Author: The Nation

  • Ex-GAC member Ajose eulogised

    Ex-GAC member Ajose eulogised

    Mr Sunny Ajose Jnr., first son of the late former apex leader of All Progressives Congress (APC) in Badagry, Lagos State, Dr Akinsanya Sunny Ajose, said losing their father had shattered their world.

    He said this yesterday in a statement signed by Prince Sunday Oke, private secretary and media aide to the late APC leader in Badagry.

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    The eldest son of the Governance Advisory Council (GAC) member, on behalf of the family, said a year without their father had been a lesson in reshaping their worldview.

    “As we come together to celebrate his memory, we remain inspired by upholding the values he embodied through kindness, honesty and integrity.

    “May his legacy remain the light that guides us. May he rest in peace,” he said.

  • Champion Breweries redeems N4.21b Series 1 Commercial Paper

    Champion Breweries redeems N4.21b Series 1 Commercial Paper

    Champion Breweries has announced successful redemption of N4.21 billion Series 1 Commercial Paper Notes upon maturity.

    The bond was issued under its N15 billion Commercial Paper Issuance Programme.

    The Series 1 Commercial Paper provided cost-effective short-term financing, boosting the company’s liquidity and cash flow management.

    The 50 per cent oversubscription of the Series 1 and 2 Commercial Paper demonstrates strong investor confidence in Champion Breweries’ credit profile and ability to deliver sustainable stakeholder value. The Series 1 Commercial Paper had a tenor of 176 days at a discount rate of 21.1081 per cent.

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    The full and timely redemption of the Series 1 Commercial Paper reflects Champion Breweries’ disciplined financial management and prudent treasury practice, while reinforcing confidence by participants in Nigerian debt capital markets in the company’s operational resilience and liquidity management framework.

    Dr. Inalegwu Adoga, managing director, said: “This successful redemption highlights our commitment to financial discipline and transparency. It is a testament to the trust our investors place in us and strengthens our ability to execute our long-term growth strategy while delivering value to all stakeholders.”

    Champion  Breweries remains focused on strengthening its financial position, maintaining stakeholder confidence, and executing its growth strategy with discipline and transparency.

    The Commercial Paper Programme forms part of the company’s broader capital markets strategy and provides flexible access to funding in line with prevailing market conditions.

  • Junior Chamber unveils 2026 national agenda

    Junior Chamber unveils 2026 national agenda

    Junior Chamber International Nigeria has unveiled its 2026 agenda, reaffirming its commitment to youth leadership development, nation-building, and institutional sustainability under the motto: “From Vision to Legacy” and the national theme, AMPLIFY.

    Speaking in Lagos, the President, Akinbode Abitogun, noted JCI Nigeria’s priorities, which includes programmes and initiatives to deliver lasting impact across communities and regions.

    He said: “AMPLIFY represents a shift from aspiration to execution, where ideas are strengthened into systems, leadership into legacy, and impact is made sustainable.”

    He said AMPLIFY is anchored on seven strategic pillars to strengthen the organisation and expand its relevance.

    Among others, it includes: Advancing Leadership Development, which focuses on transforming how leaders are developed, retained, and empowered within JCI Nigeria.

    Others are Membership Growth & Engagement, focusing on driving strategic recruitment and meaningful member experiences; and Partnership, which Abitogun explained as “Strengthening organisational structures, governance systems, and operational efficiency.”

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    The L in AMPLIFY, Abitogun explained to mean Leadership – creating impact that endures beyond individual tenures and leadership cycles; I in Innovation, meaning modernising processes and embracing digital transformation to remain relevant; F stands for Financial Sustainability, through which the association hopes to build strong, ethical, and sustainable financial systems; and the Y stands for You, which the presidents said stands for “Ensuring programmes remain relevant to current and future generations of young leaders.”

    The organisation in a communiqué reaffirmed its commitment to Youth leadership, National development and Institutional growth.

    Abitogun seized the occasion to announce its forthcoming Ten Outstanding Young Person (TOYP) event, designed to celebrate exceptional young Nigerians between the ages of 18 and 40 who have demonstrated leadership, innovation, and service in their respective fields.

    He called on for continued support of the media, corporate partners, development agencies, and the general public for the youth-focused initiatives and institutional development efforts of the organisation.

  • U.S-based Nigerians rally for Ondo aspirant

    U.S-based Nigerians rally for Ondo aspirant

    Some Nigerians in United States have vowed to support the political ambition of APC chieftain, Dr Michael Ajilo, in Ondo East/West Federal Constituency in 2027.

    In a statement by their spokesperson, Kayode Abegunde, yesterday, they noted that the constituency needs someone like Dr Ajilo.

    The statement reads: “We are delighted that Dr Michael Akintomide Ajilo is putting himself forward to serve.

    “There is no doubt Ajilo will represent his people well.

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    “He has rendered support to constituents even without holding political office. Many projects he has executed with his money can attest to this.

    “It is on this note we are letting the people know we back Ajilo’s ambition and will help him actialise his dreams.”

    Abegunde, a former Delaware State Insurance commissioner candidate, urged Ajilo  to be focused and not allow himself to be distracted, saying he has all it takes to make his political ambition a reality.

  • Banks, fintechs to take VAT on mobile, USSD transfer charges

    Banks, fintechs to take VAT on mobile, USSD transfer charges

    Banks and Financial Technology (Fintech) firms are to take Value Added Charge (VAT) on certain electronic banking charges from January 19.

    Charges on mobile banking and Unstructured Supplementary Service Data (USSD) transactions will attract VAT, and not the principal/ transferred amount. VAT is currently at 7.5 per cent.

    The key Fintech operators are Opay, Moniepoint, Palmpay, Kuda, among others.

    According to the notice announcing the development, the move is tied to a directive from tax authorities mandating financial institutions to begin VAT collection and remittance on fees charged on transactions.

    In a notice sent to customers on Wednesday afternoon by Moniepoint, informed users of the impending implementation of the VAT regime on certain electronic banking charges.

    According to the notice, the development is tied to a directive from tax authorities mandating financial institutions to begin VAT collection and remittance.

    “We would like to inform you of an upcoming government-endorsed regulatory change regarding Value Added Tax (VAT),” the notice stated.

    It added, “From Monday, 19 January 2026, we are required to collect a 7.5% VAT, to be remitted to the Nigerian Revenue Service (NRS) (formerly known as the Federal Inland Revenue Service).”

    A source within the industry said the other Fintechs will begin announcing the new policy from Thursday, and that Moniepoint only decided to inform its customers first.

    “It’s a policy that every Fintech will announce. It is not particular to Moniepoint. Its industry-wide,” the source said.

    The company disclosed that the tax will apply to “certain banking services,” including “electronic banking charges such as mobile banking fees (transfers), USSD transaction fees and card issuance fee.”

    However, Moniepoint clarified that not all banking-related transactions would attract the tax, noting that “services that do not attract VAT include: interest on deposits and savings.”

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     “Moniepoint is required to collect and remit VAT to the Nigerian Revenue Service (NRS),” the notice read.

    It further explained that the tax authority had issued a clear timeline for compliance across the financial sector.

    “The NRS has communicated a deadline for 19th January 2026 for all financial institutions (commercial banks, microfinance banks and electronic money transfer operators) to start collecting and remitting VAT,” the statement said.

    Moniepoint also emphasised that the VAT would be limited strictly to service charges, stating that “VAT applies only to banking or service fees, not interest.”

    Customers were also informed that the deductions would be clearly itemised, as “VAT charge will appear separately on your transaction reports and statements.”

    The new VAT enforcement is expected to affect millions of Nigerians who rely daily on mobile banking platforms and USSD services for financial transactions.

  • Tinubu felicitates Mahmoud on birthday

    Tinubu felicitates Mahmoud on birthday

    President Bola Tinubu has congratulated Minister of State for FCT, Mariya Mahmoud Bunkure, on her 48th birthday.

    The President lauded her record of service and contributions to governance.

    In a statement yesterday in Abuja by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described Mahmoud as a dedicated public servant, whose career reflects a  commitment to public service and community development.

    Tinubu noted that the minister of state has worked harmoniously with the minister to drive the transformation witnessed in Abuja in two years.

    “Dr. Mariya’s career in public service as a seasoned medical consultant on community health and as a former commissioner for Higher Education in Kano State is a testament to her visionary leadership,” he said.

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    He praised her role in strengthening institutions, advancing educational standards and championing policies that uplift communities.

    The President also highlighted Dr. Mahmoud’s advocacy for women and girls, noting that she has leveraged her position to open doors, inspire confidence and create opportunities for women and girls to thrive.

    He prayed the years ahead will bring her more strength, wisdom, and good health.

    Mahmoud, a medical professional and administrator, currently serves as Minister of State for the FCT, where she has been part of the team overseeing reforms and development initiatives across the capital territory.

  • Court adopts settlement terms

    Court adopts settlement terms

    Capital Gardens Limited, owned by businessman, Kennedy Okonkwo, has apologised to Adewale Oladapo and Oretol Nigeria Limited for false publications and misrepresentations arising from a dispute on Hampton Island Estate in Lekki, Lagos.

    The apology is part of the terms of settlement adopted as a consent judgment by Justice Jumoke Pedro of the Lagos State High Court on January 13, bringing the dispute to a final resolution.

    Counsel to the claimant, S.B Joseph (SAN), informed the court that although an application dated December 3 had been filed, the parties had resolved their differences and agreed that the Terms of Settlement be adopted as final judgment of the court.

    He said the settlement agreement was executed by all parties on January 9.

    Counsel to defendant, Mariam Oyede, confirmed this and aligned with the request it be entered as a consent judgment.

    By terms of the judgment, Capital Gardens admitted that certain statements and publications it previously made against Oladapo and Oretol were false and misleading.

    In compliance with the settlement, the company published an apology in national newspapers on January 2.

    Capital Gardens noted the embarrassment caused Oladapo and Oretol and retracted the misrepresentations.

    Following publication, parties confirmed all outstanding issues had been resolved, paving the way for the adoption of the Terms of Settlement as the judgment of the court.

    The suit, by Capital Gardens, concerned a four-hectare parcel of unreclaimed and submerged land in the 40-hectare Hampton Island Estate.

    The disputed portion was delineated in Survey Plan No. FAI/3454/A01/2024/LA, of February 8, 2024, and prepared by surveyor A. I. Fashina.

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    Court records clarified that contrary to misinformation, Hampton Estate spans 40 hectares and operates under a government-approved layout.

    The litigation affected four hectares, which are submerged and unreclaimed, while the rest was not impacted.

    The disagreement stemmed from a 2020 transaction under which Oretol, as the estate’s developer, agreed to allocate four hectares of land to Capital Gardens Limited upon full reclamation.

    However, delays caused by the COVID-19 pandemic, coupled with inflationary pressures and rising construction costs, significantly increased reclamation costs, rendering the project commercially impracticable.

    Oretol subsequently terminated the agreement, prompting Capital Gardens to institute the suit and make a series of public allegations that later became the subject of the apology and settlement.

    By virtue of the consent judgment, the dispute between Capital Gardens Limited and Oretol Nigeria Limited over the unreclaimed and submerged four hectares in Hampton Island Estate has been fully and finally resolved, with all claims settled and no issues remaining before the court.

  • Police arrest masquerader in Anambra

    Police arrest masquerader in Anambra

    Anambra State Police Command has announced the arrest of a masquerader for causing public nuisance.

    The command’s Police Public Relations Officer (PPRO), Tochukwu Ikenga, announced this yesterday in Awka, the state capital, in a statement, saying the command has started investigation on the issue .

    The masquerader’s behaviour has caused outrage in Awgbu community in Orumba North Local Government Area and other parts of the state.

    In a viral video clip on social media, the masquerader, identified by the residents as Agaba, is said to appear only after 6pm, when ceremonies were over, because of their destructive nature.

    However, during a burial ceremony on Monday, the masquerader showed up suddenly and became violent, attacking a musician on stage who resisted him. He went haywire in the village attacking individuals.

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    It was gathered that some people were injured during the attack and the said “Agba” chased other smaller masqueraders in the community away.

    Since the incident, some people have called on Governor Chukwuma Soludo to ban the masquerader.

    They also want the community to intervene in making sure the masquerader is tamed.

    The PPRO said the command condemned the behaviour of the masquerader, saying it was unacceptable, unlawful, and would not be tolerated.

  • Police deploy patrols, gadgets to secure Third Mainland Bridge

    Police deploy patrols, gadgets to secure Third Mainland Bridge

    To ensure real-time surveillance, detection and prevention of crimes on the Third Mainland Bridge and surroundings, the Lagos State Police Command has deployed marine and ground forces for 24-hour patrols.

    The patrol teams would work with the state-of-the-art control room built and donated to the Police Command by the Federal Ministry of Works.

    Test-running the facilities yesterday, which have been integrated into the state’s security communication architecture, the Commissioner of Police Olohundare Jimoh, said it would aid in real-time prevention and detection of crimes, including traffic-related offences, acts of vandalism underneath or on top of the bridge.

    Jimoh said the deployment of advanced cameras with range upto Victoria Island and parts of the mainland would further enhance safety and security in the state, warning those who might want to jump into the lagoon, and reckless drivers to desist from such acts as they would be caught.

    According to the police boss, the control centre, though the fifth in Lagos, however, has hi-tech equipment that enable integrated policing capable of addressing contemporary security challenges.

    According to him, a network of high-tech cameras have been installed at strategic locations across the state and are being monitored from a central control room by trained officers.

    “The system enables real-time monitoring of public spaces, major roads, transport corridors, and critical infrastructure. Once suspicious activity is detected, information is relayed in real-time to officers on the ground for swift response.

    “We operate a dedicated control group where activities are monitored continuously. Once anything unusual is noticed, whether on the road, in public transport areas, or within sensitive facilities, our teams are alerted instantly to take action,” he said.

    To further enhance operational capacity, Jimoh said the command had taken delivery and deployed two new patrol vehicles, donated by the Lagos State Security Trust Fund (LSSTF).

    “These vehicles are expected to improve response time and mobility during emergencies,” he said, demonstrating how the vehicles, patrol boats and control room work in synergy for seamless operation.

    Jimoh said marine security had received a major boost with the deployment of a fully equipped patrol boat from the Federal Government to secure Lagos waterways, terminals, and waterfront facilities.

    “The boats, supported by police personnel and surveillance technology including drones, will operate round the clock to deter criminal activities on water, ” he said.

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    In addition, the commissioner highlighted the effectiveness of the upgraded radio communication network, which allows officers to respond promptly to distress calls and coordinate operations more efficiently across the state.

    The police boss expressed gratitude to the Minister of Works, Dave Umahi, for donating the control room facility to the command, and for his pledge to provide maintenance support to keep the place functioning.

    He also thanked the Lagos State government, especially Governor Babajide Sanwo-Olu and Executive Secretary (ES), LSSTF, Dr. Ayodele Ogunsan, for their continued support in providing critical security infrastructure, which has placed the state at the forefront of internal security preparedness in Nigeria.

    “Our capacity to protect life and property has significantly improved.

    These cameras, vehicles, boats, and communication systems represent a major step forward in the security architecture of Lagos State and, by extension, Nigeria,” he said.

    The commissioner assured residents that the command remained committed to professionalism, effective service delivery, and the continuous use of modern technology to make Lagos safer for all.

  • Govt orders resumption of schools in Edo Central Monday

    Govt orders resumption of schools in Edo Central Monday

    Edo State Government has asked public and private schools in Edo Central Senatorial District to resume the Second Term 2025/2026 academic session next Monday.

    Resumption of schools in Edo Central was postponed following last week’s protest in Ekpoma, headquarters of Esan West Local Government Area.

    Several shops were looted and the Palace of the traditional ruler of Ekpoma vandalised.

    Governor Monday Okpebholo and Edo Commissioner of Police, Monday Agbonika, relocated to Ekpoma to tackle the security situation.

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    A total of 52 suspects were arrested and remanded, including students of the Ambrose Alli University (AUU), Ekpoma.

    Commissioner for Education, Dr. Paddy Iyamu, in a statement, directed private and public schools to resume for the Second Term of the 2025/2026 academic session on Monday, January 19, 2026.

    “Parents, guardians, and school authorities are advised to take note of this development and ensure full compliance to enable a smooth and effective commencement of academic activities.

    “The ministry appreciates the patience, cooperation, and understanding of all stakeholders as we continue to take steps aimed at improving the welfare and learning environment of our children,” he added.