General
Sanwo-Olu Assures Lagos Residents Dividends of Democracy
By Adedapo Adesanya
The Governor of Lagos State, Mr Babajide Sanwo-Olu, has promised to continue to deliver dividends of democracy to residents of the state after getting re-election.
On Monday morning, the Independent National Electoral Commission (INEC) declared Mr Sanwo-Olu of the All Progressives Congress (APC) as the winner of Saturday’s governorship elections in Lagos after it was announced that he polled a total of 762,134 votes to defeat his closest rival, Mr Gbadebo Rhodes-Vivour of the Labour Party, who scored 312,329 votes.
Professor Adenike Oladiji, Vice-Chancellor of the Federal University of Technology (FUTA) Akure, the Returning Officer, during the announcement, said the candidate of the Peoples Democratic Party (PDP), Mr Abdul-Azeez Adediran garnered 62,449 votes to come a distant third in the election.
She listed votes garnered by other political parties in the contest as A (800), AA (904), AAC(627), ADC (6,078), ADP(2833), APM (884), APP (259), BP (616), NNPP (1,583), NRM (340), SDP (1,746), YPP (461) and ZLP (1,635).
She put the total number of registered voters at 7,060,195; total accredited voters at 1,182620; total votes cast at 1,173,631, total valid votes at 1,155,678 and rejected votes at 17,953.
Prof. Oladiji said: “I declare that Sanwo-Olu Babajide Olusola of APC, having satisfied the requirements of the law by scoring 25 per cent in two-thirds of the local government areas in the state and also scoring the highest number of the vote cast, is hereby declared the winner and he is returned elected.”
The APC won in 19 Local Government Areas of the state; the LP won in one LGA, while the PDP did not win any.
In his remarks, the INEC Resident Electoral Commissioner, Mr Olusegun Agbaje, noted that some of the allegations of manipulation levelled against him were a fallacy.
Mr Agbaje, however, said that such allegations were not strange in a clime like ours and decried the poor turnout of voters.
Assessing the process, Mr Olusegun Mobolaji, Lagos state Chairman of the Inter-Party Advisory Council (IPAC), decried the pockets of violence experienced in some parts of the state as well as vote buying and apathy.
He urged the candidates to imbibe the spirit of sportsmanship and accept the outcome of the elections in good faith.
Mr Mobolaji urged INEC to improve on the shortcomings in future elections.
Regardless of this, Business Post spoke to voters over the weekend who were disenfranchised on account of their ethnicity by elements that were believed to be working for the ruling party, with tribal slurs and stereotypes hurled at them.
On his part, the re-elected governor on Monday said his re-election for a second term has reaffirmed that Lagos has chosen competence and experience on the march to true greatness.
Mr Sanwo-Olu said this at the Lagos House Marina while giving the victory speech for his re-election, following the official announcement by INEC.
He said that elections were over now, and governance must continue, and the dividends of democracy must continue to be delivered, as there must be no break and no time off.
According to him, his government will keep all the promises made to the people of Lagos state.
“Lagosians, you did not just vote for Babajide Sanwo-Olu. You voted for a greater Lagos. I promise that together we shall achieve this. This is a promise that shall not be broken. A greater Lagos shall be ours.
“Let me boldly and proudly say that we are already well on the way to that greater Lagos, and we now have four more years to join hands to advance in ways that will pleasantly surprise even the most sceptical amongst us,” he said.
“Lagos is what it is today because of each and every one of you, regardless of ethnicity, religion, political affiliation, gender, or age.
“We are a vibrant and thriving hub of commerce, finance, entrepreneurship, innovation, and culture because of the diversity that has come to define us over the decades and the centuries. Thank you,” he said.
He said that during the course of the campaign, sadly, there was a lot of divisive rhetoric used, as some tried to make the elections about ethnicity and religion when in fact, they should only have been about capacity, competence, and experience.
“We saw hateful and hurtful ethnic profiling by fellow citizens – which is totally out of place for us as Lagosians, the proud residents of West Africa’s pre-eminent melting pot.
“I want to recognise and salute all of the multitudes of residents who refused to succumb to those who sought and still seek to divide us with their unguarded and inciting comments.
“Unfortunately, there are reports of skirmishes in some local government areas wherein some citizens were reported to have been injured. We strongly condemn these reprehensible incidents – that is definitely not who we are as a people.
“The relevant law enforcement and security agencies have been directed to investigate these breaches of the law and to ensure that those found culpable face the full wrath of the law.
By Adedapo Adesanya
The Nigerian Shippers’ Council (NSC) saved over N348.8 million for port users and resolved 19 complaints in the first quarter of 2026.
According to its sectoral data report from the council’s quarterly newsletter, which covered January to March 2026, the agency’s continued intervention in disputes within the maritime sector is aimed at reducing trade frictions and protecting shippers from unfair practices.
A breakdown of the complaint status shows that, out of 32 cases handled during the period, 19 were successfully resolved, 12 are still ongoing, and one has been closed.
In terms of financial impact, the NSC’s dispute resolution efforts led to a total savings of N348,813,072.06 for stakeholders, particularly importers, exporters, freight forwarders, and shipping agents.
Further analysis of the report indicates that shipping companies and their agents accounted for the highest number of complaints, with 22 cases filed against them.
“Other entities complained against include seaport terminal operators (1), government agencies (3), exporters (1), importers (1), de-consolidators (1), and freight forwarders/clearing agents (3).
“The complaints lodged during the period cut across a wide range of operational and financial issues. Prominent among them were container deposit refund disputes, which recorded the highest frequency with five cases, followed by arbitrary charges (4).
Other issues included unsettled demurrage (2), missing cargo (2), service failure (2), damaged cargo (2), wrong port of discharge (2), and non-release of auction cargo (2).
“Additional complaints involved delays in cargo transfer, breach of trust, invoice cancellation, lack of telex release, delay in releasing export documents, export fraud, waiver-related disputes, demurrage and detention of vessels, breach of contract, and unjustified demurrage charges,” the data report stated.
The data also reveals that the majority of complainants were shippers, including importers and exporters, alongside freight forwarders and shipping agents, reflecting the operational challenges faced by key players in Nigeria’s port value chain.
The NSC, as the port economic regulator, noted that it has consistently leveraged its complaints and dispute resolution mechanism to address grievances and ensure fairness in commercial transactions within the maritime industry.
By Adedapo Adesanya
The Federal Executive Council (FEC) has approved the establishment of the National Research and Innovation Development Fund (NRIDF) as part of efforts to strengthen Nigeria’s research, science, technology and innovation sector.
The approval was granted during the council’s meeting presided over by President Bola Tinubu on Monday.
According to a statement issued by the Federal Ministry of Innovation, Science and Technology, Head of Press and Public Relations, Mrs Pauline Sule, the fund will be supervised by the ministry and managed through a 17-member National Council on Research and Innovation.
The council will be chaired by Vice President Kashim Shettima, while the Minister of Innovation, Science and Technology, Mr Kingsley Tochukwu Udeh, will serve as vice chairman.
Reacting to the development, Mr Udeh described the approval as a major step towards building an innovation-driven economy and strengthening Nigeria’s research ecosystem.
He said the initiative aligns with the federal government’s economic agenda aimed at achieving a $1 trillion economy under the Renewed Hope programme.
The Minister, however, noted that the fund would still undergo legislative, administrative and operational procedures before full implementation and disbursement begin.
According to him, the National Research and Innovation Development Fund is expected to provide strategic financial support for researchers, innovators, startups and technology developers across the country when fully operational.
He added that the initiative would help strengthen local research capacity, encourage the commercialisation of innovations and deepen collaboration between academic institutions and industry players.
The ministry also stated that the fund is expected to improve Nigeria’s competitiveness within the global technology and knowledge economy.
By Aduragbemi Omiyale
One Mr Taofeek Daniel Oriola has been convicted and sentenced to nine years’ imprisonment for money laundering.
He was sentenced by Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos, on Monday, May 11, 2026.
His journey to the correctional centre started when he used part of the proceeds of his unlawful activity derived from fraudulent cryptocurrency transactions to acquire some properties, which have now been forfeited to the federal government.
The said properties include a 2014 Range Rover (Supercharged) with VIN Number SALGS3TF7EA180971, a five-bedroom apartment with boys’ quarters in the Ibeju-Lekki area of Lagos State, a parcel of land measuring 653.479 square metres situated at Ibeju-Agbe in Ibeju-Lekki, and one iPhone 16.
The convict, in April 2026, committed the offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.
Mr Oriola was brought before the court by the Economic and Financial Crimes Commission (EFCC) on a three-count charge bordering on money laundering and concealment of proceeds of unlawful activities.
“That you, TAOFEEK DANIEL ORIOLA (Male), adult, sometime in April 2026 in Lagos State, within the jurisdiction of this court, engaged in the disguise of the true source of a 2014 Range Rover (Supercharged) with VIN No. SALGS3TF7EA180971, which you knew formed part of the proceeds of your unlawful activity derived from fraudulent cryptocurrency transactions, and you thereby committed an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.
“That you, TAOFEEK DANIEL ORIOLA (Male), adult, sometime in April 2026 in Lagos State, within the jurisdiction of this court, engaged in the disguise of the true source of a five-bedroom apartment with boys’ quarters situated at Ibeju-Agbe, in the Ibeju-Lekki area of Lagos State, which you knew formed part of the proceeds of your unlawful activity derived from fraudulent cryptocurrency transactions, and you thereby committed an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act,” two of the three charges read.
After pleading “guilty” to the charges when read to him, Justice Osiagor sentenced him to three years’ imprisonment on each count, to run concurrently, with an option of a N200,000 fine on each count. The judge also ordered him to undertake seven days of community service.
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