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The Collapsed 21-Storey Building Was Sealed By Lagos State Government In 2020



The 21-storey building that collapsed today at Musikiu Junction by Gerard Road, Ikoyi, Lagos, was sealed by the State government last year to “prevent calamity”.

Unfortunately, it appears the building was later unsealed and construction continued until it collapsed today, November 1, at about 2:25 pm.

In July 2020, it was reported that Sanwo-Olu had sealed the Gerard, Ikoyi high-rise.

At the time, a source was quoted as saying that the State Government took the action to seal the building in order to ensure that what happened with Lekki Gardens Estate when its on-going six-storey building collapsed on March 8, 2016 would not be witnessed again in the state.

The source said: “It is unheard of that the owners of the Ikoyi project in question would embark on such a capital intensive project without obtaining required approvals for a project as massive as that.

“Gone are the days of negligence on the part of the Government when people flout the law. Sealing up the project is law taking its due course.

“The owners of this project have shown themselves to be defiant and obstinate, in that the State Ministry of Land and Physical Planning had been calling on them (to) without paying attention to what the Ministry had been calling their attention to.

“It does not benefit the state to stop economically viable projects like the project on Gerrard Road in Ikoyi, but the responsibility falls on the government that all rules and regulations guiding such buildings are strictly adhered to.

“What the government has done is to halt further construction with a view to assessing and evaluating the extent to which the builders had adhered to the building code. The state will take it up from there.

“The government will not fold its arm and watch people behave recklessly without order and accountability. We are talking about people’s lives here. The state will no longer tolerate such attitude from anybody no matter how highly placed they may be.”

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Tinubu denies demanding N50bn monthly from former Lagos Gov, Ambode




The presidential candidate of the ruling All Progressives Congress (APC) Asiwaju Bola Tinubu has denied reports alleging that he demanded N50 billion monthly from the former Lagos State Governor, Akinwunmi Ambode during his administration.

DAILY POST reports that Ambode who emerged governor of the state in 2025, had only four years in office as his attempt to secure a second tenure failed after he lost the APC primary election in 2018.

A report recently emerged online alleging that part of his inability to secure the APC governorship ticket in 2018 was his refusal to remit the said amount to Asiawaju.

Debunking the report on Tuesday, a statement by the Director, Media and Communications for Tinubu Campaign Organisation(TCO), Bayo Onanuga said Tinubu could not have made such a demand.

“The spuriousness of the statement is in the evidence that Lagos did not begin to clock N50 billion revenue until after Ambode left office.

“Tinubu could not have demanded a billion monthly payment from Ambode when the state government didn’t make such in a month throughout the tenure of Ambode”, the statement added.

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CBN Illegally Printing Money For Buhari Government – Moghalu




Nigerian Central Bank Illegally Printing Money For Buhari Government While Pretending To Be Fighting Inflation – Ex-Central Bank Deputy Governor, Moghalu

The former Deputy Governor of the Central Bank of Nigeria (CBN), Professor Kingsley Moghalu has blamed the nation’s worsening economy on the Minister of Finance, Zainab Ahmed, describing her fiscal mismanagement of Nigeria as a ‘calamity’.

Moghalu, who contested to be Nigerian President in 2019 under the platform of the Young Progressives Party (YPP) and lost to President Muhammadu Buhari, regretted that the nation’s apex bank which is supposed to check the excesses of the ministry of finance and the political elite has compromised under the leadership of Godwin Emefiele.

The Anambra-born political economist, who took to his Twitter handle @MoghaluKingsley, accused the current leadership of the CBN as an appendage of the government rather than being independent. “It sees itself as a quasi-fiscal agent, using its ability to print money, for the government of the day,” Moghalu said.

He said the wheels have come off the Nigerian economy, which he described as a victim of a mismanaged fiscal space and a deeply compromised central bank that has sold its soul to politicians and private sector profiteers.

Moghalu stated in the tweet, “It’s not often I agree with Nigeria’s Minister of Finance Zainab Ahmed. Not because of anything but because I fundamentally disagree with what I consider her fiscal mismanagement of Nigeria. But at least she recently gave an honest assessment of how broke-assed Nigeria is now.

“As for my dear beloved @cenbank and its Governor, the less said the better. For that, I believe, is the ultimate calamity. Why? Normally, the Finance Minister directly answers to the President. Where a federal government is not reform-oriented as in the President Obasanjo era the Minister can be subjected to negative political pressure if he/she is not a strong, respected and accomplished personality like @NOIweala, of whom politicians were wary because she wasn’t exactly into one-chance bus travel masquerading as “fiscal management”.

“Moreover, President Obasanjo protected her and her reforms. President @GEJonathan strongly backed her, even if “parallel” other activities that were kept beyond her remit, eg in the petroleum sector, went on. But where a @cenbank is truly independent, as we were in our time, it can serve as a check, in the national interest, on the worst excesses of profligate politicians that often dot Nigeria’s landscape of high-level public appointments.

“In the current scenario, the leadership of the Bank evidently does not believe in the concept of central bank independence in its operations. Rather, the Bank asks “how high?” once the Presidency says “jump”. It sees itself as a quasi-fiscal agent, using its ability to print money, for the government of the day. This is what the rent-seekers and parasites that benefit from this situation justify as “unorthodox” central banking (as in, of course, central banking in Zimbabwe and Venezuela).

“Well, what’s the result today? Between a mismanaged fiscal space and a deeply compromised central bank that has sold its soul to politicians and private sector profiteers, the wheels have come off the Nigerian economy. If the CBN is busy printing money for the government through illegal Ways and Means lending, and then pretends to be fighting inflation by belated raises of the Monetary Policy Rate and what one commentator aptly termed a “dubious” cash reserve ratio policy on commercial banks, how can we fight inflation successfully?

“Please don’t tell me that “inflation is a global phenomenon” just as some will mischievously or ignorantly refer to the levels of debt to GDP ratios of advanced, productive economies. There is a difference between real global challenges and us fundamentally killing our own economy with our own hands in the service of corruption, vested interests, and incompetent political leaders.

“The combined fiscal, monetary and forex calamity superintended by the Federal Ministry of Finance, Budget and Planning, on the one hand, and the leadership of the CBN of the past 7 years, on the other, is a tragedy for Nigeria that could have been avoided. The effects on the lives of the average Nigerian are truly sad to see. This is a cautionary tale for the next President of Nigeria.

“If we want to renew and revive Nigeria’s economy, the right politics will be to do the the RIGHT thing. Let institutions that are statutorily independent be so. Let competence govern critical aspects of our national life.

“After all, when the positive results come eventually, the political leader will take the credit too! This is why I have argued that the problem is not an absence of competence in economic management in Nigeria. The problem is an absence of competent political leadership.

“The CBN is the greatest repository of fine, competent technocrats in the Nigerian public sector today. Other agencies of government have in the past relied heavily on the Bank for the secondment of competent personnel. The same caliber of economists and technocrats are still there. The politics at the top has tied their hands.”

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Armed Bandits Have Invaded Ogun And Osun Forests – Gani Adams Raises Alarm




Aare Ona Kakanfo of Yorubaland Gani Adams has raised the alarm over the presence of terrorists in Osun and Ogun forests.

He urged President Muhammadu Buhari to quickly stop the country’s drift into destruction.

In a statement by his Special Assistant on Media, Kehinde Aderemi, Adams said worsening insecurity would cause further harm to the economy.

Gani Adams

He urged Southwest governors to recruit, at least, 150 local security personnel in each local government to complement Amotekun.

“For instance, the information reaching me today (yesterday) is that the terrorists are in-between Osu forest and Ile-Ife in Osun State, fully armed with various ammunition.

“They are also present in the forest between Abeokuta and Ibadan planning to attack us in the Southwest. This is one piece of information that we need to act on to avoid a possible calamity.

“Yoruba aren’t cowards. So, let everybody in the Southwest be vigilant and be watchful in checking this insecurity scourge,” he said.

Adams decried the worsening insecurity across the country.

The statement added: “We now have a situation in which family members are being forced to raise N100 million naira to pay as ransom.

“The money is delivered to these terrorists to buy more weapons and the government is merely watching.

“After every abduction, the President will summon Service Chiefs to a meeting, a statement will be issued and that is the end of it. What we will hear next is another abduction or series of kidnappings.

“The insecurity situation has reached its peak with the threat by these terrorists to kidnap the President, governors and lawmakers.

“Presidential advance team was attacked in Katsina and even soldiers guarding the president were attacked in Abuja. Some of them were killed.

“It looks as if this administration has decided to force Nigerians to seek self-help.”

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