General
African Leaders Backs Action to Address Climate Change
By Dipo Olowookere
African Heads of State and Government marked Africa Day in the Africa Pavilion at the UNFCCC 22nd Conference of Parties (COP22) on Friday with focused and strategic discussion on the ratification and roll out of the implementation of the Paris Agreement and the key continental initiatives to support member states’ efforts.
President Alpha Condé of the Republic of Guinea presided over the High Level gathering also attended by the Presidents of Botswana, Mr Ian Khama; Liberia, Ms Ellen Johnson Sirleaf; Togo, Mr Faure Gnassingbe, Ministers from the continent, heads of Pan African Institutions; the African Union Commission, the African Development Bank, the Economic Commission for Africa, NEPAD Planning and Coordinating Agency and; development partners.
The Africa Day event had the dual themes of “Moving from Commitment to Action with Nationally Determined Contributions (NDCs)” and “The Africa Renewable Energy Initiative: Moving Forward.”
As Climate Change is one of the greatest challenges facing the world, with Africa already experiencing some of the most severe impacts, the continent’s leaders have proactively responded with the establishment of the Committee of Africa Heads of State and Government on Climate Change (CAHOSCC) and the African Group of Negotiators (AGN) on Climate that have thus far, tremendously influenced global negotiations.
Presence of heads of state at COP22 and the Africa Day event further demonstrated the importance placed on securing the continent’s interests within the global climate governance mechanism and in defining the roadmap to reduce global temperature rise to ‘well below’ 2oC goal, considered by the Intergovernmental Panel on Climate Change (IPCC) as the threshold for averting dangerous changes to the climate system.
COP21 in Paris in December 2015, delivered the landmark Paris Agreement in which the Intended NDCs emerged as the game changer and primary mechanism for reducing global temperature rise. To date 46 African countries have signed the Paris Agreement and 27 out of 103 countries have ratified the Agreement that entered into force on 4th November, 2016.
Africa has seized the opportunity of COP22, dubbed the action COP, to demonstrate leadership in the implementation of the Paris Agreement, through the NDCs and in ensuring that the means of implementation, namely finance, capacity building, technology development and transfer – the cornerstones of implementation- are provided.
Beyond COP22 a critical issues is the alignment of NDCs with existing national development priorities and initiatives. Implementation will be enhanced and supported by pan- African initiatives and programmes operating through a range of partnerships, two of which are: The African Adaptation Initiative (AAI) and; the African Renewable Energy Initiative (AREI). The latter, supported by the governments of France and Germany, seeks to achieve at least 300 gigawatts of renewable energy capacity by 2020.
Emphasising the importance of energy access, President Condé noted that out of 1 billion Africans 700 million have no access to energy. “Since 2002, we have fought to ensure that production is accelerated and increased,’’ further expressing satisfaction at the funding for AREI as an indicator that Europe is taking steps to deliver on commitments for implementation.
President Konde said that Africa needs to develop on the basis of an energy mix “but we also need to develop fast, and the faster Africa has access to energy the faster Africa will develop”, he said.
AfDB President, Akinwumi Adesina said energy is the engine of Africa’s growth and development and reinforced the need for an energy mix of on and off-grid systems. “Let’s turn pledges on paper into projects on the ground. Let us together deliver success for Africa. Let us together light up and power Africa!” he urged.
“All these initiatives fit very well into our African Union Agenda 2063 where we want to have a prosperous Africa based on inclusive growth and commits Africa to pursue a sustainable development path where climate resilient programs play a major role while we protect our environment through renewable energy”, said Chairperson of the Africa Union Commission (AUC), Dr Nkosazana Dlamini Zuma, in a statement read on her behalf by Dr Elham Mahmoud Ahmed, Commissioner for Infrastructure and Energy, AU Commission.
Mr Abdalla Hamdok, ECA Executive Secretary a.i, emphasised the importance of aligning Africa’s climate change initiatives with sustainable development noting that “The impacts of climate change in Africa are increasing in complexity resulting in new and emerging threats to lives and livelihoods, catalysing new migration dynamics, disasters and conflict and lost economic opportunities.”
Egypt’s Minister of Environment and President of the African Ministerial Conference on Environment (AMCEN), Mohammed Fahmy, also welcomed the initiatives and encouraged good governance and transparency as the foundation of implementation.
COP21 and 22 Presidents, Segolène Royal of France and Salaheddine Mezouar of Morocco, also participated in the event. ‘This is an African COP, the biggest economies must fulfil their commitments to Africa’, said Ms Royal.
Mezouar, COP22 President said ‘Africa must and will electrify at the lowest cost’, and that the COP 22 roadmap should “respond to the issues of financing, access to electricity and capacity building to increase the success of projects….” Further emphasizing that it was time to put an end to clichés about African countries’ ability to carry out projects.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
