News
FG Inaugurates Technical Committee On Establishment of National Youth Bank
Joel Ajayi
In a determined effort to empower young people, cultivate their potential, and support their ambitions in ways that will create lasting change, the Federal Government has inaugurated a technical committee to establish the national youth bank.
While addressing the committee members at a brief inauguration ceremony held in his office, the Honourable Minister, Federal Ministry of Youth Development, Comrade Ayodele Olawande, said the committee members’ job is to guide the establishment of the Youth Bank in every critical aspect: its governance structure to operational model, from the types of financial services it will offer to how it engages with young people.
The Minister tasked the committee to establish a strong foundation in order to ensure that the Youth Bank becomes a vibrant and sustainable institution, adding that the committee is responsible for designing a comprehensive strategy for the bank, as well as developing operational and governance frameworks that will guarantee transparency, accountability, and long-term success.
He emphasized that the committee will focus on identifying and building partnerships with financial institutions and other stakeholders to ensure that the Youth Bank has the resources and support needed to expand and achieve its goals and also committed to creating an inclusive environment where youth from diverse backgrounds can access the opportunities, regardless of their socioeconomic status, gender, or geographic location.
“The vision for the Youth Bank is to deliver on the Presidential Mandate delegated to the Ministry of Youth Development to create a dynamic platform where young people can access the financial support, resources, and mentorship necessary to translate their ideas into action.
“The Youth Bank is an institution designed to provide young people with not just the financial capital but also the necessary capacity-building, guidance, and opportunities they need to thrive. The Bank will serve as a platform that empowers youth to become the leaders, innovators, and entrepreneurs of both today and tomorrow,” the Minister stated.
Olawande expressed appreciation to the Development Bank of Nigeria for agreeing to co-chair the event, as well as to the Central Bank of Nigeria, the Bank of Industry, the Ministry of Finance, and the Nigerian Sovereign Investment Authority. He also commended the management staff of the Ministry for their commitment and dedication to supporting the youth and affirming the nation’s belief in their capabilities.
In his welcome address, the Permanent Secretary of the Ministry of Youth Development, Mr. Olubunmi Olusanya, spoke extensively on the committee’s importance. He observed that despite Nigerian youth’s remarkable potential, many young people lack the resources, networks, and financial support needed to fully realize their ambitions.
Mr. Boneventure Okhaimo, a representative from the Bank of Industry, expressed the readiness of the bank to work with the Ministry and other stakeholders to actualize the vision of President Bola Ahmed Tinubu’s administration, while outlining the significance of the committee and its relevance to the success of the Youth Bank.
In his own contribution, Mr. John S. Onoja, representative of the Central Bank of Nigeria (CBN), affirmed the commitment of the apex bank to ensure speedy registration and licensing of the Youth Bank as soon as all necessary criteria are met.
Foreign news
Algeria’s Glorious Revolution: Embassy Marks 72nd Anniversary in Abuja
Joel Ajayi
The Embassy of Algeria in Nigeria has commemorated the 72nd anniversary of the country’s Glorious Revolution of November 1, 1954, with a reception in Abuja, highlighting Algeria’s liberation struggle and strengthening diplomatic relations with Nigeria.
The event, held on November 9, 2026, at Continental Suites Hotel, attracted prominent personalities, including the Speaker of the House of Representatives, Dr Tajudeen Abbas, members of the Federal Government, senior government officials, heads of diplomatic missions and other friends of Algeria.
Speaking at the reception, Algeria’s Ambassador to Nigeria, Hocine Mezoued, welcomed guests and paid tribute to the country’s freedom fighters who sacrificed their lives during the struggle for independence.
He described the November 1, 1954 revolution as the foundation of modern Algeria, noting that the sacrifices of the nation’s martyrs made it possible for the country to reclaim its sovereignty.
On Algeria’s development agenda, Mezoued said President Abdelmadjid Tebboune’s administration had continued to pursue economic reforms, diversification and national development under its New Algeria vision.
He noted that the country was recording progress in non-hydrocarbon exports, while improvements in the business environment had boosted investor confidence and attracted significant foreign investments.
On foreign policy, the ambassador reaffirmed Algeria’s commitment to non-interference, respect for national sovereignty, peaceful conflict resolution and the right of peoples to self-determination.
Addressing security challenges in the Sahel, he stressed that lasting peace could not be achieved through military measures alone, insisting that economic development, inclusive dialogue and peaceful resolution of disputes remained essential.
Turning to Nigeria-Algeria relations, Mezoued described the partnership as one founded on shared values and the commitment of both countries’ leaders to advancing African development.
He identified the Trans-Saharan Highway, Trans-Saharan Gas Pipeline and Trans-Saharan Fibre Optic Backbone as major strategic projects receiving attention from both countries.
The ambassador also disclosed that Algeria had continued to provide scholarships to Nigerian students to strengthen human capital development and capacity building.
He further announced that Air Algérie expanded its Nigerian operations on October 26, 2026, with the introduction of two weekly flights to Lagos, expressing confidence that the service would boost trade and tourism.
Looking ahead, Mezoued said 2027 would offer fresh opportunities to deepen bilateral cooperation, particularly through the fifth Joint High Bi-National Commission scheduled to hold in Abuja.
He expressed optimism that the meeting would provide an opportunity to assess existing partnerships, identify new areas of cooperation and move Nigeria-Algeria relations towards a more practical and results-driven phase.
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