Economy
Lagos Signs MoUs With Three Investors On Waste Conversion
Lagos Signs MoUs With Three Investors On Waste Conversion
Lagos signs MoUs with three investors on waste conversion. Mr Adeshina added that the MoUs were aimed at reducing the quantum of waste in the state.
The Lagos State government has signed three separate Memoranda of Understanding (MoU) with various reputable companies to advance waste conversion.
This is contained in a statement on Sunday by the spokesperson for the Lagos State Ministry of the Environment and Water Resources, Kunle Adeshina.
Mr Adeshina added that the MoUs were aimed at reducing the quantum of waste in the state.
“The state over the weekend demonstrated its irrevocable commitment to advanced waste conversion.
“This is the 11th Lagos International Climate Change Summit, climaxed with breakout and panel sessions on thematic areas featuring experts,” Mr Adeshina said.
He said the Commissioner for the Environment and Water Resources, Tokunbo Wahab, while addressing the investors, stated that the state government was determined to convert waste to wealth.
Mr Adeshina added that the state government was determined to transition from linear waste management (pick and dump) to converting waste into wealth, which was a more sustainable approach.
He said the new MoUs represented a new vista in the state’s quest to reduce the quantity of waste that ultimately reaches the various landfill sites.
Mr Adenishina said the proposition from one of the companies, HAK Waste Ltd., was to establish a circular beverage container bottle recycling and recovery.
“This is through a deposit refund system hinged on the Extended Producer’s Responsibility mechanism (EPRM),” he said.
He added that the new proposal was an investor’s confidence in the EPRM policy of the state on waste reduction.
Mr Adeshina said that another of the MoUs would bring about the first-of-its-kind establishment of a world-class tyre collection and recycling facility for end-of-life tyres.
“Haggai Logistics Ltd.
proposes to build a first-of-its-kind tyre recycling plant. This will be responsible for processing end-of-life tyres via a fully automated waste tyre recycling factory and deployment of environmentally sound recycling technologies.
“The third of the MoU is from Mondo 4 Africa, proposing to convert non-recyclable plastic waste into sustainable fuel and other valuable resources through environmentally friendly technology,” he said.

Lagos Signs MoUs With Three Investors On Waste Conversion
He stated that the state was determined to address key issues simultaneously to facilitate proper financial intervention. state.
Speaking further on the new MoUs, Muyiwa Gbadegesin, managing director of LAWMA, said the new initiative was part of the organisation’s quest to improve the state’s environment.
Mr Gbadegesin noted that the state government or LAWMA alone cannot be saddled with the responsibility of managing the quantum of daily generated solid waste in the state.
He added that the state needed the partnership of the private sector to turn waste into a resource and wealth.
In their response, the investors expressed their appreciation and willingness to work with the Lagos government to actualise the state’s waste-to-wealth initiative.
The governor’s special adviser on environment, Rotimi Akodu; the permanent secretary, office of environmental services, Omobolaji Gaji; and the permanent secretary, office of drainage services, Mahamood Adegbite, among others.
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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