Economy
World Bank Outlines 3-part Strategy For Job Creation
World Bank Outlines 3-part Strategy For Job Creation
World Bank outlines 3-part strategy for job creation. World Bank has outlined a three-part strategy focused on unlocking private-sector potential to facilitate job creation.
The World Bank Group has outlined a three-part strategy focused on improving conditions, reforming policies, and unlocking private-sector potential to facilitate job creation.
The president of the World Bank, Ajay Banga, said this on Tuesday in Washington DC, during a town-hall with civil society organisations on the sidelines of the 2025 Annual Meetings of the IMF/World Bank Group. According to him, the public sector depends on job creation over time, and how it can grow.
“Our economists can not hire the right people. They need the right conditions to start, to grow, to hire. Those conditions do not happen by accident. And that is where the World Bank Group and our friends bring something unique.
“We have a three-pillar job strategy to reflect this thinking. A lot of it is informed by a jobs council which met this morning as well,” he said.
Mr Banga said that the three pillars included governments taking the lead, often with input from the private sector, to build the human and the physical infrastructure, like roads, ports, electricity and digitisation.
He said that the public arms of the World Bank, the International Bank for Reconstruction and Development and the International Development Association, financed the investments.
He said that they helped countries to use resources effectively., adding that the World Bank establishes the rules for public-private partnerships.
“Second, an environment where businesses know the rules, and they can trust the playing field. Governments need to establish clear land rights, predictable taxes and transparent institutions. We strive to support these reforms through our knowledge bank, offering policy tools and performance-based finance,” he said.
He said that for the third pillar, once the basics were in place, the World Bank Group helped the private sector scale and reward risk-taking.
According to him, this is done by providing capital, equity, guarantees, and back-to-back financing for the settlement of investor disputes.
“That continuum, foundation, policy, and capital is how we think we can translate ambition into jobs. We have identified five sectors with the potential to create jobs that are close to where people live, meaning not relying on outsourcing jobs from the Western world as the only way to create jobs.

World Bank
”Infrastructure and energy is the first sector, both infrastructure within that energy as well. Second, agribusiness. This annual meeting is very focused on the idea of agribusiness,” he said.
He described healthcare, tourism, and value-added manufacturing growth industries, and not aid-dependent sectors.
“They generate locally relevant jobs. They attract real investment that requires the capital, the technology and the ingenuity of the private sector. That is the idea behind the private sector lab, to confront the persistent barriers that keep investors on the sidelines and design tools to help overcome them,” he said.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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