General
Governments Need Proper Financial Reporting for Good Policies—Diri
By Aduragbemi Omiyale
The Governor of Bayelsa State, Mr Douye Diri, has stressed the need for proper financial reporting as a form of guidance to the government in formulating policies that will be beneficial to the citizens.
Mr Diri gave this submission while declaring open the 2nd session of the Mandatory Continuing Profession Development (MCPD) programme of the Association of National Accountants of Nigeria (ANAN) at the Ecumenical Centre, Yenagoa on Tuesday.
The Governor said the burden was on the shoulders of the accountants, to discharge the responsibility to ensure that government and other institutions have correct and proper reporting in place.
“Proper accounting and reporting is the glory of the accountant. So, once you are not able to discharge this responsibility or duty, it then means that your glory is no longer with you,” Mr Diri, who was represented by his Deputy, Mr Lawrence Ewhrudjakpo, disclosed.
He further said, “Without positive and accurate reporting, governance would become a challenge. Countries, societies, and even families have made decisions that are very colossal as a result of wrong reporting in terms of the available resources and how those resources can be applied.
“There is no way government’s decisions will not be dislocated or disabled if proper financial reporting is not done by you as accountants. Our reporting must not end with one plus two in our balance sheets. But it must be analytical, futuristic and dynamic.”
Speaking further, he said, “Our financial reporting should be able to bring out all the dynamics and variables that will affect our micro and macro-economic decisions to make our economy viable.
“When we talk about resources, apart from man, the other most important resource is finance, because even the Bible acknowledges the powerfulness of money. It says money answereth all things. In any case, it also gave a proviso that the love of money is the root of all evil.”
He tasked the accountants to “use the opportunity of this Mandatory Continuing Professional Development programme to take the opportunities to build your capacity and competencies.”
“I want to state that the themes of your conferences have always been exciting. Your theme here and others your National President and Chairman of Council has referred to are quite apt and contemporary,” he added.
In his keynote address, the National President and Chairman of Council, ANAN, Mr Benjamin Chuka Osisioma, lauded the Bayelsa State government for the steps taken so far to develop the state.
He said the theme of the programme, Dynamics of Corporate Reporting and Governance, was designed to inform accountants of the processes of bringing together material information about organizations’ strategies, performance, prospects and governance in a way that reflects the economic, social and environmental contexts within which they operate.
By Adedapo Adesanya
A new report released by the Armed Conflict Location & Event Data Project (ACLED), a Washington-based crisis-tracking consultancy, has warned that extremist groups are jostling for control across West Africa stretching from Mali to Nigeria.
It warned that militant organizations, once contained largely within Mali and parts of Burkina Faso, are now converging along a dangerous belt extending all the way to Nigeria. Over the last decade, tens of thousands have been killed and millions displaced, making West Africa the world’s deadliest hotspot for jihadist activity.
The southward spread of militant violence from the Sahel has made the past year in Benin Republic, which foiled an attempted coup on Sunday, its deadliest on record, with nearly 70 per cent more fatalities as al-Qaeda affiliate Jama’at Nasr al-Islam wal-Muslimin (JNIM) stepped up attacks from eastern Burkina Faso.
JNIM crossed a new threshold in October when it staged its first documented attack inside Nigeria after a decade of bloodshed in Mali and major incursions into Burkina Faso and Niger. ACLED reports that the group is now embedding itself in the northwest and parts of the north-central region.
ACLED warns that if current trends persist, 2026 may bring deeper instability and fragmentation in the central Sahel and along its southern borders. Nigeria’s northmost part lies within the southern fringe of the Sahel ecological zone.
Nigeria is already fighting a war against terrorism in the North East, where Boko Haram and Islamic State West Africa Province (ISWAP) operate across the Lake Chad basin.
This development presents a fresh security dilemma for President Bola Tinubu, who is already contending with mass abductions, banditry, and long-running insurgencies.
He already faces additional pressure from US President Donald Trump, whose claims of systematic killings of Christians in Nigeria have been widely debunked but continue to fuel diplomatic tension.
ACLED noted that Russia’s military partnerships with juntas in Niger, Burkina Faso and Mali, which seized power in recent years riding a wave of anti-French sentiment are weak, evidenced by Mali currently witnessing its highest monthly levels of recorded violence since 1997.
It also noted that the region’s wave of coups has only worsened long-standing drivers of extremism: deepening poverty, environmental stress, corruption, broken governance, and humanitarian collapse. Just recently, a coup occurred in Guinea Bissau and one was almost successful in neighbouring Benin Republic.
“In the coming year, this subregion is likely to become a key arena of competition among militant groups,” Mr Heni Nsaibia, West Africa senior analyst at ACLED, said in the report. “One of the key developments shaping the outlook for 2026 is the consolidation of a new frontline in the Benin, Niger and Nigerian borderlands.”
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Creating a poster that feels cinematic
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When silence speaks louder
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The final exhale
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) on Thursday sealed the premises of the Ikeja Electric Distribution Company (IKEDC) in the Alausa area of Lagos for alleged violation of consumer rights.
Leading FCCPC official to carry out to closure, the Director of Surveillance and Investigation, Mr Bola Adeyinka, said the move was in line with the Federal Competition and Consumer Protection Act (FCCPA) 2018 after repeated attempts to resolve the matter.
“Sealing this facility is a proportionate enforcement measure taken only after repeated engagement and several opportunities for voluntary compliance,” Mr Adeyinka said in a statement.
“The seal will remain in place until Ikeja Electric complies fully with the directives issued by both NERC and the FCCPC and provides written evidence of that compliance,” he added.
According to the FCCPC, the Nigerian Electricity Regulatory Commission (NERC) issued a binding decision directing Ikeja Electric to unbundle a Maximum Demand account into 20 non-Maximum Demand accounts, to recognise each of the 19 residential units and a service point owned by the complainant as separate customer units, and to provide the required metering and connection.
“Ikeja Electric did not carry out that decision,” the statement read in part. “Because of this failure, the complainant has been without electricity supply for more than two and a half years.
“This was despite paying all charges requested by Ikeja Electric and meeting every obligation. The lack of electricity has prevented the complainant from putting the 19 residential units to use.”
It said the move followed unsuccessful attempts to resolve the issues through warnings and dialogue.
FCCPC listed one of such attempts to include a directive to the company in April 2025 on the steps required and the timelines for compliance.
However, “No action was taken. On 2nd October 2025, the Commission issued a Compliance Notice requiring full compliance within seven business days.
“The company still did not comply,” the commission explained.
As of press time, Ikeja Electric, which supplies electricity to several areas in Lagos, has not yet commented on the matter.
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