Economy
China Reveals Plans To Establish Electric Vehicle Factories In Nigeria
China Reveals Plans To Establish Electric Vehicle Factories In Nigeria
China reveals plans to establish electric vehicle factories in Nigeria. He acknowledged the long-standing relations between Nigeria and China.
The Chinese Ambassador to Nigeria, Yu Dunhai, has revealed that plans are underway to establish electric vehicle factories and other manufacturing ventures in Nigeria.
Mr Dunhai disclosed this to the minister of solid minerals, Dele Alake, at a recent bilateral meeting.
This is contained in a statement by Mr Alake’s special assistant on media, Segun Tomori, on Sunday in Abuja.
Mr Tomori said the ambassador stressed the need for greater collaboration between China and Nigeria to unlock the potential of Nigeria’s solid minerals sector by establishing electric vehicle factories.
According to him, the ambassador expressed support for Nigeria’s local value-addition policy, pointing out that one of President Xi Jinping’s key priorities is hinged on promoting Africa’s industrialisation.
Mr Dunhai stated that the leaders of Nigeria and China agreed to elevate bilateral relations to a comprehensive strategic partnership aimed at creating new opportunities for cooperation.
He recalled that President Bola Tinubu and Mr Jinping, recently held high-level talks during Mr Tinubu’s state visit to China in pursuit of that goal.
Mr Tomori quoted him saying “Chinese companies were already deeply involved in Nigeria’s mining sector, from exploration to processing.
“We aim to deepen this collaboration, especially in line with President Tinubu’s eight priority areas, notably economic diversification through solid minerals,” the ambassador stated.
In response to concerns raised by the solid minerals minister, over the actions of a few operators tarnishing China’s image, the ambassador stated that the embassy and Chinese government had consistently advocated compliance with regulations.
He said that Chinese companies operating in Nigeria had been admonished by their government to abide by the country’s rules and regulations.
He added that the companies were also urged to implement the required corporate social responsibility initiatives and adhere to environmental and safety standards.
According to Mr Tomori, the ambassador stressed that Chinese authorities have zero tolerance for illegal mining, and are ready to partner with the Nigerian government to bring suspected culprits to justice.
On his part, Mr Alake stated that Nigeria has a large market and the potential to reduce its reliance on fossil fuels through electric vehicle production.

China Reveals Plans To Establish Electric Vehicle Factories
He acknowledged the long-standing relations between Nigeria and China, stating that most Chinese firms operated within legal and regulatory frameworks.
He, however, expressed concerns over the actions of a few operators, stating that legal actions were being taken to address such situations.
“We have taken action against illegal operators, including some Chinese nationals. While isolated, such incidents undermine the good work of many compliant Chinese firms.
” We need your cooperation in ensuring that such culprits are brought to justice.”
The minister reiterated that Nigeria is open to business to serious investors, stating that investments in the nation’s mining industry remained focused on local value addition.
“We now prioritise local processing to drive Nigeria’s development. For instance, with the abundance of lithium, we want to see local manufacturing of electric vehicles and batteries,” 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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