News
N3.5b debt: Court freezes Oyo govt’s accounts in 10 banks

The High Court of the Federal Capital Territory (FCT) in Abuja has issued an order to freeze the accounts of the Oyo state government in ten commercial banks across the country.
The order was issued by Justice A. O. Ebong in a ruling on a proceeding initiated by ex-council chiefs in Oyo state, sacked on May 29, 2019 by Governor Seyi Makinde, and who in 2021 got a N4,874,889,425.60 judgment against Makinde and other officials/agencies of the state.
The other officials/agencies listed with Makinde as judgment debtors, by virtue of the May 7, 2021 judgment of the Supreme Court, are the Attorney General, Commissioner for Local Government and Chieftaincy Affairs, Accountant General of Oyo State, Speaker of the House of Assembly, the House of Assembly and the Oyo State Independent Electoral Commission (OYSIEC).
The garnishee proceeding is intended by the ex-council chiefs, led by Bashorun Majeed Ajuwon, to recover the balance of N3,424,889,425.60 (N3.5b) which is outstanding from the actual judgment sum, from which Makinde paid only N1.5m in 2022.
What was outstanding in respect of the Supreme Court judgment was N3,374,889,425.60, but the Court of Appeal in Abuja added N50million, which it awarded as cost against Makinde and others in a judgment on December 8, dismissing their appeal.
The banks in which the Oyo State Government’s accounts are blocked are Zenith Bank, United Bank of Africa (UBA), Wema Bank, First Bank of Nigeria, Ecobank, Guaranty Trust Bank, Access Bank, Polaris Bank, Jaiz Bank and Union Bank.
Justice Ebong, in the ruling on a motion marked: BW/M/85/2023, ordered the garnishees (the banks) to “file affidavits and attend this court on the next adjourned date to show cause why the garnishee orders nisi hereby granted should not be made absolute.”
The judge awarded N300,000.00 as cost against the judgment debtors; ordered that a copy of the order be served on Makinde and others and adjourned till January 5 next year for hearing.
On May 7, 2021 when the Supreme Court gave judgment, voiding Makinde’s sack of elected Local Government Chairmen and Councillors in Oyo State, the apex court gave similar judgment in respect of Katsina State and ordered both states to pay the salaries and allowances of the effected ex-council chiefs.
Justice Ejembi Eko, who delivered the lead judgment in the Oyo State case, condemned the decision by Makinde to unlawfully sack the elected council chiefs before the end of their tenure.
Justice Eko said: “I will not conclude this appeal without commenting on the disturbing ugly face of impunity displayed by the Governor of Oyo State on 29th May, 2019 which is tantamounting to executive lawlessness, outrightly and vehemently condemned by this…
“Local Government Chairman and Councillors, being persons duly elected by the people cannot just be removed and their councils dissolved whimsically and arbitrarily by any other elected persons in clear abuse of their office and powers. It is not right in law and under the Constitution to do that.”
But, while the Katsina State Government has since paid its ex-council chiefs, who were unlawfully sacked, the Oyo State Government, under Makinde has failed to paid the ex-council chiefs he sacked before the end of their tenure, and which sack the Supreme Court voided in its May 7, 2021 judgment in the appeal marked: SC/CV/556/2020.
Lawyer to the ex-council chiefs, Musibau Adetunbi (SAN) had, during a hearing in the appeal filed by Makinde and others before the Court of Appeal, Abuja, told the court that some of his clients have died while others are suffering after they were unjustly sacked as elected council officials by Makinde, who he blamed for the delay in paying the judgment debt.
In a court document, the ex-council chiefs said: “As at date, we have lost 26 of our members, whose children are crying to the conscience of His Excellency (Makinde) for justice.
“Obviously, if His Excellency (Makinde) had paid our money within the six months expressly pledged by the immediate past Attorney General on his behalf, our deceased colleagues would have had little money to attend to the sicknesses that took most of them away.”
News
Kogi Enforcing Ban on Trailer Parks from October 29 – Fanwo
The decision followed credible intelligence reports that some trailer parks in the state, particularly those located at Zariagi and Osara, have become hideouts for criminal elements.

Kogi State Governor, Ahmed Usman Ododo, has announced that strict enforcement of the ban on trailer parks across the state will start effective from October 29, 2025.
Commissioner for Information and Communications, Kingsley Femi Fanwo, who disclosed this in Lokoja, said that the decision followed credible intelligence reports that some trailer parks in the state, particularly those located at Zariagi and Osara, have become hideouts for criminal elements.
He emphasised that the government cannot fold its arms while such facilities are used to compromise the security of lives and property in the state.“
The directive of His Excellency, Governor Ahmed Usman Ododo, is clear. From October 29, 2025, the state will begin full enforcement of the ban on trailer parks.
Intelligence at our disposal shows that some of these parks, especially those at Zariagi and Osara, harbor criminals who threaten the peace and security of our people.
This is a proactive and preventive measure. We have decided to move ahead of the criminals instead of lamenting after lives might have been lost.
Government will not allow that to continue,” Fanwo said.
He revealed that security agencies across the state have been strictly briefed to enforce the order without compromise, stressing that violators will face the full weight of the law.
The Commissioner further noted that the enforcement is backed by law, as Governor Ododo has already signed into law a bill banning the movement of articulated trucks during the day.
Fanwo urged operators to comply before the enforcement date and called on residents to support the government’s action, stressing that protecting lives and securing communities remain the top priority of the present administration.
International
Deported Nigerian Claims Ghanaian Officials Abandoned Him in Togo

A Nigerian man deported from the United States to Ghana has alleged that he is now stranded in Togo after Ghanaian authorities secretly transferred him and five others across the border without informing Togolese officials.
According to on Wednesday, the man, who spoke anonymously, said he was initially held at a military camp in Ghana after being deported last month along with other West African nationals. He claims Ghanaian officials promised to relocate them to better accommodation but instead covertly transported them into neighbouring Togo via a back route.
“They did not take us through the main border; they took us through the back door. They paid the police there and dropped us in Togo,” he said.
The group, which includes three Nigerians, a Liberian, and others, is now sheltering in a hotel in Lomé, the Togolese capital. None of them have valid documentation, and they are relying on hotel staff to help receive financial aid from relatives abroad.
“We’re struggling to survive in Togo without any documentation,” the man told the BBC. “None of us has family here. We’re just stuck.”
He said life in the Ghanaian military camp was “deplorable,” citing poor water, lack of medical care, and harsh conditions. After complaints to authorities, the group was told they would be moved to a hotel. Instead, they were driven to the Togo border and allegedly coerced under false pretenses.
“When we arrived [at the border], we asked what we were doing there. They told us we needed to sign some paperwork to go to a hotel. We didn’t sign anything,” he said.
The man also shared the personal toll of his deportation. “I have a house in the US where my kids live. How am I supposed to pay the mortgage? My kids can’t see me. It’s just so stressful.”
He is reportedly a member of the Yoruba Self-Determination Movement, an organisation campaigning for an independent Yoruba nation in south-west Nigeria. He fears persecution if forced to return to Nigeria and claims he had court-ordered protection in the US, which should have prevented his deportation. The US government has not publicly addressed this claim.
The deportee was part of a larger group of West Africans — including citizens of Liberia, The Gambia, and Togo — who were flown from US detention facilities to Ghana last month. Human rights lawyers representing the group have filed legal action against both the US and Ghana, citing violations of international protection and due process.
Ghanaian officials, including Foreign Minister Samuel Okudzeto Ablakwa, have defended their decision, saying Ghana accepted the deportees based on “pan-African empathy” and denied receiving any financial compensation.
However, the deal — announced by President John Mahama — has drawn criticism from opposition lawmakers, who are now calling for its suspension until it is properly reviewed and ratified by parliament. Despite the controversy, the government is reportedly preparing to receive an additional 40 deportees.
As the legal battle unfolds and diplomatic pressure mounts, the fate of the stranded deportees in Togo remains uncertain.
News
Nigeria’s 65th Independence: Tinubu’s full speech

NATIONAL BROADCAST BY HIS EXCELLENCY BOLA AHNED TINUBU, GCFR, PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA ON THE 65TH INDEPENDENCE ANNIVERSARY OF NIGERIA, OCTOBER 1, 2025
Fellow Nigerians,
Today marks the 65th anniversary of our great nation’s Independence. As we reflect on the significance of this day and our journey of nationhood since October 1, 1960, when our founding fathers accepted the instruments of self-government from colonial rule, let us remember their sacrifice, devotion, and grand dream of a strong, prosperous, and united Nigeria that will lead Africa and be the beacon of light to the rest of the world.
Our founding heroes and heroines—Herbert Macaulay, Dr Nnamdi Azikiwe, Sir Abubakar Tafawa Balewa, Chief Obafemi Awolowo, Sir Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Ladoke Akintola, Michael Okpara, Aminu Kano, Funmilayo Ransome-Kuti, and other nationalists—believed it was Nigeria’s manifest destiny to lead the entire black race as the largest black nation on earth.
For decades, the promise of our Independence has been tested by profound social, economic, and political challenges, and we have survived. While we may not have achieved all the lofty dreams of our forebearers, we have not strayed too far from them. In 65 years since our Independence, we have made tremendous progress in economic growth, social cohesion, and physical development. Our economy has experienced significant growth since 1960.
Although, it is much easier for those whose vocation is to focus solely on what ought to be, we must recognise and celebrate our significant progress. Nigerians today have access to better education and healthcare than in 1960. At Independence, Nigeria had 120 secondary schools with a student population of about 130,000. Available data indicate that, as of year 2024, there were more than 23,000 secondary schools in our country. At Independence, we had only the University of Ibadan and Yaba College of Technology as the two tertiary institutions in Nigeria. By the end of last year, there were 274 universities, 183 Polytechnics, and 236 Colleges of Education in Nigeria, comprising Federal, State, and private institutions. We have experienced a significant surge in growth across every sector of our national life since Independence – in healthcare, infrastructure, financial services, manufacturing, telecommunications, information technology, aviation and defence, among others.
Our country has experienced both the good and the bad times in its 65 years of nationhood, as is normal for every nation and its people. We fought a bitter and avoidable civil war, experienced military dictatorships, and lived through major political crises. In all these, we weathered every storm and overcame every challenge with courage, grit, and uncommon determination. While our system and ties that bind us are sometimes stretched by insidious forces opposed to our values and ways of life, we continue to strive to build a more perfect union where every Nigerian can find better accommodation and find purpose and fulfilment.
Fellow Compatriots, this is the third time I will address you on our independence anniversary since I assumed office as your President on May 29, 2023. In the last 28 months of my administration, like our founding fathers and leaders who came before me, I have committed myself irrevocably to the unfinished nation-building business.
Upon assuming office, our administration inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth. As a new administration, we faced a simple choice: continue business as usual and watch our nation drift, or embark on a courageous, fundamental reform path. We chose the path of reform. We chose the path of tomorrow over the comfort of today. Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit.
In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a rentier economy, benefiting only a tiny minority. At the same time, the masses received little or nothing from our Commonwealth. Our administration has redirected the economy towards a more inclusive path, channelling money to fund education, healthcare, national security, agriculture, and critical economic infrastructure, such as roads, power, broadband, and social investment programmes. These initiatives will generally improve Nigerians’ quality of life. As a result of the tough decisions we made, the Federal and State governments, including Local Governments, now have more resources to take care of the people at the lower level of the ladder, to address our development challenges.
Fellow Nigerians, we are racing against time. We must build the roads we need, repair the ones that have become decrepit, and construct the schools our children will attend and the hospitals that will care for our people. We have to plan for the generations that will come after us. We do not have enough electricity to power our industries and homes today, or the resources to repair our deteriorating roads, build seaports, railroads, and international airports comparable to the best in the world, because we failed to make the necessary investments decades ago. Our administration is setting things right.
I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.
Under our leadership, our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results. The second quarter 2025 Gross Domestic Product grew by 4.23%—Nigeria’s fastest pace in four years—and outpaced the 3.4 per cent projected by the International Monetary Fund. Inflation declined to 20.12% in August 2025, the lowest level in three years. The administration is working diligently to boost agricultural production and ensure food security, reducing food costs.
In the last two years of our administration, we have achieved 12 remarkable economic milestones as a result of the implementation of our sound fiscal and monetary policies:
We have attained a record-breaking increase in non-oil revenue, achieving the 2025 target by August with over N20 trillion. In September 2025 alone, we raised N3.65 trillion, 411% higher than the amount raised in May 2023.
We have restored Fiscal Health: Our debt service-to-revenue ratio has been significantly reduced from 97% to below 50%. We have paid down the infamous “Ways and Means” advances that threatened our economic stability and triggered inflation. Following the removal of the corrupt petroleum subsidy, we have freed up trillions of Naira for targeted investment in the real economy and social programmes for the most vulnerable, as well as all tiers of government.
We have a stronger foreign Reserve position than three years ago. Our external reserves increased to $42.03 billion this September—the highest since 2019.
Our tax-to-GDP ratio has risen to 13.5 per cent from less than 10 per cent. The ratio is expected to increase further when the new tax law takes effect in January. The tax law is not about increasing the burden on existing taxpayers but about expanding the base to build the Nigeria we deserve and providing tax relief to low-income earners.
We are now a Net Exporter: Nigeria has recorded a trade surplus for five consecutive quarters. We are now selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home. Nigeria’s trade surplus increased by 44.3% in Q2 2025 to ₦7.46 trillion ($4.74 billion), the largest in about three years. Goods manufactured in Nigeria and exported jumped by 173%. Non-oil exports, as a component of our export trade, now represent 48 per cent, compared to oil exports, which account for 52 per cent. This signals that we are diversifying our economy and foreign exchange sources outside oil and gas.
Oil production rebounded to 1.68 million barrels per day from barely one million in May 2023. The increase occurred due to improved security, new investments, and better stakeholder management in the Niger Delta. Furthermore, the country has made notable advancements by refining PMS domestically for the first time in four decades. It has also established itself as the continent’s leading exporter of aviation fuel.
The Naira has stabilised from the turbulence and volatility witnessed in 2023 and 2024. The gap between the official rate and the unofficial market has reduced substantially, following FX reforms and fresh capital and remittance inflows. The multiple exchange rates, which fostered corruption and arbitrage, are now part of history. Additionally, our currency rate against the dollar is no longer determined by fluctuations in crude oil prices.
Under the social investment programme to support poor households and vulnerable Nigerians, N330 billion has been disbursed to eight million households, many of whom have received either one or two out of the three tranches of the N25,000 each.
Coal mining recovered dramatically from a 22% decline in Q1 to 57.5% growth in Q2, becoming one of Nigeria’s fastest-growing sectors. The solid mineral sector is now pivotal in our economy, encouraging value-added production of minerals extracted from our soil.
The administration is expanding transport infrastructure across the country, covering rail, roads, airports, and seaports. Rail and water transport grew by over 40% and 27%, respectively. The 284-kilometre Kano-Kastina-Maradi Standard Gauge rail project and the Kaduna-Kano rail line are nearing completion. Work is progressing well on the legacy Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway. The Federal Executive Council recently approved $3 billion to complete the Eastern Rail Project.
The world is taking notice of our efforts. Sovereign credit rating agencies have upgraded their outlook for Nigeria, recognising our improved economic fundamentals. Our stock market is experiencing an unprecedented boom, rising from an all-share index of 55,000 points in May 2003 to 142,000 points as of September 26, 2025.
At its last MPC meeting, the Central Bank slashed interest rates for the first time in five years, expressing confidence in our country’s macroeconomic stability.
SECURITY:
We are working diligently to enhance national security, ensuring our economy experiences improved growth and performance. The officers and men of our armed forces and other security agencies are working tirelessly and making significant sacrifices to keep us safe. They are winning the war against terrorism, banditry and other violent crimes. We see their victories in their blood and sweat to stamp out Boko Haram Terror in North-East, IPOB/ESN terror in South East and banditry and kidnapping. We must continue to celebrate their gallantry and salute their courage on behalf of a grateful nation. Peace has returned to hundreds of our liberated communities in North-West and North-East, and thousands of our people have returned safely to their homes.
YOUTH:
I have a message for our young people. You are the future and the greatest assets of this blessed country. You must continue to dream big, innovate, and conquer more territories in your various fields of science, technology, sports, and the art and creative sector. Our administration, through policies and funding, will continue to give you wings to fly sky-high. We created NELFUND to support students with loans for their educational pursuits. Approximately 510,000 students across 36 states and the FCT have benefited from this initiative, covering 228 higher institutions. As of September 10, the total loan disbursed was N99.5 billion, while the upkeep allowance stood at N44.7 billion.
Credicorp, another initiative of our administration, has granted 153,000 Nigerians N30 billion affordable loans for vehicles, solar energy, home upgrades, digital devices, and more.
YouthCred, which I promised last June, is a reality, with tens of thousands of NYSC members now active beneficiaries of consumer credit for resettlement.
Under our Renewed Hope Agenda, we promised to build a Nigeria where every young person, regardless of background, has an equitable opportunity to access a better future—thus, the Investment in Digital and Creative Enterprises (iDICE) programme. The Bank of Industry is driving the programme, in collaboration with the African Development Bank, the French Development Agency, and the Islamic Development Bank. This initiative is at the cusp of implementation. Over the last two years, we have collaborated with our partners to launch the programme, supporting our young builders and dreamers in the technology and creative sectors.
A MESSAGE OF HOPE
Fellow Nigerians, I have always candidly acknowledged that these reforms have come with some temporary pains. The biting effects of inflation and the rising cost of living remain a significant concern to our government. However, the alternative of allowing our country to descend into economic chaos or bankruptcy was not an option. Our macro-economic progress has proven that our sacrifices have not been in vain. Together, we are laying a new foundation cast in concrete, not on quicksand.
The accurate measure of our success will not be limited to economic statistics alone, but rather in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities. Let me assure you of our administration’s determination to ensure that the resources we have saved and the stability we have built are channelled into these critical areas. Today, the governors at the state level, and the local government autonomy are yielding more developments.
Therefore, on this 65th Anniversary of Our Independence, my message is hope and a call to action. The federal government will continue to do its part to fix the plumbing in our economy. Now, we must all turn on the taps of productivity, innovation, and enterprise, just like the Ministry of Interior has done with our travel passports, by quickening the processing. In this regard, I urge the sub-national entities to join us in nation-building. Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes.
Finally, let all hands be on deck. Let us believe, once more, in the boundless potential of our great nation.
With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here.
Happy 65th Independence Anniversary, and may God continue to bless the Federal Republic of Nigeria.
Amen.
Bola Ahmed Tinubu, GCFR
President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria,
Presidential Villa,
Abuja.
-
Business2 days ago
PENGASSAN Ends Strike as Dangote Recalls Workers
-
Entertainment19 hours ago
National Theater: The Bankers’ Committee “made me eat my words – Soyinka
-
Business1 day ago
FG Spends $2.86bn on External Debts Servicing – CBN
-
International18 hours ago
Legendary conservationist, Jane Goodall, dies at 91
-
News2 days ago
Nigeria’s 65th Independence: Tinubu’s full speech
-
Business1 day ago
ECOWAS Bank okays $308.63m for Nigeria, Guinea
-
News18 hours ago
Kogi Enforcing Ban on Trailer Parks from October 29 – Fanwo
-
International2 days ago
Deported Nigerian Claims Ghanaian Officials Abandoned Him in Togo