News From Nigeria
Preparations are in top gear as the family of First Republic politician, nationalist and pioneering journalist, Ernest Sissei Ikoli, gets set to bid farewell to a woman of profound moral scruples, stickler for hard work and excellence, Elsie Ajayi Ikoli.
The burial activities, scheduled for November 27 – 30 in Lagos, are expected to attract traditional rulers, clergymen, business tycoons, top government functionaries, prominent lawyers, public affairs experts, diplomats and media professionals across the world.
Following the demise of Elsie Ajayi Ikoli on September 2, 2025 at the age of 93, the Ernest Sissei Ikoli Foundation released burial plans indicating that the burial ceremonies will take place between Friday, November 27, 2025 and Sunday, November, 30, 2025.
‘’The service of songs is scheduled to hold on Thursday, November 27, 2025 at the Citadel, 274, Kofo Abayomi Street, Victoria Island by 5:00pm. The funeral service will be held at The Salvation Army Church, 11 Odunlami Street, Lagos on Friday, November 28. This will be followed by internment. The entertainment of guests will take place at The Hall Event Centre, 16 Musa Yar’Adua Street, Victoria Island while Thanksgiving Service will take place on Sunday, November 30, 2025 at The Salvation Army Church, Lagos Island’’
The Ernest Ikoli Foundation Statement said Elsie Ajayi Ikoyi was a woman liked by everybody because she had dignity and integrity.
‘’Mama Elsie Ajayi Ikoli was a mother to all, a church servant and a study in humility.
The woman of the altar, industry and unyielding grace was born beneath the golden skies of Kaduna on June 24, 1932″
The statement highlighted Mama Ayo’s intellect, resilience, wisdom and sobriety.
“Mama Ayo’s mind was a boundless library. She devoured books not for ornament, but for illumination — a habit that would later become the quiet engine of her wisdom”
The statement issued in Lagos by the Executive Vice Chairman of the Ernest Ikoli Foundation, Chief Anthony George- Ikoli (SAN), highlighted professionalism, apprenticeship in nation-building and her role as Executive Assistant to the First Editor of Daily Times, Publisher of African Messenger, President of the Nigerian Youth Movement, one of the founders of Action Group (AG) and representative of Lagos in the Legislative Council, Ernest Ikoli.
“Mama Ayo moved with quiet precision behind the scenes of history. While Ernest drafted editorials that stirred the conscience of a colony awakening to freedom, Mama Ayo kept the rhythm of his days — managing correspondence, organizing schedules, shielding one of the activists of Nigeria’s political history from distraction”
Well known as a tireless and cheerful woman who could be counted on, the statement said Elsie avoided the spotlight that focused on Ernest Sissei Ikoli through his long political career.
“In her presence, chaos yielded to order. In her silence, purpose found its voice. She did not seek the spotlight, but stood steadfast in its penumbra — a dutiful woman, an unseen architect of legacy, ensuring that the man who helped forge Nigeria’s voice never lost his own”
The statement recalled the period when the mantle of the sole provider fell upon her shoulders.
“Mama wore it not as a burden, but as a covenant. She became a staff member and major distributor for Abbott Pharmaceuticals during its pioneering years in Nigeria — a time when Similac and Isomil were not just products, but promises whispered into the cribs of a hopeful, growing nation. With grit and grace, she out-distributed her peers, not through force, but through faithfulness – waking before dawn, returning long after dusk, her arms laden not just with formula tins, but with the nourishment of futures. In her, Abbott did not merely find a distributor — they found a disciple of diligence, a woman who treated every delivery as a divine assignment”
Widely respected for her innumerable contributions to the development of individuals and groups in Nigeria and the world at large, the statement emphasized courage in adversity and how life exacted its cruel toll on Elsie Ajayi Ikoli.
“The loss of two of her children carved a canyon in her soul — a grief so profound it could have extinguished her. But Mama Ayo did not retreat. She ascended. In the hallowed halls of the Salvation Army, Marina Corps, she entered into a sacred covenant with God — a vow of everlasting service. There, as Welfare Keeper of the Home League Unit, she washed altar linens until they gleamed like morning snow, believing that holiness resided not only in prayer, but in purity of preparation. She folded hope into every crease, ironed devotion into every hem. Her hands, which once balanced ledgers and stacked crates, now cradled communion cloths with the reverence of a priestess”.
The statement emphasized her role in the women’s ministries.
“Madam Elsie Ajayi Ikoli was a pillar in the Women’s and Mother’s Ministries, where her counsel was sought not for its volume, but for its virtue. And beyond the church walls, she poured her spirit into the Nembe Women Society (Lagos Branch) — gathering daughters of the Niger Delta in diaspora, weaving community from memory, stitching solidarity with stories. She did not merely lead — she mothered. She did not merely organize — she sanctified”.
Blessed with a rich and agile mind, the statement said Mama Ayo’s worldview was sculpted by sweat and scripture.
“Madam Elsie Ajayi Ikoli believed work was worship, excellence an echo of the divine, and failure not a full stop — but a comma in God’s longer sentence. Like the ant she so admired, she saw the cathedral in the crumb, the empire in the errand. She got up early, humming hymns to the rhythm of responsibility. She taught by presence: “Do it yourself, Do it well and Do it now.” Not as a command, but as a creed”.
The statement lavished praise on her for the quiet revolution.
“Her altar remains spotless. Her hands shape us. Her name — Elsie — “God’s Promise” — echoes in every life she lifted. Rest now, Mama. The Rock you carried has become the monument. The vision you served has become a victory. Well done, good and faithful servant”
Elsie Ajayi Ikoli will be remembered for her restlessness in terms of work and her persistence in excelling. She will also be remembered with respect.
Meanwhile, major organizations in Nigeria have expressed their condolences following the death of Mrs. Elsie Ajayi Ikoli.
Charis Microfinance Bank has described the death of Elsie Ajayi Ikoli as an irreparable loss.
‘’On behalf of the Management and Staff of Charis Microfinance Bank Limited, we wish to express our deepest condolences to you and your family on the passing of your beloved mother, Madam Elsie Ajayi Ikoli, who slept in the Lord on the 2nd of September, 2025. We share in your grief during this difficult time and pray that God grants you and the entire family the strength and comfort to bear the irreparable loss’’ the bank said in a statement on Monday morning.
The dynamic financial institution also extolled the qualities of Madam Elsie Ajayi Ikoli and relevance of Lagos lawyer, Anthony George-Ikoli, in the business community and political history of Nigeria.
‘’As our esteemed chairman, your leadership, wisdom and commitment have been instrumental in guiding the bank towards its vision of financial inclusion, sustainable growth and economic prosperity. The values of honesty, accountability and integrity that you embody are a true reflection of the strong foundation and nurturing influence of your late mother. Her legacy lives on through you and the many lives she touched’’.
The bank, according to the statement signed by the Chief Executive Officer, Obiora Unigwe and the Head, Products & Brand Management, Osasu Steve-Momoh, is deeply saddened by her death.
‘’At Charis Microfinance Bank, we consider ourselves a family, and in this moment of sorrow, we stand firmly with you in solidarity and prayer. While her physical presence will be greatly missed, we take solace in the knowledge that Madam Elsie Ajayi Ikoli lived a life of grace, faith and purpose, one that will continue to inspire all who knew her. Please accept our heartfelt sympathy, and may her gentle soul rest in perfect peace’’
CAKASA (Nigeria) Company Limited also paid tribute to the memory of this role-model who stamped her footprints on the sands of time.
‘’On behalf of the Board, Management and the entire staff of CAKASA (Nigeria) Company Limited, I acknowledge the news of the transition to the glory of our beloved mother, grandmother and great grandmother, Madam Elsie Ajayi Ikoli who slept peacefully in the Lord on 2nd September, 2025. What an irreplaceable loss’’ Cakasa (Nigeria) Company Limited said in a statement.
The statement by the Chairman of CAKASA, Christopher A. Alabi, described Elsie Ajayi Ikoli as a great mother.
‘’No doubt, the transition of our dearly beloved matriarch had left a great and indelible void in the hearts and minds of not just the immediate family but anyone who had had a rare occasion to meet her’’.
The engineering, procurement and construction company highlighted her virtue and nobility.
‘’The outpouring of grief and emotion over her transition is a clear affirmation of her personality as an embodiment of virtue and nobility. She showed love without expectation to all, cared for others without conditions and touched lives in innumerable and invaluable ways’’.
The statement advised Antony George-Ikoli and members of his family not to grieve.
‘’Mama Elsie Ajayi Ikoli was a rare gem. She personified selflessness, altruism and service to humanity. What a life well lived, a legacy superlatively delivered. She would be sorely missed, but we are not without hope. And so, it is well said that albeit ‘’ nothing can bring back the hour of splendor in the grass, of glory in the flower’’. Let us grieve no more. But find hope and strength that whatever our worries and cares may justifiably be on account of her glorious transition. We must give them over to God for He cares for us. God’s care closes every void. His comfort soothes every pain and His love trumps every loss.
It also reminded Antony George-Ikoli of the roles played by Elsie Ajayi Ikoli in the Lord’s Vineyard.
‘’Thus, as we grieve the irreparable loss, we must take solace in the sublime truth that our sister, having died a worthy daughter of the Lord and servant in His Vineyard, the heavenly hosts are rejoicing to meet her behind the veil of immortality of course.
Similarly, WEMA Bank extended condolences to Anthony George-Ikoli on the passing of his dearly beloved mother.
‘’As a team, we are deeply saddened by this loss and understand how difficult it is to part with a loved one.
In a letter signed by Business Development Manager, Olaniyi Saheed and Zonal Manager, LM, Lucky Imoisilli, the bank expressed solidarity with the family during the period of mourning.
‘’Please accept our deepest sympathy and we pray that God grants you and your entire family the strength and comfort you need during this time and may her soul rest in peace’’.
In the same vein, Polaris Bank extended sympathies to the family of Elsie Ajayi Ikoli.
‘’It was with deep sadness that we received the news of the passing of your dear mother, Mrs. Elsie Ajayi Ikoli. On behalf of the Management and Staff of Polaris Bank, we wish to extend our heartfelt condolences to you and your family during this difficult time’’
The bank in a letter by its Relationship Manager, Nta Henshaw and Branch Manager, Cibuzo Ogbonna acknowledged Elsie Ajayi Ikoli’s contributions to the growth of the family.
‘’We understand that the loss of a mother leaves a void that cannot be easily filled. May you find strength in the cherished memories you shared with her and may her legacy of love and guidance continue to comfort and inspire you. Please be assured of our thoughts and prayers as you go through this period of grief. We stand with you and wish you and your family the fortitude to bear this irreparable loss’’.
The leaders of the Ijaw Nation expressed grief over the demise of Anthony George-Ikoli’s mother, Mrs. Elsie Ajayi Ikoli.
In a statement on Monday, the Ijaw leaders paid their deepest and heartfelt condolences, saying that the prayers of the Ijaw people are with Chief Anthony George-Ikoli and his family at this difficult time.
‘’Our prayers are with you and the entire bereaved family because of this irreparable loss. Though a painful exit of a good mother, God loves her more’’.
The statement by the Lagos State Chairman, Tonye Leonard Harry and State Secretary, Elayelagha Golden Ambakaderemo commiserated with Anthony George-Ikoli over the demise of his beloved mother, Mrs. Elsie Ajayi Ikoli.
‘’Please accept our heartfelt condolences and may you find comfort and strength during this difficult time’’
The statement by the leadership of the Ijaw National Congress (INC), Lagos chapter urged Anthony George-Ikoli and his relatives to draw strength from the mother’s illuminating attributes of honesty, discipline, resilience and joyful spirit.
‘’Her sweet memories will forever be etched in our minds” the statement added.
Lagos residents also expressed profound sadness at the passing of Elsie Ajayi Ikoli.
A statement by the Alaka Executive Committee offered the deepest and most heartfelt condolences to famous lawyer, Chief Anthony George-Ikoli and his entire family.
‘’The loss of a mother is one of life’s most profound sorrows and we understand that no words can fully ease the pain you are experiencing’’.
The statement was signed by the Alaka Estate Chairman, Mr. Chukwuemeka Ugwu and the General Secretary, Mrs. Kemi Awe
‘’We stand with you in solidarity during this period of bereavement” the statement said.
‘’Our thoughts and prayers are with you and your family as you navigate through these challenging times. We pray that the Almighty God will grant your mum eternal rest and provide you and your family with the strength, comfort and solace needed to bear this irreplaceable loss’’.
VIBROFLOTATION AND GEOTECHNICAL, PRISONERS CARE, OTHERS EULOGIZE ELSIE AJAYI IKOLI AS DIGNITARIES GATHER IN LAGOS
STATE HOUSE PRESS RELEASE
In honour of President Bola Tinubu’s determined global push to aggressively attract foreign direct investment into Nigeria, the world’s second largest stock exchange, the National Association of Securities Dealers Automatic Quotation System (NASDAQ), on Wednesday in the world’s financial capital, invited President Tinubu to ring the closing bell, making him the first Nigerian President to ever receive the honour.
The President, surrounded by Nigerian business leaders and officials of the Nigerian Stock Exchange, in trademark fashion, did not fail to seize the opportunity presented by the historic moment to boldly advance his foreign investment push as he stood, live, in front of financial markets at the famous stock exchange.
“It’s a great honour for me to be here. I am happy to bring Nigeria to your doorsteps and I am honoured that we are here today with a bubbling Nigerian stock market that will evolve in the West African sub-region. The greatest economy in Africa is Nigeria, there is an immense opportunity in Nigeria where you can invest your money without fear,” the President said.
The President noted that his government continues to address longstanding problems and impediments, such as his work to restore and unify the foreign exchange rate market to a stable and trustworthy level, allowing new investors to seamlessly bring their money into the country, free of worries about whether or not they can take their money out at any point in time.
“You’re free to take in your money and bring out your money. I count on you to invest in Nigeria,” the President exclaimed under the lights.
At the Nigeria-U.S. Executive Business Roundtable held just after the closing bell, President Tinubu assured prospective investors that while he recognizes that investment capital is cowardly in nature, he intentionally brought successful Nigerian industrialists and public officials to share their experiences and operational plans respectively, in addition to all that he has already done to boost the confidence of the global investment community in Nigeria’s presently reforming fiscal, monetary, regulatory and tax policy environment.
“Nigeria is an opportunity that is impossible to replicate or find elsewhere in any part of the world. We have brilliant young people who both innovate and consume at a large scale. Our entrepreneurial spirit is a major part of what makes our market totally unique, aside from demography. Nigerians build businesses and Nigerian businesses partner with other businesses to conduct larger business. There is enough value to spread around. Be careful of what you hear about Nigeria. You may be dissuaded out of a major opportunity that others will take up. We are here for you. We will give you all the support you need to succeed and succeed abundantly,” the President assured the roundtable as he pointed out cabinet officials.
On behalf of the U.S. Government, U.S. Deputy Treasury Secretary, Wally Adeyemo, told U.S. business leaders that he was just a few hours removed from arriving in New York from Lagos, Nigeria, where he was on an official visit that later became a fact-finding mission.
“In Lagos, I saw first hand some of the major reforms you implemented as the Governor of Lagos and the transformative effect it has had on Nigeria’s commercial capital. People have attested to the fact that the reforms you have put in place as President are quickly enhancing confidence. American business is paying attention to that and from what we have seen for ourselves, Nigeria is proving to be a new frontier for investment. We will encourage our companies from our end as those reforms continue to deepen,” Mr. Adeyemo said.
The American Business Council President, Mr. Sops Ideriah, said that the extensive turnout at the roundtable by American Business Chief Executives served as a testament to the degree to which confidence is rising in response to the actions and words of President Bola Tinubu’s administration with respect to ease of business, investment promotion, and his willingness to personally intervene where required to ease the historical concerns of American business people about doing business in Nigeria.
“Having all the stakeholders in the room, His Excellency the President of Nigeria being here, from government actors at the federal and state level to ministers and tax authorities present, as well as private sector industrialists in Nigeria. We are very positive about the potential of Nigeria and we are just reinforcing to our colleagues the message about the economic opportunities that exist there,” Mr. Ideriah said.
Acting Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, assured the American Captains of Industry that under the leadership of President Bola Tinubu, the nation’s apex tax authority will be focusing its efforts not on taxing the seed, but only on the proportionate taxation of the fruit of fully formed industry, through efficient policy synergy with Nigeria’s sub-national authorities.
“The President is a business enabler, not a handicapper. Everything we do will be geared toward making your tax assessment and payment processes as digitally efficient and transparent as possible. We are not after the seed, but the fruit and we will keep to this commitment,” Nigeria’s new tax boss affirmed.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
September 21, 2023
Probe missing $15bn, N200bn of oil revenues, SERAP tells Tinubu
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to “set up a presidential panel of enquiry to promptly probe the grim allegations that over US$15 billion of oil revenues, and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI).”
SERAP urged him to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as the full recovery of any proceeds of crime.”
SERAP also urged him “to fully implement all the recommendations by NEITI in its 2021 report, and to use any recovered proceeds of crime.”
In the letter dated 23 September 2023 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “There is a legitimate public interest in ensuring justice and accountability for these serious allegations. Taking these important measures would end the impunity of perpetrators.”
SERAP said, “As President and Minister of Petroleum Resources, your office ought to be concerned about these damning revelations, by getting to the bottom of the allegations and ensuring that suspected perpetrators are promptly brought to justice, and any missing public funds fully recovered.”
The letter, read in part: “Any failure to investigate these grave allegations, bring suspected perpetrators to justice and recover any missing public funds would have serious resource allocation and exacerbate the country’s debt burden.”
“It would also create cynicism, suspicion, and eventually citizens’ distrust about the ability of your government to combat high-level official corruption, as well as deter foreign investment and limit growth and development.”
“We would therefore be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.”
“The findings by NEITI suggest a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s obligations under the UN Convention against Corruption.”
“The allegations of corruption documented by NEITI undermine economic development of the country, trap the majority of Nigerians in poverty and deprive them of opportunities.”
“Your government has a constitutional duty to ensure transparency and accountability in the spending of the country’s wealth and resources.”
“According to the 2021 report by the Nigeria Extractive Industries Transparency Initiative (NEITI), government agencies including the Nigerian Petroleum Development Company (NNPC) and the Nigerian Upstream Petroleum Regulatory Commission (NPDC) failed to remit $13.591 million and $8.251 billion to the public treasury.”
“The NNPC and NPDC failed to remit over 70% of these public funds. NEITI wants both the NNPC and NPDC to be investigated, and for the missing public funds to be fully recovered.”
“The report also shows that in 2021, the State Owned Enterprises (SOE) and its subsidiaries (the NNPC Group) reportedly spent US$6.931billion on behalf of the Federal Government but without appropriation by the National Assembly. The money may be missing.”
“The NNPC also reportedly obtained a loan of $3 billion in 2012 purportedly to settle subsidy payments due to petroleum product marketers but there is no disclosure of the details of the loan, subsidy and the beneficiaries of the payments.”
“The report also shows that N9.73 billion was paid to the NNPC as pipeline transportation revenue earned from Joint Venture operations but the money was neither remitted to the Federation nor properly accounted for. The NPDC in 2021 also failed to remit $7.61 million realized from the sale of crude oil.”
“The report documents that about N200 billion was spent on ‘refineries rehabilitation’ between 2020 and 2021 but “none of the refineries was operational in 2021 despite the spending.’ NEITI wants the spending to be investigated, as the money may be missing.”
“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on your government to conform to, observe and apply the provisions of Chapter 2 of the constitution. Section 15(5) imposes the responsibility on your government to ‘abolish all corrupt practices and abuse of power’ in the country.”
“Under Section 16(1) of the Constitution, your government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity.’”
“Section 16(2) further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”
“Similarly, articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on your government to ensure proper management of public affairs and public funds, and to promote sound and transparent administration of public affairs.”
“The UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to which Nigeria is a state party obligate your government to effectively prevent and investigate the plundering of the country’s wealth and natural resources and hold public officials and non-state actors to account for any violations.”
“Specifically, article 26 of the UN convention requires your government to ensure ‘effective, proportionate and dissuasive sanctions’ including criminal and non-criminal sanctions, in cases of grand corruption.”
“Article 26 complements the more general requirement of article 30, paragraph 1, that sanctions must take into account the gravity of the corruption allegations.”
“Nigeria is also a participating state of the Extractive Industries Transparency Initiative (EITI), which aims to foster greater governmental accountability for the use of natural resource wealth through the creation of a set of international norms on revenue transparency.”
“EITI also aims to tackle corruption, poverty and conflict associated with natural resource wealth. Nigeria has the obligations to implement the EITI Standard, which sets out the transparency norms with which participating States including Nigeria must comply.”
Kolawole Oluwadare
SERAP Deputy Director
24/9/2023
Lagos, Nigeria
Emails: info@serap-nigeria.org; news@serap-nigeria.org
Twitter: @SERAPNigeria
Website: www.serap-nigeria.org
For more information or to request an interview, please contact us on: +2348160537202