General
VIO Permanently Banned from Lagos Roads—Ambode
By Modupe Gbadeyanka
Governor Akinwunmi Ambode of Lagos State on Tuesday said his administration has permanently banned Vehicle Inspection Officers (VIO) from roads in the state.
Mr Ambode explained that his decision to ban the agency was in line with his administration’s resolve to ensure free flow of traffic across the state, noting that activities of VIO were contributing to traffic congestion on Lagos roads.
Speaking at the commissioning of pedestrian bridges, laybys and slip road at Ojodu Berger, the “Distinguished ladies and gentlemen, let me use this opportunity to reiterate that Vehicle Inspection Officers (VIO) have been asked to stay off our roads permanently,” he said.
The Governor disclosed that in the alternative, the state government would employ technology to track and monitor vehicle registration and MOT certifications and de-emphasise impoundment of vehicles on the roads.
Speaking on the interventions in Ojodu Berger, Governor Ambode said his administration at inception, identified the axis as one of the major traffic flashpoints that required urgent attention, adding that the decision was informed by the strategic importance of this axis being a major gateway into the state.
“What we set out to achieve with this project was to ensure smooth flow of traffic along the express, safeguard the lives of our people who had to run across the express and project the image of a truly global city to our visitors.
“Today, we are delighted that we have not only succeeded in transforming the landscape of this axis but with the slip road, lay bys and pedestrian bridge, we have given a new and pleasant experience to all entering and exiting our State.
“This project is the product of our innovative team of engineers, architects and town planners who have worked hard to create an innovative solution to tackle the challenges of this axis. I say a big thank you to the staff of the Lagos State Ministry of Works and the contractors – CCECC Nigeria Limited for a job well done,” he said.
To improve on the project, Governor Ambode said a food court would be built where people can relax before climbing the pedestrian bridge, as well as an interstate bus terminal within the Ojodu Berger axis for buses coming from outside Lagos to drop and load passengers, while intercity transportation system would move commuters within the city.
Besides, the Governor assured that his traffic interventions would not only stop at the Ojodu Berger axis, but would be an ongoing process to create solutions to traffic congestion in every part of the State.
“If your neighbourhood or community is experiencing traffic challenges, be rest assured that we will soon be there. We will always ensure that promises made are promises kept. We will continue to rely on the support of all segments of the population for regular tax payments, obeying the rule of law and protection of public infrastructure. That is the only way we can progress and achieve our goal of being one of the world’s top centres for business, entertainment and leisure,” he said.
While alluding to the fact that the state has lived up to its reputation as a land of possibilities, Governor Ambode also expressed confidence that the future prospects of the State was promising and that the journey of the next fifty years has commenced on a very sound and solid footing.
Earlier, in his opening remarks, the State’s Commissioner for Waterfront Infrastructure Development, Engr. Adebowale Akinsanya said the project was conceived by the State Government as a response to the yearnings of the people of Ojodu Berger Community for an improved, efficient and grid lock free road network, as well as the need to preserve the sanctity of life of Lagosians who hitherto were endangered by the need to cross the ever-busy Lagos-Ibadan Expressway.
Mr Akinsanya, who is also overseeing the Ministry of Works and Infrastructure, gave the scope of the project to include 98m pedestrian bridges with illumination, 150m length lay-bys on both sides of the expressway, 500m length of retaining wall with varying height from 3.5m to 7m and two multi-by bus park/bus lay-bys on Ogunnusi road with public convenience.
Other scope of the project included 650m slip road connecting traffic outward the expressway to Omole/Olowora Junction, 700m Ogunnusi/Wakatiadura dual road from Kosoko road junction to the expressway, 250m PWC Road to the expressway, street lighting on all the roads and multi-bay bus parks, signalization of all junctions, pedestrian walkway and drainage infrastructure, among others.
By Adedapo Adesanya
Yellow Card, a global stablecoin infrastructure provider, has raised $40 million in a strategic funding round to accelerate its international expansion and strengthen its digital payment infrastructure.
The funding round attracted investments from SC Ventures, the innovation and investment arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital, and other strategic investors. With the latest raise, Yellow Card’s total equity financing has now exceeded $120 million.
The company said the fresh capital will be used to scale its Global US Dollar Accounts, an end-to-end dollar account designed for businesses, while expanding the stablecoin payment rails that connect businesses to markets around the world.
Yellow Card’s chief executive, Mr Chris Maurice, described the investment as a strong endorsement of the company’s long-term vision, noting that the company has spent years building infrastructure that allows businesses to move money globally without relying on traditional correspondent banking systems.
He added that the next phase of growth will focus on helping banks connect directly to stablecoin payment rails, enabling faster and more efficient cross-border transactions while expanding access to US Dollar services for businesses.
SC Ventures chief executive, Mr Alex Manson, said stablecoins are becoming an important part of global payments, but noted that widespread adoption will depend on reliable infrastructure and practical use cases.
He said Yellow Card has built the payment rails businesses across Africa need to move money efficiently across borders and expressed confidence in the company’s ability to expand both within Africa and internationally.
The investment also marks growing interest from global institutions in stablecoin-based payments. Sony Innovation Fund said its backing reflects confidence in Yellow Card’s ability to build digital payment infrastructure for emerging markets.
Mr Austin Noronha, Managing Director at Sony Ventures-US, said the company believes Yellow Card is creating the technology needed to help banks, financial technology firms and enterprises move money faster and more securely.
He added that the company looks forward to supporting Yellow Card as it expands beyond Africa into Latin America, the Middle East, Europe and the Asia-Pacific region.
Yellow Card said the funding will also support the wider rollout of its Global USD Accounts, which allow businesses to hold U.S. dollars, manage treasury operations, swap stablecoins, and collect or make payments in local currencies across more than 50 countries.
The company noted that the platform is already being used by major customers, including Visa and Western Union.
Founded to simplify cross-border payments through digital assets, Yellow Card has processed more than $10 billion in transactions across its network. The company supports over 50 currencies and holds licences, authorisations and registrations in 22 jurisdictions across North America, Europe and Africa.
Yellow Card has also established strategic partnerships with global payment companies including Visa, Mastercard, PayPal and Coinbase as it positions itself as a key infrastructure provider for international digital payments.
By Adedapo Adesanya
The National Economic Council (NEC) has approved a $4.5 billion arrangement for the Nigerian National Petroleum Company (NNPC) Limited aimed at strengthening the country’s external reserves and freeing up funds for infrastructure.
This is part of the refinancing of the $3.3 billion Project Gazelle Pre-Export Finance Facility through a new $4.5 billion facility named “Project Gazelle 2”.
The approval allows NNPC Limited to refinance the outstanding balance of approximately $1.5 billion under the original 2023 facility, while unlocking an additional $3 billion in liquidity to strengthen the country’s external reserves and support ongoing fiscal and infrastructure priorities of the government.
NEC’s approval followed a presentation by the Minister of Finance, Mr Taiwo Oyedele, which was presented by the Chairman of the Council, Vice President Kashim Shettima, underscoring the importance of the project.
NEC observed the significance of unlocking additional liquidity to the federation, among other benefits, pledging its support for the actualisation of the initiative.
The Finance Minister explained that the refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day – a 12.5 per cent reduction.
He noted that under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by the state oil company.
Mr Oyedele added that while accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.
“The arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures,” he said.
VP Shettima called for a responsive, scalable, and data-driven social protection policy to tackle multidimensional poverty in Nigeria.
According to Mr Shettima, government policies are often heard before they are seen, speak through the price of food, condition of hospitals, records in schools, strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.
He implored members of Council to ensure that every decision they make assure the citizens “that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose.”
By Modupe Gbadeyanka
Members of the public have been invited to submit memoranda and policy proposals on the proposed National Policing Bill.
The Chairman of the Working Group, Mr Femi Gbajabiamila, announced this on Monday after the team’s meeting at the State House in Abuja.
The group, headed by the Chief of Staff to President Bola Tinubu, is calling for input from Nigerians as part of efforts to establish a comprehensive legal and operational framework for state policing.
It is reviewing the Police Act 2020, the Police Service Commission framework, police regulations, and other relevant laws to support the development of an effective, modern policing system.
The proposed framework will set national minimum standards, define state readiness and grant certification, clarify jurisdictional responsibilities, ensure independent oversight, uphold human rights, and guarantee sustainable funding. It would also spell out an orderly transition to a dual-policing structure.
The call for memoranda will run for two weeks, allowing citizens, professionals, civil society, security agencies, state and local governments, academics, and other stakeholders to contribute. Submissions will be reviewed and integrated into the draft bill, which will then be subject to further national consultation before being finalised and sent to the National Assembly.
The Working Group has adopted a seven-week work programme running from July 27 to September 14, 2026. The draft Executive Bill is scheduled for presentation to President Bola Ahmed Tinubu on September 3, 2026, with national consultations to follow before the final approval.
The new National Policing Bill will set out requirements for recruitment, training, oversight, funding, and transition arrangements to ensure credible, effective, and accountable policing nationwide.
“A proposed State Police Service must demonstrate that it has credible arrangements for recruitment, vetting, training, pay, pensions, equipment, custody, complaints, discipline, data, firearms control, independent oversight and financial sustainability before it begins policing,” Mr Gbajabiamila said.
The representative of the Nigeria Governors’ Forum and Governor of Ogun State, Dapo Abiodun, who described State Police as a landmark reform, described the initiative as one of the defining reforms of President Tinubu’s administration.
Responding to concerns about federal overreach, he clarified that there is no Federal attempt to control State Police. He added that the proposed legislation is intended to provide an operational framework rather than centralise control.
Prince Lateef Fagbemi, the Attorney-General of the Federation and Minister of Justice, said the proposed National Policing Bill is designed to guarantee the security of lives and property while ensuring that the establishment of state police does not become a tool for political persecution.
The Attorney-General added that states not immediately ready to establish their own police services would continue to benefit from the presence of the Federal Police until they meet the required standards.
Other participants at the meeting included the Inspector General of Police, Tunji Disu; President of the Nigerian Bar Association, Afam Osigwe; Chairman, Policy Advisory Committee, Justice Abdullahi Liman (rtd); Professor Olu Ogunsakin, Head, Nigeria Police Reform Secretariat; Senior Special Assistant to the President on Planning and Research, Nnadubem Moghalu; and Brigadier General Olutayo Muyiwa Adesuyi, representing the National Security Adviser.
