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Academics, economists, others discuss African development at AFEA 2026 conference
Policy experts, academics, and researchers have stated that strong public policy implementation and debt management can drive good governance in Africa.
They made these remarks during the just-concluded African Finance and Economics (AFEA) 2026 conference, held in Abuja from 3 to 5 July.
Speaking to PREMIUM TIMES, Evans Osabuohein, a professor of economics, said that the discussions at the event focused on public policy and debt management, which are affecting human capital development in Africa.
“It [is] about how public debt can be managed more efficiently in Africa, so that we can tap into the resources for human capital and energy efficiency in this age of innovation. We need human resources that are well-skilled, equipped, and knowledgeable to harness such potential that technology like artificial intelligence present today,” he said.
“Debt is not bad in itself; the issue is when debt is borrowed but is not used for capital investment, the servicing of debt becomes a burden. We have seen this in most African countries where some of the borrowings are not geared towards human capital development.”
Mr Osabuohein, a board member of AFEA, explained that it would be a win-win option for both governments and citizens if public debt is used judiciously, saying that the execution of projects translates into employing the populace to do the labour.
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The three-day international conference, hosted by Nile University Abuja’s faculty of arts and social sciences, brought together scholars, policymakers, and industry experts in the field of economics.
Themed ‘Africa’s Geoeconomic Development Agenda in a Global Realignment Era’, it sought to contribute expert input on shifting geopolitics, climate risk, and development finance across the continent, and drew attendees from Canada, Ghana, Nigeria, and other countries.
Emotimo Agama, director-general of the Securities and Exchanges Commission (SEC); Tope Fasua, an economic adviser to President Bola Tinubu; Tony Okpanachi, managing director of the Development Bank of Nigeria, among others, made up the line-up of dignitaries for the event.
Premium Times monitored breakout sessions at the programme, where participants presented papers on topics including debt sustainability, global financial and health governance systems, digital service delivery, mobile money, financial inclusion, and continental digital markets.
Some sessions also focused on youth, gender, demographic change, and inclusive development; as well as migration, urbanisation, and spatial inequality, with a broad focus on Africa-West relations.
The sessions featured interactive discussions for each paper presenter, including how their research work could be further enhanced.
Participants speak
Abogede Marietu, a PhD candidate of economics at Nile University, described the conference as impactful, adding that it has given her opportunities to learn from scholars in her field.
“Today is actually my first time presenting my work at an international conference, and I think that gives visibility to my work. I have also got to learn from other presenters.”
“It is my earnest desire that the government in Africa would look into the policies that myself and other presenters have come up with, so as to improve the economy, and also aid the livelihood of the citizens of the continent,” she said.
READ ALSO: Africa must act before deep-sea mining becomes a new battleground
Another paper presenter, Ropheka Bot, stated that she found the discussions in the conference “very timely and engaging as experts gathered to discuss current global issues”
Mrs Bot, a lecturer at Bingham University, Karu, said she hopes that governments in Africa would implement some of their research findings to improve development on the continent.
About AFEA
The African Finance and Economics Association (AFEA) is a professional forum for academics and practitioners (government and industry) of finance, economics, and related disciplines interested in the development of Africa.
It seeks to empower the continent through financial growth and sustainable development, with a mission to promote the exchange of information and ideas among professionals and stakeholders in the field while fostering research that advances knowledge on contemporary African development issues.
With Majune Socrates as its president, Gbadebo Odularu sits as the chairman of the board for the organisation.
The Economic and Financial Crimes Commission (EFCC) on Wednesday f2026 arraigned Mr. Ahmed Adamu Dikko, former Managing Director of Port Harcourt Refining Company Ltd (PHRC), before Justice Inyang Ekwo of the Federal High Court, Abuja, on a 12-count charge bordering on money laundering.
The charge, marked FHC/ABJ/CR/360/2026 and dated and filed on June 22 by the Commission’s counsel, Ekele Iheanacho, SAN, listed Dikko and Masterpiece Projects & Investment Limited as first and second defendants respectively.
Dikko, who led the Port Harcourt Refining Company for about four years, pleaded not guilty to a 12-count charge filed against him by the Commission on Wednesday, July 8, 2026.
The EFCC accused Dikko of laundering N1,322,839,112.7 (One Billion, Three Hundred and Twenty-Two Million, Eight Hundred and Thirty-nine Thousand, One Hundred and Twelve Naira, Seven Kobo) in proceeds allegedly linked to contractors engaged by the Nigerian National Petroleum Company Limited (NNPCL) for the rehabilitation of the Port Harcourt refinery, through cash property purchases, undisclosed bank retentions, third-party fund concealment and unauthorised currency conversion, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
Count one reads in part: “That you AHMED ADAMU DIKKO… did directly make cash payment of the dollar equivalent of the sum of N218,375,000.00 to one Hadeija Bashir for the purchase of Plot 558, Abubakar Umar Street, Katampe Extension, Abuja without passing through a financial Institution and you thereby committed an offence contrary to Sections 2(1)(a), 19(d) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 19(2)(b) of the same Act.”
Count eight reads: “That you AHMED ADAMU DIKKO, former Managing Director of the Port Harcourt Refining Company Ltd (PHRC) on or about the 26th of June, 2023 in Abuja within the jurisdiction of this Honourable Court disguised the origin of the sum of N328,710,337.50 (Three Hundred and Twenty Eight Million, Seven Hundred and Ten Thousand, Three Hundred and Thirty Seven Naira, Fifty Kobo) paid into the GTBank Account Plc No. 0123201507 operated by Masterpiece Projects & Investment Limited by OMSA Integrated Services Limited from the transactions involving NNPC Limited allocation of Vacuum Gas Oil for export when you knew that the said sum of N328,710,337.50 constituted proceeds of unlawful activity and you thereby committed an offence contrary Section 18(2) (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Count eleven reads: “That you AHMED ADAMU DIKKO between October, 2022 and May, 2025 did convert the aggregate sum of $77,080 through Ibrahim Isa Yaro which amount did not form part of your known lawful earnings as a former public officer with the Nigerian National Petroleum Company Ltd and you thereby committed an offence contrary to Section 18(2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.”
The defendant pleaded not guilty to the charges when they were read to him.
Thereafter, counsel to the defendant, Okechukwu Ajunwa, SAN urged the court to grant the defendant bail pending the determination of the suit. Iheanacho, however, opposed the bail application.
In his ruling on the bail application, Justice Ekwo granted the defendant bail in the sum of N150,000,000 (One Hundred and Fifty Million Naira) with a surety who must be resident within the jurisdiction of the court and with a landed property valued at not less than the bail sum. He ordered that the defendant be remanded in the custody of the EFCC pending when he’s able to meet the bail conditions.
The matter was therefore adjourned to October 12, 13 and 14, 2026 for trial.
The post EFCC Arraigns Former MD Of Port Harcourt Refinery for Alleged N1.32bn Money Laundering appeared first on Business Today NG.
The Central Bank of Nigeria (CBN) has reiterated that both the commemorative N100 banknote and the standard N100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide.
The apex bank clarified this in a statement issued by Hakama Sidi Ali, the CBN’s acting director of corporate communications, on Wednesday.
CBN explained that the commemorative N100 banknote, introduced to mark Nigeria’s centenary, did not replace the existing standard N100 banknote.
The clarification follows reports that businesses and other Nigerians are rejecting the standard N100 banknote due to doubts about its continued legal-tender status.
“For the avoidance of doubt, the CBN hereby reiterates that both the commemorative N100 banknote and the standard N100 banknote remain legal tender and must be accepted for all transactions nationwide,” the CBN said.
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CBN cautioned individuals, businesses, financial institutions, and other economic agents against rejecting the standard N100 banknote, warning that such action constitutes a violation of the provisions of the CBN Act and undermines confidence in the national currency.
“Such rejection constitutes a violation of the provisions of the CBN Act and undermines confidence in the national currency. The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach,” the statement added.
The regulator reaffirmed its commitment to safeguarding the integrity of the naira, maintaining public confidence in all duly issued banknotes, and promoting the smooth circulation of currency nationwide.
It urged the public and all financial stakeholders to accept and transact with all banknotes legally issued by the CBN.
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