2027: Senator Sadiq declares for Governorship under APC

The Senator representing Kwara North Senatorial District, Sulaiman Sadiq, has declared his intention to contest the 2027 governorship election in Kwara State under the platform of the All Progressives Congress.

Sadiq made the declaration on Monday while featuring on Television Continental’s Politics Tonight, where he said he was prepared to offer purposeful leadership to the people of the state.

“I have what it takes to govern Kwara State. My experiences span both the private and public sectors, and I believe this combination has prepared me adequately for the task ahead.

“Leadership requires exposure, competence and sincerity of purpose. Over the years, I have garnered a gamut of experiences that will be beneficial in driving inclusive growth and sustainable development across the state”, the lawmaker said during the interview.

The senator stressed that the time was ripe for Kwara North to produce the next governor, noting that such a move would ensure balanced development across the three senatorial districts.

“For the sake of equity and fairness, Kwara North deserves the opportunity to occupy the top seat. This will help to attract even development and deepen the sense of belonging among our people,” he said.

Reacting to the opposition’s moves ahead of the polls, Sadiq said the APC was not threatened by the reported plan of the Peoples Democratic Party to zone its governorship ticket to the Kwara Central Senatorial District.

“The APC is not jittery about the PDP’s strategy. We remain the most popular and better-positioned party across the three senatorial districts, and we are confident of victory in the 2027 general elections,” he expressed.

The senator maintained that the ruling party’s grassroots support and track record in governance would ultimately secure its triumph at the polls, expressing optimism that the electorate would reward competence and continuity in the forthcoming election.

Our correspondent reports that the All Progressives Congress in Kwara State had fixed Tuesday, March 3, 2026, for its State Congress, as part of ongoing internal party activities across the country.

The exercise, according to a statement on Sunday, will take place at the Arca Centre in Ilorin, the Kwara State capital.

The party said proceedings are scheduled to commence at 10 a.m., with accredited and qualified delegates from across the state expected to participate in the congress.

Reps seeks bill to establish a Nigerian Fintech Regulatory Commission as industry hits $230bn

The House of Representatives on Monday held a public hearing on a bill seeking to establish a Nigerian Fintech Regulatory Commission, as lawmakers disclosed that the country’s financial technology industry is valued at about $230bn.

Sponsor of the bill, Mr. Kayode Laguda, made the disclosure in Abuja during the hearing on the proposed legislation attended by regulators, operators, investors and other stakeholders in the financial sector.

According to the Lagos lawmaker, the proposed commission is intended to strengthen oversight of the rapidly expanding industry, boost investor confidence and protect users of digital financial services.

Laguda noted that Nigeria’s fintech sector is currently regulated by multiple agencies, including the Central Bank of Nigeria, the Securities and Exchange Commission, the Federal Inland Revenue Service and the National Information Technology Development Agency.

He said, “As of January 2024, Nigeria had 250 fintech companies, while the market value of the Nigerian fintech industry was projected to be around $230bn according to a McKinsey & Company report. As of January 2026, nine of the fintech firms had a combined valuation of $10.6bn, with over 430 fintech firms in 2025. Nigeria’s fintech industry had over 108 billion mobile money transactions, amounting to over $1.6 billion in 2024.

“Earlier reports from the African Development Bank, BusinessDay, Statista, and Financial Times revealed that the Nigerian fintech industry is valued at over $500 million, with over 103 registered fintech startups between 2020 and 2021 due to the COVID-19 lockdown. In September 2021, the fintech industry had raised over $800m in market shares.”

Laguda explained that the proposed Nigerian Fintech Regulatory Commission would provide a unified regulatory framework for operators and investors in the sector.

He said the body would enforce standards and codes of practice, protect consumers from digital fraud and ensure that investors and businesses operate within a stable regulatory environment.

He added that the Commission will operate as an independent institution to protect all fintech businesses and customers across Nigeria from digital threats, scams and online fraud.

Also speaking, Chairman of the House Committee on Digital and Electronic Banking, Mr. Emmanuel Ukpong-Udo, said the bill seeks to address regulatory gaps created by the rapid expansion of the sector.

He said, “The 10th House of Representatives recognises that financial technology is no longer a peripheral segment of our economy; it is a central pillar of financial inclusion, youth entrepreneurship, innovation, and economic competitiveness.

“Nigeria has emerged as one of Africa’s leading fintech hubs, attracting significant domestic and foreign investment, driving digital payments adoption, and expanding access to credit and financial services. However, this rapid growth has also exposed regulatory fragmentation, compliance uncertainties, consumer protection gaps, and supervisory overlaps. Thus, this bill seeks to address these challenges in a structured and comprehensive manner.”

According to him, the proposed framework would be aligned with existing regulators to avoid duplication and institutional conflict.

Speaker of the House, Mr. Tajudeen Abbas, described the hearing as an important step towards creating a coordinated legal framework for the industry.

He said fintech had become a major driver of financial inclusion in Nigeria, helping to expand access to credit, support small businesses and create jobs.

Abbas, however, expressed concern over the slow pace of regulatory response to the industry’s growth.

“The absence of a single coordinated framework for fintech oversight has led to fragmented regulations, compliance difficulties, and general uncertainties for investors and consumers alike.

“It therefore becomes necessary to establish a Commission that will act as a coordinating body and eliminate duplication, streamline processes and remove the barriers that stifle innovation,” he stated.

Nigeria’s fintech sector has expanded rapidly in the past decade, driven by high mobile phone penetration, a large unbanked population and increasing demand for digital financial services.

However, operators have continued to raise concerns over regulatory overlaps, licensing bottlenecks and policy uncertainties, as they often deal with multiple agencies depending on the services they provide.

Stakeholders believe a unified regulatory framework will help sustain investor confidence, deepen financial inclusion and ensure that innovation in the sector is properly supervised.