General
Lagos Must Remain Top Destination for Business in Africa—Governor
By Modupe Gbadeyanka
Governor Babajide Sanwo-Olu on Tuesday said the ultimate goal of his administration was to ensure Lagos remains the top destination for business, work and living in Africa.
He made this disclosure at the swearing in of 35 members of his cabinet, who took the oath as Commissioners and Special Advisers at the Adeyemi Bero Hall in the Secretariat in Ikeja, and witnessed by the leaders and members of All Progressives Congress (APC) from all local government areas and local council development areas in the state.
During the programme, the Governor reiterated his government’s commitment to build on the foundation laid by his predecessors through Lagos Development Blueprint initiated by Mr Bola Tinubu in 1999.
While addressing his new team members, Mr Sanwo-Olu said he cabinet was unique in leadership qualities and gender diversity, adding that its members were selected through a rigorous process based on their track records in service delivery in their respective fields.
The Governor charged them to bring their years of leadership and administrative experience to bear in handling affairs of the state, stressing that the people of Lagos could not wait any longer to benefit from his administration’s programmes.
“It is with pride that I congratulate the new Commissioners and Special Advisers on your well-deserved appointments. It is a testament to your capacity, your accomplishments and your track record of hard work, commitment, dedication and professionalism in your private and public endeavours.
“Today, all of you are inducted into a singular administration, unique in its diversity – both of heritage and of creed – made up of technical and politically skilled men and women who understand the challenges of our state, grasp the grand vision of our administration, and are sensitive to the yearnings of our citizens, whom we must ultimately serve,” he said.
The Governor charged the appointees on innovation, commitment and exemplary leadership in the assigned roles, while also advising them to be prepared for the challenges ahead and be ready to pay any price for the development of Lagos.
He said, “Great opportunities for employment and wealth creation can only be realised sustainably if we are able to enhance governance with creativity, innovation and technology, while embracing collaboration with the private sector and continual dialogue and partnership with all relevant stakeholders.
“This is the task we have been called upon to undertake in the next four years on behalf of our people who are relying on us to support their dreams and aspirations. I charge you all to show commitment, diligence and exemplary leadership as the necessary virtues needed to achieve the greatness we desire for our State and to deliver the prosperity our people deserve.”
Also speaking at the event, Secretary to the State Government, Mrs Folashade Jaji, described the event as “a major milestone” in the history of political development in Lagos.
She said the choice of the cabinet appointees was a testimony to the determination of the Mr Sanwo-Olu administration to tackle the challenges facing the state and build a prosperous society.
She presented the cabinet members to the public and urged them to keep their focus on service delivery.
Giving a vote of assurance on behalf of the cabinet members, the Commissioner for Water Resources and Environment, Mr Tunji Bello, said the team would foster unity of purpose and dedication to enable the Governor realise his vision.
Other Commissioners sworn in include: Mr Rabiu Olowo Onaolapo (Finance), Mrs Folashade Adefisayo (Education), Prof. Akin Abayomi (Health), Dr Idris Salako (Physical Planning and Urban Development), Mr Gbenga Omotoso (Information and Strategy), Mrs Bolaji Dada (Women Affairs and Poverty Alleviation), Mr Lere Odusote (Energy and Natural Resources), Dr Frederic Oladeinde (Transportation), Mr Gbolahan Lawal (Agriculture), Mr Moruf Akinderu Fatai (Housing), and Mr Moyo Onigbanjo (Attorney General and Commissioner for Justice).
Also, Commissioners are Mr Hakeem Fahm (Science and Technology), Mrs Ajibola Ponnle (Establishment, Training and Pension), Engr. Aramide Adeyoye (Works and Infrastructure), Mr Segun Dawodu (Youth and Social Development), Mrs Uzamat Akinbile-Yusuf (Home Affairs), Mrs Yetunde Arobieke (Local Government and Community Affairs), Mrs Lola Akande (Commerce and Industry), Mrs Olufunke Adebolu (Tourism Arts and Culture), and Mr Sam Egube (Economy Planning and Budget).
The Special Advisers are Dr Wale Ahmed (Special Duties and Inter-Governmental Relations), Ms Ruth Bisola Olusanya (Agriculture), Princess Aderemi Adebowale (Civic Engagement), Mr Afolabi Ayantayo (Political and Legislative Affairs), Mrs Toke Benson-Awoyinka (Housing), and Mr Joe Igbokwe (Drainage and Water Resources).
Others Advisers are Olatunbosun Alake (Innovation and Technology), Arc. Kabiru Ahmed Abdullahi (Urban Development), Anofi Elegushi (Central Business Districts), Bonu Solomon Saanu (Arts and Culture), Oluwatoyin Fayinka (Transportation), Oladele Ajayi (Commerce and Industry), Tokunbo Wahab (Education), and Solape Hammond (Sustainable Development Goals).
Also present at the event were the Deputy Governor, Mr Obafemi Hamzat; First Lady, Mrs Ibijoke Sanwo-Olu; Chief of Staff to the Governor, Mr Tayo Ayinde; his deputy, Mr Gboyega Soyannwo; and Head of Service, Mr Hakeem Muri-Okunola.
At exactly 12:18pm, Mrs Yemisi Ogunlola of the Ministry of Justice administered the oath on the appointees, signalling the official take-off of their tenure.
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.”
