The Nation Newspaper

Category: Editorial

  • Cold comfort

    Cold comfort

    • Bank frauds plumbed by 2025. But in absolute terms, the numbers are still too high

    Between 2020 and 2024, it was a clear epidemic on the banking front. The numbers were not only dire, but were rising by the year, according to these numbers, tracked by the Nigeria Inter-Bank Settlement System (NIBSS): 2020 (N11.61 billion lost), 2021: N12.7 billion, 2022: N14.32 billion, 2023: N17.67 billion, 2024: N52.26 billion!

    After this crescendo of 2024, it is somewhat worth celebrating that the 2025 figures show a 51% drop in banking frauds: from N52.26 billion to N25.85 billion. Yes, the figures might have had a tumble. But in absolute terms, they are still too high – far higher than the stolen funds from 2020 to 2023, before the terrible flare of 2024. That makes whatever “celebration” attached to this crash mere cold comfort. With this high level of fraud, the Nigerian banking system is clearly endangered.

    The channels for these humongous thefts are also instructive, according to industry trackers. Digital thefts, for instance, account for a good chunk of the stealing. Mobile and Web apps were responsible for the N13.37 billion loss for 2025 alone.

    Other stealing agents and agencies include collusion by fraud-minded bank staff members that often collude with outside e-raiders. Again, in the first quarter of 2025 alone, no less than 28 bank staff were under investigation for fraud. Then, there are holes in POS – point-of-sale – terminals. Frauds from there too accounted for some 25% of reported cases. 

    Of course, the old, ultra-risky bank heists, with guns-a-blazing, still accounted for a part of the numbers, though digital heists clearly stole the thunder. The period between 2020 and 2023 had its fair share, though of reduced quantum steal. It’s only fair to add, however, that bank robberies in Lagos are almost history, thanks to the robust public-private security framework forged around banking facilities, by the Lagos State Security Trust Fund (LSSTF).

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    It needs no especial acuity, therefore, to figure that transition from traditional banking to the epoch of financial technologies (Fintech), which now dominates the industry, has come with its own hazards. If bank heists are gradually yielding to ruthless digital raids, one thing is clear: doughty digital shields around bank accounts are not developing as fast as fintech is evolving.

    For instance, the NIBSS explained the slump in the figures for 2025 to the government policy of grafting the Bank Verification Number (BVN) to the National Identification Number (NIN) of every bank customer. There are even progressive calls to link both BVN and NIN to every voter card. If that happens, a separate voter card might even become a spare, so long as the prospective voter has a bank account that also captures his NIN. 

    Still, as it stands, some smart Alec bank staff, with cybercriminals, still clone accounts of elderly citizens, via phishing and allied hacking. To drastically reduce such spoofing is the challenge now facing the banking sector. But the battle is winnable. If LSSTF could roll back banking robberies in Lagos, a concerted industry approach can also roll back cybercrimes in banks. At that threshold, however, it morphs from being a tiny banking challenge to a grave cross-sectorial security problem to be tackled.

    Fortunately, Nigeria – with her brood of techies – has a good track record of fintechs. Doing a SWOT analysis, the strengths and opportunities are obvious, from the success of Nigerian-made fintechs and payment systems today. But now, we must tap into same expertise to tackle fintech weaknesses and threats. 

    Only such a pan-industry approach could save the banking system from humongous cyber-stealing.

  • Stay the course

    Stay the course

    • The govt is right on free meters; this should have been the duty of the DisCos ab initio

    Nigerians who are conversant with the operations in the country’s power sector, particularly as they affect the electricity distribution companies (FisCos) would have seen their cold reaction coming, when the Minister of Power, Adebayo Adelabu, announced last week that prepaid meters must be free for all categories of customers.

    Adelabu said neither the DisCos nor the meter installers had any right to collect a dime for the installation of the meters and that anyone caught extorting power consumers would be prosecuted.

    The minister issued the warning on Thursday during an on-site inspection of newly imported smart meters at APM Terminals, Apapa, Lagos.

    Adelabu said the meters were procured under the World Bank–funded Distribution Sector Recovery Programme.

    “I want to mention that it is unprecedented that these meters are to be installed and distributed to consumers free of charge—free of charge! Nobody should collect money from any consumer. It is an illegality.

    “It is an offence for the officials of distribution companies across Nigeria to request a dime before installation; even the indirect installers cannot ask consumers for a dime. It has to be installed free of charge so that billings and collections will improve for the sector,” Adelabu said.

    Ideally, the minister is right. It is not the duty of electricity consumers to buy cable or any item before their meters could be installed. As a matter of fact, this would appear to be a post-privatisation practice. It was not like that in the past. Unfortunately, all this changed with the warped privatisation of the sector in November 2013.

    The exercise was not thorough as it only gave the entities out to cronies of the government of the day, with neither the financial muscle nor the technical acumen.

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    The effect soon became glaring. From day one they had to rely on government crutches to function. Despite their being private entities, the Federal Government continued to pump billions into their operations.

    That is the way things have been such that today, the entities, particularly the DisCos, can hardly stand on their own. The support or assistance that they have been getting from successive governments has given them the sense of entitlement to things they ordinarily should have shown evidence of their capacity to handle if the privatisation had been better handled.

    We are here talking about meters.

    At the time of privatisation, the metering gap was about eight million consumers. Today, it stands at about five million. And this is despite efforts by the Federal Government to help ease the burden, including the ongoing Meter Asset Provider (MAP) scheme.

    Part of the reason we still have this huge number of electricity consumers unmetered is because the DisCos are not too keen on having them metered. They prefer the anachronistic estimated billing which allows them to extort consumers by making them pay for power that they did not consume.

    Now that the DisCos are, at least going by a report in ‘The Punch’, are asking who bears the cost of installation of the meters, it simply tells us the extent they have been used to being pampered by the government.

    Meters are important tools that the DisCos ought to have brought to the table ab initio if they truly wanted to earn their revenue. They were supposed not just to bring the meters but also install them, free of charge.

    Now, they are saying installation of meters was taken from them when Mr Babatunde Fashola was Minister of Power. Of course, Fashola must have done that for a good reason, apparently because he noticed the lack of enthusiasm on the part of the DisCos to have their customers metered.

    If a government is now saying they should do their job as appropriate, the DisCos should not complain. Players of note should not be debating a matter like this. Indeed, we cannot understand this business model of a producer not able to collect its revenue. Such a producer cannot be said to be in business. If the DisCos must invest a little more to get their deserved income, why not?

    The government is on the right path. It should stay the course. Indeed, there should be timelines and sanctions for non-compliance with government directives on this matter. If the power minister has to engage the DisCos to see if they have any genuine reason as to why they cannot cope, that should be done.

    Meanwhile, what has happened to local production of meters? We are not helping our economy if we import the quantum of meters that we need. The Federal Government must do all it takes to get the local meter producers in business.

    On the matter at hand, both the DisCos and the government must be challenged. The fight at hand is a strategy battle that we must win once and for all. The DisCos should not continue to keep all of us down with threats and cheap blackmail.

  • Eternal vigilance, please

    Eternal vigilance, please

    •Interception of incendiaries in Ibadan is wake-up call to communal alertness

    Police operatives in Oyo State, early this week, said they intercepted a truck conveying materials suspected to be explosives in the Sango area of Ibadan.

    Spokesman of the Oyo State Police Command, Ayanlade Olayinka, a Deputy Superintendent of Police (DSP), said in a statement that the truck was intercepted during a stop-and-search operation following an intelligence tip-off. The search, he explained, yielded 42 suspected explosive materials that were seized and the truck driver taken into custody.

    According to the police public relations officer, the state police commissioner, Femi Haruna, has ordered a comprehensive investigation into the matter. The CP directed that specialised personnel from the Explosive Ordnance Disposal (EOD) unit and the Chemical, Biological, Radiological and Nuclear (CBRN) unit of the police be deployed to secure the items and conduct forensic examination.

    Olayinka said detailed forensic analysis was ongoing to determine the exact nature of the materials and their intended use. He assured the public that there was no cause for panic, adding that further updates would be provided as investigation progresses.

    It is commendable that the police were able to intercept the suspected materials, especially as it is yet unclear where the materials originated from and where they were headed. Still, that the truck driver got his hazardous cargo as far as Sango area indicates he succeeded in hauling the items over a long distance within the metropolis without security alarm.

    It can’t be foreclosed that the suspected explosives might be meant for business-related operations like quarrying, and not necessarily intended for terrorism purposes like bomb-making. But materials of this kind ideally ought to be licensed, and their conveyance subject to strict safety protocols. Such items, ideally, should be accompanied with authentic end-user certificates and government-approved prescriptions for handling and storage. Surreptitious conveyance, by itself, raises a red flag and hints at dubious motives for acquisition and intended deployment.

    The January 16, 2024, deadly blast in Bodija neighbourhood of the Oyo State capital is still too fresh in memory. That blast, which was reported to have originated from a building located on Aderinola Street in the highbrow estate, claimed five lives and left nearly 80 others injured and scores of houses, vehicles as well as other items of property wrecked. Few days after the explosion, Oyo State Governor Seyi Makinde confirmed findings that the blast was caused by explosives stored in a residential apartment by illegal miners.

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    Two years on, it is doubtful that outstanding material compensation is fully paid by the state government. And that is not mentioning the irreparable loss through fatalities of the incident and lingering medical challenges of survivors such as post-traumatic stress issues.       

    Bodija is an elitist neighbourhood of Ibadan with prevalent inclination among residents to privacy. That, perhaps, was why no alarm was triggered over explosive materials being stored in one of the residential apartments. But when the January 2024 blast occurred, it shattered the serenity of the neighbourhood and disoriented most residents.

    According to reports, the casualties were either first responders to a fire outbreak caused by an electrical surge that first hit the building where explosives were stored, or passersby too close to the site. Such is the evil that mishandled explosive materials can do, even when not deployed to terrorism usage.

    Security is a communal task, not the exclusive preserve of security operatives. It is important that every member of society stays alert, and ‘when you see something, say something’ as they admonish. After all, an age-old maxim instructs that eternal vigilance is the price of liberty.

    We hope that the report of interception of suspected explosive materials in Ibadan will not just be a hype, but that police authorities will follow through and soonest update the public on their findings. Meanwhile, public education on collectivity of security alertness must intensify until Nigeria becomes communally policed.

  • Condemnable negligence

    Condemnable negligence

    •Medical authorities in the country must be more alert to stem avoidable deaths

    Ideally, there must be no room for medical errors of omission and commission, particularly because they could prove fatal. Some recent cases of alleged medical negligence that sparked public outrage in the country have further highlighted the issue.

    One of them was the death of Nkanu, the 21-month-old son of novelist Chimamanda Ngozi Adichie, at a private hospital in Lagos. The family alleged that excessive sedation led to the child suffering a fatal cardiac arrest.

    Adichie alleged that the anesthesiologist “was criminally negligent… fatally casual and careless with the precious life of a child. No proper protocol was followed.” She added that the family “have now heard about two previous cases of this same anesthesiologist overdosing on children.”

    The hospital, while extending its “deepest sympathies,” denied any wrongdoing and maintained that its treatment met international standards. Consequently, the Lagos State Government has ordered an investigation into the death.

    Another case that triggered an uproar just days later was the death of Aisha Umar, a mother of five, in Kano. The medical team that performed surgery on her has been accused of leaving a pair of scissors in her abdomen after the operation, which ultimately led to her death on January 13.

    Her husband, Abubakar Binji, said she had undergone surgery at a public hospital, the Abubakar Imam Urology Hospital in Kano, on September 16, 2025, “to remove a cyst from her left kidney.”

    According to Binji, following her death, he had called the doctor who led the surgery to inform him. His words: “He said it was unfortunate and promised to come, but no one showed up until the issue went viral on social media. Then, the team arrived in several vehicles to console us, saying it happened as God willed.”

    In the medical world, the mantra is ‘We care, God heals.’  However, relying on fatalism as a defence in a case of condemnable negligence amounts to denying responsibility.

    Binji said after his late wife was discharged post-surgery, she had “frequently complained of abdominal pain, saying she felt as though something was still inside her.” At some point, “she couldn’t sleep,” he recalled.

    It was at the Aminu Kano Teaching Hospital that the cause of her pain was finally detected through x-ray: a pair of scissors was inside her abdomen.   It was concluded that the foreign object had been left in her body by the surgical team that performed her initial procedure.

    Her husband said she was prepared for emergency surgery “but tragically, she died during the preliminary stages of the operation.”

    Why did the staff of the Abubakar Imam Urology Hospital allegedly ignore the patient’s complaints of severe abdominal pain for four months, reportedly only prescribing painkillers instead of performing diagnostic scans?

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    The Kano State Hospitals Management Board has since “suspended three personnel directly involved in the case from clinical activities with immediate effect,” and launched a formal investigation, acknowledging that the incident was a result of professional negligence rather than “fate.”

    Importantly, medical negligence is actionable; victims or their families can seek redress both in court and through relevant regulatory bodies.

    The World Health Organization (WHO) notes that at least 50 percent of all patient harm is preventable. The global health body’s list of medical errors leading to severe and sometimes fatal consequences includes medication errors, unsafe surgeries, health care-associated infections, and diagnostic errors.

    Others include patient falls, blood clots, pressure ulcers, unsafe blood transfusions, patient misidentification, and unsafe injection practices.

    WHO links these to systemic failures, including poor staffing, inadequate processes, communication breakdowns, lack of patient engagement, faulty technology, and weak policy environments.

    Health authorities must ensure severe sanctions are meted out to those whose negligence causes fatalities. Such accountability is essential to restoring public confidence in the country’s healthcare system.

    Furthermore, a holistic approach—focusing on infrastructure, staffing, and clinical oversight—is essential to strengthening the health system nationwide.

  • Steady progress

    Steady progress

    • •Nigeria’s removal from EU “grey list” is a positive development and we should do our utmost to remain out of it

    In February 2023, Nigeria was placed on the “grey list” of the Financial Action Task Force (FATF), portending serious negative consequences for her economy, as a result of perceived fundamental failings in the country’s Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) systems.

    The requisite international financial regulatory agencies had issues, among others, with Nigeria’s supervision of non-financial businesses, lack of effective implementation of controls for beneficial ownership transparency, and enforcement of regulations against terrorism financing and money laundering, as well as concerns about the National Financial Intelligence Unit’s (NFIU) capacity to analyse and share financial intelligence effectively.

    However, the removal of Nigeria from the FATF “grey list” in October 2025 indicated that the country had made commendable progress in implementing far-reaching reforms, introducing new AML/CFT laws, creating a credible public register for beneficial owners and improving the working relationships among her financial intelligence and law enforcement agencies.

    That Nigeria continued to make remarkable progress in this regard was reinforced by the European Union’s (EU) official removal of the country from its list of high -risk third countries under the EU Anti-Money Laundering and Countering the Financing of Terrorism (ACM/CFT) framework.

    According to the NFIU, the removal contained in the European Commission Delegated Regulation (EUDC (2025) 8460, was adopted on December 4, 2025, but will take effect from January 29, 2026.

    All of these are indicative of an enhanced perceived integrity, credibility and reliability of Nigeria’s internal financial architecture among critical actors in the global financial ecosystem. This will in turn have salutary implications for ongoing reforms, with brighter possibilities of improved economic performance.

    The NFIU is right in attributing the steady progress made in rescuing financial structures and systems from external ignominy to the persistence and steadfastness of the President Bola Tinubu administration in pursuing the implementation of economic reforms, the prioritisation of financial system integrity, inter-agency coordination and compliance with international standards.

    Most pertinently, the NFIU’s Chief Executive Officer, Hafsat Abubakar Bakari, stressed that “The achievement is also the result of sustained collaboration among key stakeholders, including the National Assembly, law enforcement agencies, regulators, supervisors, the judiciary, the private sector and development partners”.

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    It is of course self-evident that to sustain and improve on current laudable attainments as regards the transparency, efficacy and trustworthiness of our financial systems and processes, this multi-agency cooperation and collaboration must continue to be deepened.

    With her removal from the EU high-risk list, financial transactions between Nigeria and the EU will become considerably smoother and less burdensome, cross – border financial flows will be more efficient and due diligence requirements in financial transactions between the two entities will be less demanding. This will most likely rub off positively on Nigeria’s economic and financial interactions with other global economic actors.

    As the NFIU CEO aptly put it, “Beyond the immediate economic benefits, this outcome strengthens international confidence in Nigeria’s financial system and underscores our standing as a cooperative and responsible participant in the global financial architecture”.

    This implies that all appropriate financial, legal, trade, law enforcement and other authorities must be alert and proactive to continue to improve on standards in their performances. As Hafsat Bakari rightly asserted, “While we welcome this progress, it also places a clear responsibility on all stakeholders to sustain momentum, guard against complacency and continue strengthening our systems in response to evolving financial crime risks”.

  • A good man departs

    A good man departs

    • •Imam Abdullahi who saved 262 Christians in Plateau during an attack by bandits left a good legacy for others to emulate

    One great Nigerian hero, Imam Abubakar Abdullahi, a popular Islamic cleric from Nghar Village in Plateau State has died at the age of 90. In a state in Nigeria that has seemingly become a metaphor for socio-religious conflicts in the last two decades, Imam Abdullahi had in the words of Shakespeare, had ‘achieved greatness’ through his brave action in June 2018.

    With incessant indigenes/settlers, herders/farmers, Christian/Muslim conflicts that have defined lives in the North Central and North Western areas of Nigeria, the cleric had risked all, including his life and the lives of his family, by hiding about 262 Christians during an attack by suspected Fulani herdsmen.

    He had creatively hidden the women and children in his personal house and the men in the mosque. He stood up to the attackers claiming that everyone of those he had hidden was a Muslim, thus saving their lives.

    This singular act was celebrated nationally and internationally as it resonated across the world. Imam Abdullahi became a global icon of peace and one whose action showed truly that religion, especially as the Muslims claim, preaches peace, love and charity. His action showed leadership in its purest form.

    In a country with deep ethnic/religious divisions that are often described as tilting towards Christian genocide, his action was a double-edged sword. It was an admirable act of courage but the fact that the hidden Christians were left unharmed by the alleged marauding Fulani herdsmen after being told they were all Muslims should be a product of thorough investigations and research to help the country.

    The series of seemingly intractable conflicts of different hues, especially in the Northern part of the country, has steadily morphed into a variety of social ills like kidnappings, banditry, farmers/herders clashes, insurgency, etc. Politicians, as leaders must take a cue from the late Imam whose heart was with the people. He showed heroism risking his life and the lives of his relations.

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    In a world beset by conflicts of different hues often instigated or sustained by interests of leaders at various levels, the Imam’s example shows what is possible when a leader loves humanity. With political, socio-religious and economic conflicts across the world on the rise, his global appeal should be seen as a pointer to what is possible when a leader is willing to show humanity not tainted by religious/ethnic sentiments.

    Imam Abdullahi was not only honoured in Nigeria with a national honour but internationally as well. The United States Department of State’s International Religious Freedom Award was given to him in 2019. He had an all-expenses paid trip to travel to receive his award. He was already in his ‘80s at the time. This ought to be a lesson about how seemingly ‘little acts of kindness’ can have global appeal. There is no age limit to the human capacity to show kindness and make an impact in the world.

    It is important to note that the Imam did not gain fame just by being an Imam in his community. He extended his leadership to other humans when he had the capacity to. He did not invite the media to show how magnanimous he was. It was the stories of his beneficiaries that shot him to global acclaim. What lessons can politicians learn from this?

    His life reminds us of two Nobel Peace Prize winners, late Mother Theresa of Calcutta who even though a native Albanian gained global admiration for her acts of kindness in Calcutta, India, where she spent her life as a Catholic nun, touching lives of Hindus, Christians, Muslims and other faiths. Her life became a symbol of kindness not that of her vocation, even if her vocation inspired her actions. The late Bishop Desmond Tutu of South Africa was also known for his humanity beyond his evangelical duties.

    We are however curious that not many lessons have been learnt by many Nigerians who know and applauded the actions of the late Imam. There is still ethnic and religious bigotry being displayed not just in the Plateau but across the country.

    Sadly, the political elite appear complicit as they are usually the ones fanning the embers of hatred for mere political expediency. The Imam ought to be an example not just to political leaders but to other religious and traditional rulers whose main duty ought to be the fostering of unity and love amongst Nigerians, irrespective of their faith and ethnicity.

    The political, religious and traditional leaders must question the value they add to their communities with their actions and inactions. The late Imam boldly preached with decisive human act of kindness and that has immortalised him. He lived a long and fulfilled life and his legacy stands in his memory.

    That, to us is the greatest asset of any human. May he find the peace he preached even at the risk of his own life and beyond the religious podium. That is what is called a purposeful life.

  • The Diezani trial

    The Diezani trial

    •That the duration of the trial is known even before it starts is something our judiciary ought to learn from

     Today, hopefully, the trial of Nigeria’s former Minister of Petroleum Resources, Diezani Alison-Madueke, for alleged acts of corruption during her tenure in office between 2010 and 2015, will begin in London. During her appearance last week before a Southwark Crown Court in London for the preliminary hearing, which deliberated on technical matters and the issue of jury selection before the full process, it was specified that the trial would last from 10 to 12 weeks.

    This is indeed a major interesting feature of the case whereby the duration of the legal process, which will not exceed three months, is known beforehand. This contrasts with the situation in Nigeria where a cumbersome judicial system permits cases to drag interminably for years. The British system obviously does not allow lawyers to utilise technicalities to prolong cases unduly while indulgent judges feign helplessness.

    The Diezani trial also raises the pertinent and recurrent point that allegations of wrongdoing in public office, including suspected corrupt enrichment, have no gender bias. Female occupants of offices of trust in the public or private sectors are as open to alleged corrupt entrapment as their male counterparts.

    Among the indictments against Alison-Madueke are that she received at least £100,000 ($134,000) in cash, flights on private jets, payment for chauffeur-driven cars and use of multiple properties in London while in office in Nigeria.

    Along with two other accomplices, Doye Agama and Olatimbo Ayinde, she also faces charges of illicitly receiving rewards such as furniture; renovation work, members of the staff for maintenance of properties, gifts from designer shops and payment of private school fees, contrary to her oath of office as public officer in Nigeria.

    A court in Nigeria had earlier ordered the forfeiture to the Federal Government of properties allegedly linked to Diezani but which no one had come forward to claim after advertisements in the media within legally specified time-frames.

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    Can’t the British authorities be accused of crying more than the bereaved when they appear more determined to bring errant Nigerian public officers to book under their laws for the latter’s infractions in Nigeria, when we tend to treat such cases with kid gloves here? That would be a most unfair conclusion. For one, rampant corruption in countries like Nigeria compounds the problems of underdevelopment and poverty that fuel the mass migration to advanced countries that has become a major social problem in those societies.

    Again, illicit financial flows through corruption and other crimes help fund terrorists, dangerous drugs and human trafficking networks that constitute a threat to multiple countries across the globe, irrespective of where the original crime was committed. Furthermore, the accommodation of ill- acquired funds in the financial systems of recipient countries corrupts, weakens and undermines the integrity of their systems and processes with negative security implications.

    First arrested in London in October 2015, Diezani had been on bail until she was formally charged in 2023 by the United Kingdom’s National Crime Agency (NCA) for accepting bribes between 2011 and 2015. Some legal experts have attributed the long delay between her first apprehension and formal charge to the protracted nature of the investigations spanning the UK, USA and Nigeria, as well as the desire to build a watertight case before commencement of trial.

    The thorough investigative process is certainly a key factor in the speedy completion of cases after opening of trial in jurisdictions like the UK, and this is something anti-corruption and judicial authorities in Nigeria can learn from and emulate.

    Since the Administration of Criminal Justice Act (ACJA) is evidently not facilitating greater efficiency, effectiveness and promptness in justice delivery in Nigeria, it is imperative that the relevant laws be further amended to make it more difficult for allegedly corrupt persons facing trial in Nigeria to complicate and extend their trials almost indefinitely.

  • Reward of persistence

    Reward of persistence

    ‘Kanmo-Kanmo’s’ arrest by NDLEA 12 years after he murdered three of its officers shows criminals cannot escape forever if security agencies are determined to catch them

    For the National Drug Law Enforcement Agency (NDLEA), the arrest of a long-wanted drug kingpin, Lekan Jimoh, popularly known as “Kanmo-Kanmo”, on January 16, at his hideout in Owode, Ogun State, following credible intelligence, marked another significant achievement in the annals of the anti-drug agency.  The NDLEA has been hunting for Jimoh for about 12 years, over the brutal killing of three NDLEA officers.

    NDLEA’s Director of Media and Advocacy, Femi Babafemi, said in a statement that “Kanmo-Kanmo’, who is notorious for drug trafficking, had been evading arrests.”

    And, rather than submit himself to the security agencies after the alleged murder of the three personnel, he had been mobilising armed thugs against security agents that were on his trail.

    “He was tracked to his hideout in Owode town, Ogun State, by tactical teams of the agency, following credible intelligence. During the clinical operation, the suspect was found in possession of 69 kilograms of skunk, a strain of cannabis.’’

    As Babafemi noted, “The arrest marks a significant breakthrough in the agency’s commitment to ensuring that no fugitive, regardless of how long they evade justice, remains beyond the reach of the law.”

    It shows that no matter how long it takes, the long arm of the law is never too short to catch up with any criminal. The important thing is for the government agency responsible for the manhunt to show the political will and the resilience to arrest the criminal or suspect. This was what happened in the ‘Kanmo-Kanmo’ matter.

    We commend the NDLEA for Jimoh’s arrest.

    Although he remains a suspect because he has not been convicted by any court of law; but then, he has not helped his cause. If he had no skeleton in his cupboard, why has he been hiding these past 12 years? He would have to explain this when he is eventually arraigned in court.

    As it is with any other law enforcement agency, it is an offence to obstruct their personnel from performing their duties. It is even more serious when such officers are murdered in the line of duty; the perpetrators are supposed to be arrested and prosecuted. But it is not all the time that the agencies do this, thereby giving the suspects more opportunities to commit more crimes.

    So, now that ‘Kanmo-Kanmo’ has been arrested, we expect that he would be prosecuted so that he would be served his due comeuppance, if eventually convicted.

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    NDLEA plays a crucial role in the country, especially in combating drug crime, seizing narcotics, arresting traffickers, and disrupting drug networks, to protect the public from substance abuse. This is especially so with the high rate of banditry and terrorism in the country. There is no doubt that the agency has been performing these functions well, particularly since the assumption of office of General Buba Marwa as its chairman and chief executive officer in January, 2021.

    Many record-breaking seizures have been recorded since then. Indeed, the NDLEA boss has proved with his successes at the agency that his achievements as Military Administrator of Lagos State were not a fluke. Under Marwa’s watch, the agency had arrested no fewer than 77,792 drug offenders, including 128 drug barons, and seized about 14,847,000 kilograms of assorted illicit drugs.

    These achievements, no doubt, were the result of his reforms at the NDLEA and they have significantly disrupted both local and transnational drug supply chains. 

    Drug Czars are rich and they could bribe their way through any system. That Marwa has so far not fallen to their temptation is something to celebrate in him and his officers.

    If other security agencies could follow this path of pursuing whoever kills their men on duty without relenting until such persons are caught and brought to book, the country would be better for all. This should be the lesson from the NDLEA’s 12-year manhunt for ‘Kanmo-Kanmo’. They never relented until he was arrested. 

  • A model partnership

    A model partnership

    • Seplat, NGIC deserve applause for seeing the ANOH Project through

    Last week, newspapers reported a major development at Seplat Energy Plc’s 300 mmscfd (million standard cubic feet per day) Assa North-Ohaji South (ANOH) processing facility: the crossing of that critical milestone when natural gas is first introduced into processing equipment and pipelines, marking the start of production (first gas).

    Seplat had in a statement on January 16 said that the facility has since commenced gas supply to Indorama, under “firm and interruptible” offtake Gas Sales Agreements (GSAs).

    “Since first gas, wet gas production has been stabilising, delivering 40-52 MMscfd of processed gas directly from the ANOH gas plant to the Indorama Petrochemical Plant. Condensate production has reached 2.0-2.5 kboepd and is expected to increase with gas production as the plant ramps up to design capacity”, the firm further stated.

    Also, preparations, it said, are under way “to initiate sales of processed gas to the Nigeria LNG (NLNG) with an offtake agreement structured on an interruptible basis and will support the gas plant to further scale production towards full design capacity of 300MMscfd.”

    Of particular interest is that the ANOH Gas Processing Company (AGPC) is a joint venture between the Nigerian Gas Infrastructure Company (NGIC) – a subsidiary of the NNPC Limited and Seplat Energy. Its coming on stream reportedly followed the completion of the 11km Indorama gas export pipeline and receipt of regulatory approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

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    Seplat will further note on its website – ‘the  integrated plant consists of two 150 MMscfd gas processing units, Liquefied Petroleum Gas (LPG) recovery units, condensate stabilisation units, a 16MW power plant and other supporting facilities, and has been built to operate with zero routine flares’.

    The ANOH project, according to Seplat’s chief executive, Roger Brown, would be the first of the seven critical gas development projects identified by the Federal Government to commence operations.

    We commend the company and its partners for seeing the project through to completion. Noteworthy is the company’s goal which, in the words of its chief executive Roger Brown, is ‘to increase energy access for Nigerians in terms of both power and clean cooking fuel for the local communities, while advancing delivery of the company’s mission to support economic prosperity in Nigeria’.

    What makes the development doubly exciting is that this is coming at a time of sustained growth in the gas sector over the past three years, with daily average production hitting 7.59 BSCFD in July 2025 as against the 6.99 BSCFD recorded in 2024 and 6.91 BSCFD posted in the full year of 2023; conversely, there has been a marked reduction in gas flaring from 7.38% in 2023 to 7.55% in 2024 and 7.16% as of July 2025.

    The immediate implication is that the nation’s aspirations in domestic gas utilisation are not only firmly on course, but are being pushed with renewed fervour just as the operators’ eyes are firmly set on the zero flare target.

    We urge the Federal Government and the NNPCL to stay the course. The immediate task here is to push the remaining six projects already identified as critical with the same zeal to ensure their completion.

    The bigger task however remains that of optimising the country’s vast gas potential. Presently, Nigeria is known to hold Africa’s largest natural gas reserves – some 210 trillion cubic feet (Tcf) of proven reserves; yet much of these lie untapped ((some estimates put it at over 200 Tcf) – a mere tip of the iceberg. 

    It is time the NNPCL in particular paid greater attention to growing the sector steadily and progressively through sustained and sustainable partnerships both in the upstream and the downstream gas sectors.

    Now that the AGPC partnership has demonstrated its immense possibilities, the national oil company will certainly do well to explore further collaborations with tested players in the sector to deliver value to Nigerians.

  • Inexplicably wide

    Inexplicably wide

    • We are talking about low interest rates on savings and high bank charges on loans

    The Nigerian economy has turned around for the better, with the headline inflation moving from 26.7% in January, 2025, to 15.2% in December, 2025. The national economy which grew at 3.8% year-on-year in 2025, is projected to grow at 4.1% in 2026.

    But amidst these positive outlooks, banks’ interest rate on savings remains low at 2.7%, while charges for loans are as high as 60% for some sectors of the economy.

    A report released by the Central Bank of Nigeria, in furtherance of its transparency and full disclosure stance, shows that manufacturing, mining and quarrying, public utilities, finance and insurance and construction pay as high as 60% for loans, while oil and gas pay about 46%.

    The capital market loans stand at 19.5%, and power and energy at 48% per annum. At the lower rung, education loan stands at 23%, government loans at 19%, and real estate loans at 46.5%.

    For general commerce, borrowing stands at 45%, water supply, sewage, waste management and remediation activities borrow at 36%, while information and communication stands at 30%.

    So, except for government loans, capital markets and education loans, borrowing for the other sectors are on the high side. We worry about the impact of high borrowing interest rates on the various sectors of the economy.

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    In a globalised economy, Nigeria’s cost of production must be comparatively favourable, otherwise the country will be outsourcing jobs to foreign manufacturers.

    In China, which is a major source of imported goods into Nigeria, the average cost of borrowing is between 3-4%. In Thailand, the rate hovered around 6.7% in 2025, while it ranged between 5.4% to 8% in Vietnam, in the same period. In the countries mentioned, the driving force for the low interest rates is the monetary and fiscal policies of the countries.

    So, what could be responsible for the high lending rate in Nigeria?

    Nigeria needs to find answers to what makes lending rates high, if it is to compete in a globalised economy. We believe that an enhanced interest on savings, which stood at about 2.7% in the last year, would help. After all, the banks are custodians of saved funds, which they in turn loan to customers.

    So, if the interest on savings are abysmally low, then customers would not save, and the banks would find it difficult to aggregate the funds to loan to those who need them.

    The other major challenge faced by banks are the harsh operating environment. Banks in the urban and rural areas rely mostly on privately-sourced electricity and security, at huge costs, to function effectively.

    There is also poor credit record in the country, which makes risk management very difficult. That challenge is compounded by lack of a national data base, which allows borrowers to abuse their credit history to the detriment of the banks. Nigeria needs a strong credit bureau to stop such abuses.

    There are corrupt practices afflicting the borrowing culture. While many borrowers use borrowed funds for activities which are different from what the funds are loaned for; corrupt credit risk managers take cuts from the funds loaned to customers.

    There are also insider dealings, where company owners are also directors of banks. Such underlining corrupt practices are usually responsible for most failed banks. We urge for strong oversight policies to stem such insider dealings, and serious punishments for those who get involved.

    To reduce the high cost of borrowing for the real sector, the Federal Government and its monetary and fiscal policy authorities must find answers to these challenges.

    What baffles the ordinary Nigerian is how banks declare humongous profits, pay incredible benefits to their management staff, and yet claim that the operating environment is too harsh to make lending rates reasonable.