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Tinubu directs EFCC to channel recovered funds, unclaimed dividends to NELFUND

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President Bola Tinubu has directed that funds recovered by the Economic and Financial Crimes Commission (EFCC), as well as unclaimed dividends and money in dormant bank accounts, be channelled to the Nigerian Education Loan Fund (NELFUND).

The directive is aimed at strengthening the financing of the Federal Government’s student loan scheme and ensuring that more Nigerian students can access funding for tertiary education.

The move is expected to provide NELFUND with additional resources to expand its loan programme as demand for student financing continues to grow.

It also signals the administration’s intention to deploy recovered and otherwise idle public funds towards education and human capital development.

The directive comes as NELFUND continues to disburse billions of naira in institutional fees and student upkeep allowances to beneficiaries across public tertiary institutions.

Jimtunde Sawyer, NELFUND Managing Director, recently said the fund had disbursed more than N322 billion, including about N192 billion in institutional fees and N129.8 billion in upkeep allowances.

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The development is expected to strengthen the sustainability of the student loan scheme, which operates as an interest-free revolving fund, with repayments linked to beneficiaries’ employment and income.

Under the scheme, beneficiaries are expected to repay 10 per cent of their income once they secure employment, while repayment is suspended when they are unemployed.

The President’s directive therefore provides a potential additional funding stream for the scheme while supporting the government’s broader objective of expanding access to higher education.

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Good morning! Nigerian Newspapers Headlines: Osun election: 10 battleground LGs that may decide Adeleke, Oyebamiji race

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1. Ahead of Saturday’s governorship election, the three leading candidates in the poll have intensified their campaigns as they seek to secure victory.

The incumbent Governor, Ademola Adeleke, who is running on the platform of the Accord Party; the candidate of the All Progressives Congress, Bola Oyebamiji; and Dr Najeem Salaam of the African Democratic Congress have been running neck-and-neck, consolidating their holds on their respective strongholds while wooing power brokers in local government areas where they have weaker campaign structures.

2. President Bola Tinubu has called on Nigerians to preserve the unity of the country despite their differences, saying dialogue remains essential to sustaining Nigeria as a united nation.
Tinubu, represented by the Deputy President of the Senate, Barau Jibrin, stated this on Tuesday at the International Conference on Security and National Unity, organised by Jama’atu Izalatil Bid’ah Wa Iqamatus Sunnah in collaboration with the Muslim World League.



3. The Federal Government has intensified efforts to end recurring clashes between farmers and herders. It plans to rehabilitate grazing reserves and establish modern ranching settlements in six areas. The Minister of Livestock Development, Idi Mukhtar Maiha, identified Benue, Plateau, Nasarawa, Kaduna, and Adamawa states, as well as Abuja, as priority areas for the intervention because of their history of farmer-herder conflicts.

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4. A  38-year-old man, identified simply as Michael, along with another suspect, has been arrested by the Lagos State Police Command for allegedly assaulting his 13-year-old stepdaughter. PUNCH Metro learnt on Monday that the suspect was the stepfather of the 13-year-old girl and that she had been repeatedly assaulted before his arrest by the police in the Agege area of the state on Sunday

5. Osun State Governor and Accord Party governorship candidate, Ademola Adeleke, has said he is not intimidated by the alleged support of the Federal Government and some state governors for the All Progressives Congress (APC) candidate ahead of the August 15 governorship election. Speaking on Tuesday during the Arise Townhall Meeting, Adeleke described himself as a “bulldozer.”

6. Seventeen bandits and 10 police officers were killed on Monday when security personnel engaged a large group of armed men moving from Zamfara State into Kebbi State. Two civilians were also killed in the encounter around the Rafin Makuku axis of Sakaba Local Government Area of Kebbi State, the police said.

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7. The presidential candidate of the Nigeria Democratic Congress, Peter Obi, has criticised the acceptance of unverified academic credentials in leadership, warning that it could undermine standards and accountability in society. Obi made the remarks on Tuesday in a statement titled, “By making excuses for unverified certificates, we are planting poison in the soul of our society.”

8. The Lagos Environmental Sanitation Corps, popularly known as KAI, has rescued four nursing mothers and their babies from an illegal dumpsite at Agboju along the Lagos-Badagry Expressway in Lagos State. According to a statement on the agency’s X page on Tuesday, the rescue was carried out on Monday as part of an ongoing inter-agency cleanup of the Lagos-Badagry Expressway corridor aimed at removing illegal dumpsites.

9. The Abia State Police Command on Tuesday confirmed the arrest of a woman, Sara Innocent, for allegedly stabbing her husband, identified as Innocent Nwaoji, to death during a domestic dispute in the Obingwa Local Government Area of the state. The incident occurred on Saturday night at Umuokereke Ngwa in the Obingwa Local Government Area of the state.

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10. Members of the Nigerian entertainment industry gathered on Tuesday for a candle light and Artists’ night to pay their last respects to late actress Tope Osoba, whose death continues to generate controversy and raise unanswered questions. The event, tagged ‘An Evening of Love, Music and Memories’, brought together actors, producers, directors, and fans to celebrate Osoba’s life through songs, prayers, candlelight, and heartfelt tributes

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Wike Declares Abuja Business and Investment Expo Open, Calls for Investments to Drive FCT Growth

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Minister of the Federal Capital Territory (FCT), Barrister Nyesom Wike, has declared open the 2026 Abuja Business and Investment Expo (ABIE 3.0), calling on investors, policymakers and development partners to translate discussions into concrete investments that will accelerate economic growth and position Abuja as a leading investment destination in Africa.

Represented by the Minister of State for the FCT, Dr. Mariya Mahmoud, at the opening ceremony held on Wednesday at the Bola Ahmed Tinubu International Conference Centre, Abuja, Wike said the annual expo should serve as a catalyst for strategic partnerships, investment commitments and measurable economic outcomes rather than remain a ceremonial gathering.

He commended the Group Managing Director of Abuja Investments Company Limited (AICL), Ambassador Maureen Tamuno, and the management of the company for sustaining a platform that promotes investment opportunities in the nation’s capital.

According to the minister, AICL, as the investment promotion agency of the Federal Capital Territory Administration (FCTA), occupies a strategic position in identifying viable investment opportunities, structuring commercially sustainable projects and facilitating partnerships that will contribute to the long-term economic development of the FCT.

Speaking on the theme of the expo, “Building Nigeria’s Capital: Investment as a Catalyst for Economic Growth,” Wike described it as timely and reflective of the country’s development aspirations.

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He said building a globally competitive capital city requires sustained investment in infrastructure, institutions, human capital and public services, as well as stronger collaboration between government and the private sector.

“Abuja Business and Investment Expo 3.0 must not be regarded as another ceremonial gathering. It must serve as a platform for meaningful discussions, credible partnerships, investment commitments and measurable economic outcomes,” he said.

The minister said the ongoing transformation of the Federal Capital Territory is a direct outcome of President Bola Tinubu’s Renewed Hope Agenda, which prioritises infrastructure development, improved public service delivery and an enabling environment for businesses and investors.

According to him, since assuming office, the FCT Administration has completed several abandoned infrastructure projects, commissioned major road networks, and embarked on the construction of new arterial roads, collector roads, bridges and interchanges to improve connectivity across the capital city.

He added that the administration is also extending development to satellite towns while opening up new districts for residential, commercial and industrial investments.

“The President has provided the political will and the necessary support for the implementation of this mandate. Today, the results are visible across the Federal Capital Territory. We have completed and commissioned road projects that had been abandoned for several years, while new infrastructure is creating fresh opportunities for businesses and investors,” he stated.

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Earlier, the Group Managing Director of AICL, Ambassador Maureen Tamuno, said Abuja has witnessed remarkable progress over the past three years through significant investments in infrastructure, urban renewal and public services under the leadership of the FCT Administration.

She noted that the improvements have made the city more connected, competitive and increasingly attractive to local and international investors.

Tamuno described the Federal Capital Territory’s emergence as fourth in the 2025 Presidential Enabling Business Environment Council (PEBEC) Subnational Ease of Doing Business ranking as evidence that reforms aimed at improving the investment climate are yielding positive results.

While expressing satisfaction with the achievement, she stressed that more work remains to be done to unlock the capital city’s full investment potential.

According to her, this year’s edition of the expo was deliberately designed to move beyond policy conversations and attract bankable investments capable of driving sustainable economic growth.

“This year’s edition is about moving from conversations to concrete action,” she said, adding that the expo has evolved beyond an annual event into a meeting point for innovative ideas, strategic collaborations and investment opportunities that promote inclusive economic development.

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She explained that participants would engage in investment forums, exhibitions, business-to-business meetings and policy dialogues aimed at strengthening investor confidence and unlocking opportunities in key sectors of the economy, including real estate, infrastructure, technology, renewable energy, solid minerals, sports and the creative economy.

“Our expectation is that when this expo comes to an end, it will have opened new doors, created meaningful partnerships and laid the foundation for investments that will benefit both Abuja and Nigeria for many years to come,” she said.

Delivering the keynote address, Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, observed that Abuja has experienced unprecedented infrastructure development since 2023 under President Tinubu’s Renewed Hope Agenda and the stewardship of the FCT Minister.

He said the pace of infrastructure delivery has significantly changed the development narrative of the nation’s capital, enhanced investor confidence and strengthened Abuja’s position as one of Nigeria’s fastest-growing investment destinations.

The three-day Abuja Business and Investment Expo brings together government officials, business leaders, investors, financial institutions, development partners and entrepreneurs to explore investment opportunities and forge partnerships aimed at driving sustainable economic growth and development in the Federal Capital Territory and across Nigeria.

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Three dead as two-storey building collapses in Ogun

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No fewer than three persons have been confirmed dead after a two-storey building reportedly sank into the ground on Baale Road in the Ajuwon area of Ifo Local Government Area of Ogun State.

According to the he South-West Zonal Director of the National Emergency Management Agency (NEMA), Saheed Akiode, rescue operation was ongoing.

He said the entire structure would have to be brought down completely to enable rescue workers access everything beneath the collapsed building. He appealed to residents to remain calm, assuring them that emergency responders were doing everything necessary to manage the situation.

“The operation is still ongoing and we need to ensure that the building is brought down to ground level so that we can see what is underneath. The situation is calm, and we urge everyone in the area to remain peaceful. As of yesterday, 12 persons were rescued alive, while three bodies were recovered from the rubble,” Akiode said.

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He added that NEMA immediately activated all relevant emergency response agencies upon receiving information about the incident, noting that personnel had been on the ground since Monday carrying out rescue and recovery operations.

The Chairman of Ifo Local Government, Kusimo Idris, also confirmed that 12 occupants were rescued from the building, including two newborn babies who are less than two months old.

Eyewitnesses and emergency responders said the tragic incident occurred at about 2 p.m. on Monday following a heavy downpour and shortly after a thunderstorm.

Unconfirmed reports indicated that about 15 people were inside the building when the incident occurred.

The collapse is said to have brought down two floors of the structure, leaving only the topmost floor partially intact.

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