2027: Not providing primary, secondary school certificates disqualified Tinubu – Kenneth Okonkwo

A chieftain of the African Democratic Congress, ADC, Kenneth Okonkwo, has claimed that President Bola Tinubu’s inability to provide his primary and secondary school certificates to the Independent National Electoral Commission, INEC, disqualifies from being Nigeria’s president.

Okonkwo charged Tinubu to respect the Nigerian law governing qualifications into universities.

INEC had published credentials and other details of all presidential candidates contesting in the 2027 elections.

Tinubu had presented only his university certificate, while that of his primary and secondary were missing.

This has raised a widespread concern from Nigerians, raising fresh questions about his educational qualifications.

However, Okonkwo posted on X: “Nigeria has its laws that should be respected. No Nigerian is qualified to go to a University without 5 credits at the O’ Level.

“Tinubu purporting to be qualified for President by providing a foreign University certificate, which the University publicly declared did not emanate from it, without providing his secondary school certificate or its equipment disqualifies him from being President.

“The only reason our democracy is in peril is because of judicial rascality.

“Despite all warnings by the Chief Justice of Nigeria and the National Judicial Council (NJC), some judges have operated as an island on their own, interpreting the laws they made on the bench, bereft of the imprimatur of the legislature.

“The judges have usurped the powers of the executive and the legislature from the bench with the instrumentality of perverse judgement.”

GAFDAN rejects reports of targeting Fulani communities in Bokkos

Plateau State chapter of the Gan Allah Fulani Development Association of Nigeria, GAFDAN, has refuted allegations made by a group called the Bokkos United Community Based Organizations, indicating that Fulani people have relocated to some communities in the council with the intention of launching attacks and occupying the affected communities.

In a statement signed on Monday by the State Chairman of GAFDAN, Hon. Garba Abdullahi Muhammad, the organization described the allegations as not only deliberately false but inciteful and a misleading attempt to pit the Fulani people against the local communities.

The statement made available to DAILY POST noted that the accusations, which have been widely circulated on social media platforms, inadvertently described the Fulani people as terrorists and criminal elements who have stealthily infiltrated communities in Bokkos with the aim of unleashing terror attacks.

Expressing his dismay at what he called a desperate display of misinformation, Muhammad said

the publication made sweeping allegations against Fulani people while also attempting to portray normal religious gatherings as evidence of criminal activity.

In the statement titled “Re-Rebutal of false, inciteful and misleading social media allegations targeting Fulani communities in Bokkos LGA,” the organization said it categorically rejects these allegations as baseless, reckless, inflammatory, and completely unsupported by any credible evidence.

Continuing, the GAFDAN Chairman said:

“It is deeply unfortunate that, at a time when the Government of Plateau State, traditional institutions, religious leaders, security agencies, and peace-building organizations are making genuine efforts to restore lasting peace across Plateau State, some individuals continue to circulate messages capable of reigniting fear, hatred, and mistrust among peaceful communities.”

He stressed that the publication did not present any verifiable facts or evidence of such incursions but instead relied on ethnic profiling by branding an entire ethnic group as terrorists solely because they are Fulani.

“Such generalizations are dangerous, unjust, and contrary to the principles of justice, fairness, and peaceful coexistence guaranteed under the Constitution of the Federal Republic of Nigeria,” he added.

Muhammad further noted that it was even more disturbing that the accusing group attempted to portray Muslims observing their constitutional right to worship as proof of criminality.

“Freedom of religion is a fundamental right enjoyed by every Nigerian irrespective of ethnicity or faith. Suggesting that Friday prayers constitute evidence of terrorism is not only misleading but also promotes religious intolerance and deepens existing divisions within society.

“GAFDAN wishes to remind the public that duly constituted security agencies should handle security matters,” he added.

He also stated that where there is credible intelligence regarding criminal activities, such information should be reported to the appropriate authorities for investigation rather than disseminated on social media in a manner that stigmatizes innocent citizens and fuels ethnic tension.

“We are concerned that repeated circulation of unverified claims against Fulani communities has contributed significantly to the culture of suspicion, collective blame, and reprisals that have claimed many innocent lives across Plateau State.

“Lasting peace cannot be achieved through propaganda, misinformation, or inflammatory narratives,” he warned.

The GAFDAN chairman called on security agencies to investigate the origin of the publication and take appropriate action against anyone found deliberately spreading false information capable of inciting violence.

He further called on community leaders, youth groups, religious leaders, and civil society organizations to discourage hate speech and promote responsible communication.

“Members of the public should verify information before sharing it and avoid publications that could undermine ongoing peace efforts. All ethnic and religious groups in Plateau State should continue embracing dialogue, mutual respect, and peaceful coexistence,” he emphasized.

Osun election: I won’t allow rigging as chief security officer – Gov Adeleke warns Tinubu

Governor Ademola Adeleke of Osun State has warned President Bola Tinubu that the people of the state will not accept any form of rigging in the upcoming governorship election.

Adeleke declared that the people of the state would go out en masse to cast their votes and would defend it to avoid rigging.

Addressing his followers yesterday during a campaign rally in a video, Adeleke said as the Chief Security Officer of the state, he is saddled with the responsibility of protecting the state.

He accused the police of being compromised, while lamenting killings in the state.

According to Adeleke: “President Tinubu, I’m passing this message to you, what do you want Osun State to do?

“We have endorsed you, what more do you want us to do? Why have we done that they are killing us? The police have been compromised, let them go and confront kidnappers.

“President Tinubu, I’m using this period to tell you, I’m the Chief Security Officer of Osun State, and I’m passing this message to you that Osun will not accept any rigging, we will go out en masse to vote and defend our votes.”

Adeleke warned Tinubu not to allow a repeat of the 1993 incident during the August 15 governorship election in the state.

“I repeat, let’s not allow what happened in 1993 to repeat itself. President Tinubu, Osun people and Accord Party has endorsed you as our presidential candidate, why are we suffering?

“Why is our money being kept? Oyetola needs to be called to order, people are just being killed, the blood of the innocent will cry out,” he added.

‘Osun is bleeding’ – Adeleke tells Tinubu not to let Oyetola set state on fire

Osun State Governor, Ademola Adeleke, has appealed to President Bola Tinubu to intervene in the rising political tension in the state.

While warning that Osun is “bleeding”, he urged the President not to allow the Minister of Marine and Blue Economy, Gboyega Oyetola, to plunge the state into violence.

Adeleke made the appeal in a statement posted on his official social media page on Monday after addressing supporters at a campaign rally in Olorunda Local Government Area of the state.

According to the governor, the loss of innocent lives linked to political violence in Osun has become a major concern, stressing that residents deserve nothing more than a peaceful and credible electoral process.

“At the campaign rally today in Olorunda Local Government Area, I appealed directly to Mr. President, Asiwaju Bola Ahmed Tinubu; Osun is bleeding, and our people will not be intimidated. His intervention is needed. The loss of innocent lives in Osun must stop. All we are asking for is simply a free and fair election,” Adeleke said.

The governor urged Tinubu to act in his capacity as the leader of the country by protecting Nigeria’s democratic values, recalling the President’s long-standing involvement in the struggle for democracy.

According to Adeleke, with the 2027 general elections drawing closer, the President should not allow his administration to be associated with actions capable of undermining the democratic process in Osun.

“Mr President must act as the father of this nation and help safeguard the democracy he fought for. I reminded the President that the 2027 general elections are also around the corner, and he should not allow his nephew, Mr. Oyetola, the Minister for Marine and Blue Economy, to ruin his name and the democracy he fought along with many others,” he stated.

The governor also warned against a return to the era of political violence, saying Nigerians, particularly those in the South-West, should never experience a repeat of the events that characterised the 1983 political crisis.

“It is our collective prayer that, as a country, we may never witness such incidents as the political violence of 1983, particularly in the South-West. Democracy works when the people freely choose their leaders, a demand that is not too much for the citizens of Osun State to make,” Adeleke added.

Adeleke maintained that the appeal was aimed at ensuring a peaceful political atmosphere and protecting the right of Osun residents to freely elect their leaders.

NEITI audit probe suffers setback as CBN, NDDC, NUPRC shun Senate hearing

The planned probe of the 2021 to 2023 audit reports on the oil and gas industry by the Nigeria Extractive Industries Transparency Initiative (NEITI) suffered a setback on Monday as key agencies shunned a Senate public hearing.

The management of the Central Bank of Nigeria (CBN), the Niger Delta Development Commission (NDDC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as well as NEITI, failed to appear before the Senate Public Accounts Committee, chaired by Senator Ibrahim Dankwabo (PDP, Gombe North).

The committee had scheduled a three-week public hearing based on audit reports presented by NEITI.

Miffed by their absence, the committee directed the management of the CBN, NDDC and NUPRC to unfailingly appear before it on Thursday, August 6, 2026.

Senator Dankwabo said failure by any of the affected agencies to honour the rescheduled appearance would attract serious sanctions as provided for in the 1999 Constitution and the Senate Standing Orders.

A member of the committee, Senator Babangida Hussaini (APC, Jigawa North West), recommended that constitutional provisions be invoked against the heads of the absentee agencies.

“I rely on Sections 47 and 60 of the 1999 Constitution, as amended, as well as relevant provisions of our Standing Rules.

“The powers of this committee are derived from these provisions. It is a distraction to the institution of the National Assembly for any agency to refuse to appear and answer audit queries that have been validly raised,” Senator Hussaini said.

“This committee is being taken for granted, and by extension, Nigerians are being taken for granted. The institutional integrity of the Senate is being undermined. Drastic measures need to be taken in line with our rules,” he added.

Another member, Senator Patrick Ndubueze (APC, Imo North), canvassed outright sanctions against the heads of the absentee agencies.

“Mr Chairman, this reflects the level of commitment of government agencies in this country. No letter was written. No excuse was offered. No representative was sent.

“To me, they don’t deserve to be given any second chance to appear,” he said.

Despite the boycott, the committee said it would proceed with the public hearing with expected appearances by the Office of the National Security Adviser (ONSA), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), and other agencies.

FG plans to end crude oil exports

Crude oilThe Federal Government is working towards ending crude oil exports as Nigeria expands its refining capacity and seeks to transform the country into a major hub for refined petroleum products in Africa.

The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Rabiu Umar, disclosed this on Monday at the 49th Nigeria Annual International Conference and Exhibition organised by the Society of Petroleum Engineers Nigeria Council in Lagos.

Umar said Nigeria’s expanding refining capacity meant the country should increasingly process its crude locally rather than export the raw commodity. He said the development of new private and modular refineries was rapidly transforming Nigeria from a crude oil exporter and importer of refined petroleum products into a regional refining hub.

“The fact that today, we have more refining capacity in Nigeria than we’ve ever had. And, of course, with the projects that are on stream and the expansions that we are also going to witness in the coming years, clearly Nigeria is going to turn into a refining hub for Africa, which means that perhaps every single molecule of our three million barrels a day production that we hope to achieve in the next couple of years will actually be refined locally.

“What that means, and I think this is a monumental shift, is a handshake between the upstream, midstream and downstream. Effectively, it’s not just exporting the raw crude, but making sure that what we actually end up exporting is the refined petroleum products. And I think this is quite substantial,” he stated.

The NMDPRA chief executive said his agency was working with the Nigerian Upstream Petroleum Regulatory Commission to enforce the domestic crude supply obligation, which he described as critical to supporting the country’s growing refining industry.

“True resilience requires operational and commercial balance. And we remain steadfast in working with our sister agency, the NUPRC, in enforcing the domestic crude supply obligation. And this is really, really important because if we have enough refining capacity, really we don’t have any reason to be exporting crude oil.

“The more of the refined products we are able to export, the more value we create because, after extraction, we’re also adding value, including in the gas and petrochemical sectors as well,” Umar stated.

He said the shift towards domestic refining would enable Nigeria to capture more value from its petroleum resources by integrating the upstream, midstream and downstream sectors. Umar also identified energy security, gas expansion and regulatory excellence as key priorities of the NMDPRA.

He said the authority was working to ensure adequate petroleum product stocks were maintained close to markets to guard against supply disruptions and price shocks.

“In addition, we are also working on ensuring that we maintain a certain level of stock in the country at any given point in time. As we’ve seen with the current global crises, we have seen how countries have had to dip into their reserves to make sure that prices don’t escalate.

“So, when we talk about energy security, it’s not just having the products on the coastline, but having the products near markets. In addition to that, we’re also working to make sure that we have stock that will have a protocol of release to make sure that prices remain fairly stable because, of course, as we know, supply and demand drive what we see in terms of pricing,” he added.

Umar said the NMDPRA was also removing bottlenecks affecting the deployment of midstream infrastructure, including pipelines, depots and strategic storage terminals.

He said the agency was working with the Nigerian National Petroleum Company Limited, in line with the Petroleum Industry Act, to rehabilitate critical infrastructure, strengthen integrity management, sustain throughput, and reduce losses and disruptions.

On regulation, Umar said the authority was seeking to make the sector more predictable for investors by reducing bureaucratic hurdles and speeding up regulatory decisions.

“On our own part, what we’re trying to do is to make sure that we move away from regulators being seen as police people. Our job is to make sure that the environment is predictable. People can predict what to expect. People can actually determine how long it will take to get a certain refining licence, for example. Because once the conditions are met, it’s like clockwork.

“Because we can’t move forward in the 21st century in terms of investment when we are having a mindset of 1960. So this is really the core of what we’re trying to achieve,” Umar explained.

The NMDPRA chief executive said Nigeria was also seeking to strengthen its position in the West African petroleum products market through the development of a regional pricing benchmark.

He said the initiative, being pursued with other West African regulators and S&P Global Commodity Insights, would help create a transparent regional market and turn Nigeria into a trading hub.

“Our idea is to see how we can actually turn Nigeria into a trading hub. Working with other West African regulators, how do we have one single standard or, if you like, specification for all the products that we consume? That way, people can move products from one region to another without constraint. Today, you hear 50 ppm, somewhere it’s 200 ppm, and all sorts of other parameters that are different,” he stated.

Umar urged stakeholders to focus on implementing existing policies and strategies rather than continuing to develop new plans.

Meanwhile, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, said collaboration remained critical to developing Nigeria’s oil and gas industry amid rapid changes in the global energy landscape.

Eyesan said geopolitical developments, climate considerations, technological disruptions, artificial intelligence, changing investment priorities and rising energy demand were redefining how countries produce, transport and consume energy.

“The theme of this year’s conference, ‘Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience,’ speaks directly to the realities confronting our industry today.”

She said the conference was more than an annual gathering, noting that discussions held at the event over the years had contributed to shaping the direction of Nigeria’s petroleum industry.

Eyesan said collaboration among government, regulators, operators, investors, service providers and professionals had helped shape reforms in the upstream sector.

Also speaking, the Chairman of the SPE Nigeria Council, Francis Nwaochie, said Nigeria’s energy future would depend not only on its natural resources but also on its ability to develop solutions to its energy challenges, strengthen institutions, attract investment and sustain collaboration.

Nwaochie said the country had abundant hydrocarbon resources, a growing gas economy, resilient indigenous operators, skilled professionals and an expanding technology ecosystem.

He stressed that recent developments, including the 2025 oil and gas licensing round, the Decade of Gas initiative and the Federal Government’s plan to settle verified arrears owed to power generation companies and gas suppliers through a N4tn government-backed bond, indicated that the industry was moving towards greater investment and stability.

Nwaochie said resilience should translate into increased production, gas commercialisation, improved ease of doing business, stronger regulatory coordination, deeper local content and increased access to long-term capital.

Airtel Africa revises share capital, voting rights

Airtel AfricaDual-listed telecommunications giant Airtel Africa plc has officially notified the Nigerian Exchange Limited and the London Stock Exchange of a shift in its total voting rights and share capital structure as of the close of business on 31 July 2026.

The regulatory disclosure on Monday reveals that the total effective voting rights denominator for shareholder reporting calculations now stands at 3,632,760,281 ordinary shares.

The update was issued in accordance with Rule 5.6.1R of the UK Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

Addressing the shift in capital and voting structure, the company stated, “The total number of voting rights that may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company… is 3,632,760,281.

According to the corporate filing signed by Group Company Secretary Simon O’Hara, the company’s issued share capital as of  31 July 2026, consisted of 3,639,696,802 ordinary shares of $0.50 per share, with each share carrying one vote.

However, the active voting power available to investors has been adjusted due to internal treasury holdings and ongoing corporate capital allocation actions. Specifically, the total issued share count includes 6,136,678 ordinary shares held in treasury, which carry zero voting rights under market regulations.

The resulting 6,936,521-share difference between total issued share capital and available voting rights stems directly from treasury shares and pending buyback cancellations.

“The difference between the issued share capital and the total number of voting rights relates to the 6,136,678 ordinary shares held in treasury and the unsettled share purchases (799,843 shares) which are yet to be cancelled in accordance with the ongoing share buyback programme of the Company as announced on 22 May 2026,” the corporate disclosure noted.

The share buyback initiative forms part of the telecommunications company’s strategy to optimise its balance sheet, manage equity structure, and return value to its shareholders. By systematically purchasing and repurchasing shares from the open market for cancellation, the company reduces the total number of circulating shares, effectively enhancing key financial metrics such as earnings per share.

Airtel Africa remains a leading provider of telecommunications and mobile money services, operating across 14 sub-Saharan African countries. The group offers an integrated footprint including mobile voice, data services, and international mobile financial solutions.

Following the capital adjustment, shareholders and institutional investors holding interests in the telecom provider must now use 3,632,760,281 as the official denominator to calculate and disclose significant shareholding changes under international transparency regulations.

Aradel finance costs surge to N326bn in H1

Aradel finance costs surge to N326bn in H1Aradel Holdings Plc has revealed that its finance costs escalated sharply to N326.14bn for the six-month period ended 30 June 2026, marking a massive surge from the N11.08bn recorded in the corresponding period of 2025.

According to the energy firm’s official financial disclosure, the steep increase was driven primarily by interest expenses on bank borrowings and obligations tied to asset expansion and decommissioning provisions.

Despite the heavy financing obligations, the group delivered a record operational performance.

The Chief Executive Officer of Aradel Holdings Plc, Adegbite Falade, noted that the company delivered a strong first-half performance.

“Revenue of N2,491.5bn and EBITDA of N1,389.2bn, with an EBITDA margin of 55.8 per cent, reflect production of 25.2 mmboe and sustained gas offtake at 503.2 mmscf/d,” Falade said.

He added that a firmer price environment supported performance, generating net cash from operating activities of N975.6bn and a closing cash balance of N1,716.6bn.

The dramatic top-line expansion was spearheaded by crude oil sales, which generated N1.98tn, while gas commercialisation and refined products contributed N512.10bn and N129.44bn, respectively.

Strong operational leverage allowed the company to comfortably absorb the elevated financing costs, as pre-tax profit quadrupled to N752.71bn, up 293 per cent year-on-year.

Aradel’s balance sheet continued to strengthen alongside its operational scaling, with total assets expanding to N10.88tn, while net cash generated from operations reached N975.61bn.

Falade previously noted that Q1 2026 marked a significant milestone as the first full quarter reflecting the earnings impact of the group’s enlarged asset base following the consolidation of NDW and its majority interest in Renaissance, setting the foundation for the group’s robust first-half performance.

FirstHoldCo hits historic N6tn market capitalisation milestone

FirstHoldCo Plc has become the first Nigerian banking group to cross the N6tn market capitalisation mark, setting a historic record for the nation’s financial sector as strong investor demand continues to fuel a sustained rally in its shares.

The financial services holding company reached the landmark during Monday’s trading session on the Nigerian Exchange Limited after its share price rose to N136.50. Based on its 45.48 billion total outstanding shares, the price appreciation pushed the group’s total market value to approximately N6.21tn.

The achievement comes less than two weeks after the financial services group first crossed the N5tn market capitalisation threshold. Sustained buying pressure on the local bourse saw investors add more than N1tn to the company’s equity value in under a fortnight.

Since the start of 2026, FirstHoldCo’s stock has surged by 184.97 per cent, with a 143.53 per cent gain recorded since the end of June alone. The performance positions the lender as one of the top-performing large-cap equities on the NGX this year.

The stock’s momentum gained significant traction following the release of the group’s half-year financial results, which showed robust top-line and bottom-line earnings growth. Market analysts attribute the rally to renewed investor optimism surrounding Nigeria’s banking sector, driven by higher net interest margins in an elevated-interest-rate environment and strong transactional volume across digital channels.

The rally also comes against the backdrop of the Central Bank of Nigeria’s ongoing recapitalisation exercise, which mandated commercial banks to upgrade their minimum capital base—N500bn for banks with international operational licences—by March 2026. Institutional investors have increasingly reallocated capital toward tier-1 lenders with strong balance sheets, robust capital adequacy ratios, and clear capitalisation strategies to meet the regulatory deadline.

For FirstHoldCo, the parent entity of First Bank of Nigeria Limited, alongside subsidiaries in merchant banking, asset management, and insurance, the valuation represents a turnaround following years of corporate governance reforms and balance sheet clean-ups aimed at resolving non-performing loans.

While crossing the N6tn threshold does not immediately alter daily operations, market watchers note that it sends a strong signal regarding shareholder expectations for future earnings and dividend payouts.

Attention will now shift to whether the group can sustain its valuation momentum in subsequent quarters, with investors closely watching its forthcoming third-quarter financial results, corporate actions, and execution of its long-term strategic plans.

The PUNCH reported that billionaire businessman Femi Otedola has increased his stake in FirstHoldCo Plc after acquiring an additional 1.77 billion shares in the financial institution through his investment vehicle, Calvados Global Services Limited.

A regulatory filing showed that the transaction, valued at N222.20bn, was executed on Thursday, 30 July 2026.

The latest acquisition raises Otedola’s shareholding in FirstHoldCo from 9.99 billion shares to 11.77 billion shares, increasing his ownership stake from 21.96 per cent to 25.88 per cent.

The purchase marks Otedola’s second major investment in the bank in July. On 22 July, he acquired 706.13 million shares valued at N77.58bn, further strengthening his position as the company’s largest shareholder.

Osun guber: Adeleke urges voters to defy intimidation

Osun State Governor, Ademola Adeleke has called on residents of the state to ignore alleged threats and intimidation ahead of the August 15 governorship election and come out in large numbers to vote.

Speaking during a church service in Osogbo on Sunday, Adeleke accused opposition figures in the state of resorting to violence after losing public support.

He expressed confidence in securing a second term, citing his administration’s achievements in workers’ welfare, healthcare, education, infrastructure and agriculture.

The governor assured residents that adequate measures were being taken to guarantee their safety during the election and urged them to vote according to their conscience.

Meanwhile, the Imole Campaign Council raised concerns over what it described as a tense political atmosphere in the state ahead of the poll.

The council alleged that dozens of Accord Party leaders and other political figures had been targeted for arrest in the run-up to the election and called on security agencies to ensure fairness and professionalism.

The council also appealed to the Inspector-General of Police, Tunji Disu, and other security chiefs to safeguard the democratic process and prevent any form of political intimidation.

Accord Party presidential candidate, Gbenga Olawepo-Hashim, urged party members in Osun to remain loyal and work for the party’s success despite recent internal disagreements.

He criticised what he described as acts of disloyalty but insisted that party supporters should stay focused on the election.

Also, the Osun State chapter of the African Action Congress (AAC) faulted the decision of some governorship candidates to boycott a televised debate, arguing that public debates are essential for accountability and democratic engagement.

On his part, APC chieftain, Olatunbosun Oyintiloye, urged the police to remain neutral and ensure a peaceful, credible and violence-free election, stressing that voters must be adequately protected before, during and after the poll.