Business
Democracy Day: Fiscal Discipline Key To Nigeria’s Sustainable Devt – Auditor-General
…Urges National Assembly to Pass Audit Bill 2022
Joseph Bisi
As Nigerians commemorated a historic milestone in their collective pursuit of a more socio-economically robust nation, the Auditor-General for the Federation (AuGF), Shaakaa Kanyitor Chira, has implored the nation’s leaders and citizenry to intensify their efforts in championing the cause of fiscal discipline and accountability within the public finance system. In a brief conversation with journalists to mark the 2025 ‘Democracy Day’ on Thursday, the AuGF commended President Bola Tinubu’s administration for its ongoing fiscal and tax reform initiatives, describing these measures as essential for enhancing the nation’s revenue generation and budgetary expenditures. Chira explained that transforming the potential benefits of these reforms into tangible gains for the citizenry required more transparent fiscal mechanisms for the monitoring and evaluation of government expenditures, including the auditing processes and the timely appraisal of the Audit report by his Office, free from political interferences. He said: “Today’s Democracy Day is worthy of celebration, given the political history of the country and the prospects for sustainable development. Over the past few years, we have witnessed a series of reform initiatives by both past and present administrations aimed at improving the nation’s fiscal system, particularly under President Bola Tinubu, based on the current Tax Reforms and Fiscal Policy Bills that are being finalized by the National Assembly. “Let me emphasize that these measures are not merely desirable for Nigeria’s sustainable development; the enactment of the four pivotal bills will significantly contribute to stabilizing the financial system while also promoting transparency in public finance and prudent governance at all levels of government throughout the country. “It is imperative to underscore, however, that the role of the Office of the Auditor-General of the Federation (OAuGF) in achieving these laudable objectives may be impeded if the Audit Bill currently before the National Assembly is not enacted into law. “The passage of the Bill, which seeks to augment the AuGF’s role in ensuring accountability, transparency and value for money in government expenditure while empowering the AuGF with administrative and financial autonomy, is crucial for enhancing transparency and accountability within Nigeria’s public finance system that aligns with International Standards of Supreme Audit Institutions (ISSAIs). “Therefore, I seize this opportunity to appeal to our lawmakers in the National Assembly to prioritize the passage of the Audit Bill as a strategic legislative initiative to achieve the commendable goals of the Tax Reforms and Fiscal Policy Bills they are presently finalizing,” the AuGF added.Experts are of the view that the Auditor-General’s call for the passage of the Audit Bill 2022 aligns with the OAuGF Strategic Plan 2024-2028, which encapsulates the objectives of the Office being the Supreme Audit Institution(SAI) of Nigeria, aimed at enhancing public sector governance and accountability. The four principal objectives of the Strategic Plan include Goal 1: Focusing on the enhanced independence and mandate of the OAuGF; Goal 2: to mitigate mismanagement of public funds through more robust follow-up on audit recommendations; Goal 3: to ensure improved financial reporting within the public sector; and Goal 4: to establish the OAuGF as a model institution not only in Nigeria but on a global scale.
Business
FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools
By Joel Ajayi
The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.
Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.
He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.
Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.
“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.
A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.
He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.
Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.
Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.
Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.
The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.
Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.
International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.
“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.
The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.
With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.
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