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Lai Mohammed’s Loyalist Appointed NBC Board Chairman

Alhaji Lateef Bolarinwa, Chairman of the Kwara State All Progressives Congress (APC) faction loyal to Alhaji Lai Mohammed, Minister of Information and Culture, has emerged Chairman of the Board of the National Broadcasting Commission (NBC). His appointment was announced on Wednesday in a statement conveying President Muhammadu Buhari’s approval of the reconstitution of the NBC Board, following the expiration of the tenure of the former board.
Bolarinwa, a former member of the House of Representatives representing Lagos Mainland, was the Caretaker Committee Chairman, but was removed following the disagreement between Governor Abdulrazak Abdulrahaman of Kwara State and Mohammed over the control of party in the state.
During the state congress of the party, Mohammed’s faction held its parallel congress where Bolarinwa emerged Chairman.
However, the party’s Caretaker Extraordinary Convention Planning Committee (CECPC) recognized declined to recognize the congress held by Mohammed’s faction, but that of the one headed by the governor.
Other members appointed to represent various interests as prescribed by the NBC Act include Mr. Wada Asab Ibrahim, Mr. Iheanyichukwu Azubike Dike, Mrs. Adesola Oyinloye Ndu and Mr. Olaniyan Olatunji Badmus.
Also on the board are Mr. Bashir Ibrahim, Mr. Obiora Ilo, Mr, Ahmad Sajo, Engr. Bayo Erikitola, who is representing the State Security Service; a representative of the Federal Ministry of Information and Culture as well as the Director-General of the Commission. The board has a three-year tenure.
The previous NBC Board and the Minister fell out two years ago over the 6th National Broadcasting Code (NB Code), which the Minister presented on 26 March, 2020 at the L’eola Hotel in Lagos.
. At a press conference in Abuja, the former Board declared the code presented by the Minister as illegal and unfit to be used for the regulation of broadcasting in the country. It explained that the code had been publicly presented in 2019 in Kano and alleged that the Minister had, afterwards, unilaterally carried out a review without input of other stakeholders.
At the press conference, Alhaji Ika Aliyu Bilbis, then Chairman of the Board, and his colleagues stated that 55 institutions and stakeholders, including the Broadcasting Organisations of Nigeria (BON), Independent Broadcast Association of Nigeria (IBAN), private media outfits, broadcasters, notable media Intellectuals, communication experts and Nobel laureate, Professor Wole Soyinka, separately wrote to the Board to express their rejection of the code.
‘’The Board of the NBC wishes to make it quite clear that as long as it is in place, the only NB Code that we recognise and which we shall work with in the setting of operating policies and standards for the NBC is the 6th edition of the NB Code, which was launched in 2019 in Kano. Any other purported review has no board endorsement and therefore cannot be utilised in regulating broadcasting in Nigeria.
‘’The danger of allowing the unilateral amendment of the NB Code to stand is that investors in the industry will lose confidence in the stability the broadcast ecosystem has enjoyed till date before the advent of the current Minister of Information.
‘’Our President and his team have worked so hard to galvanise local and foreign investment in Nigeria. Allowing obnoxious policies to take root in our Investment Culture will spell doom for creativity, enterprise, diversity and the general development of broadcasting in Nigeria’’, the NBC board said.
The Board noted that a review of the code is undertaken every four years and involves NBC staff, former DGs, retired NBC Directors and other relevant industry stakeholders.
’These, according to the Board, include Broadcasting Organisations of Nigeria (BON), Independent Broadcast Association of Nigeria (IBAN), Private Media outfits, Broadcasters, notable media Intellectuals, Communication experts, Digiteam and the academia.
‘’From the history, traditions and the convention of the NBC, no Honourable Minister of Information has ever interfered in any NB Code review.
‘’After the 2019 presentation of the 6th code (which is the present one), the Honourable Minister has acted alone with just a handful of his loyalists who have written a new NB Code that has created uproar in the industry, threatening to destroy investments and lead to job losses.
‘’The Honourable Minister has constantly dropped the name of President Muhammadu Buhari as having approved his own version of the code review. The NB Code is a regulatory framework put together jointly by stakeholders to guide their operations in the industry’’, the Board explained.
It further stated that the Minister’s version was at variance with every known criterion of due process and inclusiveness of stakeholders.
‘’The Director overseeing the office of the DG of the NBC has equally made insinuations that the Board endorsed the amendments culminating in its ‘public presentation’ on 26th March, 2020 at the L’eola Hotel in Lagos. Nothing can be farther from the truth.
‘’The ‘public presentation’ was actually attended by serving directors in the NBC, one former DG of the NBC, a member representing the Ministry of Information and only four (4) selected stakeholders. When compared with over sixty (60) stakeholders that attended the 2019 presentation in Kano, there is a wide gap in industry representation.’’
The board further noted that the version of the Code presented by the Minister contains disturbing provisions that had attracted critical comments with threats of litigation from organisations and individuals.
The board explained that those amendments were inserted to destroy the hard work of others and appropriate their intellectual property by new entrants into the industry.
News
NIA Questions Legality of Reps’ Financial Probe

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

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

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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