Economy
British Investors To Explore Nigeria’s Mining Opportunities – FG
British Investors To Explore Nigeria’s Mining Opportunities – FG
British investors to explore Nigeria’s mining opportunities. He described Nigeria’s economic growth as crucial for global prosperity.
The minister of solid minerals development, Dele Alake, has urged British investors to explore opportunities in Nigeria’s mining sector.
Mr Alake made the call when he received the British Deputy High Commissioner to Nigeria, Jonny Baxter, on Monday in his office in Abuja.
He stated that Nigeria welcomed the UK’s support for capacity building, technical assistance, and knowledge transfer across the country’s mining value chain.
He said that President Bola Tinubu has approved the establishment of the Nigeria Solid Minerals Corporation to transform the mining sector and lay the foundation for its sustainable development.
According to the minister, the initial set up of the new corporation will be driven by the Ministry of Finance Incorporation (MOFI), with the structure modeled after the Nigeria Liquefied Natural Gas (NLNG) model.
“The Solid Minerals Corporation will be an enduring legacy. No future government will be able to exert any political interference.
“ The President has approved this, and we are looking at a 50 per cent equity stake for the private sector, 25 per cent for Nigerians, and 25 per cent for the Federal Government,” he said.
Mr Alake disclosed that in 2025, government planned to create a more competitive and internationally recognised mining sector that would play a significant role in boosting Nigeria’s economic profile.
“We are focused on improving access to mining sites through the development of intermodal transport along the mining corridor, including roads, rail, and waterways.
“ Others are Strengthening the regulatory framework, remediating abandoned mining pits for productive use, ensuring investor security and expanding exploration to generate geo-data to attract major players ,” he said.
The minister described 2025 as a pivotal year for Mr Tinubu’s administration, stating that the ongoing efforts to drive reforms across various sectors was already yielding results.

British
“We are encouraged by the support of our international partners for the difficult, but necessary reforms undertaken by this administration. We are already seeing positive trends in the economy, and prosperity is within reach,” he said.
On his part, Mr Baxter commended the federal government’s move to model the new Solid Minerals Corporation after the NLNG, and reaffirmed the UK’s continued support in strengthening Nigeria’s regulatory framework.
He described Nigeria’s economic growth as crucial for global prosperity, while assuring Mr Alake of the UK’s continued commitment to enhancing bilateral cooperation in the mining sector.
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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