Business
RMAFC Holds Strategic Retreat To Review Remuneration Packages For Political Office Holders
Joel AJAYI
In a significant move towards the implementation of one of its core mandates, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has commenced a strategic retreat in Kano aimed at harmonising reports in the bid to review the remuneration packages for political, public, and judicial office holders across the country.
Declaring the retreat open, the Chairman of the Remuneration and Monetisation Committee (RMAFC), Hon. Mohammed Kabeer Usman, who also serves as the Federal Commissioner representing Gombe State, underscored the importance of the assignment to the stability and growth of Nigeria’s governance structure
Hon. Usman reminded participants that the 1999 Constitution (as amended) empowers the Commission to determine appropriate remuneration for political, public, and judicial office holders at all levels. He noted that the Commission had earlier taken some steps towards the review of the remuneration package to reflect prevailing economic realities.
According to him, “The Commission carefully considered a wide range of perspectives, including memoranda from stakeholders, public hearings, and ministerial submissions, while also drawing from economic indicators and remuneration practices in other countries.”
He further explained that the review process was not only about figures but also about sustainability and affordability. “The Commission has equally analyzed the capacity of government to implement the review package, ensuring that recommendations remain fair, realistic, and sustainable,” he stated.
Speaking further, Hon. Usman disclosed that the Committee was directed to harmonise the earlier report and subsequent addendum into a single document so as to provide a clear and comprehensive framework for implementation.
He appealed to members to bring their diverse experience and knowledge to bear, stressing that the retreat must produce outcomes that are balanced and beneficial to all. “I implore everyone to contribute towards achieving the purpose of our gathering, given our varied knowledge and wealth of experience,” he said.
The retreat is expected to set a sustainable framework for political, public, and judicial office holders’ remuneration in line with the mandate of the Commission.
Present at the retreat are RMAFC Federal Commissioners: Hon. Adamu Fanda representing Kano state, Hon. Henry Nduka Awuregu, Hon. Aruviere Egharhevwa representing Delta state, Hon. Hassan Usman Mahmud representing Kaduna stat and Hon. Hauwa Umar Aliyu representing Jigawa state, Hon. (Prof.) Steve Davies Ugbah representing Benue state, Hon. Abdulazeez Idris King representing Kogi State, Hon. Aliyu A. Abdulkadir representing Nassarawa State; and Hon. Nathaniel Adojutelegan reprenting Ondo State.
The Secretary of the Committee, who is also the Director of Fiscal Efficiency in the Commission Dr. Tanimu Adamu Aliyu, FNIM. and other supporting staff were also in attendance.
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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