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Anambra Commissioner Quits Obiano Govt over Threat to Life

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Chief Willie Obiano,Anambra State Governor
Willie Obiano
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A commissioner with the Anambra State government, Dr Christian Madubuko has resigned his appointment, alleging threat to life and sabotage.

Anambra Commissioner Quits Obiano Govt over Threat to Life

Willie Obiano

Madubuko who last worked as the Commissioner for Art, Culture and Tourism turned in his resignation letter, saying that the sabotage he has seen while working as Commissioner in Anambra is the reason it is difficult for Nigeria to develop.

Madubuko, a Canadian trained Nigerian was first appointed as Commissioner for Industry, Trade and Commerce, the Commissioner for Road, Rail and Water Transportation and finally as Commissioner for Diaspora Affairs, Indigenous Artworks, Culture and Tourism.

He was known to have had a running battle with a fellow Commissioner, c of the transport ministry, a battle which many believed he was bound to lose as Okafor was related to the wife of the governor, who is believed to be in charge of the state.

In his resignation letter, Madubuko charged Governor Obiano to quickly wake up and take charge of the government.

FULL TEXT OF RESIGNATION NOTICE

My dear colleagues, l wish to officially notify you of my resignation. I have on the 11th of December 2020 resigned my position as Commissioner. It is my pleasure to thank all of you for the time we spent together in the service of our state. Indeed, it was a three years of action-packed lessons both positive and negative.

I must sincerely thank the Governor for the opportunity to serve. When l was appointed Commissioner in 2018, the Governor directed me to block all revenue leakages.

That l did without looking at faces. In the cause of fighting corrupt individuals holding the State revenue on the throat, all manners of frivolous petitions against me were written to the Governor accusing me of several misdeeds particularly distablising our party, APGA and advising the Governor to remove me before l do more harm to the party.

In several occasions, agents of darkness tried bribing me with milions of the naira. I arrested these criminals which was also applauded by the Governor at the exco meetings. Within this three years, l have been redeployed to three key ministries in the State as Commissioner. First, was as Commissioner for Industry, Trade and Commerce.

Second, was as Commissioner for Road, Rail and Water Transportation and finally as Commissioner for Diaspora Affairs, Indigenous Artworks, Culture and Tourism. In those Ministries, l performed above average. With all these hapenings, it became clear that when you fight corruption, corruption fights back in several forms.

I now understands clearly why Nigeria (nay Africa) can never develop like Europe. I came down from Australia to help in developing our state just like some of you were invited from different parts of the globe. True to my believe, l worked tirelessly to actualize that dream. In working to meet the target, we set – up Mobile Courts and jailed several revenue thieves and significantly raised the State revenue which were applauded by the Governor at various EXCO Meetings. I fought various parasitic interests and jailed many of them. I stepped on toes risking my own life for the survival of the State.

Those toes l stepped on are now in the prowl for my life. I am no longer safe as l speak. In three different occasions, l received baptism of fire by unknown gunmen/assassins. I was equally attacked severally at the Onitsha Main Market by the agents of the revenue criminals. All these attempts were to stop me from exposing the people involved in siphoning the State revenues into their private pockets to the detriments of the Anambra citizens.

I am particularly happy that the Governor acknowledged my positive and selfless contributions to the point of putting my on life on the line in the process of executing my assignments. During the COVID – 19 PANDEMIC, I and my team transvassed and crisscrossed around the state day and night to ensure we protect our people from the dangerous virus.

I recalled the Governor phoning me together with his wife around 3am during the pandemic drama requesting me to have a rest. The Covid Saga provides an example of how bad our system has become.

All our efforts to help the Governor from all angles were unfortunately hijacked and framed in the bad light by forces of inordinate ambitions and insatiable greeds. I watched my State being destroyed by a tiny cabals of renegades. I advice His Excellency the Governor, to rise up to the challanges of leadership and take charge of his Government.

This is because, at the end of it all, the Governor alone takes all the glory for things done right and blames for things done wrong. In summary, l have balanced all and brought all to mind and decided to leave, effective 11:59pm 31st December 2020.

Once again, thank you all and remain blessed. We shall meet again in higher echelon. HAPPY NEW YEAR to all of us.

Christian C. Madubuko, PhD.


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NIA Questions Legality of Reps’ Financial Probe

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The Nigerian Insurers Association has urged the House Committee on Capital Market and Institutions to respect the constitutional separation of powers as it carries out a probe on over 20 insurance firms.

In a statement on Tuesday night, the Director General/Chief Executive Officer of NIA, Mrs Bola Odukale, said the decision of NIA and the affected firms to approach the court was to seek clarity on the constitutional limits of the House Committee’s probe.

It would be recalled that the House of Representatives on Monday is investigating no fewer than 25 insurance companies operating in the country for various financial infractions spanning financial reporting, claims settlement, premium remittance, and issuance of policies.

The Chairman, House Sub-Committee on Capital Market and Institutions, Kwamoti Laori, during a meeting with the management of the insurance companies at the National Assembly Complex in Abuja, said the meeting was convened following the receipt of a petition on infractions by the insurance companies.

In the statement, Odukale said, “The Association wishes to state unequivocally that all actions taken by the NIA and the affected member companies in response to the Committee’s invitations and pronouncements were based entirely on legal advice by its Solicitors. It was on the firm instruction of legal counsel that recourse was made to the courts.

“The objective of approaching the Court is to seek judicial guidance on the legality, propriety, and constitutional limits of the Committee’s intervention in order to safeguard institutional integrity, uphold regulatory independence, and ensure that legislative oversight remains within the bounds of law.

“The Court action seeks to determine whether the current posture of the Committee reflects an exercise of legislative judgment, which, by constitutional design, is the exclusive province of statutory regulators, such as the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange, Financial Reporting Council, Nigeria Data Protection Commission, and the National Information Technology Development Agency.

“This raises serious questions about legislative overreach and an erosion of the doctrine of separation of powers, a cornerstone of Nigeria’s constitutional democracy.”

Odukale maintained that the NIA was committed to lawful and constructive engagement with all arms of government, provided that such engagement respects the autonomy of statutory regulators and the boundaries established by the Constitution.

“The NIA will continue to provide its full support to all member companies while upholding the principles of legal compliance and sector-wide integrity,” Odukale concluded.

17 of the companies that went to court were represented by their lawyer, Mr Abimbola Kayode, at the meeting with the committee.


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Horn of Africa Leaders Seek Enhanced Digital Integration for Increased Regional Growth

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Finance ministers and development partners from the Horn of Africa have called for enhanced digital integration to boost trade, drive economic growth and promote regional stability during the 25th Ministerial Meeting of the Horn of Africa Initiative (HoAI).

Held in Nairobi, on July 14, the meeting was co-chaired by the African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo and Somalia’s Minister of Finance, Bihi Iman Egeh. Discussions underscored the critical role of digital integration in reducing trade barriers, boosting government service delivery and creating employment — particularly for the region’s youth.

“Digital technologies are shaping today’s economy and tomorrow’s industries. By embedding these technologies into our programs, we can not only improve inclusion but also leapfrog outdated development models,” said Nwabufo.

She called for digital integration a “central enabler” in each of the Horn of Africa Initiative’s pillars – trade, infrastructure, resilience, and human capital,

Learning through experience

Drawing from global and regional success stories, speakers highlighted the transformative potential of technology-led development. The ministers pointed to the Philippines as a strong example, where ICT has generated millions of jobs in business process outsourcing. Similarly, Kenya’s fintech innovation—especially the success of M-PESA—was cited as a model for scaling digital financial services across the region.

Participants urged governments to proactively foster digital ecosystems by capitalizing on the demographic dividend, identifying infrastructure upgrades, tighter regulatory reforms, and digital skills trainings as priorities to enable broader participation in the digital economy.

Minister Egeh reiterated the need for more coordinated regional efforts to create the enabling environment required for accelerated digital integration and expansion. He referenced the HoAI Digital Policy Matrix, adopted in 2023 which provides a blueprint on how to address key obstacles to achieving effective digital integration across the region.

Barack Makokha, Kenya’s Cabinet Secretary for National Treasury, underscored the importance of regionally-aligned public private partnerships and advocated for blended financing to reduce investment risk and expand digital access in underserved areas.

World Bank Vice President for Eastern and Southern Africa, Ndiame Diop, called for a comprehensive multi-pronged approach, combining cross-border coordination, large-scale financing, robust policy support, and digital infrastructure investments. He pointed out that such measures could transform digital integration into, “a powerful engine of economic transformation” for the Horn of Africa—ensuring no one is left behind in the digital era.

The meeting concluded with a shared recognition that sustained political will and the determination to implement a multifaceted approach are essential to unlocking the region’s economic potential and driving long-term growth.

The event also welcomed observers from the East African Community, Agence française de développement, and Shelter Afrique, reflecting strong regional and international backing for the HoAI in the development community.


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CSCS Inaugurates Custodian Portal to Enhance Digital Access, Operational Efficiency

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Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure provider, has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure and efficient features.

Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday.

The CSCS is a Public Limited Company with a diversified shareholder base, which serves as the Central Securities Depository for the Nigerian Capital Market.

It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN Savings Bond, Equity-traded Funds, Real Estate Investment Trusts, Mutual funds and Commodities.

Jalo-Waziri said that the custodian portal offered a streamlined experience for market participants with powerful tools that facilitate comprehensive portfolio and trade management, document tracking, share transfer operations, client symbol search, and real-time access to vital data.

He explained that the portal, designed to operate through a flexible subscription-based model, empowered users to manage their records effortlessly and securely through convenient payment channels such as GTPay and Paystack.

According to him, “Digital transformation remains at the core of our strategy to enhance the efficiency, transparency and accessibility of Nigeria’s capital market services.

“The custodian portal is a significant leap in that direction, offering custodians a centralised platform to manage critical processes in real-time.

“We are excited about the value this innovation brings to our stakeholders, and we will continue to evolve the platform in line with users’ needs and industry trends.”

The CEO also explained that the portal was designed with user experience in mind with feature tools like portfolio viewing and downloads in PDF or Excel format.

He further said that it also featured tracking of stock movements across date ranges, inbox messaging and request tracking, as well as robust user management capabilities including role assignment and status tracking.

Similarly, the Divisional Head, Business Technology and Digital Innovation, CSCS Plc, Tobe Nnadozie, said that the portal aligned with CSCS’s drive to automate the market.

“In addition to the normal features, the platform is a part of an omnichannel platform for custodians, and includes API services.

“It also connects to the market-wide workflow, which CSCS has built to ensure secured communication and approvals across all major stakeholders in the market.

“The platform is well secured with best-of-breed cybersecurity solutions and our SOC,” he said.

The Custodian Portal reinforces CSCS’s commitment to leveraging technology to streamline back-office functions and support a more agile, data-driven capital market ecosystem.

All custodians in the Nigerian capital market have now been successfully on-boarded on the Custodian Portal, marking a significant milestone in CSCS’s ongoing drive to enhance collaboration, standardise operational processes, and promote digital adoption across the market.


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