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A Justice of the Supreme Court, Emmanuel Agim, has decried the poor reading culture and declining knowledge of the law among lawyers.

He described it as one of the major problems facing the country’s legal profession.

The Justice spoke at the Legacy Dialogue 2.0 organised by the JASAN Foundation in Abuja.

Its theme was: ‘Institutionalisation of mentorship in the legal profession: A strategic blueprint for professional development.’

Justice Agim said it was shameful that some lawyers hold court judgments in their hands yet fail to read them, only to appear on television to ‘spew ignorance loudly and with audacity.’

He said: ‘Poor readership and poor knowledge of law – that’s our problem today.

‘Some lawyers hold judgments in their hands but don’t read them. They go on television to spew ignorance so loudly and with audacity. It is a shame.

‘If a lawyer knows the law, it is very difficult for him to be unethical. If a judge knows the law, it is very difficult for him to be corrupt. But ignorance is bliss.’

Justice Agim also dismissed insinuations that judges belong to secret cults, describing such claims as absurd.

He said integrity and godly conscience remain the bedrock of the judiciary.

‘I have a conscience. Otherwise, I should not be going to church or praying. God is my protection and my refuge.

‘You cannot be evil and expect God to protect you. But whenever I say this, a friend would joke, ‘I thought they said you judges all belong to cults.’ It is not so. We are ordinary human beings.’

The jurist lamented the erosion of character and professional integrity in legal practice, noting that many lawyers now focus on winning cases at all costs rather than pursuing justice.

‘When I was a lawyer, we had cases already settled by law, and you knew what your opposing counsel would say. But today, people go to court to win, not to get justice,’ he said.

Justice Mabel Segun-Bello of the Federal High Court warned that the exodus of young lawyers from courtroom practice due to poor remuneration, lack of mentorship, and economic hardship poses a grave threat to the future of the legal profession.

She observed that fewer young lawyers are appearing in court, noting that the absence of structured mentorship has weakened the continuity of the Bar.

‘The legal profession is fast losing its continuity. Many young lawyers are leaving for corporate jobs, politics, or entrepreneurship.

‘Without guidance, any profession that leaves its young ones unguarded will lose continuity,’ she said.

Justice Segun-Bello, who pioneered digital affidavits in Nigeria’s judiciary, added that while technology has improved legal processes, it has also eroded traditional mentorship structures.

She urged senior lawyers and judges to take personal responsibility for mentoring younger practitioners to restore dignity and passion to the profession.

President of the JASAN Foundation, Johnny Agim (SAN), said the Foundation remains committed to fostering excellence in the legal profession through mentorship and sponsorship, aiming to raise 500 well-rounded young lawyers who would become judges or Senior Advocates of Nigeria within a decade.

Ondo State Attorney-General and Commissioner for Justice, Dr. Kayode Ajulo (SAN), called for the institutionalisation of mentorship within the legal community.

He said it should become a structured national priority.

‘Mentorship is not just a duty; it is a profound responsibility we owe to our future leaders,’ Ajulo said.

He urged senior lawyers and jurists to guide younger colleagues deliberately, stressing that success should be measured not only by personal achievements but also by one’s impact on others.

President Bola Ahmed Tinubu has inaugurated projects at the University of Ilorin (UNILORIN), as part of activities to mark the institution’s 40th convocation.

They include Faculty of Social Sciences building, a block of four lecture halls for Faculties of Social Sciences and Management Sciences, Department of English Drama studio in the Faculty of Arts, renovated blocks 1-10, renovated Department of Geography and Environmental Management building, remodelled UNILORIN Innovation Hub, and Technical Entrepreneurship Centre Road.

President Tinubu, represented by the Vice Chancellor, Federal University of Technology, Akure (FUTA), Prof. Adenike Oladiji, said the new projects underscored the essence of a true university system dedicated to the service of humanity.

He urged the university authorities to ensure proper maintenance and monitoring of the facilities, stressing that his administration’s Renewed Hope Agenda remained committed to advancing education and infrastructural development across Nigeria.

He said: ‘These projects symbolise the spirit of progress and innovation we envision for our nation. I urge Nigerians to believe in the Renewed Hope Agenda and support efforts to move the country from grass to grace.”

President Tinubu hailed the Vice Chancellor, Prof. Wahab Egbewole, SAN, and his management team for their dedication to transforming the university and aligning its vision with national development goals.

The Chancellor and Emir of Katsina, Alhaji Abdulmumin Usman, represented by the Waziri of Katsina, Senator Ibrahim Idah, lauded UNILORIN’s commitment to academic excellence and a conducive learning environment.

He described the projects as ‘worthwhile initiatives’ that would enhance teaching, learning and research, adding that the university’s focus on skill development would prepare students for life beyond the classroom.

Prof. Egbewole thanked President Tinubu for honouring the institution’s invitation and supporting its infrastructural growth.

‘We remain committed to continuous improvement and will ensure the university grows stronger and better each day,’ he said.

Dignitaries at the ceremony included the Pro-Chancellor, Abiodun Aluko; principal officers of the university and well-wishers from within and outside the institution.

Returnee Maduka Okoye has earned the praises of Udinese coach Kosta Runjaic despite conceding twice in his side’s 3-2 victory over Lecce in Serie A on Saturday.

He noted that the Super Eagles goalkeeper’s limited game time made the outing a challenging one.

Okoye who missed Udinese’s opening fixtures of the 2024-25 season while serving a two-month ban for a betting-related offence, made his season debut in a 1-1 draw against Cremonese and returned between the sticks for the clash with Lecce.

The Nigerian international is still seeking his first clean sheet of the campaign, conceding two second half goals at the Bluenergy Stadium.

Udinese led 2-0 at halftime thanks to strikes from Jesper Karlstrom and Keinan Davis, but Medon Berisha pulled one back with a spectacular free-kick in the 58th minute, leaving Okoye catching thin air as the ball flew into the net.

Ten minutes later, Okoye misjudged a corner but was fortunate when his defence cleared the danger.Adam Buksa restored Udinese’s two-goal cushion in the 89th minute, only for Konan N’Dri to fire a stunning shot into the top corner from outside the box, beating Okoye once again.

Speaking to reporters after the game, Runjaic said: ‘Okoye hasn’t played for two months, he’s only been on the pitch in training. I think it’s not an easy situation for anyone in general.

‘He didn’t have much to do in the first half, but despite that, we need to maintain the right level of concentration. I still have to review the goals.

‘Okoye tried to give his all. His best, it’s a success that gives an important boost on a psychological level.’

Super Eagles coach Eric Chelle will be monitoring Okoye’s performances ahead of his squad announcement for next month’s 2026 World Cup qualifying playoff against Gabon.

Solid Minerals Development Minister Dr Dele Alake has charged investors to increase their stakes in Nigeria’s solid minerals sector, following positive reforms that promise higher returns.

Speaking on the theme ‘Connect and Collaborate, Co-Build and Co-Share’ at this year’s China Mining Conference in Tianjin, Alake impressed his hosts with security reforms, including the Mining Marshals and the satellite mines monitoring project, which were introduced to protect licensed miners and curtail illegal mining.

He cited upgrades in technology to ease doing business and processing applications, such as the Electronic Mining Cadastre, EMC+, the Nigerian Mineral Resources Decision System, NMRDS, the Centre of Excellence, and the websites of the ministry and agencies, as unique utilities to improve remote transactions globally in Nigeria’s mining sector.

Reviewing the Chinese mining business, Alake acknowledged that investments in lithium processing alone grossed $1.3 billion since September 2023, adding that MOUs signed by President Bola Tinubu during the state visit in September 2024 have led to substantial investment commitments.

His words: ‘Since September 2023, when this administration assumed office, Chinese companies such as Canmax Technology, Jiuling Lithium, Avatar New Energy Nigeria Company, and Asba have invested over $1.3 billion in lithium processing.

‘The investments have boosted Nigeria’s economic diversification efforts, reduced its dependency on oil and attracted infrastructure, technology transfer, and expertise. Joint Ventures between Chinese and Nigerian companies in the mining sector often enhance local capabilities and skills among Nigerian workers and engineers.

Alake, who is the chairman of the Africa Minerals Strategy Group

(AMSG), reaffirmed Nigeria’s commitment to strengthening

continental cooperation in mineral exploration and reporting

standards, stating that Africa must build shared systems of

knowledge and governance if it is to fully benefit from its vast

mineral endowments.

He reaffirmed plans to strengthen the regional Centres of Excellence in

Geosciences and Mining Skills, and to expand the role of the Solid

Minerals Development Fund (SMDF) and the SMDF-AFC Facility in

supporting early-stage exploration and de-risking investments.

‘We warmly invite investors, development partners, and technical institutions to explore Nigeria’s vast opportunities in minerals such as lithium, gold, lead-zinc, barite, and rare earth elements. Our government offers a conducive investment climate, improved security of tenure, and incentives that guarantee mutual benefit.

‘Nigeria’s vision is not only to extract minerals but to build a globally competitive value chain that supports clean energy transition, job creation, and industrial growth, all within the framework of responsible mining,’ he said.

Representing Nigeria in the technical session on ‘Mining in Africa and

Policy,’ Director-General, Nigeria Geological Survey Agency, Professor Olusegun Omoniyi Ige highlighted

The National Mineral Resources Data System (NMRDSS) and Nigeria’s

extensive aeromagnetic and geochemical datasets, which together

provide a solid foundation for informed mineral exploration.

He noted that while these datasets have greatly improved the country’s

geological understanding, greater investment is still required to

Expand exploration coverage and convert data into proven mineral resources.

Other speakers included Mr Xu Xueyi, Deputy Director-General of the

China Geological Survey; H.E. Mohamed Ahmed Taha, Minister of

Minerals of Sudan; Ms Phumzile Mgcina, Deputy Minister of Mineral

and Petroleum Resources of South Africa; and Mr Joseph Lebbie,

Director-General of Geological Exploration, Sierra Leone.

A stakeholder of the All Progressives Grand Alliance (APGA), Dr Azubuike Ekweozor, has donated the sum of N10million and a Toyota Sienna bus to Governor Soludo’s Campaign Council ahead of the November 8 gubernatorial poll.

The benefactor, who is the Convener, Ide Global For Soludo Second Term Support Group, handed over the items to the Campaign Council during the Awka South LGA Endorsement Rally, held at Government Field, Amawbia.

Ekweozor said the gesture was his own wholehearted support to ensure that Soludo emerged victorious in the election.

He said he had confidence in Soludo’s administration and also expressed confidence that the governor would win the upcoming poll.

Acknowledging the party’s dominance over other contesting political parties, the Umuawulu-born philanthropist stressed that his love for APGA knew no bounds, expressing his readiness to do more for the party.

Acknowledging the party’s dominance over other contesting political parties, the Umuawulu-born philanthropist stressed that his love for APGA knew no bounds, expressing his readiness to do more for the party.

Venezuela’s President Nicolás Maduro said the U.S. government is forging a war against him as the world’s biggest warship approached the South American country.

The president is, however, moving to revoke the citizenship of an opponent he accuses of egging on an invasion.

Maduro said in a national broadcast on Friday night that the administration of President Donald Trump is ‘fabricating a new eternal war’ as the aircraft carrier USS Gerald R. Ford, which can host up to 90 airplanes and attack helicopters, moves closer to Venezuela.

On Saturday, the Venezuelan president also referred to the pressure he has felt from the U.S. government as he started legal proceedings seeking to revoke the citizenship and cancel the passport of opposition politician Leopoldo López.

‘They promised they would never again get involved in a war and they are fabricating a war that we will avoid,’ said Maduro in Friday night’s address. Trump has accused him, without providing evidence, of being the leader of the organised crime gang Tren de Aragua.

‘They are fabricating an extravagant narrative, a vulgar, criminal and totally fake one,’ Maduro added. ‘Venezuela is a country that does not produce cocaine leaves.’

American forces have destroyed several boats off the Venezuelan coast, allegedly for their role in trafficking drugs into the United States. At least 43 people were killed in those attacks.

Tren de Aragua, which traces its roots to a Venezuelan prison, is not known for having a big role in global drug trafficking but for its involvement in contract killings, extortion and people smuggling.

Maduro was widely accused of stealing last year’s election, and countries including the U.S. have called for him to go.

Earlier, Venezuelan Vice President Delcy Rodríguez said on her Telegram account that Maduro had appealed to the country’s Supreme Court of Justice to revoke López’s nationality for his ‘grotesque, criminal, and illegal call for a military invasion of Venezuela.’

López, a well-known Venezuelan opposition figure who has been exiled in Spain since 2020, has publicly expressed his support for the deployment of U.S. ships in the Caribbean and attacks on suspected drug trafficking vessels.

The vice president said that López’s passport will be revoked ‘immediately,’ and that he is also accused of promoting ‘economic blockage’ and ‘calling for the mass murder of Venezuelans in complicity with enemy and foreign governments.’

The opposition leader reacted on his X account, dismissing the move because ‘according to the Constitution, no Venezuelan born in Venezuela can have their nationality revoked.’ He once more expressed support for a U.S. military deployment and military actions in the country.

‘Maduro wants to take away my nationality for saying what all Venezuelans think and want: freedom,’ López wrote. ‘After having stolen the 2024 election, we agree to pursue all avenues to end the dictatorship,’ the politician added.

López spent more than three years in a military prison after participating in anti-government protests in 2014. He was sentenced to more than 13 years in prison on charges of ‘instigation and conspiracy to commit a crime.’

He was later granted house arrest and, after being released by a group of military personnel during a political crisis in Venezuela, left the country in 2020.

With less than two weeks to the November 8 governorship election in Anambra State, no fewer than 76 market associations in the state have signed a Memorandum of Understanding (MoU) pledging their support for the All Progressives Congress (APC) governorship candidate, Prince Nicholas Ukachukwu, and his running mate, Senator Uche Ekwunife.

Similarly, Imo State indigenes residing in Anambra, led by a former Chairman of Ogbaru Local Government Area, Callista Nwachukwu, have also endorsed the APC duo.

The signing ceremony took place at Omasi, in Ayamelum Local Government Area, where traders and political stakeholders gathered to declare their support.

In an emotion-laden speech, Ukachukwu thanked the traders for their confidence, assuring them that his administration would fully harness the gas deposits in Ayamelum for the benefit of Anambra citizens if elected.

He said, ‘We will begin implementing our transformative agenda immediately after taking office, starting with restoring security, ensuring 24-hour power supply, providing scholarships, and improving the overall welfare of Ndi Anambra.’

Ukachukwu appealed to the traders to vote massively for the APC, and to mobilise their families, neighbours, and associates to ensure a landslide victory at the polls.

Speaking on behalf of the traders, their leader, Nze Theo Obiora, expressed gratitude to Ukachukwu for publicly signing the MoU, describing it as a demonstration of sincerity and accountability.

He listed some of the challenges facing traders in the state, including multiple taxation and harassment by revenue agents (Ndi Aka-odo) under the current administration, which he said had caused hardship in the markets.

Obiora assured Ukachukwu that the traders were united in their resolve to vote for the APC ticket, confident that the duo of Ukachukwu and Ekwunife would restore dignity and prosperity to Anambra’s business community.

Africa’s growing dependence on imported staple foods is crippling smallholder farmers and undermining domestic agriculture in countries such as Nigeria and Morocco, a leading agricultural economist has warned. Rachid Doukkali, Professor of Applied Economics at the College of Agriculture and Environmental Sciences, University Mohammed VI Polytechnic (UM6P), said the continent’s swelling food import bills are eroding farm profitability and exposing millions of rural households to deeper poverty.

Responding to emailed questions from The Nation on Africa’s food situation, Doukkali noted that although the continent maintains a relatively balanced trade in agri-food products, its ‘Achilles’ heel’ remains an ever-widening gap in cereal supply.

‘Generally, when we talk about food deficit in Africa, we are only referring to the deficit in cereals and not to other agri-food products, which are generally in surplus. This cereal imbalance stems from a race between production and consumption.’

‘Despite a high average annual growth rate in cereal production of 2.7 per cent between 2003 and 2023, this was insufficient to keep pace with a 2.9 per cent rise in consumption, driven by both a strong population surge and the effects of urbanisation,’ he said.

He explained that the consequences are most severe in net staple-importing nations such as Nigeria and Morocco, where governments feel pressured to keep food prices artificially low to avoid social unrest. ‘Because staple foods constitute a very high proportion of the expenditure for the majority of less well-off households, governments in these countries face immense pressure to keep domestic prices low,’ he said.

According to Doukkali, the pressure has pushed policymakers toward large-scale importation – often at subsidised global prices – with devastating consequences for local producers. ‘Given that the large majority of small producers are specialised in the production of these staple foods, they are indirectly taxed (or indirectly disadvantaged) by these low prices,Ultimately, states in developing countries, particularly in Africa, make their small farmers pay indirectly for low price policies to urban consumers of these staple products,’ he noted. ‘

The result, he warned, is declining profitability, weak competitiveness, and stagnating productivity among smallholder farms – the backbone of Africa’s food system.

Doukkali also issued a stark warning on climate change, calling it ‘an existential threat’ to African agriculture. He said both rain-fed farms and capital-intensive irrigation systems now face significant risks. ‘Any lack of irrigation water can severely affect the profitability of investments,’ he cautioned.

To secure the continent’s food future, the professor urged African governments and development agencies to rethink their technology and extension models. While improved seeds and precision techniques exist, he said their impact remains muted because they are introduced without considering the financial and social realities of smallholders. ‘The first thing to do is to try to understand farms as systems.What is technically efficient is not necessarily socially or economically efficient for the small producer,’ he argued.

On the African Continental Free Trade Area (AfCFTA), Doukkali said the agreement holds ‘the most powerful potential to reduce reliance on extra-continental food imports. Currently, intra-African food trade represents less than 20 per cent of total agri-food trade, but the AfCFTA promises significant change.’ However, he warned that the road will be long, citing hurdles in logistics, standards, governance, and rules of origin.

The professor contrasted Morocco’s thriving export-oriented agribusiness sector with the struggles of its 1.4 million smallholder farmers, who suffer post-harvest losses of up to 30 per cent due to weak infrastructure. He praised Morocco’s investments in cooperatives and its Green Morocco Plan and Green Generation Strategy, which offer 100 per cent subsidies for collective equipment, aggregation projects, and small-producer export programmes.

He stressed that Africa – Morocco and Nigeria included – must ring-fence minimum cereal self-sufficiency to withstand future shocks. ‘A minimum of domestic production must be ensured to guarantee the country’s food security,’ he insisted, pointing to recent global crises as a warning.

The Nigerian politico-administrative setup can be harnessed for development planning in the country. There are seven layers of politico-administrative domains with distinct political representatives/caretakers and geographical delineation. At the apex is the nation as a geographical domain with the president as the caretaker. There is the state as a domain under the care of the governor. We also have the senatorial districts with the senator as the representative, and the House of Representatives with the member as the caretaker.

Then at the state level, we have the House of Assembly member as the representative, followed by the Local Government Council with the chairperson as the caretaker, and finally, the political ward domain with the councillor as the caretaker. This setup is like the organic setup of the human body, which is made up of distinct organs of cells working together to make the human body function as a whole.

Political wards are the basic foundation on which the country’s governance is based, and like the human body, with different organs, a collection of political wards make up a Local Government Area (LGA). In the same fashion, a collection of LGAs make up a state and the Federal Capital Territory (FCT). Each state has three senatorial districts with the FCT having a single senatorial district. This explains why the upper house of the National Assembly, the Senate, has 109 members. A senatorial district is made up of many LGAs, but fewer than the LGAs in each state. The House of Representatives are delineated based on population so that their numbers vary from five in Bayelsa and Nasarawa states to 24 in Lagos and 44 in Kano states. The House of Representatives has 360 members. Each state House of Assembly has members from each LGA, so that they vary in size of membership, ranging from eight members in Bayelsa State to 44 in Kano State. Each Local Government Council has members from each ward, which vary in number from LGA to LGA. On the whole, there are on average 11 wards per LGA. There are 8,809 wards according to the Independent National Electoral Commission (INEC), which are used as registration centres for elections in the country. The ward is the political and administrative unit closest to the households where people live and work. Therefore, each one of us belongs to a ward. It is the closest quasi-administrative entity that harbours the household as a family or group of individuals or an individual on its own. The political ward can therefore be harnessed as a building block for national economic development under the bottom-up approach to development.

Bringing development to wards can enhance the welfare of people, and the level of development at each ward can be used to assess or evaluate governance periodically.

The reasoning behind this bottom-up approach is that urbanisation of wards is key to the development of the nation. In terms of political engagement, all mobilisations start in the neighbourhoods of wards where people live and vote. Therefore, it is our origin and our destiny. If wards are liveable and all shades of economic infrastructure (electricity, roads, for example), social infrastructure (portable water, education, health), and institutional (government organs) are fully functional, the nation will be laying the seed of development.

The creativity of the people in the wards will be unleashed as they blossom to create employment and income, which the government can harness for tax generation. The welfare of the people will be enhanced. Therefore, if we are to make wards the centre of our Sustainable Development Goals agenda, the change being championed by the present administration will be easier to achieve.

The understanding of the development process in most developing countries, Nigeria inclusive, has always been based on orthodox development theories, which tend to support a strong central or federal government with large-scale expenditures and investments in all areas of human endeavours, from food production to investment in manufacturing, including oil refineries, as well as the provision of all forms of infrastructure. This top-down approach to development may be necessary at the incipient stage of the development process, but as the economy matures, this model has to change. The fundamentals of the economy will need to change, and governance has to be organised from the bottom up to ensure an inclusive development. This is the core message of this treatise on transforming Nigeria’s political wards into the building blocks for sustainable national development.

A major challenge in the traditional development process is the lack of inclusiveness, that is, how to coordinate people at the household or link political wards with power at the centre. People are now beginning to realise that the government at the top has become too large and too distant to allow for any meaningful participation of all in the development process. This new development process can be organised formally by making the wards agglomeration centres of economic, political, and administrative activities. This way, Nigeria will be managed from the 8,809 wards, which will be connected to a governance web for development. This novel approach to development will also allow the democratic process to grow as the people at this grassroots level (wards) will be able to interact and relate with their political representatives; the councillors, state House of Assembly members, House of Representatives members, up to the senators. This interaction is required because societal problems that constantly confront people manifest at the wards level. It is at this level that insecurity, irregular supply of electricity, absence of motorable roads and potable water, as well as dysfunctional primary schools and health centres are felt the most by the citizens.

The president and governors pontificate at the top, but the people in the wards pick the garbage. It is leaders at the wards level that should matter to the people the most. Being leaders at the wards, they understand the terrain, the mentality of the people, their idiosyncrasies, problems, and needs. They are the best to articulate issues at the wards to the political class at the higher levels. These wards councillors could network with their colleagues at the local government, state, or federal level, collaborate, and probably form a council of wards leaders as an involuntary national network with local chapters to champion the course of wards.

Although, wards may be different ecologically and in terms of resource endowments, they resemble one another functionally and infrastructurally. They are the smallest domains of administration and the closest form of administration to the people, but they are traditionally under the weight of a dysfunctional local, state and federal administration. All that is needed is to turn these wards into political and economic nodes to become the focal points for development because they all have similar societal problems to contend with.

A bold suggestion, washing out of the foregoing exposition that will make the wards the bedrock of socio-economic development is to find a way of managing them in a secular way devoid of any political, ethnic and other interferences. That is, secular in a purely administrative sense and independent of party politics, pious activities, ethno-centric beliefs and traditional institutions. This way, the management of wards will start with the assemblage and management of statistical information that will be regularly and administratively collected. Such information will include both numeric and non-numeric statistics or facts about the ward. This exercise will be formalised by creating in each of the 8,809 wards, a Political Ward Management Desk (PWMD) which will manage an integrated information management system in the office of the councillor in the ward. The system will house information on individuals and all economic, social and institutional activities at the ward level which can be organised cumulatively for national development planning.

SIR: In recent years, Nigeria has witnessed a powerful wave of ‘Japa’ – skilled workers, young professionals and entrepreneurs leaving in search of greener pastures abroad. At the same time, the rise of hybrid and remote work means many Nigerians remain globally connected: working for foreign firms, earning in dollars, or living partly abroad while attached to Nigerian employers. These diasporans represent a huge potential for foreign investment back into the country that remains largely untapped.

The National Pension Commission (PenCom) recently issued a landmark Guideline on Foreign Currency Contributions under the Contributory Pension Scheme (CPS), allowing Nigerians abroad and foreign professionals in Nigeria to contribute in U.S. dollars. This is a major step – not only aligning Nigeria’s pension system with global realities but offering a new vehicle for preserving value and boosting the Naira by attracting fresh dollar inflows.

Under the new regulation, eligible participants – Nigerians living or working abroad, expatriates in Nigeria paid in foreign currency – may remit their pension contributions only in U.S. dollars, channelled into dedicated foreign currency Retirement Savings Accounts (RSAs). For diaspora Nigerians, the remittance path runs through Non Resident Nigerian Ordinary Accounts (NRNOAs), while those in Nigeria earning in foreign currency must use domiciliary accounts linked with their Pension Fund Administrator’s (PFA) custodian bank. PFAs will invest such contributions in a distinct ‘Dollar Fund’, focusing on dollar denominated assets such as Eurobonds, supranational bonds, and U.S. backed instruments. Contributors may withdraw benefits in dollars or optionally convert to Naira at prevailing rates at retirement or earlier, subject to the withdrawal rules provided. The rationale is to stabilise pension value for globally mobile workers, hedge currency risk, and open the Nigerian pension system to wider global labour pools.

One of the most compelling benefits of this reform is its potential positive effect on the Naira. Remitted dollars into these RSAs mean fresh foreign currency flows into the banking and pension ecosystem. As more Nigerians abroad choose to channel part of their income home via pension contributions, the cumulative effect may ease foreign exchange scarcity, reduce pressure on the Naira, and promote outward investment in local productive assets. In other words: while the CPS traditionally operated in Naira and was exposed to devaluation risk, the new dollar denomination offers a natural hedge. For contributors, this means greater value preservation; for Nigeria, it means stronger external currency inflows and enhanced credibility of the pension industry.

The reform solves a long standing gap. For many years, Nigerians earning abroad were effectively excluded from automatic participation in the CPS because contributions in Naira meant currency loss, conversion hassle and remittance drag. Meanwhile foreign professionals in Nigeria had to navigate multiple pension options. By opening a clear pathway for dollar based contributions, PenCom makes the CPS truly inclusive. The broader workforce – diaspora Nigerians and international talent – now have a simple, regulated vehicle to secure retirement savings in a globally transferable currency. This helps expand coverage, deepen capital markets and give Nigeria a competitive pension proposition.

However, despite its good intentions, it all comes down to implementation – the existing local scheme is still struggling to gain acceptance, and its full potential continues being undermined by misinformation and under-education. The PFAs, PFCs and PenCom will have to ramp up their education and advocacy locally because the people abroad will be heavily dependent on the opinions of their family and friends in Nigeria in making these decisions. In addition, the operators need to find creative ways to capture the hearts and pockets of the diaspora market that is out there.

For Nigeria, this reform is a signal that the pension industry is evolving to match the modern world of remote work, global mobility and integrated savings. By embracing dollar contributions, PenCom is sending a message: Nigeria’s CPS is no longer just a domestic scheme – it is open, globally competitive and investor friendly. If stakeholders collaborate thoughtfully – PFAs educating participants, banks facilitating smooth remittances and regulators ensuring transparency – the reform has the potential to become one of the most transformative in the industry’s two decade history.