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Investors commend Nigeria’s financial sector reforms at London Africa Capital Forum

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As President Bola Tinubu continues his state visit to the United Kingdom, potential investors have commended the reforms embarked upon by the federal government in the financial sector, describing the reforms as credible.

The investors expressed their view at the Africa Capital Forum that had the theme: “From Stabilisation to Capital Mobilisation,” jointly hosted by the Central Bank of Nigeria (CBN) and the UK Foreign, Commonwealth and Development Office (FCDO), at The Peninsula London,

Speaking at the high-level forum, which brought together global investors, development financiers, and fintech innovators for a strategic dialogue to deepen Nigeria’s financial resilience and investor confidence, the British Deputy High Commissioner to Nigeria, Mr. Jonny Baxter, said the United Kingdom remains one of Nigeria’s partners with links in banking and capital markets.

“The next phase of the reforms should be converting renewed investor interest into long-term sustainable investments,” Baxter said, adding that the UK will also support economic transformation to enhance the economic relationship between the two countries.

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Also, the President of the European Bank for Reconstruction and Development (EBRD), Madame Odile Renaud-Basso, praised the potential of the Nigerian economy, noting that “we see all the potential in the economic stabilisation in Nigeria, the growth of the population, the appetite, the investment of new technologies, and the ability of the people to embrace the new technologies.”

The Head of West and Central Africa, UKEF, Steve Gray, in his contribution, noted that confidence is built through full fiscal transparency.

He said the reforms in Nigeria are providing transparency and building confidence, but added: “I want to see more reflection of the reality of Nigeria’s strengths so that more can be done to support Nigeria’s priorities,”

Similarly, the Managing Director (Policy Strategy and Delivery) of the European Bank for Reconstruction and Development (EBRD), Melis Ekmen Tabojer, said: “The recent reforms that Nigeria has had have had a huge impact in attracting investors.”

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Mrs. Sanyade, Okoli, Special Adviser to the Tinubu on Finance and the Economy, who represented the Minister of Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, at the event, said the federal government seeks to drive the right quality of growth, but noted that the government alone cannot fund this growth.

“We need to work with partners who will bring the sticky, equity capital,” she noted.

Key sessions of the forum featuring the CBN Deputy Governor, Muhammad Abdullahi (Economic Policy) and Mr. Philip Ikeazor (Financial System Stability), among other experts, examined repricing risks and the reopening of capital markets, Nigerian banks’ presence on the global stage, fintech and the future of remittances, highlighting the rise of digital platforms, as well as regulation, risk, and resilience.

The CBN Deputy Governor (Economic Policy), Muhammad Abdullahi, emphasised the level of stability achieved by the apex bank, noting that net and gross reserves are high, Nigeria’s foreign reserves are over $50 billion, the foreign exchange market has stabilised, while inflation is falling.

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Also speaking, the apex bank’s Deputy Governor in charge of Financial System Stability, Mr Philip Ikeazor, said that all the reforms that have been put in place are such that they cut across stakeholders, ensuring that even at the end of the Tinubu administration, “people will see the need not to reverse these reforms.”

In their respective interventions, Segun Alebiosu (MD/CEO of First Bank); Oliver Alawuba (MD/CEO of the United Bank for Africa (UBA); Miriam Olusanya (MD/CEO of GTCO); Yemisi Edun (MD/CEO of First City Monument Bank); Roosevelt Ogbonna (MD/CEO of Access Bank); and Akin Oguranti, the Executive Director of Zenith Bank, who represented the banks, all commended the banking reforms in Nigeria, noting that the reforms have increased confidence in the economy and allow the banks to fund more projects locally.

Over the past two years, the Tinubu administration has undertaken significant monetary and structural reforms aimed at stabilising Nigeria’s macroeconomic environment.

Under the leadership of the CBN Governor, Olayemi Cardoso, inflation has dropped sharply from 34 percent to 15 percent, exchange rate volatility has eased, and foreign reserves have risen above US $50 billion.

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Also, banking recapitalisation and foreign exchange market unification have further strengthened trust in policy consistency.

The forum assessed the impact of these reforms and highlighted new opportunities for long-term capital mobilisation and diaspora investment.

Framed around three pillars (Nigeria’s macroeconomic reset, strengthening the financial system, and mobilising global and diaspora capital), the Africa Capital Forum seeks to build stronger bridges between Nigeria, London, and the global financial community.

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Photos: Appellate Court Advocacy Demands Precision, Discipline — Wike

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Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike, on Tuesday, stressed the need for discipline, precision and sound legal reasoning in appellate advocacy, describing appellate practice as a critical pillar for strengthening Nigeria’s justice system.

Wike stated this at the public presentation of the book, “Ukala’s Manual on Appellate Practice,” authored by Senior Advocate of Nigeria (SAN), Emmanuel C. Ukala, held at the Bola Ahmed Tinubu International Conference Centre, Abuja.

The former Rivers State governor described the publication as a timely and significant contribution to the legal profession, particularly for young lawyers seeking to develop competence in appellate litigation.

According to him, advocacy at the appellate level differs fundamentally from trial proceedings and requires a higher level of intellectual discipline and mastery of legal procedures.

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“We are all aware that advocacy at the appellate level is of a fundamentally different character from proceedings at trial. It calls for a higher degree of discipline, clarity of thought, precision in expression, and a deep, assured command of both substantive law and procedural rules,” Wike said.

He noted that the manual would serve as a practical guide for lawyers and judges by bridging the gap between legal theory and courtroom practice.

“It serves as a vital bridge between legal theory and courtroom practice, offering guidance that is especially beneficial to younger members of the Bar as they develop the confidence and competence required to navigate the demands of appellate litigation,” he added.

Wike, who recalled his background in legal practice, said he personally appreciated the value of appellate adjudication, having prosecuted and defended several cases before appellate courts over the years.

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“I myself am a direct beneficiary of the work done at the appellate level, having had the privilege, as a party in numerous disputes, to prosecute and defend many cases before appellate courts,” he stated.

The minister also revealed that he once worked briefly in Ukala’s law firm, noting that the experience shaped his professional values and appreciation for excellence in legal advocacy.

“I cut my teeth in the firm of Mr. Ukala, SAN, albeit for a relatively short time. The exposure and values I imbibed during that period discipline, attention to detail, respect for the craft of advocacy, and an unwavering commitment to excellence have continued to shape my professional outlook to this day,” he said.

Wike described the publication as a “legacy work” that would remain relevant to legal practitioners and judicial officers for years to come.

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According to him, the book does not merely seek to impress readers academically but provides practical guidance on critical aspects of appellate litigation, including notices of appeal, compilation of records, interlocutory applications, briefs of argument, and oral advocacy.

“What I particularly appreciate about this manual is its practicality. It does not attempt to impress; it seeks to guide. It brings clarity to areas that many practitioners struggle with but rarely admit,” he said.

The FCT minister urged young lawyers to make effective use of the book in refining their professional skills and pursuit of excellence.

“To my colleagues, especially the younger lawyers, do not just celebrate this book, use it. Let it challenge you. Let it refine you. Let it remind you that excellence in this profession is a deliberate pursuit,” he added.

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The event was attended by high-ranking judicial officers, including the President, National Industrial Court, Hon. Justice Benedict Bakwaph Kanyip, other heads of court, former Attorney General of the Federation and Minister of Justice, Chief Kanu Agabi, Justices of the Supreme Court, Justices of the Court of Appeal, Senior Advocates of Nigeria, members of the Body of Benchers, legal practitioners and other dignitaries from across the country, while Joseph B. Daudu (SAN) and Ferdinand O. Orbih (SAN), reviewed the book.

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2027: My opponents are arming terrorists against me — Tinubu

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President Bola Tinubu has declared his intention to seek re-election in 2027, saying critics exploiting the country’s security challenges were doing the bidding of his political opponents.

Tinubu made the remarks while receiving Plateau State Governor Caleb Mutfwang and other stakeholders from the state, telling them that hostile forces were weaponising insecurity to undermine his administration.

“You are playing to the hand of agents, including my own enemies, who want to use insecurity to get rid of me,” he said, adding that he would not be deterred.

“I’m a very stubborn politician. I just refuse to go. And I will campaign for my second term.”

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The declaration comes amid sustained pressure on the Federal Government over attacks by armed groups, kidnappings, and killings across several states, with opposition figures and civil society organisations demanding stronger federal action.

NDLEA raids 3 illicit drug warehouses, recovers N16.9bn worth of opioids

Tinubu has consistently defended his administration’s security record, maintaining that agencies are being adequately supported to restore stability.

The President took office in May 2023 and is constitutionally eligible to seek a second four-year term when Nigerians go to the polls in 2027.

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Lawmakers Move To Establish Military Strategy Hub

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…proposal aim to strengthen coordination and innovation across the Armed Forces

By Gloria Ikibah

The House of Representatives has passed for second reading a proposal to set up a Joint Doctrine and Warfare Centre, envisioned as a high-level strategic hub to improve coordination, efficiency and overall performance within Nigeria’s Armed Forces.

The bill, sponsored by the Speaker, Tajudeen Abbas, is titled “A Bill for an Act to Establish the Joint Doctrine and Warfare Centre to Enhance the Coordination and Effectiveness of Military Operations of the Armed Forces of Nigeria by Integrating the Capabilities of Its Respective Services; and for Related Matters (HB 2741).”

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It progressed to the next stage following debate by lawmakers on Wednesday during plenary.

The planned centre is intended to serve as a focal point for defence research, development of military doctrine, strategic planning and innovation in warfare, with particular attention on fostering closer collaboration among military and paramilitary bodies.

Commencing debate on the general principles of the legislation on behalf of the Speaker, Rep. Daniel Asama said, “the initiative is designed to bridge critical gaps in Nigeria’s defence framework, particularly the lack of a dedicated institution for developing and coordinating joint military doctrines.”

“The centre would establish a structured system for the formulation, validation and dissemination of joint doctrines, while also promoting interdisciplinary research on multi-domain operations”.

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Asama further observed that Nigeria’s increasingly complex security landscape demands a more integrated and strategic military response.

“Nigeria faces complex security challenges, including terrorism, insurgency and cyber warfare, which require coordinated doctrinal responses among the Armed Forces.

“The absence of a dedicated institution for joint doctrine development has created operational gaps and limited interoperability among the services”, he said.

According to him, the proposed centre will serve as both a think-tank and a centre of excellence for doctrine formulation and warfare strategy.

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“This bill provides the legal and institutional framework for the Joint Doctrine and Warfare Centre as a think-tank and centre of excellence for doctrine development and warfare strategy.

“It addresses the need for integrated doctrine development, unified command thinking and joint operational planning”, he added.

He described the bill as timely, the lawmaker said it would strengthen Nigeria’s capacity to respond to evolving threats while enhancing cooperation among the Army, Navy and Air Force.

He explained that the proposed centre would provide a standing platform for defence research, simulation exercises and policy coordination, with the aim of strengthening the long-term sustainability of the country’s security efforts.

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The institution is expected to draw together major players in the security architecture, including the Ministers of Defence, service chiefs and specialists from the private sector.

Its responsibilities would cover aligning warfare strategies, monitoring emerging threats, reviewing operational requirements and offering strategic guidance for defence activities.

The centre would also work closely with defence institutions, universities, international allies and research organisations to advance joint doctrine development, simulation tools and contemporary warfare practices.

Among its core aims are improving Nigeria’s capacity to respond to hybrid and asymmetric threats, enhancing cooperation among the armed services, promoting defence research and expanding both regional and global security partnerships.

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Asama expressed optimism that the proposal would markedly strengthen the nation’s military preparedness and strategic depth.

“The Joint Doctrine and Warfare Centre will serve as the intellectual and operational hub for defence coordination, doctrine formulation and integrated warfare planning,” he said.

Following its passage for second reading, the bill was referred to the House Committee on Defence for further legislative consideration.

When passed into law, the piece of legislation is expected to provide a solid institutional framework for advancing joint military operations and improving Nigeria’s response to current and emerging security challenges.

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