General
Sierra Leone’s President Maada Bio Replaces Tinubu as ECOWAS Chairman
By Modupe Gbadeyanka
The President of Sierra Leone, Mr Maada Bio, has been elected as the new chairman of the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government, replacing President Bola Tinubu of Nigeria after his two-term tenure.
Mr Bio took over the leadership of the group at the ECOWAS Authority’s 67th Ordinary Session held in Abuja on Sunday.
In his acceptance speech, he promised to lead a renewed, people-centred, and action-oriented ECOWAS in the face of unprecedented challenges and opportunities for the West African region.
President Bio said his leadership would focus on restoring constitutional order and deepening democracy, revitalising regional security cooperation, unlocking economic integration, and building institutional credibility.
“We must engage transitional governments constructively and support member states in building stronger democratic institutions rooted in the rule of law.
“We must overhaul our collective security architecture—from intelligence sharing to rapid response capabilities—to confront new threats with unity and resolve.
“The ECOWAS Trade Liberalisation Scheme, regional infrastructure, and cross-border value chains must become engines of job creation, trade, and resilience, especially for our women and youth.
“ECOWAS must reform itself to become more transparent, efficient, and responsive to the needs of its people. This is how we will rebuild trust in regional cooperation,” he said.
Mr Bio commended Mr Tinubu for laying a solid foundation of regional dialogue, economic recovery, and peacebuilding, saying, “I am humbled to build upon the strong foundation you have established.”
Acknowledging the complexities of the current moment, the Sierra Leonean leader noted that West Africa stands at a crossroads, grappling with terrorism, illicit arms flow, political instability, and transnational crime, particularly in the Sahel and coastal states.
“The democratic space is under strain in parts of our region. In some countries, the constitutional order has been disrupted. Yet, across West Africa, citizens—especially our youth—are demanding not just elections, but also accountability, transparency, and a fair stake in national life,” the Sierra Leonean leader said.
On his part, President Tinubu described it as a profound honour and privilege to have led the esteemed body, adding that he remained deeply humbled by the trust and support extended to him throughout his two-term tenure.
“As I now hand over the mantle of leadership to my great friend and dear brother, President Bio of Sierra Leone, the new Chairman of the ECOWAS Authority of Heads of State and Government, I do so with a deep sense of fulfilment and optimism for the future of West Africa.
“I remain confident that with the continued cooperation of all its members, ECOWAS will scale greater heights in our collective pursuit of peace, security, stability, and prosperity for our people and our region,” he said.
Reflecting on his tenure, President Tinubu noted the complex political and security challenges the region has faced in recent years while calling on leaders to remain committed to the evolving needs of West African citizens.
“Let us deepen cooperation, uphold diplomatic principles, and foster inclusive growth that leaves no one behind—especially our youth, women, and vulnerable populations, who remain central to the future of our region,” he said.
President Tinubu emphasised the need to preserve democratic values and ensure that political stability is not separated from economic development.
“Our organisation must continue to strike a fine balance between its core regional mandate of economic integration and the complex political, security, and governance challenges, including the preservation of democratic values in our region.”
“Economic integration cannot be superimposed on an untenable political environment. That is why we must remain steadfast in our resolve to rise to these emerging challenges,” the Nigerian leader declared.
He commended the ECOWAS Commission, community institutions, and technical staff for their dedication and professionalism in supporting the Authority’s work and organising a successful summit, reaffirming his commitment to the region’s shared mission and urged continued unity among member states.
“As you return to your respective countries, let us remain resolute in our shared mission to deepen our integration, protect our people, and build a prosperous, secure, and united West Africa,” he said.
By Adedapo Adesanya
Tether, issuer of the world’s most popular stablecoin, USDT, wrapped up 2025 with a net profit of over $10 billion, bolstered by steady growth in its flagship token and growing exposure to US Treasuries and gold.
The fourth-quarter attestation showed Tether holding $6.3 billion in excess reserves, a buffer over its $186.5 billion in liabilities tied to issued tokens. USDT’s circulating supply grew by $50 billion over the year to over $186 billion.
The firm continued ramping up its holdings of US Treasuries, reaching $122 billion in direct exposure and $141 billion including overnight reverse repurchase agreements, positioning it among the largest holders of US government debt globally.
Tether also maintained significant allocations to gold and Bitcoin, reporting holdings of $17.4 billion and $8.4 billion, respectively.
Tether’s investment portfolio, which is separated from reserve assets, was valued at $20 billion.
“With USDT issuance at record levels, reserves exceeding liabilities by billions of dollars, Treasury exposure at historic highs, and strong risk management, Tether enters 2026 with one of the strongest balance sheets of any global company,” said the chief executive of Tether, Mr Paolo Ardoino, in a statement shared with Business Post.
“This has been made possible by the trust accrued by our strong risk management setup, unprecedented in the financial sector, and the decisions we make around asset quality, allocation, and liquidity are designed to ensure USD₮ remains reliable and usable at a global scale, even during periods of extreme demand,” he added.
The latest report comes amid rising global demand for stablecoins, with Tether’s USDT remaining the dominant digital dollar in circulation.
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over its failure to account for the alleged missing or diverted N22.3 billion, $49.7 million, £14.3 million and €5.2 million oil funds.
Disclosing this in a statement on Sunday, SERAP Deputy Director, Mr Kolawole Oluwadare, said the suit followed the damning allegations documented in the 2022 audited report by the Auditor-General of the Federation, which was published on 9 September 2025.
The suit was filed last Friday at the Federal High Court in Abuja, with the organisation seeking “an order of mandamus to direct and compel the NNPCL to account for the alleged missing or diverted N22.3 billion, $49.7 million, £14.3 million, and €5.2 million oil money.”
It also asked the court to “direct and compel the NNPCL to disclose the specific financial transactions carried out in respect of the alleged missing or diverted N22.3 billion, $49.7 million, £14.3 million and €5.2 million oil money, including details of disbursement, the contractors, and other individuals who collected the money.”
“The diverted or misappropriated oil revenues reflect a failure of NNPCL accountability more generally and are directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability,” SERAP argued, noting that, “Granting the reliefs sought would strike a blow against the impunity of those responsible for the missing or diverted oil money, and ensure that the money is returned for the sake of NNPCL’s victims—Nigerians.”
“The allegations have also undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities.
“The Auditor-General has for many years documented reports of disappearance of oil money from the NNPCL. Nigerians continue to bear the brunt of these missing oil money meant to provide essential public services for Nigerians,” it added.
SERAP is also arguing that, “Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”
By Aduragbemi Omiyale
The Minister of Information and National Orientation, Mr Mohammed Idris, has emphasised that unified government messaging remains very critical to restoring public trust, especially in delivering the Renewed Hope Agenda of President Bola Tinubu.
He said this on Thursday in Abuja at an interactive session with Directors of Information and Resident Information Officers (RIOs) on grade level 14-17, deployed across Ministries, Departments and Agencies (MDAs).
The event, according to a statement issued on Friday by the Director Public Relations and Protocol of the ministry, Mr Suleiman Haruna, was themed Aligning Public Information with the Renewed Hope Agenda: Rebuilding Trust Through Effective, Transparent Communication.
The Minister noted that government officials must adopt a unified, coordinated, and trust-driven approach to government communication.
He posited that public trust remains the most valuable asset of government communication, stressing that information officers must be guided by honesty, credibility, and consistency in their work.
“Public trust is our most important capital. Once credibility is lost, no amount of messaging can fix it,” the Minister said, warning that fragmented messaging and parallel communication channels weaken government credibility and confuse citizens, insisting that the government must speak with a single, clear, and consistent voice.
“We are one government serving one national interest, and our communication must reflect that unity,” he said.
Mr Idris urged Resident Information Officers to see themselves as active partners within their host MDAs rather than passive observers, encouraging them to engage proactively with Ministers, Permanent Secretaries, and agency leadership, noting that professionalism, relevance, and initiative are key to earning trust and influence.
Addressing the growing pressure of misinformation and the speed of digital media, the founder of Blueprint Newspaper stressed the importance of timely and accurate communication, noting that delays often create space for false narratives. While reaffirming the federal government’s commitment to freedom of expression, he said such freedom must be exercised responsibly.
The Minister also outlined steps being taken to strengthen professionalism within the information cadre, including mandatory periodic reporting, improved deployment processes, continuous training, and stronger institutional support. He disclosed that the Federal Government has begun restoring the National Institute of Public Information to boost capacity building for public communicators.
He called for teamwork and mutual respect, reminding participants that they are central to the projection of government policies and achievements and that they must align their work with the priorities of the Renewed Hope Agenda.
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