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Iyaloja Concept Not Recognized in Our Culture, Benin Monarch Tells Tinubu’s Daughter
Oba of Benin, Ewuare II, has bluntly told Mrs. Folashade Tinubu-Ojo, the daughter of President Bola Tinubu, that the ‘Iyaloja’ concept is alien to Benin culture.
The Oba spoke when Mrs. Tinubu-Ojo visited the palace to inform him that she is in the State to inaugurate Pastor Josephine Ivbazebule as the Iyaloja of all markets in Edo State.
The Benin monarch, having carefully listened to Tinubu-Ojo, asked her if she (Tinubu-Ojo) knew what Iyeki (market leader) in the Benin Kingdom means and the connection with the palace.
The Oba told the Iyaloja General that in the Benin Kingdom, the Iyeki must be confirmed by the palace after being selected by the market women.
Oba Ewuare II told Tinubu-Ojo that the Iyeki performs certain cultural roles on his behalf in the markets, outside her role of coordinating the affairs of traders in the market.
He said the Iyeki has a special relationship with the palace and performs expected roles in the shrine located in every market.
The Oba said: “Iyaloja is alien to us here in Benin. You are in Benin, the home of culture; we have our culture here. I have discussed this matter with my chiefs and those who are knowledgeable. Do you know the role of Iyeki in Benin culture? Every Iyeki has a special relationship with the palace. Are you aware of that? Do you know that every Iyeki has a cultural role to perform inside every market?
“The Oba does not interfere so long as the Iyeki does what is expected of her in the shrine of a particular market on behalf of the Oba. We are not going to say much, except to explain to you the concept of Iyeki in Benin.”
Chief Osaro Idah, whom the Oba permitted to enlighten Tinubu-Ojo, also added: “Iyeki is independent in every market, like the Oba Market, Ogiso Market, and others. The traders select their leaders from within the market. The Iyeki do more than the role of coordinating traders.
“There are certain shrines in all the markets. They play certain roles on behalf of the palace. After their selection, they bring the person to the palace for confirmation.
“The novelty of a general Iyeki is alien to Benin custom and tradition. We just believe the Iyaloja is your socio-cultural thing, like you have other clubs.
“It is not in our culture to have a general Iyeki. Iyeki is particular to each market. No one has the right to control another in a different market. The Iyeki in Oba Market has no role to play in Ogiso Market. The Oba established the market for all in the society.”
All Progressives Congress (APC) governorship aspirant in Lagos State, Samuel Ajose, has declared that the endorsement of Deputy Governor Obafemi Hamzat as the next governor by Governor Babajide Sanwo-Olu and the Governance Advisory Council (GAC) will not stand.
GAC, regarded as the highest decision-making body of the All Progressives Congress in Lagos State, endorsed Hamzat, as its consensus candidate for the 2027 governorship election.
The decision was reached during a closed-door meeting held at Lagos House, Marina, indicating an early alignment within the ruling party ahead of the next electoral cycle.
Speaking after the session, GAC leader, Tajudeen Olusi, said members unanimously agreed on Hamzat, expressing confidence in his ability to sustain and build on the state’s developmental progress.
Olusi explained that the meeting was convened to deliberate on the party’s forthcoming primaries and assess the governorship position ahead of the 2027 elections.
Speaking about the GAC adoption of Hamzat as Lagos APC consensus 2027 governorship candidate on Arise News on Tuesday, Ajose said that Sanwo-Olu and others are trying to force President Tinubu into making a decision.
“I don’t think our president, Asiwaju Bola Ahmed Tinubu, is giving in to what they are doing.
“What they are just trying to do is to coerce him into taking a decision, and I don’t think that decision will stand.”
The House of Representatives has approved President Bola Tinubu’s request to borrow Five Hundred and Sixteen Million, Three Hundred and Thirty-three Thousand, seven ($516,333,007) US dollars in syndicated financing from Deutsche Bank AG.
The House approved it during the plenary on Tuesday in Abuja after the presentation of a report by the deputy chairman of the House Committee on Aids, Loans, and Debts Management, Abdullahi Rasheed.
The money is expected to fund the construction of sections of the Sokoto–Badagry Super Highway.
President Tinubu wrote to the lawmakers, seeking a $516.3 million loan from Deutsche Bank to support the construction of the road.
The president said the loan, to be sourced from a syndicated financing facility by Deutsche Bank, will fund sections 1, 1A, and 1B of the project, which covers about 120 kilometres.
Tinubu requested a resolution in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to enable the federal government to secure the financing for Sections 1, Phase 1A, and Phase 1B of the project.
The project is a flagship initiative of Tinubu’s Renewed Hope Agenda and is targeted at enhancing national connectivity, improving the movement of goods across key economic corridors, and drastically shrinking travel time.
The 1,000-kilometre project will link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, connecting Illela to Badagry.
According to him, the financing arrangement will be backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
He said the Federal government will provide counterpart funding of over N265 billion for land acquisition, compensation, and related infrastructure.
The former Lagos governor said the loan is structured for nine years and includes a three-year grace period.
It has an interest rate pegged at the Chicago Mercantile Exchange SOFR plus 5.3 per cent per annum.
Already, the Federal Executive Council has approved the financing plan.
Operatives of the Economic and Financial Crimes Commission have arrested a former chairman of defunct Skye Bank Plc, Tunde Ayeni, over alleged money laundering, misappropriation and diversion of funds amounting to N36.54bn and $30m.
Ayeni, a businessman, was arrested in Abuja on Thursday, and is currently being held at the commission’s facility.
The arrest followed an EFCC probe into alleged misappropriation and diversion of funds said to have been obtained from Polaris Bank through multiple entities linked to him.
“Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested a former board chairman of defunct Skye Bank Plc and businessman, Tunde Ayeni, in connection with alleged money laundering, misappropriation and diversion of funds to the tune of N36,540,058,400.00 and $30m.
“Ayeni was arrested sequel to the investigation of the EFCC into alleged misappropriation and diversion of funds to the tune of N36,540,058,400.00 and $30m obtained from Polaris Bank Plc by different entities linked to him.
“The funds were loans obtained allegedly for specific investment projects but subsequently transferred to other entities’ accounts. Investigations showed that, though the loans were obtained for purposes such as finance of marine security activities, electricity distribution contract, estate development, they were diverted to the NITEL/MTEL asset acquisition through NATCOM account,” one of the sources said.
Another source said the commission is currently probing 12 companies allegedly linked to Ayeni, which it said were used to obtain the loans from Polaris Bank.
“Twelve different companies linked to Ayeni are being investigated by the EFCC. They are entities he allegedly used to obtain loans from Polaris Bank for his shady activities. The loans are depositors’ funds fraudulently obtained and frittered into diverse wasteful purposes. Ayeni will be arraigned in due course upon conclusion of investigations,” the source said.
When contacted, EFCC spokesman Dele Oyewale confirmed the arrest but declined to give further details.
The Punch
