Former Minister of Information and ardent supporter of President Goodluck Jonathan, Chief Edwin Clark is the latest to write a scathing open letter, this time to former President Olusegun Obasanjo, whom he described as an unrepentant trouble maker, a liar, manipulator and hypocrite guilty of the very accusations he levelled against the current president.
In the 10-page letter titled Let the Truth be Told before it is Too Late,Clark chronicled his relationship with Obasanjo from their time in the administration of General Yakubu Gowon, concluding that Obasanjo’s opposition to Jonathan is the consequence of his failure to manipulate the president.
Hear him: "This indeed is a season of open letters, the session of which you heralded with a contemptuous one to His Excellency, Dr. Goodluck Jonathan, President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. Your eldest daughter and a former Senator. Dr. lyabo Obasanjo, feeling uncomfortable with your antics quickly fired a response to your now infamous letter that has gone viral and continue to generate negative national discourse.
President Goodluck Jonathan GCFR, an amiable gentle man to whom you routed your vicious open letter would not tolerate Presidential aides writing nor commenting on your letter, and so ordered a stay of action. He in his characteristic manner of respect and decorum said he would personally reply. I am quite certain that the President did not want to join issues with a benefactor and former President. He would have wanted the charged atmosphere your open letter orchestrated to ride itself out until normalcy and calm return to the polity, as witnessed in other incitive comments by well placed Individuals in the recent past.
However, as you well intended the echoes of your vicious letter continue to reverberate negatively. The President had no option left but to reply you through the same medium of an open letter. With a deep sense of responsibility the President touched all the damaging allegations you heaped on his administration and today Nigerians are better informed.
In the light of the forgoing, it has become incumbent upon me at this point in our national life to refute some of the issues highlighted in your letter especially about the Ijaws so that Nigerians must know that you are not the saint you claim to be, but a mischief maker, an ego maniac who always wants to play to the gallery. As rightfully put by your daughter lyabo “Nigeria does not belong to Obasanjo”. In addition, I want to buttress the assertion that all Nigerians are equal no matter where they come from, that is, no one is a second class citizen of this nation. You have no right to plunge Nigerians into crisis as your past actions and recent open letter to the President connotes. The generality of Nigerians think your letter is treasonable.
Why I write
Ordinarily, I never intended to join in the affray of accusations and counter accusations between a former President and a sitting President and a daughter in between. But, Chief Olusegun Obasanjo in your usual characteristic hatred and use of sarcastic remarks about Ijaw, you have again berated and insulted us the Ijaws in your letter to Mr. President. Dr. Goodluck Jonathan has never for once acted nor behaved as an Ijaw man since he took office as President, and we hold no grudge against him for that.
Secondly, as a Nigerian and an Ijaw man, I am proud to belong to both entities. Unlike you Obasanjo who is a Yoruba man first before being a Nigerian, I Chief E.K. Clark am the accepted leader of the Ijaws, while unfortunately you, Chief Olusegun Obasanjo, are not accepted as leader of the Yorubas despite being Head of State twice, because you lack the virtues and honour deserving of a Yoruba leader. Your devilish and inciting remarks about the Ijaws are unfounded.
My dear former President, I know my letter will not come to you as a surprise because you know I would respond in equal measure, I have written several open letters to you in the past for your mismanagement of Nigeria affairs with Atiku Abubakar between 1999-2007, when you were the President and he your Vice President. I have also criticized and commented on your incessant interference with the government of Late President, Alhaji Umaru Musa Yar’Adua and I have commented on your unwarranted interference with his administration because of the confusion you generate. Reproduced hereunder is your myopic, rude and irresponsible remarks about Ijaws in your desperate letter to Mr. President:
‘For you to allow yourself to be “possessed” so to say, to the exclusion of most of the rest of Nigerians as an Ijaw man’ is a mistake that should have never been allowed to happen. Yes, you have to be born in one part of Nigeria to be a Nigerian if not naturalized but the Nigerian President must be above ethnic factionalism. And those who prop you up as of, and for ‘Ijaw nation1 are not your friends genuinely, not friends of Nigeria nor friend of ‘Ijaw nation1 they tout about. To allow or tacitly encourage people of ‘Ijaw nation’ to throw insults on other Nigerians from other parts of the country and threaten fire and brimstone to protect your interest as Ijaw man is myopic and your openly quieting them is even more unfortunate. You know that I have expressed my views and feelings to you on this, issue in the past but I have come to realize that many others feel the way I have earlier expressed to you.”
I am indeed very sad and disturbed that you can make such a malicious, mischievous statement about an ethnic group which you did pejoratively knowing fully well that it has no single iota of truth nor foundation purposely to instigate and incite the rest of Nigerians against Mr. President and Ijaw come 2015.
Your statement: “For you to allow yourself to be possessed so to say, to the exclusion of most of the rest of Nigeria as an Ijaw man is a mistake that should have never been allowed to happen” One may wish to ask why you think Jonathan is being possessed by Ijaws in the Presidency? The answer is definitely no. A few following instances may suffice;
i) The NSA in-charge of security in the whole country is Fuiani from Sokoto state.
if) The SGF is Ibo from Ebonyi State
iii) The Principal Secretary to the President is Fuiani from Adamawa
iv) The Commander, Brigade of guards is from Cross River
v) The ADC to the President is from Kogi
vi) His Speech writer is from Edo State, while the Senior Special Adviser on Media is Yoruba from Ogun State
vii)Chief of Staff to the President – Edo State
viii) Principal Secretary to President is Fulani
ix} The Comptroller-General of the Nigeria Custom Service is Fulani from Katsina
x) The Chief of Air Staff is an Ibo from Delta State;
xi) The Chief of Naval Staff is from Kwara
xii) The Chief of Defence Staff is from North
xiii) The Chief of Army Staff is Ibo from Abia
The Inspector-General of Police is Hausa
xiv) The Director-General of DSS is from Cross River
xv) The Director-General of Immigration Service is from Plateau State
xvi) The Director-General of NSCDC is Yoruba from Ogun
xvii) The Executive Secretary of PTDF is Yoruba from Ekiti
xviii) The Chairman of FERMA is Yoruba from Osun while the MD is Ibo from Delta
-xix) The GMD NNPC is from Kaduna State
xx) The Acting DG NTA is from Edo State
xxi) Director-General of Inland Waterways – from the North
xxii) The MD of NPA is Hausa Fulani
xxiii) The CBN Governor is Hausa/Fulani from Kano
xxiv) The FRSC Chairman is Ibo
xxv) The Director-General of NAFDAC is from Benue.
INEC Chairman is Hausa/Fulani from Kebbi
NDDC Chairman is Ibibio from Akwa Ibom State Director-General National Orientation Agency is from Nasarawa State The Economic Adviser to the President is Ibo. The Chief of Protocol to Mr. President is a Yoruba man.
Even in the field of ambassadorial appointments, there is no Ijaw man or woman holding any senior ambassadorial appointment as underlined below:
The Ambassador of Nigeria to United States is Yoruba. The Nigerian Permanent Representative to United Nations is Ibo. The Nigerian High Commissioner to United Kingdom is Hausa/Fulani. Nigeria Ambassador to Russia Akwa Ibom. Nigeria Ambassador to China is Hausa. Nigeria Ambassador to Argentina, Benue. Nigeria Ambassador to France – Yoruba. Nigeria Ambassador to Spain – Ibo.
Out of the 64 ambassadorial posting to various Nigerian missions abroad, only three are Ijaw. No Ijaw person is Vice-Chancellor of any of the 36 Federal Universities.
The President has 18 Advisers approved by the Senate, only Mr, Oronto Douglas is Ijaw. The number of Ijaws in the Federal Civil Service under Jonathan’s Administration has not increased and the number of Permanent Secretaries is only three Ijaws out of about seventy. There are only two Ijaw Ministers out of 42. Only one Ijaw man from Rivers State owns Oil bloc even though most of the oil comes from Ijaw land. No Ijaw man is an oil marketer and no Ijaw man lifts oil. You have agreed that the amnesty programme has not been implemented properly. The second phase which is infrastructure development is yet to take place. The 45-Man Technical Committee recommendations White Paper under the Chairmanship of Comrade Ledum Mittee is yet to be released. This is one of the few areas Ijaw people could have benefited. Where are the Ijaws who have taken possession of President Jonathan?
I shall soon publish the full details of all those who held important federal positions and beneficiaries in line with ethnic quota in your government between 1999 – 2007. This will enable us determine who was possessed by his people and groups that were marginalized to show the extent President Jonathan is possessed by Ijaws. It may be necessary to state that:
1. Hausa language was the lingua franca at the Presidency while Alhaji Shehu Shagari was the President of Nigeria from 1979-1983.
2. Hausa language continued to be lingua franca in the Presidency when the military was in power between1983-1998.
3. Between 1999-2007, the Yoruba language became the lingua franca during your Presidency.
4. Between 2007-2010 the Hausa language returned to the Villa as lingua franca during late Umaru Musa Yar’dua administration and in fact, he was accused of bringing nearly all members of the State Executive to the Federal government. Is the Ijaw language the lingua franca at the Presidency now? The answer is NO.
My Dear Chief Olusegun Obasanjo, you have become an unrepentant trouble maker, as Nigeria gave you more than you truly deserve. Hence you see yourself as lord of the manor. You have without recourse in the past embarrassed all past Heads of State and Presidents in Nigeria through open letters and unsavory comments. In such letters, you have always alleged maladministration, corruption and incompetence against them.
At this juncture, I may wish to quote a piece from a concerned Nigerian, Senator Uche Chukwumereje: “He has since after his first stint in Aso Villa, consistently played the role of the Praetonia Guard pontificating to every successor and awarding marks like a headmaster to each pupil-President. Every regime from Shagari through Buhari to Babangida and Abacha, has benefited (or suffered) from the corrective tongue lashes of the guard.’’
Nigerians are aware that you set the stage for the emergence of Goodluck Jonathan as President of the Federal Republic. But the saying goes that if you present a gift of a goat to a friend you must let go of the tether. You are probably different. Right from the inception of the Jonathan presidency, your body language indicated you wanted to play the role of the piper, that is, dictate how Jonathan runs, the phenomenon you did not tolerate from those who put you in office in 1999.
An incident that played itself out then will suffice. You masterminded the removal of Chief Tony Anenih then PDP Chairman, Board of Trustee, and appointed yourself thinking the position will give you powers to control and manipulate the President. The futility of your actions dawned on you when you realized Jonathan is his own man. And in frustration you resigned as PDP Board of Trustee Chairman. You had thought the President will kneel before you begging that you stay on; but he never did. Every Nigerian therefore, knows that you connived, with PDP renegades and opposition parties to ridicule and undo President Jonathan and the government because he refused to be your puppet.
In the cabinet of General Yakubu Gowon, you always pretended to be the most loyal and honest man. I was in London with General Murtala Muhammed when the coup of 1975 took place. Murtala came back to Nigeria through a KLM flight to Kano, On that fateful day you were at the Kano Airport to receive General Muhammed, and that was how that government was formed and you were part of it. Later, I met you at Dodan Barracks and asked you why you betrayed General Gowon by .going to Kano to receive Muhammed. You explained to me that you were in Kano for sporting activities, which I disagreed with.
You went all out to frustrate and humiliate your Vice President, Atiku Abubakar, when he declared his intention to contest the 2003 and 2007 Presidential elections. You associated him with US Congressman William Jefferson, prompting the FBI to investigate and search his residence in Maryland. The FBI could not find any connection between Atiku and Mr. Jefferson. You were determined to stop your deputy at all cost from contesting the presidential election. A letter from Jefferson to you was handed over to the EFCC to enable it investigate Atiku, to declare him unqualified for the 2007 election. The EFCC report led to the establishment of an administrative Inquiry headed by the Minister of Justice and your boys and girls in the Cabinet. They hastily found Atiku guilty as charged by you. You sent the report to the National Assembly.
You declared Atiku a persona-non-grata, his aides and vehicles were taken from him, and you declared his seat vacant. All these you did as if the constitution of the Federal Republic of Nigeria does not exist. You can see how petty you are. You did all these just because you felt Atiku worked against your third term presidential ambition.
Jonathan not training snipers
My dear Obasanjo, your allegation that President Jonathan is training snipers in preparation for 2015, is a diabolical concoction and a figment of your imagination. As you have no shred of evidence to authenticate this bogus lie. The same is applicable to the supposed 1000 political leaders being on the watch list of the President, Time and time again President Jonathan has said his election is not worth shedding a single Nigerian blood for, which is very much unlike you who played “do or die politics”. You made up these stories to whip up ethnic sentiments not only against Mr. President, but the Ijaws and the entire South South geopolitical zone.
On the security issues stated in your letter I have already stated that the President should leave this serious allegation for the Security agents to investigate for no one is above the law of this country. As I also mentioned in my letter to you, I stated that the contents of your letter is a revisit to your own activities in your eight years rule between 1999 and 2007. The President in his reply referred to the attack of Bayelsa State Government House and the bombing of his personal house in Otuoke, Yenagoa, all in the attempt to assassinate him and cause chaos in Nigeria. He also mentioned the Petrol tanker incident. You were the sitting President in Nigeria at the time, you did not investigate the matter nor comment on it.
I am fully aware of the incident because our late President Alhaji Umaru Musa Yar ‘Adua who was very much embarrassed and seriously shaken by it, discussed the matter with me and he appreciated the role I later played in the matter. That was the beginning of Yar’Adua’s loss of confidence in you. I am fully aware that the late President Umaru Musa Yar’Adua was ready to stop you from meddling and parading yourself with this holier than thou attitude. You were eternally lucky that the late President did not carry out his intention before he fell ill and later passed on.
Your two eldest children, Senator lyabo and Gbenga have publicly denounced you and have sworn not to ever speak nor have any communication with you again until “thy kingdom come” because of the wrongs you did to them. OBJ what manner of a man are you to deserve this? You cannot carry on like a bull in a China Shop. I advise you take some time off to reflect on some of these things.
On a personal note, both of us are regarded as President Jonathan’s father, in fact, according to you after God and his parent you come next before me and others. You and some of your children are always at the Villa for one thing or the other while my children do not know where the Presidency or Villa is. The only position you have not occupied is to rule the Presidency from your Ota farm in Ogun State. In his book “Accidental Public Servant”, El-Rufai stated that you informed your kitchen cabinet or economic committee that they should not disband because you would be ruling Aso Rock from Ota and you needed them.
President Jonathan has not identified himself to the nation as an Ijaw man. He hardly attends their social ceremonies. But he attends social gatherings when invited by other Nigerians from all over the country. I can confirm that apart from Yenagoa and Otuoke his village, in Bayelsa State, President Jonathan has not visited any Ijaw village or town for official function or social outing. He is the most deetribalized President of Nigeria and in most case keeps away from his own people for fear of accusation by you and your cohorts. We have prominent Ijaw politicians both men and women who participated fully in the 2011 election and today they have not been able to enter the Presidency or received any patronage from the Jonathan’s government.
Our people believe this is the sacrifice they have to make. And they are indeed very grateful and appreciative of the roles being played by other Nigerians of all ethnic and religious divides to make their son President.
As the Ijaw leader, I have gone out of my way to remind Mr. President publicly that Nigerians expected much from him hence they voted for him overwhelmingly in 2011 and will vote for him again 2015 if he performs. I have therefore not for once advocated for fire and brimstone or that blood will flow if Jonathan is not elected in 2015. I have gone further to apologize to all Nigerians that if at any time I made a statement that threatened the unity and stability of Nigeria, I should be forgiven. Governor Sule Lamido of Jigawa State himself commended my statement.
It must be recalled that some of the ex-militant leaders like Asari Dokubo, Ateke Tom Boyloaf, etc. have openly attacked Mr. President to the delight and applause of the President’s political opponents. It is therefore very unfair of you to envelope all Ijaws in your attack of President Jonathan and his people. At this juncture, I would like to challenge you to name other Ijaw persons or groups that throw insults on other Nigerians on account of Jonathan. One may therefore wish to ask you to refresh your memory when you recruited Femi Fani Kayode to attack your political opponents including your own ethnic group and you compensated him with a ministerial appointment and kept him until your last breakfast with your other kitchen cabinet members in the Villa. Is it therefore fair to accept Fani Kayode’s recalcitrant and irresponsible statements on other Nigerians, as acting on behalf of an ethnic nationality?
It will be madness of anyone to do so as you have done with Ijaws because of Asari Dokubo’s statements which did not receive the applause of the generality of Ijaws. My people started voting for other Nigerians even though they had no candidates, since 1951. And they formed alliances with other people or political parties in other parts of Nigeria. For instance, in 1959 both late Dappa Biriye and Chief Melford Okilo stood election on the platform of Niger Delta Congress (NDC). Chief Melford Okilo won his election to the Federal House of Assembly.
The NDC entered into alliance with the Northern Peoples Congress [NPC] which was the largest party in Nigeria but had no national spread in the south of Nigeria. It was therefore the NDC alliance with the NPC that made it a national party. It is therefore very arrogant and insulting of you to berate Ijaws as immature politicians. Today, the 17 states of the south are cooperating with one another and meeting from time to time to discuss the progress and unity of Nigeria. We have successfully met in Uyo, Enugu and Lagos. We shall also meet in Delta State soon. In this association, the Ijaws are playing a leading role under my leadership. You may not also know the South-South relationship with the Middle Belt of Nigeria made up of North Central and North Eastern zones,
Mr. former President, 1 will also like to use the language of your daughter, lyabo to describe you to Nigerians. You are “a liar, manipulator, two faced hypocrite” and that “you have an egoistic craving for power and live a life where only men of low self esteem thrive”.
You know over the years, I have always criticized you about your performance starting with the Ibori’s ex-convict case even though he may not have a good case.
Your vindictive and mischievous attitude towards political opponents was unacceptable and very few of us were able to criticize you. You felt former governor Ibori of Delta State and Alameyeseigha, his counterpart in Bayelsa State were being used by the former Vice President, Alhaji Abubakar Atiku, against you and you decided to punish them. But when Ibori gave you money he became your good boy, despite the position held by Delta Elders against him,
In the case of Alamieyesiegha you tried to use his deputy, Dr. Goodluck Jonathan, against him but he refused. You went on to use the Chairman of the EFCC to intimidate members of the Bayelsa House of Assembly and they carried out a kangaroo impeachment to remove him from office. You then immediately directed the security agencies after the impeachment to handcuff the governor and took him to Abuja for prosecution. I also criticized you when you asked your security men to arrest the candidate who was standing against your daughter in the senatorial election in Ogun State even though there was no case against him in Nigeria.
You may also remember my open letter to you published in the Vanguard Newspaper in which I asked you to leave Yar’adua alone to run his government. That you attempted to rule Yar’adua’s government from Ota farm is unacceptable. I quoted the example of France and Great Britain to buttress my case. I continued my attack on you and your cohorts when President Jonathan refused you to run his government from Ota farm. However, everything you asked President Jonathan, he gave to you. The first two important Ministerial appointments, Minister of Agriculture and Minister of Foreign Affairs, who are not politicians were given to you for Ogun State,
You had a hand in almost every appointment in the South West hence the party collapsed in the South West.
El-Rufai said in his book “Accidental Public Servant” that you sent him to General Buhari inviting him to be the Presidential candidate of the PDP in 2011 with Dr. Ngozi Okonjo-Itweala as his running mate. El-Rufai told the story of how together with Dr. Odumegwu, former Chairman of the NPC and two others drove from Lagos to Ota in the night only for you to say that Jonathan should be given another chance. They discovered that your daughter lyabo had won her Senatorial case in a High Court. You can see how petty you are,
You are today one of the richest men in Nigeria if not in Africa. In 1999, it was widely reported in the media that you came out of Gashua Prison very broke. As a matter of fact, it was stated you had N20,000 in your bank account as declared in your Code of Conduct Bureau Form. In just 8 years, as President of Nigeria, you metamorphosed from a struggling ex-head of state, into a life of opulence. You must tell Nigerians the magic behind the sudden affluence. When corruption is mentioned, informed Nigerians know those that foisted the malady on our nation.
The Halliburton bribe scandal and the Siemens case were lightly touched by President Jonathan in his open reply to you. These two high profile corruption cases happened during your tenure as President.
How dare you point accusing fingers at others when you have a cupboard filled with skeletons? You have forgotten the saying that “a man who lives in a glass house should not throw stones”.
The anti-corruption apparatus became a coercive instrument in your hands to browbeat perceived political enemies. Your vendetta against political opponents and those you believed were working counter to your third term ambition knew no limits. Chief Obasanjo your former Minister of Defence, General T,Y, Danjuma, was the first to call you a pauper, when he fell out with you. He tagged you “Stone broke”, a phrase he used to describe your pathetic financial predicament before you came to power.
My dear former President, what do you really want from President Jonathan? Most of the various issues you raised in your letter are mere re-visitation of the many things you did and failed to do in your 8 years of mis-governance.
In conclusion, I would like to borrow the words of Peter Howard, “the petty plans and plots of small minded men rob every nation of their destiny”. This is my new year message and response to your open letter and other subterranean activities designed to destabilize Nigeria because of your personal interest. My best wishes of the season to you and your esteemed family."
EDWIN KIAGBODO CLARK
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Tinubu Meets Bolloré in Paris Over Expanded Investment in Nigeria’s Creative, Digital Economy
President Bola Ahmed Tinubu has held talks with French businessman Vincent Bolloré in Paris on plans to expand investment in Nigeria’s creative and digital economy.
The meeting, held during the President’s working vacation, focused on opportunities to deepen the localisation of operations by the Bolloré Group and increase investment in sectors including film, entertainment, fibre-optic infrastructure and digital services, according to a statement issued by the presidency.
Bolloré and members of his executive team outlined proposed investments centred on Nigeria, highlighting the country’s growing influence in global entertainment through Nollywood and Afrobeats.
The group also expressed interest in expanding its operations and local presence in Nigeria, with the presidency saying the plans could support increased production, investment and employment opportunities in the country.
Tinubu reaffirmed his administration’s focus on economic growth, job creation and digitalisation, while welcoming the group’s reported plans to deepen its activities in Nigeria.
The President said the government would continue to support investments aimed at developing the creative and digital economy, strengthening infrastructure and creating opportunities for Nigerian talent.
According to the statement, Tinubu also emphasised the potential for Nigeria to serve as a base for companies seeking to operate across Africa and international markets.
The meeting comes as Nigeria continues to promote its entertainment and technology sectors as areas of economic opportunity, with the government seeking to attract investment while expanding employment opportunities for young Nigerians.
Tinubu said his administration’s Renewed Hope Agenda seeks to harness Nigeria’s talent, entrepreneurship and growing global cultural influence to create greater economic opportunities and improve livelihoods.
News
Banks Shut 476 Branches as Nigeria’s Banking Landscape Goes Digital
Nigeria’s banks are rapidly abandoning the traditional banking model, shutting down hundreds of branches and cash centres as customers increasingly move to digital and electronic channels.
Data from the Central Bank of Nigeria show that banks closed a net 476 branches and cash centres between 2022 and 2025, cutting the country’s physical banking network by 8.8 per cent in just three years.
The number of bank branches and cash centres plunged from 5,410 in 2022 to 4,934 in 2025, signalling a dramatic shift away from brick-and-mortar banking.
The contraction has gathered pace in recent years.
Banks closed 37 locations in 2023, followed by a much steeper reduction of 229 locations in 2024. Another 210 branches and cash centres disappeared in 2025.
In effect, more than nine out of every 10 locations lost during the three-year period were closed in 2024 and 2025.
The figures, contained in the CBN’s 2025 Statistical Bulletin for the Financial Sector, cover branches and cash centres operated by commercial, merchant and non-interest banks. The data were sourced from the CBN and the Nigeria Deposit Insurance Corporation.
Lagos bears the biggest hit Lagos, Nigeria’s financial powerhouse, recorded the largest decline.
The state had 1,602 bank branches and cash centres in 2022. That figure dropped to 1,532 in 2023, 1,521 in 2024 and just 1,444 in 2025.
That represents a loss of 158 locations, or nearly 10 per cent, in three years.
Despite the closures, Lagos remains overwhelmingly dominant, accounting for almost 29 per cent of all physical banking locations in Nigeria.
The Federal Capital Territory also suffered a significant contraction. Abuja went from 400 locations in 2022 to 362 in 2025, a decline of 38, or 9.5 per cent.
But some states experienced far more dramatic cuts.
Ekiti lost almost half of its banking locations, falling from 107 in 2022 to just 57 in 2025 — a staggering 46.7 per cent decline.
Enugu lost 44 locations, dropping from 162 to 118, while Oyo shed 41, falling from 237 to 196.
Other notable declines were recorded in Ondo, Plateau, Osun, Cross River and Rivers.
Northern banking centres also feel the squeeze
The contraction was not confined to the South.
Kano, for instance, initially expanded its banking footprint, rising from 164 locations in 2022 to 183 in 2024. But the reversal was sharp in 2025, when the figure crashed to 157.
Kaduna followed a similar pattern. Its locations climbed from 148 in 2022 to 164 in 2024 before falling back to 146 in 2025.
Yet not every state is losing branches.
Delta recorded the strongest expansion among the states highlighted, adding 23 locations and rising from 173 in 2022 to 196 in 2025.
Edo added 10, while Jigawa and Kogi gained six and five locations respectively.
A widening banking divide
The figures expose a striking disparity in access to physical banking infrastructure across Nigeria.
While Lagos had 1,444 branches and cash centres in 2025, Yobe had only 23, Taraba 26 and Zamfara 28.
Bayelsa and Gombe had 31 each, while Ebonyi had 32.
The imbalance underscores how heavily physical banking infrastructure remains concentrated in Nigeria’s major commercial and economic centres.
The bank branch may be losing its battle
The shrinking branch network comes despite the number of banks operating in Nigeria initially increasing.
The country had 32 banks in 2022, 33 in 2023 and 35 in 2024, before the figure slipped slightly to 34 in 2025.
That means the branch closures cannot simply be explained by a shrinking number of banks.
Instead, the figures point to a much bigger transformation: Nigerian banking is moving away from physical locations and towards digital platforms.
The CBN has itself been pushing greater adoption of alternative payment channels, particularly among farmers, traders, small businesses and informal-sector operators who may have limited access to conventional banking services.
Speaking at the 2026 CBN Fair in Lokoja, the Acting Director of Corporate Communications and Investor Relations, Hakama Sidi-Ali, stressed the importance of alternative payment channels in expanding financial access and stimulating economic activity.
The message from the numbers is even clearer.
The era of banking halls on every major street may be fading.
With hundreds of branches disappearing in just three years — and the pace of closures accelerating — Nigeria’s banking industry is betting increasingly on phones, apps, electronic payments and other digital channels rather than physical walls and counters.
For millions of Nigerians, the next bank branch may no longer be a building. It may be sitting in their hands.
Business
In The Spotlight
Dangote: OPM Made You 36th Globally—How Many Investors Will Become Billionaires?
Alhaji Aliko Dangote has done what very few Africans have ever done. He has built a business empire of extraordinary scale, crossed the $50 billion mark in personal wealth, and reportedly risen to the 36th position among the world’s 3,397 billionaires.
That is an achievement Nigerians can acknowledge. But today, I want to ask a different question. Alhaji Dangote, how many of the Nigerians who are now investing their hard-earned money in your businesses will you help turn into millionaires—and eventually billionaires? That, in my view, is the more important question. Because behind every great fortune is an army of people whose money, labour, patronage, trust and participation helped create that wealth. And that brings us to OPM—Other People’s Money.
Other People's Money Built More Than One Fortune
Let us be honest: no business empire is built by one person alone. Investors provide capital. Banks provide financing. Workers provide labour. Consumers provide revenue. Suppliers provide goods and services. Governments provide infrastructure and an operating environment. And ordinary Nigerians have been buying Dangote products for decades. Now, Nigerians are being invited to take another step—from being customers to becoming owners.
The public offering of shares in the Dangote Petroleum Refinery gives ordinary Nigerians an opportunity to put their money into one of the country's biggest industrial projects. That opportunity comes with risk, of course. Nobody should invest money they cannot afford to lose, and nobody should assume that buying shares automatically guarantees wealth.
But there is a bigger principle here.If Nigerians are going to put their money into Dangote's business, Nigerians should also have a meaningful opportunity to participate in the wealth that business creates.
Don't Take Nigerians for Granted
Alhaji Dangote, Nigerians have supported your businesses.They have bought your cement.They have bought your sugar. They have bought your flour. They have bought countless other products connected to your business empire.Nigerian workers have built factories, transported products, operated plants, sold products and provided services.
Now, ordinary Nigerians are being asked to invest directly. That creates a responsibility—not merely to shareholders, but to the broader Nigerian public.
Don't take Nigerians for granted. Treat the small investor with the same seriousness you would give the institutional investor. Give shareholders transparency. Give them accountability. Give them information. Give them confidence that their money is being managed responsibly. And when the business succeeds, shareholders should have the opportunity to benefit from that success.
Your Greatest Legacy Should Be Bigger Than Your Net Worth
There is nothing wrong with becoming extraordinarily wealthy by building successful businesses.But there comes a point when the conversation should move beyond “How much is Dangote worth?" The more interesting question becomes:How many people became wealthy because Dangote built these businesses?
Imagine the impact if hundreds of thousands of Nigerians who invest today eventually build substantial wealth from their investments. Imagine a young Nigerian who starts with a modest investment and, over decades, builds an investment portfolio capable of paying school fees, buying a home, funding a business or securing retirement. Imagine Nigerian families passing shares from one generation to another. That is how an ownership culture is created.And Nigeria desperately needs an ownership culture.
We Need More Than One Dangote
Nigeria does not simply need another Dangote. Nigeria needs 10,000 Dangotes in different industries.
We need Nigerians who build technology companies, manufacturing companies, agricultural businesses, energy companies, financial institutions, pharmaceutical companies and global brands.But we also need millions of Nigerians who can become shareholders in those businesses. A country becomes economically stronger when wealth creation spreads beyond a handful of extraordinarily wealthy individuals.
The refinery therefore presents an interesting test. Can a Nigerian industrial giant create not just a massive fortune for its founder, but also a new generation of Nigerian investors? Can ordinary Nigerians who put their money into the company eventually look back and say:I was there when it started, and I benefited from its growth”?
That would be a powerful story.
From Billionaire to Wealth Creator
Dangote has already demonstrated that he knows how to create enormous corporate value. The next challenge is different.Can he help create enormous shareholder value for ordinary Nigerians?That is where the conversation about his $51.3 billion fortune becomes relevant.
If one man's wealth can grow by tens of billions of dollars, Nigerians are entitled to ask whether the people who invest alongside him can also experience meaningful wealth creation. Not necessarily overnight.Not necessarily without risk. But over time.That is what investing is supposed to be about.
The Question Nigerians Should Keep Asking
So, Alhaji Dangote, congratulations on reaching another extraordinary milestone.But don't stop at building your own fortune. Build an ecosystem in which others can build theirs. Don't let Nigerians remain merely consumers of Dangote products. Make them owners. Don't let the story end with one Nigerian becoming one of the world's richest people. Let the next chapter be about thousands, perhaps millions, of Nigerians building meaningful wealth through ownership and investment. Because the real measure of an economic giant is not only how high the founder climbs. It is how many people rise because of the platform he created.
So here is the question Nigerians should be asking: Aliko Dangote, OPM has helped take you to the 36th richest person in the world. Now that Nigerians are putting their own money into your empire, how many of those investors will you help turn into millionaires—and, ultimately, billionaires? That is the legacy question.
By Emmanuel Emeke Asiwe (EEA) Publisher/Editor-in- Chief)
In The Spotlight
Mixed metaphors: Eating them young
On this page, I have praised former Minister Nasir el-Rufai for his work in the Federal Capital Territory.
As governor, I praised some of his work, including when he fired state teachers. I also criticised him when he became arrogant and presumptuous.
Powerful people tend to misjudge distance, in terms of how long they will remain powerful, as well as the depth of their relevance, measuring how power, once in the hands of others, can remain in their favour.
El-Rufai made both miscalculations. Following over two decades of untouchability in power from Olusegun Obasanjo to Muhammadu Buhari, he has now spent 200 days in pre-trial detention on ICPC and DSS charges.
This should not happen to a citizen, any citizen. But some citizens, when fate grants them the winning lottery ticket, become Cronus, the Titan in Greek mythology who, to maintain his power, swallowed five of his six children soon after birth.
But not Zeus, his youngest son, who miraculously survived and, becoming the supreme ruler of the Olympian gods and the “Father of Gods and Men, “would exact vengeance.
In power, el-Rufai forgot not only the principle of right and wrong, but also the concept of justice.
But it was right there the whole time: on the flip side of injustice. The truth is that wearing glasses to be able to see arms, nobody to see through clouds.
Last Tuesday’s disruption by political thugs of the visit to Benue State of Peter Obi, the presidential candidate of the Nigeria Democratic Congress, is an early reminder of the temptations of power in a Nigerian election year.
The ruling party controls the state, which is in the thick of Nigeria’s insecurity crisis. Its governor, Hyacinth Alia, is a Catholic priest. Having, in 2025, been involved in trying to prevent the same Obi from a humanitarian visit, claiming that his intervention was purely on security grounds, Mr Alia is trying to persuade the country that his are not the hands behind the crude attempt to stop, particularly Mr Obi, from travelling freely and safely in the state.
As Minister Festus Keyamo wisely said, this kind of menace is not a part of our democracy. Mr Alia, show the world your strengths, not your limitations.
Big news: the 2024 Auditor-General’s Non-Compliance report, published last month, identified over N1.34trn in audit lapses.
It found that the National Cash Transfer Office paid N33.751 billion to 3,295,207 households in 35 states in 2023 with no evidence that the money reached genuine beneficiaries.
The Office could not produce REMITA records to authenticate the payments. SERAP has written to President Tinubu demanding a published audit trail and investigation of the flagged N78.8bn in total irregularities.
Similarly, Femi Falana (SAN) has called on the EFCC to investigate and prosecute officials.
Given that we are dealing with a specific regime of governance coated in colours of ruthlessness, it is doubtful that these calls will yield anything.
The truth is that the situation is worse than what we know so far, and so, I have a different call: that Nigerians pay close attention to what is actually a long-running looting spree of our poorest and most vulnerable. There is a scorched-earth assault going on.
I begin in 2019, the start of the second term of the fake anti-corruption champion Muhammadu Buhari:
The Auditor-General’s 2019 report on the FGN Consolidated Financial Statements discovered that 36 MDAs made individual transfer payments,totalingN15,534,467,561.26, without identifying the beneficiaries, ignoring the relevant budget lines for “Transfers–Payment to Unemployed” and “Transfers–Payment to Aged/Vulnerable Group.” The Auditor-General flagged the risk of “diversion of public funds” and “misapplication of funds.”
The 2020 report is more curious. In the MDA-by-MDA budget-performance schedule, the National Social Investment Office shows: Approved Budget N0.00, Supplementary Budget N0.00, Total Budget N0.00, but the actual spending is N275,010,764,595.02! That is, the NSIO somehow recorded spending N275bn with no budgetary authorisation at all.
Surely, somebody has an explanation?
The 2021 Non-Compliance report, Volume II, found under the Ministry of Humanitarian Affairs that N54,630,000,000 in N-Power Batch C1 stipends (the August–December 2021 backlog) was recorded as paid but, per the Auditor-General’s own field visits, “was not actually effected to the beneficiaries.”
The same section found N2,617,090,786 paid for the National Home-Grown School Feeding Programme (COVID-19 period), the Auditor-General recommending full recovery to the Treasury: a combined N58.05bn flagged in that one ministry in that one year.
Surely, somebody has an explanation?
The 2022 Non-Compliance file is titled as Volumes I and II merged, but despite that filename, Volume II appears to be absent, as it excludes Humanitarian Affairs, NSIPA, NCTO or NASSCO, meaning that their work was either not audited at all, or that that specific audit has yet to be published.
Again, and similarly, despite examining the two volumes of the 2023 Non-Compliance report, neither the Ministry of Humanitarian Affairs, NSIPA, NCTO, NASSCO, N-Power, GEEP nor school feeding appears anywhere, although many other agencies were thoroughly audited.
Surely, somebody has an explanation?
That brings us to the 2024 itemised findings SERAP has publicized: N33.751bn in cash transfers with no beneficiary confirmation; N36.744bn paid in December 2023 without prepayment audit; N4.616bn in unsupported expenditure which the Auditor-General says “may have been diverted”; N350.18m in enrolment payments to state coordinators with no supporting documentation; N89.51m for store items never delivered or logged; N17.42m in diesel cash advances with no traceable purchases; and at NASSCO, N2.24bn paid through 158 vouchers without prepayment audit.
These appear to be the patterns that Nigerian MDAs exhibit in their work every year, with vulnerable Nigerians exploited every year.
But the first challenge is for journalists to track Humanitarian Affairs/NSIPA through every audit year to establish the full carnage.
There is another crisis: that despite all of this, a lot of MDAs still fail to submit audited accounts to the Auditor-General, representing one of Nigeria’s worst accountability challenges. This is a problem that worsened significantly under the Buhari administration despite his anti-corruption rhetoric. According to the Auditor-General, the 2016 audit year saw the highest number of non-submissions (324) in modern Nigerian history: more than double the previous 22-year high of 148. In 2016-2017 alone, 436 agencies failed to submit accounts. Think about that.
President Bola Tinubu is in the middle of a three-week foreign trip, departing without formally informing the National Assembly or handing over to Vice President Shettima, violating the constitution.
For a man who is seeking a second term of office, this is a stark reminder of how little the rules, or for that matter, Nigeria, really matter to Mr Tinubu. Keep in mind that when he headed north, Mr Shettima headed south, to Angola.
The general debate of the 81st United Nations General Assembly will begin on 22 September. Mr Tinubu is scheduled to speak the following morning.
At a time of chaos and doubt in his leadership, and in democracy under his watch, he will confront the theme: “Restoring trust, managing transformation: a United Nations that delivers for all.”
By Sonala Olumhense