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Unity Schools Alumni Raise Concerns Over Proposed Land Concession

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By Glory Akpan

 

The Unity Schools Old Students Association (USOSA) has raised concerns over the planned concession of lands belonging to some unity schools by the Federal Government.

 

The News Agency of Nigeria (NAN) reports that the members of the association, drawn from over 60 unity schools across the country, expressed their concerns during an awareness walk and rally on Saturday in Lagos.

 

The members, some carrying placards with captions including, “PPP: Save the Future” and “Schools are not for Real Estate”, urged the Federal Government to engage alumni associations in funding and developing the institutions.

 

Speaking at the rally, Humphrey Nwafor, Lagos Chapter President of the Federal Government College, Kano Old Students Association, said the alumni support Public-Private Partnerships (PPP) but oppose the sale of educational assets.

 

Nwafor said 33 hectares of land belonging to FGC Kano was concessioned without adequate consultation with stakeholders.

 

“We are saying there is a better option. Instead of selling our lands and assets, we would rather fund the schools ourselves.

 

“If the government says it does not have enough money to run the schools, the old students can provide support without taking one inch of land,” he said.

 

According to him, the concession arrangement involving the school’s land will undermine the future of unity schools established to promote national integration.

 

“These schools are building the unity of this country.

 

“They were established to unite Nigerians from different ethnic and religious backgrounds.

 

“We are appealing to President Bola Tinubu to intervene and ensure that public educational assets are protected,” Nwafor said.

 

Also speaking, the President-General of USOSA, Jos, Michael Magaji, said unity schools are nation-building institutions that have produced leaders across various sectors.

 

According to Magaji, alumni associations have long contributed to school infrastructure and educational support.

 

He called on the Federal Government to leverage alumni networks in addressing funding challenges confronting unity schools.

 

“We are in solution mode and impact mode.

 

“We believe alumni associations should be integrated into the process of repositioning these schools.

 

“We recently met with officials of the Federal Ministry of Education and discussions are ongoing toward finding mutually beneficial solutions,” he said.

 

Magaji said the association was advocating a sustainable funding model that would preserve educational assets while improving infrastructure, manpower and learning conditions.

 

Similarly, Mr Alex Akindumila, President of FGC Idoani Alumni Association, said the concession controversy was a national test of how public assets and educational institutions were being managed.

 

Akindumila warned that reducing lands allocated to unity schools could limit future expansion, agricultural projects, sports facilities, technical workshops and staff accommodation.

 

“The lands allocated to unity schools were deliberate and visionary.

 

“They were designed to ensure that the schools remain self-sustaining and adaptable to future needs,” he said.

 

He added that the schools remained central to Nigeria’s unity and development agenda.

 

Also, Mrs Ifeoma Okeke, an alumna of FGC Ileja, called for transparency, due process and stakeholder engagement in any PPP arrangement involving educational institutions.

 

She said PPP agreements should align with the public purpose of the schools and not diminish their long-term capacity.

 

“There must be transparency, competitiveness and proper stakeholder engagement in any concession process involving public educational assets,” she said.

 

Mr John Duru, another alumnus of FGC Kano, said alumni associations represented a major but underutilised resource in supporting education in Nigeria.

 

Duru said alumni bodies across unity schools possessed the financial and professional capacity to support infrastructure, curriculum development and innovation without disposing of school lands.

 

“This is about more than land. It’s about legacy.

 

“It’s about whether institutions built with foresight and sacrifice will be preserved with the same care that were built and preserved.

 

“We are not against development or partnership but we are against exclusion and erosion of public educational assets,” he said.

 

Samuel Valentine, an alumnus of FGC Port Harcourt, said the rally was held to support FGC Kano and protest the government’s planned concession of the school’s land.(NAN) (www.nannews.ng)

 

Edited by Folasade Adeniran

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Business

Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

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BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

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FG debunks claims of plans to introduce telecoms, fuel taxes

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The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

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Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

READ ALSO: NRS launches Rev360 to ease tax compliance

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.

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