Uncategorized
Policy Summersaults Threat To Nigeria’s Growth: CRC Boss
Stephen Olufemi Oni, Ilorin
Nigeria’s quest to build a vibrant entrepreneurial economy is under serious threat due to inconsistent government policies, weak infrastructure and fragmented data systems, Managing Director of CRC Credit Bureau Limited, Dr Ahmed Babatunde Popoola, has said.
Popoola raised the alarm while delivering a lecture at the Kwara State University (KWASU), Malete, where he stressed that access to finance alone cannot drive business growth without trust, reliable data and coordinated policy direction.
According to him, Nigeria must urgently strengthen three key pillars—financial services, financial infrastructure and socio-economic systems—to compete with leading entrepreneurial economies globally.
“We must develop all these three in Nigeria to join the league of entrepreneurial economies,” he said.
He expressed concern that frequent policy changes by successive administrations have weakened the impact of government interventions on small businesses and consumers.
“At the public policy level, a coherent access to finance framework for consumers and SMEs needs to be developed. We have observed that different administrations embark on different policies and continuity is not guaranteed. This is a major challenge in Nigeria,” Popoola stated.
The CRC boss also decried the dominance of informal credit systems, warning that millions of Nigerians, including users of unregulated digital lending platforms, remain outside the formal financial ecosystem.
“A lot of credit activities take place informally outside the formal financial system. A robust finance framework would connect these fragmented sources to the formal system and enhance financial inclusion,” he said.
On identity management, he called for the harmonisation of multiple identification platforms under the National Identification Number (NIN), proposing a unified system for all Nigerians.
“We need to accelerate the fusion of tax ID, passport, BVN, driver’s licence and voter’s card with the NIN. It should be the only unique number for everyone,” he added.
Popoola further warned that rising digital financial transactions have increased exposure to fraud and data breaches, urging stricter enforcement of data protection laws.
“Data is central to the success of the financial system. It must be protected from abuse and unauthorised access. Strict compliance with data protection regulations should be enforced,” he said.
He also urged government to unlock critical data held by telecom firms, power distribution companies, insurers and tax authorities to support credit bureaus in improving lending decisions.
“With the right data, credit bureaus can unlock access to credit for consumers and small businesses. Today, data is locked up in silos and not useful to the economy,” he noted.
Highlighting infrastructure gaps, Popoola described poor electricity supply as a major obstacle to industrialisation and enterprise development.
“I do not think any nation can achieve greatness if access to electricity remains as poor as we currently have it in Nigeria,” he said.
He challenged universities to conduct impact assessments on government-backed SME programmes, noting a lack of evidence on whether such interventions are achieving desired outcomes.
“Rigorous research should determine whether these supports are achieving expected outcomes. As of now, we have little research activities in this area,” he added.
Popoola, however, acknowledged progress in Nigeria’s digital ecosystem, citing the growth of fintech firms such as Flutterwave, OPay, Interswitch and MoniePoint as evidence of emerging trust infrastructure.
“Government direct financial support is a form of subsidy and cannot materially address the gaps in access to finance. The promotion of financial infrastructure will move the needle faster,” he said.
He emphasised that improving education and healthcare systems is critical to unlocking the potential of Nigeria’s youthful population.
“When we build the capacity of people through quality education and accessible healthcare, we will unleash opportunities for our youthful population to live lives of dignity and prosperity,” Popoola said.
Meanwhile, the Vice-Chancellor of Kwara State University, Professor Shaykh-Luqman Jimoh, reaffirmed the institution’s commitment to bridging the gap between academia and industry through strategic partnerships.
Jimoh said the collaboration between the university and CRC Credit Bureau Limited would enhance students’ employability through internships, research and industry exposure.
“This lecture is one way we as a university are forging synergy with industry,” he said.
“Our students stand to benefit from structured internships, industry exposure, and targeted employability training, while our faculty will engage in joint research and knowledge exchange that strengthens both academic output and industry practice,” Jimoh added.
He noted that the partnership, formalised in January 2026, focuses on finance, data science and credit management, positioning the university as a driver of economic transformation.
“For us, theory must meet practice on our campuses while practice must reflect grounded theories in our communities. This is the only way universities can contribute meaningfully to national development,” he said.
Also speaking, the Dean of the Faculty of Management and Social Sciences, Dr Rahman Mustapha, underscored the importance of trust in building a sustainable financial and entrepreneurial ecosystem.
“The future of finance and entrepreneurship in Nigeria rests on your shoulders, and trust remains the currency that will sustain your endeavours,” Mustapha told students.
He described the lecture as timely, noting that stronger collaboration between academia and industry is essential for preparing students for real-world challenges and driving national development.
By: Fabian Apechihin
The Kaduna State Government under Governor Uba Sani has allegedly ordered the arrest of political activist Zamani Musa, popularly known as Mycah Dangata, following comments in which he urged residents to vote against the ruling All Progressives Congress (APC).
According to sources familiar with the matter, Dangata was reportedly arrested after publicly campaigning against the re-election of President Bola Tinubu and Governor Sani. He was also said to have called on Kaduna residents to reject all APC candidates in future elections.
Sources told SaharaReporters that the activist’s arrest followed the circulation of a video he recorded shortly after the APC primaries. In the video, Dangata allegedly declared support for the National Democratic Coalition (NDC) and former Senator Danjuma Laah, while advocating for a power shift to Southern Kaduna.
A source claimed that Dangata was arrested by Operation Fushin Kaduna, a security outfit established by the state government in collaboration with the Kaduna State Police Command and other security agencies to combat banditry, kidnapping, and illegal arms trafficking.
“He was arrested by Operation Fushin Kaduna, the state security outfit composed of policemen,” the source alleged.
Another source suggested that Dangata may have drawn the government’s displeasure after comparing Governor Sani unfavourably with former Kaduna State governor Nasir El-Rufai.
Activist Criticises Governor Sani
In a video obtained by SaharaReporters, Dangata, speaking in Hausa, criticised Governor Sani’s leadership style and political decisions. He praised El-Rufai, arguing that the former governor adopted a more people-centred approach to governance.
According to Dangata, El-Rufai allowed communities greater freedom in choosing their preferred candidates, whereas he accused the current administration of imposing candidates on local communities.
He further urged residents to unite politically against the APC, stating that those concerned about Kaduna State’s future should work together to defeat the ruling party at all levels of government.
“We should vote out Asiwaju (President Tinubu), vote out Uba Sani, and vote out every candidate presented by the APC,” he said.
Dangata described the alleged imposition of candidates as inconsistent with democratic principles and argued that residents should collectively oppose what he characterised as undemocratic practices.
As of the time of filing this report, the Kaduna State Government and security authorities had not publicly responded to the allegations surrounding the activist’s arrest.
By: Fabian Apechihin
Suspected militia members have attacked a community in Katsina-Ala Local Government Area of Benue State, killing one person and setting several houses ablaze before fleeing the area.
According to reports, troops operating under Sector 1, in collaboration with personnel of the Benue State Civil Protection Guards, responded to a distress call at approximately 8:30 a.m. on June 4 following an attack on residents of Mbasa community in Utange Council Ward.
Security operatives swiftly deployed to the area but found that the assailants had already escaped before their arrival.
A preliminary assessment revealed that one resident lost his life during the attack, while several homes were destroyed by fire allegedly set by the attackers.
During a search of the scene, security personnel recovered two empty 7.62mm special ammunition cartridges, suggesting that firearms were used in carrying out the assault.
The victim’s body was later evacuated by family members for burial in accordance with local customs and traditions.
Military authorities stated that efforts are ongoing to apprehend those responsible for the attack. They also confirmed that security presence has been strengthened in the area to prevent further violence and reassure residents of their safety.
Stephen Olufemi Oni, Ilorin
The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned a self-styled native doctor, Olorunbukunmi Taiwo, and his wife, Awolegan Omolola Omotola, for an alleged contract scam to the tune of N1,098,961,500 (One Billion, Ninety Eight Million, Six Hundred and Ninety-one Thousand, Five Hundred Naira Only).
The couple were arraigned before Justice Abubakar Usman of the Federal High Court sitting in Ado-Ekiti on a six-count charge bordering of obtaining money by false pretence and retention of proceeds of crime contrary to Section 17(a) of the EFCC (Establishment) Act, 2004.
Taiwo and Omotola ran into trouble when a widow, Anazia Colina Kenechukwu, a proprietor of a private school in Delta State, petitioned the EFCC alleging that the first defendant, Taiwo, approached her to finance a road construction contract purportedly awarded to him by the Delta State Oil Producing Area Development Commission (DESOPADEC).
Kenechukwu further alleged that a total sum of N1,980,000,000.00 (One Billion, Nine Hundred and Eighty Million Naira Only) was paid into Taiwo’s account domiciled with Access Bank Plc.
Investigation further revealed that the couple invested the proceeds of the illicit activities in the acquisition of two properties in Ado-Ekiti, namely: Town Tavern Lounge, located at No. 1, Ikere Road, off Florence Court School, Ado-Ekiti, and a four-bedroom bungalow located on Florence Court, Irewolede Estate, Ado-Ekiti
The Commission had on Monday, May 25, 2026 secured the interim attachment of the two properties.
Count 2 of the charge reads:
“That you, Olorunbukunmi Taiwo and Awolegan Omolola Omotola, sometime between January 2024 and November 2025, in Ilorin within the jurisdiction of this Honourable Court, with intent to defraud, obtained the sum of N1,098,961,500.00 (One Billion, Ninety-Eight Million, Nine Hundred and Sixty-One Thousand, Five Hundred Naira) from one Anazia Colina Kenechukwu, which was paid to you through Olorunbukunmi Taiwo’s account number 0027303340 domiciled with Access Bank Plc, by falsely representing that same would be used to execute a road construction contract awarded to you by the Delta State Oil Producing Area Development Commission (DESOPADobobEC), a pretence you knew to be false, and you thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”
The defendants pleaded not guilty when the charge was read to them.
Following their pleas, counsel to the EFCC, Sesan Ola, prayed the court to fix a date for trial and order the remand of the defendants.
Justice Usman adjourned the matter until Thursday, June 11, 2026, for hearing of the bail application, and commencement of trial. The judge also ordered the remand of the defendants in the EFCC custody.
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