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OBJ Warns against Coup, Interim Govt
Former President Olusegun Obasanjo yesterday warned against military takeover of government in the country.
Obasanjo, who gave the warning while receiving a delegation of South-West women of the All Progressives Congress (APC), said any military takeover of government would not be recognised by the international community.
The APC delegation was led to the ex-president’s Hilltop residence in Abeokuta, Ogun State by the wife of the party’s presidential candidate, Hajia Aisha Buhari.
Obasanjo said he was happy that Nigeria had gone beyond the rumour of Interim National Government, adding that the country would also survive the current rumour of handing over to the military.
He said: “I do hope we will get things more. A lot of rumours are flying around, I think we have gone away from the rumour of Interim Government because that is not in our constitution. I hope we will soon go away from the rumour of handing over to the military because the military is not meant to run affairs of a nation in terms of running government. And the international community will not condone it, particularly African Union.
“We have said and it is part and parcel of the constituting act of the African Union. Any government that is brought about not on the basis of the constitution will not be accepted, will not be tolerated and will not be a member of the AU until that government is dismantled.”
Obasanjo noted that the international community was much interested in Nigeria’s general elections, saying the country should strive to live up to expectation by conducting credible polls.
He said: “We are the largest country in Africa, we should be a model, setting examples. We shouldn’t be drawing Africa backward. I hope we will not. I hope at the end of this exercise, we would be where we should be, leading Africa and showing examples for the rest of Africa and indeed, the rest of the world.
“We have the goodwill of many people. I watched last night (Monday), President (Barack) Obama talking about our constitution. I watched our brother from Ghana, the current chairman of ECOWAS talked about our constitution; they are all interested. They all wish us well.
Should we wish ourselves anything less?” The former president decried what he called hate campaigns among the political parties in the country.
He said politicians and candidates seeking elective offices should focus more on what would unite Nigeria than what would cause division.
He said: “May be I should say one or two things about campaign. I do hope that whatever happens at the elections, the one coming this week and the one coming couple of weeks after that, that we would have learnt the right lessons from what has taken place this time around.
“Unfortunately, issues that should have been the main item of our campaign, they did not. We have serious issues of security, we have serious issue of our economy, we have issue of unemployment, particularly youth unemployment. We have serious issue of infrastructure.
These are issues amongst others that I believe campaign of those who are interested in the present and the future of this country should be directed at.
“How are we going to get them? What are we going to do? Not trivial issues of certificate, no certificate; not trivial issues of when somebody is talking about someone is a Nigerian and not a Nigerian.
“I said it; this is what they had in Cote d’Ivoire and led them into a very serious problem; not issue of religion, not issue of tribe, not issue of section but issues of unity of this country and the hate campaign that we have embarked upon now.
“I hope this will be the last time in the history of this country that we will have this type of campaign of hatred or division. I think the emphasis should be on what unites us, not what divides us.”
Obasanjo urged Nigerian women to play active role towards ensuring a better country, saying doing otherwise may adversely affect their wellbeing.
Speaking earlier, Mrs. Buhari commended Obasanjo for being a true nationalist and statesman. She said the former president acted beyond party leaning while solving issues affecting the country.
She said: “Baba exercises his prowess as a father, as a former head of state of Nigeria twice. Very few Nigerians have the opportunity to rule the country twice. We are here today to show our appreciation the way you handle things as a statesman and also a nationalist. “We thank you so much for acting beyond party in getting things right; thank you for that. May you live long to continue solving out problems.”
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NGX Group Chairman Seeks Regional Collaboration to Unlock West Africa’s Trade, Investment Potential
Umaru Kwairanga, chairman, Nigerian Exchange Group (NGX Group), has called for stronger regional cooperation to harness the untapped potential of West Africa’s trade and commodity markets.
Speaking at the inaugural West Africa Economic Summit (WAES) 2025 held under the theme “Unlocking Trade and Investment Opportunities in the Region”, Kwairanga highlighted the critical role of capital markets and commodity exchanges in transforming the region’s abundant natural resources into organised, transparent capital that fuels industrialisation and inclusive economic growth.
The summit brought together key stakeholders from across West Africa to deliberate on strategies for accelerating regional integration, strengthening capital markets, and unlocking the full potential of intra-African trade.
In his remarks during a high-level panel on “Commodities as Capital: Regional Commodities Exchange & Reserves”, Kwairanga noted that despite West Africa’s wealth of raw materials, the region continues to face a paradox of resource abundance coexisting with capital scarcity.
“As a nation and region, we are abundantly rich in raw materials, but often poor in capital outcomes. This paradox is not due to a lack of resources, but due to the way these resources have historically been excluded from structured financial ecosystems.
Commodities, whether agricultural, mineral, or energy, must be seen not just as tradeable goods, but as investable assets capable of powering industrialisation, job creation, and macroeconomic stability,” he said.
Kwairanga emphasised NGX Group’s commitment to building resilient market infrastructure that supports price discovery, clearing, settlement, and investor protection, systems that can underpin thriving regional commodity markets.
He highlighted NGX Group’s role in mobilising capital for commodity value chains through IPOs, bonds, and structured funds, citing the success of NGX-listed companies like Presco and Okomu Oil as models for attracting long-term investment.
On the question of regional versus national commodity exchanges, Dr. Kwairanga advocated for a dual approach that combines the strengths of national platforms with the scale and integration benefits of regional frameworks.
“National exchanges address local needs and build depth, but for West Africa to unlock the full potential of commodity trade, we must connect these markets under a regional structure.
“Regulatory harmonisation will be key, and this is where NGX Group’s experience in governance, coupled with platforms like the African Exchanges Linkage Project and the Pan-African Payment and Settlement System, can help align standards and enable seamless cross-border transactions,” he stated.
Addressing liquidity challenges, Kwairanga outlined the need for harmonised rules, trustworthy infrastructure, product innovation, and incentives to drive participation. He called for public-private partnerships and regional integration to deepen market liquidity and ensure efficient price discovery.
Beyond the panel discussions, Kwairanga commended the vision of President Bola Tinubu and the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, for spearheading the summit. “There is power in unity and prestige in size. The great economic powerhouses of the 21st century, such as the United States and China, have risen to prominence partly because of the scale of their markets.
A united West Africa can achieve the same if we work together on initiatives like this,” he said, expressing optimism that the summit would produce actionable frameworks to reduce trade barriers, encourage regional investment, and fast-track economic growth across ECOWAS.
NGX Group, he added, remains committed to supporting cross-border investments, citing its participation in the African Exchanges Linkage Project and the increasing regional footprint of NGX-listed companies such as Dangote Cement, First Bank, Zenith Bank, Access Bank, and Ecobank.
Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).
The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million
Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.
The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.
In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN, described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.
“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”
Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.
He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.
Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”
A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.
The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.
Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”
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FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations
In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.
The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.
Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”
Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.
TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.
Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.
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