2027: ‘It’s corruption’ – Idowu condemns N10 billion for presidential campaign

Bukola Idowu, Executive Director, Kimpact Development Initiative has kicked against the N10 Billion spending mark for presidential election campaign, insisting it gives room for corruption.

He noted that the president in four years does not earn up to N10 billion as his salary, saying this does not add up.

He said that by making this law, the National Assembly has made elections purely commercial.

“That has been the narrative. That is what the lawmakers were saying that, look, this was a provision from the 2022 Electoral Act and then when you look at the inflation rate, then that 5 billion is not justifiable and justiciable,” he said on Arise News..

“But the question we keep asking them, and we have made this presentation to them several times, and that is to tell you that, look, their decision is not being backed by fact, statistics or data.

“How did you arrive at 3 billion for Governors? Because look at it this way, Kano has about 44 local government areas. Bayelsa has eight local government areas. So if you are campaigning in Bayelsa, you are going to campaign with 3 billion. Someone in Lagos is going to campaign with 3 billion. What data are you using?

“So at the end of the day, you now say the President is going to be 10 billion. So even the governor is going to go round like about 30 local governments with 3 billion. So how did you arrive at 10 billion for the President?

“So it doesn’t really make any statistical sense. It is not backed by law. The president in four years does not earn up to this amount in salary,” he stated.

FCT polls: By 3pm I already won election – ADC’s Mo claims

Candidate of the African Democratic Congress, ADC, in the 2026 Abuja Municipal Area Council election, Dr Moses Paul Ogigi, has claimed that by 3pm on Saturday, he had already won the elections.

He said he had already won by 3pm, before what he described as magic began to happen.

Dr Mo, who was defeated by the candidate of the All Progressives Congress, APC, as announced by the Independent National Electoral Commission, INEC, said it was disheartening to see the imposition of curfews, mutilation of results, vote buying and how members of the ADC were harassed.

“This is why these particular elections that we just concluded will be a defining moment in the democratic journey for Nigeria,” he said on Arise News.

“Not because it reflects the will of the people, but because it exposes that obstacle that hangs in the way of the will of the people. I came into this particular race, hoping that, believing in democracy, believing in the resilience of the will of the people in Abuja, believing that, especially with the change in the INEC leadership, so I was hoping for something new.

“By 3pm I had already won the elections across board and then magic began to happen. And this is, this is a crazy thing. So not only do I reject the outcome of the results, but I also…it is so disheartening to see the imposition of curfew, to see the mutilations of result, to see how members of the ADC were harassed from different polling booths.

“And I’ve never seen a heightened level of vote buying like we’ve seen in this particular election.”

Lagos launches aerial surveillance patrols to boost crime fighting

The Lagos State Security Trust Fund has launched aerial surveillance operations across Lagos in partnership with the Nigeria Police Force Airwing Command, to strengthen crime prevention and public safety in the state.

In a statement released on Monday, the Trust Fund explained that the initiative is designed to deepen intelligence-led policing and improve the overall security architecture of Lagos.

The first operation, conducted the same day, involved low-altitude patrols over both Lagos Island and the mainland, showcasing the operational reach and rapid-response capability of the new surveillance strategy.

Commenting on the development, LSSTF Executive Secretary, Ayo Ogunsan, described the aerial patrols as a critical step toward modernising security operations in the state. He said the initiative represents a strategic investment aimed at protecting lives, property and economic activities.

According to Ogunsan, the patrols will enable real-time monitoring of crime-prone areas, enhance situational awareness, deter criminal activity and improve coordination among security agencies across Lagos.

He noted that the maiden flight signalled the beginning of a sustained programme rather than a one-off exercise.

He stressed that the continuous deployment of aerial surveillance sends a clear message to residents and criminals alike, assuring law-abiding citizens of enhanced safety while warning those intent on disrupting public order that criminal activities will not be tolerated. Ogunsan also acknowledged the support of Governor Babajide Sanwo-Olu in facilitating the initiative.

Providing further insight after the maiden patrol, the Commissioner of Police in charge of the Airwing Command, Martin Nwogoh, said the exercise demonstrated the efficiency of aerial surveillance in policing operations.

He explained that the patrol covered extensive parts of the state within minutes, highlighting the speed and flexibility of air support in security management.

Nwogoh added that beyond surveillance, aerial assets could be deployed for rescue missions and tactical operations, including the rapid deployment of personnel when required.

The Commissioner of Police, Lagos State Command, Moshood Jimoh, said the introduction of air patrols would significantly enhance coordination between ground, marine and aerial units.

He noted that the patrol route covered areas such as Makoko, Yaba and parts of Lagos Island, describing the exercise as a strong warning to criminal elements operating within the state.

The LSSTF reaffirmed that the aerial patrols form part of a broader plan to deploy innovative security solutions across Lagos.

It assured residents that the flights are strictly for surveillance and public safety purposes, while urging continued cooperation with law enforcement agencies to maintain peace and security statewide.

Lagos Airport reopens after fire incident, three flights diverted

The Federal Airports Authority of Nigeria, FAAN, says the airspace at Murtala Muhammed International Airport Terminal One has reopened following a fire outbreak.

Managing Director Mrs. Olubunmi Kuku told journalists on Monday that there were no fatalities, but six people sustained injuries during the incident.

She said three international flights were diverted, including those operated by Emirates, British Airways, and Lufthansa.

According to Kuku, “Some of our operations were affected; however, they will be back up and running in the next half an hour.”

She said the immediate priority was containing the fire, while investigations into the cause are ongoing.

“What is important is that we activated our emergency procedures and evacuated everyone with no fatalities due to coordinated efforts by all agencies,” she said.

Kuku said the airport’s Emergency Operations Centre had been activated, led by the airport manager as Chief Safety and Security Officer.

“He is taking charge. There is a standard procedure we follow when it comes to emergencies,” she added.

She noted that coordination among agencies followed established protocols, with support from relevant state authorities where necessary.

On renovation works, Kuku said projects were ongoing within the airport, but not in the area where the fire reportedly began.

“In the area we believe the fire started, nothing was happening at the time. People were only moving items out.

“The fire started from the ground floor, according to our investigations so far. We are awaiting confirmation and cannot say more at this time,” she said.

She confirmed the fire escalated to the roof, adding that police and helicopters supported rescue operations swiftly.

“We have professionals, including civil and structural engineers, to assess the building’s integrity and determine the next steps,” she said.

Kuku said most departures and arrivals had been moved, with departures largely relocated to Terminal Two.

She added that four airlines were scheduled to move into the temporary terminal, which she described as ready for use.

“In terms of the full operations affected, I would say not a lot,” she said, adding that the temporary terminal would be active within days.

Addressing lingering smoke, Kuku assured passengers that firefighters would remain on the ground as a precaution.

Phone tapping: Surveillance regulations could be used against civilians, govt critics -SERAP

The Socio-Economic Rights and Accountability Project, SERAP, says surveillance regulations could be used against civilians and those critical of the government.

Deputy Director of SERAP, Kolawole Oluwadare, made this statement on Monday while fielding questions in an interview on Arise Television.

His remark comes after allegations by the former Kaduna State Governor, Nasir El-Rufai that the National Security Adviser, NSA, Nuhu Ribadu’s phone conversation was intercepted.

Recall that El-Rufai reportedly claimed that he and another person tapped the phone call of the NSA.

Airing his own opinion, Oluwadare said, “With the kind of weight and power this kind of regulation has, it should go through the legislative process and public hearing. These regulations will take away major rights Nigerians have.

“The current regulations governing interception may not be necessary in their present form. Concerns exist regarding the wording of these laws, the provisions for civil liberties safeguards, and the potential for misuse.

“It is unclear how agencies like the DSS or the Office of the National Security Adviser utilize these powers, raising concerns that they might be used against civilians or government critics.

“Regulations of this magnitude, which could impact fundamental rights, should undergo a thorough legislative process, including public hearings, to incorporate necessary safeguards and ensure their effectiveness in addressing insecurity.

“This stance does not advocate against an interception framework altogether, but rather suggests it should align with models found in other jurisdictions, incorporating robust safeguards as envisioned in existing legal frameworks.”

Lagos NMA calls for dully equipped PHCs with doctors

Lagos State Chairman of the Nigerian Medical Association, NMA, Babajide Saheed, has called for comprehensive upgrades to all Primary Healthcare Centres, PHCs, insisting that each facility must be fully functional, properly equipped, and staffed with at least one medical doctor.

Saheed said strengthening primary healthcare at the community level is critical to meeting the needs of underserved populations and easing the growing burden on secondary and tertiary hospitals across Lagos State.

He explained that many residents, especially those in densely populated and low-income areas, still lack access to nearby primary healthcare facilities. As a result, they are often forced to travel long distances or depend on substandard alternatives for basic medical attention.

Speaking exclusively with newsmen, the NMA chairman reiterated his earlier position that the existing number of PHCs is grossly inadequate for a state with a population estimated at over 20 million.

According to him, Lagos currently has 376 wards, and each ward should ideally have a fully operational primary healthcare centre to ensure equitable distribution of services at the grassroots.

Saheed also raised concerns about uneven manpower distribution, noting that while some PHCs have multiple doctors, others operate without any medical doctor at all.

He warned that the shortage and poor spread of functional PHCs often lead to delays in treatment, worsening health conditions, and avoidable deaths, stressing that early intervention at the primary care level remains vital to disease prevention and improved health outcomes.

The NMA chairman maintained that a strong and accessible primary healthcare system forms the backbone of an efficient and equitable health sector.

He explained that aligning the number of PHCs with the number of wards would make healthcare services more accessible and responsive to community needs.

He further emphasised that each PHC must have at least one doctor attached to it, arguing that distributing doctors evenly across facilities would boost public confidence, improve quality of care, and enable early detection of complications before referral to higher-level hospitals when necessary.

Saheed also urged the state government to strengthen its healthcare workforce and explore partnerships with the private sector to expand access to care.

He noted that private hospitals could be integrated into the primary healthcare system to offer basic medical services at affordable rates, following models already in practice in some areas.

According to him, such collaboration would help reduce congestion in major hospitals, cut healthcare costs, and ensure that residents can access essential medical services closer to their communities.

How UBA reinforces diaspora banking, investment for wealth creation

UBA

For many people in Diaspora, wealth creation should be one of their priorities. But achieving the feat requires formidable platform that makes wealth building and investment seamless.

The inauguration of a diaspora banking and investment platform by United Bank for Africa (UBA Plc) was to create wealth building mileage for Africans in diaspora.

At the unveiling, which took place at UBA’s global headquarters in Lagos under the theme: “Beyond Banking: Powering the Global African Lifestyle, all the company representatives were on hand to showcase a seamless platform that goes beyond remittances, wealth creation, protection, and long-term prosperity.

Speaking at the event, UBA’s Head of Diaspora Banking, Anant Rao, described the initiative as a strategic shift in how Africa engages its global citizens.

“For decades, Africa’s engagement with its diaspora has focused largely on remittances. Today, we are moving beyond that. This platform represents a transition from simple money transfers to a financial ecosystem where Africans globally can bank, make payments, invest, protect their families, and build long-term wealth seamlessly,” he said.

Rao noted that African diaspora remittance flows exceed $100 billion annually, making them one of the most resilient and consistent sources of capital into the continent.

“Diaspora capital is not just a flow of funds — it is a strategic growth partner for Africa.

Our role is to provide a trusted platform that converts capital into structured investment and shared prosperity across the continent.”

The objective is to provide a platform that brings together offerings across the numerous needs of the Global African, including Banking and payments, Investments, securities services, asset management, Insurance, Pensions, real estate and Pensions.

Through this coordinated ecosystem, diaspora customers can access financial solutions across multiple sectors through a single trusted platform, enabling them to manage their financial lives and family commitments across borders with ease and transparency.

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, emphasised the importance of collaboration in delivering a seamless diaspora experience.

“The modern African is a global citizen — mobile, ambitious, and deeply connected to home. Whether living in Africa, Europe, the Americas, or the Middle East, there must be a structured and secure financial connection back home. This platform ensures that Africans everywhere can remain economically connected to the continent with confidence and transparency.”

Partners within the ecosystem highlighted growing demand among diaspora Africans for structured investment opportunities, secure property ownership, insurance protection, and long-term financial planning.

United Capital showcased globally accessible investment products designed to deliver professionally managed and transparent wealth creation opportunities.

Afriland Properties emphasised structured and well-governed real estate investment pathways for diaspora clients.

Heirs Insurance highlighted protection solutions for life, and assets, while Avon Healthcare Limited demonstrated healthcare access and insurance solutions for families across borders.

Africa Prudential and UBA Pension reinforced digital investment management and long-term pension savings solutions designed to support diaspora participation in African capital markets.

Together, the partners underscored a shared commitment to providing diaspora Africans with credible, transparent, and professionally managed financial pathways.

Rao also reiterated the guiding philosophy of Africapitalism, championed by UBA’s Founder and Chairman, Tony O. Elumelu.

He explained that Africapitalism is the belief that Africa’s private sector must play a leading role in the continent’s development by making long-term investments that generate both economic returns and social impact.

As Africa continues to position itself as one of the world’s most dynamic growth frontiers, UBA believes mobilising diaspora capital through trusted financial institutions will be central to shaping the continent’s next phase of development.

CBN mops up dollars to slowdown Naira appreciation

Naira-DollarThe Central Bank of Nigeria (CBN) slowed naira appreciation at the official window and mopped up about $190 million from the local currency market last week.

The local currency had appreciated speedily at the official window, but the exchange rate retreated for the last three trading sessions that closed on Friday.

Some analysts warned that the naira’s successive rally would force foreign investors to exit the fixed-income market. Selling down their interest in investment securities will lead to a spike in demand for the US dollar.

This could plunge the market into abysmal conditions and increase US dollar outflow from the economy. Despite the absence of FX intervention, the local currency has been relatively stable versus the dollar.

Last week, CBN purchased $189.80 million to absorb excess supply and moderate naira gains, TrustBanc Financial Group Limited said in a report.

The investment firm said the currency strengthened across both segments, appreciating N9.09 week-on-week in the official window to N1,346.32/$, while the parallel market gained N60.00 to N1,340/$.

TrustBanc reported that the FX spread narrowed sharply to 0.47% from 3.29% last week, reflecting improved convergence between both markets.

On the macro front, analysts said firmer oil prices, rising reserves and reform-driven inflows continue to support currency stability despite lingering geopolitical risks.

Nigeria targets $5.7b investments in power, mining, manufacturing

EdunNigeria has moved to attract major foreign investment as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a delegation from GCL Group in Abuja to discuss projects valued at up to $5.7 billion across key sectors of the economy.

The delegation was led by Orji Uzor Kalu, according to a statement released Monday by the Finance Ministry on its X handle.

The ministry said the proposed investments would focus on large-scale power generation, local processing of mineral resources and the establishment of new manufacturing plants.

The statement added that the planned projects are designed to expand job opportunities, increase exports and encourage value addition within Nigeria rather than exporting raw materials

Officials explained that the engagement reflects growing interest from international investors, which they link to ongoing economic reforms introduced under the administration of Bola Ahmed Tinubu. The ministry said these reforms are helping to improve investor confidence and create conditions for long-term economic growth.

According to the statement, the discussions also support Nigeria’s broader goal of moving from dependence on raw commodity exports to a production-driven economy built on domestic processing and manufacturing.

The ministry added that strengthening electricity supply, expanding industrial capacity and improving local production remain central to the government’s economic strategy, noting that investments in these areas are expected to play a major role in boosting productivity and stabilising growth over time.

New Moniepoint case study sheds light on the digital payment infrastructure powering community nightlife across the country

Moniepoint Inc., Africa’s leading all-in-one financial ecosystem, has released a new case study titled “The Business of Community Nightlife in Nigeria,” providing a rare, data-driven look into the country’s informal night economy.

While high-end “Detty December” venues grab headlines with daily revenues of ₦360million and table prices reaching ₦1.2million, Moniepoint’s research shifts the spotlight to the “community nightlife” where roadside bars, suya spots, and neighborhood joints form the bedrock of social life for millions of Nigerians.

The robust study was drawn from transaction data across more than 27,000 clubs, bars, and lounges sitting on Moniepoint’s payment rails alongside fieldwork with nightlife operators and workers across the country. Combining anonymised transaction data processed by Moniepoint with field interviews and observational research across multiple Nigerian cities, the study provides a rare, ground-level view of how money, labour, and social life intersect after dark.It is the latest in a series of sector-specific studies by the company aimed at bringing data visibility to Nigeria’s informal economy.

According to the report, in a stark contrast from wider informal economy trends, cash plays a diminishing role in nightlife payments. The report shows that bank transfers dominate, followed closely by card payments, with cash actively discouraged due to security concerns. Moniepoint’s data shows that transfers outpace card payments by nearly 2 million transactions during peak nighttime hours across its network.

One of the study’s most operationally significant findings concerns the timing of spending. Nightlife in Nigeria runs long but economically, the night is decided early. Transaction volumes begin climbing sharply from 8pm, peak before midnight, and then decline steadily even as venues remain full. By the time the night is at its longest, purchasing activity has already wound down. However, for bar operators, this has clear practical implications – the most critical hours for staffing, stocking, vendor payment and cash flow management are the earliest hours of the day between midnight and 6am.

The report further underscores the sector’s role in employment, noting that local bars typically expand their workforce by 30-50% on peak nights. Conservative estimates suggest at least 54,000 people are engaged in nightlife labor every night across Nigeria.

“Nigeria’s local bars and night-time operators are not peripheral to the economy, they are a critical part of its architecture. We see a substantial and sustained economic sector that employs hundreds of thousands of Nigerians every night and deserves the same attention we give to agriculture, healthcare, and retail. Our goal is to make sure every one of those businesses has the tools to grow. From giving credit to finance renovations and sound systems to providing same-day settlement that allows vendors to restock and with tools like Moniebook that power inventory management and reconciliation, Moniepoint is ensuring that this vital artery of the nation’s economy remains viable and empowering,” said Tosin Eniolorunda, Co-Founder and Group CEO, Moniepoint Inc.

Other key interesting findings include:

The most common transaction narrations from the data sourced – “food”, “pay”, “sent”, “pos”, “cash” – reflect the full breadth of nightlife spending: street food, club entry, lounge tabs, transport, and afterparties. Digital payments have gained huge traction in Nigeria’s social space.

While alcohol remains a key revenue driver, the data shows that food is the quiet stabiliser of Nigeria’s night economy, particularly in local and informal settings. In several neighbourhood venues, bottled water and meals outsell beer and spirits, especially early in the evening.

Lagos leads in sheer concentration of nightlife establishments, with 4,856 bars, clubs, and lounges on the Moniepoint network. FCT follows with 2,515, then Rivers (2,362), Delta (1,930), and Edo (1,574).

Katsina leads the country in nighttime food truck payment value, with vendors pulling in over ₦130 million in the last 12 months. Kwara State leads in transaction count. Nigeria’s nightlife economy is distributed, not overly elitist.

On the lending side, the report notes that a significant share of loan requests from bar and lounge operators is directed toward renovations, furniture, lighting, and sound systems showing that investments intended to attract and retain customers in a competitive sector where ambience plays a decisive role.

Moniepoint continues to fuel this sector through innovative features like “POS Transfers” and by assigning a dedicated bank account to each terminal, the system provides an instant “audio-visual” confirmation, a signature “ping”, that allows service to continue without the friction of waiting for SMS alerts or verifying screenshots. Furthermore, in addressing the unique safety needs of consumers, Moniepoint cards are designed without visible card numbers, expiry dates, or CVVs, ensuring that a customer’s financial information remains secure.

As Nigeria’s largest distributor of financial services, Moniepoint’s ongoing commitment to financial inclusion and economic development has positioned it as a catalyst for growth across Nigeria and beyond. The company processes billions in transactions monthly and continues to expand its reach, supporting millions of businesses with payments, banking, credit, and business management solutions.