General
Buhari, Others Mourn Ocean Marine Boss Hosa Okunbo
By Sodeinde Temidayo David
Notable Nigerians, including President Muhammadu Buhari, have commiserated with the family of Mr Idahosa Okunbo, the chairman of Ocean Marine Solutions Limited, who passed on on August 8 at the age of 63 after months of a hard-fought battle with pancreatic cancer at a London hospital.
Mr Okunbo was a Nigerian business magnate, investor, philanthropist and trained commercial pilot.
His family, in an official announcement of his death, was proud that the late Okunbo lived a good life and would therefore not mourn like the downhearted.
Also, in the statement from the family, signed by the head of the Okunbo family, Mr Tinyan Okunbo, and made available by the deceased’s Media Consultant, Mr Samuel Ajayi, thanked God for a life of service and dedication to humanity that the late businessman lived.
“We do not mourn like those that have no hope and we take solace in the fact that he lived a good life and he has gone to be with his Lord and Saviour Jesus Christ,” a part of the statement said.
While thanking everyone for their prayers and support all through this trying period, the family craved the understanding of all and sundry at these trying times and would want the immediate family to grieve in private, adding that further announcement will be made at a later date.
Being an influential figure, an entrepreneur and investor in Nigeria oil and gas and other related sectors, President Buhari, Governor Godwin Obaseki and former Governor Adams Oshiomhole, have sympathized with the family of Mr Okunbo and the people of Edo over the passing of their son, saying his exit was both painful and untimely.
President Buhari, in a release issued Sunday by his Media Adviser, Mr Femi Adesina, empathised with the family, friends and associates of Mr Okunbo, noting that the deceased, with investments spanning the petroleum, telecommunications, maritime, and power sectors, among others, contributed immensely to the development of the Nigerian economy, providing sustenance to many families in the process.
While praying for the rest of the soul of Mr Okunbo, Mr Buhari urged those who mourn him, particularly the people of Edo State, to whom he devoted time and resources, to sustain his legacies of well-spiritedness and large-heartedness.
Edo State Governor, Mr Godwin Obaseki, said in his statement on Sunday, stated that the state had lost a brother.
“It is with a heavy heart that I mourn the passing of a great son of Edo State, a brother, a distinguished Nigerian, an illustrious businessman and an accomplished philanthropist, Captain Hosa Okunbo.
“A man of unparalleled energy and accomplishments, Captain Okunbo saw opportunities in adversity and from an early age in life, carved a niche for himself to become one of Nigeria’s most outstanding businessmen.
“A trained pilot, he conquered the air at an early age and set for the waters and land, building enterprises that distinguished him in the business world and embodied the hard work, perseverance, dexterity and acumen that espoused his Edo heritage.
“Okunbo was a philanthropist, who gave lavishly of himself and his resources; thousands of Edo sons and daughters benefited from his charitable works and benevolence.
“As a mortal, Captain Okunbo was not a perfect person just as none of us can claim to be, but he will be remembered for his undying love for Edo people.
“His desire for the development and progress of our dear state, the Niger Delta region and Nigeria as well as his invaluable contributions to building bridges of peace across the country will never be forgotten.
“I commiserate with the Okunbo family, friends and associates of our departed brother and pray that God will grant all the fortitude to bear this irreparable loss,” he said.
Mr Obaseki predecessor, Mr Oshiomhole, a former President of the Nigeria Labour Congress (NLC), described the death of Mr Okunbo as an irreparable loss to humanity.
“I received Sunday morning, the unanticipated news that my friend, Mr Hosa Okunbo has passed on.
“I am in disbelief, shock and deep pain, to say the least. It is just too hard to come to terms with the reality that Capi is no more and words alone cannot appropriately capture the dark mood cast upon our land this day,” Mr Oshiomhole said.
Also, he noted that Mr Okunbo was not just a good friend, but a brother and an exceptionally dependable ally in all his efforts for a better Edo State and truly loved Edo State and wished only the best for his people.
Likewise, the Minister of State for Budget and National Planning, Mr Clem Agba, mourned Mr Okunbo, saying, “His death has created a huge vacuum that will be difficult to fill.”
Similarly, the president of the Commonwealth Medical Association (CMA), Mr Osahon Enabulele, described Mr Okunbo’s death as a tragic development.
“This explains why the death of our loved ones, as painful as it is, provides yet another opportunity for one to consciously reflect, refocus, and rededicate ourselves to cherished cardinal and theological virtues, and the upliftment of our common humanity.
“As you may already know, our combined efforts across Nigeria are focused on increasing cooperation on maritime and border security, the law of armed conflict and military justice, counterterrorism efforts against Boko Haram and ISIS-West Africa, defence trade, and strengthening governance and transparency of the security sector.”
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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