City Crime
Shettima Seeks Urgent Innovation On Nigeria’s Economic, Financial Inclusion
Vice-President Kashim Shettima yesterday emphasised the urgent need for financial innovation to drive Nigeria’s economic and financial inclusion agenda.
Shettima said that the call is in line with the commitment of the President Bola Tinubu’s administration to bringing over 30 million unbanked Nigerians into the formal financial sector.
The vice-president made the call via a video high-level policy dialogue between the Nigerian government and private sector stakeholders held in Washington DC, the United States capital.
The dialogue brought together government officials, regulators, law enforcement agencies, and fintech industry leaders at the George Washington University.
It aims to leverage innovative approaches to drive a sustainable and inclusive financial system in Nigeria.
The dialogue also focused on addressing critical challenges in Nigeria’s fintech ecosystem, including regulatory oversight, security concerns, and trust issues that have hindered the widespread adoption of innovative financial solutions.
Participants explored strategies to enhance interagency collaboration and strengthen the overall effectiveness of the financial services sector.
The vice-president highlighted Tinubu’s commitment to bringing over 30 million unbanked Nigerians into the formal financial sector in line with the administration’s Renewed Hope Agenda.
“We must develop a sustainable collaboration approach that will facilitate the adoption of inclusive payment to achieve our objective of economic and financial inclusion,” he said.
Earlier, the Deputy Chief of Staff to the President, Sen. Ibrahim Hadejia, sad the Office of the vice president gave priority to economic and financial inclusion.
Hadejia said it was expected that each agency of government would continue to play their statutory role collaboratively to achieve the set objective.
Also, Philip Ikeazor, Deputy Governor of the Central Bank of Nigeria in charge of Financial System Stability, stressed the need for ongoing collaboration among all players to achieve the objectives of the Aso Accord on Economic and Financial Inclusion.
The Director-General, National Information Technology Development Agency (NITDA), Kashifu Abdullahi, proposed “a Digital-first approach and the need to fuse Digital Literacy with Financial literacy as a means to address trust issues affecting the inclusive payment ecosystem.”
The General Manager, Moniepoint, Tosin Eniolorunda, said that addressing trust issues that have slowed down the adoption of innovative Fintech solutions for economic and financial inclusion could be addressed through public-private collaborations.
Dr Nurudeen Zauro, the Technical Advisor to the President on Economic and Financial Inclusion, explained the gathering would eventually evolve into a mechanism that would provide relevant information to the Office of the vice-president.
This, according to him, will facilitate effective decision-making for economic and financial inclusion.
The high-level engagement resulted in various recommendations covering rules, infrastructure, and coordination, with a focus on implementable actions and clear accountabilities.
Other speakers at the event included Inspector-General of Police, Mr Kayode Egbetokun; and the Executive Director of the Center for Curriculum Development and Learning (CCDL) at George Washington University, Prof. Pape Cisse.
Others are the assistant Vice-President at Merrill Lynch Wealth Management, Mr Reginald Emordi; Regional Director for Africa at the Center for International Private Enterprise (CIPE), Mr Lars Benson, among others
The National Emergency Management Agency (NEMA) has warned against the practice of scooping fuel from accidented tankers, noting it has led to the loss of many lives and property.
The agency’s Head of Operations in Ibadan, Mr Kadiri Olanrewaju, cautioned during a sensitisation programme on tanker fire accidents, held on Wednesday at Akinyele Local Government Area (LGA) of Ibadan.
The News Agency of Nigeria (NAN) reports that the programme was held in collaboration with the Oyo State Emergency Management Agency (OYSEMA) in Akinyele LGA and other stakeholders.
Olanrewaju said Akinyele LGA was selected for the awareness campaign because of its strategic location as a trailer route from the northern to the southern part of the country.
“These agencies felt that it was necessary to bring this important message to critical stakeholders in communities under the Akinyele LGA, where we have major trailer parks.
“The campaign kick-started in Ogun; we will soon move to Osun.
“The focus is to drive strong sensitisation against the scooping of fuel at the grassroots level, especially for local governments along the trailer routes to reduce needless loss of lives and property,” he said.
He charged the Federal Road Safety Corps (FRSC) and other relevant agencies to enforce the laws against underage driving and ensure the proper certification and retraining of drivers.
The Administrative Secretary of OYSEMA, Mrs Ojuolape Busari, said that Community Development Associations (CDAs) were involved in the campaign to reach a larger number of people.
Busari noted that people still scoop fuel from accidented tankers because there had not been any serious punishment attached to the offence.
She, therefore, called for stiff penalties for anyone caught perpetrating the act.
“Apart from the risk of fire outbreak that may occur during the practice, it is stealing, which is a serious offence,” she said.
Earlier, the Executive Chairman of Akinyele LGA, Hon. Akinwole Akinyele, suggested that fuel transportation should be handled through the rail system, while leaving tankers for intra-city fuel transportation.
The chairman called for an urgent review of laws and policies related to fire services and road safety to meet the urgent and modern demands.
He said that the implementation of stricter fuel transportation regulations, vehicle maintenance, drivers’ training and retraining, and safer fuel handling practices remained crucial to the fuel distribution system in Nigeria.
“The attendant costs of tanker fire accidents have been huge, both in terms of the high number of fatalities and the loss or destruction of property, environmental damage, and public infrastructure,” he said.
NAN reports that the event featured technical sessions, lectures, and presentations from the FRSC, Nigeria Security and Civil Defence Corps (NSCDC), Fire Service, traditional and market leaders, among others.
…To Confer National Honours On Select Lawmakers
President Bola Ahmed Tinubu will deliver a presidential address before a joint session of the National Assembly today as part of events marking Nigeria’s Democracy Day celebration.
The event is scheduled to be held in the House of Representatives chamber of the National Assembly Complex, Abuja.
This was confirmed in a statement released on Sunday by the spokesperson of the House of Representatives, Hon. Akin Rotimi.
The statement referenced an internal memorandum issued by the Clerk of the House, Yahaya Danzaria, officially notifying lawmakers of the proceedings.
According to the memorandum, the special joint sitting will begin at 11:00 a.m. with preliminary activities before the arrival of President Tinubu, who is expected at noon.
Democracy Day is observed annually on June 12 in remembrance of the 1993 presidential election, widely regarded as Nigeria’s most credible poll since independence.
The election was won by Chief Moshood Kashimawo Abiola but was annulled by the military government led by General Ibrahim Babangida (retd).
The theme for the 2025 celebration is “26 Years of Democracy: Renewing Our Commitment to National Development.”
President Tinubu is attending the event as the Special Guest of Honour and is expected to use the platform to reflect on the state of Nigeria’s democracy and present his administration’s vision for the future.
The session will also feature goodwill messages from former presiding officers of the National Assembly.
Meanwhile, the President will confer national honours on select legislators in what organisers describe as part of efforts to recognise contributions to democratic governance.
The National Assembly views the event as an important marker of Nigeria’s political evolution.“This joint sitting represents a significant moment in Nigeria’s democratic journey,” the statement read.
“It underscores the pivotal role of the National Assembly in safeguarding democratic values, fostering accountability, and advancing national development over the past 26 years of uninterrupted civil rule.”
Lawmakers also used the occasion to urge Nigerians to reflect on the country’s democratic progress and to renew their commitment to national unity and inclusive governance.
“The House of Representatives calls on all Nigerians to embrace the spirit of Democracy Day as a time for reflection, renewed patriotism, and commitment to building a more inclusive, prosperous, and united nation,” the statement said.
Meanwhile, the Federal Government has declared today as a public holiday, to commemorate this year’s Democracy Day celebration held every June 12.
June 12 was officially designated as Nigeria’s Democracy Day in 2018, to honour the annulled 1993 presidential election, widely considered the freest and fairest in the nation’s history and won by Chief MKO Abiola.
In a statement announcing the holiday, the Minister of Interior, Dr Olubunmi Tunji-Ojo, on behalf of the Federal Government, congratulated citizens on the occasion of 26 years of uninterrupted democratic rule in the country.
“June 12 represents our historic journey to building a nation where truth and justice reign, and peace is sustained and our future assured,” Tunji-Ojo stated.