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Fayose’s Trial Starts November, Gets Bail

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Alleged N1.2bn fraud: EFCC presents 11th witness against Fayose

Former Ekiti governor Ayodele Fayose was granted bail this morning over the N30.8 billion fraud charge slammed on him by the Economic and Financial Crimes Commission.

His trial will start on 19 November, Justice Mojisola Olatoregun ruled.

Fayose was docked at the Federal High Court in Lagos on Monday alongside his company, Spotless Investment Ltd on an 11-count charge of N30.8 billion fraud.

He pleaded not guilty to the charge.

His lawyer Kanu Agabi SAN, moved a motion for his bail, after which the judge ordered Fayose’s remand in EFCC custody and adjourned hearing till today.

Justice Olatoregun heard the arguments by Agabi and EFCC counsel, Rotimi Jacobs today,

Agabi, a former Federal Attorney-General , urged the court to grant Fayose bail on the ground that he voluntarily submitted himself to EFCC a day after leaving office as Governor of Ekiti State.

In addition, he said, Fayose has no criminal record.

Mr Rotimi Jacobs, SAN, prosecuting for EFCC, countered on the ground that the day Fayose appeared in EFCC Abuja he came with a lot of hoodlums that nearly attacked the EFCC operatives before they were repelled.

He was probably to the crowd that included Governor Nyesom Wike and former aviation minister, Femi Fani-Kayode.

Rotimi also told the court that investigation is still ongoing to trace some of the properties bought by Fayose with the stolen money and if granted bail, he will scuttle investigation.

Justice Mojisola Olatoregun said since the offence alleged to have been committed is a bailable offence, she was inclined to grant Fayose bail.

She thus granted Fayose bail in the sum of N50million with one surety who must own a landed property in Lagos.

The surety must possess three years tax clearance and must also secure a bond of N50million from a reputable bank which will be forfeited if Fayose jumps bail.

Fayose was also ordered to swear to an affidavit not to tamper with the witnesses and should deposit his international passport with the chief Registrar of the court.

Thereafter, she adjourned the trial till 19th of Novenber, 2018.

 

Credit: NAN

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Tinubu Sends Emissary To Plateau Over Insecurity

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President Tinubu has dispatched an emissary, Dr Abiodun Essiet, to Plateau State, as part of his administration’s efforts to curb incessant communal crises, farmers/herders clashes, as well as foster intercommunal harmony in Plateau State.

This was disclosed in a statement on Sunday by Special Adviser to the President on Information and Strategy, Bayo Onanuga.

Essiet, a Senior Special Assistant on Community Engagement in the North Central Zone, was in the state on Thursday, where she spent two days.

She met Christian clerics and Fulani Miyetti Allah community leaders.

According to the statement, the efforts also culminated in a town hall meeting in Jos. It further stated that delegates from various local government areas, traditional rulers, women, and youth leaders gathered to discuss ways to strengthen community-based peace structures and promote coexistence among diverse communities.

“Essiet paid a courtesy visit to Reverend Ezekiel Dachomo, Chairman of the Regional Church Council (RCC), in Barkin Ladi, where discussions centred on faith-based leadership and its role in promoting peace, unity, and social development,” Onanuga stated.

“Along with Dachomo, she addressed some widows and conveyed President Tinubu’s message of fostering ethnic reconciliation in the state. Dachomo has been the loudest voice of Christian communities in the state.”

She also met with Fulani leaders in Barkin Ladi to foster dialogue and mutual understanding between pastoral and farming communities, reaffirming the Federal Government’s commitment to inclusive engagement.

“Later in the day, she conducted a workshop on establishing a community peace structure for the 17 Local Government Areas in Jos,” the statement added.

“Dr Essiet also held a closed-door meeting with the Irigwe community, the Miyetti Allah group, and representatives from the Youth Council of Bassa LGA.

“They focused on sustaining peace and discussed how the 17-member peace committee strengthens dialogue, reconciliation, and coexistence between the two communities.

“Dr Essiet reiterated President Bola Tinubu’s unwavering commitment to peace and inclusive governance, noting that the Community-Based Peace Structure serves as a key instrument for grassroots unity, dialogue, and long-term stability in the North Central region. ‎

“A quick win in the peace efforts was the resolution of the conflict between David Toma, the owner of Agha Farm in Gyel district of Jos South and some herdsmen. Toma seized two cows following the destruction of his farm.

“On November 15, the MACBAN Chairman of BASSA LGA, Alhaji Isah Yau, paid a compensation of N500,000 to Toma, who subsequently released the cows. All parties signed an undertaking to embrace peace in the state,” it concluded.

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Lagos govt promises MSMEs continued visibility, market access

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The Lagos State government has reaffirmed its unwavering commitment to supporting micro, small, and medium enterprises (MSMEs) across the state through visibility, capacity building, and market access.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Folashade Ambrose-Medebem, made the pledge on Sunday at the closing ceremony of the 2025 Lagos International Trade Fair (LITF).

The 38th edition of the event, organised by the Lagos Chamber of Commerce and Industry (LCCI), had its theme as “Connecting Business, Creating Value.”

Ms Ambrose-Medebem said every entrepreneur, regardless of scale, deserves an enabling environment to thrive and contribute meaningfully to the state’s economic prosperity.

She said the state, through strategic investments in infrastructure, institutional reforms, and continuous engagement with the private sector, was building a Lagos that worked for business.

The commissioner added that the state would continue to foster innovation, competitiveness, and sustainability.

“As a government, we remain steadfast in our commitment to making Lagos the preferred destination for commerce and enterprise.

“This fair has once again demonstrated the power of connection: connection between producers and consumers, investors and innovators, the government and the private sector, and local entrepreneurs and global brands.

“Every handshake, every conversation, every business card exchanged here is a building block toward the future we are creating, a future of prosperity that leaves no one behind,” she said.

The commissioner urged businesses to continue to connect, collaborate, and create value, saying, “In Lagos, we do not just trade goods; we trade ideas, build futures, and transform lives.

“Together, let us continue to make Lagos not just a place of commerce, but a symbol of progress, innovation, and endless opportunity.”

Gabriel Idahosa, president of LCCI, urged governments at all levels to continue addressing the issues of creating an enabling environment in the country.

Mr Idahosa said focus should be on infrastructure, security, and implementing the right policies to address the key drivers of high inflation.

This, he said, was needed to fully harness the vast enterprising resources of domestic and foreign investors for the diversification of our economy and the welfare of our people.

He pledged the commitment of the organised private sector to stand solidly behind the state in its quest to actualise its innovative initiatives on all fronts.

(NAN)

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Wale Edun reacts to S&P rating on Nigeria, vows to strengthen economy

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The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reacted to the decision of S&P Global Ratings to revise Nigeria’s outlook to Positive from Stable, saying that the government would continue to implement well-coordinated policies aimed at restoring macroeconomic stability.

The Minister, in a statement released on Saturday, said the upgrade, while affirming Nigeria’s long- and short-term ratings at ‘B-/B’, was a strong endorsement of the fiscal, monetary, and structural reforms being rolled out under President Bola Tinubu’s administration.

“I am delighted to receive the news that S&P Global Ratings has revised Nigeria’s outlook to Positive from Stable while affirming our ‘B-/B’ rating,” he said.

“This development is yet another clear signal that the difficult but necessary reforms we are undertaking are gaining traction and earning strong recognition from respected global institutions.”

Edun noted that with Moody’s and Fitch Ratings having earlier upgraded Nigeria’s credit position in the same year, all three major global ratings agencies now align in acknowledging the progress of the reforms.

“This alignment reflects tremendous confidence in the direction of our fiscal, monetary, and structural reforms, and in the renewed strength and stability of our economy,” he said.

The Minister highlighted that S&P’s decision echoed the agency’s recognition of improved growth prospects, strengthening external buffers, and clearer monetary policy outcomes, which are beginning to materialise as the reforms take hold.

“These positive signals reinforce our commitment to staying the course,” Edun added. “While we are fully aware that more work lies ahead, the foundations we are building today will support inclusive and sustainable growth for years to come.”

He commended President Tinubu for what he described as “unwavering leadership and political courage” in pushing reforms that had long been delayed and also acknowledged the resilience of Nigerians navigating the transition.

“We will continue to implement well-coordinated policies that restore macroeconomic stability, attract investment, and create opportunities for our citizens,” he assured.

“The confidence shown by global ratings agencies strengthens our resolve to deliver a stronger, more dynamic, and more prosperous Nigerian economy.”

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