All Posts in "Month: April 2026"

Former Jigawa APC governorship aspirant Nakudu resigns from party

A former gubernatorial aspirant of the All Progressives Congress (APC) in Jigawa State, Senator Sabo Mohammed Nakudu, has resigned his membership of the ruling party.

Nakudu, who contested the APC governorship ticket ahead of the 2023 general election, announced his exit from the party in a resignation letter addressed to party officials in Sundimina Ward, Birnin Kudu Local Government Area.

In the letter, the senator said his decision followed careful consideration, noting that he was grateful to the party for the opportunities it afforded him during his time as a member.

He also acknowledged the support he received from party stakeholders and supporters throughout his political journey in the APC.

According to him, the resignation takes immediate effect from Friday, April 3, 2026, and includes his withdrawal from all party activities.

Nakudu served in the Federal House of Representatives for two tenures (2007–2011) and (2011–2015) under the Peoples Democratic Party (PDP).
He also served as a Senator of the Federal Republic of Nigeria between 2015 and 2019 under the platform of the All Progressives Congress (APC).

Although he did not indicate his next move, findings revealed that he is joining the African Democratic Congress (ADC) and is expected to announce his membership soon.

admin by — April 4, 2026 in News 0
Insecurity: Sokoto Senator, Lamido quits APC

The senator representing Sokoto East Senatorial District, Ibrahim Lamido, has declared his intention to leave the ruling All Progressives Congress (APC), attributing the move to the worsening security crisis affecting his constituency.

Lamido disclosed this while speaking with journalists in Sokoto on Friday, expressing deep concern over the continued banditry attacks that had plagued several communities in the district.

According to the lawmaker, the persistent violence and insecurity in Sokoto East had made it difficult for him to remain in the party, noting that the realities faced by residents no longer aligned with the expectations and assurances given to them.

He described the security situation in the area as alarming, explaining that many villages had been attacked by armed groups, forcing residents to abandon their homes and seek safety elsewhere.

Lamido added that the ongoing attacks had severely disrupted economic activities, particularly farming, which serves as the main source of livelihood for many families in the region.

“My people are enduring untold hardship. Bandits have destroyed entire communities, and I cannot remain in a system that has failed to demonstrate sufficient commitment to resolving this crisis,” Lamido stated.

According to the Sokoto senator, “the decision followed extensive consultations with traditional leaders, political stakeholders, and supporters across the senatorial district.”

He explained that the discussions made it clear that many people believed a change in political direction was necessary under the current circumstances.

Lamido also revealed that he had repeatedly drawn attention to the deteriorating security conditions at the federal level but expressed disappointment that his concerns did not receive the level of response required.

He maintained that his decision was guided by the need to stand firmly with his constituents rather than by any personal political ambition.

The senator further urged the federal government to intensify its efforts in tackling banditry across the North-West, warning that continued attacks could worsen the humanitarian challenges already confronting affected communities.

Sokoto East, which includes local government areas such as Sabon Birni, Isa and Rabah, has in recent months recorded frequent attacks linked to banditry, resulting in deaths, kidnappings and massive destruction of property.

admin by — April 4, 2026 in News 0
Court orders forfeiture of assets linked to alleged Ponzi scheme

A Federal High Court sitting in Lafia, Nasarawa State, has ordered the final forfeiture of multiple properties and cash to the Federal Government following an application by the Economic and Financial Crimes Commission (EFCC).

Delivering judgement, Justice M.O. Olajuwon held that the anti-graft agency provided sufficient evidence to establish that the assets were proceeds of unlawful activities allegedly linked to one Theophilus Oloche Ebonyi.

The forfeited assets include a 23-room hotel and event centre, De Thinkers Home and Apartments, located in Nyanya Gwandara; a warehouse and sachet water factory in Koroduma, Karu Local Government Area; two office buildings along Philip Doda Street in the same area; and Theo International Academy Primary School, also in Nyanya Gwandara.

Additionally, the court ordered the forfeiture of N1,005,489.27 found in a First Bank account linked to the respondent.

Justice Olajuwon ruled that the EFCC met the legal threshold under Section 17(1) of the Advance Fee Fraud and Other Fraud Related Offences Act.

“The Commission has placed sufficient materials before the court to prove that the assets are proceeds of unlawful activity,” the judge stated.

He further noted that once the EFCC established reasonable suspicion, the burden shifted to the respondents to justify the legitimacy of the assets.

“The respondents failed to discharge the burden placed on them to show cause why the properties should not be permanently forfeited,” he added.

Earlier, the EFCC, through an affidavit deposed by its investigator, Mary Ebute, told the court that a Keystone Bank account belonging to Theobarth Global Foundation served as the primary channel through which funds were collected from victims.

The Commission alleged that the account was used to operate a Ponzi scheme and launder proceeds through the acquisition of the forfeited assets.

EFCC counsel, Ibrahim Buba, argued that the properties were directly traceable to fraudulent activities, urging the court to grant final forfeiture in favour of the Federal Government.

The court subsequently granted the application, transferring ownership of the assets to the government.

admin by — April 4, 2026 in News 0
Easter: Kwara police deploy massive personnel for adequate security

Kwara State Police Command has deployed massive personnel for extensive security across the state ahead of the Easter celebrations to ensure a peaceful and hitch-free festival.

According to the State Police Public Relations Officer, Adetoun Ejire Adeyemi, in Ilorin on Friday, “personnel have been strategically positioned at churches, event centres, highways, recreational locations, and other public spaces.”

“At the same time, patrol teams and tactical units have been mobilised to maintain security and provide rapid response where necessary,” she added.

The state Commissioner of Police, Adekimi Ojo directed all Area Commanders, Divisional Police Officers, and Heads of Tactical Units to intensify visibility policing, sustain intelligence-led operations, and remain on a high level alert throughout the festive period.

He also instructed them to maintain close coordination with religious leaders within their jurisdictions to ensure effective security coverage during the celebrations and beyond.

The CP further charged officers to conduct themselves with the highest level of professionalism, civility, and respect for fundamental human rights in their interactions with members of the public.

The command urged residents to remain vigilant, security-conscious, and to promptly report any suspicious persons or activities to the nearest police station or through the Command’s Control Room numbers: 07032069501 or 08125275046.

Parents and guardians have also been advised to keep close watch over their children and wards during the festivities.

The command reiterated its commitment to protecting lives and property and called on residents to continue cooperating with the police in maintaining peace and order across the state.

admin by — April 4, 2026 in News 0

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on Government to consolidate and strengthen pipeline security architecture to boost and increase Nigeria’s crude oil production.

The Association observed efforts by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bashir Bayo Ojulari, in boosting crude oil production and strengthening the value chain across upstream, midstream, and downstream operations, over the last one year.

The National President of PETROAN, Dr. Billy Gillis-Harry, described the NNPCL GCEO’s first year in office as “a defining period that has restored confidence in the operations of NNPCL and demonstrated a clear commitment to reform and institutional strengthening.”

Dr. Gillis-Harry noted that the renewed emphasis on transparency and accountability, including the publication of operational and financial reports, represents a major shift towards global best practices, adding that such measures are critical in rebuilding trust among industry stakeholders and investors.

He noted that Ojulari’s one year in office is marked by bold reforms, improved transparency, and renewed operational efficiency in the oil and gas sector.

According to Gillis-Harry; Over the past year, PETROAN has observed significant strides in the management of NNPCL, particularly in the areas of governance, accountability, and commercial discipline. The introduction of structured financial and operational reporting systems has enhanced stakeholder confidence and repositioned the company in line with global best practices.

Billy Harry note with appreciation the renewed focus on revamping Nigeria’s refining capacity through strategic partnerships, alongside ongoing efforts geared towards the start-up and optimal functioning of government-owned refineries.

PETROAN believes that the timely operationalisation of these refineries remains critical to achieving energy security and reducing the nation’s dependence on imported petroleum products.

PETROAN as a key stakeholder in the downstream sector, acknowledges the positive impact of these reforms on product availability and distribution, though we recognize that challenges still exist in pricing stability and supply consistency. We therefore encourage sustained engagement with industry players to ensure that the benefits of these reforms are fully felt at the retail end.

PETROAN further urges the NNPCL leadership to deepen inclusiveness in policy implementation, especially in areas affecting product allocation, logistics, and infrastructure development. Greater collaboration with retail outlet owners will enhance efficiency and promote seamless delivery of petroleum products nationwide.

He stressed that while the progress recorded is commendable, there is a need to sustain the momentum through inclusive policies and stakeholder-driven initiatives that will guarantee long-term stability, efficiency, and growth in Nigeria’s petroleum downstream sector.

To ensure sustainable crude management and value chain growth, he urged immediate commencement of production at the Port Harcourt Refinery and Warri Refinery to enhance local refining capacity and reduce dependence on imports.

The Association further called for improved stakeholder engagement through regular consultations and inclusive decision-making processes across the downstream sector.

“The GCEO should find time to undertake operational visits to the Port Harcourt, Warri, and Kaduna refineries to assess progress firsthand, engage with stakeholders on ground, and reinforce commitment to their timely and sustainable functionality.

5. Improve the volume of crude oil allocated to local refineries to enhance domestic refining capacity, reduce import dependency, and stabilize the supply of petroleum products in the country.

“While applauding the achievements recorded so far, we call for continued commitment to transparency, fairness, and stakeholder participation in critical decisions within the sector, including issues surrounding pipeline security and equitable distribution of opportunities among host communities.

“PETROAN reaffirms its support for reforms that promote sustainability, efficiency, and growth in Nigeria’s petroleum industry. We remain optimistic that under the leadership of Engr. Bashir Bayo Ojulari, NNPCL will continue on the path of transformation for the benefit of all Nigerians.” he added.

admin by — April 4, 2026 in Business 0
Stanbic IBTC Sets Growth Agenda For Key Industries At Inaugural Nigeria Business Summit

Stanbic IBTC, has successfully hosted the 2026 edition of the Nigeria Business Summit from Wednesday, 01 April to Thursday, 02 April 2026, at the Landmark Event Centre, Victoria Island, Lagos.

The two-day summit brought together industry leaders, policymakers, entrepreneurs and stakeholders across multiple sectors to explore sustainable business practices, foster economic growth and unlock global trade opportunities.

With the theme, ‘Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade’, the summit addressed critical issues across key sectors, including agribusiness, renewable energy, trade and Africa–China banking, as well as ICT and telecommunications. Additional sessions covered areas such as family business sustainability, artificial intelligence, employee value banking, insurance, pension and wealth management.

The event featured a keynote address by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who emphasised the urgent need for Nigeria to reposition itself as a leading export-driven economy to achieve sustained growth.

“Our true potential lies in becoming a leading export economy,” Edun stated. “Increased participation in regional and global trade will be critical to diversifying foreign exchange earnings and driving inclusive growth.”

He noted that while Nigeria’s GDP growth has improved to approximately 4 per cent, it remains below the level required to significantly reduce poverty. According to him, the country’s economic strategy is now shifting from stabilisation to growth acceleration, with trade expansion playing a central role.

Edun highlighted ongoing reforms, including improved foreign reserves, rising non-oil revenues and renewed investor confidence, as indicators of a more resilient economy. However, he stressed that enhancing trade competitiveness would require continued investment in infrastructure, logistics and policy coordination. He also highlighted the importance of small and medium-sized enterprises (SMEs), which account for over 90 per cent of businesses, noting that inclusive growth will depend on stronger collaboration between the public and private sectors.

Participants engaged in a rich line-up of activities, including expert presentations, panel discussions and high-level networking opportunities. Highlights of the summit included the Africa Trade Barometer presentation, client testimonial showcases and insightful discussions on the state of the African economy and intra-African trade opportunities.

Breakout sessions on agribusiness, ICT and healthcare, Africa-China banking and Trade as well as renewable energy provided attendees with deeper, practical insights into some of the most critical sectors driving Nigeria’s economic future.

Speaking at the event, Chuma Nwokocha, Chief Executive of Stanbic IBTC Holdings, represented by the organisation’s Chief Finance and Value Management Officer, Kunle Adedeji, emphasised the importance of collaboration and innovation in driving sustainable growth.

“This summit has reinforced the importance of creating platforms where ideas can flourish and businesses can grow sustainably. By working together, we can unlock new opportunities and drive economic advancement across Nigeria and the African continent,” he said.

The summit also spotlighted practical strategies for integrating sustainability into business operations, encouraging organisations to adopt environmentally conscious practices while maintaining profitability and competitiveness.

Remy Osuagwu, Executive Director, Business & Commercial Banking, expressed satisfaction at the level of interest from participants, a critical element for a successful summit.

“From our conversations on energy and healthcare to the deep dives into trade, Africa-China relations, and agribusiness, Day 1 has offered perspectives that were both insightful and practical. I believe we’re all leaving with a stronger understanding of the opportunities emerging across our industries” Remy said.

He acknowledged the level of engagement, questions, contributions and willingness of participants to share experiences; describing this as the real power of the Nigeria Business Summit, and a solid foundation for tomorrow.

The Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, who was represented by Bunmi Dayo-Olagunju, Deputy Chief Executive of Stanbic IBTC Bank, opened Day Two of the Nigeria Business Summit by highlighting the focus of the summit’s SME Day.

Bunmi said, “Today, we build on Day One’s momentum with conversations that are equally critical for the future – from the dynamics of family businesses to the growing influence of artificial intelligence; the evolution of insurance, and the emerging space of electric vehicle banking.”

She further added, “Our goal on Day Two is simple: to explore what’s next. To understand how these developments will shape our businesses and how we can position ourselves ahead of the curve.”

Stanbic IBTC’s inaugural Nigeria Business Summit stands as a testament to the organisation’s commitment to empowering businesses, strengthening key sectors and positioning Nigeria as a competitive player in the global economy.

admin by — April 4, 2026 in Business 0
Fidelity Bank Partners Aircraft Finance Germany To Grow African Aviation Industry

Fidelity Bank Plc, has announced the signing of a strategic partnership agreement with Aircraft Finance Germany (AFG) to advance the aviation sector in Nigeria and across Africa by both organisations.

The agreement was formally executed by Mr. Christian Hatje, Managing Director, Business Aviation and SVP Commercial, representing AFG; and Mr. Stanley Amuchie, Executive Director and Chief Operations and Information Officer of Fidelity Bank Plc at a signing ceremony in Germany recently.

Speaking at the signing ceremony, Mr. Christian Hatje stated, “This partnership marks a significant milestone in our commitment to Africa’s aviation future. Partnering with Fidelity Bank, Nigeria’s leading aviation financier, we are confident in our ability to structure solutions that will drive meaningful growth across the sector.”

Through this partnership, both institutions will work closely to identify, finance, and grow aviation opportunities across the continent. The collaboration aims to provide innovative leasing and financing solutions that support airlines, aviation operators, and related stakeholders in expanding capacity, modernizing fleets, and strengthening operational and fleet efficiency.

“Fidelity Bank remains dedicated to supporting the aviation industry through tailored financial solutions. Our collaboration with AFG strengthens our capacity to provide sustainable financing that will contribute to the expansion of aviation in Nigeria and across Africa,” explained Mr. Stanley Amuchie.

This partnership reflects a shared vision to foster long-term development, stimulate investment, and create sustainable opportunities within the African aviation industry.

Nigeria remains a strategic hub for aviation development in Africa. By combining AFG’s leasing expertise with Fidelity Bank’s deep sector knowledge and financial strength, the partnership is positioned to unlock new growth pathways and enhance the sustainability of the aviation ecosystem.

This collaboration in Africa forms part of AFG’s broader global portfolio expansion strategy, reflecting the company’s continued commitment to structured aviation investments across multiple international markets.

Fidelity Bank is regarded as a market-leader in the Nigerian aviation industry with a long list of interventions across the value chain. Its aviation finance solutions support aircraft acquisition and leasing, route expansion, aviation infrastructure development, cargo and export enablement; and partnership structures for large projects.

admin by — April 4, 2026 in Business 0
Skyway Aviation Handling Company Posts Strong Profit

Skyway Aviation Handling Company Plc delivered a robust financial performance for the year ended December 31, 2025, with profit after tax more than doubling to N11.73 billion, underscoring strong operational momentum and improved efficiency across its business lines.

The company’s audited results show revenue rose significantly by 54 per cent to N44.46 billion in 2025, up from N28.94 billion recorded in 2024. The growth was driven largely by increased demand for passenger and cargo handling services, alongside improved contributions from ancillary and Value Chain operations.

Costs of sales also climbed during the period, rising to N18.98 billion from N12.56 billion in the prior year. However, the increase was outpaced by revenue growth, resulting in gross profit expanding to N25.48 billion from N16.38 billion in 2024.

Operating performance remained strong, with profit from Operations nearly doubling to N14.62 billion compared with N6.53 billion recorded a year earlier. This was achieved despite higher administrative expenses, which rose to N11.24 billion from N10.05 billion, reflecting inflationary pressures, increase in utility and increased personnel costs.

After accounting for a tax expense of N2.55 billion, profit after tax stood at N11.73 billion, representing a 142 per cent increase from N4.83 billion in the previous year.

Total comprehensive income for the year came in at N11.42 billion, compared with N6.89 billion in 2024, reflecting a foreign exchange loss of N314.5 million during the period, in contrast to a gain recorded in the prior year.

The company’s balance sheet remained solid, with total assets increasing to N56.58 billion as at December 31, 2025, from N41.78 billion in 2024. The growth was largely driven by a significant rise in property, plant and equipment, which climbed to N24.61 billion from N16.03 billion, indicating continued investment in operational capacity.

Shareholders’ equity also strengthened, rising to N39.87 billion from N29.27 billion, supported by retained earnings growth to N21.74 billion.

Cash flow generation improved markedly, with net cash inflow from operating activities rising to N13.47 billion from N5.01 billion in the previous year. The company ended the year with cash and cash equivalents of N5.70 billion, up from N3.03 billion in 2024.

Despite increased capital expenditure of over N11 billion on fixed assets, Skyway maintained positive financing cash flow, supported by additional borrowings during the year.

Earnings per share rose to 867 kobo from 357 kobo in 2024, reflecting the strong profitability performance and enhanced shareholder value.

The company, however, declared a final dividend of N1.6 billion to its shareholders for the year under review.

Overall, Skyway Aviation Handling Company’s 2025 results highlight strong revenue expansion, good operational efficiency, and sustained investment in infrastructure, positioning the firm for continued growth amid rising demand in Nigeria’s aviation services sector.
Speaking on the Company’s financial performance, the Managing Director/CEO stated that the results reflect the strength of SAHCO’s strategic direction, the resilience of its business model, and the unwavering commitment of its workforce. She noted that despite a challenging operating environment marked by inflationary pressures and rising costs, the Company sustained strong margins and nearly doubled its operating profit.
Dr. Barr Taiwo Afolabi (CON), Chairman of Skyway Aviation Handling Company PLC commenting on the financial report, emphasized that sustained investments in modern equipment and infrastructure have been instrumental in driving operational efficiency, enhancing service delivery, and positioning SAHCO for long-term growth.

admin by — April 4, 2026 in Business 0
ADC: Retrace your steps, don’t put 2027 election in jeopardy – ACF warns Tinubu, INEC

The Arewa Consultative Forum, ACF, has urged President Bola Ahmed Tinubu and the Independent National Electoral Commission, INEC, to reconsider recent actions, warning they could threaten the 2027 general elections.

ACF National Publicity Secretary, T. A. Muhammad-Baba, spoke to Leadership newspaper on the state of the nation, expressing concern over what he described as troubling developments in the country’s electoral process.

He cited INEC’s removal of the leadership of the African Democratic Congress, ADC, led by David Mark, as well as the proposed voter revalidation exercise, as actions capable of undermining democratic stability.

Muhammad-Baba said such measures could erode public confidence in the electoral system, noting that they risk creating uncertainty ahead of the next general elections.

He further warned that Nigeria is already grappling with worsening insecurity and economic challenges, stressing that introducing political tension at this time could aggravate the situation.

“It looks like every step taken by INEC or the political authorities is putting the 2027 election into jeopardy. It is not too late, and we hope we call on the government, we call on INEC, we call on all those concerned to retrace their steps and stand by the principles and the tenets of democracy.

“Otherwise, all these things really portend a crisis, and it is not good for the country. We have enough. We have enough problems with insecurity. We have enough problems with economic hardships,” Muhammad-Baba said.

According to him, stakeholders must adhere strictly to democratic principles to avoid plunging the country into a fresh political crisis.

The ACF spokesman called on the federal government, INEC and other relevant actors to retrace their steps and ensure that all actions taken strengthen, rather than weaken, the nation’s democracy.

admin by — April 3, 2026 in News 0
Accord condemns alleged police funding from illicit sources

Osun State chapter of the Accord has once again criticised the All Progressives Congress, APC, over the alleged the use of proceeds of crime to support security agencies in the state.

In a statement issued on Thursday, the state chairman of the Accord, Victor Babalola Akande, said the development was disturbing and disgraceful.

Akande accused the APC of promoting illegality under the guise of security support.

The accusation is coming after the Osun APC in a statement on Thursday also criticised Governor Ademola Adeleke and the ruling Accord over alleged politicisation of security matters in the state.

The party in the statement signed by Kola Olabisi, its Director of Media and Information, said the protection of lives and property should remain the foremost responsibility of all tiers of government.

The statement faulted recent remarks by the Accord criticising local government efforts to support security agencies.

According to the APC, the condemnation of local council chairmen for donating operational vehicles to the police was “uncalled for, frivolous and ill-motivated.”

Meanwhile, Akande in the counter statement stated that “empowering the police with proceeds of crime is not patriotism, it is criminality dressed in borrowed robes.”

Insisting that such actions violate both legal and moral standards, he also alleged that individuals presented by the APC as elected council officials lacked the legal standing to manage public resources or initiate programmes tied to security.

According to him, “what the APC describes as assistance to security agencies represents a dangerous precedent where questionable authority meets questionable funding.”

The Accord chairman also criticised the APC’s record in governance, claiming the party had previously demonstrated disregard for due process and administrative accountability.

He warned that matters relating to security should not be politicised, adding that ignoring due process could undermine public safety rather than strengthen it.

“The police, as a respected national institution, must not be dragged into the murky waters of partisan illegitimacy. I urge caution in dealings involving law enforcement agencies.

“The Accord reiterated its rejection of what it termed a shameful narrative. Governance must adhere strictly to legal and procedural standards.

“Residents of Osun State deserved responsible leadership and attempts to legitimise alleged illegal actions could erode public trust and threaten order,” he warned.

admin by — April 3, 2026 in News 0