2027: ADC fumes as Abia govt slams heavy campaign charges on candidates

African Democratic Congress, ADC, has rejected the new campaign fees announced by the Abia State Structure for Signage and Advertising Agency, ABSSAA.

DAILY POST recalls that the agency placed N200m and N150m outdoor campaign fees on presidential and governorship candidates, respectively.

The Abia advertising agency also placed N150m, N50m and N20m on Senatorial, House of Representatives and House of Assembly candidates.

The Chairman of the ADC in Abia State, Kalu Kalu, who was present on Wednesday when the new campaign regime was announced, questioned the rationale behind the charges.

Kalu who was accompanied by the ADC House of Assembly candidate for Arochukwu constituency, Francess Ogbonnaya Tabitha, raised the alarm that the humongous fees contravened the provisions of the Electoral Act, as regards campaign expenditure limit.

He also alleged that the campaign fees, if allowed to stay, could affect the chances of the candidates of the opposition parties, as well as destroy fair play during the 2027 polls in Abia.

“Has it not exceeded the election expenses that are provided by the Electoral Act,” the Abia State ADC Chairman fumed.

He advised the Abia agency to reduce the campaign fees to acceptable rates, noting that the agency must avoid actions that contravened the Electoral Act.

But unveiling the new campaign fees on Wednesday in Aba, the agency said no political party was being discriminated against in the advertising policy.

Kaduna killings: CAN calls for permanent security presence in vulnerable communities

The Christian Association of Nigeria (CAN), Kaduna State Chapter, has called for the establishment of permanent security formations in vulnerable communities following the killing of more than 30 residents of Narido (Kizakoro) community in Kamaru Ward of Kauru Local Government Area.

In a statement signed by its State Chairman, Rev. Caleb Bawa Ma’aji, the association condemned the attack, describing it as a barbaric assault on innocent civilians and a serious violation of the sanctity of human life.

CAN expressed deep sorrow over the massacre.

According to the association, the attackers showed a complete disregard for humanity by targeting peaceful residents, including men, women, children and the elderly.

The association said the latest attack was another painful reminder of the repeated violence suffered by the community.

It recalled that seven people were killed in a similar attack in August 2025, while another nine residents lost their lives and 11 others were injured in June 2026.

According to the statement, the fresh killings have once again forced the community to prepare for another mass burial.

“These recurring attacks show that existing security measures are not enough. We urge the government to establish permanent security formations and rapid response mechanisms in vulnerable communities to better protect innocent residents.”

It also urged authorities to deploy more security personnel, sustain military operations against criminal hideouts, improve intelligence gathering and strengthen collaboration between security agencies and local communities.

“While we acknowledge the efforts of the Kaduna State Government, the Federal Government, security agencies and other stakeholders in addressing insecurity, the continued loss of innocent lives shows that more decisive action is urgently needed,” the statement said.

CAN further called for the arrest and prosecution of those responsible for the attack, including anyone found to be sponsoring or supporting the perpetrators.

It urged residents to remain peaceful, law-abiding and vigilant while cooperating with security agencies by providing useful information that could help prevent future attacks.

CAN also encouraged religious and community leaders to continue promoting unity, reconciliation and peaceful coexistence despite the repeated violence.

Police bar Amotekun, vigilantes from Osun governorship election security

The Nigeria Police Force has barred the Western Nigeria Security Network, codenamed Amotekun, vigilante groups and other unauthorised security outfits from participating in security operations during the 2026 Osun State governorship election.

The directive was announced by the Assistant Inspector General of Police in charge of Zone XI in a statement made available to journalists on Wednesday through the zone’s Public Relations Officer, SP Ojedele Olanrewaju.

The police said only constitutionally recognised security agencies would be allowed to provide security before, during and after the governorship election.

According to the statement, the police, working with other authorised security agencies, will be responsible for maintaining law and order throughout the election period.

“As part of efforts to maintain law and order throughout the election period, the Nigeria Police Force, in collaboration with other constitutionally recognised security agencies, will be solely responsible for the provision of security before, during and after the election,” the statement declared.

The police also said all security personnel deployed for election duties must be properly identified and wear their approved official uniforms.

The AIG stressed that Amotekun, vigilante groups, neighbourhood watch organisations, political groups and other quasi-security outfits have no role in election security operations.

According to the statement, “Only constitutionally recognised security agencies are authorised to participate in election security operations. Amotekun, vigilante groups, quasi-security outfits, political organisations, neighbourhood watch groups or any other unauthorised body are not eligible to perform security functions, provide crowd control or interfere with the electoral process.”

The police warned that anyone or any group found carrying out unauthorised security duties or attempting to intimidate voters, electoral officials or other stakeholders would face legal consequences.

The command also appealed to political parties, candidates and their supporters to conduct themselves peacefully and obey the law throughout the election period.

It urged residents of Osun State to report suspicious movements, acts of violence, voter intimidation or any breach of the peace to the nearest police station or other authorised security agency.

The statement added, “The Nigeria Police Force, Zone XI Headquarters, remains committed to protecting lives and property, safeguarding the electoral process and providing a secure environment that will enable eligible voters to exercise their constitutional rights without fear or intimidation.”

Sustain aggressive posture against terrorists – Mutkut to North-East troops

The Commander Infantry Corps of the Nigerian Army, Major General Godwin Mutkut, has urged troops of the 27 Task Force Brigade, Sector 2 of Joint Task Force Operation HADIN KAI, to remain aggressive, professional and committed in the ongoing fight against Boko Haram terrorists and the Islamic State West Africa Province (ISWAP) in the North-East.

The Corps Commander gave the charge during an assessment visit to the brigade headquarters in Buni-Gari, Gujba LGA of Yobe State.

A statement signed on Wednesday by the Acting Assistant Director, Army Public Relations, Lieutenant Tasi’u Abdullahi Abbas, said the visiting General commended officers and soldiers for their courage, resilience and sacrifices in safeguarding Nigeria’s territorial integrity despite prevailing operational challenges.

He emphasized that sustained operational pressure remains key to denying terrorists freedom of action.

“The troops must maintain a high level of vigilance, discipline, combat readiness and offensive spirit in all operations.

“There should be no room for complacency in the theatre,” he said.

The Corps Commander also admonished personnel to remain law-abiding and disciplined in the discharge of their duties, while warning against social media misconduct, disclosure of operational locations, smoking, drug abuse and other vices capable of undermining operational effectiveness and the image of the Nigerian Army.

General Mutkut reassured the troops of the Nigerian Army’s commitment to their welfare, noting that good leadership remains a cornerstone of operational success.

The Commander 27 Task Force Brigade, Brigadier General Mukhtar S. Mukhtar, who received the Corps Commander, said the visit would boost the morale of troops.

He reaffirmed the Brigade’s commitment to sustaining aggressive operations aimed at eliminating the remnants of terrorist elements within its area of responsibility.

JAMB registrar Oloyede bows out, Aina takes over Friday

JAMB registrar Oloyede bows out, Aina takes over FridayThe Joint Admissions and Matriculation Board will on Friday formally usher in a new era in its leadership as its outgoing Registrar, Prof. Ishaq Oloyede, hands over to his successor, Prof. Segun Aina.

The board announced that the official handover ceremony would hold on Friday, July 31, 2026, by 10am with a live broadcast on its official social media platforms.

In a notice released on Wednesday, JAMB invited the public to witness what it described as a significant milestone in the board’s leadership journey.

“Join us for the live broadcast of the official handover ceremony as Prof. Is-haq Oloyede, the outgoing Registrar of JAMB, formally hands over to Prof. Segun Aina,” the announcement reality

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Newly appointed JAMB registrar, Prof. Segun Aina

The ceremony marks the end of Oloyede’s tenure as registrar, which expires on July 31, and the official commencement of Aina’s leadership of the examination body.

PUNCH Online had earlier reported that President Bola Tinubu appointed Aina as the new Registrar of JAMB to succeed Oloyede.

The appointment was announced in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.

According to the Presidency, Aina is a Professor of Computer Engineering at Obafemi Awolowo University, Ile-Ife, with expertise in digital infrastructure, national examination systems and institutional reforms.

The Presidency noted that Aina holds a Bachelor of Engineering in Computer Systems Engineering from the University of Kent, as well as a Master’s degree in Internet Computing and Network Security and a PhD in Digital Signal Processing from Loughborough University, United Kingdom. He also completed the Senior Management Programme at Lagos Business School.

It added that the incoming registrar has more than 15 years of experience advising federal and state governments on digital transformation, institutional reforms and systems design.

Aina has also served as a consultant to examination bodies, including the National Examinations Council and the National Business and Technical Examinations Board, particularly on ICT systems and examination integrity.

The Presidency further described him as one of Nigeria’s youngest professors of Computer Engineering, noting that he would become the youngest registrar in JAMB’s history.

Tinubu expressed confidence that Aina would consolidate on the reforms and achievements recorded under Oloyede’s administration and further strengthen the operations of the examination body.

Non-oil exports drive autonomous FX inflows to $71bn

CBNHigher earnings from non-oil exports helped push foreign exchange inflows from autonomous sources to $70.54bn in 2025, reinforcing the growing role of non-oil sectors in Nigeria’s external earnings, according to the Central Bank of Nigeria.

The CBN’s 2025 Annual Report and Accounts showed that autonomous foreign exchange inflows increased 25.12 per cent from $56.38bn in 2024. The inflows accounted for 64.21 per cent of Nigeria’s total foreign exchange receipts of $109.86bn during the year.

According to the apex bank, the increase was driven mainly by stronger non-oil export proceeds and higher over-the-counter foreign exchange purchases, particularly capital importation.

The report indicates that autonomous sources continued to dominate Nigeria’s FX supply as reforms in the foreign exchange market encouraged greater participation outside official channels.

By contrast, inflows through the CBN declined 2.08 per cent to $39.32bn in 2025, representing 35.8 per cent of total FX inflows. The decline was largely attributed to lower receipts from government debt and foreign exchange swap transactions.

The stronger performance from non-oil exports comes amid the CBN’s broader efforts to improve transparency, liquidity and price discovery in the foreign exchange market through reforms, including the implementation of the willing buyer-willing seller framework and the introduction of the Nigeria Foreign Exchange Code.

NGX loses N648bn as renewed profit-taking hits equities

NGX loses N648bn as renewed profit-taking hits equitiesThe Nigerian stock market reversed Tuesday’s gains on Wednesday as renewed profit-taking across major counters triggered a broad-based sell-off, wiping out approximately N648bn from investors’ wealth.

Widespread profit-taking outweighed targeted buying interest in selected counters, leaving market breadth firmly in the red as declining equities almost doubled those that recorded price appreciation.

At the close of trading, the Nigerian Exchange All-Share Index dropped 0.41 per cent, falling from an opening level of 247,984.55 basis points to settle at 246,980.17 basis points. In tandem with the benchmark index, total market capitalisation contracted from N159.992tn at the start of the session to close at N159.344tn.

Market breadth closed negative as 45 equities recorded price declines against 23 gainers, underscoring the dominant profit-taking mood among investors. The downturn was led by Cornerstone Insurance Plc, which shed 10.00 per cent to drop from N6.00 to N5.40, and Legend Internet Plc, which also fell 10.00 per cent to close at N4.05 from N4.50.

Other significant decliners included The Initiates Plc, which lost 9.91 per cent to land at N30.00; Guinea Insurance Plc, easing 9.78 per cent to N0.83; and ABC Transport Plc, which slipped 9.45 per cent to end the day at N5.75.

Despite the overarching bearish sentiment, insurance stocks remained in noticeable demand among bargain hunters. Lasaco Assurance Plc led the gainers’ chart, appreciating 10.00 per cent to move from N2.20 to N2.42. CNIF advanced 9.98 per cent to close at N154.30, while NEM Insurance Plc climbed 9.97 per cent to finish at N34.20. SUNU Assurances Nigeria Plc gained 9.83 per cent to settle at N3.91, and Prestige Assurance Plc rose 7.14 per cent to close at N1.50.

Meanwhile, major heavyweight counters provided a buffer against further market decline by remaining unchanged for the session. MTN Nigeria Communications Plc, Dangote Cement Plc, Seplat Energy Plc, Custodian Investment Plc, and Julius Berger Nigeria Plc were among the prominent stocks that closed flat.

Sterling HoldCo grows profit 20% amid loan loss provisions

Sterling HoldCo grows profit 20% amid loan loss provisionsSterling Financial Holdings Company Plc increased its profit after tax by 20.4 per cent to N50.30bn in the first half of 2026, despite a sharp rise in loan loss provisions as the lender expanded its credit portfolio.

The financial holding company reported profit after tax of N50.30bn for the six months ended 30 June 2026, up from N41.78bn in the corresponding period of 2025. Profit before tax also rose 21.9 per cent to N55.53bn, while gross earnings climbed 31.5 per cent to N279.6bn.

However, the group’s credit impairment charges surged to N23.85bn from N5.21bn a year earlier, representing an increase of about 358 per cent. The higher provisioning reflected the cost of supporting an expanding loan book, even as the non-performing loan ratio remained unchanged at 4.7 per cent.

Interest income rose 33.8 per cent to N223.58bn, driven by growth in loans and investment securities, while net interest income increased 41 per cent to N137.39bn, despite a 23.6 per cent increase in interest expenses.

Customer deposits grew 21.1 per cent to N3.62tn, while loans and advances increased 13.7 per cent to N1.61tn. Total assets expanded 19.3 per cent to N4.67tn, and shareholders’ funds rose by nearly 28 per cent, supported by the successful completion of the group’s rights issue.

Dangote Cement revenue hits N2tn on strong local demand

Dangote Cement revenue hits N2tn on strong local demandDangote Cement Plc, Africa’s largest cement manufacturer and the most capitalised industrial firm on the Nigerian Exchange Limited, has reported a group revenue of N2.514tn for the half-year ended 30 June 2026.

According to unaudited financial statements submitted to the NGX on Wednesday, the figure represents a 21.35 per cent increase compared to the N2.072tn recorded in the corresponding period of 2025, driven largely by sustained local demand and strong operational efficiency across key African markets.

The company’s growth momentum was firmly anchored by its domestic operations, where revenue expanded by 25.17 per cent to reach N1.805tn during the six months, up from N1.442tn in the first half of 2025.

Domestic demand accounted for 9.70m metric tonnes of the total 14.94m metric tons sold across the group, delivering N1.086tn in earnings before interest, taxes, depreciation, and amortisation.

Meanwhile, Pan-African operations maintained steady top-line growth, generating N775.35bn in revenue, a 13.67 per cent year-on-year rise, and contributing N136.57bn to group EBITDA.

Strong top-line expansion translated into double-digit profitability gains across all performance metrics. Gross profit rose 30.51 per cent to N1.590tn from N1.218tn in H1 2025, while operating profit gained 30.66 per cent to close at N1.060tn.

Driven by a significant reduction in net finance costs, which fell to N112.11bn from N216.16bn as foreign exchange losses and interest charges eased, profit before tax surged 34.43 per cent to N981.39bn. Consequently, net income for the period settled 22.69 per cent higher at N638.53bn, raising basic earnings per share by 24.33 per cent to N38.22.

The industrial giant sustained its growth momentum into the second quarter of the year, generating N1.316tn in revenue between April and June 2026, marking a 22.19 per cent increase over the N1.077tn posted in the second quarter of 2025. Second-quarter profit before tax jumped 34.01 per cent to N560.22bn, while net profit for the quarter closed at N317.44bn compared to N311.21bn recorded in the same three-month window last year.

Despite ongoing operational and macroeconomic pressures, cost increases remained contained below revenue growth. Total production cost of sales edged up 8.29 per cent to N924.31bn, primarily driven by fuel and power consumption of N384.49bn and raw material costs of N225.41bn.

Selling and administrative expenses saw haulage costs increase to N318.60bn due to energy and logistics pressures. Over the period, the group expanded its overall balance sheet, increasing total assets 9.62 per cent to N6.622tn and boosting net assets 21.00 per cent to N3.170tn, positioning the firm to maintain positive investor sentiment on the exchange.

Osun ZLP candidate demands stronger security at PVC distribution centres

Governorship candidate of the Zenith Labour Party, ZLP, in the forthcoming Osun State election, Olufemi Adesuyi, has urged the Independent National Electoral Commission, INEC, to strengthen security at Permanent Voter Card, PVC, distribution centres across the state.

This is following the reported theft of voter cards in Okuku, Odo-Otin Local Government Area on Sunday.

Adesuyi, who made the appeal in a statement issued on Tuesday, stressed that enhanced protection at the 332 ward collection centres was essential to safeguard the integrity of the electoral process ahead of the August 15 governorship election.

He called on the Osun INEC Resident Electoral Commissioner, Oluwatoyin Babalola, to work closely with security agencies to ensure adequate deployment of personnel to all PVC collection locations, particularly in vulnerable rural communities.

According to the ZLP standard-bearer, “the reported incident in Okuku should prompt immediate preventive measures to avoid similar occurrences in other parts of the state where eligible voters are collecting their cards.”

Adesuyi said the security of electoral materials remained fundamental to public confidence in the election, adding that every registered voter deserved unhindered access to their PVC without fear of disruption or criminal interference.

“We cannot afford a situation where citizens who have fulfilled their civic responsibility by registering are denied access to their Permanent Voter Cards because of security lapses or criminal activities,” he said.

He stated that, “The protection of PVCs and other electoral materials is critical to the credibility of the election. INEC should immediately reinforce security at all designated collection centres across Osun State.”

Adesuyi also warned that the reported theft in Odo-Otin should not be treated as an isolated incident, saying it exposed potential vulnerabilities that could threaten the ongoing PVC distribution exercise if left unaddressed.

“The Odo Otin incident should serve as a wake-up call. If one collection centre can be compromised, others may also be at risk. We urge the Resident Electoral Commissioner to act swiftly by securing all PVC distribution centres. Protect the votes and protect democracy,” he added.

The appeal is coming after reports that suspected hoodlums invaded a PVC distribution centre located at Oyinlola DC Primary School in Okuku during the ongoing collection exercise organised by INEC.

Witnesses said the assailants allegedly fired gunshots into the air, causing panic among residents and prospective voters before fleeing with packs of Permanent Voter Cards kept near officials attending to registrants.