SEC DG urges private universities to embrace capital market financing

The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, has called on private universities in Nigeria to explore capital market financing as a sustainable alternative to dependence on tuition fees for infrastructure development and long-term institutional growth.

Agama said the continued reliance on students’ fees to finance capital-intensive projects was unsustainable, warning that such a funding model could undermine the capacity of private universities to expand their facilities, improve academic standards and compete globally.

He made the call while delivering the 16th convocation lecture of Achievers University, Owo, Ondo State, titled ‘From Grants to Growth: Financing Nigeria’s Universities Through the Capital Market’.

The SEC boss described the situation as a ‘tuition trap’, arguing that universities could not achieve sustainable development if their major source of income remained annual student payments.

According to him, long-term investments in university infrastructure require equally long-term financing arrangements rather than dependence on short-term revenue from tuition fees.

‘A university financed only by tuition is not self-funding. It is hand-to-mouth. Everything required to fund this university properly already exists inside the Nigerian financial system. You raised capital when it was hard. Why are you living on fees now that it is easy?’ he queried.

Agama observed that although government resources were limited and competed for by several sectors, Nigeria’s capital market offered enormous opportunities that private universities could harness to address their funding challenges.

He said the country’s pension fund industry, with assets valued at over N31.5 trillion, represented a huge pool of long-term investment resources that could be channelled into university development through appropriate financial instruments.

He identified university bonds, Sukuk and Real Estate Investment Trusts (REITs) as viable financing options, particularly for infrastructure projects, student accommodation and other income-generating assets.

The SEC director-general advised Achievers University to explore the commercial potential of its student accommodation facilities by developing them into structured investment assets capable of attracting institutional investors.

He explained that pension fund managers were interested in long-term investment opportunities, adding that universities could attract such funds through ring-fenced Special Purpose Vehicles (SPVs) designed to finance specific projects.

Agama, however, stressed that accessing the capital market would require universities to embrace transparency, maintain timely audited financial statements and establish a clear separation between institutional assets and those of their promoters.

He also described the introduction of the student loan scheme as a commendable government initiative, disclosing that there were considerations towards extending the facility to students in private universities.

Drawing from the history of Achievers University, Agama recalled that the institution was established through a private placement involving shareholders, noting that its foundation was itself an example of how the capital market could support university development.

He said the university could build on that foundation by returning to the capital market to mobilise funds for its next phase of growth.

Earlier, the Pro-Chancellor of Achievers University, Prof. Bode Ayorinde, said the institution aspired to become the best university in Africa but identified funding constraints as one of the major challenges confronting the realisation of that ambition.

Ayorinde expressed optimism that accessing the capital market would provide the institution with funds at a lower cost, ease its financial burden and ultimately reduce the pressure on students through lower tuition fees.

He added that increased student enrolment would also help reduce the cost per student, thereby improving the institution’s financial sustainability and affordability.

How AI-generated photos entered voter register by INEC

The Independent National Electoral Commission (INEC) yesterday blamed some of its registration officers across the country for the appearance of suspected artificial intelligence (AI)-generated photographs and other irregularities in its preliminary voters’ register.

The commission alleged that some officials exploited their authorised access to its registration system to introduce questionable records into the database.

INEC’s Director of Information and Communication Technology Dr Lawrence Bayode speaking during an interview on Arise Televisionsaid that investigations revealed that some registration officers used their login credentials to upload suspicious photographs and other irregular entries into the voters’ register.

According to him the commission uncovered the anomalies through its Automated Biometric Identification System (ABIS) which was deployed to scrutinise registration records and identify questionable entries.

‘We have registration officers on the field. And these registration officers they have login details to log into the system’ he said.

‘So what we have found is that some of these registration officers not all of them now some of them across the states nationwide they’ve done different things to bring these irregularities onto the register.’

Bayode explained that while some of the suspicious photographs appeared to have been generated using artificial intelligence others were products of poorly conducted registration exercises.

‘Some of these pictures are AI-generated. Some of them not AI-generated but very bad registration. And this thing got into the register by the registration officers and because they have access to register people’ he stated.

The ICT director said INEC had identified the questionable records and established how some of the irregularities were introduced into the system.

But he said the commission had yet to establish the motive of the officials involved.

‘When the ABIS was run on the system we saw these people. We know what they did. We know how they did it. But honestly I don’t know why’ Bayode added.

He maintained that the electoral body has commenced efforts to sanitise the voters’ register even before publishing the preliminary version.

Bayode also noted that the commission was working under pressure to conclude the exercise within the statutory 90-day period.

The revelation comes amid growing public concerns over the credibility of the voters’ register following the discovery of suspicious photographs alleged duplicate entries and other discrepancies.

The controversy erupted after INEC uploaded its preliminary register of voters to its official website on October 26 prompting scrutiny from members of the public.

Screenshots subsequently circulated on social media showed photographs suspected to have been generated using AI attached to voter records .

Apart from the questionable images some Nigerians raised concerns over alleged multiple registrations while others complained that their details were missing from the online database despite having previously registered.

INEC had earlier clarified that the online register was the same preliminary version displayed physically at Registration Areas nationwide between October 9 and 15 during the Display Claims and Objections exercise.

In a statement issued on October 27 the commission acknowledged that some questionable records had been identified and flagged during the physical display.

It assured Nigerians that a review was underway and that necessary corrective measures were being taken to address the anomalies.

The electoral umpire further emphasised that the published register was provisional and should not be mistaken for the final certified list of eligible voters.

According to the commission the online publication did not capture all the ongoing verification and data-cleanup activities aimed at eliminating irregular entries.

INEC is expected to conclude its verification adjudication and data-cleanup processes before certifying the final register of voters on December 15 2026.

Atiku wants culprits identified prosecuted

Presidential candidate of the African Democratic Congress (ADC) Atiku Abubakar asked the commission to identify the officials involved and prosecute them accordingly.

He called INEC’s admission that registration officers introduced artificial intelligence-generated images and other irregularities into the register as a serious failure of electoral safeguards.

He spoke through the Director of Strategic Communication of the African Democratic Congress (ADC) Presidential Campaign Council Phrank Shaibu.

The former vice president demanded an independent forensic audit of the register claiming that more than 20 million AI-generated images might be involved and urged the commission to preserve all voter records image files access logs and audit trails for scrutiny.

‘INEC has admitted that some AI-generated images are on the voter register and that registration officers introduced irregularities across the country.

‘The Commission charged with protecting Nigerians’ votes has acknowledged that its own system was abused by those entrusted to operate it. This is a catastrophic failure of leadership and safeguards’ he said.

Atiku faulted INEC for acknowledging that it knew how its officials tampered with the register but was yet to explain the circumstances or identify those responsible.

He challenged the commission’s leadership to disclose the evidence name the officials involved and explain why they had not been suspended or prosecuted.

‘Amupitan cannot admit the misconduct withhold the perpetrators’ identities and expect Nigerians to accept ignorance as an excuse. He must account for this failure now’ he said.

The former vice-president warned against any attempt to correct the register without preserving evidence of the alleged manipulation insisting that independent experts political parties civil society organisations and credible international observers should be allowed to examine the records.

‘No disputed record should be certified until the audit is complete’ he said.

Atiku also accused INEC of failing to address opposition parties’ demands for disclosure of the companies contracted to produce sensitive election materials.

He said transparency about the contractors and the safeguards governing their work was necessary to build confidence in the electoral process arguing that opposition parties should have access to the same information available to the governing party.

‘If INEC refuses to disclose the truth we will go to court and compel it. Every official found to have tampered with the register must be prosecuted’ he said.

Atiku called on opposition leaders and the international community to demand an independent audit full disclosure and accountability from the electoral commission.

He also accused President Bola Tinubu’s administration of allowing INEC to evade scrutiny warning that the commission could not expect public confidence while withholding information about the alleged irregularities.

The ADC campaign council said the credibility of the 2027 general elections depended on INEC’s willingness to identify those responsible disclose the contractors handling election materials and submit the register to independent scrutiny.

Amupitan: Mistakes of the past won’t occur in 2027

INEC chairman Prof. Joash Amupitan yesterday said the commission was working round the clock and with relevant stakeholders to ensure that the mistakes of the past do not occur in the 2027 general election.

He however said that the conduct of a successful general election is a collective national enterprise which requires the collaboration of the political parties and other organs to deliver a credible election.

Amupitan who spoke when the ECOWAS Fact-Finding Mission for the 2027 general elections visited the commission said while INEC serves as the impartial umpire the ultimate success of the ballot relies on political parties adhering to internal democracy and peaceful campaigning civil society driving voter education media houses combating fake news and digital disinformation and security agencies maintaining neutral protection.

The INEC boss said that a stable transparent and peaceful election in Nigeria remains a vital anchor for democratic governance in West Africa Amupitan said the commission was not unaware of several cases of violence across the country which he said constitute a threat to the successful conduct of the elections.

The commission he said was working in collaboration with the Interagency Consultative Committee on Election Security (ICCES) to ensure that all security challenges are addressed to ensure the safety of everyone participating in the elections.

He said ‘We have recognised that insecurity in some areas is a major challenge. We recognise that no election can be deemed successful if citizens or election personnel operate under threat. Working through the Inter-Agency Consultative Committee on Election Security (ICCES) alongside the Nigeria Police Force the Department of State Services (DSS) the NSCDC and the Armed Forces we have operationalised an intelligence-driven security architecture known as the ‘ICCES Tentacle.

‘This framework uses early risk-mapping tools to secure our 176846 polling units safeguard ad-hoc staff-particularly members of the National Youth Service Corps (NYSC)-and guarantee uninhibited access for all voters including Persons with Disabilities (PWDs)’ he said.

He noted that Nigeria as a founding member and steadfast pillar of the Economic Community of West African States (ECOWAS) has long recognised that its national democratic stability is inextricably bound to the collective peace democratic consolidation and regional prosperity of West Africa.

He said that the presence of the group at the INEC headquarters is not a routine diplomatic engagement but as a testament to our shared commitment to upholding the highest standards of constitutional governance democratic integrity and peer accountability across our sub-region.

The INEC chairman emphasised that the 2027 General Election represents a pivotal milestone in Nigeria’s uninterrupted democratic journey since 1999 adding that in a sub-region currently navigating complex political transitions and security challenges a stable transparent and peaceful election in Nigeria remains a vital anchor for democratic governance across West Africa.

He told his visitors that the scale of this exercise is vast. Nigeria’s voter population has officially crossed the historic threshold with our National Register of Voters now standing at over 103 million registered citizens.

He said that the voter register is currently being displayed across the country and whatever discrepancies are noticed will be corrected and the register will be properly cleaned up for release on the 15th of December 2026.

He also disclosed that serve the electorate and the country the Commission will deploy personnel and technological assets across 36 States and the Federal Capital Territory covering 774 Local Government Areas 8809 Registration Areas (Wards) and 176846 Polling Units.

‘The Presidential and National Assembly Elections will hold on Saturday 16th January 2027 while the Governorship and State Houses of Assembly Elections is scheduled for Saturday 6th February 2027

‘To ensure operational readiness the Commission has adopted a hands-on field-first approach. We have moved away from administrative assumptions by personally conducting Zonal Readiness Assessment Tours across the geopolitical zones in Nigeria.

‘We have concluded the readiness assessments in the South-West North-West South-East North-East and we are heading to Port Harcourt Rivers State for the South-South edition. The zonal assessment offers us the opportunity to engage directly with field staff inspect logistics and infrastructure readiness and consult with traditional and community leaders’.

He said the zonal assessment visits are important because it will help the commission set the tone for the election and ensure that staff of the commission are reminded of the need to remain neutral as well as receive reports about their preparedness for the election.

He disclosed that during one of the zonal visits the commission discovered the need for early deployment because of the terrains in such areas as well as issues of insecurity prevalent in those areas.

He disclosed that the off-cycle and by elections conducted by the commission offered it the opportunity to put to test some of our plans as we prepare for the election especially our BVAS which makes the election more transparent as a result of the use of technology for the election.

He said ‘It was a good opportunity to test the BVAS again to avoid the glitch which we experienced in 2023 and transmission of results has been very effective in all these elections. It is the same experience we are taking to the general election because we believe that every election provides its own lessons.

‘The mistakes of the past will not be allowed to repeat itself. The mock accreditation exercise scheduled to take place sometimes in November is aimed at testing the BVAS for accreditation and transmission of results just to be sure that we have been able to cure the problem of glitch we had in 2023’.

According to the INEC Chairman out of the 14 major statutory milestones set out for the 2027 General Election the Commission has successfully executed nine of the schedule.

He said ‘following the completion of three structured phases of the Continuous Voter Registration (CVR) exercise we recently concluded the physical display of the Preliminary Register of Voters at Registration Areas nationwide.

‘To complement this and ensure maximum public confidence we have also published the Preliminary Register on our dedicated online portal (display.inecnigeria.org) for public scrutiny claims and objections preparatory to the certification of the Final Register of Voters on 15th December 2026’.

He explained that the commission has received through the various Electoral Officers and Resident Electoral Commissioners about 600 complaints adding that the display of the register online further confirm such complaints and the commission is working to ensure that the complaints are properly addressed before the final display.

‘Technological discipline remains the cornerstone of public trust in our electoral process. The Commission has optimised our hardware and software suite. The Bimodal Voter Accreditation System (BVAS) will be deployed for dual biometric accreditation (fingerprint and facial) while our electronic Result Management Systems-including the newly introduced eEC8A electronic verification platform-guarantee that results declared at polling units are transmitted transparently and verified via the INEC Result Viewing Portal (IReV).

He also said that to ensure that results declared at the polling units are the ones transmitted to the IReV the commission has introduced some guards which include making sure that the results are authenticated at the polling unit before uploading them to the IRev.

‘Recognising that technology is only as reliable as the human beings operating it we have implemented sweeping staff welfare reforms. Under this administration we secured approval for the landmark Consolidated Election Management Body Salary Structure (CEMBSS) completely pulling our workforce out of the regular civil service scale alongside a 150 per cent increase in state operational overheads.

‘In return we maintain a policy of zero tolerance for administrative negligence extortion or partisan compromise backed by mandatory Oaths of Neutrality under Section 26 of the Electoral Act 2026.

‘As we look ahead to the monumental task of 2027 there are specific areas where the continued partnership and collaboration of ECOWAS will be invaluable to our institutional mission. First we welcome the robust deployment of long-term and short-term ECOWAS Election Observation Missions whose independent and objective assessments lend vital international credibility to our democratic process.

‘Second we seek enhanced peer-learning and technical exchange regarding best practices in combating sophisticated electoral disinformation managing logistics in complex terrains and strengthening inclusive voter education.

‘We look to ECOWAS to maintain active diplomatic solidarity-engaging political actors civil society and key stakeholders to ensure that peace accords and democratic commitments undertaken in Nigeria resonate positively across the entire West African

2027: Fadahunsi denies alleged vote-buying PVC collection through bursary scheme

Senator Francis Fadahunsi representing Osun East Senatorial District has denied allegations that he administered an oath to beneficiaries of his bursary scheme to secure their votes ahead of the 2027 general elections.

The second-term lawmaker also dismissed claims that he collected Permanent Voter Cards (PVCs) from youths and students in the district describing the allegations as politically motivated and unsupported by evidence.

In a statement issued through his Head of Media and Public Enlightenment Omole Omo-Osodi Fadahunsi challenged those behind the allegations including members of the Osun East Coalition of Youths and Students to provide evidence to substantiate their claims.

He maintained that the allegations were unfounded and urged those making them to present verifiable facts rather than circulate claims he said could mislead the public.

According to him ‘Our attention has been drawn to a statement by a purportedly non-partisan group alleging bursary payments PVC collection and oath-taking involving youths and students in Osun East.

‘We consider these allegations baseless unsubstantiated and potentially defamatory. While we would ordinarily not dignify what appears to be a politically motivated attempt to attract public attention we consider it necessary to set the record straight and enlighten reasonable youths students and the general public across Osun East Senatorial District.

This aptly captures what we believe to be an attempt by political actors to advance their interests through allegations they have yet to substantiate.’

He stressed that ‘Senator Francis Fadahunsi is a respected father figure leader mentor and role model whose contributions and commitment to public service continue to speak for themselves. He is not aware of nor has he authorised any such alleged bursary arrangement or oath-taking exercise as claimed by the coalition.

‘At present Senator Fadahunsi remains focused on engaging constituents across Osun East Senatorial District and mobilising support for the re-election of President Bola Ahmed Tinubu his own re-election bid and the success of all All Progressives Congress (APC) candidates.’

He added ‘We therefore challenge the coalition to provide credible verifiable evidence to substantiate its allegations particularly the serious claim of oath-taking. The public deserves facts not unsubstantiated accusations or politically motivated narratives designed to mislead unsuspecting citizens.

He said Senator Fadahunsi remains confident in his record of service which he believes speaks volumes about his commitment to the people.

Tambuwal condemns alleged attack on Sokoto ADC candidate

Former Sokoto State Governor and Senator representing Sokoto South, Aminu Waziri Tambuwal, has condemned the alleged attack on the governorship candidate of the African Democratic Congress (ADC), Manir Muhammad Dan’iya, urging security agencies to investigate the incident and prosecute those responsible.

Dan’iya had accused personnel of the Sokoto Marshal and the Sokoto State Community Guard of attacking his convoy around the Sokoto Airport on Friday night, firing gunshots, damaging his vehicle and threatening his life.

Reacting to the incident on Saturday, Tambuwal described the allegations as ‘deeply disturbing’ and called on the Nigeria Police Force, the Department of State Services (DSS) and other relevant security agencies to immediately investigate the matter.

In a statement issued by his media office, the senator demanded a ‘thorough, independent and impartial investigation’ to ensure that anyone found culpable was brought to justice.

He said every Nigerian had the right to move freely, associate with any political party and seek political office without intimidation.

‘No citizen should face threats, violence or harassment for exercising these rights,’ he said.

Tambuwal warned against the use of security outfits for political purposes, insisting that their primary responsibility was to protect citizens irrespective of their political affiliations.

‘Security outfits have a responsibility to protect all citizens, regardless of political affiliation, and must never become instruments of political intimidation,’ he said.

He also urged the Sokoto State Government to ensure that all security outfits under its control operated within the law and discharged their duties impartially.

The former governor called on political actors to embrace peaceful engagement, stressing that disagreements should be resolved through democratic and lawful channels.

‘Let the people speak through their votes, not through arms,’ he said.

On the ADC’s political activities, Tambuwal maintained that the party would go ahead with its scheduled presidential campaign flag-off in Sokoto on November 4, despite the reported incident.

‘Let it be clear: no amount of intimidation or threats will deter us,’ he declared.

He appealed to party members and supporters to remain calm and exercise restraint, while reaffirming the party’s commitment to peaceful political participation and the rule of law.

‘Sokoto belongs to all its people, and Nigeria belongs to all Nigerians,’ he said.

Fake drugs: Metuh seeks 15-year jail term asset forfeiture for offenders

Former National Publicity Secretary of the Peoples Democratic Chief Olisa Metuh has urged the National Assembly to prescribe stiffer penalties for the production and distribution of fake drugs and adulterated consumer products proposing longer prison terms and asset forfeiture for offenders.

Metuh who is the current Director of Mobilisation and Organisation of the Renewed Hope Ambassadors (RHA) described the five-year jail term or N5 million fine imposed on a businessman convicted of producing and distributing fake Extra Virgin Olive Oil as grossly inadequate.

The Federal High Court in Abia State had on Wednesday convicted Innocent Okoye for the offence sentencing him to five years’ imprisonment with an option of N5 million fine.

Reacting to the judgment Metuh described the punishment as a ‘mere slap on the wrist’ warning that weak sanctions could encourage unscrupulous manufacturers and distributors to treat counterfeiting as an ordinary business expense.

He said fake medicines adulterated food beverages cosmetics and household products posed serious dangers to public health exposing unsuspecting consumers to illnesses organ damage and preventable deaths.

‘The law must respond with consequences that fit the crime’ he said arguing that product counterfeiting should attract severe punishment because its consequences could affect hundreds or thousands of people.

The lawyer called for an urgent review of existing laws on fake drugs pharmaceutical adulteration and falsification of consumer products to ensure that penalties reflect the severity of the offences the harm caused and the financial gains made by offenders.

He advocated substantially longer prison sentences including punishment comparable to that prescribed for serious violent crimes where counterfeiting results in death or severe injury.

Metuh also called for fines proportionate to illicit profits forfeiture of assets acquired through the illegal business closure of offending facilities and compensation for victims.

He urged authorities to ensure the withdrawal of dangerous products from circulation and prosecute corporate executives manufacturers importers and distributors who knowingly facilitate the offences.

He however stressed that tougher legislation must be accompanied by prompt prosecution and consistent enforcement.

‘A five-year jail term or N5 million fine amounts to a mere slap on the wrist’ he said insisting that such punishment should never become the cost of doing business with human lives.

The call comes amid legislative efforts to strengthen the fight against counterfeit medical products and unwholesome food.

The Senate in July 2026 passed for second reading the Counterfeit Medical Products Fake Drugs and Unwholesome Processed Foods (Prohibition and Control) Bill 2026.

The proposed legislation provides for a 15-year prison term upon conviction asset forfeiture compensation for victims and enhanced enforcement powers for the National Agency for Food and Drug Administration and Control (NAFDAC).

BSP: Oct inflation could top 8%

Consumer price growth may have accelerated to a more than three-year high in October, potentially breaching 8 percent as higher domestic energy prices and transport fares drove up the cost of living.

In a statement on Friday, the Bangko Sentral ng Pilipinas (BSP) said inflation likely ranged from 7.1 percent to 8.1 percent during the month.

The lower end of the forecast suggested that inflation may have eased slightly from September’s 7.2 percent.

But the upper end pointed to a possible acceleration to its fastest pace since February 2023, when inflation reached 8.6 percent.

The Philippine Statistics Authority will release the October inflation data on Nov. 5.

‘Upward price pressures are likely to come from higher prices of domestic fuel, electricity and transport fares,’ the central bank said.

‘These pressures could be partially offset by lower prices of key agricultural commodities, such as rice, vegetables, meat and fish, owing to favorable supply conditions,’ it added.

On Oct. 22, a ‘strong majority’ of the BSP’s Monetary Board decided to raise the policy rate by half a percentage point to 5.5 percent, citing the need for a stronger response to stubbornly high inflation.

The move surprised markets, with only two of the 20 economists polled by the Inquirer having anticipated an increase of that size.

The BSP expects inflation to average 6.1 percent this year, considerably above its 3-percent target.

It further raised its inflation forecast for 2027 to 6 percent from 5.4 percent, though it expects price growth to ease to 3.3 percent in 2028.

BSP Governor Eli Remolona Jr. said policymakers were concerned about elevated oil prices, the risk of sharp wage increases and potential food supply disruptions stemming from the ongoing El Niño episode.

A weakening peso was another concern, he said, as a sharp depreciation could add to inflationary pressures.

Remolona said growth could recover by the first quarter of 2027.

The Philippine economy expanded by just 2.6 percent in the first half of this year, weighed down by a major corruption scandal and a war-driven surge in prices. ‘The BSP will remain vigilant and guided by incoming data, particularly on inflation and growth prospects,’ the central bank said. ‘It will continue to assess the impact of the latest developments in the Middle East on the country’s inflation and economic outlook.’

Plane crash: Olugbo appeals to Tinubu Environment Minister over water air pollution

The Olugbo of Ugboland Oba Frederick Enitiolorunda Obateru Akinruntan has called on President Bola Ahmed Tinubu and the Minister of Environment Balarabe Abbas Lawal to urgently intervene in the environmental crisis caused by the recent Nigerian Air Force (NAF) plane crash in the community.

The monarch raised the alarm over what he described as severe environmental degradation warning that the aftermath of the crash was threatening public health water sources and the livelihoods of residents in the riverine communities.

This was contained in a statement signed by Otunba Sesan Forolagba the monarch’s media aide.

Oba Akinruntan appealed during a visit to the crash site at the Nigerian Navy Forward Operating Base (FOB) in Ilaje Local Government Area where he was accompanied by prominent traditional rulers including Oba Monehin the Amapetu of Obinehin and members of the Olugbo-in-Council.

The royal delegation visited the location to express solidarity with the military over the tragic loss of Nigerian Air Force personnel and assess the ongoing recovery operations.

However the monarch said the incident had also triggered an ecological crisis with local water bodies reportedly contaminated fishing activities disrupted and air pollution worsening in the affected communities.

Expressing concern over the situation Oba Akinruntan appealed to the Federal Government to urgently commence environmental clean-up operations to prevent further damage and protect residents.

‘We are making this passionate appeal on behalf of the good people of Ugboland to our dear President Bola Ahmed Tinubu and the Minister for Environment that we urgently need the Federal Government’s immediate attention and assistance to clean up our environment. The water we drink and use for fishing has been tainted and the air pollution is worsening by the day. We need your rescue now.’

During a briefing at the naval base a senior Nigerian Air Force official explained the recovery process to the royal delegation including the careful sorting of aircraft debris.

The official also highlighted the deployment of state-owned swamp buggies and specialised construction equipment to facilitate recovery operations following the October 5 incident.

While commending the armed forces for their courage and sacrifice the Olugbo said the tragedy should be seen as a collective loss requiring the support and solidarity of all Nigerians.

He said: ‘When tragedy strikes them it strikes us all.’

The monarch stressed that immediate Federal Government intervention through environmental remediation was necessary to address the reported contamination safeguard public health and restore the livelihoods of residents of the affected coastal communities.

Cyprus Department of Meteorology – Forecast for the Sea Area of Cyprus (A)

FOR THE PERIOD FROM 0600 31/10/2026 UNTIL 0600 01/11/2026

Atmospheric pressure at the time of issue: 1018hPa (hectopascal)

Weak low pressure is affecting the area. Increased cloud will be present at times with isolated showers and/or thunderstorm.

Visibility: Good, but moderate to poor in showers

Sea surface temperature: 25°C

Warnings: NIL

AREA

PERIOD

WIND

STATE OF SEA

West Coast

Morning

Northeast to Southeast 3, gradually Southeast to South 3 to 4

Smooth to Slight

Afternoon

West to Northwest 3 to 4, at times locally 4

Smooth to Slight

Night

Northeast to Southeast 3, locally Variable

Smooth to Slight

South Coast

Morning

Northwest to Northeast 3, gradually Southeast to Southwest 3 to 4

Smooth to Slight

Afternoon

Southwest to West 3 to 4, at times locally 4

Smooth to Slight

Night

Southwest to Northwest 3, locally Variable

Smooth to Slight

East Coast

Morning

Southwest to Northwest 3, gradually Southeast to Southwest 3 to 4

Smooth to Slight

Afternoon

South to Southwest 3 to 4

Smooth to Slight

Night

Southeast to Southwest 3, locally Variable

Smooth to Slight

North Coast

Morning

Southeast to Southwest 3, gradually 3 to 4

Smooth to Slight

Afternoon

Southwest to Northwest 3 to 4

Smooth to Slight

Night

Southeast to Southwest 3, at times locally 3 to 4

Smooth to Slight

Weak peso pushes NG debt to record P19.66 trillion

The country’s outstanding debt ballooned to another record high of P19.66 trillion as of end-September, due to issuance of government securities and peso depreciation against the dollar.

Data from the Bureau of the Treasury (BTr) showed that the national debt inched up by 0.3 percent in end-September to eclipse the previous all-time high of P19.61 trillion in August.

On a year-on-year basis, the debt stock picked up further by 12.6 percent from the P17.46 trillion recorded a year ago.

The outstanding debt was equivalent to 99.5 percent of the government’s projected P19.77-trillion debt stock by the end of 2026.

For September alone, the government’s debt stock increased by P53.47 billion from the previous month.

Treasury data showed the current debt pile is now mostly made up of domestic debt with a 67.4-percent share, while external obligations accounted for 32.6 percent.

Domestic debt inched up by 0.07 percent to P13.25 trillion in end-September from P13.24 trillion in end-August.

‘The increase was mainly due to the P7.66 billion net issuance of government securities, while peso depreciation against the dollar added P1.12 billion to the value of onshore dollar bonds,’ the BTr said.

The peso weakened against the dollar to 62.601 as of end-September from 62.209 as of end-August, the BTr said.

Domestic debt also increased by 10.7 percent from P11.97 trillion in September 2025.

Total external obligations likewise increased by 0.7 percent to P6.41 trillion as of end-September from P6.37 trillion in end-August. The amount was nearly 17 percent higher than the P5.48 trillion booked in September 2025.

‘The increase was mainly attributable to the P40.12 billion increase in the peso value of foreign-currency denominated debt due to peso depreciation against the dollar and the P9.27 billion net availment of external loans,’ the Treasury said.

4 rescued after being swept by strong current in La Union

The Philippine Coast Guard (PCG), with assistance from four fishermen, rescued four persons who were swept away by a strong waves while swimming off Barangay San Francisco, San Fernando City, La Union, on Friday.

In a statement, the PCG said its Coast Guard Station La Union Baywatch Team responded to the incident and successfully brought the four individuals to safety.

The four local fishermen assisted the Coast Guard personnel in the rescue operation.

The incident occurred as tourists flocked to the province’s beaches during the long Undas holiday.

According to the PCG, the prompt response showed its commitment to maritime safety, emergency response and the protection of lives at sea.

The agency reminded the public to exercise caution when swimming, particularly in areas with strong currents, rocky shorelines and deep waters.

Swimmers were also urged to follow safety advisories and instructions from authorized personnel to prevent similar incidents.