Economy
Enugu Still Excluded From 13% Derivation Despite Status As Oil-Producing State Says Peter Mbah
Enugu Still Excluded From 13% Derivation Despite Status As Oil-Producing State Says Peter Mbah
Enugu still excluded from 13% derivation despite status as oil-producing state Says Peter Mbah. Peter Mbah, governor of Enugu, has urged the federal government to begin remitting the state’s share of the 13 percent oil derivation fund.
Mbah spoke on Tuesday while receiving the indices and disbursement committee of the Revenue Mobilisation, Allocation, and Fiscal Commission (RMAFC) at the state government house.
The governor said despite a December 2022 communication from RMAFC confirming Enugu’s oil-producing status, the state is yet to benefit from the derivation funds tied to three oil fields in the Anambra river basin.
“We still have this pending issue of Enugu State being recognised as an oil producing state, which your Office actually communicated to us sometime in December 2022 based on the report of the Inter-agency Technical Committee,” he said.
“The Committee came up with a recommendation that Enugu should be benefiting from the 13 per cent derivation of the Anambra River Basin 1, Anambra River Basin 2, and Anambra River 3. But we have still not benefited from those fields.
“So, it is our hope that your Office will put the necessary machinery in motion to ensure that we begin to benefit from that.”
Calling for equity, Mbah said his administration has significantly increased the state’s internally generated revenue (IGR) by more than 400 percent, using technology to widen the tax base and plug revenue leakages.
“It is our hope that your indices also would be updated to reflect that much growth in our domestic revenue,” he said.
“We hope to actually surpass that. Our IGR in our 2025 budget is over 500 billion. And from the indications, we are going to surpass that projection.”
The governor said the state ensures full remittance of revenues to local governments, and supports them with additional funds for capital projects — a gesture he described as a commitment to transparency and accountability.
In response, Ismaila Mohammed Agaka, RMAFC commissioner representing Kwara state and leader of the delegation, commended Mbah for deploying public funds to visible development projects.
“Before we came, we thought it was one of those media blitz that accompany the activities of state governors. But we have gone around,” he said.
“We have seen for ourselves the work going on. I particularly noted that illegal structures have no place again in Enugu.

Peter Mbah
“And that is the way it should be. There should be sanity and discipline in the way we do things; and we have seen evidence of that, sir.
“I am pleased to note that the Smart Schools, and the Health Centres across the 260 wards are very commendable.
“It clearly demonstrates the fact that it is clearly the government of the people by the leader of the people in the overall interest of the people.”
Agaka explained that the RMAFC team was in the state to monitor how federal allocations are disbursed to the state and its local government councils.
In 2022, Mbah, as the governorship candidate of the Peoples Democratic Party (PDP) in Enugu, said he would ensure the state produces oil if elected governor in 2023.
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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