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Economy

Official: Imo Recorded N43bn Revenue In 2025, Surpassing Target

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Imo Governor Uzodimma Calls For Creation Of New States

Official: Imo Recorded N43bn Revenue In 2025, Surpassing Target

Official: Imo recorded N43bn revenue in 2025, surpassing target. The state revenue service boss said revenue reached an all-time high, surpassing previous records since the state’s creation.

The Imo State government says it has achieved a record-breaking Internally Generated Revenue (IGR) of N43 billion in 2025, surpassing its N42 billion target.

The executive chairman of the Imo State Internal Revenue Service (ISIRS), Justice Okoye, disclosed this at a news briefing in Owerri, the state capital, on Wednesday.

Mr Okoye, represented by the head of Human Resource Capital Management, Chinwe Jude-Ibemere, said the revenue reached an all-time high, surpassing all previous records since the creation of the state.

He said, “The state government saw monthly collections jump from N3.5 billion in January 2025 to a historic peak of over N4.5 billion by December 2025.

“The year recorded consistent month-on-month growth, demonstrating the effectiveness of policy reforms, digital platforms, taxpayers’ awareness, stakeholder engagement, and disciplined revenue enforcement.

“The total collection in 2025 was over N43 billion as against the budgeted N42 billion, which represents more than 102.3 per cent achievement as against the budgeted revenue.”

He said the success recorded in 2025 was firmly anchored on the vision of Governor Hope Uzodimma, “whose administration prioritised technology/digitisation of processes, institutional strengthening, and transparency.”
“This digital system ensured a safe, secure, and compliant tax collection and eliminated leakages and manual inefficiencies.

Imo Governor Uzodimma Calls For Creation Of New States

Governor Hope Uzodimma

“It further provided real-time monitoring and accountability, improved taxpayer confidence and voluntary compliance, premised on digital filing, payment, registration of complaints, among others,” he said.
Mr Okoye said that, for the first time in the state’s history, multiple months crossed significant revenue thresholds.

He said this culminated in a record-breaking year-end performance, with December recording the highest monthly collection ever achieved.

Mr Okoye also said the feat had set a new benchmark for revenue administration in the state.

He emphasised that the 2025 revenue achievements strengthened the state government’s capacity to fund critical infrastructure, social services, and development projects.

The ISIRS chairman assured taxpayers that the state government, in collaboration with security agencies, would continue to ensure peaceful and professional revenue enforcement.
He also disclosed that the revenue target for 2026, as approved by the state assembly, was over N281 billion, with a monthly budget estimate of N23.4 billion.

Mr Okoye said the government would further leverage its technology-based innovations to achieve the 2026 revenue target.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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Lagos Assembly

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

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.

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Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

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 Probes Man

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

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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National Bank Of Kenya

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.

National Bank Of Kenya

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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