Benin coup: Tinubu acted in Nigeria’s interest by deploying military to stop insurrection – Governors

The Nigeria Governors’ Forum (NGF) says President Bola Tinubu acted in Nigeria’s best security interest when he deployed military assets to stop and reverse the coup attempt in Benin Republic.

In a statement on Monday, NGF Chairman and Kwara State Governor AbdulRahman AbdulRazaq said Nigeria would have faced serious security problems if the coup had succeeded.

He explained that militants and other hostile groups in the Sahel could have used the situation to further destabilise Benin.

“Apart from admirably acting in support of democracy in the subregion, the President acted in the best interest of our country and West Africa with the intervention. With the Sahel in disarray and dire security conditions, and a significant portion of Benin, especially the W-forest, already infested by the militants, a successful coup would have had devastating effects on our own country due to our proximity to Benin Republic which shares border with many of our states,” the statement said.

The Forum praised the President and the Nigerian military for acting on time and helping restore stability and constitutional rule in Benin.

“It is our position that democracy, whatever its challenges, remains the best form of government for regional peace, stability, and development,” the Forum said.

“Subsuing the coup on the invitation of Benin Republic is a big plus for the collective security efforts by ECOWAS in the region and for Nigeria in particular. For instance, security threats on Porto Novo, Cotonou, or Parakou constitute grave security risk to Nigeria, and the President’s firm action is an effective check to this.”

EFCC seals Bayelsa ex-Gov Sylva’s Abuja house over alleged fraud

Special Assistant to former Minister of Petroleum, Timipre Sylva, Julius Bokoru, has condemned the sealing of his principal’s Maitama residence in Abuja by the Economic and Financial Crimes Commission, EFCC.

Bokoru expressed his displeasure in a statement issued on Monday, titled “A grave breach of decency: EFCC’s attempted raid and defacement of Sylva’s family home.”

DAILY POST recalls that in November, the EFCC declared the former Bayelsa governor wanted over an alleged $14.8m fraud.

Earlier, agents of the military intelligence stormed his Abuja home, arresting his brother and driver over his alleged link to an alleged failed coup attempt.

The media aide had criticised the anti-graft agency for failing to invite the former minister before launching a manhunt for him.

Similarly, Sylva wrote to the EFCC last week, seeking a mutually agreed date to honour its invitation.

Bokoru said the latest action by the commission was undertaken without a single letter, without a subpoena, without a warrant, without notification, and without even the most basic adherence to lawful process.

“No courtesy. No procedure. No humanity. It is behaviour unbecoming of any institution that claims to act in the national interest.

“What unfolded today at the Maitama residence of His Excellency, Chief Timipre Sylva, was nothing short of an affront to decency and a troubling assault on the very principles that underpin a civilised society,” the statement read in part.

Sanwo-Olu woos investors as Lagos tops ease of doing business ranking

 

Lagos State Governor, Babajide Sanwo-Olu, has urged both local and international investors to seize emerging opportunities in the state, citing Lagos’ rising ranking in ease of doing business and major improvements in its investment landscape.

According to a post cited on Lagos State’s X account on Tuesday, Sanwo-Olu made the call during the inauguration of TY Logistics Park, FZE, an ultra-modern warehousing and trade complex located in Alaro City, within the Lekki Free Zone.

The project, developed by TY Holdings, he said represents a significant addition to Nigeria’s logistics and supply chain infrastructure.

The governor said, “Lagos recently clinched the top position in Nigeria’s latest Subnational Ease of Doing Business report released by the Presidential Enabling Business Environment Council (PEBEC), scoring 85.6 per cent and emerging as the country’s best-performing investment destination.

“The new ranking reflects Lagos’ consistent reforms, infrastructure upgrades and deliberate policies designed to make the state the most attractive market for enterprise and innovation.”

Inaugurating the 29,000-square-metre logistics facility alongside Taraba State Governor, Agbu Kefas, Sanwo-Olu praised TY Holdings for its sustained confidence in Lagos and described the development as “a landmark investment that strengthens Lagos’ economic narrative.”

According to him, the project reinforces Alaro City’s transformation into a preferred industrial hub in sub-Saharan Africa, aligning with Lagos’ broader economic agenda to modernise logistics, attract foreign investment and drive sustainable growth.

Sanwo-Olu also highlighted ongoing efforts to improve mobility and trade efficiency within the Lekki corridor, including plans for a dedicated road linking Lekki Port, Dangote Refinery and Alaro City to reduce pressure on the Lekki-Epe Expressway.

He added that Lagos is currently constructing what will become the largest food logistics hub in West Africa.

In his remarks, Kefas commended the initiative and expressed pride in Taraba State’s participation, noting that the project strengthens inter-state economic cooperation, especially in the movement of agricultural produce from Taraba to Lagos processing hubs and markets.

‘Conclude renegotiation by Dec 31 or face nationwide shutdown’ — SSANU tells FG

The Senior Staff Association of Nigerian Universities, SSANU, has given the Federal Government up to December 31, 2025, to conclude its ongoing renegotiation with the union, warning that universities will be shut down indefinitely from January 2026 if the talks remain unresolved.

In a communiqué issued on Monday after its 53rd National Executive Council, NEC, meeting at the University of Jos, and signed by its President, Mohammed Haruna Ibrahim, SSANU said the government has failed to show commitment to addressing issues affecting non-teaching staff.

The union accused the government of sidelining its members in the payment of Earned Allowances and in the renegotiation process.

It insisted that the N50 billion agreed upon in the 2022 MoU be released immediately and that Inter-University Centres and research institutes excluded from previous payments be included in the next disbursement.

SSANU warned that failure to conclude a credible renegotiation by the end of December would trigger “total and comprehensive” industrial action.

The union also raised concern over the rising spate of school kidnappings, saying the recent abductions in Kebbi and Niger States reflect worsening insecurity around educational institutions.

It urged the government to strengthen campus security through modern surveillance systems, improved perimeter protection and better intelligence gathering.

SSANU rejected the Federal Ministry of Education’s proposal to introduce Public-Private Partnership, PPP, arrangements for municipal services in universities, saying previous PPP models in other sectors had led to job losses and poorer working conditions.

It insisted that no staff should lose their jobs or be downgraded under any such arrangement.

The communiqué also highlighted the deteriorating state of infrastructure in universities, citing unreliable electricity, faulty water systems, dilapidated hostels, outdated laboratories and weak security structures.

It called for predictable funding, timely releases and stricter monitoring of resources.

The union said rising inflation and fuel costs have worsened the hardship faced by university workers and demanded an urgent wage review in line with current economic realities.

NUPRC denies withholding N283.3bn exploration funds from NNPC

The Nigerian Upstream Petroleum Regulatory Commission has disclosed that over $185m (about N268.4bn) and N14.9bn have so far been released to the Nigerian National Petroleum Company Limited from the Frontier Exploration Fund.

The commission’s Head of Media and Strategic Communication, Eniola Akinkuotu, made the revelation in a statement issued on Monday, addressing recent reports that the NUPRC had withheld the Frontier Exploration Fund from NNPC Ltd.

Akinkuotu’s disclosure confirms that the fund has been disbursed to NNPC Ltd as planned, countering the assertions that payments were being withheld by the regulator.

The disclosure provides fresh insight into the utilisation of the controversial fund, which has been at the centre of transparency concerns following the introduction of the Petroleum Industry Act that mandates a 30 per cent allocation of NNPC Ltd’s profit oil and gas to frontier exploration.

According to the commission, the fund, drawn from statutory allocations for the exploration of frontier basins, was made available to the national oil company to accelerate oil and gas discovery efforts, particularly in underexplored regions across the country.

Akinkuotu explained that the Frontier Exploration Fund was not domiciled in the Commission but in an account controlled by the Central Bank of Nigeria. The commission added that its role was simply to evaluate the Work Programme submitted by NNPCL after which an approval would be given for the release of the fund.

“The Nigerian Upstream Petroleum Regulatory Commission has dismissed reports that it is withholding the Frontier Exploration Fund from the Nigerian National Petroleum Company. $185,123,333 had been approved along with N14.9bn. We approve funds based on certified activities and contracts awarded. So, if a contract has not been awarded, we cannot approve payments” the statement read.

According to the statement, the NUPRC in a bid to promote transparency, had contracted PwC to evaluate NNPCL’s claims before the final approval of the fund.

“So far, there is no outstanding sum. The NUPRC approved the final release on November 27, 2025 to the tune of $140,000,000. We have documents to back this up. Earlier, N14.9bn and $45m were released.

“Anyone interested can also reach out to the NNPCL rather than rely on faceless individuals seeking to tarnish the image of the Commission,” the statement added.

The commission noted that the Frontier Fund was solely for the use of the NNPC and it would be absurd for any operator to make spurious claims.

The upstream regulator added that the Minister of State for Petroleum, Senator Heineken Lokpobiri, had earlier issued a statement denying investigating the NUPRC over the handling of the fund.

“The minister had issued a rebuttal on the so-called investigation on November 17, 2025. It amounts to mischief for anyone to reference a statement which has been denied by the purported author,” the Commission concluded.

Shell Nigeria Gas Limited Boosts Operations In Ogun State

Nigeria’s premier gas distribution company, Shell Nigeria Gas Limited (SNG) is expanding its operations in Ogun State with an agreement to provide gas to SG Industrial FZE, a leading steel company in the Guandong industrial zone in the State.

 

The agreement adds to a growing list of clients for SNG which has developed as a dependable supplier of gas through distribution pipelines of some 150km, serving over 150 clients in Abia, Bayelsa, Ogun, and Rivers states.

 

The company recorded the achievements working in close collaboration with NNPC Gas Marketing Limited (NGML).

 

“Our commitment is clear — to build, operate, and maintain a gas distribution system that is not only reliable, but resilient, transparent, and designed to fuel growth,” Managing Director, SNG Managing Director, Ralph Gbobo said at the signing ceremony. “The agreement reflects our commitment to expanding access to cleaner and more reliable energy to support Nigeria’s growth agenda.”

 

Vice General Manager SG Industrial FZE, Moya Shua said: “We are thrilled to partner with SNG on this transformative journey. This collaboration marks a major step forward in securing reliable energy that will power our growth and long-term ambitions.”

 

SNG was incorporated in 1998 as a fully Shell-owned company. It had also increased access to its natural gas pipeline network, connecting new customers like Reliance Chemical Products Limited II, Ultimum Limited, Nigeria Distilleries Limited III and Rumbu Industries Nigeria Limited, reinforcing its commitment to boosting domestic gas utilization across Nigeria.

The milestones support the Federal Government’s Decade of Gas initiative and the broader gas development agenda.

CBN Names 82 Licensed BDCs, Warn Unlicensed Dealers Of Possible Penalties

The Central Bank of Nigeria (CBN), has granted Final Licenses to 82 Bureaux De Change (BDCs) to operate with effect from November 27, 2025.

This is in exercise of its powers conferred under the Bank and Other Financial Institutions Act (BOFIA) 2020, and the Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024.

While the CBN will continue to update the list of Bureaux De Change with valid operating licences for public verification on its website (www.cbn.gov.ng), the Bank advises the general public to avoid dealing with unlicensed Foreign Exchange Operators.

CBN warned, “For the avoidance of doubt, operating a Bureau De Change business without a valid licence is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020.

“Members of the public are hereby advised to note and be guided accordingly.”

FG, SEC, NGX Group Forge Unified Direction On Capital Gains Tax Reform

The Federal Government has inaugurated the National Tax Policy Implementation Committee (NTPIC), marking a deliberate shift toward a more predictable and market-aligned rollout of the newly enacted capital-gains-tax (CGT) provisions.

The move follows extensive technical engagements with key capital-market institutions, including the Securities and Exchange Commission (SEC) and Nigerian Exchange Group (NGX Group), reflecting policymakers’ recognition of the market’s role in sustaining liquidity, price discovery and long-term capital formation.

 

Chaired by leading tax and fiscal-policy expert Joseph Tegbe, the committee has been tasked with steering the implementation process toward clarity, investor protection and policy coherence. Its mandate includes ensuring transparent guidelines, broad stakeholder consultation and an execution framework that minimizes market disruption while reinforcing confidence among domestic and foreign investors.

 

Tegbe said the government would avoid policies that risk disrupting market activity or business investment. “Implementation of the new tax laws will be fair, transparent and humane. We will not roll out these policies in a way that cripples businesses or investors. Stakeholder engagement will be central to this process,” he said at the inauguration.

 

The shift follows sustained engagements by NGX Group and the SEC, during which market operators outlined the potential implications of a rapid CGT rollout on liquidity, investor sentiment and the market’s competitiveness at a time when Nigeria is seeking deeper pools of domestic and foreign capital.

 

Temi Popoola, GMD and CEO of NGX Group, commended the government’s approach, noting that the group, in collaboration with the SEC, has consistently advocated for a data driven approach that balances fiscal objectives with the need to preserve market depth. “We support the modernisation of Nigeria’s tax system, but reforms of this scale must be carefully calibrated to protect liquidity, sustain participation and maintain competitiveness,” he said. “Our engagements with government have focused on ensuring that implementation supports the capital market’s role in long-term investment and economic growth”. Popoola added that global competitiveness hinges not only on policy intent but also on the precision of execution, particularly for emerging markets seeking cross-border flows.

 

The government’s consultations intensified after the Honorable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, visited NGX Group, where market operators outlined the potential unintended consequences of an abrupt CGT rollout.

 

Analysts view the inauguration of the NTPIC as a constructive signal to investors, indicating that authorities intend to anchor fiscal reforms in evidence and consultation, rather than speed alone.

 

Both SEC and NGX Group have pledged continued collaboration with the committee to ensure that the eventual CGT implementation supports confidence, broadens participation and aligns with long-term capital-market development objectives

Journalists raise alarm over upsurge of insecurity in parts of Imo

Association of Ngor Okpala Journalists (ANOJ), has raised the alarm over the upsurge of insecurity in parts of Ngor Okpala Local government Area of lmo State, especially around the Sam Mbakwe airport, Umuowa-Ihitte-Umuhu-Okpala axis along Owerri-Aba Expressway.

The Association said the recent reports, both confirmed and unconfirmed, have continued to indicate that the above-mentioned areas have been taken over and are currently under siege by bandits/terrorists.

It stated that between Monday 1st and Tuesday 2nd December 2025, there were reported incidents of attacks on unsuspecting motorists allegedly resulting in abduction and killing of passengers by the suspected bandits/terrorists.

It noted that the attack on the Advance Team of Abia State Governor’s Office that was heading to the Imo Airport is one case too many and a clear pointer to the alarming wave of the terrorists’ menace.

In a joint statement issued on Sunday by the Chairman, Comrade Athan Agbakwuru and Comrade Henry Amadi, the Secretary, they alleged that the Association have it on good authority that the adjoining vast bushes in the mentioned areas have become the hideouts and safe haven to the daredevil terrorists.

They added that available information further revealed that several decomposing corpses and personal valuables belonging to attacked victims were discovered in the bushes during separate periodic combing exercises by the Ihitte Okwe, Umuowa, and Umuhu communities.

Part of the statement reads, “it’s on record that in the past two years or more, Ngor Okpala has become a flashpoint for insecurity.

“A woman was killed in her farm at Amala, another pregnant woman was slaughtered near the Airport Runway at Umueze Ezemba, staff of FAAN was kidnapped with his kinsman about June this year, commercial motorcyclist was attacked, killed and his bike snatched along Umuohiagu-Umuowa Road. The list is still counting.

“These series of violent crimes have continued to pose a grave threat to commercial, economic, social and political activities in our area.

“The ugly scenario has also portrayed our peaceful locality in bad and dangerous light as an unsafe place for innocent natives, residents and passersby but a haven for bandits and terrorists.

“It’s yet uncertain who the criminals perpetrating the heinous crimes are–our own people or armed Fulani herdsmen, Boko Haram or ISWAP terrorists.

“There is a military checkpoint at Umuowa, the Airport Junction, a few metres away from where bandits are holding sway and having a field day.

“Most worrisome is the fact the ease with which they operate and no proactive or responsible action taken to foil any attack or apprehend the culprits during or after operations.

“The Divisional Police Officer, DPO, and his men and the military in Ngor Okpala should rise to the occasion and fish and flush out the criminals without further delays.

“The Imo State Police Command, Military and Nigeria Security and Civil Defence Corps, NSCDC, in collaboration with community vigilante and youth groups should wake up and clear the bushes of unwanted residents therein.

“Traditional rulers, religious and political leaders and everyone in Ngor Okpala must have to be vigilant and ready to assist security agencies with factual information to enable them get to the root of the menace.

“The strategic position of Ngor Okpala as the host to Sam Mbakwe International Cargo Airport, SMICA, Owerri, and a link Abia, Rivers States and Imo State make it inevitably imperative for immediate and urgent action against the rising wave of banditry in the area.

“We have taken necessary cognizance of the intervention of the Imo State Police Command last weekend and commend same but urge and insist that the authorities must sustain the crackdown until the culprits are brought to book and made to face the full wrath of the law.”

UI launchpad for greatness, not just university — Olajomi-Otubu tells class of 2025

The University of Ibadan, UI, is more than a higher institution. It is a launchpad that prepares people for success, according to Mrs. Bola Olajomi-Otubu, alumna of the institution and Chief Executive Officer of Beige Spaces Limited, a design and construction firm.

Speaking at the Class of 2025 convocation ceremony, Olajomi-Otubu described UI as a foundational “training ground” and a “refining fire” that has shaped every significant milestone in her life. She said the university has played a pivotal role in her personal and professional journey.

“The University of Ibadan is not just another university. It is where my foundation for success was built. It is a training ground and, in many ways, the refining fire that set me up for success,” she said.

Olajomi-Otubu noted that she is a proud second-generation alumna. Her father, HRH Prof. Amusat Titilayo Hassan, the Elesugbon of Esugbon, Obaruwa I, and retired Professor of Zoology, is also an alumnus who spent more than four decades at the institution. Two of her sisters also graduated from UI.

She likened the university’s impact to the strength of a building’s foundation. “When I think about UI, I think of foundations that are strong, steady and enduring. As CEO of a construction and design firm, I know that any building that will stand tall must rest on the right foundation. The same applies to life. Our foundations are critical.”

Addressing the chancellor, vice chancellor, faculty members and graduating students, she congratulated the Class of 2025 for their perseverance through academic hurdles and strike disruptions. She said returning to UI felt like coming home, recalling her childhood years in the university staff school, Abadina College, and the Department of Psychology, where she formed lasting relationships.

Olajomi-Otubu reflected on the sacrifices, late-night reading sessions and the friendships built along the way, stating that these experiences serve as the “foundation stones” upon which graduates must build their lives. She urged them to draw strength from the resilience instilled by their time at UI.

Sharing her journey from psychology graduate to human resources professional and later to construction entrepreneur, she recounted losing a job before eventually leading a company that employs nearly 60 professionals. “That is how strong the foundation this university gave me is. I can rebuild, pivot or completely change my path because I carry the lessons I learned within these great walls,” she said.

She explained that building anything meaningful in life requires more than resources, stressing that “faith” is a critical component of progress. “Life after UI will test your resolve. There will be days when your plans collapse like an unreinforced structure. In those moments, remember your foundation and the lessons you learned here.”

Shifting to spiritual insight, she said faith in God has remained her compass, adding that she has learned to choose courage over fear. She encouraged graduates to embrace patience, discipline and values that produce lasting success.

“Choose the hard and the right over the easy and the quick. Real success is not instant. It is slow-cooked like smoky jollof rice. Good things take time,” she said.

She cautioned graduates against the illusions created by social media and advised them to be mindful of the digital footprints they leave behind. “The world is loud, especially online. Loud is not always right. The internet does not forget. Stillness is power.”

Olajomi-Otubu advised the graduating class to focus on building character, relationships and legacy rather than following fleeting trends. “Anyone can hustle, but few can build. Build something that lasts longer than you.”

She emphasised the value of community, diversity of thought, and resilience, noting that life in Nigeria often presents difficult challenges. “In Nigeria, life does not throw lemons. It throws pepper, pepper pro max. Learn to make pepper soup on your way to greatness.”

Referencing outstanding UI alumni such as Nobel Laureate Prof. Wole Soyinka, Chinua Achebe, Prof. Olikoye Ransome-Kuti and Prof. Grace Alele-Williams, she described them as “giants” whose legacies continue to inspire new generations.

“We see farther today because they stood tall yesterday. You, the Class of 2025, now join this extraordinary lineage. You are the next set of shoulders for others to stand on.”

She urged the graduates to step into the world as “builders of the future,” confident in their purpose, faith and integrity. “Believe that your story matters. Believe that you can rise from pepper to purpose. Your purpose will be your compass.”

Concluding her address, she charged the class: “Go forth. May your foundations hold strong, your faith shine bright and your future stand tall.”