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WEEK FUNSO OWOYEMI LOCKED DOWN LAGOS FOR WIFE, DAUGHTER

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By Tunde Olusunle

Thursday January 11, 2024, all roads led to the Holy Trinity Anglican Church, Ikate, Surulere, Lagos, for the formal admission of Otunba Funso Davies Owoyemi, Fellow of the Chartered Institute of Accountants, (FCA), into the septuagenarian rungs. Those who know *FDO* as acronymed from the initials of his names, know him for his social unobtrusiveness and reticence.

This is despite his humongous achievements as an astute professional, conscientious husband, consummate parent, devoted community leader and revered elder statesman. Turning 70 in our kind of environment with its many viccissitudes was worth giving thanks to God and inviting friends and family to join the celebration which was just what Otunba Owoyemi did on that occasion.

Nearly two years later very recently, there was compelling need for a double-barreled encore in Owoyemi’s family. It was the occasion of the engagement of one of his six delectable daughters, Oluwasolape, to her hearthrob, Precious Adeniran, on one hand, and the 70th birthday of his beloved wife, Mrs Rita Abeke Owoyemi, his inseparable partner of five decades. Beginning from Thursday October 30, 2025, therefore, Otunba Funso Owoyemi was going to lock down Lagos for the following half a week to commemorate both landmarks. And from Lagos and beyond, family, friends, associates and acquaintances rallied steadily behind the Owoyemis as they celebrated their own.

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The highbrow *Rosetree Event Centre,* Oniru, Victoria Island, Lagos, hosted the engagement ceremony of Oluwasolape and Precious. Expectedly, it had the orderly, organised imprimatur of *FDO,* classy without being exhibitionist, the best of Nigerian culture on display as the two youngsters pledged their futures to each other before the world. Lagosians continue to raise the bar of ceremonial sophistry though, ever giving their upcountry guests novelties to think about. Fulfilment was writ large on the faces of the older Owoyemis who have devoted a considerable segment of their more recent years joyfully oversighting the lateral flourish of their family, with the addition of more and more grandchildren.

Sunday November 2, 2025, the Holy Trinity Anglican Church, Ikate, Surulere, was the venue of the 70th birthday thanksgiving of the Owoyemi matriarch, Chief (Mrs) Rita Abeke Owoyemi. It was a packed Sunday service which coincided with the annual “Adult Harvest” of the church, which was going to keep guests and parishioners in church for a long duration. The Rt. Rev. Akinpelu Johnson the Vicar and Archdeacon, led the proceedings. The excitement of celebrating with the Owoyemi family, despite Lagos’ typically unpredictable rain descent, however, overshadowed every proclivity to boredom and restlessness. Guests proceeded to *The Podium Events Centre,* Lekki, Lagos for the post-thanksgiving reception thereafter.

The socials were a celebration of the finest aspects of Nigeria’s cultures. Otunba Owoyemi’s kinsmen from Yagbaland in the Okun hemisphere in Kogi State, matched their in-laws from Owo in Ondo State with costume, dance and displays. It was a most befitting tribute to the life and multitasking career of a wife, mother, grandmother, sister and aunt, who worked her way to Nigeria’s exchequer, the Central Bank of Nigeria, (CBN), from humble beginnings. Starting out in Secretarial Studies, Mrs Owoyemi with the unflinching support of her redoubtable husband would go on to become a public administrator in her own right. She trained at the Crown Secretarial College and the Pitman’s College, both in London, where she earned a Diploma and a Higher Diploma in Secretarial Studies.

Within the same period, her husband, Otunba Owoyemi earned his badges as a charterered accountant and management professional. The couple wedded in London Borough of Hackney in 1979 and welcomed their first child, Olumuyiwa, one of their two sons, before returning to Nigeria during the regime of President Shehu Usman Shagari in 1980. Mrs Owoyemi began a lifelong career in the CBN in 1981 and grossed three and half eventful decades in service before her retirement at 60 in 2015. She has since redoubled her focus on mentoring and supporting not just her children and their offsprings, but siblings, relatives and adopted children, while also supporting her husband as they both age gracefully together.

Mrs Owoyemi’s commemoration was a harvest of testimonies from a broad spectrum of people and publics she encountered and impacted in a most eventful life. Siblings, childhood peers, schoolmates, colleagues, members of church, voluntary and social organisations, stepped forward to speak so glowingly and eloquently about a rare breed who has lived her life principally for others. The second child of her nuclear family, fate thrust leadership upon her when she lost her older sibling and she had to fill in spontaneously as *Numero Uno* in the family and pathfinder, a role she has played so very ably and gracefully.

The Owoyemis had very good company at the twin ceremonies. Former Ministers in the administration of former President Olusegun Obasanjo, GCFR at the programme, included Chief and Justice (Mrs) Bayo Ojo, SAN, CON, and Asiwaju and Chief (Mrs) Kola Jamodu, CFR. Prince Olusola Akanmode, Chief of Staff to former Vice President Atiku Abubakar, GCON; Arc Yomi Awoniyi, FNIA, former Deputy Governor of Kogi State; Aremo (Dr) and Chief (Mrs) Yemi Ogunbiyi, former Managing Director of Daily Times of Nigeria Plc, and Senator Musiliu Obanikoro. Rear Admiral Okanlawon Oni, (rtd); AIG Tunji Caulcrick, (rtd); Brigadier-General Benjamin Ipinyomi, (rtd); Ambassador Kayode Shinkaiye; Chief (Mrs) Florence Omotehinwa; Justice Suyi Olateru-Olagbegi and Justice and Mrs Adeniyi Ademola, (rtd), equally added colour to the event.

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Mr Eniola Bello, Managing Director of Thisday Newspapers; Mr and Mrs Akin Opeodu, FCA; Mr and Mrs Kunle Owuye; Dr Kola Ibirogba; Otunba Sam Olu Owa; Chief Kunle David; Chief and Mrs Korede Adedayo; Chief Tosin Atewologun; Chief Jide Oni as well as Mr and Mrs Bayo Ibirogba, honoured the milestone. Chief Kayode Soyombo; High Chief Tobi Oduyale; Chief Sanmi Fabode, FCA; Hon Deinde Abolarin; Mr and Mrs Iyiola Oyefeso; Otunba and Mrs Babs Alatise; Engr and Mrs Owa Adewale; Captain and Mrs Ade Olopoenia; Mr and Mrs Uwa Ehanire; Elder Tunde Alogbo and Chief Tunde Odunewu, all kept faith with the Owoyemis. Not forgetting Members of “Klub D’Aspirers” and the “Long Table” respectively.

It was indeed a fitting and memorable week of landmarks which the family of Otunba Funso Davies Owoyemi, FCA, will savour and treasure for decades to come.

*Tunde Olusunle, PhD, Fellow of the Association of Nigerian Authors, (FANA), is an Adjunct Professor of Creative Writing at the University of Abuja*

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Opinion

Underserved connectivity and the government’s 4,000 Towers initiative

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By Sonny Aragba-Akpore

Worried by the growing insecurity in the country and poor connectivity in underserved communities, the Federal Executive Council (FEC) recently approved 4,000 Towers to boost communications. Although details of the implementation and distribution of the 4,000 towers were sketchy, the Information and National Orientation Minister, Mr Mohammed Idris, said the FEC approved the 4,000 towers to boost connectivity and security across the nation.
Announcing the decision, Idris said, “The Federal Executive Council took a decision that 4,000 of such towers be established or erected in these very underserved communities across this country. “Indeed, this will also help in fighting insecurity and enhancing commerce and economic activity amongst the people of those communities,” Idris explained that the programme, 4,000 towers will be erected in underserved communities to boost public communications.
He said the decision followed

“A presentation of the Minister of Communications and Digital Economy, Mr Bosun Tijani, indicating that no fewer than 23 million Nigerians are currently underserved, meaning that they are unable to do any form of communication due to the absence of some of these towers. “The rollout is expected to significantly improve rural connectivity, stimulate commerce and enhance security surveillance in areas currently lacking network coverage.” Beautiful as the initiative seems, the Minister did not mention how much will be involved in the project and under which conditions and procedures will be followed to execute the project implementation.
Apart from the infrastructure interventions of the Universal Service Provision Fund (USPF) an organ of telecommunications regulator, the Nigerian Communications Commission (NCC) that erects BTS and towers to boost connectivity in black spots and underserved areas, it is not clear how FEC intends to proceed with the erection of these towers to happen more so since no budget provision was announced in that regard. Building a tower is not a tea party, as huge expenditure goes into actualising one. Besides the capital outlay on erecting towers, such towers don’t come cheaply. Other costs follow, including security and the hydra-headed Right of Way fees charged by state and local council governments. Mobile Network Operators (MNOs) have had to contend with multiple taxes to sustain and maintain the towers that accommodate the Base Transceiver Stations (BTS).
Will the government build the towers in collaboration with network providers? So many questions are hanging as no details of the implementation are available as we write this. Yes, if actualised, communication will improve, but the process of delivering this remains unknown.
The NCC data show that the number of base stations deployed by mobile network operators since 2001, when Global System of Mobile Communications (GSM) began, stood at 137,992 by end-of-2023.
But industry-analysis sources claim that by 2024 (or very recently), the total may have reached ~145,141 base stations nationwide.
The breakdown of recent data (2022–2025) on BTS/towers indicates that approximate distribution by operator / tower-company, and what is (and isn’t) publicly available. However, as of December 2022, the total BTS across Nigeria were 127,294. By end-2023, the total BTS rose to 137,992.
And by December 2024, the total number of base stations reported was 145,141.
Also, by end-2024, there were roughly 39,880 telecom towers in Nigeria (that is, physical mast/tower structures), reflecting both “macro towers” and collocated sites, including infrastructure-sharing arrangements.
The 4,000 towers being proposed will increase the number to about 44,000.
Sensing the high cost of building base stations and maintenance of the same, many mobile network operators (MNOs) lease rather than own the physical tower infrastructure. Thus, there is now a separation between “base stations/BTS” (active radio equipment) and “tower structures.”
This is typical worldwide and increasingly common in Nigeria now to reduce the costs of putting up one.
Apart from that, the NCC introduced infrastructure sharing many years ago to cushion the cost of individual companies erecting and maintaining the same.
Analysts state that as of 2023, the bulk of towers in Nigeria were owned/managed by tower companies (“Tower Cos”), and not directly by MNOs.
The main tower companies and their approximate holdings (as reported in a 2023 “industry infrastructure” breakdown) include:
IHS Towers — about 18,925 towers
ATC Nigeria (subsidiary of American Tower Corporation) — about 8,270 towers
Globacom — directly owns and manages towers (unlike MNOs that lease towers from TowerCos) . Several smaller “TowerCo” operators (e.g. Pan-African Tower, East Castle, ColoPlus, others) — cumulatively adding to tens of thousands of towers. MNOs themselves directly manage only a small fraction of the total towers. For example, as of 2024, the majority of towers (~30,597 out of 39,880) are under TowerCos, while MNOs own about 9,283 towers.
Because of the lease / infrastructure-sharing model, each tower may host equipment from multiple operators — allowing multiple BTS per tower (or multiple MNOs sharing the same site) and making the mapping between “towers” and “BTS / base stations” non-trivial.
BTS is the electronic equipment used in mobile networks, including 2G/3G/4G/ and 5G.
BTS sends and receives radio signals to/from mobile phones
, performing encoding, modulation, and signal processing by connecting to a Base Station Controller (BSC) or directly to a core network (in 4G/5G)
BTS components include Radios (RRUs), Baseband unit (BBU), Power supply and backup batteries. There are also Antenna systems, Radio Frequency and fibre connections. BTSs are often installed at the base or inside a shelter near the tower.
The tower houses the BTS and can hours many more hours by global best practices.
While there are an estimated 145,000 BTSs, a little over 40,000 towers housover 145,000 BTS.
If the government can add 4,000 towers, the number will increase to about 44,000, although the NCC projects that for the country to enjoy robust telecommunication services, a minimum number of 80,000 towers is needed.

The 4,000-tower initiative is the second by the government to bridge the digital divide.
Earlier in the year 2025, the government announced the 90,000-fibre optic project in the country.
Known as Project Bridge, it is currently the largest digital fibre backbone investment in any developing nation.
The bold and strategic effort is to lay a 90,000km wholesale, open-access fibre network across the country,” Minister Tijanni said in an update on his X handle recently.He is quoted as saying: “It is designed to deliver high-speed, resilient, and equitable broadband connectivity to every corner of Nigeria – from major urban hubs to remote communities.”
The minister said the project marks a major step forward in the Federal Government’s mission to build an inclusive and future-ready digital economy for Nigerians. The project is a central part of Nigeria’s National Broadband Plan (2020-2025), which aims to boost internet penetration to 70 per cent by the end of 2025 and 80 per cent for underserved populations by 2027.
Project Bridge, which is expected to create more jobs, will operate under a Special Purpose Vehicle (SPV) to ensure efficiency and accountability.
The connectivity project is expected to cost the government $2 billion, and it is being funded by Direct Foreign Investment (DFI) loans and private equity, with the government holding a minority stake of 25–49 per cent in an independently run SPV.
The project targets 20,000 direct and 150,000 indirect jobs, and 1.5 per cent GDP growth. It aims to contribute from $472.6 billion to $502 billion GDP in four years.
According to the digital economy minister, Project Bridge is structured to support the needs of both large and small Internet Service Producers, ISPs. It offers scalable access through core, metropolitan, and middle-mile layers.
He promised that the digital fibre optic will accelerate fixed broadband growth nationwide by enabling healthy competition and network sharing.
The project will add 90,000km to the existing 35,000km network of fibre optic cables, thereby deepening the country’s digital backbone.
He promised that the digital fibre optic will accelerate fixed broadband growth nationwide by enabling healthy competition and network sharing.
The project design possesses seven regional backbone rings, which interconnect Nigeria’s six geopolitical zones and Lagos.
These rings will form a resilient national framework of 125,000km of fibre that ensures redundancy, minimises latency, and supports seamless data flow across the country.
Tijani is quoted as saying that the structure is critical to meeting growing national demand for high-capacity digital infrastructure.
He further explained that each region is covered by a dedicated fibre ring to connect urban centres and enhance regional connectivity.
“Each region is covered by a dedicated fibre ring (Lagos, South West, South South, South East, North Central, North East, and North West), strategically planned to connect urban centres and enhance regional interconnectivity. This regional design supports economic activity, governance, education, and digital access across all zones,” he stated.

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CBN approves 82 BDCs nationwide, warns against patronising illegal forex dealers

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By Nicholas Ojo

In what appears to be its first major enforcement step following the controversial overhaul of the foreign exchange market, the Central Bank of Nigeria (CBN) has officially granted final operating licences to just 82 Bureaux De Change (BDC) operators across the country, effective November 27, 2025.

The apex bank, invoking its powers under the Banks and Other Financial Institutions Act (BOFIA) 2020, confirmed that only the listed operators on its website are now legally permitted to buy and sell foreign currency to members of the public.

In a statement signed by the acting Director of Corporate Communications, Hakama Sidi Ali, the CBN issued a blunt warning to Nigerians to steer clear of unlicensed currency dealers, stressing that engaging in any transaction with them amounts to breaching federal law.

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“Only Bureaux De Change listed on the bank’s website are authorised to operate from the effective date,” the statement read, adding that the CBN will continue to update the list for public verification.

The apex bank reminded the public that operating a forex business without approval is a criminal offence punishable under Section 57(1) of BOFIA, a provision that includes sanctions ranging from fines to imprisonment.

This latest move marks a decisive push in the CBN’s clampdown on what it previously described as a chaotic, corruption-ridden forex ecosystem dominated by street hawkers, shadow operators, round-trippers, and politically linked “briefcase dealers.”

Analysts say the drastic reduction of licensed BDCs from thousands to just 82 signals a sweeping consolidation designed to centralise control, force out informal networks and rebuild confidence in a market shaken by naira volatility, insider racketeering and regulatory flip-flops.

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But the decision is expected to trigger fresh backlash from operators already accusing the CBN of engineering a monopoly favouring a handful of politically connected players, while strangling small-scale dealers who have dominated retail forex trade for two decades.

“Members of the public are hereby advised to note and be guided accordingly,” the statement added.

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OF BPP AND NATIONAL DEVELOPMENT

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BY GILBERT BWANSHAK

No doubt, the role of public procurement is very critical to economic growth and national development. In many ways, it is the veritable nexus between pricing, risk, sustainability, and geo-politics of a nation. Globally, it is a compass for gauging, regulating, and preventing public corruption towards emplacing good governance and meaningful development. A school of thought believes that an effective and efficient public procurement system is the antidote towards achieving growth in any economy. It further argues that, through open, credible, and competitive bidding in public procurement, financial leakages are blocked. Another school of thought is even more direct, frank, and blunt. It concludes that robust technical processes for public procurement; anchored on due diligence, transparency would curtail, if not eradicate issues of slush funds, kickbacks, and exploitative filtering of national wealth.

Before returning to democracy in May 1999, proper public procurement was largely non-existent. With successive military governments, the rules, regulations, procedures, and practices were largely regimental, limited, and constrained. There were no codified processes, and uniformity of operations. Some other pitfalls were limited competition, absence of value for money, lack of access to information, and discriminatory actions. This glaring lack of proper regulations and coordination led to serial mismanagement of public funds. Poor development planning and atrocious delivery of public services became regular fixtures. Many people believe that the concomitant effect of these incidences led to stymied growth in the country.

Between 2003 and 2007, with the return to democracy, the Federal Government emplaced institutional, legal and regulatory reforms in different sectors. One of these led to the enactment of the Public Procurement Act, (PPA) in 2007; which gave birth to the Bureau of Public Procurement, (BPP). The major planks of the PPA are: regulation of procurement through the BPP; establishment of standards in procurement; giving access to information for participants and the general public; fighting corruption. The BPP, as the agency legally charged with the implementation and regulations of public procurement carries out these functions: policy formulation, management, and oversight; enforcement of public procurement standards; information management and dissemination; capacity building; research and publication. The BPP powers include implementation and enforcement of the provisions of the PPA; inspection and reviews; information management; prevention of fraudulent, biased, and unfair procurement services.

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For many years, not many people knew about the BPP. Perhaps, for others, it only existed in names. More disturbingly, many people were oblivious of its strategic position in the realization of realistic national growth and development. For a few others, their perceptions about the BPP was not positive. Though previous administrations did their respective best but stakeholders believe it was not good enough. Some professionals reeled out incidents of alleged misconducts, malfeasance, and arbitraniness. There were alleged instances of under-the-table dealings, circumvention of procurement processes, MDAs and BPP connivance with different entities, and the creation of leakages in government’s finances. Some other stakeholders alluded to the cases of undue favouritism, nepotism, and wrong, deliberate mis-postings; which contributed largely to its non-performances in the past few years.

Sadly, the previous administrations did not realize the importance of public procurement as the platform through which the implementation of programmes and policies are done. It is the BPP that breakdown; into concrete terms all the ideas, intentions, and desire of government. Every plan and policies for national socio-economic development, which comes in budgets and appropriations are given life by the BPP through public procurement. The performances of government in providing health, infrastructure, roads, education, and other sector to the citizens are dependent on well-planned, and executed procurement processes by the BPP. Many stakeholders argue that since responsive and responsible governance thrives on the delivery of goods and services to the people, public procurement remains essential and necessary. For this group of professionals, and some other people, the government cannot shove aside the relevance of the BPP in any of its policy, programmes, and initiative.

When President Bola Tinubu was sworn into office in May 2023, he took an unfamiliar, different route in the appointment of chief executive officers to some key agencies. In doing this, he identified government organizations that are key to the delivery of goods and services to the people. Also, their respective roles in the realization of his agenda may have necessitated the actions. Further, given his decades-long expertise in public financing, risk management, corporate governance, and other related disciplines, Tinubu’s decisions may have been deliberate and intentional. Not minding scheming, manoeuvre, lobbying, and public comments, he was focussed, resolute, and determined. His eyes were on the ball; thoughts on the bigger picture. He envisaged the milestones these agencies would achieve with the right persons in charge.

With the passage of time, some stakeholders believed that the BPP may be one of the agencies identified to play strategic roles in the Tinubu administration. In November last year, after about 20 months into office as the 5th President in the 4th Republic, Tinubu appointed Dr. Adebowale Adedokun as the Director-General of the BPP. With over two decades experience in public procurement, both within and outside the country, Adedokun, who rose through the rungs to become the agency’s Director of Research, Training, and Strategic Planning was described as the best for the job by the majority of stakeholders. For many, his appointment signposts the understanding of procurement issues as it relates to national development by Tinubu. Some others eulogize him for recognizing the profession, and ensuring that one of its members oversees the agency. Many others commended Tinubu for considering competence, character, expertise, and capacity in the choice of Adedokun.

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True to expectations, Adedokun literally hit the ground running barely hours after resumption of office. Convinced that procurement connects the citizenry with the government towards delivering values, and meeting the satisfaction of end-users, he anchored his vision on reforms in public procurement. These are monetary thresholds implementation guidelines; national procurement strategy; food procurement initiative; the return of mobility of procurement officers to the Bureau. He identified community and affirmative procurement; institutional collaborations and partnerships; Nigerian E-Market; and revised standard bidding documentations as the enablers of the reforms. The reforms are geared towards transparency; efficiency; accountability; and ensuring that public funds achieve value for money through quality, competitive, and life-cycle costing in procurement decisions. They are expected to ensure effective use of public utilities; reduce corruption; strengthen governance; guarantee service delivery; align with global best practices.

At the inception, though many people did not doubt his passion for hard work, and commitment to excellence, there were worries and doubts about the numerous landmines of bureaucracy and subterfuge. Somehow, Adedokun has continually surmounted obstacles, and moved forward in the discharge of his duties. This has been made possible with the endorsement, and approvals of Tinubu to the BPP’s policies that has direct impacts on the people, and positive effects on the country. The unwavering support of other top government officials and colleagues across the MDAs are pivotal. Alliances, partnerships, and collaborations forged with local and foreign associations have contributed to the success-rating of BPP. Unlike the past, public perceptions, believability, and responsiveness of the Bureau are very encouraging.

One year of his leadership at BPP, has led to remarkable achievements. Some of these includes the establishment of price intelligence and benchmarking unit for real-time market data; increased monetary thresholds for public procurements; enforcement of due process, regular reviews, and tackling of identified leakages in the procurement processes. Others are saving Nigeria over 173 billion naira, and huge sums of money in other foreign currencies from contract frauds; establishment and recognition of the Procurement Officers Management System to enhance professionalism, and tracking career progression; continuous capacity building for procurement officers. It also include the introduction of the debarment policy, and some other outdated clauses and practices that are inconsistent with global procurement practices; the adoption of BPP’s reform policies by a few African countries. That these and more notable landmarks were achieved in a year, is a worthy testament of political will, visionary leadership, fervour for excellence, and unity of purpose.

As Adedokun and his team remains determined in re-positioning the BPP towards achieving its goals, they should be mindful of certain potential booby-traps. Fight backs by a few stakeholders who are aversed to change, and improvement of processes; other entities and people who are resistant to dynamism; capacity gaps of procurement professionals in the MDAs; undue political pressures. Given the volume of its activities, and the urgency of timely delivery, it has become imperative for the Federal Government to provide, and increase tools necessary for enhanced services. Better funding, employment of more staff members, befitting office space, provision of vehicles, and other relevant equipment will no doubt energize the BPP to do more.

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* Citizen Gilbert Bwanshak, a Leadership & Governance Strategist writes from Jos.

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