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Economic Rebound Ahead: Tinubu Says Tax Law Reforms Will Boost Prosperity in 2026
President Bola Tinubu has declared that 2026 marks the beginning of a more robust phase of economic growth for Nigeria, pledging to drive down inflation further, strengthen foreign reserves and sustain the country’s GDP growth trajectory.
In his New Year message to Nigerians on Thursday, the President expressed confidence in the nation’s collective resolve, saying the new year would be a more prosperous one for the country, its citizens, and all who call Nigeria home.
Tinubu argued that during 2025, his administration sustained momentum on major reforms, achieved a fiscal reset and recorded steady economic progress. Despite persistent global economic headwinds, he said, Nigeria recorded tangible and measurable gains, particularly in the economy.
“These achievements reaffirm our belief that the difficult but necessary reforms we embarked upon are moving us in the right direction with more concrete results on the horizon for the ordinary Nigerian,” he stated.
The President disclosed that Nigeria closed 2025 on a strong note, with annualised GDP growth expected to exceed four per cent for the year.
Trade surpluses were maintained and greater exchange rate stability was achieved, while inflation declined steadily to below 15 per cent, in line with his administration’s target.
“In 2026, we are determined to reduce inflation further and ensure that the benefits of reform reach every Nigerian household,” he said.
Tinubu pointed to the performance of the Nigerian Stock Exchange, which, he said, posted a robust 48.12 per cent gain in 2025, consolidating its bullish run that began in the second half of 2023.
On foreign reserves, he disclosed that sound monetary policy management had seen reserves stand at $45.4bn as of December 29, 2025, providing a substantial buffer against external shocks for the Naira. He expressed optimism that this position would strengthen further in the new year.
Foreign direct investment, the President noted, was also responding positively. In the third quarter of 2025, FDI rose to $720m, up from $90m in the preceding quarter, reflecting renewed investor confidence in Nigeria’s economic direction, which global credit rating agencies, including Moody’s, Fitch, and Standard & Poor’s, had consistently affirmed and applauded.
Tinubu recalled that he recently presented the 2026 Appropriation Bill to the National Assembly, emphasising that his administration had implemented critical reforms laying a solid foundation for long-term stability and prosperity.
“With patience, fiscal discipline, and unity of purpose, Nigeria will emerge in 2026 stronger and better positioned for sustained growth,” he said.
As inflation and interest rates moderate, the President said, his administration expected increased fiscal space for productive investment in infrastructure and human capital development.
He commended states that had aligned with the national tax harmonisation agenda by adopting harmonised tax laws to reduce the excessive burden of taxes, levies, and fees on citizens and basic consumption.
The new year, Tinubu added, marks a critical phase in implementing tax reforms designed to build a fair, competitive, and robust fiscal foundation for Nigeria.
On security, the President acknowledged that the nation continues to confront threats from criminal and terrorist elements.
He disclosed that in collaboration with international partners, including the United States, decisive actions were taken against terrorist targets in parts of the Northwest on December 24.
The Armed Forces, he said, had since sustained operations against terror networks and criminal strongholds across the Northwest and Northeast.
“In 2026, our security and intelligence agencies will deepen cooperation with regional and global partners to eliminate all threats to national security. We remain committed to protecting lives, property, and the territorial integrity of our country,” the President stated.
He reiterated his belief that a decentralised policing system with appropriate safeguards, complemented by properly regulated forest guards and anchored on accountability, was critical to effectively addressing terrorism, banditry, and related security challenges.
Tinubu also announced plans to accelerate the implementation of the Renewed Hope Ward Development Programme, aiming to bring at least 10 million Nigerians into productive economic activity by empowering at least 1,000 people in each of the 8,809 wards across the country.
Through agriculture, trade, food processing, and mining, he said, the administration would stimulate local economies and expand grassroots opportunities. Investment would also continue in modernising Nigeria’s infrastructure, including roads, power, ports, railways, airports, pipelines, healthcare, education, and agriculture to strengthen food security and improve quality of life.
The President called on all Nigerians to play their part, describing nation-building as a shared responsibility that required unity of purpose, patriotism, and service with honour and integrity.
“To achieve our objectives in 2026, we must all play our part. Nation-building is a shared responsibility.
“We must stand together in unity and purpose, uphold patriotism, and serve our country with honour and integrity in our respective roles. Let us resolve to be better citizens, better neighbours, and better stewards of our nation.
“Fellow Nigerians, I wish you all a peaceful, productive, and prosperous New Year. May God continue to bless and protect our beloved country, keep our troops safe and destroy the enemies bent on disrupting our national peace, security and stability,” he stated.
Meanwhile, governors and other political leaders across the country reflected on the trials of the outgoing year, calling for unity, resilience, and renewed commitment to governance, security, and economic recovery.
Speaker of the House of Representatives, Dr Tajudeen Abbas, urged Nigerians to remain positive and hopeful about the future.
In his New Year message released on Wednesday and signed by his Special Adviser on Media and Publicity, Musa Krishi, Abbas called on citizens to look forward to 2026 with optimism and to continue working collectively for the unity and progress of the country.
Reflecting on the outgoing year, the Speaker noted that 2025, despite its challenges, recorded commendable strides in good governance and improvements in national security, particularly with the successes achieved in the fight against terrorism and banditry.
He therefore appealed to Nigerians across all divides to strengthen national cohesion and commitment to peace-building.
“In every new dawn lies a promise,” the Speaker said, as he commended Nigerians for their patience, perseverance, and contributions towards building a stronger nation.
Niger State Governor, Mohammed Bago, in a statement by the Commissioner for Information, Obed Nana, said social pressures and security challenges tested the resilience of his government in 2025.
He, however, said the state stood firm through unity, patience, and unwavering faith in his government.
Niger State experienced major security challenges in 2025, including incidents of tanker explosions which claimed many lives, boat accidents, and terrorist abductions, particularly of schoolchildren in November.
Therefore, Bago asked residents to continue to support his administration in its efforts to deliver the New Niger Agenda, anchored on good governance, security, and economic revitalisation.
“The outgoing year tested our resilience as a people, particularly in moments of security challenges and social pressures. Yet, through unity, patience, and unwavering faith in government, Niger State stood firm.
“I sincerely thank the people of Niger State for their trust, cooperation, and steadfast support at critical moments, which greatly strengthened our collective response and progress,” he said.
Bago promised that his government remained committed to transparent communication, responsive leadership, and policies that placed the welfare of citizens at the centre of governance.
A former Kaduna State Governor and chieftain of the Peoples Democratic Party, Ahmed Makarfi, urged Nigerians to remain united and resilient in the New Year. In his message issued in Kaduna on Wednesday, he acknowledged the hardships faced by citizens over the past year but expressed optimism for a better future.
According to him, Nigerians must confront the nation’s challenges together as a united people bound by shared hopes and a promising destiny.
“As we exit the year 2025, I extend warm greetings and best wishes to all Nigerians,” Makarfi said, praying that the New Year offered “a renewed opportunity to strengthen our resolve and collectively overcome our challenges.”
Senator Adetokunbo Abiru, representing Lagos East Senatorial District, called on Nigerians to embrace unity, renewal, and collective resolve as the country enters 2026. He urged sustained support for policies aimed at economic stability, inclusive growth, and grassroots development.
In his New Year message to his constituents, Lagos State, and Nigerians at large, the lawmaker described the beginning of 2026 as an opportunity for reflection and renewed commitment to progress and prosperity.
He reaffirmed his commitment to championing policies that promote economic stability and inclusive growth, stressing that development must reach every ward, community, and household across Lagos East.
Abiru therefore urged Nigerians to continue supporting the administration of President Bola Tinubu as it implemented policies targeted at strengthening the economy, improving infrastructure, expanding opportunities, and securing a more prosperous future for citizens.
The Anglican Bishop of Owo Diocese of Ondo State, Stephen Fagbemi, called on Christians and all Nigerians to embrace peace and love in the New Year.
Tinubu projects lower inflation, stronger growth in 2026 New Year address
In a New Year message delivered through the Public Relations Officer of the diocese, Banjo Abitogun, on Wednesday, the cleric expressed optimism that the New Year would be a season of high hope and fresh opportunity for Christians with “unwavering faith in God, renewed commitment to righteous living, and genuine love for one another.”
He further prayed for Nigeria, asking God to grant the nation wise leadership, economic recovery, security of lives and property, and unity among all citizens.
For its part, the Young Progressives Party has urged Nigerians not to lose faith in the democratic process ahead of the 2027 general elections, despite widespread frustration arising from past electoral experiences.
The party made the call in its New Year message issued on Wednesday in Abuja by its National Publicity Secretary, Egbeola Martins.
Public confidence in Nigeria’s electoral process sharply declined following the 2023 general elections, which were marred by widespread complaints of technical glitches, particularly the failure of the Independent National Electoral Commission’s Result Viewing Portal to upload polling unit results in real time.
The disruptions triggered protests, legal challenges and persistent allegations of manipulation, reinforcing calls for comprehensive electoral reforms to restore trust ahead of the 2027 polls.
Martins appealed to the masses to intensify civic engagement and political participation in what he described as a decisive period for Nigeria’s democracy.
According to him, years of electoral setbacks should not translate into apathy or silence in the face of poor governance.
“Though the journey has been difficult and often discouraging, surrendering our sovereignty must never translate into docility or silence in the face of bad governance.
“The YPP calls on Nigerians not to be discouraged by the experiences of previous elections.
“Rather, citizens must mobilise like never before in this penultimate election year to reclaim their power at the ballot in 2027 and vote out incompetent, corrupt and insensitive leadership. The future of our democracy depends on active participation, not apathy,” he said.
The party further urged Nigerians to begin demanding accountability from public office holders, especially in light of fiscal reforms expected to increase government revenue.
“Nigerians must begin to ask critical questions, demand answers and closely scrutinise public spending, especially with the advent of the new tax law, which is expected to widen the tax net and significantly increase government revenue.
“Democracy thrives when citizens remain vigilant and hold leaders accountable. Increased revenue without transparency, accountability and prudence will only deepen public mistrust and hardship,” he stated.
The YPP also warned against what it described as the politicisation of anti-graft agencies, insisting that selective justice undermines democracy and weakens public institutions.
“We strongly warn against the weaponisation of the Economic and Financial Crimes Commission and other anti-corruption agencies against political opponents.
“The fight against corruption must be sincere, impartial and devoid of political bias. Selective justice weakens institutions and erodes public confidence in governance,” he said.
On the newly introduced tax law, the party maintained that Nigeria’s fiscal crisis was rooted more in poor expenditure management than revenue shortfalls.
Martins criticised what he described as extravagant spending by public officials and called for accountability before full implementation of the law.
He argued, “Nigeria’s major challenge has never been revenue generation but the reckless, wasteful and opaque expenditure of public funds.
“Nigerians are not opposed to paying taxes; rather, they are deeply concerned about the lack of transparency, probity and discipline in the management of our commonwealth.
“It is unacceptable for taxpayers’ money to be used to fund religious pilgrimages, purchase private jets and yachts, procure luxury SUVs for members of the National Assembly and sustain the looting and frivolous lifestyle of a reckless political elite.”
“We therefore call on the government to urgently resolve all discrepancies associated with the new tax law before implementation.
“More importantly, those responsible for the discrepancies must be thoroughly investigated, apprehended and punished in accordance with the law,” Martins urged.
Sokoto State Governor, Ahmed Aliyu, has assured residents that his administration will consolidate on the achievements recorded in 2025 as the state steps into the new year, with renewed focus on security, education, infrastructure and economic empowerment.
In his New Year message released to journalists in Sokoto on Wednesday, the governor said 2026 would be a year of consolidation and accelerated development, guided by his administration’s nine-point Smart Innovative Agenda.
Aliyu said his government would continue to prioritise critical sectors capable of fast-tracking socio-economic growth across the state, stressing that peace and security remain central to development.
He disclosed that the state government had developed a fresh blueprint to further support security agencies in tackling banditry, especially in the 13 local government areas affected by insecurity.
“We have already drawn up a blueprint on how to further assist security agencies in the areas of logistics, intelligence gathering and intelligence sharing,” the governor said.
He urged security agencies to intensify their operations in the new year, while calling on residents, particularly those in frontline communities, to cooperate by providing timely and credible information.
Aliyu also appealed to communities to expose individuals exhibiting suspicious behaviour or living above their means, noting that community vigilance would help dismantle informant networks aiding criminal activities in rural areas.
On education and religious development, the governor announced plans to construct new Islamiyya schools and rehabilitate those in poor condition.
He added that ongoing renovations of primary, secondary and tertiary institutions would be completed, with more furniture supplied and sustained attention given to teachers’ welfare.
In infrastructure development, Aliyu said all ongoing housing projects in Wajake, Gidan Salanke and Sokoto New City, alongside rural and township road projects, would be completed before the end of the second quarter of 2026.
The governor reaffirmed his administration’s commitment to economic empowerment programmes, including NG-CARES, Ahmadu-CARES and other initiatives targeting youths and women.
He also promised improved water supply, stating that all ongoing water projects would be completed, with additional machinery provided for major water intake facilities across the state.
In agriculture, Governor Aliyu said the government would continue to support farmers with inputs and implements, adding that contracts had already been awarded for the procurement of tractors to boost mechanised farming.
The health sector, he said, would remain a priority through the renovation of health facilities and the provision of modern medical equipment across the state.
“By the grace of Almighty Allah, we will ensure the successful actualisation of all these projects in 2026,” he assured.
Governor Aliyu thanked the people of Sokoto State for their continued support and reaffirmed his commitment to good governance, while wishing residents and Nigerians a prosperous New Year.
A former Minister of Transportation, Rotimi Amaechi, urged Nigerians to hold those in authority accountable, describing responsible and people-oriented leadership as key to addressing the country’s economic and security challenges.
In his New Year message, Amaechi, a former governor of Rivers State and Transport Minister, said 2025 tested the nation’s resilience, with many families grappling with economic hardship, rising cost of living and widespread insecurity.
He called on Nigerians to use the new year as a turning point in the quest for peace, unity, improved security, economic stability and the overall well-being of the people.
According to him, citizens must collectively demand responsible, responsive, transparent and accountable leadership.
Amaechi also called for economic reforms that would lead to job creation, poverty reduction, affordable healthcare, housing and food, as well as quality education for all Nigerians.
Harmonisation of versions begins •Red Chamber okays e-upload to IREV
The controversy over the passage of the Electoral Act (Amendment) Bill 2026 at the Senate was laid to rest yesterday.
The Red Chamber endorsed electronic transmission of election results, without including the contentious “real-time” provision.
This was shortly before it adopted the Votes and Proceedings of the passage of the Bill, which scaled third reading on February 4, during a rowdy session.
Because the version passed by the Senate did not include “real-time” transmission, unlike the version earlier passed by the House of Representatives, a conference committee of both chambers will harmonise the bills before final approval and eventual presentation for presidential assent.
The amendment of Section 60(3), effected yesterday and passed along with other sections read by Senate President Godswill Akpabio, states: “The Presiding Officer shall electronically transmit the results from each polling unit to the INEC Result Viewing Portal, and such transmission shall be done after the prescribed Form EC8A has been signed and stamped by the Presiding Officer and countersigned by the candidates or polling agents where available at the polling unit.
“But if the electronic transmission of the result fails as a result of communication failure, and it becomes impossible to transmit the result electronically, the signed and stamped Form EC8A by the Presiding Officer, and countersigned by the candidates or polling agents where available, shall in such a case be the primary source of collation and declaration of results.”
This differs slightly from the version passed by the House of Representatives in December, which states: “The Commission shall electronically transmit the results from each polling unit to the IREV portal in real time, and each transmission shall be done simultaneously with the physical collation of results.”
The House also passed Section 60(5), which provides: “The Presiding Officer shall transmit the results, including the number of accredited voters, to the next level of collation.”
The Electoral Act 2022, under which the 2023 elections were conducted and which is in the process of being repealed, states in part under Section 60(5): “The Presiding Officer shall transfer the result, including the total number of accredited voters and the result of the ballot, in a manner as prescribed by the Commission.”
Before senators began proceedings yesterday, protesters, for the second consecutive day, gathered in front of the National Assembly to call for the passage of real-time electronic transmission of election results.
Among the protesters was the former Governor of Rivers State and immediate past Minister of Transportation, Chibuike Amaechi.
The police prevented the protesters from gaining access to the National Assembly complex.
Inside the chamber, the Senate passed the Electoral Act Amendment Bill after a heated debate in a rowdy plenary session.
At the session presided over by Senate President Godswill Akpabio, senators modified their earlier position on real-time electronic transmission of poll results.
They consequently approved a revised clause mandating electronic transmission of results from polling units to the INEC Result Viewing Portal (IREV), with a fallback mechanism in the event of network failure.
In such instances, Form EC8A, on which results are recorded, would serve as the basis for collation.
The amendment, once harmonised with the House of Representatives’ version and signed into law by the President, is expected to legalise the use of IREV in the result transmission process, unlike what obtained during the 2023 elections.
There was palpable tension in the hallowed chamber as the initial proposal to adopt the Votes and Proceedings of the previous sitting led to heated procedural disputes, which were carefully managed by Akpabio.
Outside the National Assembly, protesters continued to agitate for the inclusion of the real-time electronic uploading clause, which had been upheld in the House of Representatives’ version of the bill.
The modification followed the approval of a motion by the Senate Chief Whip, Mohammed Tahir Monguno (Borno North), titled: “Motion for Rescission on Clause 60(3) of the Electoral Act, 2022 (Repeal and Enactment) Bill, 2026.”
Moving the motion, Monguno recalled that the bill had been passed by the Senate on February 4 but said “fresh issues have emerged in respect of Clause 60(3), which require further legislative consideration to ensure the conduct of smooth, transparent and credible elections in Nigeria.”
Invoking Orders 1(b) and 52(6) of the Senate Standing Orders, 2023 (as amended), he urged the chamber to rescind its earlier decision on the clause and recommit it to the Committee of the Whole for reconsideration and passage.
Trouble began when Monguno rose to move the motion while the Senate President was reading out the rules on Votes and Proceedings.
His action triggered confusion, with many senators questioning whether the Senate could revisit a decision already taken within the same legislative session.
Some senators argued that Order 1(b) empowered the Senate to suspend normal procedure.
Following a voice vote, the chamber agreed to allow Monguno to proceed.
Monguno said ambiguity surrounding the earlier amendment, particularly the controversy over the use of the words “transfer” and “transmission” of election results, had generated public concern and required urgent legislative clarification.
He proposed a fresh amendment stipulating that presiding officers at polling units must electronically transmit results to the INEC Result Viewing Portal (IREV) after completing and signing Form EC8A.
He added that where electronic transmission fails due to communication challenges, the signed and stamped Form EC8A would serve as the primary source for collation and declaration of results.
After the motion was seconded by Senator Abba Moro, who described the development as “a victory for democracy,” the chamber descended into disorder when the Senate President declared that the voice vote had carried the amendment.
Several senators protested and invoked Order 72, which allows any senator to challenge the opinion of the presiding officer by calling for a division.
Citing Order 72, Senator Enyinnaya Abaribe demanded individual voting, triggering loud protests, shouts of points of order, and repeated calls to order by Akpabio.
At the height of the confusion, Abaribe withdrew his request for a division, a move that further unsettled the chamber.
Akpabio ruled that Abaribe’s withdrawal stood, thereby upholding the voice vote that carried the amendment.
Following the approval of the revised clause, the Senate adopted the Votes and Proceedings of the previous sitting, bringing the stormy session to a close.
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To fast-track harmonisation of the Electoral Bill with the House of Representatives’ version, the Senate expanded its conference committee from nine to 12 members to match the number of conferees from the House.
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The committee is chaired by Senator Simon Bako Lalong, with Mohammed Tahir Monguno, Adamu Aliero, Orji Uzor Kalu, Abba Moro, Asuquo Ekpenyong, Aminu Iyal Abbas, Tokunbo Abiru, Adeniyi Ayodele Adegbonmire, Jibrin Isah (Echocho), Banigo Ipalibo and Onyekachi Nwebonyi as members.
Expressing optimism that the committee would conclude its work swiftly, Akpabio said: “This is a matter of urgency. If you are able to conclude within the next few days or one week, the President should be able to sign this amended Electoral Bill within this month.”
Former Vice President Atiku Abubakar, who spoke in Minna, the capital of Niger State, said electronic transmission of results would restore sanity and avert chaos.
However, he expressed doubts about the ability of the proposed law to guarantee real-time transmission.
Atiku said: “This is below the expectations of Nigerians. During the last elections, Nigerians were expecting real-time electronic transmission of election results at various levels of the election, but what we got was a mixture of electronic and manual uploading, which caused more confusion and chaos.
“It will be best if we have a single-tier electronic transmission, which is real-time electronic transmission, which is the preference of all Nigerians.”
The African Democratic Congress (ADC) stalwart urged opposition political parties to reject the Senate’s decision to allow manual uploading of election results.
He said: “We need all opposition political parties to pursue this issue. We should not allow it to rest the way they wanted it to rest today at the Senate.”
The African Democratic Party (ADP) warned of likely public distrust of the electoral process if electronic transmission is not upheld.
The party’s National Chairman, Yabagi Sani, said in a statement that “while the Senate’s reversal of its earlier rejection of electronic transmission reflects public pressure and democratic expectation, the ADP notes that a reform that does not guarantee mandatory, real-time transmission cannot restore electoral credibility.”
The ADC National Publicity Secretary, Bolaji Abdullahi, described the Senate’s modified position as a victory for the resilience, vigilance and rising political consciousness of Nigerians.
He said in a statement: “It demonstrates, in the clearest possible terms, that when citizens act with unity, clarity of purpose and resolve, they can indeed move mountains.”
The ADC credited Nigerians’ coordinated civic actions, noting: “From the street protests to the digital campaigns, the Nigerian people have once again shown that sovereignty truly belongs to them.”
Hailing the protesters, Abdullahi added: “We salute the courage and tenacity of Nigerians. We commend every citizen who raised a voice, whether online or offline, to resist legislative mischief that threatened to undermine our electoral integrity.”
A former President of the Nigerian Bar Association (NBA), Dr Olisa Agbakoba (SAN), said the adoption of real-time upload of results would engender public trust and close electoral loopholes.
He said the regulatory process must be adequately backed by law.
Agbakoba noted in a statement that the 2023 election exposed a critical gap in the electoral legal framework, recalling that despite INEC’s deployment of the IREV portal for electronic transmission of results, the Supreme Court ruled that the innovation lacked legal force.
The human rights lawyer explained that the IREV portal currently serves only for public viewing and is not admissible as evidence of results in election petitions.
He said: “The message was unmistakable: without explicit statutory provision, electronic transmission remains optional and legally inconsequential, no matter how transparent or efficient it may be.
“This legal gap creates an insurmountable evidentiary burden in election petitions.”
The Tanimu Turaki-led faction of the PDP rejected the Senate’s position on transmission of election results, describing the senators as “clever by half.”
The party’s National Publicity Secretary, Comrade Ini Ememobong, said in a statement that the addendum introduced by the Senate to allow manual transmission was a backdoor attempt to achieve the same objective as the earlier rejection.
The statement reads in part: “We have taken note of the outcome of the Senate’s reconsideration of its earlier position on the real-time electronic transmission of election results, wherein an addendum was introduced to permit manual transmission where technology is said to fail.
“We hold the firm view that this addendum is nothing more than a backdoor attempt to achieve the same objective as the earlier outright rejection, while pretending to align with the wishes of the Nigerian people.
“Manual transmission is already sufficiently provided for under the Electoral Act. The current agitation for electronic transmission is aimed at introducing a second-layer authentication mechanism that prevents the alteration of results en route to collation centres, a malpractice that has historically been the bane of Nigeria’s electoral process.
“Furthermore, it is inconceivable that the same BVAS technology, which successfully undertakes accreditation throughout an election, would suddenly become unreliable for the transmission of results and accreditation data arising from that same exercise.
“This caveat is a clear indication of the humongous fear being harboured by senators opposed to electronic transmission, particularly Senate President Godswill Akpabio, whom we reasonably suspect remains haunted by the ghost of his 2019 election loss, occasioned by the deployment of technology to curb over-voting.
“They must be reminded that Nigeria is bigger than their narrow personal and political interests.
“We therefore urge members of the Conference Committee to adopt the version of the bill passed by the House of Representatives as the harmonised position, if indeed they are committed to delivering credible elections in 2027.
“They must rise above the instincts of politicians fixated on the next election and instead focus on the sustenance of democracy and the protection of future generations.
“Should this democracy fail, the names of Senator Akpabio and all senators who voted against electronic transmission will undoubtedly occupy a conspicuous chapter in the book of infamy.
“We also call on Nigerians to remain resolute in their demand for real-time electronic transmission of election results. This is no time for excuses. This hard-won democracy is far too valuable to be left in the hands of politicians alone.”
The Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, Ojaja II, has accepted to be the Royal Father of the Day at the New Telegraph Awards Night/ Dinner holding at the Grand Ballroom of the Oriental Hotels, Lagos this Friday.
That is as veteran Elder journalist and former Governor of Ogun State, Aremo Olusegun Osoba, has also accepted to be the Chairman of the event.
The New Telegraph Awards Night/Dinner is a high octane event, where governors, captains of industry, banking and financial institutions and executives as well as public, private sector players and sports personalities would be honoured.
Nine state governors from across the country have confirmed their attendance at the event, with other awardees expressing delight and anticipation towards the event.
In a letter conveying his choice as the Royal Father of the Day, the Management of Daily Telegraph Publishing Company, publishers of the New Telegraph, Saturday and Sunday Telegraph titles informed the paramount ruler and the number one Yoruba king that his choice was borne out of his dedication to excellence and public good in his 10-year reign as the Paramount Ruler of the Yoruba Nation.
“Your Highness, it is important to let you know that you were chosen because of your position as not only the Paramount Ruler of one of the largest and homogenous nations in Nigeria, but also because of your dedication to service, excellence, reward and honesty in your over 10-year reign on the throne of your ancestors.
The letter was delivered to him personally by the Managing Director/Editor-in-Chief of the newspaper, Mr Ayodele Aminu. Similarly, Aremo Osoba, a former Editor-in-Chief of the Daily Times and Grand Patron of the Nigerian Guild of Editors, was chosen because of his close association with his profession, several years after serving as governor.
Osoba is ever present in the activities of journalists and editors, despite being a leading political figure in the country.
According to Aminu, Osoba reflects the dream of not only journalists but every profession because he did not forget his roots and easily identifies with his colleagues, no matter the gap in age and experience.
More applicants have approached the Federal High Court in Abuja over some properties linked to former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN).
The applicants prayed for the setting aside of the interim forfeiture order made against some of the property linked to the former minister.
They argued that the Economic and Financial Crimes Commission (EFCC) failed to establish any nexus between their property and any unlawful activity, contrary to Section 135 of the Evidence Act and the Advance Fee Fraud.
In their separate motions on notice filed by their lawyers, the applicants – Alhaji Muktaka Usman Junju, and Rayhaan Bustan and Agro Allied Limited – urged the court to vacate and discharge the order made on January 6 by Justice Emeka Nwite.
Junju, a businessman, through his lawyer, Kalu Kalu Agu, prayed the court to set aside the order made on property listed as Number 40 by the EFCC.
Rayhaan Limited, an agricultural food production company, through its lawyer, Joseph Daudu (SAN), also asked the court to remove property listed as numbers one, 28, 29, 30, 31, and 32 from the list of property brought by the anti-graft agency.
The duo, in their applications, also prayed the court for an order directing the immediate restoration of their possession, control, and enjoyment of the listed property from the 57 property sought to be forfeited to the Federal Government.
The News Agency of Nigeria (NAN) recalls that the property listed as number 40 in the EFCC’s schedule is Al-Afiya Energy Tanker Garage, opposite Rayhaan University Health Centre, along Sani Abacha Bypass Road, Birnin-Kebbi, valued at N2,450,000,000.00.
Property Number One is a luxury duplex at Amazon Street, Plot Number 3011 within the Cadastral Zone, A06 Maitama; File Number: An enhancement 11352, which was purchased in December 2022 at N500,000,000.00 (value after enhancement at N5,950,000,000).
Property numbers 28, 29, 30, 31 and 32, which are under Rayhaan Agro Allied Factory in Kebbi, include Factory Buildings, Factory Machines and Plants Units, Factory Mosque, Rayhaan Mill Staff Quarters and Rayhaan Bustan Building, valued at N4,200,000,000.00; N10,500,000, 000.00; N2,450,000,000.00; N1, 487,500,000.00; and N3,150,000, 000.00 respectively.
NAN reports that Justice Nwite had, on Jan. 6, ordered the interim forfeiture of the 57 property suspected to be proceeds of unlawful activities linked to Mr. Malami.
The multi-billion naira landed properties are located in Abuja, Kebbi, Kano and Kaduna States.
The judge granted the order following an ex parte motion moved by the EFCC’s lawyer, Ekele Iheanacho, SAN, to the effect.
Malami was the AGF and Minister of Justice in the Muhammadu Buhari administration.
Nwite, in the ruling, also directed the publication of the interim order of forfeiture in any national daily, inviting any person(s) or body (ies) who might have an interest in the property to show cause, within 14 days of the publication, why a final order of forfeiture to the Federal Government of Nigeria should not be made.
Although the case was formerly before Justice Nwite, the case file had been transferred by the chief judge to Justice Obiora Egwuatu of a sister court for adjudication.
Also in his motion on notice dated January 26, but filed January 28 by Agu, Junju stated that the property listed as Number 40 belonged to him.
According to Junju, the root of title and acquisition history are described in the schedule attached to the affidavit in support of the motion, as Exhibit A.
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His lawyer argued that the commission had not established that the property was proceeds of an unlawful purpose, which, he argued, robbed the court of jurisdiction.
Agu submitted that the EFCC had failed to comply with the constitutional and statutory dictates of Section 44(2) (b) of the 1999 Constitution (as amended) and Section 17(1) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, requiring it to disclose specific particulars of the alleged unlawful act committed and the applicable laws.
Besides, he said the court did not conduct a global review of the entire documents and exhibits attached to the commission’s motion ex parte filed on January 6 and granted the same date, “which constitutes an abdication of its judicial duty to properly consider the application to ensure there is a reasonable suspicion that the property was linked to unlawful activities.”
The lawyer argued that Junju duly purchased the land in question “from an original allottee, by name Alhaji Usman Na’Allah Bunza and has no link with Malami, SAN or any Al-Afiya Garage.”
“Respondent (EFCC) is guilty of fraud and non-disclosure of material facts regarding ownership and acquisition of property of the applicant (Junju) forfeited in the interim by the orders of this honourable court.
“The interim forfeiture was procured in violation of Section 5 of the Assets Tracing, Recovery and Management Regulations 2019, having not been initiated through the Office of the Attorney-General of the Federation,” Agu said.
Also in his argument, Daudu, in their motion dated Jan. 19 but filed Jan. 23, said Rayhaan Ltd, by law, is a corporate person and can acquire and own property anywhere in Nigeria.
He described Rayhaan as “a limited liability company, duly registered with the Corporate Affairs Commission (CAC) pursuant to the Companies and Allied Matters Act (CAMA).”
The senior lawyer said properties listed as Nos. 1, 28, 29, 30, 31 and 32 all belonged to the company.
“The applicant’s property Number One was acquired with payments made from Excel Merchants Ltd in favour of the applicant,” he said.
Daudu also said the property numbers 28, 29, 30, 31, and 32 were acquired by the company from banking facilities granted by NEXIM BANK, the Bank of Industry and Access Bank Plc.
“The NEXIM Bank loan has now been called in by reason of the interim order of forfeiture of January 6, 2026.
“Zenith Bank Plc, which had guaranteed the loan, has revoked the guarantee by reason of the interim order of forfeiture of January 6, 2026, and has commenced daily interest charges on the outstanding sum,” Daudu said.
The lawyer argued that the EFCC did not establish that the assets listed as numbers one, 28, 29, 30, 31, and 32, in the interim forfeiture order were proceeds of some unlawful activities, as required under Section 17 (1) of the Advance Fee Fraud Act 2006, and that no predicate offence was linked to the acquisition of the property.
He also argued that the court was not invoked and prompted to conduct a global review of the entire documents and exhibits attached to the motion ex parte, “which constitutes an abdication of its judicial duty to properly consider the application to ensure that there is a reasonable suspicion that they were linked to unlawful action.”
Daudu aligned with Agu that the EFCC “is guilty of fraud and non-disclosure of material facts regarding ownership and acquisition of properties of the applicant forfeited by the orders” of the court.
He submitted that the proceedings of January 6 amounted to unlawful deprivation of property, denial of fair hearing and abuse of court process, urging the court to set the same aside.
Malami had, equally, filed a motion, praying the court to vacate the interim order of forfeiture against his property.
Also, Justice Egwuatu has fixed February 12 for the hearing of the matter.
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