Business

Mbah Links Enugu Infrastructures Commissioned by President Tinubu To $30bn Investment Drives

You’re a good thinker, Mbah. You’re my friend. We can go places together, building Nigeria, building the future, using technology to build and promote investment.

Published

1 year ago

January 4, 2025

OCHEFA

412 Views

Enugu State Governor, Peter Mbah says that the infrastructure projects commissioned today by President Bola Tinubu are aimed at growing the state’s economy from $4.4 billion to $30 billion.

President Tinubu inaugurated the completed International Conference Centre and the state-of-the-art Command and Control Centre with 150 patrol vehicles fitted with AI-embedded surveillance cameras for the Distress Response Squad.

Tinubu also commissioned 30 of the 260 Smart Green Schools, 60 completed Type 2 Primary Health Centres, and 19-kilometer Airport-New Haven – Bisalla and Okpara Square roads built by Mbah’s administration.

“Security remains at the core of our strategy to grow Enugu’s economy from $4.4 billion to $30 billion,” said Mbah.

Governor Mbah noted that businesses can manage financial and commercial risks, but security risks are a dealbreaker.

“We are proud and grateful to have Mr President in Enugu and have him inaugurate these roads and other projects, ” said Mbah.

President Tinubu lauded Mbah for the projects, and said: “Infrastructural development is a must to attract local and foreign investment, create jobs and give all a better tomorrow from today.

“You’re a good thinker, Mbah. You’re my friend. We can go places together, building Nigeria, building the future, using technology to build and promote investment.

“It is a great honour for me and I therefore, declare these projects inaugurated,” said President Tinubu.

▪︎Written by Ocheneyi Franklin

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Naira Exchange Rates Friday, 3 July 2026

Published

7 hours ago

July 3, 2026

OCHEFA

20 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 397 Sell ₦1,405

GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865

EURO (EUR) Buy ₦1, 580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦180 Sell ₦200

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460

CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,370.15

GREAT BRITISH POUND (GBP) ₦1,832.17

EURO (EUR) ₦1,568.28

SWISS FRANC (CHF) ₦1,1705.44

JAPANESE YEN (JPN) ₦8. 51

CHINESE YUAN (CNY) ₦201. 80

WEST AFRICAN CFA (XOF) ₦2.38

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,859. 98

SAUDI RIYAL (SAR) ₦364.91

SOUTH AFRICAN RAND (ZAR) ₦84. 32

Business

Issue: Cloning Nigerian Investment Promotion Commission (NIPC)

Published

1 day ago

July 2, 2026

OCHEFA

44 Views

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.

The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.

The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.

The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.

The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.

Current status

The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.

As the case is pending before the court, the allegations remain subject to judicial determination.