Economy
President Tinubu Sets To Lift Rivers Emergency Rule, Reinstate Fubara As Governor
President Tinubu Sets To Lift Rivers Emergency Rule, Reinstate Fubara As Governor
President Tinubu sets to lift Rivers Emergency Rule, reinstate Fubara as Governor. President Bola Tinubu is set to end the emergency rule in Rivers State and reinstate Governor Siminalayi Fubara and members of the Rivers State House of Assembly before the end of July.
This follows a peace deal brokered between Fubara and his estranged political mentor, Nyesom Wike.
Presidency sources confirmed at the weekend that Tinubu reached the decision after a closed-door reconciliation meeting held Thursday night at the Presidential Villa, Abuja. In attendance were Governor Fubara, the Minister of the Federal Capital Territory (FCT), Wike, suspended Speaker Martin Amaewhule, and several lawmakers.
The Rivers political crisis reached a tipping point on March 18, 2025, when Tinubu declared a state of emergency in the state. The President suspended Governor Fubara, his deputy Ngozi Odu, and all 32 members of the State House of Assembly for an initial period of six months. The move followed months of escalating tensions between Fubara and Wike.
The crisis, which erupted in October 2023, stemmed from a power struggle over control of the state’s political machinery. The feud saw 27 pro-Wike lawmakers initiate impeachment proceedings against Fubara, accusing him of gross misconduct.
Tinubu first intervened in October 2023, convening a peace meeting at the Villa. However, the agreement reached at the time quickly unravelled, leading to renewed hostilities and eventually, the declaration of emergency rule by the president.
However, the March suspension of the elected state leadership and the appointment of retired Vice Admiral Ibok-Ete Ibas as Sole Administrator led to widespread national debate, with legal experts questioning the constitutionality of the President’s action.
Although the emergency proclamation was set to expire in September, fresh indications from Presidency sources now suggest that Fubara’s reinstatement will come earlier than expected.
“Fubara is happy with the peace brokered by the President,” one source familiar with the negotiations said. “Given the way things have progressed—Fubara and Wike were recently seen riding together and exchanging pleasantries—the deal for Fubara’s return is sealed.”
Responding to questions on the timeline for the governor’s return, a senior Presidency official stated: “At the latest, Fubara should resume as Rivers State Governor this month. Once the President returns from his visits to Saint Lucia and Brazil, he will make the formal announcement.”
Tinubu left Abuja on Saturday for official engagements in Saint Lucia, followed by attendance at the BRICS Summit scheduled for July 6–7 in Rio de Janeiro, Brazil.
Sources also disclosed that during Thursday’s meeting, Tinubu personally assured Fubara that he should “start preparing to return to office” as part of the final peace arrangement with Wike.
Speculation that Fubara’s reinstatement would be tied to his immediate resignation was dismissed by Presidency officials.
“That’s not true. No such condition was given. In every conflict resolution, there are terms, but asking Fubara to resign after being reinstated was never one of them,” the source insisted.

President Tinubu Sets To Lift Rivers Emergency Rule
However, insiders familiar with the deal confirmed that Fubara’s return to office will come with significant limitations on his powers.
The terms reportedly include a ban on any second-term ambition, surrender of control over local government administration, and a general reduction in his political influence.
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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