Nigeria must reconstruct its governance architecture by first rebuilding the accounting and financial foundations upon which it stands, Professor ThankGod Chikordi Agwor has declared.

Delivering the 126th Inaugural Lecture of Rivers State University, Port Harcourt, on Wednesday, the Professor of Accounting and Finance argued that the country cannot move from “managing failure” to governing for development, equity and public trust without restoring discipline to its financial systems.

The lecture, themed “Failure of Governance and Governance of Failure in Nigeria: Unveiling the Accounting–Finance Nexus,” examined what the scholar described as the systemic fragility embedded within Nigeria’s governance structure.

Agwor maintained that accounting and finance are not peripheral technical tools but the very infrastructure of governance.

“Where they are strong, governance is resilient. Where they are weak, governance fails — and failure becomes governed,” he said.

According to him, Nigeria’s governance crisis reflects not only institutional weakness but a deeper structural distortion within the accounting–finance nexus. He described the phenomenon as the “governance of failure” — a condition in which institutional arrangements do not merely tolerate dysfunction but actively manage, rationalise and reproduce it.

“Nigeria exhibits a more troubling phenomenon: the governance of failure. This refers to institutional arrangements and practices that do not merely tolerate failure but actively manage, rationalise and produce it,” he stated.

Despite its abundant natural and human resources, Nigeria, he noted, continues to struggle with institutional inefficiencies, entrenched corruption and declining public trust. While leadership failure, corruption and weak political will are frequently cited as explanations, Agwor argued that such narratives often obscure the deeper challenge of informational asymmetry and financial opacity.
“Without credible accounting data and enforceable financial discipline, governance becomes performative rather than substantive,” he said.

The inaugural lecturer pointed to troubling empirical patterns: recurrent fiscal deficits without credible fiscal discipline; repeated banking crises followed by regulatory forbearance; public enterprises sustained despite chronic losses; and audit reports that reveal irregularities without sanctions.

“These patterns suggest that failure itself has become institutionalised — rendered predictable, administratively manageable and politically survivable,” he observed.

He further explained that weak enforcement environments have produced what he described as a governance equilibrium that perpetuates failure. Public and civil servants, he argued, have rationally adapted to these conditions, sustained in part by predictable financial incentives that reward compliance with dysfunction rather than reform. “The result is a governance equilibrium that perpetuates failure.

Breaking this equilibrium requires restoring accounting and finance to their disciplinary roles,” he said.

Agwor warned that the normalisation of weak accounting practices — delayed audits, qualified audit opinions without consequences and routine budget deviations — represents the entrenchment of governance failure.

“This normalisation represents the governance of failure; a condition where governance systems adapt to dysfunction rather than correct it. Breaking this circle requires restoring accounting’s disciplinary role,” he advised.

Over the years, the scholar has advanced research bridging accounting, finance, governance and public policy, producing work that is empirically grounded, theoretically rigorous and socially relevant. His contributions, observers noted, have mentored scholars and practitioners who understand that accounting choices are not neutral technicalities but decisions that shape societal outcomes.

The lecture reinforced the argument that sustainable reform must go beyond rhetoric to institutional recalibration — placing transparency, credible financial reporting and enforceable fiscal discipline at the centre of governance reform.

For Agwor, the pathway forward is clear: rebuild accounting, restore financial integrity and reposition governance from managing failure to delivering development, equity and trust.

By Victoria Michael

President Bola Tinubu has approved the extension of the Bonny–Bodo Road to link up with the strategic East–West Road, in what officials describe as a major boost to connectivity in the Niger Delta.

The President also sanctioned the immediate reconstruction of three key federal roads in Niger State.

The approvals were granted during a meeting with the Minister of Works, David Umahi.

Under the new directive, the Bonny–Bodo corridor in Rivers State will be extended to connect directly to the East–West Road. The project will be executed as a dual carriageway and constructed with reinforced concrete pavement to enhance durability. Solar-powered street lighting will also be installed along the stretch.

The linkage is expected to significantly ease transportation challenges, improve access to riverine communities, and strengthen economic activities across the oil-rich region.

In Niger State, the President approved the reconstruction of three major road corridors using reinforced concrete pavement to guarantee long-term value and resilience.

The projects include the 120-kilometre Mokwa–Bida Road, the 63-kilometre Mokwa–Makera Road, and the 123.5-kilometre Bida–Lambata Road.

Officials said the adoption of concrete technology reflects the administration’s commitment to building cost-effective and durable infrastructure nationwide.

The Edo State Police Command has arrested no fewer than 113 suspected kidnappers during a coordinated security operation across strategic locations in the state.

In a statement issued on Thursday, the command’s spokesperson, Eno Ikoedem, said the arrests followed credible intelligence indicating that ransom proceeds from kidnapping operations were being discreetly received and coordinated at Zangos in Agbede and the Iruekpen axis.

The early morning raid was led by the Commissioner of Police, Monday Agbonika, who supervised a joint task force comprising operatives of the Nigeria Police Force, Nigerian Army, Nigeria Security and Civil Defence Corps (NSCDC), as well as local vigilantes and hunters.

“The precision raids yielded the arrest of a total of one hundred and thirteen (113) suspects. All suspects are currently undergoing thorough profiling to ascertain their level of involvement,” the statement said.
“Those found culpable will be made to face the full weight of the law.”

Agbonika described the command’s offensive against kidnapping networks as “relentless and uncompromising,” vowing to dismantle not only armed groups operating in forests but also their financial and logistical support structures.

He urged residents to remain vigilant and provide timely, credible information to security agencies, assuring that all intelligence received would be treated with strict confidentiality.

The commissioner further declared that the command remains proactive and battle-ready to safeguard lives and property, warning that there would be no hiding place for kidnappers or their collaborators in Edo State.

The arrests mark the latest in a series of operations targeting criminal elements in the state. On February 4, the Nigerian Army announced the arrest of 13 suspected kidnappers and drug traffickers in separate operations across Osara community in Etsako West Local Government Area, as well as Auchi and Okpella in Edo North Senatorial District, according to a statement by Kennedy Anyanwu, Assistant Director of Army Public Relations, 4 Brigade.

In a move widely seen as consolidating the recent peace accord in the state, Governor Siminalayi Fubara has approved the appointment of Dr. Dagogo S.A. Wokoma as Secretary to the State Government (SSG) and Barrister Sunny Ewule as Chief of Staff (CoS).

The appointments, which take immediate effect, are interpreted as part of ongoing efforts to stabilise the political climate and strengthen governance structures following the new peace deal in Rivers State.

The new appointees are scheduled to be sworn in at 2:00 p.m. today at the Executive Council Chamber of Government House, Port Harcourt.

Political observers note that the reconstitution of key positions within the Governor’s inner cabinet signals a deliberate step towards inclusiveness and administrative cohesion, in line with the spirit of reconciliation that has recently reshaped the state’s political landscape.

The announcement was conveyed in a statement signed by the Chief Press Secretary to the Governor, Onwuka Nzeshi, who affirmed that the appointments are aimed at reinforcing effective service delivery and sustaining the momentum of peace and governance in the state.

With the latest development, expectations are high that the new SSG and Chief of Staff will play pivotal roles in translating the gains of the peace accord into tangible dividends for the people.

The Ebedaowei of Kabuowei Clan in Bayelsa State, King Hope Aserifa Torru, alongside members of the Kabuowei Traditional Council, has congratulated Hon. Dr. Peter Pereotubo Akpe on his inauguration as Deputy Governor of Bayelsa State.

Dr. Akpe was nominated by Governor Douye Diri and subsequently screened and confirmed by the Bayelsa State House of Assembly.

In a statement issued on behalf of the Ebedaowei and the Council, the traditional institution described Dr. Akpe’s emergence as a significant milestone in the Prosperity Government’s quest to deepen good governance and deliver on its mandate to the people.

The statement, signed by High Chief Freston Akpor, the Ozituaowei of Kabuowei Clan, extolled the new Deputy Governor’s record of service, strategic leadership acumen and commitment to transparency in public affairs, noting that these qualities distinguish him as eminently suited for the office.

King Torru and the Council further commended Governor Diri for what they termed a discerning choice, describing Dr. Akpe as disciplined, calm, resourceful and intellectually equipped to function effectively in his new capacity.

The traditional rulers offered prayers for wisdom, divine guidance and patience for the Deputy Governor as he assumes office, while reaffirming the unwavering support of the Kabuowei Clan for the policies and programmes of the Prosperity Government.

“We stand in full support of initiatives aimed at promoting our common good and collective progress,” the statement added.

The newly appointed Acting Inspector-General of Police, Olatunji Disu, on Tuesday declared an end to impunity and unprofessional conduct within the Nigeria Police Force, pledging sweeping reforms anchored on discipline, accountability and respect for human rights.

Disu made the declaration shortly after his swearing-in by President Bola Tinubu at the Presidential Villa, Aso Rock, Abuja.

His appointment followed the resignation of his predecessor, Kayode Egbetokun, on Tuesday, February 24.

Addressing State House correspondents after the ceremony, Disu described his appointment as unexpected, revealing that the President’s detailed account of his service record deeply moved him.

“The way the President mentioned several activities about me — areas I have worked and successes I recorded as a policeman — brought emotion to me, almost to tears,” he said.

According to him, the President’s remarks amounted to a direct challenge to justify the confidence reposed in him by restoring peace and strengthening the image of the Force.

The Acting IGP stressed that under his leadership, abuse of office, corruption and misconduct would not be tolerated.

“I will let them know that the era of impunity is over,” he declared. “There will be zero tolerance for corruption. We will intensify training and ensure our officers uphold human rights in the discharge of their duties.”

He emphasised that effective policing cannot thrive without public trust and collaboration, noting that community cooperation would be central to his reform agenda.

“We can never succeed without the cooperation of members of the public,” he said, pledging to entrench professionalism and accountability across all ranks of the Force.

President Bola Tinubu has removed the Inspector-General of Police, Kayode Egbetokun, from office and appointed Tunji Disu as his replacement.

Disu, an Assistant Inspector-General of Police (AIG), takes over the leadership of the Nigeria Police Force following a directive by the President ordering Egbetokun to resign.

Presidency sources indicated that the decision was conveyed to Egbetokun during a meeting at the Presidential Villa in Abuja on Monday.

Egbetokun was appointed the 22nd Inspector-General of Police by Tinubu on June 19, 2023, with his substantive appointment later confirmed by the Nigeria Police Council on October 31, 2023.

He assumed office at the age of 58 and was initially scheduled to retire on September 4, 2024, upon attaining the mandatory retirement age of 60. However, his tenure was extended by the President in a move that generated public debate.

Disu’s appointment marks a new leadership phase for the Nigeria Police Force amid ongoing security challenges across the country.