Category: Nigerian Tribune

Economic and financial experts have stated that part of the 2026 budget may be rolled over into 2027, noting that the Federal Government is still struggling with the implementation of previous budget cycles.

A total of ?68.32 trillion 2026 budget was signed into law in April 2026. Analysts said the budget is currently in its active execution phase, stating that, although comprehensive, audited federal implementation performance figures for the mid-year remain largely unpublished by the Budget Office of the Federation.

According to a source who spoke on condition of anonymity, ‘We are still implementing the 2024 budget in 2026, implementing 2025 and 2026 all together.’

He said the government was trying to conclude implementation of the previous budgets to enable focused implementation of a single budget cycle.

Also speaking to Tribune Online, an economic expert, Mr Eric Igulla, noted that if the Federal Government did not increase the release of funds to the system to adequately settle previous budget cycles, the 2026 budget might be rolled over into 2027.

He explained that the non-release of funds for the implementation of previous budgets, particularly for capital projects, had caused financial problems for the government.

‘Financial discipline is required to keep to the budget and do as you had proposed. Now, a lot of important projects that would have benefited ordinary Nigerians are hanging in the air,’ he stated.

Also speaking to Tribune, another economic expert, Eze Onyekpere, explained that under the current expenditure, ‘you have salaries and emoluments of public officers. So the only people you can touch are those people who are working with the government, which is quite very few.

‘Another part of recurrent expenditure is debt, which is taking 53% of all our revenue. So those ones are not impacting on anybody. Now, the part of the budget that touches the lives of the people is the capital budget, particularly developmental capital,’ he stated.

It was reported that only 30% of the 2025 capital budget was funded and executed during its initial cycle due to revenue shortfalls. Seventy per cent of the unexecuted 2025 capital projects were deferred and rolled over into the 2026 capital budget framework.

Also lamenting the non-implementation of the country’s budget, another economic expert and the co-founder of BudgIT, Oluseun Onigbinde, said the current administration had declared more revenue with low capital releases.

It was also reported that weeks ago, during the Senate’s engagement with the Ministry of Finance, Senator Mohammed Tahir Monguno raised the alarm. He questioned why capital projects and critical government programmes appeared to be lagging if revenue collections were exceeding projections.

The senator also expressed concern over the reported absence of capital releases to security agencies and sought clarification on the retention of about ?1.7 trillion from recent Federation Account allocations.

‘We have exceeded the target of our revenue collection. It is inherently contradictory for government to woefully fail to implement the budget. Where are these revenues going to? If the budget, for example, the 2025 budget, has not been implemented, and we have to roll over 70% of 2025 to 2026, and that with the promise that 30% will be implemented before March.

‘Up to March, even 30% was not implemented. The National Assembly had to extend the lifespan of the budget up to September to allow government to implement just the 30% component of the 2025 budget,’ he lamented.

Tribune Online contacted the Budget Office of the Federation to ascertain the level of 2026 budget implementation. However, there was no response at the time of filing this report.

Analysts are of the opinion that, except for intensified releases of funds with prudent spending in the coming days, part of the 2026 budget may be rolled over into 2027.

Academic Staff Union of Universities (ASUU), Taraba State University, Jalingo Branch, has accepted a two weeks extension request by governor Agbu Kefas to enable government meet the Union demands.

ASUU- TSU is demanding full implementation of the FGN/ASUU 2025 Agreement, and other outstanding provisions.

Nigerian Tribune reports that ASUU- TSU branch, had earlier on the 13th August 2026, issued a 14 day ultimatum, calling on governor Agbu Kefas, and the Taraba state government to fully implement the agreement or face industrial action at the University.

However, the ultimatum elapsed on 26th August, 2026, without government concrete and verifiable action, while industrial disharmony was not considered by the Union due to the institution’s combined convocation that was scheduled within the period.

Meanwhile, the union after the expiration of the first ultimatum, also issued what it described as final 14-day ultimatum from 14th September, 2026, to 28th September, 2026.

However, Dr. Dr. Joshua Garba Mbave, the ASUU chairman informed on Tuesday that the Union has received an official communication from the Taraba state government, requesting additional two weeks to enable government meet the union demands.

‘Yes, we have received an official communication from the state government requesting additional two weeks to enable government meet our demands. We have communicated same to ASUU national and they have asked us to accept the request.

‘After receiving the latter, we reconvene an emergency meeting and members unanimously agreed to accept the state government request.

‘Members also warned that industrial action would be taken if their demands are not met after the expiration of the newly extended 14 day,’ Dr. Mbave stated.

The ASUU chairman while appreciating efforts of the Taraba State Government towards addressing issues affecting the University, he called on the state government to be committed and sincere to the agreement in order to maintain an uninterrupted academic calendar at the University.

Investor confidence in the Dangote Petroleum Refinery IPO continues to strengthen following projections that Dangote Group is on course to generate approximately $36 billion in revenue in 2026, driven by robust performance across its diversified industrial businesses and ambitious expansion plans across Africa.

The positive market sentiment has been fueled by disclosures from Dangote Group’s Chief Strategy Officer, Aliyu Suleiman, who revealed that the Group generated approximately $17 billion in revenue during the first half of 2026 and is on track to achieve a record $36 billion in revenue by year-end, representing a 100 percent increase over the $18 billion recorded in 2025.

The outlook has attracted strong interest from investors who see the Dangote Petroleum Refinery as a unique opportunity to participate in one of Africa’s most transformative industrial enterprises.

Speaking after subscribing to the refinery’s IPO, a Lagos-based institutional investor, Mr Tunde Adebayo, described the investment as a long-term wealth creation opportunity.

‘The projected growth trajectory of the Dangote Group and the refinery’s strategic position in the global energy market gave us strong confidence to invest. The forecast revenue of $36 billion demonstrates the scale of the business and the value creation potential available to shareholders.’

Similarly, Mrs Amina Bello, a private investor from Abuja, said the refinery represents a rare opportunity to invest in a world-class African enterprise.

‘What attracted me is the refinery’s ability to serve both the Nigerian market and export destinations across Africa and beyond. Few businesses on the continent have this level of infrastructure, market reach, and growth prospects. I believe this investment will generate substantial long-term returns.’

Meanwhile, Dangote Industries Limited (DIL) has secured a four-notch credit rating upgrade from GCR Ratings to the highest level on the agency’s Nigerian national scale, following improved cash flows, debt reduction and stronger liquidity, as the conglomerate prepares for another phase of expansion.

GCR, an affiliate of Moody’s, upgraded the Group’s long-term issuer rating to AAA(NG) from A+(NG), while its short-term rating rose to A1+(NG) from A1(NG), with a Stable Outlook.

The upgrade, announced recently, also covers the long-term issue ratings of Dangote Industries Funding Plc’s Series 1 Tranche A and Tranche B bonds, as well as its Series 2 bond, which were raised to AAA(NG) from A+(NG).

The ratings improvement marks a reversal of the agency’s October 2025 downgrade, when it cited rising short-term debt following the ramp-up of the Dangote Petroleum Refinery and adverse foreign exchange movements affecting the Group’s debt portfolio, more than 80 percent of which was denominated in foreign currencies.

GCR attributed the latest upgrade to stronger cash flows following the refinery’s successful ramp-up to full capacity, improved earnings from other businesses, debt repayment and refinancing on more favourable terms.

The agency also highlighted improvements in leverage, liquidity, risk management, treasury operations and financial reporting.

The improved credit profile comes as the Group plans to expand its refining capacity in Nigeria and establish a new refinery in Kenya, a programme expected to increase borrowing requirements over the coming years.

Meanwhile, Dangote Industries Limited (DIL) has secured a four-notch credit rating upgrade from GCR Ratings to the highest level on the agency’s Nigerian national scale, following improved cash flows, debt reduction and stronger liquidity, as the conglomerate prepares for another phase of expansion.

GCR, an affiliate of Moody’s, upgraded the Group’s long-term issuer rating to AAA(NG) from A+(NG), while its short-term rating rose to A1+(NG) from A1(NG), with a Stable Outlook.

The upgrade, announced recently, also covers the long-term issue ratings of Dangote Industries Funding Plc’s Series 1 Tranche A and Tranche B bonds, as well as its Series 2 bond, which were raised to AAA(NG) from A+(NG).

The ratings improvement marks a reversal of the agency’s October 2025 downgrade, when it cited rising short-term debt following the ramp-up of the Dangote Petroleum Refinery and adverse foreign exchange movements affecting the Group’s debt portfolio, more than 80 percent of which was denominated in foreign currencies.

GCR attributed the latest upgrade to stronger cash flows following the refinery’s successful ramp-up to full capacity, improved earnings from other businesses, debt repayment and refinancing on more favourable terms.

The agency also highlighted improvements in leverage, liquidity, risk management, treasury operations and financial reporting.

The improved credit profile comes as the Group plans to expand its refining capacity in Nigeria and establish a new refinery in Kenya, a programme expected to increase borrowing requirements over the coming years.

The Chairman of Optiva Capital Partners, Franklin Nechi, has called on African entrepreneurs, investors and families to move beyond traditional wealth accumulation and embrace global access as a strategic tool for business growth, family security and intergenerational legacy.

Nechi made the call at Optiva Capital Partners’ Quarter Three/Four Media Parley with select Business Editors, themed ‘From Access to Legacy: Building the African Family’s Global Future.’

The engagement brought together the key themes of Optiva’s 2026 thought-leadership programme – from ‘Global Mobility as the New Wealth’ in Q1 to ‘Driving Wealth, Access and Social Impact Across Africa’ in Q2, under a broader framework of Access ? Impact ? Connection ? Legacy.

According to Nechi, the concept of global mobility as wealth has moved from theory to reality.

‘It has not changed; it has deepened. In Q1 we said it as a thesis. Today in Q3/4, we say it as a reality. Wealth without access is stranded wealth,’ he said.

He said substantial assets could still leave individuals constrained when they could not execute international business transactions, respond to medical emergencies, access global education or participate fully in international markets.

Nechi described the emerging African wealth philosophy as a shift from accumulation to positioning. ‘Access for its own sake is vanity. Access must be converted into three things: opportunity for your business, options for your family, and impact for your community.’

He said African entrepreneurs were increasingly operating businesses that crossed multiple jurisdictions, making international mobility an important enabler of commercial relationships, investment and market expansion.

‘Mobility is the operating system. You can have your headquarters in Victoria Island, but your clients are in Houston, your investors are in London, and your tech team is in Nairobi.’

Addressing concerns that global mobility could encourage capital flight, the Optiva Chairman argued that international access could instead facilitate greater capital circulation.

‘Global mobility does not mean capital flight; it means capital circulation. Our clients are not moving money out to abandon Africa. They are creating global access to bring money back in, through trade, through investment, through partnerships.’

Nechi also stressed that the global mobility landscape is becoming more compliance-driven, with governments placing greater emphasis on transparency, source of funds and due diligence.

He advised prospective investors to work with credible professional advisers and exercise caution around programmes or intermediaries promising unusually fast or inexpensive outcomes.

‘In a tightening world, who files your application is as important as what you file. Credibility is the new currency.’

He said Optiva’s approach was therefore focused on strategic advisory rather than simply selling residency or citizenship programmes.

‘We do not sell passports. We build legacy strategies. We are advisors first, service providers second.’

Looking ahead to 2027, Nechi said the ultimate objective of global mobility should be to create lasting opportunities for future generations.

‘Do not just build wealth. Build access. Do not just build access. Build impact. And do not just build for today. Build a legacy that will make your children proud to be African and ready for the world.’

He said the philosophy also captures the message behind Optiva’s forthcoming Christmas edition feature titled ‘Home for Christmas. Ready for the World.’ ‘You can be globally connected without being disconnected from home,’ Nechi said.

The Q3/Q4 media parley marks the culmination of Optiva Capital Partners’ 2026 thought-leadership series, reinforcing its positioning around global access, responsible investment, African economic participation and intergenerational legacy.

Four suspected members of a kidnapping gang have been sentenced to death by hanging by an Edo State High Court sitting in Benin City, in a landmark judgment that has placed the state’s specialised criminal justice system under national spotlight.

The verdict, delivered by Justice Aigbona Terry Momodu of the Edo State Special Criminal Court, followed the trial of the four defendants over the broad-daylight abduction of a woman at the Vegetable Market along Airport Road, Benin, on June 14, 2026.

The convicts, Marvellous Isaac, 32; Wisdom Michael, 36; Rufus Emete Michael, 30; and Gift Raphael, 27, were prosecuted on an 11-count charge arising from allegations of kidnapping and other related offences.

However, hours after the judgment, Senior Advocate of Nigeria (SAN) and Notary Public, Olayiwola Afolabi, cautioned Governor Monday Okpebholo against taking any step towards executing the convicts until the expiration of the period allowed by law for them to exercise their right of appeal.

Afolabi said the Governor could not lawfully order the execution of the convicts immediately, stressing that they should first be allowed to pursue whatever appellate remedies are available to them.

‘The Governor cannot order execution of the convicts. It is only when they fail to file an appeal within the required 90 days,’ Afolabi said, adding that he expected the Attorney-General and Commissioner for Justice, Prof. Roland Otaru, to advise the Governor appropriately.

The development has therefore shifted the significance of the judgment beyond the punishment handed down to the four convicts, raising broader questions about the balance between speedy criminal justice, deterrence of violent crime and the constitutional safeguards available to persons convicted by the courts.

The prosecution, led by Otaru, called seven witnesses during the trial, while the defence did not call any witnesses.

The court also admitted several exhibits, including alleged confessional statements, a Lexus RX 350 SUV, a pump-action firearm, ammunition, a mobile phone and other materials tendered by the prosecution.

The prosecution’s case was linked to the June 14 abduction, when armed men allegedly attacked a vehicle at the busy Vegetable Market and abducted the woman in the presence of her husband and children. The incident generated public concern and triggered a police investigation.

According to evidence earlier presented before the court, investigations allegedly connected the Lexus SUV to other kidnapping incidents, while the arrest of Isaac on June 18 reportedly led to the recovery of the vehicle and other exhibits. The prosecution subsequently linked the other defendants to the alleged criminal enterprise.

In his judgment, Justice Momodu found the defendants guilty on various counts, although the sentences differed according to the counts on which each was convicted.

Isaac was sentenced to seven years on one count, 10 years on another, and life imprisonment on another, in addition to the death penalty on several kidnapping counts.

Wisdom Michael was discharged and acquitted on counts 10 and 11, but convicted on other counts. Rufus Michael received seven years on count one and the death sentence on applicable kidnapping counts, while he was discharged and acquitted on several other counts.

The only female defendant, Gift Raphael, was discharged and acquitted on several counts, but received seven years’ imprisonment on count one and death sentences on specified kidnapping counts.

The judgment followed months of proceedings at the specialised court established to handle kidnapping, cultism and other violent-crime cases, with the prosecution earlier closing its case after calling seven witnesses.

The case had attracted particular attention because of the alleged brazen nature of the June 14 abduction and the decision to prosecute it before a specialised criminal court.

The court’s determination is consequently being viewed against the wider national challenge of ensuring that kidnapping cases do not languish for years before judgment is delivered.

Afolabi’s intervention has, however, brought the appellate process to the centre of the debate, underscoring that a conviction and sentence at the trial court do not necessarily mark the end of the judicial process.

Meanwhile, Barrister Jude Okonkwo commended Justice Momodu for what he described as a sound judgment and for the effort invested in the trial.

The case is expected to remain a major reference point in the assessment of Edo’s specialised approach to the prosecution of kidnapping cases, particularly as the state seeks to combine swift adjudication with adherence to due process and the rights of convicted persons.

The Federal Government has commenced the second phase of the review of agricultural laws as part of efforts to replace obsolete provisions with a modern legal framework capable of driving food sovereignty, sustainable agriculture and agribusiness-led economic growth.

Director, Legal Services, Federal Ministry of Agriculture and Food Security, Hafsat Dupe Belgore, represented by the Assistant Legal Adviser, Manbyen Mamvong, disclosed this in Abuja at the opening of the Second Phase of the Stakeholders’ Technical Retreat on the Review of Nigeria’s Agricultural Laws.

Belgore said the first phase involved a comprehensive diagnostic mapping of existing agricultural legislation and was conducted through extensive stakeholder consultations.

She stated that the exercise identified obsolete provisions, overlapping mandates, regulatory gaps and areas where existing laws no longer reflected current realities, including climate change, mechanisation, agricultural technology, private-sector investment and the transformation of food systems.

She described the second phase as more critical, as it would move the process from diagnosis to concrete legal reform.

Belgore explained that the phase had three major objectives: to validate findings and draft reform proposals from the first phase; obtain sector-specific contributions to strengthen the reforms; and align the proposed legal framework with the Renewed Hope Agenda, relevant national laws and international best practices.

She said the retreat was intended to refine and interrogate the draft provisions to ensure that the resulting laws were practical, enforceable and inclusive.

‘We are here to refine, to interrogate draft provisions, and to ensure that the new legal framework we are crafting is practical, enforceable, inclusive, and capable of driving Nigeria towards food sovereignty and agribusiness-led economic growth,’ she said.

The director urged participants to be frank, constructive and forward-looking, assuring them that their contributions would be captured and reflected in robust legal drafts.

She also commended the minister, permanent secretary, development partners, legal experts and other stakeholders for their contributions to the reform process.

Speaking on behalf of the Chairman House Committee on Agricultural Production Services, Honourable. Bello Ka’oje, the deputy Chairman, R. Kelechi Nwogu, said the review of the 18 agricultural laws was important to ensuring that Nigeria’s legal framework remained relevant to emerging realities and opportunities in the agricultural sector.

He said the National Assembly was committed to working with the ministry and other stakeholders to ensure that the outcome of the review translated into practical and effective legislation.

Also speaking, the Consultant and Lead Partner, Thinkfield Law, Emeka Ogenyi, said the retreat would enable stakeholders to validate the proposed amendments to the 1 agricultural laws and incorporate approved inputs into the final document.

Ogenyi said the final harmonised version would subsequently be submitted to the Federal Ministry of Justice for legal drafting.

He explained that the proposed amendments were aimed at establishing a modern, coherent and fit-for-purpose agricultural legal framework capable of supporting sustainable agricultural development and attracting investment into the sector.

The retreat brought together members of the National Assembly, representatives of the Office of the Attorney-General of the Federation and Minister of Justice, directors of the Federal Ministry of Agriculture and Food Security, representatives of agencies under the ministry, legal experts, resource persons and other stakeholders.

The Nigeria Security and Civil Defence Corps (NSCDC), Oyo State Command, has dismissed allegations that the State Commandant, Augustine Padonu, compelled personnel deployed on beats across the state to make financial contributions towards his birthday and church harvest.

The Command, in a statement issued on Tuesday by its Public Relations Officer, SC Samuel Olubanjo Opebiyi, described the allegations as false, stressing that Padonu never instructed, directed or authorised any officer or personnel to contribute money towards either his birthday or church harvest.

According to the statement, the celebrations were personal to the Commandant and his family and had no connection with the official duties or resources of the NSCDC.

The Command also questioned the timing of the allegations, noting that the birthday and church harvest referred to in the publication took place in early August.

It said the allegations surfaced only after the recent redeployment and restructuring of command formations carried out on Thursday, September 24, 2026, for operational efficiency as the country prepares for the 2027 general elections.

The NSCDC said the timing could be linked to dissatisfaction among some individuals affected by the postings, describing redeployment as a routine measure necessary to position the Corps effectively for its responsibilities.

The Commandant, it added, remained focused on protecting lives and property, safeguarding critical national assets and infrastructure, and supporting other security agencies in maintaining peace and security across Oyo State.

Since assuming office, Padonu has, according to the Command, prioritised operational effectiveness, discipline, professionalism, inter-agency collaboration and the welfare of personnel.

The Command further stated that it would not tolerate any unauthorised deduction from or levy on personnel allowances, urging officers with genuine complaints to use established administrative channels for prompt and fair consideration.

It warned that any personnel found to have acted improperly would face appropriate disciplinary procedures in line with the rules of the Corps.

While acknowledging the role of the media and the public’s right to information, the NSCDC urged journalists to verify allegations and give affected institutions an opportunity to respond before publication.

The Command also urged members of the public to be cautious about receiving or circulating unverified claims concerning the leadership and activities of the Oyo State Command.

It assured the public that it would remain focused on its statutory responsibilities and would not be distracted by what it described as attempts to undermine public confidence in the Corps or the leadership of the State Commandant.

The NSCDC directed members of the public seeking clarification on its activities and operations to contact the Office of the Public Relations Officer, which it identified as the designated channel for official communication.

The Minister of Power, Joseph Tegbe, has called on the All Progressives Congress (APC) members and support groups in Oyo State to close ranks and deliver victory for President Bola Ahmed Tinubu and all the party’s candidates in the 2027 general elections,

The Minister stated that the President’s bold and audacious power sector reforms are already producing modest improvements in very short period, and positively impacting people’s lives.

He made the call during a series of engagements in Ibadan, beginning with the APC Reconciliation Committee, led by its Chairman, Senator Olufemi Lanlehin.

He commended the committee for healing the party after the primaries and promised to back its efforts by reaching out to aggrieved aspirants.

The Minister urged party leaders to ensure that all interests and political tendencies within the party are carried along and promised to continue to support the party.

Tegbe charged the groups to take the message to the grassroots and mobilise voters for the President’s re-election and for APC candidates at every level.

He told them that one of the strongest arguments they carry into the communities is what the reforms are doing for ordinary Nigerians.

According to him, ‘Under President Tinubu, the nation continues to record high generation and transmission, which have risen above 5,300MW in recent weeks. More power available on and off the grid means more electricity available to homes, markets, workshops and factories, and it strengthens the case for the industrial growth and job creation the President has promised.’

Tegbe who was received by the State Chairman of the APC, Chief Moses Alake Adeyemo, and members of the State Executive Committee at to the party Secretariat at Oke-Ado

Senator Lanlehin thanked the Minister and pledged that the committee would keep engaging aspirants and other stakeholders until full unity is achieved.

Leaders of the various support groups thanked the Minister for his consistent support of party members and pledged to work for the party’s success at the polls.

Guaranty Trust Holding Company Plc (GTCO) reported a profit before tax of N603.03 billion for the half year ended June 30, 2026, representing a marginal 0.4 percent increase over the corresponding period of 2025, as fair value losses moderated stronger underlying earnings.

The financial services group also declared an interim dividend of N1 per share, while interest income and trading income rose by 7.5 percent and 24.7 percent year-on-year respectively.

According to the audited results released yesterday to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), GTCO’s earnings growth was constrained by a N46.2 billion fair value loss recognised during the first half of the year.

The group said the loss moderated the growth in profit before tax despite stronger performance across its interest and trading income lines.

GTCO’s balance sheet continued to expand during the period, with total assets rising to ?lN18.6 trillion, while shareholders’ funds closed at N3.3 trillion.

The group’s deposit liabilities recorded stronger growth, rising 10.3 percent from N12.87 trillion at the end of December 2025 to N14.19 trillion by June 2026.

This contrasted with marginal growth in the net loan book, which increased 0.5 percent from ?3.13 trillion to N3.15 trillion during the six-month period.

The lender also reported an improvement in asset quality, with IFRS 9 Stage 3 loans declining to 3.5 percent at the bank level and 4.6 percent at group level, compared with 3.4 percent and 5.0 percent respectively at the end of 2025.

Cost of risk also improved significantly to 0.6 percent from 2.2 percent during the comparable period.

GTCO maintained a strong capital position, with its group Capital Adequacy Ratio standing at 34.9 percent, while the bank recorded a CAR of 29.2 percent.

The group reported a pre-tax return on equity of 35.9 percent and pre-tax return on assets of 6.6 percent, while its cost-to-income ratio stood at 31.5 percent.

Commenting on the results, Segun Agbaje, Group Chief Executive Officer, GTCO, said the performance reflected the resilience of the group’s franchise and balance sheet, despite the impact of fair value movements on reported earnings.

‘Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone,’ Agbaje said.

He added that interest and trading income grew, deposits strengthened and asset quality improved at group level.

‘The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group,’ he said.

The results come as GTCO continues to broaden its operations beyond conventional banking into payments, pension and funds management businesses across its operating markets in Africa and the United Kingdom.

The group said growth was recorded across the jurisdictions where it operates banking franchises, as well as its payments, pension and funds management businesses.

The N1 interim dividend provides shareholders with a cash distribution despite the marginal year-on-year growth in reported profit, with the company maintaining focus on balance-sheet expansion, capital strength and diversification of earnings.

A chartered accountant of Kogi State origin, Mr Michael Ayodele Tolobase, has been elevated to the position of a Partner at HLB Z.O. Ososanya and Co (Chartered Accountants).

His promotion was announced during the 70th anniversary celebration of the firm, held recently in Ibadan, the Oyo State capital, in the presence of staff, partners, guests and clients.

Tolobase’s elevation to the partner position was first announced by the Managing Partner, Mr Babatunde Kolawole, during a combined staff meeting held on September 16, which had in attendance Mr Simon Awotoye, a partner in the firm, and all staff from Lagos, Abuja and Ibadan, who converged on Ibadan for the 70th anniversary of the firm.

Tolobase joined HLB Z.O. Ososanya and Co (Chartered Accountants) in 2007 and qualified as a chartered accountant in 2009, passing all qualifying examinations on the first attempt. He later joined PKF Professional Services Lagos as an Audit Senior in 2010.

He also worked for Adebola Sobanjo and Co (Chartered Accountants) in 2014 as Audit Manager and later got promoted to the position of Branch Manager, overseeing the whole of the Abuja branch.

He started his own professional practice in 2020, leading the firm, Eagle Pattern Professional Services (Chartered Accountants). He subsequently rejoined HLB Z.O. Ososanya and Co (Chartered Accountants) in January 2023 until this year when he was elevated to the position of a partner.

Tolobase’s new portfolio takes effect from October 1.