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Kano State Governor, Abba Kabir Yusuf, has announced new opportunities in school feeding, healthcare, and foreign investments for the state following Kano’s participation at the 80th Session of the United Nations General Assembly (UNGA80) High-Level Week in New York.

The governor, who was represented at the event by the Emir of Kano, His Highness Khalifah Muhammad Sanusi II, and the Director-General of the Kano State Investment Promotion Agency (Kan-Invest), Muhammad Naziru Halliru, said the engagements created fresh avenues that will boost human development and economic growth across Kano.

One of the major outcomes was the discussion on school feeding programmes. Emir Sanusi met with Kenyan entrepreneur and founder of Food4Education, Wawira Njiru, to explore collaboration aimed at expanding school feeding in Kano. The talks also involved the possibility of accessing African Development Bank funds already earmarked for African school feeding initiatives. Governor Yusuf explained that such a move was vital in tackling malnutrition among pupils, keeping children in school, and raising academic performance. He stressed that investing in children’s nutrition was an investment in Kano’s future, since well-fed children are more likely to stay focused in class and become productive citizens.

The delegation also highlighted Kano’s healthcare needs and reforms during engagements with global stakeholders. At the Bill and Melinda Gates Foundation Goalkeepers Event, the team presented Kano’s challenges in maternal health, immunisation, and access to primary healthcare. Governor Yusuf emphasised that forging global partnerships in the health sector was crucial to addressing service delivery gaps, especially in rural communities. He explained that the administration was already working to expand health facilities, ensure steady drug supply, and recruit more healthcare professionals to meet the growing needs of the people.

On the economic front, Kano showcased its vast investment opportunities at the Global Compact: Unstoppable Africa and the Cavista Holdings/Corporate Council on Africa Summit. The state presented itself as a potential hub for global investors by stressing its market size, agricultural resources, and skilled workforce. Yusuf revealed that the state government would soon unveil a five-year multi-sectoral investment strategic plan that would serve as a roadmap for attracting foreign direct investment, expanding job opportunities, and increasing internally generated revenue. He declared that Kano, being Nigeria’s most populous state, was positioning itself as the leading investment hub not just in Northern Nigeria but in the entire country. The governor commended Emir Sanusi for representing Kano with distinction at UNGA80. He said the emir’s international recognition, experience in economic matters, and global contacts gave the state an advantage during its engagements. Sanusi, a former governor of the Central Bank of Nigeria and a respected voice on financial inclusion, was well received at the various side events, where he reinforced Kano’s commitment to reforms and global cooperation. Yusuf described the emir as a strong ambassador for the state whose presence elevated the quality of the conversations held with international partners.

According to the governor, Kano’s participation in UNGA80 is in line with his administration’s broader vision of linking the state to global networks of development, investment, and innovation. He maintained that Kano could not rely solely on internal resources to meet its pressing challenges in education, healthcare, and the economy. Instead, it must embrace global partnerships that can provide funding, technical expertise, and new ideas. He noted that the results of these efforts were already showing in the interest expressed by international partners and organisations that engaged with the Kano delegation.

Observers believe Kano’s involvement at UNGA80 could prove to be a turning point if the discussions lead to concrete outcomes. The possible partnership with Food4Education, for example, could have a major impact on thousands of children in public schools by improving access to meals and encouraging attendance. Similarly, the state’s pitch at international investment summits may attract new industries that would create jobs, stimulate commerce, and reduce poverty.

Yusuf assured the people of Kano that his administration would not allow the outcomes of UNGA80 to end as mere conference appearances. He pledged that all commitments made in New York would be followed up and converted into tangible results for the benefit of the state. He added that his government was not interested in attending global meetings for photo opportunities but was determined to bring back solutions, partnerships, and investments that would directly improve lives.

Governor Lucky Aiyedatiwa of Ondo State has commended President Bola Tinubu for his bold economic reforms, social re-engineering and massive infrastructural developments under the Renewed Hope agenda.

This is just as he reaffirmed his administration’s commitment to service, actions and visible results as Nigeria marked its 65th Independence anniversary.

Speaking at a celebration held at the Gani Fawehinmi Arcade, Akure, the governor joined millions of Nigerians in reflecting on the nation’s journey since 1960, describing independence as both a gift of self-rule and the dignity of identity.

According to him, despite challenges of civil strife, military rule and economic hardship, Nigeria has remained united and resilient, commending President Bola Ahmed Tinubu for his bold economic reforms across all sectors. Aiyedatiwa said, ‘As a country, we have come far. We have weathered through civil strife and military rule, and we stand tall as the largest democracy in Africa. We have made significant contributions to peacekeeping operations across the continent, proving that Nigeria is not only a giant in population but also in responsibility. Our economy, though faced with challenges, has produced world-renowned entrepreneurs, economists, scientists, artists and sportsmen who have carried the Nigerian flag to the ends of the earth. Above all, we have remained united, over 200 million people of different tongues, faiths and traditions, still bound together under one green and white flag.

‘Our country is blessed at a time like this to have a visionary leader like His Excellency Asiwaju Bola Ahmed Tinubu, GCFR, President and Commander in Chief of Armed Forces of Nigeria. We must continue to appreciate Mr President for his bold economic reforms, social re-engineering and massive infrastructural developments. Right now, indications are that, Nigeria is certainly making progress and on the path of glory under the Renewed Hope Initiatives of Mr President.’

Reviewing the strides of his government since assuming office on February 24, 2025, Aiyedatiwa reeled out achievements across key sectors, highlighting the ongoing dualisation of the Akungba-Ikare and Okitipupa-Igbokoda highways, the construction of walkways and jetties in riverine areas, and the approval of five kilometres of roads in each of the state’s 18 local government areas. ‘These would open up communities, ease transportation and bring development closer to the grassroots. Roads are not just pathways, they are lifelines that will boost commerce, agriculture, reduce travel stress and encourage economic activities and the daily life of our people.’ the governor said.

In the health sector, he noted the expansion of the State Contributory Health Scheme, commissioning of a pharma-grade warehouse for drug distribution, renovation of hospitals, revitalisation of primary healthcare centres and recruitment of more health workers.

‘Education has also witnessed steady improvements with rehabilitated classrooms, digital learning opportunities, scholarships and bursaries, and the continued operation of free shuttle buses and boats for students.’

The governor further disclosed that his administration has secured 26,000 hectares of land and earmarked ?7.5 billion for agricultural development, which he said will boost food security and create jobs. Aiyedatiwa listed other interventions, including the provision of 75 security vehicles fitted with modern gadgets, the construction of 32 executive council housing units, prompt payment of salaries and pensions, attention to gratuities, and prudent financial management that has reduced the state’s domestic debt profile.

‘Workers’ salaries and pensions are paid regularly and up to date. Recruitment into critical sectors is ongoing to keep our workforce vibrant and effective,’ he stressed.

Nigeria is a sinking ship whose occupants are swimming to safety on the pieces of lifebuoy thrown to them. Are Nigerians not leaving in droves for foreign countries? And are they not serving as food to the famished sharks and whales in foreign seas?

The fact is that Nigeria, a well-endowed country, has become an unlivable geographical space from which her citizens are fleeing. Daily, in Nigeria, hundreds of people are needlessly killed by bandits, terrorists, kidnappers, and the killer herdsmen. The nightmarish security challenges in our country seem to be unending. And millions of Nigerians, who have been reduced to subhumans through our political leaders’ mismanagement of our economy, are living below the breadline now.

Nigeria’s sad and bad condition is attributable to the leadership crisis, which has affected the country over the years. Since our country’s attainment of political sovereignty in 1960, good political leadership has continued to elude her.

Until 1999, dictatorial military regimes, which alternated with corrupt political leaderships, stunted our economic development, stymied our technological advancement, worsened our infrastructural rot and deficit, and caused the deepening of our religious and ethnic fissures.

In 1960, six years after we had achieved political emancipation, the Nigeria-Biafra civil war raged with its calamitous and disastrous effects. The fratricidal civil war caused the depredation of our economy, the destruction of our national infrastructure, and the decimation of our population. Thereafter, we experienced a military interregnum, which culminated in the birth of the second republic in 1979.

The second republic was truncated by the coup d’état executed by Muhammadu Buhari. It took place on December 31, 1983. Before the execution of the coup by the beret boys, Alhaji Shehu Shagari, a political dark horse, had piloted the affairs of Nigeria from 1979 to 1983. His government was toppled because it was alleged to be corrupt.

And between 1983 and 1998, save the brief period when Chief Ernest Shonekan held the reins of power, military officers took turns to rule Nigeria. While Muhammadu Buhari, who was known for his Spartan lifestyle, enacted draconian and retroactive decrees to rule Nigeria, Ibrahim Babangida institutionalised corruption in the country. And he took Nigeria on a transition to civilian rule rigmarole that landed us in a political cul-de-sac. But in the midst of the political quagmire into which Nigeria was thrown owing to the annulled June 12, 1993, presidential election, the vampiric Sani Abacha shoved aside the interim government of Ernest Shonekan to take the saddle of power. Sani Abacha was a blend of thieving tendencies and sanguinary proclivities.

Not only did he steal Nigeria blind, but he also liquidated some democracy activists, who were agitating for the revalidation of the late MKO Abiola’s stolen political mandate.

Happily, Nigeria transitioned to democratic rule upon Sani Abacha’s demise in 1998. And since 1999 and until now, we have enjoyed twenty-six years of unbroken democratic governance with one political leader handing over political power to another political leader without the country descending into an anarchic situation. That in itself is a milestone achievement considering Nigeria’s deep-seated disunity, which is caused by the existence of ethnic animosity and religious intolerance among Nigerians. However, the fact is that the elections that produced our past successive national leaders in the Fourth Republic were marred and marked by election malpractices. For example, in 1999, Chief Olusegun Obasanjo was helped to become the president of Nigeria to placate the indignant Yoruba people regarding the annulled June 12, 1993, presidential election. Alhaji Umaru Musa Yar’adua, who succeeded Chief Obasanjo as the president of Nigeria, confessed that the election that brought him to office was deeply flawed.

And the declaration of Ahmed Bola Tinubu as the president-elect in 2023 was hotly contested in the court then.

It is a known fact that when the electoral processes that bring a politician to power are flawed, the political will and choices of the people will be subverted. And that situation negates the political axiom, which says that political sovereignty belongs to the people. And a national leader who enters the saddle of power via electoral malpractice will not be accountable to the people.

So, not surprisingly, corrupt political leadership has become endemic and pervasive in our country. Now, our political leaders who hold sway at different governmental strata perceive their occupation of exalted political offices as opportunities for them to acquire money by dipping their fingers into our exchequer.

Consequently, our country’s economy oscillates between slipping into recession and exiting from it. So millions of young Nigerian graduates pound the streets daily in search of the non-existent white- and blue-collar jobs. And innumerable Nigerian workers, who are not paid living wages, live below the breadline. They scrounge for food, which they will eat, sacrificing their dignity in the process.

Again, Nigeria suffers from an infrastructural deficit and rot. Long stretches of some federal roads have fallen into a state of disrepair. And the healthcare delivery system in Nigeria is comatose. Consequently, rich Nigerians, who are ailing, embark on health tourism in foreign countries for the treatment of their various health conditions. And the dysfunctionality of our educational system, which is caused by decades of governmental neglect, is at the root of our universities’ production of unemployable graduates, who are found wanting in character and learning.

Worse still, Nigeria is ravaged by grave security challenges, which have returned her to the Hobbesian state of nature where life is short, brutish, and nasty. Is the north not still in the firm grip of Boko Haram insurgency, terrorism, banditry, and the killer-herdsmen menace? And in the southern part of Nigeria, kidnapping rich people for ransom has become a lucrative business venture for kidnappers.

Nigeria, as she is now, is a rudderless ship cut adrift on the tempestuous sea of political, technological, economic, and educational uncertainties. As it is on autopilot, it is being tossed about on the choppy water by the pitiless currents.

But the solution to our many hydra-headed problems lies in our electing patriotic leaders who possess probity and leadership qualities. It is only they who can fix our national problems and entrench unity among us. And it is only they who can give Nigeria a people’s constitution, which will transform Nigeria into a true federal state.

Heliconia Park has officially opened the doors of its newest and third destination, the Heliconia Park Port Harcourt Hotel and Golf Resort. The launch is said to mark a significant milestone for the brand, bringing a new standard of hospitality, lifestyle, and leisure to Port Harcourt.

According to the owners, guided by a vision that blends refined elegance with tailored experiences, the resort is said to reaffirm Heliconia Park’s mission to deliver secure, stylish, and welcoming spaces for both business and leisure guests.

Set within the quiet Intels Camp, Aba Road Estate, the resort says it is designed to be more than a place to stay.

With a golf course, and stylish suites the hotel combines Italian sophistication with African warmth, fine dining restaurants that are said to celebrate global and local cuisines, swing pool, tennis court, squash amidst sumptuous green areas, the Port Harcourt resort is seen as a destination where comfort meets timeless elegance, and every detail has been created to welcome guests with warmth and a sense of belonging, according to the promoters.

Speaking at the launch, Pasquale Fiore, the CEO of Heliconia Park, said: ‘This is not just another hotel. This is a destination and a home for excellence. Port Harcourt has long been a hub of energy, commerce, and culture, and by investing here we reaffirm our commitment to this city, its people, and its future. Heliconia Park was founded on the belief that true luxury is welcoming, personal, and tailored, and this resort embodies that very spirit.’

He went on: ‘We started Heliconia Park in 2022 with the opening of its first hotel in Port Harcourt, followed by the Lagos Luxury Apartments and Suites in 2024, officially inaugurated in February 2025. The launch marks a significant milestone in the brand’s growth journey in Nigeria, each chapter reflecting a vision of fine hospitality rooted in excellence, inspired by culture, and crafted with timeless standards of service.’

Also speaking at the event, Mike Epelle, Director at Heliconia Park, remarked: ‘The arrival of Heliconia Park Hotel and Golf Resort is a welcome addition to Port Harcourt. It reflects the city’s growing appeal as both a business and leisure hub, and we are proud to see such an investment that will not only elevate hospitality standards but also contribute to local tourism and economic growth.’

The launch of the Port Harcourt Hotel and Golf Resort underscores Heliconia Park’s philosophy of ‘Approachable Luxury,’ where prestige meets comfort and every guest feels both valued and at home. It is also a powerful reaffirmation of the brand’s growth journey, from its beginnings in Port Harcourt, to Lagos, and now back to the Garden City with a bold new resort, positioning Heliconia Park as one of Nigeria’s most dynamic luxury hospitality brands.

Heliconia Park is indicated as a home-grown Nigerian luxury hospitality brand redefining the guest experience with secure, stylish destinations, guided by its philosophy of ‘Approachable Luxury.’ Founded in 2022 with the launch of Heliconia Park Hotel and Suites in Port Harcourt, the brand says it has has since expanded with the Lagos Luxury Apartments and Suites in 2025 and now celebrates its third branch, the Heliconia Park Port Harcourt Hotel and Golf Resort.

It is located within the prestigious INTELS Aba Road Estate, the resort is both a retreat and a lifestyle destination. With event facilities, fine dining, pools, tennis courts, and a golf course, it reflects Heliconia Park’s mission to create elevated spaces and warm service where every guest feels at home.

The Nigerian government has promised to enhance teachers’ welfare, elevate the public perception of the teaching profession, and address other key challenges affecting educators nationwide, in a renewed effort to revamp the education sector.

The move aims to boost morale, and professional support of teachers across the country as the educators joined the global community to commemorate the 2025 World Teachers’ Day.

Olatunji Alausa, the minister of education, made this known on Tuesday, September 30, during a symposium in commemoration of World Teachers’ Day billed for Sunday, October 5, in the company of Suwaiba Ahmad, the minister of state for education. Alausa applauded Nigerian teachers, describing them as the custodians of knowledge, the builders of character, and the architects of national future.

The minister stressed that teachers remain the foundation of every profession.

‘Honestly, you have the most important and the best profession in the country. Who makes a doctor, an engineer and/or a professor? It is the teacher.

‘That is why the government is working assiduously to come up with better packages for you. Light is at the end of the tunnel,’ he said.

Besides, Alausa emphasised the need for teamwork and networking in modern teaching. ‘For too long, teaching has often been practiced in isolation. But when teachers collaborate, students are the ultimate beneficiaries. ‘They receive richer, more engaging instruction and witness firsthand the power of teamwork and shared responsibility,’ he stressed.

Moreover, he reassured teachers of the government’s support, acknowledgement, and training.

‘When you want the highest quality of education, you need a high-quality teacher. When you want a high-quality teacher, you give teachers the recognition, support, training, and the cooperation they need,’ he said. The minister commended Nigerian teachers’ global impact, stressing that anywhere in the world, when they say a Nigerian student becomes a professional, they do so well. And this, he said is the output of Nigerian teachers’ work.

‘We know we can’t pay you enough, but be proud of yourselves. On behalf of the President, I commend you for your sacrifices, your diligence, and your commitment to building our nation,’ he stated.

The global theme for the 2025 edition is ‘Recasting Teaching as a Collaborative Profession.’

World Teachers’ Day was first proclaimed in 1994 by UNESCO in collaboration with the International Labour Organisation (ILO), Education International (EI), and UNICEF.

It is celebrated annually to honour teachers and highlight their vital role in shaping education and society.

The Labour Party’s presidential candidate in the 2023 election, Peter Obi, joined a high-powered delegation of lawmakers to visit the site of the demolished ASPAMDA Market at the Trade Fair Complex in Lagos, where plazas were pulled down despite traders having obtained the requisite approvals.

Obi was accompanied by Senators Enyinnaya Abaribe, Victor Umeh, Col. Austin Akobundu, and Tony Nwoye, as well as House of Representatives members Segun Sowunmi and George Adegeye. Also present were Labour Party’s Lagos State governorship candidate, Gbadebo Rhodes-Vivour, and the National Coordinator of the Obidient Movement, Tanko Yunusa. In a statement after the visit, Obi commended the affected traders for showing restraint and maintaining peace in the face of what he described as ‘painful loss and injustice.’ He further appreciated the lawmakers who pledged to investigate the demolition and ensure accountability.

The former Anambra State governor urged governments at all levels to act with compassion and fairness, especially given that many of the traders had taken loans to finance their businesses. He noted that destroying legitimate investments without due process was ‘not only unjust but also economically destructive.’

Obi stressed that a nation aspiring to progress must protect enterprise, encourage productivity, and defend the dignity of its citizens, warning that ‘incidents like this have no place in a society that seeks fairness, stability, and shared prosperity.’

President Bola Ahmed Tinubu, on October 1st broadcast, called on citizens to embrace the culture of tax compliance as the nation works toward economic recovery and inclusive growth.

Delivering his address to mark Nigeria’s 65th Independence anniversary, Tinubu said that while the government is ‘plumbing of the economy,’ citizens must play their part by paying taxes and supporting homegrown enterprise.

‘Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes,’ the president urged.

The call comes as the administration announced a rise in Nigeria’s tax-to-GDP ratio from below 10 percent to 13.5 percent in just over two years, with a new tax law expected to take effect in January 2026.

According to Tinubu, the law will not increase burdens on existing taxpayers but will expand the tax base and provide relief for low-income earners.

‘The tax law is not about increasing the burden on existing taxpayers but about expanding the base to build the Nigeria we deserve and providing tax relief to low-income earners,’ he said. The president highlighted a series of economic milestones his administration has achieved since May 2023, including N20 trillion in non-oil revenue mobilised by August 2025, a rebound in oil production to 1.68 million barrels per day, and foreign reserves climbing to $42.03 billion, the highest level since 2019.

But he cautioned that Nigeria’s economic transformation would not be sustained without a sense of civic responsibility from its citizens.

‘The accurate measure of our success will not be limited to economic statistics alone, but rather in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities,’ Tinubu said.

On the 65th anniversary of independence, Tinubu positioned tax compliance as central to the country’s long-term vision of a prosperous and self-reliant Nigeria.

‘With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,’ he concluded.

Civil society organisations, opposition party figures, and economic experts have applauded President Bola Ahmed Tinubu’s administration for the Lagos-Calabar Coastal Highway project, describing it as a landmark initiative that could transform Nigeria’s infrastructure and boost economic growth. The commendations came during a project inspection tour in Lagos, led by the Minister of Works, Senator David Umahi, where stakeholders noted the quality of execution and urged Nigerians to rise above political divides in supporting developmental projects.

Umahi disclosed that the first section of the 750-kilometre coastal highway stretching from Ahmadu Bello Way, Victoria Island, Lagos, to Eleko, Lagos would be completed by May 2026. He revealed that 35 kilometres had already been completed, leaving 12 kilometres to finish the initial segment. According to him, the first section covers 47 kilometres of the coastal highway, and work has also commenced on the second section from Eleko, Lagos, to Ode-Omi, Ogun State. He highlighted the government’s efforts in saving properties such as the Landmark Centre, clearing refuse up to a depth of 10 metres, and using concrete technology to ensure road durability. ‘Emerging economies like India have adopted concrete for enduring roads, and Nigeria must follow suit,’ he added.

Otunba Segun Showunmi, a chieftain of the Peoples Democratic Party (PDP) and convener of The Alternative, stressed the need for national consensus around development. ‘You cannot develop a nation without a long-term plan. What I have seen so far today is commendable, I must tell you. Beyond our political ideological differences, we need to, as a nation, breathe in and out to explore how to achieve consensus to develop our nation,’ he said. Showunmi pointed to global examples: ‘When you look at countries like Singapore, India, and UAE, their achievements have come through building consensus for national development. A nation at 65 must be in a hurry to link its infrastructure to model after other globally competitive economies.’ He urged Nigerians to have ‘the courage to build the kind of things that will position it as a country to turn the corner and go full throttle in investing in legacy infrastructure projects that will transform the economy.’

Olufemi Awoyemi, Chairman of Proshare Group, described the Lagos Calabar Coastal Highway as a ‘test case’ for financing large infrastructure projects. ‘This is an alternative, providing a primary route for cross-country connectivity, away from the current congestion, and a test case for big infrastructure projects and their financing,’ Awoyemi said. According to him, the project has the potential to open up trade routes and provide long-term relief to Nigeria’s congested transport systems, while stimulating investment in adjoining communities.

Leaders of over 20 civil society organisations (CSOs) were also part of the tour. Declan Ihekaire, one of the CSO representatives, welcomed the government’s decision to involve stakeholders in monitoring the project. ‘We, as CSOs, must not condemn every time. When we see where they are getting it right, we should talk so that we encourage them. Ultimately, the beneficiaries of good initiatives are the people,’ he said, adding that constant engagement between government and citizens would boost accountability and help sustain public confidence in national projects. Umahi also responded to concerns about properties and investments allegedly affected by the highway construction. He assured the public that due process would be followed. ‘We will unravel the issues around the WinHomes and allegations of about $200 million of diaspora investments in the real estate project. We will involve the EFCC and DSS to investigate the matter alongside civil society organisations,’ he stated. The Minister promised regular briefings with the media and stakeholders to provide progress reports and maintain transparency.

Beyond the Lagos Calabar Coastal Highway, Umahi outlined three other ‘legacy projects’ under Tinubu’s administration: the 477-kilometre Trans-Saharan Highway traversing Calabar, Ebonyi, Kogi, Benue, Nasarawa, and the FCT; the 422-kilometre Akwanga-Jos-Bauchi-Gombe Expressway; and the 1,068-kilometre Sokoto-Badagry Superhighway. ‘We will continue to reiterate that roads and bridges are the infrastructure that build the GDP of every nation. And it is from this that the GDP of other sectors will grow,’ Umahi said. He linked Tinubu’s vision for the coastal highway to his record as Lagos governor. ‘President Bola Ahmed Tinubu has this knowledge; he has demonstrated it when he was Governor of Lagos State and you can see that Lagos State is an economy within an economy. That is why we are doing everything possible to develop infrastructure according to his vision and mission.’

Stakeholders at the inspection agreed that Nigeria’s infrastructure challenges required collective action, not political rivalry. ‘Consensus is the key,’ Showunmi reiterated. ‘If we must compete with global economies, we cannot afford to politicise every national initiative. Nigerians must support projects that promise to unlock growth and prosperity.’

The Lagos Calabar Coastal Highway, projected at 750 kilometres, is expected to be one of the most ambitious road projects in Africa. With sections already underway and a completion date for the first stretch set for 2026, stakeholders believe the project could redefine Nigeria’s transport network and unlock significant economic opportunities. For now, the project has managed to attract rare bipartisan praise, suggesting that infrastructure may be the bridge for consensus in a divided political landscape.

Ola Olukoyede, executive chairman of the Economic and Financial Crimes Commission (EFCC), has called on public and private sector organisations in Nigeria to integrate fraud risk assessment and control mechanisms into their governance frameworks to strengthen transparency and accountability.

Olukoyede made the appeal on Tuesday, at the launch of the ISO 37003:2025 Fraud Control Management System held at the Transcorp Hilton, Abuja.

The event was organised by the Standards Organisation of Nigeria (SON) in collaboration with the British Standards Institution (BSI).

Delivering a keynote address entitled, ‘Integrating Fraud Risk Assessment and Control into Governance of Organisations,’ Olukoyede, represented by Ibrahim Shazali, director of Fraud Risk Assessment and Control of the EFCC, described fraud as a ‘pervasive and complex issue’ that causes enormous financial and reputational damage to organisations.

‘Fraud risk assessments provide an opportunity for identifying, analysing, and mitigating the effects of fraud risks in organisations,’ he said, warning that threats such as asset misappropriation, corruption, and fraudulent financial reporting could cripple institutional capacity if not properly addressed.

Olukoyede highlighted the significance of ISO 37003:2025, which he said offers a globally recognised framework for organisations to prevent, detect, and respond to fraud systematically and sustainably.

He further disclosed that in 2024, the EFCC established the Department of Fraud Risk Assessment and Control (DFRAC), mandated to carry out fraud risk assessments across ministries, departments, and agencies (MDAs).

According to him, the unit has been focusing on measures such as segregation of duties, adherence to approval limits, cybersecurity safeguards, transparency protocols, whistleblower arrangements, and targeted awareness programmes to enhance governance and compliance in the public sector.

‘Fraud prevention is a collective responsibility. Our partnership with ISO and SON is crucial in promoting international best practices in fraud prevention and control. ‘By sharing knowledge, expertise, and resources, organisations can strengthen their defences against fraud and promote a culture of integrity and transparency,’ he added, noting that EFCC’s initiatives will also be extended to sub-national levels.

In his remarks, Chukunonso Okeke, Director-General/Chief Executive of SON, represented by Talatu Ethong, Director of Corporate Affairs, described the unveiling of the standard as a ‘historic occasion’ and a major milestone in Nigeria’s role in international standardisation.

‘Today, we are not merely unveiling another international standard, but a powerful instrument to strengthen transparency, accountability, and good governance in Nigeria.

‘With ISO 37003:2025, we now embrace a proactive and structured framework for fraud prevention, detection, and response,’ Okeke said.

He also praised Nigeria’s leadership role in shaping the new standard through SON’s active participation in the ISO/Technical Committee 309 Working Group 8, paying tribute to Professor Oserheimen Aigberaodion Osunbor for positioning Nigeria as a global player in fraud control standardisation.

Abdullahi Bello, Chairman of the Code of Conduct Bureau (CCB), in a goodwill message, commended SON and BSI for driving the initiative.

He described ISO 37003:2025 as ‘a robust framework for fraud prevention, detection, and response’ and expressed optimism that it would further entrench integrity in Nigeria’s governance and business environment.

Other speakers at the event included David Adamson of the British Standards Institution, the representative of the Minister of Industry, Trade and Investment, Kevin Hyland who presented a paper on ‘Criminality and Rule of Law: Impacts on Global Trade,’ as well as representatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Central Bank of Nigeria (CBN), and the Technical Unit on Governance and Anti-Corruption Reforms (TUGAR).

The highlight of the event was the official declaration by SON of the adoption of ISO 37003:2025 Fraud Control Management System for use in Nigeria.

The naira appreciated significantly in the official foreign exchange (FX) market in September, recording a N50.75 gain against the dollar.

At the close of trading on Tuesday, the naira strengthened to N1,475.34 per dollar, a 3.3 percent gain from N1,526.09/$ at the start of the month, according to data from the Central Bank of Nigeria (CBN).

On a day-to-day basis, the local currency also appreciated slightly by 0.07 percent or N1.00, up from N1,476.34/$ on Monday at the Nigerian Foreign Exchange Market (NFEM), CBN data showed.

In the parallel market, commonly referred to as the black market, the naira gained 3 percent over the month, closing at N1,495 on Tuesday compared to N1,540 at the beginning of September.

Nigeria’s external reserves also rose, reaching $42.32 billion as of September 29, 2025, an increase of 2.17 percent from $41.42 billion at the start of the month.

Bala Moh’d Bello, a member of the Monetary Policy Committee (MPC), stated that the naira’s relative stability reflects the impact of tighter liquidity, growing investor confidence, and recent reforms in FX management. He added that speculative activity in the FX market has declined significantly, enhancing transparency and supporting market-based price discovery. According to him, this stability is expected to continue in the medium term, underpinned by rising reserves, which stood at $40.11 billion as of July 18, 2025, enough to cover about 9.5 months of imports.

Another MPC member, Aloysius Uche Ordu, said the naira’s appreciation and the narrowing gap between official and Bureau de Change (BDC) rates highlight improved FX liquidity. He credited strong remittances and foreign portfolio inflows for the boost in reserves, also noted at $40.11 billion in July.

The CBN’s latest quarterly economic report showed total FX inflows rose by 4 percent quarter-on-quarter (q/q) and 26 percent year-on-year (y/y) to $29 billion in Q1 2025. This continues a trend seen since Q4 2023, mainly driven by the CBN’s tight monetary stance.

However, FX outflows climbed at a faster pace, rising 14 percent q/q and 33 percent y/y to $13.8 billion, marking the highest quarterly outflow since Q2 2020. As a result, net FX flows stood at $15.2 billion in Q1 2025, slightly down from $15.8 billion in Q4 2024.

Analysts at FBNQuest noted that robust FX inflows in Q1 2025 were primarily fueled by autonomous sources, which surged to $20.7 billion from $16.3 billion in Q4 2024, the highest since the COVID-19 pandemic, though still below the $27.5 billion recorded in Q1 2020.

They attributed the increase to higher market interest rates that spurred carry trade flows, along with CBN’s FX reforms that improved transparency and price discovery. Although the CBN does not disclose a detailed breakdown, FMDQ data used as a proxy showed foreign portfolio investment (FPI) inflows rose 40 percent q/q and 101 percent y/y to $4.9 billion.