Economy
Orji Kalu Says “If Nigeria Does Not Borrow, The Economy Will Collapse”
Orji Kalu Says “If Nigeria Does Not Borrow, The Economy Will Collapse”
Orji Kalu says “If Nigeria does not borrow, the economy will collapse”. Orji Kalu, senator representing Abia north, says the Nigerian economy is at risk of collapse if the country does not continue to borrow.
Kalu, a former governor of Abia state, spoke on Monday during an interview on Politics Today, a Channels Television programme.
“Let me tell you, if this economy does not borrow, it collapse. That’s the truth. That’s where we are,” he said.
Kalu said he is not a member of the committee that scrutinises loan requests but insisted that such borrowing is necessary for economic survival.
“Of course, the committee of foreign and local debts used to scrutinise them. I am not a member of that committee. You know these jobs are done mainly at the committee level,” he said.
Kalu sparked public reactions last week when he appeared at the senate wearing a customised outfit emblazoned with the inscription “Tinubu for President 2027”.
Reacting to criticisms about the attire, the former senate chief whip said there was nothing unusual about it.
“Who else would have made that dress other than Aba tailors? It was made in Aba, dyed in Aba and delivered in Aba,” Kalu said.
“It is only Aba people who are hardworking that can do it. It’s very fashionable and I will wear it again.” He also rejected insinuations that the outfit was for sycophancy.
“Can a man like me be sycophantic? I am not running for anything. Where am I running to? I’m only running to return to the senate,” he said.
“It’s not political sycophancy. I am a man that can’t be sycophantic. It is a uniform for 2027.
“Sure, my house manager just made it available that morning, and I wore it. I don’t see anything wrong in wearing it.
“It’s you press (media) people that saw something wrong. INEC has lifted the ban on the campaign, but we are preparing.” On whether he is the unofficial campaign manager for Tinubu, Kalu said he would gladly accept the role.
“What is wrong with that? I will be very happy to accept it and do the job for him. I don’t have anything to regret in doing the job,” he said.
Kalu said the president should not be viewed through the lens of regional politics.
“President Tinubu is not the president of the south but the candidate of Nigeria, and I am a Nigerian,” he said.
“I have always said this — every Nigerian should stop addressing himself or herself by region.
“I have asked for legislation where I suggested we remove all local government and state information on forms; people should only fill in that they are Nigerians.”
On concerns that discussing 2027 politics is insensitive, Kalu defended his party’s decision to begin early mobilisation.
“We are a political party, and there must be activities of a political party. We had a midterm assessment of our party where the whole party’s stakeholders gathered,” he said.
“I was in the senate to do my legislative job, and the journalists ran over me. It’s my dress, and I have the right to wear anything I like.
“There is freedom of association and freedom of speech. I also have the right to say what I want to say.”
Kalu also addressed criticism of his previous comments on the economy and Nigerians’ relationship with money.
“I’m not regretting what I said. I work hard for every penny,” he said. “Most rich people are waiting on these beds to take money from subsidies and sell dollars.
“These are what they have been doing. But it’s not about all Nigerians; I said most Nigerians, not all.” Kalu said his industrial contributions should not be overlooked in conversations about patriotism and job creation.
“I think about the people more than most of those attacking me. They have money, but they can’t build any industry in Nigeria,” he said.

Orji Kalu Says
“I still have about 14,000 Nigerian employees on my payroll today, and I’m building more industries to employ more.
“When I speak the truth, you know I don’t bend my words. I’m not a politician in the first instance — I just found myself doing this.” He said the president still needs more time to deliver results.
“President Tinubu needs a few more years. I think the economy will have a good sense of direction in two years, and the benefits will start coming,” he said.
“This economy has been in shambles, and it was not caused by anybody.” On Tinubu’s promise to reduce poverty, Kalu said the public must be realistic about expectations.
“There is no rocket science about it. Nigerians should be patriotic. The whole world is still feeling the effects of COVID,” 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.
-
Crime9 months agoKogi Assembly Considers Law To Regulate Rent, Establish Control Board: Tenancy Law
-
News10 months agoAtiku Reveals Why He Failed To Pick Wike As Running Mate In 2023
-
Crime12 months agoFederal High Court Jails 2 For Vandalizing Transformer, Telecom Mast In Kogi
-
Akwa Ibom1 year agoThe Apostolic Church Gets New Territorial Chairman, Exco
-
News12 months agoThe Apostolic Church Gets New National President, Executive
-
Akwa Ibom1 year agoUmo Eno Commences Payment Of 80,000 Naira Minimum Wage With Arrears
-
News11 months agoSenator Natasha Returns To Senate With Husband Amid Seat Dispute
-
Economy9 months agoKiyosaki: Is Tinubu’s Government Afraid Of Ibrahim Traore?
