Category: Nigerian Tribune

A member of the Ajeniya family, Mosood Ajeniya, has questioned the omission of Balogun Ajeniya and other prominent historical figures from the recently released historical film, King Kosoko: The Battle for Lagos, arguing that the struggle portrayed in the movie was broader than the actions of the monarch alone.

Ajeniya, in a detailed reaction to the film, said while he welcomed the growing interest of Nigerian filmmakers in telling stories from the country’s history, he was disappointed that some indigenous military commanders, landowners and commercial figures who, according to him, played significant roles in nineteenth-century Lagos were left out of the narrative.

He argued that the story of Kosoko’s resistance to British intervention should not be viewed solely through a palace or royal lens.

‘The king was on the screen, but the history was much bigger than the king,’ he said.

Ajeniya particularly questioned the absence of Balogun Ajeniya, whom he described as a prominent military commander and influential member of the indigenous Eyingbeti-Ijebu landowning community.

He argued that Kosoko’s political and military strength was supported by a network of chiefs, merchants, landowners and military commanders who controlled important commercial and strategic parts of Lagos.

According to him, the omission of such figures risked creating the impression that the historical struggle was essentially a conflict involving only Kosoko and his royal rivals.

Ajeniya said historical accounts associated with his research identify Balogun Ajeniya and Akinpelu Ipossu as among the commanders involved in the defence of Lagos during the British bombardment of December 1851, popularly associated with the struggle known as Ogun Agidingbi.

He said the contribution of indigenous commanders and community leaders deserved greater recognition in contemporary interpretations of Lagos history.

Ajeniya also argued that the nineteenth-century political struggle in Lagos was closely connected to commercial interests, land ownership, kinship networks and control of trade.

He noted that the period should not be reduced to a simple contest between political heroes and villains, describing the history of the era as complex and shaped by competing economic, political and international interests.

He further drew attention to the role of Ereko and the indigenous landowning communities in the political structure of Lagos during the period.

According to him, Kosoko’s political movement involved several influential figures, including Akinpelu Ipossu, Agbaje, Kujeniya and Iyanda Oloko, whose contributions, he said, have received limited attention in popular historical narratives.

Ajeniya also said the story of the Kosoko movement did not end with the British bombardment of Lagos in 1851.

He maintained that Balogun Ajeniya remained politically active after the conflict and was later associated with the migration of members of the Kosoko faction to Epe, where, according to him, the exiles established a new political and commercial centre.

He said the history of the migration to Epe and the subsequent relationship between the exiles, local communities and British colonial forces could provide material for future Nigerian historical films.

Ajeniya added that Balogun Ajeniya’s legacy remains visible in present-day Lagos through the popular Balogun Market, which he linked to the historical influence of the Ajeniya family and indigenous commercial networks in the area.

He said many residents and traders who use the market may be unaware of the historical figures associated with its name and the role they played in the political and commercial development of nineteenth-century Lagos.

However, he stressed that his criticism was not intended to dismiss King Kosoko: The Battle for Lagos.

Rather, he commended the filmmakers for investing in Nigerian history and urged the country’s film industry to explore more forgotten historical figures and communities.

‘I am not saying the film is bad,’ he said. ‘I am glad it was made, and I want to see more films like it.

‘But when we make historical films, we must challenge ourselves to tell the wider story because cinema does more than entertain. It shapes what people remember about those who came before them.’

He warned against historical narratives that focus exclusively on monarchs while overlooking military commanders, merchants, community leaders and other individuals who contributed to major historical events.

‘History was not made only by crowned heads,’ he said. ‘It was made by communities, networks of kinship and the collective struggle of people defending their land and interests.’

Ajeniya therefore called on Nigerian filmmakers and historians to pay greater attention to lesser-known figures whose contributions, he said, remain hidden behind more prominent names in the country’s historical memory.

FIFA and the Confederation of African Football (CAF) have directed the Nigeria Football Federation (NFF) to suspend its ongoing electoral process pending a joint assessment of the crisis within the federation.

The directive was contained in a letter dated 7 September 2026 and addressed to the NFF Deputy General Secretary, Emmanuel Ikpeme, by FIFA Chief Member Associations Officer Elkhan Mammadov.

FIFA and CAF said they were currently assessing the legal, governance, administrative and electoral implications arising from recent developments within the NFF.

President Bola Ahmed Tinubu on Tuesday reaffirmed the commitment of the Federal Government to converting the gains of the economic reforms which have brought stability into investments, increased production and job opportunities for Nigerian citizens.

Speaking at the 19th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, the President stated that the current phase of ‘our reform journey is accelerating the conversion of stability into investment, investment into production, production into jobs, and growth into improving standard.

‘The banking and financial services industry will be central to this transformation. Therefore, we need to move from intermediation to transformation. For years, we have measured financial institutions by balance sheet growth, profitability, and shareholder returns, these remain important. But we must increasingly ask, what is the financial system doing for the real economy?

‘A resilient banking system cannot exist indefinitely where businesses cannot obtain affordable credit. Manufacturing sector that is struggling cannot expand, and millions of productive MSMEs remain outside of the formal financial system, this requires us to retain risk’ he stated.

Represented by the Minister of Finance and the Coordinating Minister of the Economy, Mr Taiwo Oyedele, Tinubu explained that ‘recipient loan on an individual bank balance sheet is not necessarily the best allocation of capital for the economy.

‘That is why my government is expanding the architecture of guarantees, risk sharing, blended finance, and credit enhancement with the National Credit Guarantee Company and its core, to the risk productive investments and crowding multiples of private capital, rather than financing the economy directly by government law, a measure of success should increasingly move from how much government spends to how much productive capital it catalyzes.

‘Let me highlight for you five imperatives that are necessary to build a resilient financial system. First, growth facilitation. The recently concluded market capitalization must produce more than bigger balance sheets.

‘It must translate into capital formation in the real economy, financing Nigerian businesses as they expand across Africa and pursue our vision of a trillion-dollar economy. A bigger bank that does not finance a more productive economy is suboptimal.

‘Second, inclusion, access to a bank account is not the same as access to needed finance. True inclusion is when the market woman can access working capital at a reasonable cost, and the young entrepreneur can borrow against viable cash flow rather than the collateral inclusion.

‘We must. build a system that analyzes potentials and opportunities rather than quick gains. Technology, artificial intelligence, phone banking, digital identity, and instant payment are transforming financial services, our financial sector must help shape these innovations, not merely consume them. But greater digitalization creates greater vulnerability’.

He said, ‘Cybersecurity is now financial stability infrastructure, and resilience must include data protection and fraud prevention as much as capital adequacy. Fourth, long-term capital. Nigeria cannot finance long-term development predominantly with short-term Infrastructure. Industry, housing, and energy require patient capital, which means deepening our capital markets, insurance, pension, and asset management industry to mobilize domestic savings and foreign capital to productive investment.

‘Capital is highly mobile. It’s neither emotional nor attractive. It goes where risk adjusted returns are attractive and competitive. Our experience is to make Nigeria compete for capital as an attractive destination, fits, trusts And finance ultimately runs on trust.

‘Depositors trust banks. Banks trust borrowers. Investors trust markets. Citizens trust regulators to enforce the rules fairly. No amount of technology or capital compensate for a deficit of trust. Governance, consumer protection, and regulatory integrity remain fundamental to financial resilience.

‘So, from financing governments, we need to move to financing growth. There is another transition we must accelerate. For too long, attracting returns on government securities have made lending to the productive economy comparatively less compelling.

‘As fiscal conditions improve, government will progressively create space for more private sector credits. Our objective is a virtuous cycle. Stronger fiscal discipline reduces government financing pressure. Lower inflation supports lower interest rates. More earning appetite stimulates investment and production’ he stated.

Also speaking, the Managing Director of the Nigerian Deposit Insurance Corporation (NDIC), Thompson Oludare Sunday, said that as the institution mandated to protect depositors’ funds and contribute to financial system stability, the NDIC recognises that resilience extends beyond the ability to withstand shocks. It requires strong institutions, sound risk management practices, effective corporate governance, operational preparedness, and the capacity to adapt to emerging risks while maintaining public confidence.

‘Depositor confidence remains one of the most critical foundations of financial stability. A banking system that inspires confidence is better positioned to withstand periods of uncertainty and stress. This underscores the importance of effective deposit insurance, robust supervision, and orderly bank resolution mechanisms as essential components of the financial safety.’

Represented by Mrs Emily Osuji, the MD explained that building resilience is a shared responsibility. ‘It requires sustained collaboration among regulators, financial institutions, fintech operators, payment service providers, professional bodies, and other stakeholders within the financial ecosystem.

‘As financial services become increasingly technology-driven, the need to balance innovation with stability has become more important than ever. Digital transformation is accelerating financial inclusion and improving access to financial services, but it also introduces new risks relating to cybersecurity, data protection, fraud, and operational resilience. Our collective responsibility is to ensure that innovation strengthens the safety, soundness, and integrity of the financial system’ he stated.

In his welcome address, the President/Chairman of Council, the Chartered Institute of Bankers of Nigeria (CIBN), Dr Dele Alabi, noted that certain policies implemented in the past couple of years are beginning to yield fruit. ‘For example, within Nigeria’s financial system, 33 banks met the revised minimum capital requirements, with ?4.65 trillion in new capital raised, providing a further buffer against domestic and external shocks.

‘Credit must be accorded to our Iconic Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, for the visionary, exemplary, and transformational leadership provided in this direction. Likewise, recent indicators show that these efforts are beginning to rebuild confidence’ he stated.

‘As announced by Moody’s Ratings on 28 August 2026, Nigeria’s outlook was changed from stable to positive while the sovereign rating was affirmed at B3. Additionally, according to FTSE Russell’s March 2026 Semi-Annual Country Classification Review, Nigeria will be reclassified from Unclassified to Frontier market status, effective 21 September 2026. To top it all off, according to the latest figures from the National Bureau of Statistics’ Q2 2026 Gross Domestic Product Report, real GDP grew by 4.43 per cent year-on-year in Q2 2026, up from 3.89 per cent in Q1 2026. Collectively, these are all important signals of stronger macroeconomic stability, improving investor confidence and the prospect of broader access to global capital.

‘Yet they are milestones, not the destination. The true test is whether stronger fundamentals translate into ‘lower living costs, more jobs, higher real incomes, affordable credit, reliable public services and reduced poverty. Macroeconomic progress must therefore be felt at the micro level – in households, small businesses and the daily lives of ordinary Nigerians. It is for this reason that the theme of this year’s Conference is sound, and as Nassim Nicholas Taleb aptly observed in his book Antifragile, ‘Wind extinguishes a candle and energizes fire.’ Our task is to build systems that learn, adapt and emerge stronger.

‘It is against this background that, when I assumed office as the 24th President/Chairman of Council in May 2026, we introduced the IMPACT Vision as the strategic compass of this administration. Designed to move the Institute beyond identifying industry challenges to addressing them, the Vision provides a practical framework for strengthening professional standards, building industry capacity, promoting responsible innovation, and delivering measurable action. This Conference gives practical expression to The IMPACT Vision. Its discussions on recapitalisation, artificial intelligence, and geopolitical developments focus on institutional resilience; the Women-Focused Engagement advances the subject of inclusion and empowerment; the session on cyber and systemic risks promotes responsible innovation; and the Welcome Cocktail and Fireside Chat bring the next generation into the conversation. In this way, the programme advances the priorities of the IMPACT Vision and translates dialogue into action.

‘Distinguished Ladies and Gentlemen, this is precisely why the next phase of reform must focus on transmission: moving stability from national balance sheets to business balance sheets and household budgets. The Institute’s advocacy for scalable SME Hubs nationwide is one practical response. MSMEs are central to employment, enterprise and local value creation, but many remain constrained by high operating costs, unreliable infrastructure, limited access to markets, low productivity, skills gaps and slow digital adoption. Tailored to regional comparative advantages, the proposed hubs would provide shared infrastructure, business advisory services, capacity building, technology support, market linkages and easier access to finance. They would help reduce operating costs, improve bankability, stimulate innovation and connect recapitalised financial institutions more effectively to the real sector. In this way, the gains of reform can travel beyond aggregate indicators to stronger businesses, better jobs, higher incomes and more resilient communities.

‘To guide these deliberations, we are privileged to welcome our distinguished faculty from Nigeria and beyond. I particularly welcome Dr Mathew Verghis, Division Director for Nigeria at the World Bank Group, who will deliver the Keynote Address. I thank all our speakers, panellists, and moderators for their participation.

‘Distinguished audience, I cannot conclude without recognising the remarkable team behind this conference, the people whose hard work, dedication, and commitment have made this event a success. I sincerely appreciate the Consultative Committee, ably chaired by Mr Moruf Oseni, FCIB, Managing Director of Wema Bank Plc, ably supported by Dr Haruna Musa, PhD, FCIB, our versatile National Treasurer and Managing Director of Jaiz Bank. Thank you for your leadership, commitment, and tireless efforts in delivering this world-class event. Through you, I also appreciate every distinguished member of the Committee, particularly my indefatigable 1st Vice President, Mrs Mojisola Asieru-Sweet, for her unwavering dedication and invaluable contributions.

‘I sincerely appreciate the MDs/CEOs of our banks (Body of Banks’ CEOs) ably led by Mr Oliver Alawuba, FCIB, for their generous sponsorship of this programme. I also extend my heartfelt appreciation to all our esteemed sponsors for their invaluable support. Permit me to specially recognise our distinguished Past Presidents. May I respectfully request that they rise for a well-deserved round of applause. I also commend the IMPACT Team, Office Holders, Council Members, and EXCO of the CIBN. Your commitment, leadership, and dedication continue to move the Institute forward and turn our vision into impact.

‘Your Excellencies, Distinguished Ladies and Gentlemen, once again, I warmly welcome you to the 19th CIBN Annual Banking and Finance Conference. Let us translate our deliberations into practical outcomes that will strengthen the industry and advance the Nigerian economy.

The Independent National Electoral Commission (INEC) has sought the partnership of the Oba of Lagos, Oba Rilwan Osuolale Akiolu, and the Lagos Traditional Council to promote peace and citizen mobilisation ahead of the 2027 General Elections.

The INEC Chairman, Prof. Joash Amupitan, SAN, requested on Tuesday, 8th September 2026, during a courtesy visit to the monarch at Iga Idunganran, Lagos Island.

The visit concluded the Commission’s South-West Zonal Readiness Assessment and Staff Interactive Session.

Prof. Amupitan said traditional institutions have a critical role to play in sustaining peaceful elections.

‘We are here today to formally enlist Your Royal Majesty and the Lagos Traditional Council as partners in keeping the peace and safeguarding our democracy,’ he said. ‘Elections are civic celebrations of free choice, not contests of conflict or violence.’

He noted that while INEC is deploying technology to improve the electoral process, public cooperation remains essential.

‘Technology alone cannot build a democracy; people do,’ he said. ‘We humbly request your royal voice to help us mobilise the good people of Lagos. We want them to take ownership of the electoral process and turn out in their numbers when the time comes.’

With the National Register of Voters approaching 100 million, the Chairman said successful conduct of elections across 36 states and the FCT will require technical readiness as well as the support of traditional institutions.

He described traditional rulers as key custodians of culture, peace and social cohesion.

‘Political parties and electoral commissions come and go, but the traditional institution remains the permanent anchor of our communities,’ he said.

Prof. Amupitan specifically urged the monarch to counsel politicians to focus on issues during campaigns.

‘We urge you, as a father to all politicians regardless of their party affiliations, to counsel them to focus on issues rather than insults. Let them debate policies, not personalities,’ he said.

The INEC Chairman made three requests: royal blessings for INEC leadership, staff and ad-hoc personnel; use of the throne’s influence to encourage voter registration and PVC collection; and continued advocacy for peace among community leaders, market associations, youth groups and political actors.

In his response, Oba Akiolu pledged support and called on politicians to engage citizens meaningfully.

‘Politicians must move away from the culture of short-term patronage and focus on genuine capacity building – teaching our people how to fish rather than giving them fish,’ the monarch said. ‘Campaigning must remain strictly issue-based, free from hate speech and inflammatory rhetoric.

The Oba also identified discipline among young people as a national concern and said traditional rulers have a duty to encourage civic participation.

‘As Royal Fathers, it is our solemn duty to guide our communities and inspire citizens to turn out in large numbers to exercise their democratic franchise,’ he said.

He urged INEC leadership to remain impartial and committed to its mandate, and called on the Federal Government to ensure timely funding for the Commission to carry out its responsibilities effectively.

As political campaigns gather momentum in Delta State, the Nigeria Democratic Congress (NDC) on Monday received more than 1,000 members of the All Progressives Congress (APC), across the nine local government areas of Delta North senatorial district.

The defectors, including chieftains of the party, most of whom are drawn from the Delta Coalition For Equity (DCFE), said they are now ready to work for the victory of the presidential candidate of NDC, Mr Peter Obi, gubernatorial candidate Deacon Yovwaye Chris and others ahead of the 2027 elections.

They argued that they are tired of the workings of APC, which has not considered inclusiveness as a strong cord to achieve results.

Receiving the defectors in Agbor, Ika South Local Government Area, on Monday, the state chairman of the party, Dr Oyidobo Richmond, welcomed them and urged them to return to their wards and begin to work for the victories of NDC candidates.

Richmond said the NDC had no competitor in the state, adding that the performance of Peter Obi when he was Governor of Anambra State and his clean records had been attracting more people to NDC.

He said, ‘I want to welcome you to our great party; this is the party of victory. In NDC, we don’t discriminate. There are no old members; there are no new members. We are all equal; that is why we shall win.

‘Also, I want you to go back to your respective wards and local governments to work. It is your capacity in the party that will determine your reward in the NDC. We give everyone equal opportunities. So we must work hard to give him a landslide victory here.’

The defectors from Delta North senatorial district were led to the NDC by a former Convener, DCFE, Chief Alex Ikpeazu, who vowed to ensure that NDC takes over the state.

Ikpeazu, a philanthropist and community leader, hailed the governorship candidate of NDC in the state, Prince Yovwaye Chris, for charting the right political path for Delta State, adding that the state would fare better under NDC, especially as over 1,000 members had resigned from APC to join NDC.

He said, ‘The people of Delta North have been marginalised, deprived, and oppressed particularly by those who left Peoples Democratic Party (PDP) to APC. We are tired of being neglected. The people were just waiting for someone to lead the way, and that time has come.’

Deacon Yovwaye Chris, the governorship candidate, warmly welcomed the defectors to the party. Expressing delight over the defection to his party, he, however, advised them to be humble in order to benefit from whatever dividends would accrue to the party.

He described the defection as a ‘movement’ rather than decamping. ‘It’s not decamping, it’s a movement. We welcome you with open arms. We thank the DCFE for organising the party’s growth.’

He assured the new members of equal rights and urged them to respect the party’s constitution. ‘Anybody who comes with interest should drop it,’ he advised. ‘Let’s work together to achieve our goals. Everything anybody wants is through consultation with the leadership of the party.’

He attributed the defection to the Lord’s doing. ‘It’s a sign of the party’s growing strength,’ he said. ‘The rate of defection to NDC across the country is alarming. It can only be God who is behind this exodus. Imagine APC that people said that it’s a religion, about to move en masse to NDC. It is unbelievable.’

The Senatorial Chairman, Hon Harron Udaka; the APC leader in Delta North, Chief Steve Ikpade; and the Coordinator of 100% Overdo, Nacbeth Ojugbeli, said the large number of defectors to NDC is a significant political development, advising the new members to be humble and align with the party’s structure to ensure continuous growth.

Former Ekiti State Governor and ex-Minister of Solid Minerals, Kayode Fayemi, has called for a fundamental rethink of Nigeria’s economic and foreign policy strategies, warning that the country cannot sustain its global ambitions without first addressing the hardship, poverty and insecurity confronting millions of Nigerians.

Fayemi, who spoke during an interview on Arise Television monitored by Nigerian Tribune on Monday night, said the debate over fuel subsidy had increasingly become a political issue rather than a purely economic one, arguing that Nigerians were more concerned about the impact of government policies on their daily lives than the technicalities surrounding subsidy removal.

According to him, while he was not opposed to the removal of fuel subsidy, the major failure was the inability of successive administrations to adequately protect vulnerable Nigerians from the immediate consequences of the reform.

Fayemi disclosed that, towards the end of the Muhammadu Buhari administration, a technical committee comprising representatives of the federal government, state governors, the World Bank and organised labour had developed a safety-net strategy designed to cushion the effects of subsidy removal.

He said the committee, on which he served alongside former Kaduna State Governor Nasir El-Rufai and other stakeholders, produced a report on measures to mitigate the anticipated hardship.

‘There was a plan on how to mitigate the potential problems that were going to come,’ Fayemi said, noting that the challenge was that the strategy did not ultimately materialise.

He said the welfare of ordinary Nigerians should remain the central consideration in evaluating economic reforms, stressing that most citizens were not interested in the ideological arguments surrounding subsidy removal but in their ability to feed their families, educate their children and cope with rising living costs.

Fayemi also linked poverty and inequality to the wider security crisis in the country, arguing that addressing economic vulnerability was essential to tackling insurgency, banditry and other forms of insecurity.

The former governor said the political debate surrounding proposals for alternative economic policies should therefore focus on concrete programmes capable of improving citizens’ living conditions rather than rhetoric.

He also warned that no government could indefinitely ask citizens to endure severe hardship on the promise of future prosperity without risking a loss of public confidence.

According to him, economic reforms inevitably involve sacrifices, but citizens are more likely to accept such sacrifices when they perceive that the burden is fairly shared across society.

‘The populace likes to see beyond the improvement in their own economic condition than pain, however temporary, is universally felt,’ he said.

Fayemi further urged the ruling All Progressives Congress (APC) and the government to pay greater attention to the perception of frugality and responsible management of public resources, saying public confidence could be undermined when citizens perceive a disconnect between economic hardship and the lifestyle of some government officials.

He said the APC had historically projected itself as a party committed to prudence, discipline and responsible management of scarce resources, stressing that those values must remain visible in the conduct of government.

On Nigeria’s international standing, Fayemi argued that the country’s ability to exercise influence globally was inseparable from its economic strength, internal stability and capacity to meet the needs of its citizens.

He said Nigeria could not effectively project power abroad while ‘charity’ was not being seen to begin at home.

Recalling Nigeria’s historical role in Africa and the wider international community, Fayemi noted that the country once possessed sufficient economic and diplomatic weight to support liberation struggles, provide professional expertise to other countries and influence major international decisions.

He, however, maintained that declining material resources should not automatically translate into declining international influence, arguing that Nigeria could regain strategic relevance by adapting its foreign policy to the realities of a changing global order.

Fayemi advocated a foreign policy anchored on national interest, African unity, regional integration and global peace, urging the country to develop a clear grand strategy rather than merely choosing sides in the rivalry between global powers.

He also called for a return to a more assertive African leadership role, saying Nigeria should lead efforts to unite the continent and drive the implementation of the African Union’s Agenda 2063.

Fayemi argued that African countries must define their collective development priorities instead of continually looking outside the continent for direction.

He cited the role played by African leaders such as former Nigerian President Olusegun Obasanjo, former South African President Thabo Mbeki, former Ethiopian Prime Minister Meles Zenawi and former Algerian President Abdelaziz Bouteflika in advancing the New Partnership for Africa’s Development (NEPAD).

According to him, Nigeria must reclaim the leadership initiative and help build an Africa capable of defining and pursuing its own development agenda.

Looking ahead to the 2027 elections, Fayemi said whoever emerges as Nigeria’s president must make African leadership, economic renewal, security and improved welfare central to the country’s next phase of development.

He said Nigeria’s enormous potential would remain largely unrealised unless the country succeeded in building a secure, prosperous and economically resilient society at home while simultaneously reclaiming its influence abroad.

Nigeria is projected to record the fastest real estate market growth among major African economies over the next five years, driven by rapid urbanisation, growing population and rising demand for housing, according to industry market projection.

The report projects Nigeria’s real estate market to grow at a compound annual growth rate (CAGR) of 6.9 percent between 2025 and 2029, ahead of Kenya at 5.1 percent, Rwanda at 3.6 percent, Ghana at 3.4 percent and South Africa at 3.0 percent.

Despite prevailing macroeconomic challenges, foreign exchange pressures and risks associated with property title documentation, Nigeria received a 5/5 rating for overall investment appeal, placing it ahead of other major African property markets.

Nigeria and Kenya also jointly recorded the strongest growth-speed rating, scoring 4/5.

The report attributed Nigeria’s strong investment outlook largely to its huge market size, rapid urbanisation, persistent housing shortages and the potential for relatively high investment returns.

On regional market performance and rental yields, the report said Nigeria remains one of the continents’ most attractive property markets.

Southern African markets recorded the strongest gross rental yields at about 10 percent, followed by Zimbabwe at 9.2 percent and Cameroon at 9.1 percent.

Nigeria ranked fourth, with an estimated 8.0 percent gross rental yield, supported by strong housing demand, rapid urban growth and a shortage of adequate residential accommodation.

The report, however, noted that investment activity in Nigeria remains concentrated in selected high-value locations.

It identified Lagos, particularly the Lekki corridor and Eko Atlantic, as the country’s major property investment hotspots, where demand for high-end residential, commercial and mixed-use developments continues to attract investors.

In Kenya, Nairobi continues to benefit from strong demand for residential and logistics properties, while Kigali in Rwanda is attracting increasing interest in mid-market mixed-use developments, supported by relatively efficient urban planning.

South Africa, meanwhile, continues to attract investors looking for lower-risk opportunities and greater regulatory stability.

Although the country recorded the lowest growth-speed rating among the markets assessed, at 2/5, it maintained a relatively strong 4/5 investment appeal rating, reflecting the maturity of its property market and institutional environment.

The report highlighted the broader growth potential of Africa’s real estate sector, noting that the continent currently represents only a small proportion of global property wealth despite its rapidly expanding population and urban centres.

The global real estate market is currently estimated at $650.4 trillion, according to the projections.

Asia remains the dominant market, accounting for 41.8 per cent, valued at approximately $272.1 trillion. Europe follows with 27.8 percent, or $180.9 trillion, while North America accounts for 20.2 percent, valued at $131.2 trillion.

South America represents 2.8 per cent, or $18.4 trillion, while Australia and Oceania account for 0.8 per cent, valued at $5.1 trillion.

Africa currently accounts for about 2.7 per cent of global real estate value, estimated at $17.6 trillion.

Industry observers said the relatively small share does not necessarily reflect a lack of potential but points to significant room for expansion as African cities urbanise and demand for housing, offices, retail facilities and infrastructure increases.

The report projects that Africas real estate market will expand at an annual rate of 5.58 per cent between 2025 and 2029, more than twice the projected global average growth rate of 2.69 per cent.

A suspected member of a child-stealing and trafficking syndicate in Oyo State, Adejoke Popoola, has admitted selling two sets of children she gave birth to and stealing 19 other children for onward sale.

Popoola made the disclosure while speaking with journalists at the Oyo State Police Command headquarters in Ibadan on Monday, following her arrest in connection with an investigation into a suspected interstate child-trafficking network.

She said she had been involved in the alleged activities since October 2024, claiming that she sold a newborn boy and a set of twins.

‘God blessed me with the gift of pregnancy. Anytime a man has sex with me twice, I get pregnant, and it is always difficult to abort.

‘I have sold two sets of children, a newborn boy and twins as well, last year. I sold the twins to … clinic; she also resells them to her customers in Lagos. She has a baby industry. When the owner of the pregnancy rejects the pregnancy, that is when I sell. Sometimes I get N80,000 or N120,000 for each child I sell.

‘The clinic in Ogeere gave me N300,000 for the twins,’ she said.

Popoola, who said she had seven children of her own, explained that her children ranged in age from six to 34, with some already married.

‘I gave birth to seven children. Some are married. My last child is six years old, while the eldest is 34 years old,’ she said.

She also confessed to stealing children by gaining access to homes under the pretence of looking for accommodation.

‘I steal babies. I will go to their place and say I want to rent a house. Then, if I do not see anyone, if I see their children, I will just steal their children,’ she said.

According to her, a woman she worked with at Ogeere Market introduced her to the method of stealing children.

Popoola further said she sometimes presented herself as a spiritualist to gain access to children living with disabilities.

‘Sometimes, I disguise myself as a spiritualist. Parents bring their disabled children to me because they cannot talk, sit, or walk. So, I will promise them that I can help them to heal, then I will go and pick another person’s child for them,’ she said.

The suspect also recounted how she allegedly abducted a three-year-old boy, Ifakunle Ifagbenro, during an Egungun festival in Oyo Town.

She said she travelled to the festival after hiring a commercial motorcyclist and joined the family during prayers before offering to assist with the child.

‘I went to an Egungun festival to steal a child, Ifakunle. I woke up early and asked a bike man to drive me to the place where they were holding the Egungun festival, so he drove me to the house.

‘When I entered the house, they were praying, so I joined them and I even gave them money for the prayer.

‘When the Egungun left, the boy told his mother that he did not want to stay at home and wanted to join the procession. So, I volunteered to help hold the boy.

‘I joined them for the procession and, in the evening, I picked up the boy, laid him on my back and ran away with him,’ she said.

Popoola claimed that six of the 19 children she allegedly kidnapped had died.

‘About six children died from the 19 children I have kidnapped, but 13 are alive,’ she said.

The Police Commissioner in Oyo State, Abimbola Olugbenga, said the investigation had so far led to the rescue of 17 children and the arrest of seven suspects.

Olugbenga made the disclosure at a press briefing at the command headquarters in Eleyele, Ibadan, on Monday, saying what began with a petition eventually exposed a wider network involved in the alleged stealing, transportation, sale and concealment of children across state boundaries.

The petition, dated July 29, 2026, was submitted by Popoola, also known as Orente Alagbo, of the Sogade area of Ariyo, Ibadan.

According to the police commissioner, detectives subsequently connected the investigation to the disappearance of Ifakunle, who went missing during the annual masquerade festival in Oyo Town on June 29.

Olugbenga said Popoola had offered to carry the boy during the procession before leaving the venue with him.

He added that photographs and video footage from the event showed Popoola carrying the child, while further investigation placed her with the boy around the period he disappeared.

The commissioner said Popoola was arrested on August 4 and allegedly admitted attending the festival and leaving with Ifakunle.

Her statement, he said, became a major lead in the investigation, with the suspect allegedly disclosing her involvement in the theft of more than 15 children aged between two and seven from churches, parties and other gatherings in Oyo State and beyond.

Popoola allegedly identified Adekanbi Janet, also known as Hosanna, as an accomplice.

Police subsequently traced Janet to Mowe in Ogun State, where four children aged between two and four and two pregnant young women were allegedly rescued from her custody.

Olugbenga said Janet allegedly told investigators that stolen children were sometimes kept until buyers were found, while the pregnant women were kept in custody until they delivered their babies.

Information obtained from Janet, according to the police, also helped investigators locate and rescue Ifakunle around the Gbagi area of Ibadan on August 20.

The investigation later extended beyond the South-West when police detectives travelled to Agbor, Delta State, on September 2 and rescued four children allegedly stolen from Oyo State.

Two suspects, Christopher Joy, 48, and Rosemary Jesse, 53, were arrested during the operation, according to the commissioner.

Olugbenga said the operation established the interstate nature of the suspected trafficking network and also uncovered allegations involving the use of deceased children for ritual purposes.

He said suspects allegedly told investigators that children who died while in their custody were sold to suspected ritualists.

This led to the arrest of Muritala Fasasi, an Alfa, and Yakubu Azeez, a herbalist, the commissioner said.

The police said the six children who reportedly died in the custody of their alleged abductors were Musharaf Lawal Tajudeen, two; Greatness Adeagbo, five; Sainat Amoo, two; Taiwo Usman, two; Daniel Solomon Olayinka, seven; and Miracle Olaniyi, four.

The qualifying matches for the fourth season of the 1xCup treated fans to loads of thrilling moments and unpredictable outcomes. Nigeria’s best amateur football clubs fought for their dream and represented their communities with honor. The qualifiers determined the 24 strongest teams that will continue their quest for the 1xCup 2026 trophy and a ?20 million prize pool.

When, where and how: what you need to know about the group stage draw On September 11 at 12:00pm, The Providence Hotel will host the draw ceremony for the group stage of the 1xCup 2026. The event will be attended by the organizers of the 1xCup 2026, representatives of the participating clubs, sponsors, and prominent figures in Nigerian football. The media will have the opportunity to learn more about the teams and players, and to speak directly with the people behind Lagos’s biggest grassroots football tournament.

Journalists will be able to bring fans exclusive stories about talented players who may well make their professional debuts very soon. Last year, the draw ceremony set the tone for the entire competition.

Among the invited guests of 1xCup will be Nigerian football legend and LaLiga Ambassador Mutiu Adepoju, football veteran Dimeji Lawal, sports analyst and commentator Biola Kazeem, Senior Special Assistant on New Media to the Lagos State Governor Jubril Gawat, Senior Special Assistant on Youth Alabi Opeyemi, Senior Special Assistant on SDGs Folorunsho Michael, as well as Lagos Liga Commissioner and founder of Asem Sport Management Sandra Omoniyi.

Attending the draw ceremony offers the chance to take a look behind the scenes of the popular tournament and see the world of amateur football from a different perspective. The 1xCup 2026 is a unique sporting event that combines football with socially significant initiatives.

Following the draw, the 24 clubs that have qualified will be divided into 6 groups of 4 teams each. They will continue to compete for spots in the knockout stage. Scouts from professional clubs will attend the games.

Experience the unique atmosphere of Lagos’s top grassroots tournament and share it with fellow supporters. Journalists, reporters, and other media representatives will be able to attend the draw for the 1xCup 2026 group stage upon prior registration. To obtain accreditation for the event, you must follow the link and complete the Google form.

University workers are increasingly abandoning their cars and struggling to afford basic necessities as the rising cost of fuel, healthcare, food and other essentials continues to squeeze their incomes, the Senior Staff Association of Nigerian Universities (SSANU) has said.

National president of SSANU, Comrade Muhammad Haruna Ibrahim, disclosed this in an interview with the Nigerian Tribune, lamenting that the worsening economic hardship was taking a heavy toll on non-teaching staff in federal universities.

He said many workers had been forced to park their vehicles because they could no longer afford the cost of fuelling them, while transportation, medical bills, electricity, cooking gas and school fees were also placing unbearable pressure on their incomes.

‘So many of our people have parked their cars because they cannot afford to fuel them,’ Ibrahim said.

He added: ‘You cannot fill your tank with N100,000 and use it for one week, and it is finished. When you calculate it over four weeks, that is N400,000 on petrol alone. Where will you get money for electricity? Where will you get money for gas to cook? Where will you get money to pay school fees?’

The SSANU president said the situation had become particularly distressing because workers were not only struggling to meet household obligations but were also finding it increasingly difficult to access healthcare.

‘Today in Nigeria, to treat malaria, even at primary healthcare centres, you need nothing less than N30,000 because you have to do the blood tests, get diagnosed and then get drugs for five days,’ he said.

According to him, the financial strain was contributing to declining morale among university workers, with members constantly contacting the union leadership to complain about their deteriorating welfare.

‘My members cry to the leadership ear all the time. They call on phone to know what is happening, they lament, and their morale is very dampened,’ he said.

Ibrahim linked the hardship partly to the failure of the Federal Government to commence payment of the reviewed Consolidated Non-Teaching Staff Allowance (CONTTA) two months after the agreement revising the allowance was signed.

The government and the university non-teaching staff unions signed the reviewed agreement on June 29, 2026, after years of negotiations over the 2009 agreement.

The SSANU president stated that the reviewed CONTTA, which provides a 35 percent increase in the allowance for non-teaching staff, was intended to cushion some of the work-related expenses borne by university workers, including data subscriptions, professional memberships, conferences, seminars and presentations.

But, he said, no federal university had received funds for its implementation two months after the agreement was signed.

‘No federal university has been able to get one dime, one naira for the implementation,’ Ibrahim said, adding that the development had dampened the excitement that followed the signing of the agreement.

He said the situation was also being compounded by what he described as the non-remittance of pension contributions deducted from workers’ salaries.

The union leader warned that the continued deterioration of workers’ welfare could have consequences beyond individual households, arguing that poorly motivated university staff could undermine the quality and sustainability of tertiary education.

‘If universities are poorly funded and the staff are angry and hungry, you will continue to have bad products, and then the country will be in for it,’ he said.

Ibrahim therefore appealed to President Bola Ahmed Tinubu to prioritise funding for education and ensure the implementation of agreements reached with university workers.

‘Our call to the President and his lieutenants is to prioritise expenditure. They need to prioritise expenditure,’ he said.

‘University education and education generally are priorities anywhere in the world.’

He warned that continued inadequate funding could ultimately weaken the university system, stressing that education remained central to national development.

‘If we continue to have this drop in releases in the education sector, definitely, the system will crumble. The government must seriously prioritise expenditure, and fund our universities,’ the SSANU president said.