Economy
BUA Group Rewards 510 Employees With N30bn For Long Service
BUA Group Rewards 510 Employees With N30bn For Long Service
BUA Group rewards 510 employees with N30bn for long service. BUA Group says it has disbursed N30 billion to 510 employees at its 2025 night of excellence and long service awards.
In a statement on Thursday, the company said the ceremony recognised employees for long service, loyalty, and outstanding contributions, with tenures ranging from five years to more than four decades.
“It reflected a belief that has guided the Group since inception: enduring businesses are built by people,” the statement reads.
The company said due to time constraints, only 41 recipients were able to receive their awards in person from the chairman during the ceremony.
“These represented the highest award categories, ranging from ₦100 million to ₦1 billion,” BUA Group said.
“The on stage recipients comprised sixteen recipients of ₦100 million each, nine recipients of ₦200 million each, seven recipients of ₦250 million each, three recipients of ₦500 million each, five recipients of ₦1 billion each, and one special award recipient whose cash award was not announced at the event.
“The special award was presented to Kabiru Rabiu in recognition of his exceptional loyalty, leadership, and long standing contribution to the growth and stability of the BUA Group.
“All other awardees had received their plaques and cheques ahead of the ceremony or will receive theirs at their respective plants and operational locations across the country.”
Speaking at the event, Abdul Samad Rabiu, founder and executive chairman of BUA Group, described the occasion as a moment to acknowledge loyalty, resilience, and shared ownership of the BUA journey.
Rabiu recalled that from modest beginnings 36 years ago, BUA has grown into one of Nigeria’s most valuable listed enterprises, with a combined market capitalisation now running into trillions of naira.
He noted, however, that the journey was never the achievement of one man, one board, or capital alone.

BUA Group
Rabiu said every factory built, every system strengthened, every challenge overcome, and every milestone reached bears the imprint of employees who believed in the vision long before results became visible.
He reaffirmed that BUA has always viewed its workforce as partners in a shared legacy rather than merely employees, adding that loyalty and professionalism must be rewarded in tangible ways.
Describing the cash awards as a gesture of appreciation, Rabiu noted that no amount of money can fully compensate for decades of dedication, personal sacrifice, and faith in the company’s mission.
Looking ahead, the chairman said BUA would continue to expand capacity, invest in advanced technologies, and strengthen its presence across cement, food, sugar, and infrastructure.
Rabiu added that those who built the group would continue to grow with it.
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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