​LASTMA impounds 84 vehicles over traffic violations in Lagos

​LASTMA impounds 84 vehicles over traffic violations in LagosThe Lagos State Traffic Management Authority, LASTMA, has impounded 84 commercial and private vehicles for various traffic violations during a major enforcement operation carried out at key traffic-prone locations across the state.

The weekend operation covered Idumota, Iddo, Ijora-Olopa, Costain and Onipanu, with the agency targeting areas where repeated violations by motorists and commercial bus operators have continued to disrupt the smooth movement of traffic.

LASTMA General Manager, Olalekan Bakare-Oki, said the agency was particularly concerned about commercial buses driving against traffic and reversing unlawfully along the one-way section between Iddo and Idumota through Cater Bridge.

He warned that the practice posed significant danger to motorists, commuters and pedestrians using the route.

“Motorists and other legitimate road users approaching the bridge may have little or no forewarning that a commercial vehicle is unlawfully reversing against the prescribed direction of traffic, thereby creating an extremely hazardous situation with the potential to precipitate devastating collisions, injuries and fatalities,” he said.

The enforcement operation was met with resistance in some locations, with some LASTMA officers reportedly assaulted and injured while carrying out their duties.

Bakare-Oki confirmed that suspected miscreants who allegedly attacked the officers and damaged operational vehicles belonging to the agency were arrested during the exercise.

He said the continued enforcement was necessary to address what he described as a growing disregard for traffic regulations and restore order along major traffic corridors.

The LASTMA general manager also said the agency had repeatedly warned transport operators, commercial bus drivers and other road users against converting under-bridge areas, road setbacks and other unauthorised spaces into illegal garages.

“We have repeatedly cautioned transport operators, commercial bus drivers and other road users against occupying under-bridge spaces, road setbacks and unauthorised locations as illegal garages as such practices constitute serious impediments to effective traffic management and pose considerable risks to public safety,” he said.

Bakare-Oki assured that LASTMA would continue its enforcement operations to improve compliance with traffic regulations, discourage dangerous driving practices and safeguard motorists, commuters, pedestrians and other road users.

He stressed that public roads, bridges and spaces beneath bridges would not be allowed to be used for illegal loading, parking, vehicle repairs or garage operations.

The LASTMA boss consequently advised commercial bus operators, motorists, transport unions and other stakeholders to avoid driving against traffic, dangerous reversing, illegal parking, indiscriminate loading and the use of unauthorised areas as garages or loading points.

He warned that offenders would face appropriate sanctions in line with existing Lagos State traffic laws.

Bakare-Oki also called on residents to report dangerous driving, traffic obstructions, reckless motorists and other violations through LASTMA’s toll-free short code, 3367, to facilitate swift intervention and help prevent avoidable incidents on the state’s road network.

VP Shettima returns to Nigeria after UNGA

VP Shettima returns to Nigeria after UNGAVice President Kashim Shettima has returned to Nigeria after representing President Bola Tinubu at the 81st United Nations General Assembly (UNGA) in New York, United States.
Shettima left Abuja on September 20 to lead Nigeria’s delegation to the annual international gathering.

According to a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, the Vice President delivered President Tinubu’s national statement during the General Debate.

“During the visit, VP Shettima delivered President Tinubu’s National Statement at the General Debate, where Nigeria renewed its call for reform of the UN Security Council, demanding permanent African representation, fairer global financing, stronger climate support and deeper multilateral cooperation,” the statement said.

Shettima also attended the Third High-Level Roundtable of the Africa Minerals Strategy Group, where President Tinubu called on African countries to move beyond exporting raw minerals and focus more on processing, manufacturing and adding value.

At an education financing event jointly hosted by Nigeria and Italy, Shettima restated Nigeria’s commitment to education as an important investment in productivity, human capital and national development.

“At the high-level education financing event co-hosted by Nigeria and Italy, Senator Shettima reaffirmed Nigeria’s commitment to education as a critical investment in productivity, human capital and national prosperity, while supporting the Global Partnership for Education’s $5bn financing campaign.”

The Vice President also met with Nigerians living abroad, highlighting the role of their investments, expertise and networks in supporting Nigeria’s development.

His other engagements included meetings with the new leadership of the ECOWAS Commission and UN Deputy Secretary-General Amina J. Mohammed.

The statement said Shettima used the meetings to promote Nigeria’s positions on development financing, regional integration, economic cooperation, technology, peace and security, while restating President Tinubu’s call for a more representative and equitable global order.

AXA Mansard seeks N18.3bn from shareholders through rights issue

AXA Mansard seeks N18.3bn from shareholders through rights issueAXA Mansard Insurance Plc is seeking shareholders’ approval to raise up to N18.3bn through a rights issue as the insurer moves to increase its capital base.

The proposal is contained in the notice of the company’s 34th Annual General Meeting scheduled to hold virtually on 9 October, 2026.

Under the proposal, the rights issue will involve the issuance of ordinary shares of N2 each to existing shareholders in proportion to their current holdings.

The company said the final size of the offer, number of new shares, issue price and other terms would be determined by the board, subject to regulatory approvals.

Shareholders will also be asked to authorise the board to increase the company’s issued share capital by the number of new shares issued under the rights issue, including any oversubscription that may arise.

The board will further be empowered to allot the new shares, file the required returns with the Corporate Affairs Commission and take other steps necessary to complete the capital raising.

AXA Mansard said shares not taken up by shareholders during the rights issue period could be offered to existing shareholders who indicate interest in acquiring additional shares, subject to regulatory requirements.

The company will also seek approval to amend its Memorandum and Articles of Association after completion of the rights issue to reflect the increased issued share capital.

The proposed capital raise is one of the major resolutions to be considered at the AGM, alongside the company’s audited financial statements for the year ended 31 December, 2025.

Shareholders will also vote on the re-election of three directors retiring by rotation. They are: Kola Adesina, Gbola Akinola (SAN) and Tope Adeniyi.

The meeting will also consider the appointment of Ernst & Young as external auditors and authorise the board to determine the auditors’ remuneration.

AXA Mansard is likewise proposing annual remuneration of N2.5m for the chairman and N1.5m each for Independent Non-Executive Directors and other Non-Executive Directors.

The proposed remuneration will apply for the financial year ending 31 December, 2026 and subsequent years until reviewed by the company at an AGM.

Shareholders will also elect their representatives on the Statutory Audit Committee and receive disclosure of managers’ remuneration.

The company said the AGM would also be streamed live online for shareholders, regulators and other stakeholders.

The proposed N18.3 billion rights issue is subject to approvals from the relevant regulatory authorities.

FG to unveil capital market plan, national savings scheme

FG to unveil capital market plan, national savings schemeThe Federal Government, through the Securities and Exchange Commission, is set to unveil the Nigerian Capital Market Master Plan 2.0 and the National Savings Scheme at the 2026 National Capital Market Conference scheduled for 19 October in Abuja.

The event, which will bring together key stakeholders from the public and private sectors to deliberate on measures to deepen Nigeria’s capital market, is billed to take place at the Banquet Hall of the Presidential Villa.

In a statement, the SEC said the conference would focus on strategic initiatives to enhance domestic resource mobilisation, strengthen investor participation and support sustainable economic growth and national development.

The Vice-President, Senator Kashim Shettima, will be the Special Guest of Honour, while the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, will serve as Chief Host. The Director-General of the SEC, Dr Emomotimi Agama, is the host.

Speaking on the conference, Agama explained that the Capital Market Master Plan 2.0 is a 10-year strategy designed to guide the development of Nigeria’s capital market. He described the master plan as a critical document for measuring the growth and development of the market, adding that the endorsement of Vice-President Shettima would be vital to its implementation.

On the National Savings Scheme, Agama said it was principally an inclusion tool designed to provide Nigerians across income groups with opportunities to save and invest for the future. He said tax incentives would also be provided to encourage participation in the scheme

According to him, the initiative aligns with the Federal Government’s fiscal policy direction, including tax relief for citizens earning below a specified income threshold, which he said would leave them with more disposable income.

CBN allots N8.14tn in T-bills, exceeds Q3 target

CBNThe Central Bank of Nigeria raised N8.14tn through Treasury bills issuances in the third quarter of 2026, surpassing the Debt Management Office’s N5.8tn target by N2.34tn, as investor demand exceeded the government’s borrowing plans.

A review of eight Nigerian Treasury Bills auctions conducted between July and September shows that total allotments were 40.34 per cent above the planned issuance for the quarter.

The 364-day Treasury bill accounted for the largest share of the funds raised, attracting N7.09tn, representing 87 per cent of total allotments during the period.

The concentration of borrowing in the one-year instrument came amid high yields in July and August, which sustained investor interest in government securities.

However, yields began to decline in September following a shift in monetary policy, with the CBN lowering stop rates across the three tenors.

The stop rate on the 364-day bill fell to 15.89 per cent at the 23 September auction, down from a quarterly peak of 17.70 percent recorded on 8 July.

A review of eight Nigerian Treasury Bills (NTBs) auctions conducted between July and September shows that total allotments were 40.34 per cent above the planned issuance for the quarter.

This represents a decline of 181 basis points, reflecting the change in borrowing costs in the primary Treasury bills market over the quarter.

UBA showcases Africa’s opportunities on global stage

Oliver AlawubaGroup Managing Director and Chief Executive Officer, United Bank for Africa (UBA) Plc, Oliver Alawuba, has called for greater focus on turning Africa’s vast opportunities into investable projects.

Alawuba spoke in New York at the Forward Africa Leaders Symposium, held during the ongoing United Nations General Assembly engagements (UNGA), where he participated in a fireside chat themed “From Mandate to Impact.”

Speaking on the need to translate Africa’s development ambitions into tangible outcomes, the UBA boss said Africa’s opportunities deserve rigorous preparation and serious capital, noting that projects must be commercially sustainable and supported by institutions capable of delivering on their commitments.

He also emphasised the need for dependable revenues, credible institutions and accountable delivery to unlock sustainable capital for the continent.

Drawing from UBA’s experience across the continent, Alawuba highlighted the bank’s role in connecting African enterprise with capital, expertise and financial infrastructure, citing projects across telecommunications, energy, roads, digital services and other critical sectors.

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In Chad, for instance, he explained that UBA financed a $6.56m telecommunications modernisation project initiated in 2021, with completion recorded in 2025 and the loan fully repaid. For Alawuba, the project demonstrates how a clearly defined development need can move from financing to completion and repayment when the right structure and accountability are in place.

According to Alawuba, UBA has consistently remained instrumental in propelling Africa’s growth aa is further evidenced in a $45m million loan facility to Oak Asset SPV for road construction in Kenya, where the bank’s relationships extend beyond project financing to government collections and contractor facilities, creating banking support around the broader delivery chain.

Beyond physical infrastructure, he highlighted the role of digital finance in expanding opportunities across African markets, pointing to Leo, UBA’s digital banking platform, which now serves more than six million users across 20 African countries and processes over 16 million transactions annually.

Highlighting Leo’s support for English, French, Portuguese and Swahili, he noted that UBA continues to take the lead with innovation demonstrating, how digital services can help bridge language and market barriers, while its payment capabilities support everyday banking and cross-border commerce.

He also pointed to UBA’s financing activities across markets including Burkina Faso, the Democratic Republic of Congo, Ghana, Tanzania and Liberia as examples of the different ways commercial banking can support African development, ranging from direct lending and syndicated financing to guarantees, contractor facilities and banking services supporting project operations.

Alawuba noted that, these experiences reinforce the importance of African financial institutions being close enough to understand local markets while maintaining the international connections required to mobilise capital and support cross-border investment, saying, “At UBA, Africa’s Global Bank, we bring the conviction that African enterprise belongs at the centre of Africa’s transformation, supported by strong institutions and productive global partnerships.”

ADC National youth leader, Sultan Bello resigns from party

ADC National youth leader, Sultan Bello resigns from partyThe national youth leader of the African Democratic Congress, ADC, Sultan Bello, has resigned from the party with immediate effect.

Bello announced his resignation in a letter dated September 24, 2026, addressed to the Chairman of the Ja’oji Gyadi Gyadi Arewa Ward in Tarauni Local Government Area of Kano State.

In the letter, Bello said his decision followed extensive consultations, careful consideration, and deep personal reflection.

The letter read, “After extensive consultations, careful consideration, and deep personal reflection, I write to formally tender my resignation from the African Democratic Congress (ADC), with immediate effect.

“This decision has not been taken lightly. I am grateful for the opportunity to have served and contributed to the growth and activities of the party during my time as a member. I sincerely appreciate the relationships, experiences, and lessons gained throughout my journey within the ADC.

“I would like to express my profound appreciation to my principal, His Excellency, Rt. Hon. Rotimi Amaechi, CON, for his guidance, trust, support, and the opportunity to work alongside him. I remain grateful for his confidence in me and wish him continued success in all his future endeavours.

“I also extend my appreciation to the leadership, stakeholders, members, and supporters of the African Democratic Congress for the opportunity to serve and contribute to the party.

“I respectfully request that my resignation be accepted and that my name be removed from the membership records of the party with immediate effect.

“Please accept, Sir, the assurances of my highest esteem and regards.”

2027: ‘I’m part of that mission’ – Gov Lawal clarifies position on Wike’s Rainbow Coalition

2027: ‘I’m part of that mission’ – Gov Lawal clarifies position on Wike’s Rainbow CoalitionZamfara State Governor, Dauda Lawal, has confirmed his opposition to the activities of the Rainbow Coalition led by the Minister of the Federal Capital Territory, FCT, Nyesom Wike.

governors elected on the platform of the All Progressives Congress, APC, under the aegis of the Progressive Governors Forum, had distanced themselves from the coalition, arguing that its activities could jeopardise the political ambitions of some members of the party.

Wike subsequently hit back at the governors, led by Imo State Governor Hope Uzodinma, accusing them of being politically lazy.

Speaking in an interview with Channels Television on the sidelines of the 81st United Nations General Assembly in New York, Lawal said Wike must clarify where his political allegiance lies.

The governor said the issue would be brought to the attention of President Bola Tinubu upon his return from his working vacation in France.

“I’m part of that mission, and our message is very, very clear: be on one side. You can’t be on two sides,” the governor stated.

According to him, it is unacceptable for the minister to be on the side of the ruling party while still supporting candidates from other parties.

“You can’t be supporting the APC here and still be supporting some other political parties somewhere else.

“It doesn’t make sense. It’s not done anywhere,” the Zamfara State governor added, insisting that he is always in support of the decision of the forum.

Rivers Assembly orders arrest of PAMO varsity VC

Rivers Assembly orders arrest of PAMO varsity VCRivers State House of Assembly has ordered the immediate arrest of the Vice Chancellor of PAMO University of Medical Sciences, Professor Smith I. Jaja, over his repeated refusal to appear before the House committee.

The House ad hoc committee is probing the disbursement of scholarship funds to the institution.

The Assembly issued the warrant of arrest on Friday during its 53rd legislative sitting.

Martins Wachukwu, Special Assistant on Media to the Speaker of the Rivers State House of Assembly, disclosed the resolution in a statement on Friday.

According to the statement, the committee, headed by the Deputy Leader of the House, Dumle Maol, had invited the Vice Chancellor on several occasions to explain how funds released to the university under the scholarship arrangement were utilised.

The Assembly learnt that the university received over N29 billion from the Rivers State Government under the scholarship scheme.

The report also disclosed that the amount received did not correspond with the student enrolment figures.

The Assembly asked the Rivers State Government to set up a funds recovery committee to identify and recover all unaccounted funds allegedly in the possession of PAMO University and return the recovered money to the state’s Consolidated Revenue Account.

Speaking, the Speaker of the House, Martin Chike Amaewhule, lamented what he described as problems with the implementation of the scholarship agreement.

The Speaker frowned at discrepancies among documents submitted by the Ministry of Finance, the Ministry of Education and the Office of the Accountant-General of the State.

“The documents are not consistent in their accounting of the funds released to the university.

“Based on the Assembly’s assessment of the records before it, only about N5 billion of the more than N29 billion released to PAMO University appeared to have been utilised,” he said.

Nigeria at 66: Sanwo-Olu urges citizens to set aside ethnic, religious differences

Nigeria at 66: Sanwo-Olu urges citizens to set aside ethnic, religious differencesLagos State governor, Babajide Olusola Sanwo-Olu has urged Nigerians to set aside ethnic, religious and other differences and work collectively towards building a peaceful, stronger and more prosperous country.

Sanwo-Olu made the call on Friday at the Lagos Secretariat Community Central Mosque, Alausa, Ikeja, following a special Jumat service held to mark Nigeria’s 66th National Independence Day.

The governor, who was represented at the event by his deputy, Dr Kadri Obafemi Hamzat, said Nigeria possessed the human resources, expertise and natural wealth required to achieve sustainable development and greater prosperity.

However, he identified national unity as a key factor in harnessing the country’s potential, noting that divisions among Nigerians had continued to hinder the pursuit of common goals.

“Part of the challenge is that we are not united as a people. We see ourselves differently, so there is no coincidence of purpose,” Sanwo-Olu said.

He maintained that Nigerians would be able to achieve greater progress if they worked together towards a shared national objective.

“If we unite and come together, we have the talent, ability and resources to lift this country. So, I am saying that unity is very important, and that’s the major challenge that we face,” he said.

Sanwo-Olu also attributed some of the country’s longstanding-difficulties to divisions among its people, citing the Civil War as an example of the consequences of disunity.

The governor stressed that the task of building a better Nigeria should not be left to the government alone, calling on religious and traditional leaders, the private sector and citizens to play active roles in national development.

He recalled the response to the COVID-19 pandemic, when government agencies, private organisations, religious institutions and individuals collaborated to confront the crisis.

According to him, the spirit of collective action demonstrated during the pandemic should not be limited to emergencies but should also be channelled towards addressing the country’s wider development challenges.

Earlier, the Chief Imam of the mosque, Yunuss Al-Imam, urged Nigerians to take greater responsibility for the development of their communities instead of relying solely on the government.

The cleric also called for an end to tribal sentiments and religious intolerance, stressing that no ethnic group should regard itself as superior to another.

“I want to urge the congregation to shun tribalism, religious intolerance and traditional conflicts, and instead embrace peace, mutual respect and peaceful coexistence for the progress and development of society,” he said.