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OPINION ARTICLE: CBN’s N75 Trillion Credit Milestone to Private Sector Falls Flat as Productivity Crisis Deepens

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OPINION ARTICLE: CBN’s N75 Trillion Credit Milestone to Private Sector Falls Flat as Productivity Crisis Deepens

BY BLAISE UDUNZE

 

Nigeria’s financial system is flashing red, and not because of a scarcity of money. Ironically, the Central Bank of Nigeria (CBN) and the nation’s banking proudly tout a historic rise in private-sector credit, announcing figures hovering around N75 trillion throughout 2024-2025. On paper, this looks like a funding boom, a sign that businesses are borrowing, investing, expanding, and building. But on the ground, the country’s real sector tells a very different story.

 

Manufacturers that are the backbone of industrial output have withdrawn en masse from bank loans, their loan books collapsing by an alarming 20.3 percent within a single year. SMEs, which constitute over 90 percent of Nigeria’s businesses and nearly half of the national GDP, remain shut out of formal credit. Banks themselves are quietly battling rising non-performing loans (NPLs), with several institutions breaching the CBN’s 5 percent regulatory threshold. Meanwhile, the official “N75 trillion” credit figure hangs in the air like an illusion that appeared to be big, impressive, but dangerously misleading. This feature unpacks the contradiction. If credit is indeed booming, where did the money go? And why is the real economy shrinking away from bank financing at a time when it should be expanding?

 

The financial statements of Nigeria’s top manufacturers for the first nine months of 2025 show a coordinated withdrawal from bank credit. Their aggregate bank borrowings plunged from N2.526 trillion in 2024 to N2.014 trillion in 2025, a dramatic 20.3 percent drop. The details are striking:

 

– BUA Foods fell from N1.559 trillion to N1.105 trillion;

– Nestlé Nigeria from N653.7 billion to N521.01 billion;

– Nigerian Breweries from N204.17 billion to N162.17 billion.

– NASCON’s borrowings dropped 98percent, from N3.3 billion to N67 million.

– Others: Dangote Cement, Dangote Sugar, Guinness, and International Breweries took no new loans.

 

These are not marginal firms but some of the most capital-intensive, employment-generating entities in the country. Their exodus from bank borrowing is a referendum on Nigeria’s brutal credit environment, where the Monetary Policy Rate of 27-27.5 percent has pushed effective lending rates well above 30 percent, making loans unaffordable even for working capital.

 

The retreat has slashed their financing costs by 52.8 percent, from N1.4 trillion to N662 billion. This is not because interest rates fell; they didn’t. Businesses simply stopped borrowing.

 

Finance expert David Adonri describes it bluntly: “Borrowers shun bank credit… lending rates have not come down materially. Banks’ income may fall below expectations.”

But the bigger concern is not banks’ income, it is the economy’s ability to invest and grow.

 

This is the question that unsettles economists, industry players, and SMEs alike.

If manufacturers pull back, SMEs remain excluded, and retail borrowing is suppressed; who receives the N75 trillion? What did it finance?

The answer reveals that Nigeria’s credit allocation remains opaque; however, historical patterns and recent financial data point in three directions. Even more concerning are recent claims that the modest loan growth recorded in 2024-2025 is not commensurate with the explosive expansion of banks’ balance sheets.

This suggests that the system is growing with deposits rising, assets swelling, FX revaluation inflating balance sheets, but actual lending to the productive economy is barely moving.

The credit growth being celebrated is therefore not only concentrated but also superficial and disconnected from balance sheet realities.

 

1. Lending concentration in big corporate and government entities

For decades, banks have preferred lending to large corporations and government-linked entities like:

– Oil & Gas

– Conglomerates and trading groups

– Government contractors

– Financial market operators

– Large borrowers with FX exposure

 

Even CBN’s earlier research shows that only 5-6 percent of total bank credit historically reaches SMEs.

Given the lack of detailed public data, it is reasonable to infer that the bulk of the N75 trillion still flows to:

– Large corporations

– Treasury operations

– Prime customers

– Big-ticket borrowers with government-linked contracts.

 

Experts warn that this reflects a financial system drifting away from the real economy, a trend Muda Yusuf describes as “worrisome and dangerous.”

 

2. Banks are also parking funds in government securities.

Commercial banks prioritized lending to the government by investing in T-bills, FGN Bonds, and OMO instruments, where returns are high and risk-free. Over the past two years, Nigerian banks have channeled N20.4 trillion into treasury bills, bonds, and other fixed-income instruments, reaping risk-free returns rather than funding productive ventures. This “securities trap” is profitable for banks but disastrous for the economy.

A government-backed 19–22 percent yield is more attractive than lending to an SME at 27-35 percent with a high probability of default.

 

3. FX revaluation effects and rollovers

Portions of the N75 trillion may not be new lending in the real sense but the result of regulatory reclassifications, rollovers, FX revaluation on foreign-currency loans, and large concentrated credit exposures. This creates the illusion of expanded credit without tangible productivity gains.

 

 

However, SMEs, which contribute 46.3 percent of GDP and employ millions, remain locked out of the credit system due to punitive interest rates, high collateral demands, lack of financial documentation, bureaucratic processes, and weak credit-scoring systems. Despite accounting for 97 percent of businesses and nearly 90 percent of informal jobs, SMEs receive only 5 percent of commercial bank lending. This is a structural failure. SMEs remain almost entirely disconnected from Nigeria’s celebrated “N75 trillion credit boom.”

 

Manufacturers’ 2025 results show turnover up 37.9 percent and profit swinging from a N116 billion loss to N2.5 trillion gain. But experts like Muda Yusuf and Clifford Egbomeade warn that these improvements are driven primarily by:

– Inflationary pricing adjustments, not increased production.

– Gains are also supported by exchange-rate stability.

– Reduced debt burden, not operational efficiency.

Nigeria risks mistaking nominal growth for real productivity.

 

Meanwhile, rising non-performing loans fueled by high interest rates, inflation, weakened consumer demand, and FX volatility have pushed some banks above the CBN’s 5 percent NPL ceiling, further restricting their willingness to lend, especially to SMEs.

 

Even the private-sector credit trend contradicts the headline figure. Throughout 2025, credit levels have shown repeated declines:

– February’s N77.3 trillion dropped to N76.3 trillion,

– N75.9 trillion in March,

– Followed by a temporary rebound to N78.1 trillion in April,

– May-August declined to N75.8 trillion.

 

These repeated drops reflect weakened appetite for borrowing, tighter bank lending, liquidity pressures, and borrower distress. A true credit boom does not move in this direction.

 

 

The Human Cost of an Economy without Productivity

 

The consequences of weak productivity are not abstract. They show up in hunger, jobs, poverty, life expectancy, and living standards. Below is where Nigeria’s crisis becomes undeniable.

 

– It is Not Just Rising, it is deepening

 

– According to the World Bank, 139 million Nigerians now live in poverty. That is six in ten Nigerians. No country with this scale of poverty can claim real economic progress.

 

SBM Intelligence, in a scathing review of the government’s economic reforms, noted that this administration of government has failed to lift Nigerians’ living standards, despite the loud claims of macroeconomic stability.

 

 

Life Expectancy in Nigeria Is Now the Lowest in the World

 

The UN’s 2025 Global Health Report ranked Nigeria’s life expectancy at 54.9 years, the worst globally, far below the world average of 73.7 years. This decline is attributed to:

 

– Insecurity

 

– Poor healthcare access

 

– Rising poverty

 

– Nutritional deficiencies

 

– Weak social welfare

 

A productive economy increases life expectancy; a collapsing one shortens it.

 

Hunger Is the Real Inflation Index

 

While official inflation reports show “stabilisation,” the lived reality says otherwise.

In the kitchens of Lagos, in the cries of hungry children, and in the struggles of market women, a harsher truth is spoken daily: Empty pots do not lie, and hunger, not percentages, is Nigeria’s real inflation index.

 

 

Debt Explosion Is Eroding Nigeria’s Future

 

Since President Bola Ahmed Tinubu took office in 2023:

 

– Nigeria’s public debt surged from N33.3 trillion-N152.4 trillion. A staggering 348.6 percent increase in less than two years

 

Economies don’t collapse overnight; they deteriorate gradually. Nigeria is flashing every warning signal.

 

 

Unemployment Appears “Stable,” But Youth Joblessness Is Rising

 

The International Labour Organisation (ILO) reports that while Nigeria’s headline unemployment rate has fallen to 4.3 percent, youth unemployment has risen to 6.5 percent. A youthful population with no jobs is a time bomb for the economy.

 

Financial System Delinking from the Real Economy

 

Nigeria’s financial system appears to be delinking from the real economy. High interest rates make loans too expensive, manufacturers cut borrowing, SMEs are excluded, banks channel funds into T-bills, NPLs rise, banks tighten further, and private-sector growth slows. This feedback loop is dangerous.

 

Monetary authorities have prioritised stabilization, achieving a firmer naira, temporary FX calm, and reduced speculative pressure, but at the cost of choking credit, suppressing investment, weakening job creation, and widening the disconnect between banks and the productive economy. The recovery, as Egbomeade notes, is “fragile and easily reversible.”

 

To reverse the trend, Nigeria must rebuild the credit pipeline. To break the cycle, three urgent reforms are needed:

 

1. The CBN should publish transparent, disaggregated credit data.

This must show credit allocation by firm size, region, sector, and performance.

 

2. Expand targeted credit guarantees for SMEs and manufacturers.

Deposit money banks and the government must strengthen SME and manufacturing credit channels through expanded guarantees.

3. Reduced collateral barriers and adopted alternative credit scoring, stronger BOI pipelines.

4. Incentives for real-sector lending through tax breaks and prudential relief.

5. Most importantly, interest rates must gradually fall to levels that support investment and production while maintaining FX stability. Credit cannot revive with 30-35 lending rates.

 

 

Nigeria’s N75 trillion private-sector credit figures may look impressive, but manufacturers have withdrawn, SMEs have little access, banks are risk-averse, NPLs are rising, the real sector is struggling, debt is exploding, Life expectancy is collapsing, hunger is spreading, productivity remains weak, and credit levels are trending downward. The real question is no longer how large the number is but who actually received it, what it financed, and what it produced. Until credit flows to production, industry, SMEs, and innovation, Nigeria will continue celebrating large numbers while the real economy gasps for oxygen. It is time to stop counting the trillions and start counting the impact.

 

Blaise, a journalist and PR professional, writes from Lagos, can be reached via: [email protected]

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How Policy Flip-Flops Are Making Nigerians Poorer

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How Policy Flip-Flops Are Making Nigerians Poorer

By Blaise Udunze

 

 

Nigeria’s deepening poverty crisis is no longer speculative; it is now statistically inevitable. Although the latest Consumer Price Index figures released by the National Bureau of Statistics (NBS) suggest that headline inflation is cooling and growth indicators show tentative improvement, regrettably, more Nigerians are slipping below the poverty line. Reviewing the recent projections from PwC’s Nigeria Economic Outlook 2026, it is alarming, which reveals that no fewer than two million additional Nigerians are expected to fall into poverty next year. This is expected to push the total number of poor people to about 141 million, roughly 62 percent of the population and the highest level ever recorded in the country’s history.

 

 

 

This grim outlook persists despite eight consecutive months of easing inflation and modest economic recovery, and as one can perceive, the contradiction is telling. The fact remains that macroeconomic signals are improving on paper, yet lived reality continues to deteriorate. It is glaring that the widening gap between policy metrics and human outcomes exposes a deeper truth in the sense that Nigeria’s poverty crisis is not simply the product of external shocks or temporary adjustment pains. It is the cumulative result of fragile policymaking, inconsistent reforms, weak institutional coordination, and a failure to sequence economic changes with adequate social protection. With these, it becomes clearer that poverty in Nigeria is no longer an unintended side effect of reform; it is increasingly its most visible outcome as identified today.

 

 

 

It would be recalled that the current administration in 2023, when it assumed office, promised a bold economic reset. At this point, the nation witnessed the fuel subsidy removal, exchange-rate liberalisation, and tighter fiscal discipline being introduced swiftly and applauded internationally for their courage and long-term logic. Notably, these reforms unleashed an economic storm whose aftershocks continue to batter households and currently resulting to the cost of a bag of rice that sold for about N35,000 two years ago now costs between N65,000 and N80,000, while a crate of eggs has risen from N1,200 to over N6,000 and basic staples like garri, tomatoes, and pepper have drifted beyond the reach of ordinary Nigerians. For millions, the economy did not reset; it snapped.

 

 

 

Inflation, often described by economists as a “silent tax,” has punished productivity, mocked thrift, and rewarded speculation.

 

Reports from the NBS’s December 2025 disclosed that headline inflation eased to 15.15 percent and according to it, this is due to a rebasing of the Consumer Price Index, down sharply from 34.8 percent a year earlier, this statistical moderation has brought little relief to households. Food inflation, at 10.84 percent year-on-year, and a marginal month-on-month decline may look reassuring on spreadsheets, but for families spending 70 to 80 percent of their income on food, such figures feel detached from reality. These figures are not only implausible but also insulting to those whose lives have been torn apart by the skyrocketing prices. With the realities facing the larger populace, Nigeria must be using another mathematics.

 

 

 

Nigeria may have changed its base year, but it has not changed the harsh arithmetic of survival.

 

PwC’s data underscores this disconnect, as nominal household spending rose by nearly 20 percent in 2025, real household spending contracted by 2.5 percent, reflecting the erosive impact of rising food, transport, and energy costs. The painful part of it, is that Nigerians are spending more money to consume less, and this is to say that growth, hovering around 4 percent, is not strong enough to absorb shocks or lift households meaningfully. As analysts note, Nigeria would require sustained growth of 7 to 9 percent to make a significant dent in poverty. That is to say that anything less merely slows the descent.

 

 

 

The structural weakness of the economy is compounded by policy inconsistency. Nigeria’s economic landscape is littered with abrupt shifts, subsidy removals without buffers, currency reforms without stabilisation mechanisms and trade policies that oscillate between restriction and openness. For households and small businesses, which employ most Nigerians, this unpredictability makes planning impossible. The economy has constantly being faced with price volatility, income shocks, and lost jobs because these are the ripple effects of every policy reversal. Uncertainty itself has become a poverty multiplier.

 

 

 

Nowhere is this fragility more evident than in food systems and rural livelihoods, and this has been where insecurity has merged with policy failure to create a new poverty spiral. Across farmlands in the North and Middle Belt, crops rot unharvested as banditry and insurgency force farmers off their land. Nigeria’s largely agrarian economy has been crippled by violence that disrupts planting cycles, destroys infrastructure, and displaces communities. The result is both income poverty for farmers denied access to their livelihoods and food inflation that erodes purchasing power nationwide.

 

 

 

For record purposes, earlier last year, the NBS Multidimensional Poverty Index showed that 63 percent of Nigerians, about 133 million people, are multidimensionally poor, with poverty heavily concentrated in insecure regions. Findings showed that about 86 million of the poor live in the North, and this is where insecurity is most severe. This record showed that rural poverty stands at 72 percent,c compared to 42 percent in urban areas, and while the states most affected by banditry and insurgency record poverty rates as high as 91 percent. Insecurity is no longer just a security problem; it is one of Nigeria’s most powerful poverty drivers.

 

 

 

The economic cost of insecurity in Nigeria today is staggering. This is because the conservative estimates suggest Nigeria loses about $15 billion annually, which is roughly equivalent to N20 trillion, due to insecurity-induced disruptions across agriculture, trade, manufacturing, and transportation. At the same time, security spending now consumes up to a quarter of the federal budget. In just three years, over N4 trillion has been spent on security, which crowded out investment in health, education, power, and infrastructure. Every naira spent managing perpetual violence is a naira not invested in preventing poverty, even as poverty deepens, the state’s fiscal response reveals a troubling misalignment of priorities. The 2026 federal budget, estimated at N58.47 trillion, ironically allocates just N206.5 billion to projects directly tagged as poverty alleviation and this only amounts to about 0.35 percent of total spending and less than one percent of the capital budget. In a country where over 60 percent of citizens live below the poverty line, this allocation borders on policy negligence.

 

 

 

Worse still, over 96 percent of this already meagre poverty envelope sits under the Service Wide Vote through the National Poverty Reduction with Growth Strategy, largely as recurrent provisions. All ministries, departments, and agencies combined account for barely N6.5 billion in poverty-related projects. This fragmentation reflects a deeper institutional failure, that is to say, poverty reduction exists more as a line item than as a coherent national mission.

 

Where MDA-level interventions exist, they are largely palliative and scattered, grain distribution in select communities, tricycles and motorcycles for empowerment, and small scale skills acquisition for women and youths. The largest such project, a N2.87 billion tricycle and motorcycle scheme under a federal cooperative college, accounts for nearly half of all MDA-based poverty spending. The fact remains that the various interventions may offer temporary relief, and they do little to address structural drivers of poverty such as job creation, productivity, market access and human capital development.

 

 

 

Even the Ministry of Humanitarian Affairs and Poverty Alleviation illustrates the problem just as its budget jumped sharply in 2026, much of the increase went into administrative and capital items, office furniture, equipment, international travel, retreats, and systems automation rather than direct poverty-fighting programmes. This reflects a familiar Nigerian paradox: institutions grow, but impact shrinks.

 

 

 

International partners have been blunt in their assessments. The World Bank estimates that Nigeria spends just 0.14 percent of GDP on social protection, which is far below the global and regional averages. Only 44 percent of safety-net benefits actually reach the poor, rendering the system inefficient and largely ineffective. PwC similarly warns that without targeted job creation, productivity-focused reforms, and effective social protection, poverty will continue to rise, undermining domestic consumption and straining public finances further.

 

 

 

Fiscal fragility compounds the crisis. The N58.18 trillion 2026 budget carries a deficit of N23.85 trillion, with debt servicing projected at N15.52 trillion, nearly half of expected revenue. The public debt has ballooned to over N152 trillion. The contradiction here is that Nigeria is borrowing not to expand productive capacity but to keep the machinery of government running. The truth is not far-fetched because, as debt crowds out development spending, households are forced to pay privately for public goods, education, healthcare, water, deepening inequality and entrenching poverty across generations.

 

To be clear, not all signals are negative. This is because opportunities exist if reforms are sustained and properly sequenced. Regional trade under the African Continental Free Trade Area could diversify exports and create jobs. But reform momentum without inclusion and institutional capacity risks becoming another missed opportunity.

 

 

 

This is the central tragedy of Nigeria’s moment. The country is attempting necessary reforms in an environment of weak buffers, fragile institutions, and low trust. Poverty is therefore not accidental. It is the predictable outcome of inconsistency, reforms without protection, stabilisation without security, and budgets without people.

 

 

 

Nigeria faces an undeniable choice. It can continue down a path where fragile policies deepen deprivation and erode trust, or it can build a disciplined, coordinated framework that aligns reforms with social protection, security, and inclusive growth. Poverty is not destiny. But escaping it requires more than courage in reform announcements; it demands consistency, compassion, and the political will to place human welfare at the centre of economic strategy.

 

 

 

Blaise, a journalist and PR professional, writes from Lagos and can be reached via: [email protected]

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Dr. Chris Okafor: A Philanthropist Par Excellence and a Man of Prayer

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Dr. Chris Okafor: A Philanthropist Par Excellence and a Man of Prayer

By Sunday Adeyemi, Society Herald

 

One constant in human life is change. However, when it comes to the daily life and ministry of renowned Nigerian clergyman and Senior Pastor of Grace Nation International, also known as Liberation City, Dr. Chris Okafor, one attribute remains unwavering—his deep and uncompromising devotion to prayer.

 

Dr. Okafor is a man whose life revolves entirely around prayer. He prays while living, eating, traveling, and ministering. Remarkably, except during church services or official engagements, he devotes an average of eight to ten hours daily to prayer. This disciplined prayer life forms the bedrock of his ministry and has been the guiding principle through which he overcomes challenges and continues to thrive. Indeed, he prays as though there is no tomorrow.

 

Those who associate closely with him understand that prayer is non-negotiable in his life. For members of Grace Nation worldwide, prayer is not merely encouraged—it is a way of life. Grace Nation citizens are known for their strong prayer culture, as prayer remains their primary spiritual weapon. As scripture affirms, prayer has the power to turn unexpected challenges into testimonies and breakthroughs.

 

Returning to the Set Man of Grace Nation Worldwide, Dr. Chris Okafor is widely acknowledged as a dedicated prayer warrior. His lifestyle of prayer has been affirmed repeatedly by fellow men of God who have encountered him personally.

One of his closest covenant brothers recently shared a testimony during a flagship Grace Nation conference in Lagos.

 

He recounted traveling with Dr. Okafor to the United States for a major conference. On the morning of the event, after preparing to depart early, he knocked on Dr. Okafor’s door—only to discover that the Generational Prophet was still deeply engaged in prayer. When the door was eventually opened, Dr. Okafor explained that he was preparing spiritually ahead of the conference. The covenant brother described the experience as a clear demonstration of an uncommon prayer life.

 

Another testimony came from Pastor Wilfred, the South Africa branch pastor of Grace Nation. He described Dr. Okafor as a man who never compromises prayer regardless of circumstances. According to him, even while traveling, Dr. Okafor prioritizes prayer over rest. He narrated a particular experience in South Africa where Dr. Okafor was scheduled to minister at 9:00 a.m. The previous night, Pastor Wilfred left him early to allow him to rest. However, repeated calls went unanswered as Dr. Okafor had already commenced prayer.

 

The following morning, upon arriving to pick him up, Pastor Wilfred heard prayers from behind the door. After waiting for over an hour, he joined in the prayers. It was only after several more hours that Dr. Okafor opened the door—having not slept throughout the night. Such accounts underscore his unwavering commitment to prayer, earning him the reputation among his peers as a true prayer warrior.

Dr. Okafor’s prayer life has also resulted in numerous testimonies. Many attest that while praying, God speaks to him directly, providing divine direction and intervention. There have been accounts of miraculous breakthroughs through prayers conducted over the phone and even across distances.

 

In one instance, a woman who had been in labor for over three hours contacted Dr. Okafor, who prayed for her, and she delivered immediately.

In another testimony, a man who had been kidnapped for 80 days was released without ransom after Dr. Okafor prayed. Similarly, a young man who had been wrongly detained for nearly four years was freed the same day Dr. Okafor prayed concerning his case. The matter was reviewed, leading to his release and compensation for wrongful detention.

 

Beyond prayer, Dr. Chris Okafor’s life of philanthropy continues to leave an indelible mark on society. In Part One of this series, attention was drawn to his immense humanitarian efforts through the Chris Okafor Humanity Foundation, particularly in supporting widows, providing scholarships for the less privileged, and transforming the host community of Grace Nation International Headquarters in Lagos.

 

In Part Two, focus will be placed on his contributions to youth talent discovery—especially in sports—artisan empowerment, support for victims of xenophobic attacks in South Africa, and sustained monthly outreach to homes of the less privileged in Lagos.

Dr. Okafor’s philanthropic vision transcends human imagination. One of his core missions is to deliver people from the grip of darkness and empower them to become productive individuals within society. This vision is actively pursued through the Chris Okafor Humanity Foundation, which operates both locally and internationally.

 

During the xenophobic crisis in South Africa, Dr. Okafor personally traveled to Johannesburg to console and encourage Nigerian victims. Through his foundation, millions of naira were donated to support medical treatment and rehabilitation—an act of compassion worthy of emulation.

The foundation has also invested significantly in youth development through Liberation City FC, discovering and nurturing football talents. To date, more than five players trained by the foundation are currently plying their trade with major football clubs abroad.

 

Artisan empowerment remains another major achievement. Over 2,000 artisans have been trained in various skills, including bead-making, barbing, hairdressing, tailoring, and beverage production. After training, beneficiaries are provided with start-up capital to establish their businesses.

Additionally, the foundation conducts monthly outreach to communities of physically challenged individuals in the Yaba area of Lagos State, providing food supplies and educational scholarships for their children, alongside spiritual support through prayer.

 

The list of impactful interventions by the Chris Okafor Humanity Foundation is extensive and continually growing.

Dr. Chris Okafor: A Philanthropist Par Excellence and a Man of Prayer

By Sunday Adeyemi, Society Herald

In Part Three of this series, we will examine the factors behind the sustained growth and resilience of Grace Nation and the Chris Okafor Humanity Foundation in the face of diverse challenges.

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FAREWELL TO A MULTI-TALENTED SOUL, A BELOVED FRIEND Princess Allwell Ademola “Eniobanke” – Ayo Mojoyin

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As the remains of my bosom friend, Princess Allwell Ademola, fondly known as Eniobanke, are laid to rest today at Atan Cemetery, Yaba, words remain painfully inadequate to capture the depth of this loss. Her passing has left a void that is both personal and profound.

I have known Allwell since 2008, and long before the cameras found her, I first knew her as a musician a gifted singer whose voice carried emotion, hope, and sincerity. Music was her first language. Through her songs, she expressed her soul, her struggles, her faith, and her dreams. Acting came later, and even then, she approached it with the same passion and authenticity that defined her music.

As an actress, Eniobanke blossomed into a compelling performer, effortlessly bringing characters to life and earning admiration within the creative industry. Yet, beyond her artistic talents, what truly defined Allwell was her heart kind, loyal, gentle, and deeply human. She was a friend who stood firm in times of joy and hardship, someone whose presence alone brought comfort and reassurance.

Our friendship, built over years of shared experiences, conversations, laughter, and silent understanding, is one I will forever cherish. She believed deeply in people, supported dreams without hesitation, and loved without conditions.

Her humility remained intact despite the recognition she earned, and her sincerity never faded.

Her departure is a painful reminder of life’s fragility. Today, we mourn not only a talented musician and actress, but a daughter, a sister, a colleague, and a true friend whose life, though short, was rich with impact.

The creative space she occupied will feel her absence, but her works both in music and film will continue to speak for her.

As we say our final goodbye, we find comfort in knowing that she lived authentically, loved genuinely, and gave her best to her craft and to those around her.

Though she has taken her final bow, her voice will continue to echo in our memories, her performances will remain timeless, and her spirit will live on in the hearts she touched.

Rest in perfect peace, my dear friend.
Your song has not ended it has simply changed form.

*Ayo Mojoyin Principal Partner at The City Pulse, Former National President, NGIJ*

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