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The Nigerian naira is staging its strongest comeback in years, fueled by surging foreign reserves, declining speculative activities in the foreign exchange market, and sweeping reforms introduced by the Central Bank of Nigeria (CBN). The currency, which had been battered by years of volatility and sharp depreciation, is now regaining investor confidence and market credibility, writes JOSEPH INOKOTONG.

BEGINNING from when the naira struggled to maintain relevance against the United States dollar, trading at historic lows across both official and parallel markets, Nigeria’s local currency has begun to recover lost ground. As of late September 2025, the naira traded at N1,475/$ at the official window and about N1,460/$ in the parallel market, marking its strongest position this year. The gap between both markets, once wide enough to encourage arbitrage and speculative hoarding of foreign exchange, has now narrowed to an almost negligible margin.

At the heart of this recovery is a steady rise in Nigeria’s external reserves, now standing at $43.05 billion, up from $40.51 billion in July. With an import cover of over eight months and a current account surplus that more than doubled in the second quarter of 2025, the Central Bank of Nigeria (CBN) has been able to reassure investors and businesses of the economy’s resilience.

But beyond the numbers, the naira’s rally tells a larger story of institutional reforms, market confidence, and a determined policy shift aimed at reining in speculation and restoring stability.

A Currency’s Reputation Restored

For Nigeria, the naira is more than a medium of exchange. It is a symbol of national identity and economic sovereignty. Years of depreciation had not only weakened its purchasing power but also eroded confidence in the financial system. Businesses struggled with multiple exchange rates, importers could not access forex on time, and ordinary Nigerians bore the brunt of skyrocketing inflation.

Today, optimism is returning. Market analysts, policy experts, and even small-scale currency dealers acknowledge that speculative trading, a major factor behind the naira’s volatility, has declined sharply. With liquidity injections, improved reserves management, and tighter compliance with forex rules, the CBN has successfully reduced distortions that once plagued the market.

A Bureaux De Change (BDC) operator in Lagos, Garuba Sarki, admitted that many dealers recently incurred losses as they were forced to sell below purchasing rates due to the narrowing exchange gap. ‘This is expected to continue in the weeks ahead,’ he said, noting that fresh dollar inflows are likely to strengthen the naira further.

Investors’ Renewed Confidence

The CBN’s reforms under Governor Olayemi Cardoso have not gone unnoticed. International oil companies, foreign portfolio investors (FPIs), and domestic institutions are all responding to what they perceive as a more transparent and accountable foreign exchange regime.

Head of Research at Commercio Partners, Ifeanyi Ubah, explained that Nigeria’s rising reserves are a sign of stronger external buffers. ‘With reserves strengthening, speculative activity subsiding, and oil earnings supporting inflows, many market watchers believe the naira’s current rally has a stronger foundation compared to previous cycles of volatility,’ he said.

Indeed, the combination of foreign portfolio inflows, repatriated earnings from oil companies, and diaspora remittances has significantly bolstered supply. The CBN’s interventions to authorised dealers have further stabilised the market, while a more efficient foreign exchange framework has helped sustain investor interest.

Policy Anchors: FX Code and EFEMS

A major pillar of the ongoing reforms is the Foreign Exchange Code (FX Code), introduced by the CBN to enforce standards of ethics, transparency, and accountability in the market. The FX Code compels institutions to submit detailed compliance plans, signed off at board level, outlining how they intend to uphold best practices in trading and reporting.

According to the President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, the FX Code has been a game changer in curbing speculation. ‘By entrenching transparency and accountability in FX market operations, the code has effectively kept speculators in check and strengthened naira stability,’ he said.

Governor Cardoso has stressed that the code is aligned with international standards and tailored to Nigeria’s unique market challenges. ‘The era of opaque practices is over. Violations will be met with penalties and administrative actions under the CBN Act 2007 and BOFIA Act 2020,’ he declared at the launch.

Complementing the FX Code is the Electronic Foreign Exchange Matching System (EFEMS), designed to provide real-time information on currency rates, volumes, and market activity. The system curtails distortions and eliminates the opaque pricing that once allowed speculation to thrive.

Additionally, the CBN lifted the controversial restriction on 41 import items, a policy reversal aimed at improving access to FX for businesses and promoting trade and investment.

Reforms Rooted in Crisis Management

When Cardoso assumed office in October 2023, Nigeria’s FX market was in disarray. A backlog of over $7 billion in unfulfilled obligations, multiple exchange rates, and collapsing investor confidence created a daunting landscape. His immediate priority was unifying the exchange rate to eliminate arbitrage and restore transparency.

‘Over the past year, we have undertaken critical reforms to unify Nigeria’s exchange rate, eliminating distortions and restoring transparency. This unification has enabled us to clear outstanding foreign exchange obligations, giving businesses the confidence to plan and invest,’ Cardoso said during the last Monetary Policy Committee (MPC) meeting.

From manufacturers to airlines, market participants now report improved planning and smoother access to FX. While challenges remain, the progress has laid a foundation for longer-term stability.

The Diaspora Connection

Beyond oil exports and foreign portfolio investments, Diaspora remittances have become a critical source of FX inflows. Recognising this, the CBN introduced two new products targeted at Nigerians abroad: the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA). These accounts allow Nigerians abroad to remit foreign earnings, manage funds in multiple currencies, and invest in domestic financial markets, from bonds and equities to mortgage products. By formalising remittance channels and offering flexibility, the CBN hopes to double receipts within a year.

Western Union’s Regional Vice President for Africa, Mohamed Touhami el Ouazzani, recently noted that Africa received $90 billion in remittances in 2023, underlining their importance for household welfare and financial stability. He described remittances as ‘seeds of change,’ with the potential to transform economies if properly harnessed.

Market Watchers Urge Caution

While optimism is high, experts caution that sustaining the naira’s rally will require more than monetary policy. Analysts stress the importance of maintaining fiscal discipline, boosting crude oil production, and diversifying exports to reduce dependence on oil revenues.

For now, the CBN’s interventions have restored short-term stability. But without structural reforms in energy, manufacturing, and agriculture, Nigeria risks repeating past cycles where temporary rallies gave way to sharp downturns.

A New Era for the Naira?

The naira’s rally represents more than just numbers on a trading screen. It signals a shift in Nigeria’s economic narrative, from a currency battered by speculation and policy inconsistencies to one benefiting from transparency, investor confidence, and strategic reforms.

For businesses, the implications are far-reaching: better planning, reduced hedging costs, and stronger investor appetite. For households, a stable naira means relief from the relentless inflation that has eroded purchasing power. And for policymakers, it represents a chance to consolidate reforms that can finally align Nigeria’s economy with its potential.

Still, the task ahead remains formidable. Exchange rate stability must be complemented by robust productivity growth, non-oil exports, and a disciplined fiscal regime. If these are achieved, the naira could indeed sustain its current momentum and reclaim its place as a true instrument of national pride.

Lecture delivered under the joint auspices of the Geographical Society and the Federalist Society of Nigeria at the University of Ibadan on 16th May, 1970

Continued from last week

Consequently, when Britain actually devalued its currency, unilaterally and without consultation with the members of the Sterling Group, on 18th November, 1967, I already had clear in my mind what the implications of this action would be for the Nigerian economy, and also what the effects of devaluation or non-devaluation of the £N to the country’s economy would also be. Nonetheless, I quickly arranged a meeting with my officials and the Governor of the Central Bank to argue the matter all over again. Powerful arguments were marshalled for and against the devaluation of the £N. But, in the end, we decided not to devalue; and whatever might have been the theoretical arguments to the contrary, subsequent events have shown that we were wise not to have devalued in slavish sympathy with Sterling devaluation.

In this connection, I would like to observe, in passing, that though the requirements of politics and the realities of economics do not always mix, yet, even if it had been wise for us to devalue, the unilateral manner in which Britain called the tune would have been regarded as such an affront to our independence and sovereignty as to make me want to refuse to dance to that tune.

As I said before, we lost substantially as a result of the Sterling devaluation, and would have lost much more if we had devalued. We could ill-afford any loss – let alone a substantial loss – of foreign exchange, in the prevailing circumstances. But this was the risk we took as a member of the Sterling Group. Howbeit, it was a risk we did not want to continue to take. Yet, after a careful consideration, we came to the view that it would not be prudent for us to pull out of the Sterling community. In order, therefore, to avoid a repetition of our painful experience, we sought to secure from the British Government a guarantee against a recurrence – that is, against loss, in the event of another devaluation of the British £. It must be said to the credit of the British Government that the guarantee which we sought was readily given. The same thing goes for other countries, similarly circumstanced as ourselves, within the Sterling community. In other words, we are now fully insured against loss, in the event of a future devaluation of the Sterling.

As a result of all these measures, we were able to provide, on our own, £230.8 million in local currency, and £70.8 million in foreign exchange, to finance the civil war. We were also able, as a result, to survive the strains, the stresses, and the exigencies of the war, without blemish to our national honour and pride, and without any corrosion of our sovereignty and self-confidence. Furthermore, by being compelled to mobilise and deploy the financial resources of the country to meet the ineluctable demands of war, we were able to discover – this much is revealed by the facts and figures which I have given in the course of this lecture – that the capacity of Nigeria for economic growth and self-reliance is enormous.

My officials and I have been commended for the prudent manner in which we had managed the finances of the country during the war. It would be hypocritical for me to say that we do not deserve some praise. But I think it is to our great and beloved country that ‘all glory, laud, and honour’ should go, for its expansive and fascinating manageability. No one in this country could have predicted that Nigeria could go through this kind of war without being heavily indebted financially to anyone outside Nigeria, and, at the same time, emerge at the end of it all as a most virile and buoyant economy. We had successfully weathered the storms of one of the worst civil wars in history, and we are now fortified by our war-time practical experiences to meet the multifarious and intricate challenges of peace, including the rapid development of our country. In other words, we are in a position today to say truthfully that we have fulfilled the first of our two objectives by winning the war, and that we are properly equipped and sufficiently strong financially to fulfil our second objective of winning the peace.

It would be erroneous to regard the sum of £300 million as representing the total and only cost of the civil war to Nigeria. This figure is no more than the calculable and visible cost of the war. There are other costs: some are hidden; some are incalculable; others are waiting to be calculated by diligent economists, econometricians, and statisticians.

In the early part of this lecture, I spoke of lost grounds and progress foregone. The average growth rate of our GDP (excluding oil), during the period of 1958/5.9 to 1966/67, is 6.6 per cent. Dr. John D. Letiche, Professor of International Economics at the University of California, in the United States, assuming a growth rate of 5 per cent for our GDP, opined in September 1968, eighteen months before the end of the war, that, because of the civil war, Nigeria ‘has lost income foregone of a minimum of$400 million . ‘This must have since doubled to about £286 million. The cost of infrastructure, public and private properties, damaged and destroyed, during and because of the war, has not yet been fully calculated. But it will be generally agreed that this must run into several millions of £N. And, of course, we all know that the cost of the civil war, in terms of human sufferings, and of human lives lost, is incalculable. I now turn to the second part of this lecture: the implications for the future economy of the nation of financing the Nigerian civil war.

I take it that we all agree that the civil war, like any war at all for that matter, could not have been fought for any length of time, let alone victoriously after a protracted campaign, without adequate funds. This being so, I would like to state that financing the Nigerian civil war – that is, making it possible for us to wage the war as we did – has left us with bad and good legacies which can have far-reaching implications for the future economy of the nation. I propose to deal with six of such implications.

FIRST: Because of the protraction and continuous escalation of the war, Nigeria is now left with a large army – about twenty times its pre-war size – which poses a serious dilemma for the economy. If we continue to keep them at the present strength, the bulk of our resources would have to be diverted for their maintenance, to the prejudice of the economy and of the masses of our people. On the other hand, if we demobilised a large number of them immediately, without their simultaneous absorption into alternative employments, our highways and alleyways would, of a certainty, be infested by hungry, discontented, and disillusioned youths who might be tempted to commit violent crimes, again to the prejudice of the economy and of the masses of our people.

SECOND: Today, most of our hospitals as well as many of our homes are filled with the maimed and the wounded of the war. For many years to come, they will, quite properly, remain an unreciprocated charge on the economy. In other words, they will remain an inevitable addition to the country’s population of non-producers who must be fed, housed, clad, and generally cared for at public expense.

THIRD: Extensive damage and destruction to public and private properties had been caused, in certain parts of the country, as a result of the war. All these will have to be made good and restored with new resources which would otherwise have been utilised for new and additional developments.

FOURTH: I did speak before of the crazy vagaries of the unorthodox market for arms and ammunition in which we were obliged to operate in the early stages of the war. This is putting it mildly and politely. In all its aspects, war is very bad business; and the unorthodox ,market for military equipment is the worst and the most sordid black market conceivable. It was abundantly clear to us that, if our proposed Iron and Steel Complex had been in production, we would have been able to produce all the small arms and ammunition needed by us, at the Nigeria Defence Industries. Partly because of the state of mind into which it was thrown by the sharp practices of arms racketeers, the Federal Military Government gave a big fillip to the negotiation for establishing an Iron and Steel Complex for Nigeria; and if all goes well, the Complex should be in production by about 1974 or 1975. All of us know what this means for the future economy of our country, especially if petro-chemical industry is established in the country, simultaneously. In concrete terms, it means self-sufficiency in practically all consumer durables; it means the local production of a good number of capital goods; and it also ipso facto means considerable savings and increase in our foreign exchange reserve.

FIFTH: The exigencies of the war did well to shock us out of our traditional complacencies, and to compel us to make a clean break with the injudicious and injurious economic policies of the

past, and chart for ourselves a new path of financial prudence. Practically, all the important measures introduced by us during the war testify to the validity of this assertion. The selective restrictions on imports and the attendant switch to import-substituting goods; the sealing of wasteful loopholes in our foreign exchange transactions and earnings, including the centralisation in the hands of the Central Bank of all foreign exchange receipts emanating from Nigeria; the financing of the Marketing Boards by the Central Bank with consequent automatic advantages to the Government and Marketing Boards alike, in additional revenue for the former and lower rate of interest, coupled with assured source of finance, for the latter, the introduction of companies super tax and payment of terminal dues – all these and more are concrete evidence of what we had done to arrest the unhealthy trends of the past, and are accurate pointers to what can be done in the future to make Nigeria a free, self-reliant, and prosperous economy.

SIXTH: The financing of the civil war has enabled us to discover that Nigeria possesses an economic resilience and expansiveness which we did not sufficiently notice before. In this connection, I would like to emphasise that this resilience, and this expansiveness, was by no means accidental.

All the requisite material and manpower resources for the early attainment of economic greatness have always been available in abundance, and are only waiting to be conscientiously recognised, mobilised, and deployed. Potentially, Nigeria is a giant economy capable, under prudent and competent guidance, of making giant strides. All those who are concerned with making plans for her forward motion must recognise this important fact, lest, as in the past, they hinder her natural velocity. There are classical instances of inadvertent hindrances in the past. The 1962/68 NATIONAL DEVELOPMENT PLAN assumed a growth rate of 4 per cent. The GUIDEPOSTS FOR SECOND NATIONAL DEVELOPMENT PLAN which was published in June 1966 assumed a growth rate of 6 per cent for 1968/73. In paragraph 10 of the GUIDEPOSTS, the following revealing passage occurs: ‘If the 4 per cent minimum growth rate per annum assumed under the current plan is realised, the GDP will amount of about £1,304 million in 1967/68. During

Minister of Power and member of All Progressives Congress (APC), Adebayo Adelabu, has declared that it is his turn to become the governor of Oyo state in 2027.

In a viral video sighted by Tribune Online on Sunday, Adelabu, while addressing a gathering, said his ambition was not driven by selfish motives but by a genuine desire to improve the lives of the people in Oyo State.

Speaking in Yoruba, he said, ‘I have been on this political journey for quite some time. In politics, I have learned that one may not always get what one deserves in a single attempt – life and politics have both taught me this lesson.

‘I have paid my dues. I contested alongside Seyi Makinde in 2019 and again in 2023.

‘Today, I declare: it is our turn – it is my turn in 2027, as God has revealed it. Adelabu! Àwálòkàn! Penkelemesi Èmilòkàn!

‘We will begin our door-to-door campaign in earnest, and by the grace of God and our collective efforts, victory is not only possible – it is certain.’

This is coming a few months after Adelabu debunked insinuations that President Bola Ahmed Tinubu would impose him on the All Progressives Congress (APC) in Oyo State as the party’s 2027 governorship candidate.

He maintained that the APC would conduct a primary when the time comes and that the best candidate would emerge without any form of imposition.

The Ondo State Government has announced a 100 per cent increase in bursary allocations for indigenes of the state studying in recognised public and private institutions across Nigeria.

The State Commissioner for Economic Planning and Budget, Mr Laolu Akindolire, disclosed this in Akure during consultative meetings with stakeholders on the preparation of the 2026 budget.

Akindolire described the decision as the outcome of deliberate fiscal planning and resource prioritisation by the state government, noting that it reflects the administration’s unwavering commitment to inclusive development and human capital investment.

He stated that ‘This bold and strategic decision is coming at a time when many states are grappling with economic strain. It is not just a policy shift; it is a reaffirmation of Governor Lucky Aiyedatiwa’s belief in the transformative power of education and the importance of supporting young indigenes as pillars of tomorrow’s economy.’

He explained that the Aiyedatiwa-led administration has continued to place citizens’ welfare at the core of its development agenda, saying, ‘the increase in bursary allocation is another clear signal that the government listens, empathises, and acts.

‘For some students, this bursary is the difference between staying in school or dropping out.’

The Commissioner noted that despite lean resources, the state government remains resolute in investing in areas that directly impact the people, especially youth empowerment and education.

He said the increment forms part of a broader strategic plan to build an empowered, educated, and resilient youth population across universities, polytechnics, and colleges of education.

He further called on private sector players, development partners, and philanthropic individuals to complement government efforts in advancing education and youth development in the state.

Reacting to the development, Comrade Ganiyu Yusuf, a student leader, commended the state government’s initiative, describing it as timely and impactful.

Yusuf said, ‘This shows that the government is thinking about us. It’s not just about roads and buildings; this bursary means food, books, rent, and peace of mind.’

Nigeria’s First Lady, Senator Oluremi Tinubu, has declared that the era of branding Nigeria as the ‘most corrupt country’ in the world has come to an end.

The First Lady made the remark during her official working visit to Gombe State, where she commissioned several health facilities, including the newly established Federal Medical Centre (FMC) in Kumo.

She urged Nigerians to refrain from running down the country’s image, noting that the world now views Nigeria as a nation of opportunity and rising global relevance, owing to the reforms of the current administration led by President Bola Ahmed Tinubu.

During the visit, Remi Tinubu paid homage to the Emir of Akko in his palace, stressing that ‘the era when Nigeria was branded the most corrupt country is over.’

According to her, the international perception of Nigeria is changing positively, and citizens must begin to show national pride by speaking well of their country.

The First Lady stated, ‘Calling on us as Nigerians, stop badmouthing your nation. Gone are the days when they say Nigeria is the most corrupt country. You won’t hear that again.’

‘Even when I go abroad, when they hear you’re from Nigeria, everybody’s interested. They want to come to Nigeria. Nigeria is the next destination,’ she added.

She commended the natural beauty of Gombe State, describing its landscape as comparable to that of the English countryside.

According to her, ‘We have to be proud. Your landscape is beautiful. I’ve never seen anything like that. You see that in the London countryside, but I’m seeing it here in Gombe and in other states too.’

Remi Tinubu linked her call for national pride to the administration’s ongoing reforms in security, education, and grassroots development, noting that traditional and religious leaders play vital roles in shaping citizens’ attitudes.

She explained that her work as First Lady is driven by a desire to leave Nigeria better than she met it after her husband’s tenure.

She stressed, ‘I’m 65 years old now, I pray I live long. But I’m working so hard so that when my husband finishes his tenure, me too I can walk around safely. That is what drives me.’

The First Lady urged Nigerians to be proud of the country’s progress and to support the present administration as it continues its efforts to restore Nigeria’s lost glory and strengthen its standing in the comity of nations.

The rising political influence of Gbenga Olawepo-Hashim, a key figure in the Peoples Democratic Party (PDP), is reportedly creating unease within both the ruling All Progressives Congress (APC) and the PDP, especially in the South-West.

Observers say Hashim’s expanding support base and grassroots reach have disrupted long-standing political structures in the region, prompting both parties to rethink their strategies ahead of the 2027 elections.

In recent weeks, APC networks in Lagos and Oyo States have intensified rallies and media engagements in support of President Bola Ahmed Tinubu. Analysts see this as a response to Hashim’s growing appeal among young voters and professionals.

‘Supporters of President Tinubu, who initially believed the APC would enjoy a smooth dominance in the South West, are now sponsoring rallies and media offensives to counter Gbenga Hashim’s ideological surge,’ a source within the South West PDP told reporters.

Within the PDP, Governor Seyi Makinde of Oyo State is also said to be facing new political pressure as Hashim’s growing influence reshapes internal dynamics across the region.

While Makinde remains a key figure in Oyo, analysts note that Hashim’s rising profile has gained support across Osun, Ondo, Lagos, and parts of Oyo State, challenging Makinde’s control over the South West PDP bloc.

‘Makinde had assumed he would naturally command regional backing for the PDP presidential ticket, but the rising tide of Gbenga Hashim’s movement has made it clear that the contest will be intense,’ another party insider said.

Meanwhile, former President Goodluck Jonathan, who has reportedly been weighing a possible return to the PDP presidential race, is said to be rethinking his plans and may consider the African Democratic Congress (ADC) due to growing resistance from Hashim’s supporters within the PDP.

According to party sources, Hashim’s camp has made it known that if Jonathan returns to the PDP race, it would not be an automatic ticket but a competitive primary, reflecting the renewed ideological debate within the party.

Hashim, who has long promoted value-driven and people-centered politics focused on productivity, restructuring, and ethical leadership, is increasingly seen as a rallying point for Nigerians dissatisfied with both APC and PDP’s traditional politics.

Political observers believe his current momentum could reshape the 2027 political outlook, especially in the South-West, where his message of ‘ideological politics over personality cult’ is gaining wider acceptance among emerging political groups.

Drop shipping is a retail business that entails outsourcing products and shipping to a third-party supplier. It is another way of selling online without a physical store. As a seller, your responsibility is to promote items instead of keeping warehouses or managing inventory.

As a drop shipper, you’re the intermediary between suppliers and customers. You don’t get paid for items until they are purchased by customers. When you get orders, you link them to wholesalers or manufacturers who directly send the goods to the customers.

Below is the step-by-step guide on how drop shipping works:

1. Set up an online store

As the retailer, you would create an online store where you would sell your selected products from a supplier or marketplace. It is in this virtual store, you would showcase, describe, and give the exact price of a product. Your customers have no business with your suppliers; you are the intermediary that gets the deal done and ensures your wholesaler sends the purchased items.

2. Customer order

Your potential customers would browse through your online store to purchase what they want. They pay you based on the price tag you’ve given. Your payment system should be legit and easy to navigate; otherwise, it can slow down sales. Build trust with your customers; they will keep coming back.

3. You send the order

As the retailer in this business, your duty is to send the order of your customer to the supplier once payment has been made. You send the wholesale price (which is actually less than the price you sold the item) to the supplier and the details of the customer. Drop shipping platforms automate this process, so, no hassles.

4. Supplier processes the order

Here, the supplier takes over. They are responsible for packaging the product for shipping. This means you’re exempt from the logistics involved in sending goods. A trustworthy supplier will not compromise quality and will also ensure the right product is packaged and sent to your customer.

5. Customer receives product

It is expected that after the goods have been sent by the supplier, your customer will receive their order. As the retailer, you still have to be in touch with your customers to know if there is any concern or complaint about the goods they ordered. This is how you can strengthen your relationship with your buyers and, of course, your brand.

The apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, has issued a scathing condemnation of the recent demolitions of shops and structures at the Lagos International Trade Fair Complex, accusing Governor Babajide Sanwo-Olu of orchestrating a deliberate attack on Igbo investments.

In a statement released Sunday, signed by Deputy President General and National Spokesman Mazi Okechukwu Isiguzoro and Chief Chinemeze Ohia, the group demanded an immediate halt to the demolitions, describing them as a ‘calculated political vendetta’ aimed at dismantling Igbo economic contributions ahead of the 2027 elections.

The demolitions, which targeted structures largely owned by Igbo traders, have sparked outrage, with Ohanaeze labeling them a ‘profound injustice’ and an ‘economic affront.’

The group argues that the actions violate the 1999 Nigerian Constitution, specifically Section 40 on freedom of association and movement, as well as the African Charter on Human and Peoples’ Rights, the UN Convention on Human Rights, and the 1978 Land Use Act, which mandates lawful revocation of occupancy rights, advance notice, and compensation. According to Ohanaeze, no such due process was followed.

‘The apex Igbo sociocultural organisation, Ohanaeze Ndigbo, finds it imperative to address, with unwavering candor, the insidious actions perpetrated by the Lagos State Government under the stewardship of Governor Babajide Sanwo-Olu. We hereby demand an immediate cessation of all demolition activities that specifically target Igbo investments within Lagos State. Such measures are not merely administrative actions; they are perceived as a calculated political vendetta designed to systematically dismantle the economic contributions of the Igbo residents in Lagos State, compelling them to vacate the state in advance of the 2027 elections.

‘With the utmost gravity, Ohanaeze Ndigbo condemns the recent demolitions of shops and structures at the Trade Fair Complex in Lagos. These acts represent a profound injustice, an economic affront, and a blatant violation of the rights of traders, the majority of whom are of Igbo ancestry. The recent demolitions blatantly contravene the protections afforded to individuals by the 1999 Nigerian Constitution, particularly Section 40, alongside the African Charter on Human and People’s Rights, the UN Convention on Human Rights, and the foundational provisions of the 1978 Land Use Act, which unequivocally requires lawful revocation of Rights of Occupancy, advance notice, and just compensation for affected property owners.

‘Independent investigations commissioned by Ohanaeze Ndigbo have revealed alarming violations of the Urban and Regional Development Law of Lagos State. Notably, there was a conspicuous absence of environmental impact assessments or consultations with stakeholders prior to these demolitions. Insights obtained from interviews with Dr. Oluyinka Olumide, the Lagos State Commissioner for the Ministry of Physical Planning and Urban Development, underscore that the Trade Fair Complex is under the jurisdiction of the Federal Ministry of Trade and Investment, thus inherently questioning the legality of state-led demolition actions.

‘Ohanaeze Ndigbo resolutely calls on Governor Sanwo-Olu to halt these assaults on Igbo properties and investments in Lagos State. We remind the Governor that he was overwhelmingly supported by the Igbo community during his 2019 electoral campaign. Since his administration’s commencement, our records reveal that over 2,753 properties-houses, shops, and their valuable contents-have been callously demolished without due recourse to the owners, representing colossal losses amounting to approximately 23 trillion Naira in investments. It is incumbent upon us to confront these issues forthrightly, irrespective of any political sensitivities.

‘Our assessments evince a concerning pattern; it appears that the Lagos State Government may be engaging in acts of political retribution against Ndigbo in Lagos, particularly in the wake of the electoral dynamics observed in the aftermath of the 2023 elections. The prevailing inflation rate of 23.9% only exacerbates the economic harm inflicted upon Igbo traders, and indications suggest that further demolitions will occur as a means to diminish the Igbo presence prior to the 2027 elections.

‘ln a passionate plea, we urge President Bola Ahmed Tinubu to intervene directly in this matter. The President must order an immediate cessation of further demolitions and compel the Lagos State Government to deliver adequate compensation to those affected. Additionally, we advocate for the reopening of the Calabar Seaport, which has languished in disuse for 59 years, and call for the establishment of a new Southeast Seaport at the Azumiri Blue River, in Ukwa East LGA Of Abia State,located a mere 34 nautical miles from the Atlantic Ocean.

‘Furthermore, it is imperative that we alert the Igbo community residing in Lagos State to the troubling prospects ahead. Information at our disposal indicates that additional demolitions targeting Igbo properties may occur as early as 2026. It is high time for Igbo business owners to evaluate the sustainability of their investments in Lagos and consider reestablishing their enterprises in the Old Eastern Region, particularly the Southeast. The ‘Think Home’ philosophy (Ak? Ruo Ulo) is increasingly seen as the most viable strategy in response to the ongoing demolitions. Standing united, we shall confront these injustices and ardently defend the rights and livelihoods of the Igbo people’.

The Director-General of the National Youth Service Corps (NYSC), Brigadier General Olakunle Nafiu, has urged Corps members to embrace self-reliance by cultivating a savings habit and investing in themselves rather than waiting for government jobs.

Speaking during his visit to the 2025 Batch ‘B’ Stream ‘Two’ Corps members at the NYSC orientation camp in Iseyin, Oyo State, he told the Corps members that their monthly allowance could be the foundation for future financial growth if managed wisely.

He explained that the key to creating wealth lies in discipline and prudent spending.

The NYSC DG said that by saving a portion of their monthly allowance, Corps members could accumulate enough capital to start small ventures that may grow into sustainable businesses.

‘Create your own wealth, create your own start-up? How do you do that? Save out of your allawee. As soon as you open your bank account, open a savings account also,’ he said.

Nafiu pointed out that NYSC provides an equal opportunity for all graduates regardless of their family background, emphasizing that financial success depends on personal choices, not privileges.

He said, ‘And that’s why NYSC is giving all of you a level playing field. You’re all sitting here now, you don’t know those that are from wealthy families. You don’t know whether you’re ever sitting next to someone that was getting N500,000pocket money.

‘As far as we are concerned, 77K can maintain all of you. When you cut your clothes according to your size, choose your style according to the available fabrics. Save 20% of your 77K, that will give you N15,400 every month.’

The NYSC DG also encouraged Corps members to adopt an entrepreneurial mindset and not rely solely on government for employment. He cited examples of past Corps members who started small side businesses during their service year that eventually became their main source of income.

He reminded them that the NYSC scheme was established to build national unity, leadership capacity, and civic responsibility among young Nigerians, urging them to view their service year as a launchpad for their personal and professional development.

‘With diligence, commitment. passion, you can start a business or businesses. Instead of everyone waiting and sitting at home for many years.

‘Don’t wait for government. Employ yourself and help government out by employing others. The people that have been coming to your SAED training, some of them thought it was government who would help them, but they started a side hustle, and the side hustle has turned to main hustle,’ the DG stated.

Nafiu, therefore, advised Corps members to conduct themselves responsibly in their host communities, avoid negative social media commentary about the state, and maintain respect for local customs.

He said, ‘The NYSC is not to waste your time. It’s designed to help you to integrate. It was instituted 52 years plus ago. To foster national unity, build bridges, foster national cohesion, contribute to development, and build leadership skills into the young graduates. All the country look forward to, or look up to, as the leaders of tomorrow.

‘You are the leaders of tomorrow. It’s a matter of fact, you own this country. With your population, with your intellect, with your skills, with your voice, you can shape the future of this country and make this country greater than it’s been handed over to you.

‘Be good, responsible, and respectful guests of the Oyo people. Don’t go on social media talking about the state.

‘Believe in this country. If you don’t believe in this country, it’s going to be difficult for things to work for you. Because when you see opportunity, you will not even trust it, and you will slip up.’

On his part, the Oyo State NYSC Coordinator, Mr. Peters Kayode, briefed the DG on the smooth conduct of the ongoing orientation course involving 2,363 Corps members.

He noted their good behaviour and enthusiasm toward camp activities and commended the Oyo State government for its consistent support, including improvements to camp facilities, but appealed for additional bunk beds to address accommodation needs and reaffirmed the staff and corps members’ commitment to the goals of the NYSC scheme.

‘So far, this set of leaders are discharged in the most exceptional way. It is also imperative to bring the attention of the Director-General that camp officials are on top of the assignment. Camp facilities are adequate and functional,’ he said.

The state coordinator informed the NYSC DG that the state government had already taken steps to improve camp infrastructure. He explained that the government had requested a cost estimate for flooring the camp’s multipurpose hall, adding that the project would soon be completed.

He also noted that both the state and local governments had pledged to supply between 1,000 and 2,500 plastic chairs to make camp life more comfortable for corps members.

‘This camp continues to enjoy the support of Oyo State government and our various stakeholders, which make things much easier for the operation of the scheme.

‘It is my belief that at your next visit, these facilities will have to be put in place. Equally, I am pleased to inform the Director-General that I will continue to maintain the operational models of the scheme in Oyo State, as I have been doing since my assumption of duty as the State Coordinator. Challenges and needs of the orientation camp,’ he added.

They say after the storm comes the sunshine, and Nollywood’s Abiola Adebayo is proving that in every sense of the word.

Following the shocking collapse of her marriage, which left many fans stunned given her calm and graceful nature, the radiant actress has chosen not to stay in the shadows of heartbreak.

Instead, she has picked up the pieces with admirable strength, channeling her energy into new projects and self-growth.

Her fast-rising podcast, Talk To B, has become a refreshing platform where actors and actresses open up about their struggles and triumphs, a space that reflects Abiola’s empathy and resilience.

It’s no surprise that the actress, fondly called ‘Biola Bayo,’ continues to endear herself to both fans and colleagues alike.

But it was her recent outing at the star-studded Babaloja movie premiere that truly stole the spotlight.

Looking effortlessly chic in a crisp white shirt and blue jeans, Abiola dazzled on the red carpet with her glow and confidence, radiating a beauty that spoke louder than words.

Onscreen, she played a significant role in the movie, but offscreen, she became the evening’s highlight.

Cameras couldn’t get enough of her as she laughed, mingled, and later hit the dance floor with veteran actor Femi Branch.

The duo swayed to the evergreen tunes of Haruna Ishola, skillfully served by the famous DJ Gavpop, and the crowd loved every moment.

For an actress who has weathered personal storms, Abiola’s appearance was more than just style, it was a statement. A statement that she is moving on, rebuilding, and glowing stronger than ever.