By Modupe Gbadeyanka

The Governor of Osun State, Mr Ademola Adeleke, has praised prominent Nigerian businessman, Mr Aliko Dangote, for the distribution of 30,000 bags of rice to economically challenged persons in the state.

Mr Dangote shared the staple food over the weekend through his Aliko Dangote Foundation (ADF) under the National Food Intervention programme.

Mr Adeleke, while flagging off the distribution, expressed gratitude to the industrialist and philanthropist for the unwavering commitment to the well-being of the vulnerable as well as the fight against hunger and poverty in Nigeria and Africa.

He said the distribution of 30,000 bags of 10 kg size of rice to all vulnerable groups in all the local government areas of Osun state would go a long way in alleviating the food crisis facing them due to the food inflation ravaging the country and Africa at large.

The Governor, represented by the state’s Commissioner for Agriculture and Food Security, Mr Tola Faseru, saluted Mr Dangote for the effort to support Osun state at this time of economic challenges impacting the vulnerable people in society.

“The distribution of these bags of rice to the indigents is a significant step towards addressing food security and poverty alleviation in the state.

“I must commend the efforts of the foundation again in making life meaningful to this set of people who need food assistance. Together, we can build a prosperous society for all,” he stated.

He assured that many vulnerable groups and their members would benefit from the rice distribution, particularly people with disability (PWD), the aged, motherless babies’ homes, youth groups, farmers, artisans and many more.

The Governor emphasized the need for continuous collaboration with the foundation on initiatives that bring relief to the vulnerable in the country, adding that it is on record that his administration continues to provide relief to the people of Osun via several palliative initiatives.

Also, the Special Adviser to the Governor on Agriculture, Mr Olaniran Akanfe Atidade, described the foundation’s gesture as a significant effort towards food security and poverty alleviation.

A representative of the foundation, Mr Victor Ejiro, in his remarks, said Osun State is “dear to the heart of our chairman and his foundation, hence the need to prioritize the state.”

He added that the foundation has continuously targeted one million vulnerable Nigerians in its Annual National Food Intervention Program.

The 2025 rice distribution programme, according to Mr Ejiro, is targeted at beneficiaries in all the 774 local governments in Nigeria. He added that this is a direct response to cushioning the effect of the harsh economic conditions among the vulnerable.

It was gathered that representatives of various beneficiary groups were presented with their allocation of bags of rice, expressing their appreciation to ADF for the invaluable gesture and support.

Recall that in March 2025, the foundation commenced its 2025 National Food Relief Programme aimed at distributing over one million 10kg bags of rice across the 774 local government areas of the 36 states and FCT in Nigeria.

By Adedapo Adesanya

The chief executive of Pan-African Payment & Settlement System (PAPSS), Mr Mike Ogbalu, has welcomed the recent circular from the Central Bank of Nigeria (CBN) announcing a significant streamlining of documentation requirements for PAPSS transactions in Nigeria.

This progressive policy, announced on April 28, 2025, sets the stage for faster, more cost-effective, and more inclusive participation by Nigerians and Nigerian businesses, especially Small and Medium Enterprises (SMEs), involved in intra-African commerce under the African Continental Free Trade Area (AfCFTA).

With the new disclosure, individuals and businesses in Nigeria will now be able to make PAPSS transactions efficiently; with less delays occasioned by paperwork. Only basic KYC (Know Your Customer) and AML (Anti-Money Laundering) documents are required for clearance of payments under $2,000 (for individuals) and $5,000 (for corporates) per month.

This makes it easier for Nigerian SMEs to trade across Africa under the AfCFTA, with fewer heavy documentation barriers than ever before.

The announcement also empowers commercial banks to source foreign exchange for PAPSS through Nigeria’s Foreign Exchange market.

As PAPSS continues to expand across Africa — with 16 countries, 14 payment switches, and more than 150 commercial banks now connected, including 22 banks in Nigeria — the streamlined requirements will eliminate barriers and encourage broader use of our secure, instant, local currency-based platform.

The CEO of PAPSS, commented: “Today marks a transformational milestone for Nigerian commerce and for the larger vision of African economic integration. We are grateful to the Central Bank of Nigeria for its unwavering support and vision in propelling Nigeria towards seamless intra-African payments under the AfCFTA.

“This bold policy move by the CBN will empower banks, businesses, and entrepreneurs to connect, trade, and pay more easily than ever before. The directive removes excess paperwork from a large number of transfers, empowering Nigerian businesses to participate more freely in the African Continental Free Trade Area by utilising our secure, local currency-based platform.

“We also expect Nigerian banks to begin integrating PAPSS into their digital platforms such as mobile apps and online banking in the near future, promoting even wider adoption.

“PAPSS is at the forefront of the African advancement towards a truly borderless African economy and achieving the ultimate goal of economic self-determination. We encourage all stakeholders across the continent to follow in Nigeria’s footsteps, embrace PAPSS, and become part of the transformation that will define the way Africa does payments and accelerate the realisation of the African Continental Free Trade Area goals.”

By Adedapo Adesanya

The Socio-Economic Rights and Accountability Project (SERAP) has urged the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, to let Nigerians know whether the bank has commenced the direct disbursement of allocations to the 774 local government areas of Nigeria from the Federation Account.

He was also asked to “immediately disclose whether any direct payment has been made from the Federation Account with the CBN to the local government councils in Rivers state and to explain the rationale for any such payment.”

The Supreme Court last July in a landmark judgment held that no governor or other agencies have the power to keep, control, or disburse in any manner the allocations from the Federation Account meant for local government councils, and that any such allocations must be paid directly to democratically elected councils.

SERAP said it was concerned that states and the FCT have continued to undermine and endanger the existence of local governments and their ability to effectively function as the third tier of government.

In the Freedom of Information request dated May 10, 2025 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation said: “The CBN ought to act in the public interest to ensure that the 774 councils in the country directly get their own allocations from the Federation Account, as ordered by the Supreme Court.”

SERAP said, “The CBN has a constitutional and statutory duty to protect the allocations in the Federation Account and the public funds disbursed from that Account directly to each of the constitutionally recognized three tiers of government.

“The CBN also has the constitutional and statutory duty to ensure that no part of the Federation is governed contrary to the Nigerian Constitution or by anybody that is not constitutionally empowered to do so.”

“State governors are starving local governments of funds and putting them in peril, despite the Supreme Court’s binding orders. State governors’ blatant disregard for the Supreme Court’s orders undermines the integrity of the court and poses a direct challenge to the rule of law.

“The CBN should be facilitating compliance with the Supreme Court’s orders. If state governors get away with ignoring the court, it will undermine the ability of the bank to credibly perform its constitutional and statutory duties.

“Ensuring that all restrictions against direct disbursement of allocations from the Federation Account to the 774 councils will comply with the orders by the Supreme Court and stop states and the Federal Capital Territory from tampering with the allocations ahead of the 2027 general elections.

“The disbursement of the allocations meant for the 774 councils to states would be at the expense of poor Nigerians and continue to undermine the rights and well-being of those at the bottom of the economy and exacerbate the growing poverty in the country,” SERAP noted.