Economy
Ex-president Obasanjo Calls For Review Of Africa’s Governance Systems
Ex-president Obasanjo Calls For Review Of Africa’s Governance Systems
Ex-president Obasanjo calls for review of Africa’s governance systems. According to him, leaders should be equipped with the knowledge needed to navigate the complexities of the global economy.
Former Nigerian President, Olusegun Obasanjo, has called for a re-examination of governance systems in Africa to achieve an African Renaissance.
Mr Obasanjo said this while speaking on the topic “African Renaissance in an Era of Turbulence: Are the Lions Still on the Move?” at the 32nd Afreximbank Annual Meetings (AAM2025) in Abuja on Thursday.
He emphasised that Africa’s progress depended on the ability of its leaders to work and move together and prioritise the continent’s interests.
Mr Obasanjo noted that the current system of Western liberal democracy, inherited from colonial powers, was not working in the best interests of the continent and needed to be interrogated and reviewed to suit Africa’s interests.
He suggested that Africa’s pre-colonial systems of governance, which emphasised communalism and collective decision-making, could provide valuable lessons for modern governance and stop corruption.
“Our system does not look at the opposition and the government. So it should be a government of everyone working together. We had it before the advent of colonisation.
“Now is the time to say that the government and opposition are not working for us, it is not even working for them either. Our system and democracy have been monetised,” he noted.
Responding to the question of whether the lions were moving, a metaphor for the continent’s most powerful and influential countries, he said they were moving but not at the desired pace.
Mr Obasanjo identified the nations to include Nigeria, Egypt, Ethiopia, the Democratic Republic of the Congo (DRC), South Africa, Kenya, Senegal, and Morocco, which possess significant economic and demographic strengths.
He highlighted Nigeria, Ethiopia, the DRC and South Africa as not being where they were supposed to be economically and politically.
According to him, the lions are not moving as they ought to, and they need to move in the way they are expected to for progress to be made.
Responding to what was needed to get the lions to move, he said leaders should be equipped with the knowledge needed to navigate the complexities of the global economy.
“How much of the world do our leaders understand? What does the world owe us as Africans?
“If we have knowledge, we will get the right policies starting from the community level to the national, sub-regional and continental level, and those policies will relate to the situation of the world we are in.”
Ex-President Obasanjo
He emphasised that Africa’s progress is possible, citing examples of success stories such as Ethiopia’s self-sufficiency in wheat production, which has yielded impressive results, with the country now exporting wheat to neighbouring countries.
Additionally, Afreximbank’s payment system, the Pan-African Payment and Settlement System (PAPSS), facilitates payment transactions across Africa to beneficiaries in their local currencies.
Another notable success story he highlighted was the African Continental Free Trade Area (AfCFTA), which provides a platform for economic integration and cooperation, promoting intra-African trade and investment.
“The message is that in areas where we have made progress, like I have said, we should keep at it.
“There are other areas that are working, we should learn from ourselves and we will get the lions to move, and when they move the cubs will follow the lions,” he said.
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.
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
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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