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  • Major CEOs bullish on Nigeria’s economic outlook, PwC survey shows

    Major CEOs bullish on Nigeria’s economic outlook, PwC survey shows

    • Decision makers

    Business leaders and decision-makers are confident the Nigerian economy is on the right track to sustained growth, a survey by PwC has shown.

    The 29th Annual Global Chief Executive Officer (CEO) Survey showed that nine out of every 10 business leaders believed the macroeconomic outlook would continue to improve, with the highest level of confidence in Nigeria nearly double of global average.

    PwC stated that despite certain constraints, Nigeria’s corporate leaders are entering 2026 with renewed confidence.

    This was part of the highlights at the Executive Roundtable on the 2026 Budget and Economic Outlook organised by PwC in Lagos. The roundtable had as its theme: “Nigeria’s Economic Outlook 2026: The Executive Playbook for Growth, Resilience, and Efficiency.”

    At the event, PwC formally launched Nigeria’s results from its 29th Annual Global CEO Survey, revealing that 90 per cent of Nigerian CEOs expected the economy to improve within the next 12 months, up sharply from 64 per cent a year earlier and far ahead of global peers.

    Country Senior Partner, PwC Nigeria, Sam Abu, attributed the shift in sentiment to recent macroeconomic reforms.

    “Nigeria has achieved improved macroeconomic stability, reflecting the impact of disciplined monetary and foreign-exchange reforms,” Abu said.

    According to him, while stability is not the end goal, CEOs today are looking at the world through two lenses: a microscope for near-term threats such as geopolitical tensions and cyber threats, and a telescope for long-term opportunities in strategic reinvention, technology, data, and AI.

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    He said: “Our CEO Survey shows optimism is rising: 90 per cent of Nigerian CEOs expect the economy to improve over the next 12 months, and 56 per cent are very or extremely confident in their organisation’s revenue growth, compared with 30 per cent globally. Success in 2026 will depend on how businesses convert stability and confidence into productivity and sustainable growth”.

    Abu pointed to concrete economic improvements underpinning confidence. He explained inflation has eased to 14.45 per cent, the naira has stabilised around N1,400 to a dollar, and foreign exchange reserves have climbed above $45 billion.

    “Nigeria is standing on solid ground, even against the backdrop of sub-Saharan growth and uncertainty at home and abroad. Stability isn’t a destination. It is a platform,” Abu said.

    From the media and policy engagement angle, BusinessDay Publisher Frank Aigbogun stressed the private sector’s responsibility in sustaining growth.

    He said: “We must be deliberate in focusing on aspects of the economy that directly impact private sector performance”.

    He warned that Nigeria can only fund a fraction of its infrastructure needs noting that stronger tax compliance and civic engagement are now unavoidable. The roundtable was convened in partnership with BusinessDay.

    That optimism was tempered by a blunt fiscal assessment from Kenneth Erikume, PwC Partner and Tax Reporting and Strategy Lead. The country, he said, has run persistent deficits for years, with spending consistently outpacing revenue. “If this was a picture of my personal finance, my wife would have filed for divorce already. You don’t have a sustainable entity where you have consistent expenditure outperforming,” he remarked.

    The numbers are stark. According to Erikume, Nigeria’s 2026 fiscal deficit stands at N24 trillion, while debt service consumes about 45 per cent of every naira earned. Although the budget has risen to $41 billion in dollar terms, he noted that the country’s per capita budget is just $288, compared with $2,325 in South Africa and $4,000 in Mexico. “That level of government investment is not enough. There has to be private sector participation to unlock the country’s potential,” he said.

    He added that slow capital releases in 2025, compounded by 2024 budget rollovers, have delayed Nigeria’s ambition to build a $1 trillion economy.

    Still, Erikume highlighted a structural shift: “For the first time in a long time, there is alignment between the government’s fiscal strategy and its tax strategy.” Reforms now emphasise efficiency, data and technology in tax administration, alongside incentives such as 5 per cent economic development tax credits, five-year gas infrastructure tax holidays, and targeted focus on healthcare, education and agriculture.

    The panel discussion, moderated by the Partner and Africa Family Business Leader at PwC, Esiri Agbeyi, featured the Managing Director and CEO of Renaissance Africa Energy Company, Tony Attah; the Interim Managing Director of Cadbury Nigeria Plc, Folake Ogundipe; the Managing Partner and Co-founder of Verod Capital, Danladi Verheijen; the Managing Director, West Africa, Equinix, Wole Abu; and the Regional Senior Partner, West Market Area, PwC Nigeria, Sam Abu.

    The sectoral discussions began with energy, where the CEO of Renaissance Africa Energy Company, Tony Attah described a historic transfer of assets. “Indigenous operators now control 50 per cent of Nigeria’s oil production. The internationals are leaving, and Nigerian independents are stepping in. Something big is happening,” he said.

    Renaissance’s acquisition of Shell’s assets in March 2025 symbolises that shift, according to Attah. “Shell operated here for 65 years, and now a Nigerian company is taking over,” Attah said, noting widespread scepticism at the time. Unlike the traditional extractive model, Renaissance, he said, is pursuing domestic value creation. “We cannot be purely extractive. Where do you create value if it’s not here in Nigeria and for Nigerians?”

    On energy transition debates, Attah was blunt. “You can’t transition from what you don’t have,” he said, noting that over 600 million Africans lack reliable energy access. “Energy availability is directly proportional to poverty.”

     Nigeria has oil and gas, yet we are energy poor. Our mission is to change that.”

    From the consumer goods sector, Interim Managing Director of Cadbury Nigeria, Folake Ogundipe said the worst of recent volatility may be easing. “Two or three years ago, it was about reacting, surviving, firefighting. Now, I can confidently say there is relief and progress,” she said.

    According to her, the company’s strategy centres on profitable growth through fewer, stronger products offered in affordable pack sizes. “We will focus on SKUs that meet Nigerian needs and protect margins,” Ogundipe said, adding that supply chain reforms, distribution expansion and improved energy availability could unlock major productivity gains.

    In contrast, the Managing Partner at Verod Capital, Danladi Verheijen, painted a tougher picture for private equity. Currency devaluation, he said, has eroded dollar returns, pushing global investors elsewhere. “Only a handful of funds are generating positive cash returns,” he said, noting capital flight to Asia.

    Verheijen indicated that the company has adopted a highly selective approach, completing only zero to four deals per year and focusing on non-discretionary, counter-cyclical sectors with natural FX hedges. “Backing exceptional management teams consistently outperforms the inverse,” he said.

    Digital infrastructure emerged as another long-term bet. The Managing Director for West Africa at Equinix, Wole Abu said the company’s acquisition of MainOne for over $300 million, followed by more than $100 million in expansion, reflects a 25-year view of Nigeria.

    The company, he said, is building four AI-ready data centres, positioning Nigeria for the next wave of AI-driven demand. “Our business is less about year-on-year cycles and more about long-term infrastructure,” Abu said, noting that global diversification provides natural hedges.

    The panel reached consensus that artificial intelligence has evolved from experimental technology to a board-level strategic priority. Sam Abu highlighted that only 30 per cent of companies currently realise revenue gains or cost efficiencies from AI deployments.

    “A major African multinational recently appointed a chief AI officer tasked with driving AI implementation across 17 countries, signalling the elevation of AI leadership to C-suite importance,” Abu noted. According to him, organisations are establishing AI governance committees at board level to ensure proper oversight, as approximately 90 per cent of companies struggle with enterprise AI adoption.

    “AI represents a fundamental strategic conversation rather than merely a technical implementation, requiring CEO-level engagement to drive meaningful transformation. Companies demonstrating strong trust frameworks and minimal cybersecurity concerns are delivering shareholder returns approximately 90 per cent higher than peers with significant trust issues,” Abu emphasised.

    He stressed that digital transformation requires strategic rather than purely technical discussions, with CEO-level involvement crucial for success as many transformation projects fail due to inadequate leadership engagement. “Businesses cannot maintain status quo approaches without risking obsolescence, necessitating organisational reinvention supported by robust governance, cybersecurity controls, and clear accountability structures,” he said.

    Attah expressed particular enthusiasm about AI’s potential to revolutionize seismic data interpretation in exploration and production. “The industry’s evolution from 2D to 3D seismic technology previously unlocked significant value by extending field life and discovering bypassed reserves, and AI promises similar breakthroughs by reinterpreting vast volumes of existing data,” he said.

    With over 300 wells containing legacy data, AI-enabled reinterpretation, Attah underlined, could identify sidetracking opportunities and bypassed pay zones without requiring new field developments. “The technology’s ability to accelerate decision-making and reduce time-to-insight represents transformative potential,” he added.

    Looking toward 2026, executives identified three critical technology trends: widespread AI adoption moving from pilots to enterprise-wide integration, data sovereignty as governments implement policies protecting national data independence, and heightened cybersecurity as essential protection for increasing data utilisation.

  • FAAN begins implementation of new cargo tariff

    FAAN begins implementation of new cargo tariff

    A new aviation cargo pricing regime begins today as the Federal Airports Authority of Nigeria (FAAN) implemented its first cargo port charge increase in 18 years, raising tariffs from N7 to N20 per kilogram.

    The price adjustment, which according to FAAN, is due to the 287 per cent cumulative inflation since 2008 and rising foreign exchange pressures, has ignited strong resistance from freight forwarders who warn of higher business costs and reduced cargo volumes.

    FAAN said the tariff review, long delayed, reflects economic realities that have made airport operations increasingly unsustainable under outdated charges. According to the authority, data from the National Bureau of Statistics shows that a service priced at N7 in 2008 would cost about N27.09 today to retain the same purchasing power. By setting the new tariff at N20 per kilogram, FAAN said it deliberately opted for a level below full inflation adjustment to balance cost recovery with industry sustainability.

    “FAAN has increased tariffs after careful consideration of current economic realities. Our tariffs have remained static since 2008,” the authority said. “Over the past 18 years, Nigeria has experienced significant inflation and a drastic depreciation of the naira. This adjustment is essential to sustain and upgrade critical airport infrastructure, which has become financially unsustainable under the old rates.”

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    FAAN noted that foreign exchange volatility has further strained operations. In 2008, the naira exchanged at about N118 to the dollar, compared with roughly N1,500 today. It said the impact has been severe because most critical airport infrastructure such as runway asphalt, aerodrome lighting systems and fire truck components are imported, pushing operating and maintenance costs up by more than 1,000 per cent in naira terms.

    FAAN said the decision to proceed with the tariff increase followed the stabilisation of cargo operations and the closure of major revenue leakages, particularly at Lagos and Abuja airports. An operational report by the authority showed that while cargo throughput declined in 2025 compared to 2024, revenue performance improved due to higher collection efficiency driven by targeted reforms.

    One of the most significant changes was the relocation of FAAN operational personnel and revenue-collection desks back into cargo warehouses operated by the Nigerian Aviation Handling Company (NAHCO) Plc and Skyway Aviation Handling Company (SAHCO). FAAN said the move addressed long-standing oversight lapses that allowed revenue to escape official systems.

    A senior FAAN official who spoke on the condition of anonymity explained that reform had to come before pricing. “Before now, even if we increased tariffs, a large portion of the revenue would still have been lost due to operational gaps. The reforms were necessary to ensure that whatever revenue is due to FAAN is fully captured,” he said.

    The authority is also rolling out a courier revenue optimisation framework, which will replace the existing aggregate billing structure with a per-kilogram charging model for courier operators. FAAN said the current system has been exploited in ways that limit revenue collection, adding that the new model would improve fairness and transparency.

    Despite FAAN’s explanations, freight forwarding groups have pushed back strongly.

    The Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) described the tariff increase as excessive and poorly timed, questioning its justification in the absence of visible improvements in cargo infrastructure.

    In a statement signed by its President, Otunba Frank Ogunojemite, APFFLON said: “This increase comes against the advice and objections of key industry stakeholders and will worsen the already high cost of doing business in Nigeria. It will undermine efforts to promote non-oil exports and make Nigerian goods less competitive in the international market.”

    The association called on FAAN and the Federal Government to suspend the adjustment and reopen consultations to find a more balanced approach to revenue generation that does not stifle trade.

    Aviation analyst and former Rector of the Nigeria College of Aviation Technology, Capt. Samuel Caulcrick, cautioned that higher charges could push shippers away from air transport. “Except some urgent, must-go cargoes which are usually parcels, I don’t think it would be profitable for any shipper. The shipper has options. If it is not urgent, the shipper can put it on a truck or train or by sea. So if FAAN will now have to add their own again, they are just going to kill the business,” he said.

    FAAN, however, maintained that Nigeria’s cargo charges remain competitive within the sub-region, noting that rates at Nigerian airports had previously been lower than those at hubs such as Kotoka International Airport in Ghana and Cotonou Airport in Benin Republic.

    The tariff hike comes at a time of strong growth in Africa’s air cargo market. International Air Transport Association (IATA) data shows that African airlines recorded 6.0 per cent year-on-year air cargo demand growth in 2025, with December demand rising by 10.1 per cent—the highest of any global region. “Air cargo delivered a strong performance in 2025, with demand up 3.4 per cent year-on-year,” IATA Director General Willie Walsh said.

    FAAN clarified that the cargo port charge is separate from fees charged by concessionaires for handling, storage and documentation within private terminals. The authority said its charge covers shared airport infrastructure, including runways, taxiways, perimeter fencing, security, access roads and airfield lighting.

    The authority added that most Nigerian airports require urgent upgrades in terminal facilities, runways, taxiways, aprons, baggage handling systems, power supply and perimeter security—projects requiring billions of naira. “Without adjusting charges to reflect realistic cost-recovery models, FAAN cannot maintain critical infrastructure, improve airport safety, support airline growth, expand capacity for cargo and passenger traffic, and compete with regional airports like Accra, Kigali, Addis Ababa and Johannesburg,” it said.

    FAAN also disclosed that it has been excluded from the 2026 Federal Budget, reinforcing its status as a self-sustaining agency. The authority said revenue from the revised tariff would support critical projects and its “Operation Go-Cashless” initiative aimed at deploying automated, contactless payment systems across airport terminals.

    Downplaying fears of inflationary impact, FAAN said the cargo port charge represents only a small fraction of total air freight costs and argued that improved infrastructure could reduce delays, enhance turnaround times and improve efficiency across the cargo value chain.

    As implementation begins, FAAN said it remains committed to reinvesting proceeds from the revised tariff into cargo infrastructure and maintaining engagement with stakeholders to ensure transparency and accountability as the reform process unfolds

  • Pension assets rise to N27.45 trillion

    Pension assets rise to N27.45 trillion

    Nigeria’s pension assets rose to N27.45 trillion in December 2025, recording an N399.27 billion month-on-month increase, according to the National Pension Commission’s unaudited industry portfolio report for the period ended December 31, 2025.

    The Nation found that the latest figure represents growth from N27.05 trillion recorded in November 2025, reinforcing the steady expansion of the pension industry despite portfolio rebalancing across key asset classes.

    PenCom’s report, which covers approved existing schemes, closed pension fund administrators and Retirement Savings Accounts (RSAs), shows that Federal Government of Nigeria (FGN) securities remained the backbone of pension investments, accounting for N16.33 trillion of total assets in December, marginally higher than N16.33 trillion recorded in November.

    Within the FGN securities portfolio, Federal Government bonds held to maturity declined slightly to N12.83 trillion in December from N12.92 trillion in November, reflecting valuation movements and selective repositioning by pension fund operators.

    In contrast, FGN bonds available for sale increased to N2.63 trillion from N2.59 trillion, indicating a measured shift toward more liquid sovereign instruments.

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    Treasury bills recorded a notable increase, rising to N761.09 billion in December from N675.50 billion in November, as fund managers’ increased short-term sovereign exposure amid evolving interest rate dynamics.

    Equity investments emerged as one of the strongest contributors to December’s asset growth.

    Domestic ordinary shares climbed to N3.96 trillion in December, up from N3.70 trillion in November, supported by improved stock market performance and year-end portfolio adjustments while Foreign ordinary shares remained broadly unchanged at N263.94 billion, reflecting continued caution around offshore equity exposure.

    Investments in corporate debt securities also increased, rising to N2.20 trillion in December from N2.15 trillion in November.

    The growth was driven mainly by corporate bonds held to maturity, which expanded to N1.40 trillion from N1.33 trillion, signalling preference for stable, long-term income instruments.

    However, corporate bonds available for sale declined slightly, showing some profit-taking and cautious risk management.

    By contrast, money market instruments declined to N2.62 trillion in December, down from N2.81 trillion in November. Fixed deposits and bank acceptances fell to N2.27 trillion from N2.44 trillion, reflecting reduced short-term placements as funds were redirected toward equities, infrastructure and selected fixed-income securities.

    On the other hand, alternative assets recorded mixed performance. Infrastructure funds increased to N282.14 billion in December from N257.23 billion in November, highlighting the pension industry’s growing participation in long-term development financing. Real estate investments also rose to N170.76 billion from N145.99 billion, while private equity holdings declined modestly to N238.53 billion from N248.54 billion.

    Cash and other assets rose sharply to N746.97 billion in December, compared with N520.38 billion in November, reflecting higher liquidity buffers typically associated with year-end positioning and settlement flows.

    Overall, the pension industry recorded net asset growth of N399.27 billion in December, slightly higher than the N391.23 billion increase recorded in November, underscoring resilience in pension fund performance despite macroeconomic pressures.

    In the same vein, RSA membership also rose to 11.04 million contributors as at December 31, 2025, up from 11.01 million recorded in November, indicating continued expansion in pension coverage nationwide.

  • Ibadan community gets free medicare

    Ibadan community gets free medicare

    Residents of Ireakari Estate, Ibadan have benefited from free medical services offered by the Lagos New Emerald Lions Club.

    The club said it was part of its Annual Health Mission 6.0 to the community.

    The outreach, organised under Lions International District 404B2 Nigeria, drew men, women and elderly residents who arrived early to access basic medical care that many said was often beyond their reach due to cost and distance.

    President, Lagos New Emerald Lions Club, Olaide Kadiri, said the outreach formed part of a broader effort to deliver healthcare services to communities across several states during the service year. She added that the mission remained central to the club’s commitment to service, compassion and community development.

    Health professionals and volunteers carried out malaria and typhoid tests, blood pressure checks for hypertension, blood sugar screening for diabetes, eye examinations and general body assessments. Beneficiaries received essential medications on the spot, while those with more serious conditions were counselled and referred for further medical attention.

    Residents described the intervention as timely, noting that many people rarely went for routine health checks until illnesses became severe. Some said the screenings helped them detect health challenges early and take steps toward proper treatment.

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    Mrs Aishat, who spoke in Yoruba, expressed joy over the outreach and thanked the Lions Club for bringing relief to her community, saying the exercise showed concern for ordinary people who struggled to afford hospital care.

    Mr Seun Aina said the initiative reflected true humanitarian service, noting that both young and old residents were examined and treated, with referrals given where necessary. He commended the Lagos New Emerald Lions Club for the gesture and said the experience had inspired him to consider joining the organisation.

    Community representatives also praised the initiative, saying it reduced the financial burden of healthcare on households and increased awareness about the importance of preventive health practices within the estate.

  • LAWMA warns against attacks on enforcement officers

    LAWMA warns against attacks on enforcement officers

    Lagos State Waste Management Authority (LAWMA) has warned the public against attacking, harassing or obstructing its enforcement officers.

    Its Managing Director/Chief Executive Officer, Dr. Muyiwa Gbadegesin, expressed concern over recent incidents in which its personnel were allegedly threatened or assaulted on duty, describing such actions as unacceptable.

    He said enforcement officers were deployed to safeguard public health, ensure compliance with waste management regulations and maintain cleanliness.

    Gbadegesin stressed that any violence, intimidation or interference with enforcement would be resisted.

    He noted that LAWMA’s enforcement is backed by the state Environmental Management and Protection Law, 2017, adding that individuals or groups found attacking officers or disrupting lawful operations would be arrested and prosecuted accordingly.

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    The LAWMA boss urged residents to cooperate with the Authority’s officials, comply with approved waste disposal guidelines and report environmental infractions through appropriate channels rather than resorting to confrontation or self-help.

    He reaffirmed the Authority’s commitment to firm but fair enforcement, sustained public engagement and the protection of its personnel, while calling on community leaders, market associations and transport unions to support efforts aimed at promoting order, safety and environmental responsibility across the state.

    “LAWMA remains resolute in its mandate to deliver a cleaner, healthier and more liveable city for all residents,” he said.

  • EFCC arrests estate agent over N67m ‘fraud’

    EFCC arrests estate agent over N67m ‘fraud’

    Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a Lagos businessman, Alhaji Olakazeem Tijani, for an alleged land scam worth over N67 million.

    Tijani was arrested last Friday at Igando following a petition from his victim, Adekoya, dated July 14, last year.

    The suspect, it was gathered, was trailed by operatives for several months following his alleged refusal to honour lawful invitations by the EFCC and other security services.

    Adekoya in the petition submitted to EFCC’s Awolowo Road, Ikoyi office, accused Tijani and his firm, Latokatz Limited, of fraudulent misrepresentation, obtaining money under false pretence, criminal breach of trust, forgery and conversion of funds.

    He alleged that the claims arose from transactions carried out between February 2023 and January. last year, stating that he transferred over N67million from his bank accounts into Latokatz Limited’s Zenith Bank account for the purchase of properties and for construction.

    The payments, he stated, were made in two tranches: N44 million for the purported purchase of an uncompleted building in Isheri-Idimu, two shop units at Olugbede Market in Egbeda, and an acre of land along the Atan-Badagry axis; and N23 million for construction at a property in Isheri North GRA, OPIC, off the Lagos-Ibadan Expressway.

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    Adekoya alleged that the transactions were based on mutual trust and documents presented to him as proof of ownership and authority to sell the properties. However, he claimed that subsequent investigations showed that Tijani allegedly had no legal authority to sell the properties and that some of them did not exist. He further alleged that the documents presented to him were forged or unlawfully obtained.

    “I have all evidence of payments, transfers and instructions made to the Latokatz Limited Zenith Bank account,” the petitioner said, adding that despite repeated demands, no refund had been made.

    He also referenced an undertaking allegedly signed by Tijani on April 13, last year, at the palace of the Oba of Isheri-Olofin, where the dispute was initially reported. Under the agreement,Tijani was said to have promised to refund ₦44 million on or before June 8, 2025. Adekoya claimed the undertaking was not honoured.

    Citing sections of the Criminal Code Act, including provisions on obtaining under false pretence, stealing and conversion, as well as forgery and uttering of documents, the petitioner urged the EFCC to investigate the matter, arrest and prosecute the suspect, and recover the money allegedly defrauded him.

    The petition listed several documents attached in support of the claims, including bank statements, payment receipts, deeds of assignment, letters of allocation, surveys, correspondence and the alleged refund undertaking.

    Spokesman for the EFCC, Dele Oyewale, confirmed Tijani’s arrest, adding that he was still in the commission’s custody in Lagos.

    Lawyer to Tijani, Kolade Alo, said it was a case of misunderstanding between the suspect and complainant, declining further comments on the issue.

  • Alleged perpetrators of Benue killings for arraignment today

    Alleged perpetrators of Benue killings for arraignment today

    Some suspects arrested in connection with killings in Yelwata, a town in Benue State, will be arraigned today before Justice Joyce Abdulmalik of the Federal High Court in Abuja.

    Kamarudeen Ogundele, the Media aide to the Attorney-General of the Federation (AGF), Lateef Fagbemi, made this known in a statement on Sunday.

    Ogundele said the decision to arraign the suspects followed “a painstaking investigation and collaboration by government agencies.”

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    He added that “the office of the Attorney General of the Federation and Minister of Justice wishes to assure Nigerians that Justice will be ensured in the matter to send a strong signal to the enemies of the country, acting under any disguise.

    “The administration of President Bola Ahmed Tinubu is committed to the protection of lives and property of all as enshrined in the constitution.”

  • NDLEA intercepts Brazil returnee with cocaine concealed in thigh, shoe soles

    NDLEA intercepts Brazil returnee with cocaine concealed in thigh, shoe soles

    A Brazil-based Nigerian businessman, Uche Franklin Onyekwere, has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at the arrival hall of the Murtala Muhammed International Airport (MMIA) Ikeja-Lagos for concealing parcels of cocaine in his thigh and soles of his footwear.

    Babafemi said when the 47-year-old suspect was taken for body scan, the result confirmed illicit drug concealment.

    Director, Media and Advocacy, NDLEA Headquarters, Abuja, Femi Babafemi, in a statement, said Onyekwere was arrested last Thursday during the clearance of South African Airways flight passengers coming from Brazil via Johannesburg.

    He said during a strip search a big parcel of white powdery substance, which later tested positive for cocaine, was discovered wrapped around his right thigh. A further search brought out two additional wraps of the same substance hidden in the sole of his shoes worn, totalling three wraps of cocaine, with a gross weight of 1.60 kilograms.

    He said the suspect confessed that he bought the illicit drug in Brazil to resell it in Nigeria to raise capital for his business and the naming ceremony of his baby.

    The suspect has been in Brazil since 2008 and has been operating a toy business for about nine years.

    Also, Babafemi said at the Tin Can Seaport in Lagos, a total of 55 jumbo bags of Canadian Loud, a strong strain of cannabis with a gross weight of 1,183 kilograms imported from Montreal, Canada in a container, was discovered last Wednesday, during an examination of the shipment by NDLEA officers, Customs and other security agencies.

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    He said the consignments were hidden in two vehicles: a Hyundai SUV and a Toyota Matrix car.

     In Niger State, NDLEA agency nabbed on January 26, this year, a long truck marked T 31589 LA on Dei-Dei Abuja Expressway, where they arrested Andy Chidogu, 49; Kenneth Ogene, 45; and Sadiq Olanrewaju, 27, for conveying 176 bags of skunk, a strain of cannabis weighing 2,735 kilograms and one kilogram of Colorado, a synthetic cannabis, concealed in the truck.

     Ogene, who drove the truck, had left Lagos with 800 bags of flour to Ekpoma, Edo State and arrived the following day, January 24. At Ekpoma, he negotiated to ferry the 176 bags of skunk and 1kg colos for N1.7million

    In another operation, NDLEA operatives in Edo State on Tuesday arrested Shaibu Yusuf on Auchi-Abuja Express Road while looking for a vehicle to convey 66 bags of skunk concealed in bags of charcoal, weighing 792kg, to Katsina.

    Babafemi said also, in Edo, operatives supported by Nigerian Army personnel last Wednesday raided a cannabis farm at  Ebora camp, Ilushi in Esan Southeast Local Government Area where 4,063.675kg skunk was destroyed on over 1.6 hectares of farmland while 328kg processed cannabis and its seeds were recovered.

    Suspects arrested at the camp include Jeremiah Nwodeh, 46; Chukwudi Pius,33; Pius Ogaba, 46; and Onora Kwene, 35.

    Babafemi said: “In Anambra State, NDLEA operatives on Wednesday 28th January intercepted a cement truck at Upper Iweka Onitsha, heading to Nkpor in which 345.2kg skunk was found. The drug was owned by Abum Okeke, 42, one of the three occupants of the truck.

    Also arrested were Tunde Ogundele, 39, and Soji Elegbelye, 46 at Eleyewo community in Akure North of Ondo State, in connection with the seizure of 473kg skunk, while NDLEA operatives in Kano on same day nabbed Abdullahi Usman, 45, at Murtala Mohammed Way, with 12,500 ampoules of pentazocine injection . Not less than 4,390 pills of tramadol were seized from Musa Shuaibu, 42, in Gaya of Kano on January 27.

    While Oragwan Ekene was arrested last Friday at Okeyson Park, Alaba, Lagos, with 15.5kg skunk heading to Onitsha, Anambra State with the illicit consignment, 3.5kg of same psychoactive substance was recovered from a sound system and two packets of cereal found in the luggage of Omang Peter Edward at the arrival tarmac of Seme border, Badagry on January 27. The suspect was coming from Cotonou, Benin Republic into Lagos.

     Chairman/Chief Executive Officer of NDLEA, Brig.-Gen. Mohamed Buba Marwa (rtd), praised the officers and enjoined them and their colleagues to continue  the good works.

  • Banditry: Kwara reopens schools in six councils

    Banditry: Kwara reopens schools in six councils

    Kwara State government has ordered the reopening of shut schools in some local government areas of the state.

    Following the spate of banditry and kidnappings, the state government last year ordered the temporary closure of primary and secondary schools in six local government areas of Kwara North and South districts.

    The government announced that “schools across Kwara State can now reopen from Monday February 2, 2026

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     Education and Human Capital Development Commissioner, Dr. Lawal Olohungbebe said: “School authorities have been notified of the decision which came amid continuous security operations to neutralise all threats to the public, including schools.

    “The government deems the situation to be a lot better than it was before. Even so, we continue to maintain vigilance.

    “Security operations continue steadily to sustain the gains of the past weeks while the government builds community resilience along with the kinetic efforts.”

  • Police illegally released my husband’s body, widow alleges

    Police illegally released my husband’s body, widow alleges

    Widow of the late businessman and politician, Bamidele Akingboye, Mrs Christiana Akingboye, has accused the Lagos State Police Command of unlawfully releasing her husband’s body.

    Citing the Coroner’s System Law of Lagos State, she maintained that the police’s role is investigatory and ends upon completion of the post-mortem and issuance of legal advice by the Directorate of Public Prosecution (DPP).

    According to her, following the family’s exoneration by the DPP, there was no authority for the police to release the body to third parties.

    In an appeal to President Bola Tinubu, the Senate and Inspector-General of Police (IGP), Mrs Akingboye alleged that the conduct of the Police after her husband’s death amounted to abuse of power, breach of due process and a deliberate marginalisation of the deceased’s immediate family.

    She stated that following investigations, the DPP issued legal advice exonerating her and her children, effectively bringing any lawful police involvement to an end.

    According to her, there was no criminal justification for further interference by the Police.

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    Mrs Akingboye alleged that confidential investigative documents, including the DPP’s legal advice, were leaked online and circulated by a foreign-based blogger before the police communicated the outcome to her or her children.

    “The police have not communicated the outcome of the investigation to us till date. We only read about it online,” she said.

    The widow further accused the police of mishandling her late husband’s personal effects.

    She said her husband’s mobile phones were collected from her as evidence, alongside his medications.

    According to her, the phones were later released to her estranged stepson, while the drugs collected from her have not been returned.

    She added that repeated demands for the return of the deceased’s belongings were ignored, raising concerns that investigative protocols and the chain of custody were compromised.

    Mrs Akingboye said her lawyers wrote to the Police and morgue, warning that neither her husband’s body nor his personal effects should be released to any person without the consent of the immediate family or an order of court.

    Despite this, she said officers at the State Criminal Investigation Department (SCID), Panti, Lagos, invited both parties to a meeting on January 23.

    She explained that the only issue concluded at the meeting was the return of her family’s passports, which were handed over, adding that the Police promised to convene another meeting the following week to address outstanding issues.

    “Till now, no one has called us,” she said.

    Days later, Mrs Akingboye said the family learnt from a family source that the remains of her husband had been released quietly to her estranged stepson and unknown persons, without notice to her, her consent and any court order.

    She added that the phones and medications collected from her are also yet to be returned.

    Citing the Coroner’s System Law of Lagos State, she maintained that the police’s role is strictly investigatory and ends upon completion of the post-mortem and issuance of legal advice by the DPP.

    She argued that following the family’s exoneration, there was no lawful authority for the police to release the body to third parties.

    Mrs Akingboye alleged that while her estranged stepson enjoyed preferential access and outcomes, the widow and children of the deceased were misled and kept in the dark.

    She said several petitions were written to the Inspector-General of Police, but none resulted in restraint or accountability.

    Expressing concern for her safety and that of her children, Mrs Akingboye called on the President, the Senate Committee on Ethics and Public Petitions and the IGP to order an independent investigation, insisting that Nigeria must not allow power to override justice, even in death.