Economy
Lawmakers Decry Lack Of Funds For Committees, Months After Inauguration
Lawmakers Decry Lack Of Funds For Committees, Months After Inauguration
Lawmakers decry lack of funds for committees, months after inauguration. Some senators on Friday raised concerns over the lack of funds, saying it is already affecting the functioning of standing committees and budget implementation,
The lawmakers raised the issue during a meeting between the senate committee on appropriations and the chairpersons of the standing committees.
Anthony Ani, senator representing Ebonyi south, said the senate committee on south east development commission has not received any funding since its inauguration.
“Mr Chairman, you have read out the timetable to be followed by the various committees for consideration of the 2026 budget, but the senate committee on South East Development Commission that I belong to does not have money to organise meetings with any agency due to zero allocation since formation and inauguration,” Ani said.
The senator said other senate committees on zonal development commissions are also yet to be funded, questioning how they are expected to function.
Supporting the complaint, Titus Zam, chairman of the senate committee on north central development commission, said the excitement that followed the creation of the commissions should not turn into disappointment.
“Lack of funding for the committees on zonal development commissions in the senate is gradually turning the excitement that heralded them into disappointment and even into lamentation,” Zam said.
Speaking on budget implementation, Oyewunmi Olalere, senate deputy minority leader, urged the Solomon Adeola-led appropriations committee to ensure revenue-generating agencies meet expectations.
“The promise on single budget implementation from April 1 this year is being threatened because parts of the capital component of the 2024 budget in terms of contract execution are not paid yet,” he said.
“Not to talk of the 30 percent capital component of the 2025 budget expected to expire by March 31.”
He said only two months remained to clear outstanding obligations for the 2024 and 2025 budgets to allow the proposed single budget implementation from April 1, 2026.
“Mr Chairman, a lot needs to be done between now and next month by your committee and critical stakeholders to prevent the continuation of multiple budget implementations,” he said.
Francis Fadaunsi, senator representing Osun east, said the 2024 budget is yet to be fully implemented.
“2024 budget debt has not been paid,” he said.
“I concur with my colleague from our state on the yet to be fully implemented 2024 budget because the affected unpaid contractors are still carrying placards around.

Senate
“This committee must reach out to critical stakeholders for the required tidying up of the 2024 and 2025 budgets before April 1, 2026.”
Adams Oshiomhole, senator representing Edo north, urged senators to wait until full details of the N58.472 trillion 2026 budget are made available.
Following Oshiomhole’s intervention, Solomon Adeola, chairman of the committee, called for an executive session and asked journalists to excuse the meeting.
During plenary on Thursday, Senate President Godswill Akpabio revealed that the Oshiomhole-led ad hoc committee to investigate the persistent derailment of Nigeria’s trains was yet to commence work due to paucity of funds.
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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