Category: Business Day

Businesses facing prolonged tax disputes and uncertainty over refunds want the government’s review of the new tax laws to provide clearer rules, faster resolution of disputes, and greater certainty around their tax obligations ahead of the 2027 Finance Bill.

‘After filing our tax returns, we received an assessment that we disagreed with. We submitted an objection, but the delay in resolving it left us uncertain about our outstanding tax obligations and made financial planning difficult,’ said an SME in Lagos that faced such issue.

This experience, amongst others, reflects some of the recurring concerns tax professionals say businesses encounter under Nigeria’s current tax framework, particularly when assessments are disputed or tax positions remain unresolved for extended periods.

Yvone Afolabi, a tax expert, highlighted that disputed assessments, delays in resolving objections, uncertainty around tax credits and refunds, and the administrative burden of complying with multiple tax requirements remain key concerns for taxpayers.

‘Businesses can also face cash-flow pressure when tax positions remain unresolved for extended periods’, she said.

The federal government has, however, commenced a six week review of the implementation of the new tax laws as it begins work on the 2027 Finance Bill, following concerns emerging from their implementation since January 2026.

Taiwo Oyedele, Minister of Finance and coordinating minister of the economy, announced that the government received 134 submissions from stakeholders across Nigeria’s geopolitical zones following a public call for input.

The submissions are expected to help identify areas requiring clarification, refinement or further reform.

Oyedele said the review was not intended to rewrite the 2025 reforms but to preserve their fundamental principles while responding to lessons from implementation and changing economic realities.

Tax professionals who spoke with BusinessDay said the review provides an opportunity to address areas where the new framework remains unclear or creates uncertainty for businesses.

Opeoluwa Ogundipe, a tax professional, said greater clarity was needed around what constitutes a Nigerian company and the meaning of effective place of management or control, particularly for multinational enterprises.

‘I hope the guidelines to be released will touch on what constitutes an effective phase of management or control, because the provision is a bit unclear, especial for MNEs’, he said, in relation to what the law says in section 147 of Nigeria Tax Administrative Act (NTAA)

Afolabi also urged that if she had the opportunity to recommend one specific amendment to the government ahead of the review, she will recommend ‘greater certainty around tax refunds, credits and disputed assessments, with clear statutory timelines and consequences for prolonged administrative delays’

According to her, clearer timelines would give businesses greater confidence in their tax positions, improve cash-flow planning and particularly help Small and Medium-sized Enterprises (SMEs) and businesses with significant VAT credits or genuine tax overpayments.

Abiodun Kayode-Alli, associate tax director PwC also pointed out that there’s still no official date for when the capital gains tax will take effect, and there should be more clarity for companies in the free trade zone on the criterias required for them to enjoy the tax exemptions provided

George Mbuba, a legal practitioner, has also proposed targeted amendments to the Nigeria Tax Act to address what he sees as gaps that could create uncertainty or unfair outcomes.

One of his proposals is an inflation adjustment for chargeable gains under Section 39 of the Nigeria Tax Act. His argument is that taxing gains using the original naira cost of an asset can overstate the actual economic gain where the asset has been held for several years and prices have risen substantially.

Mbuba’s proposal would allow the deductible cost of an asset to be adjusted using the change in the National Bureau of Statistics’ All-Items Consumer Price Index between the date of acquisition and disposal, subject to a safeguard preventing the adjustment from turning a genuine gain into a tax loss.

He also proposed a statutory test for determining when an individual is resident in Nigeria under Section 201 of the Nigeria Tax Act. His proposal would introduce a clearer 183-day sojourn test, supported by other factors such as domicile, habitual abode and substantial economic or personal ties, with an exception for diplomats.

The proposals come as the government reviews the implementation of the four major tax laws that took effect on January 1, 2026, with stakeholders also calling for clearer VAT thresholds, simpler withholding-tax provisions, stronger taxpayer protections, faster refunds and better coordination among revenue authorities.

Abdullahi Bello, Chairman of the Code of Conduct Bureau (CCB), has disclosed that the bureau has investigated and verified the assets of more than 20 ministers and 30 permanent secretaries as part of efforts to strengthen accountability among public officers.

Bello disclosed this in Abuja on Wednesday at an anti-corruption and asset-tracing stakeholders’ workshop organised by the Human and Environmental Development Agenda (HEDA) in collaboration with the Platform to Protect Whistleblowers in Africa.

The CCB chairman said the bureau had moved beyond merely receiving asset declaration forms from public officers to examining the declarations, investigating suspected infractions and prosecuting offenders.

‘We are not submitting forms anymore. Now, we’re examining the forms, we’re also investigating, and we’re also prosecuting,’ he said.

Bello said the bureau had focused its asset verification exercise on high-profile public officers, including ministers, permanent secretaries and officials of health agencies.

‘We have interviewed and verified the relations of more than 20 ministers, 30 permanent secretaries, 32 health agencies, and other high-profile individuals,’ he said.

He explained that the bureau invites public officers to its office for face-to-face examination of their records as part of the verification process.

According to him, the CCB verifies assets declared by public officers at the beginning of their tenure and conducts another verification at the end of their tenure to determine whether there are unexplained changes.

‘One of the key things that we do is that, once you declare your assets at the beginning of your term, we verify it; then we’ll wait for you at the end of your term, and we’ll also verify it.

‘If you see any difference between the beginning and the end, that can only be explained by your non-social income, then we investigate you and prosecute you,’ he said.

Bello, however, said the CCB does not have to wait until the end of an official’s tenure before commencing an investigation.

He said the bureau could investigate a public officer whenever it receives an allegation or intelligence suggesting possible misconduct.

‘But it doesn’t mean that we have to wait for you to finish office before we can investigate you. If there is any allegation against you, we can also investigate. Or if there is intelligence against you, we can also investigate,’ he said.

The CCB chairman described asset tracing as a central component of the bureau’s anti-corruption activities, saying it enables investigations to continue beyond the identification of suspected breaches.

‘Asset tracing is not a side issue. It’s where investigation becomes persistent,’ he said.

Bello also disclosed that the bureau had secured convictions and obtained the forfeiture of properties and funds linked to breaches of the Code of Conduct.

‘For the first time in the life of CCB, we have been able to do that,’ he said.

He said provisions of the Code of Conduct provide for sanctions against public officers found guilty of breaches, including removal from office, disqualification from holding public office and forfeiture of assets acquired through such breaches.

‘If you look at the prohibition of the Code of Conduct, there are three major punishments for Code of Conduct breaches. First, you can be banned from office for 15 years. You can be removed from office. And then finally, the assets that you acquire from a breach can be forfeited to the government,’ he said.

Arigbabu Sulaimon, Executive Secretary of HEDA, said the meeting was aimed at strengthening inter-agency collaboration, intelligence sharing and the role of civil society organisations in combating corruption.

Sulaimon said the workshop was ‘conceptualised not merely as a platform for speeches, but as a technical working session’ designed to advance three core institutional objectives.

He said the first objective was ‘bridging interagency silos and fostering civic synergy,’ stressing the importance of effective information sharing between government agencies and civil society organisations.

‘Realising full accountability requires seamless real-time intelligence exchange among our primary military and enforcement bodies,’ Sulaimon said.

He added that civil society organisations could support investigations through grassroots monitoring and open-source intelligence.

‘Importantly is forging strong operational pipelines with civil society organisations whose grassroots tracking and open-source intelligence tools provide invaluable leads for criminal investigation,’ he said.

Sulaimon also called for greater use of the Proceeds of Crime Act (POCA) and the statutory mechanisms of the Code of Conduct Bureau in tracing and recovering illicit assets.

‘Operationalising the Proceeds of Crime Act, POCA, is essential to ensure that confiscated assets are not only effectively recovered, but managed and disposed of with absolute public transparency,’ he said.

He further urged authorities to make asset declaration a more effective tool for detecting illicit enrichment and abuse of public office.

‘Furthermore, we must transform the code of conduct we use after the declaration process from a routine and restricted exercise into a dynamic, verifiable mechanism for detecting early signs of illicit enrichment and public office abuse,’ Sulaimon said.

On whistleblower protection, the HEDA executive secretary called for stronger safeguards to encourage individuals to provide information on corruption and other crimes.

‘Whistleblowers remain the single most effective catalyst for uncovering criminal crimes. Yet, without robust statutory protections and safe reporting mechanisms, courageous individuals remain vulnerable to retaliation,’ he said.

Nigeria and the United States have signed a Critical Minerals Framework Agreement aimed at deepening investment in Nigeria’s mining sector, strengthening mineral supply chains and promoting greater value addition within the country.

The agreement was signed on Wednesday at Nigeria House in New York City, on the sidelines of the 81st United Nations General Assembly, by Dele Alake, Minister of Solid Minerals Development, and Christopher Landau, US Deputy Secretary of State. Multiple reports identify the venue as Nigeria’s Mission House.

The framework provides a basis for increased cooperation between both countries across geological data and exploration, mineral development and processing, infrastructure, and technical capacity.

For Nigeria, the agreement comes as the Federal Government seeks to attract greater private investment into the solid minerals sector while reducing dependence on the export of unprocessed minerals.

Alake said Nigeria’s ambition was to move beyond being a source of raw materials and retain more value from its mineral resources through local processing, skills development, job creation and opportunities for Nigerian businesses.

The Federal Government estimates Nigeria’s mineral resources at about $700 billion, although the commercial value that can ultimately be realised will depend on exploration, infrastructure, financing, processing capacity and other investment conditions.

From agreements to projects

The significance of the framework will ultimately depend on how quickly it translates into investable projects and commercial partnerships.

Demola Gbadegesin, an emerging markets and infrastructure professional who witnessed the signing, said the agreement could create opportunities for investment in exploration and responsible mining, increased processing within Nigeria, skilled employment and stronger mineral supply chains linking the two economies.

‘For me, its promise is tangible: investment in exploration and responsible mining, more processing within Nigeria, skilled jobs, and stronger mineral supply chains linking our two economies,’ Gbadegesin said in a LinkedIn post following the signing.

He added that the impact of the agreement should be measured not only by activity within the mining industry but also by the benefits reaching communities where minerals are extracted.

‘Success should be felt in the communities where these minerals are found, as well as in the industries they supply,’ he said.

Gbadegesin, who is associated with Promethean Resources, said the private sector now has a responsibility to help translate the framework into operating projects and long-term partnerships alongside the two governments.

Focus on value addition

The agreement reflects Nigeria’s broader effort to develop a domestic mineral value chain rather than concentrate primarily on extraction and export.

According to reports on the signing, cooperation under the framework will span the mineral development chain, from geological information and exploration to processing, infrastructure and technical capacity.

For US investors, the framework could provide a platform for greater engagement with Nigeria’s mineral resources and create opportunities for business-to-business transactions.

Landau said the agreement demonstrated that Nigeria and the United States viewed each other as partners and that Washington was prepared to support Nigeria’s economic growth.

The two countries are also seeking more secure and resilient critical-mineral supply chains, an increasingly important issue for industrial and technology supply chains globally.

What happens next?

The immediate challenge will be implementation.

Nigeria will need to convert geological potential into bankable projects, while investors will require reliable geological data, clear regulation, infrastructure, security, financing and predictable processes for developing and processing mineral assets.

The government has previously highlighted efforts to digitise geological data and make information on mineral occurrences more accessible to potential investors.

For communities, the test will be whether increased mining activity translates into jobs, infrastructure, local procurement and broader economic opportunities while maintaining responsible mining practices.

As Gbadegesin put it, the question now is what meaningful progress under the framework will look like one year from now.

That shifts the focus from the signing ceremony in New York to the harder task of turning a bilateral framework into mines, processing facilities, businesses, jobs and stronger mineral supply chains in Nigeria.

A statement by Obinna Ezeobi, General Manager, Corporate Communications Division of NCDMB, on Tuesday, said the Board engaged more than 100 Chinese Original Equipment Manufacturers (OEMs) in Chengdu, China, as part of NCDMB and oil industry’s participation in the 15th China Shale Oil and Gas Summit.

The Summit with the theme: Empowering Efficient and Green Development Via Intelligent Technologies, Innovating to Lead the Shale Oil and Gas Revolution, convened from 20 to 23 September 2026 at the Chengdu Century City International Conference Centre in China.

It provided a platform for NCDMB and representatives of key groups in the oil industry to showcase Nigeria’s local content framework and investment opportunities in manufacturing, technology and broader oil and gas services.

Austin Uzoka, Director, Project Certification and Authorization Division (PCAD) and Senior Technical Adviser to the Executive Secretary, delivered a keynote address on the first day of the summit titled, Nigeria’s Local Content Journey and Opportunities for Chinese Collaboration in Oil and Gas Equipment Manufacturing.

Uzoka, who represented Felix Omatsola Ogbe, Executive Secretary of NCDMB, explained that the board was seeking to move the relationship between the Nigerian oil and gas industry and Chinese manufacturers beyond the conventional buyer-seller model towards investment, manufacturing, technology transfer and stronger integration into global supply chains.

He assured that the Nigerian Oil and Gas Content Development (NOGICD) Act guarantees that any oil and gas equipment manufacturing facility that is established in the country will be patronised by the oil and gas industry, with further opportunities across the Gulf of Guinea.

‘We are looking beyond the traditional buyer-seller relationship. What can we build together? We want Chinese companies to see Nigeria not simply as a market for their products, but as a strategic investment destination, a platform for manufacturing and technology development, and a gateway to opportunities across the wider African market,’ he said.

He highlighted the Nigerian Oil and Gas Park Scheme (NOGaPS) as a platform for industrial investment, encouraging Chinese OEMs to establish manufacturing, assembly and service operations in Nigeria, with opportunities for technology transfer, technical arrangements and integration of Nigerian businesses into their supply chains.

He also identified China’s strength in manufacturing, engineering, technology and energy infrastructure as an opportunity to support Nigeria’s industrial development.

‘China has developed tremendous capabilities in manufacturing, engineering, technology and energy infrastructure. We want to explore how those capabilities can be connected with the opportunities that exist in Nigeria, for mutual benefits’ he added.

On Nigeria’s local content journey, Uzoka explained that the agenda had evolved from increasing Nigerian participation in oil and gas projects to a broader drive for industrial capacity, manufacturing, technology ownership and global competitiveness.

‘Nigeria’s local content journey has evolved significantly since the Local Content Law was enacted in year 2010. What began primarily as an effort to increase Nigerian participation in the oil and gas industry has developed into a broader industrial development agenda focused on building capabilities, deepening manufacturing, promoting technology ownership and positioning Nigerian businesses to compete within regional and global markets,’ he observed.

The second day of the summit featured a Business-to-Business (B2B) session organised by the board, which drew participation from more than 100 Chinese equipment manufacturers and Nigerian oil and gas industry stakeholders to explore opportunities in local manufacturing, supply-chain integration, investment, technology development and market access.

Representatives of the Petroleum Technology Association of Nigeria (PETAN) led by Sylvester Ovunwese, participated alongside representatives of Project 100, including Olateju Oyelakun of Encapsulate Nigeria Limited and Namdi Akudulu of Wider Energy.

Renaissance African Energy Company was represented by Olarenwaju Lanre Olawuyi, General Manager, Nigerian Content Development, who made a presentation on behalf of the company and Oil Producing Trade Session (OPTS).

The session provided an opportunity for Nigerian companies to showcase their capabilities while Chinese manufacturers explored prospects for market entry, local production and technical cooperation.

The statement said the engagement generated significant interest among participating Chinese OEMs with several of them expressing willingness to explore business relationships with Nigerian companies and participate in Nigeria’s expanding oil and gas manufacturing ecosystem.

In her closing remarks, Lekoma Phimia, General Manager, Midstream (PCAD), expressed satisfaction with the outcome of the engagement and urged stakeholders to build on the connections established during the session to develop commercially viable and sustainable business relationships.

NCDMB’s participation also extended to the exhibition floor, where the its booth attracted visitors, industry players and prospective investors seeking information on Nigeria’s oil and gas sector, local content opportunities and avenues for establishing business operations in the country.

The Chengdu programme reinforced NCDMB’s commitment to expanding Nigeria’s international industrial connections and advancing the objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.

By connecting Nigerian businesses with global manufacturers and technology providers, NCDMB is seeking to move the local content agenda from participation to capability, capability to manufacturing, and manufacturing to technology ownership and regional competitiveness.

The Independent National Electoral Commission (INEC) has warned Nigerian editors that artificial intelligence-driven deepfakes, cloned audio, and fabricated election results could undermine public confidence in the 2027 general elections, urging newsrooms to make rigorous digital verification a frontline defence of democracy.

Joash Amupitan, chairman of INEC, gave the warning on Thursday in Enugu at the 22nd All Nigeria Editors Conference. He cautioned that generative artificial intelligence had moved election misinformation beyond conventional propaganda into what he described as a synthetically manufactured reality.

Represented by Chukwuemeka Chukwu, Resident Electoral Commissioner for Enugu State, Amupitan said malicious actors could now produce convincing videos of electoral officials, clone their voices, and circulate fabricated result sheets within minutes of the close of polls.

Truth greeted with skepticism

Amupitan warned that the danger went beyond individual falsehoods, noting that widespread exposure to convincing fake content could cause citizens to doubt even genuine information released by constitutional authorities.

‘When deepfakes render lies believable, real truth is greeted with skepticism. Cynicism replaces civic engagement,’ Amupitan said.

The INEC chairman urged editors to establish specialised fact-checking desks, deploy forensic image-analysis tools, and ensure that election results are verified through official INEC channels before publication.

He also issued a strong warning against the publication or amplification of privately collated election results, particularly figures circulated by political actors on social media.

Safeguards and journalist welfare

Amupitan disclosed that INEC was responding to the changing information environment by establishing a dedicated Artificial Intelligence Division within its Information and Communications Technology Department.

He also linked the economic welfare of journalists to the credibility of Nigeria’s democratic process, warning media owners that poorly remunerated journalists could be more exposed to political inducement.

Eze Anaba, president of the Nigerian Guild of Editors, said the media had a responsibility to protect democratic institutions by holding power accountable and creating space for diverse voices. Meanwhile, Igwe Nnaemeka Alfred Achebe, the Obi of Onitsha, called for the creation of a joint rapid response desk involving newsrooms to counter election misinformation ahead of 2027.

The battle to rid Nigeria of drug trafficking got a boost on Thursday, as the National Drug Law Enforcement Agency (NDLEA) struck another decisive blow against transnational organised crime, busting a sophisticated meth cartel lab on Enugu

The anti- narcotics agency dismantled the lab operated by a Nigerian-Mexican drug cartel operating the clandestine methamphetamine laboratory in Eziama community in Obeagu, Awgu Local Government Area of Enugu State.

The Agency’s Spokesman, Femi Babafemi, revealed that two kingpins, including a 45-year-old Chukwu Obumneme Christopher, alias Brown, and 60-year-old Chukwu Georginus Monday, alias George, were arrested in connection with the operation of the meth lab.

BusinessDay gathered that the duo, who were operating in partnership with a notorious Mexican drug cartel member, Rodriguez Villanueva, based in Mexico City, Mexico, were arrested after several months of intelligence and surveillance on the syndicate.

‘As a result, they were arraigned before Hon. Justice Mabel Taiye Segun-Bello of the Federal High Court, Enugu Judicial Division, on a five-count charge bordering on conspiracy, the organisation, management and financing of a Drug Trafficking Organization’

They are also facing charges of ‘unlawful possession of precursor chemicals used in methamphetamine production, contrary to the NDLEA Act.

‘After their plea, Justice Segun-Bello has now scheduled their trial for 21st October 2026, following an application by the Agency for an accelerated hearing.’

The NDLEA said it has also spread its dragnet for the arrests of Uchenna, alias Uche; Celestine Ikemefuna Iwuchukwu; and Rodriguez Villanueva, who is a notorious member of a Mexican drug cartel, who are currently on the run

Investigations by a Special Operations Unit (SOU) of NDLEA revealed a sophisticated, transnational operation by the Nigerian-Mexican cartel.

Surveillance activities by NDLEA between 1st and 4th December, 2025, tracked Brown’s movements between Lagos, Enugu and Anambra States, ultimately leading operatives to a compound in Obeagu where a clandestine laboratory capable of producing methamphetamine in commercial quantities was uncovered.

The lab, fitted with improvised reactors and distillation apparatus, mirrored similar facilities recently dismantled in Ogun, Oyo and Ebonyi.

‘ A search of the premises led to the recovery of vast quantities of precursor chemicals, including 690 litres of methylamine, 1,000 litres of isopropyl alcohol, 300 litres of hydrochloric acid, and 290 litres each of toluene and acetone.

Others items recovered include 400 litres of liquid sodium hydroxide, 125 kilograms of N-phenylacetamide, 414 kilograms of lead acetate, and 769.6 kilograms of tartaric acid, among other controlled substances

The NDLEA said the haul is consistent with a high-potency, P2P-based methamphetamine manufacturing operation.

‘A related search of George’s family residence yielded eight large fuel tanks, four commercial gas burners, four dehydrators, and 11 kilograms of ephedrine, further underscoring the scale of the cartel’s operations’.

Reacting to the development, Buba Marwa, Chairman/Chief Executive of the NDLEA, reaffirmed the Agency’s unwavering resolve to track down every fleeing suspect connected to the cartel and ensure that they all face the full weight of the law.

He commended all NDLEA officers involved in the operation for their professionalism and doggedness in cracking yet another international drug syndicate.

He described the Enugu lab bust as further proof that Nigeria will not be allowed to become a haven for transnational drug cartels, warning that the Agency’s intelligence-driven operations and international partnerships would continue to close every loophole exploited by drug barons, whether local or foreign.

George Akume, Secretary to the Government of the Federation SGF, scored the federal government in the areas of human capital development, agriculture and social infrastructure, assuring that the security of lives and properties will continue to occupy a priority position.

He stated that the country has recorded significant progress since independence, including economic diversification, expansion of education and development of human capital; challenges such as poverty, insecurity, infrastructure deficits, and healthcare and education gaps remain areas requiring sustained government attention.

Akume also assured that the government will consolidate the economic reforms of the President Bola Tinubu administration and ensure that their gains translate into greater opportunities and improved living conditions for ordinary Nigerians.

Akume, who is Chairman of the Inter-Ministerial Committee for Nigeria’s Independence Day Anniversary, stated this while delivering his keynote address at the World Press Conference flagging off activities marking Nigeria’s 66th Independence Anniversary with the theme, ‘From Reforms to Stability: Consolidating Nigeria’s Renewed Hope for Shared Prosperity,’ on Thursday, in Abuja.

Akume said the anniversary theme, ‘From Reforms to Stability: Consolidating Nigeria’s Renewed Hope for Shared Prosperity,’ underscores the need to move beyond implementing reforms to ensuring that their benefits are translated into tangible improvements in the lives of Nigerians.

Nigeria, which gained Independence from the British colonial masters on 1st October, 1960, has lined up activities to mark the country’s 66th anniversary, beginning with the world press conference.

The SGF said the administration launched structural reforms under the Renewed Hope Agenda in 2023, including the removal of the decades-long fuel subsidy regime, the unification of foreign exchange windows and measures aimed at strengthening fiscal and monetary management.

He said the reforms were designed to restore fiscal balance, strengthen the economy and lay the foundation for increased investment and sustainable growth.

‘The task before us today, as leaders and citizens, is consolidation. We must ensure that the gains from reform translate into better opportunities for ordinary Nigerians,’ Akume said.

He also revealed that the government was mobilising additional revenue, improving public finances, accelerating non-oil revenue collection and attracting new investment in order to create the fiscal space required to support development.

He identified Nigeria’s infrastructural development as a major priority in the government’s consolidation phase, noting investments in roads, railways, airports, seaports, electricity generation and transmission, as well as digital connectivity. He said the investments were aimed at reducing the cost of doing business, connecting farmers to markets, supporting industrial activities and creating an enabling environment for private-sector investment.

In the area of agricultural development, Akume said the government is also supporting farmers through improved seeds, fertilisers, irrigation, storage and processing facilities, while initiatives such as the National Agricultural Development Fund were designed to strengthen agricultural production and agro-industrial development.

On human capital development, Akume said the government was expanding access to education and improving the quality of schools and teachers.

He also highlighted the Nigerian Education Loan Fund, established through the Nigerian Education Loan Fund Act, as an initiative designed to enable more young Nigerians to access tertiary education.

Akume reaffirmed the Federal Government’s commitment to protecting lives and property, saying the armed forces and security agencies were intensifying efforts against terrorism, banditry, kidnapping, oil theft and other security threats.

He stressed that these priorities are encapsulated in the Renewed Hope National Development Plan 2026-2030, which places productivity, diversification, human capital development and resilience at the centre of the country’s development strategy.

He therefore called on Nigerians to renew their commitment to the Nigerian project by strengthening institutions, developing infrastructure that supports businesses and agriculture, and creating an economy in which citizens have greater opportunities to prosper.

‘From reforms, we have built stability. From stability, let us now deepen growth and opportunity. And from growth, let us extend shared prosperity to every corner of Nigeria,’ he said.

In his welcome address at the event, Mohamed Idris, the Chairman, Media and Publicity Sub-Committee for Nigeria at the 66th Independence Day Anniversary and Minister of Information and National Orientation, said the occasion provides an opportunity for Nigerians to reflect on the sacrifices and resilience that have sustained the country since independence, while renewing their commitment to building a more prosperous, secure and united nation.

He said Nigeria is moving from reform and stabilisation towards growth, production and shared prosperity as GDP growth is strengthening, external position has improved, domestic refining capacity has expanded, and investment and productive activity are gaining momentum. He added that the next phase is to translate these gains into tangible improvements in the lives of Nigerians: more jobs, higher incomes, greater access to education and credit, lower costs and wider economic opportunities.

He averred that the Renewed Hope Agenda is pursuing these objectives through investments in infrastructure, agriculture, education, consumer credit, digital skills, energy and enterprise. Student loans are widening access to education; consumer credit is expanding economic opportunity; major highways are connecting communities and markets; and reforms in agriculture, livestock, solid minerals, oil and gas are increasingly focused on production and local value addition.

The activities continue with the Juma’at Service on Friday, September 25; the Church Service on Sunday, September 27, 2026; the Independence Day Public Lecture on Wednesday, September 30, 2026; and the nationwide broadcast by President Bola Ahmed Tinubu will take place on Thursday, October 1, 2026.

A Port-Harcourt-based scholar, Dormene Mbea, has applauded the President of KAGOTE and Chief Executive Officer of Giolee Global Resources Limited, Lesi Maol, for what he described as a visionary intervention in the education sector, saying the deployment of 1,000 intervention teachers to public schools across Ogoniland could help steer thousands of children away from societal menace and position them for a productive future.

Mbea made the commendation while evaluating the impact of the KAGOTE education intervention in Port Harcourt.

He said the decision by KAGOTE, under the leadership of Lesi Maol and with the support of the four Ogoni Local Government Area chairmen, to declare a state of emergency in the education sector and provide intervention teachers was not merely an employment initiative but a strategic investment in the future of Ogoniland.

According to him, keeping children in school and ensuring that they have qualified teachers at their formative stages could significantly reduce their exposure to idleness and social vices while equipping them with the knowledge, discipline and skills required to contribute meaningfully to society.

Mbea said the long-term impact of educating children from a tender age could be enormous, stressing that today’s pupils would become tomorrow’s professionals, entrepreneurs, administrators, academics, community leaders and policymakers.

He commended Maol for recognising that sustainable development in Ogoniland must begin with investment in human capital.

‘The children being taught today are the future of Ogoniland. If we give them quality education, discipline and the right environment to learn, we are preparing a generation that can solve problems rather than create them,’ Mbea said.

He noted that the presence of 1,000 intervention teachers in public schools across Ogoniland could also help address teacher shortages and strengthen learning activities in communities where inadequate manpower has affected effective teaching.

Mbea therefore, called on members of the Rivers State House of Assembly representing Ogoni constituencies, political leaders, council chairmen, councillors, political appointees and other stakeholders to support the initiative and ensure that it produces lasting results.

He also appealed to parents and guardians across Ogoniland to take advantage of the intervention by sending all school-age children to school.

According to him, there should be no excuse for keeping children away from school when additional teachers have been provided to strengthen teaching in public schools.

He urged KAGOTE to engage the four Ogoni local government councils on the possibility of introducing appropriate bye-laws that would encourage compulsory school attendance for children of school age, with lawful penalties for parents or guardians who deliberately refuse to send their children or wards to school.

Mbea said such measures should be designed and implemented within the applicable legal framework and with appropriate safeguards, particularly for vulnerable families.

He further advocated stronger monitoring of attendance by both teachers and pupils, calling on the Rivers State Government to introduce a digital electronic system for signing teachers in and out of schools.

He said a reliable digital attendance system could help improve accountability, establish accurate records of staff presence and assist government in identifying cases of absenteeism and discrepancies in personnel records.

Mbea maintained that filling classrooms with teachers must be matched by ensuring that teachers are present to teach and that pupils are present to learn.

He said the KAGOTE intervention should therefore be viewed as a foundation upon which government and other stakeholders could build a more accountable and effective education system in Ogoniland.

The scholar also commended the four Ogoni local government chairmen for supporting the intervention, saying collaboration between KAGOTE, the local governments, the state government, traditional institutions, parents and communities would be critical to sustaining the programme.

He described Maol’s intervention as a demonstration of what community-focused leadership can achieve when education is treated as a priority.

Mbea urged other individuals, organisations and institutions with the capacity to contribute to the development of Ogoniland to emulate the initiative by investing in education, skills development and other programmes that directly improve the lives of young people.

He stressed that the greatest measure of the intervention would ultimately be seen in the lives of the children who pass through the classrooms, urging all stakeholders to work together to ensure that the opportunity created by the 1,000 teachers translates into improved learning outcomes and better prospects for Ogoni children.

The Central Bank of The Gambia has ordered commercial banks to phase out non-Gambian employees who are not covered by approved expatriate quotas by the end of 2026, according to multiple media reports.

The directive, contained in a letter dated September 19 and signed by Ousman Mendy, the bank’s second deputy governor, was addressed to managing directors of commercial banks operating in the country, including Nigerian-owned lenders such as First Bank, Zenith Bank, Access Bank, Ecobank and Guaranty Trust Bank.

The central bank directed the affected banks to replace the workers with qualified Gambians, while putting succession plans in place and transferring skills to local employees. Banks were also told to ensure that the transition does not disrupt their operations.

The directive follows an August meeting between the Central Bank of The Gambia and managing directors of commercial banks, where the employment of non-Gambian workers in the banking sector was discussed.

According to the letter, a recent industry study conducted by the central bank found that banks employ a ‘relatively high number’ of non-Gambians in addition to workers recognised as expatriate staff.

‘This is in violation of the provisions of the Labour Act 2023 and also not in line with guideline 9 on expatriate staff,’ the letter stated.

The regulator said the relevant provisions set out the circumstances under which expatriates may be employed and the quotas allowed for foreign workers.

The Central Bank therefore instructed banks to comply fully with the country’s labour laws and its guidelines on expatriate employment.

‘You are hereby directed to ensure full compliance with the law and strict compliance with CBG’s guidelines,’ the letter stated.

The order places particular attention on the banking sector, where several foreign-owned and regional banks operate across The Gambia. Nigerian lenders have expanded their presence in the country as part of a wider regional banking footprint, making the directive relevant to banks headquartered outside The Gambia as well as local institutions.

The central bank did not announce an immediate blanket ban on foreign employees. Rather, the directive targets non-citizens who are not covered by approved expatriate quotas and requires banks to localise the affected positions.

The banks have until the end of the year to implement the directive while maintaining normal operations and ensuring that local employees receive the skills and responsibilities needed to take over the affected roles.

The 58th International Conference and Exhibition of the Chartered Institute of Personnel Management of Nigeria (CIPM) has opened in Abuja, bringing together over 4,000 physical delegates and more than 1,000 virtual delegates for Africa’s largest Human Resource and people management event.

Held under the theme, ‘Repositioning for Value and Impact,’ the conference has convened business leaders, policymakers, HR practitioners, academics and development experts from across Nigeria and beyond to examine how organisations can strengthen performance, improve productivity and create measurable value in a rapidly evolving world of work.

Thousands of delegates in attendance at the Opening Ceremony of the 58th International Conference and Exhibition (CIPM ICE) of CIPM, Africa’s largest HR event, held in Abuja.

Delivering the keynote address, Muhammadu Maigari Dingyadi, the Minister of Labour and Employment, described the gathering as an important platform for addressing contemporary workplace challenges and advancing workforce development.

He commended CIPM for creating a forum that brings together practitioners, policymakers, employers, academics and other stakeholders to exchange ideas, share experiences and develop practical responses to issues shaping the world of work.

The Minister further acknowledged the Institute’s longstanding contribution to promoting ethical leadership, professional excellence and effective people management, while applauding its leadership for sustaining the conference and championing high standards of professionalism in HR practice in Nigeria.

Bode Agoro, the Head of Service of Lagos State, also commended CIPM for its role in professionalising Human Resource Management in Lagos State and across Nigeria.

Similarly, Tunji Olaopa, the Chairman of the Federal Civil Service Commission, NPoM, described CIPM as a professional body that has consistently worked to raise the standards of people management while building the capacity of people managers nationwide.

He also reaffirmed the Commission’s commitment to strengthening its partnership with the Institute as a reform partner in the Nigerian Civil Service.

Representing the Chief of Army Staff, Suleiman noted that the conference theme was highly relevant to the nation’s development aspirations, emphasising that people remain the most valuable asset of any institution. He expressed confidence that the conference would generate strategic solutions to workforce challenges and support continuous learning and career development across sectors.

In his welcome address, Mallam Ahmed Ladan Gobir, the President and Chairman of the Governing Council of CIPM, challenged HR professionals to move beyond measuring activity and focus instead on creating value and delivering impact.

He argued that organisations must increasingly assess success not by the volume of work performed, but by the difference that work makes to business performance, productivity and growth.

Mallam Gobir noted that this year’s conference builds on conversations from previous editions focused on resilience and the future of work, adding that the 2026 conference represents a call to translate ideas into outcomes and ensure that people management contributes meaningfully to organisational and national development.

Speaking on behalf of the President of the National Industrial Court of Nigeria,

Justice Rakiya Bosede Haastrup, also highlighted the importance of developing people and promoting sound workplace practices, noting that such efforts are essential to national development.

She commended CIPM for convening a conference focused on strengthening the Nigerian workforce.

Representing Prince Dapo Abiodun, the Ogun State Governor, Olanrewaju Iskeel Saka, the Head of Service of Ogun State, praised CIPM’s sustained commitment to workforce development and human capital advancement, describing the conference as another important contribution to building stronger institutions and a more productive nation.

The Head of the Civil Service of the Federation, represented by Ishiyaku Mohammed, the Permanent Secretary, Service Policies and Strategies Office, also underscored the importance of aligning people strategies with clearly defined outcomes and measurable value, while commending CIPM’s collaboration with the Federal Government in promoting professionalism within the public service.

A recurring theme across the various addresses was the recognition that human capital remains the most critical resource for achieving organisational success and national transformation.

Speakers emphasized the need for institutions to align people strategies with clearly defined outcomes and to create environments where employees can grow, innovate and contribute meaningfully to economic growth.

As delegates commence discussions and knowledge-sharing sessions, the conference reinforces CIPM’s position as a leading voice in the advancement of people management practice in Africa.

With its strong focus on outcomes, innovation and strategic leadership, the 58th International Conference and Exhibition sets the stage for transformative conversations that will shape the future of work, strengthen organisational performance and contribute to Nigeria’s broader development aspirations.