Category: PM News

The High Court sitting in Ifo, Ogun State, has ordered accelerated hearing in a suit arising from a disputed transaction involving the proposed acquisition of assets of Dolphin Steels Nigeria Limited, a company currently under receivership.

The suit, marked HCF/146/2026, was instituted by Prodigy Finance Limited against Zenith Bank Plc and Mr. Olugbenga Ajala, Receiver/Manager of Dolphin Steels Limited.

Justice Ogunfowora gave the order on Monday, August 3, 2026, while delivering a ruling in the matter.

The court noted that although the claimant had stated in its pleadings that the principal contractual sum paid by it had been refunded, its claims for damages arising from the alleged breach of the agreement would have to be established during trial.

Consequently, the court declined an application for an injunction but ordered an accelerated hearing of the substantive case in the interest of justice.

The judge abridged the time within which the defendants are to file their respective defences to 21 days, while the claimant was given seven days to respond to the defences, if any.

The matter was adjourned to September 7, 2026, for commencement of pre-trial conference.

The disputed transaction

The case followed an agreement concerning the proposed sale of assets belonging to Dolphin Steels Nigeria Limited, which is under receivership.

Prodigy Finance Limited had approached the parties with an interest in acquiring the company’s assets, including its land, buildings, plant, machinery and scrap materials.

According to documents filed in court, a letter dated May 13, 2026, stated that upon payment of 75 per cent of the agreed purchase price, possession of the property would be handed over within 48 hours, while title documents would be released upon full payment.

The total purchase price was put at ?2.25 billion.

The claimant said it subsequently paid ?1.7 billion, representing about 75.6 per cent of the purchase price, into the designated receivership account on May 25, 2026.

However, according to the claimant, possession was not handed over within the period contemplated in the agreement.

The claimant also alleged that an executed copy of the Contract of Sale was not returned to it despite the document having been signed and forwarded by its solicitor.

In a letter dated June 10, 2026, Prodigy Finance requested clarification on the status of the transaction and sought confirmation of when possession of the assets would be handed over.

Transaction terminated

The dispute took a different turn when the Receiver/Manager subsequently communicated the termination of the transaction and proposed a refund of the ?1.7 billion paid by Prodigy Finance.

The Receiver/Manager stated that the decision was taken on the instruction of the bank in its capacity as creditor controlling the receivership estate, and that the payment had been made contrary to an earlier agreed payment structure.

Prodigy Finance, however, rejected the termination and the proposed refund, insisting that the payment was made pursuant to the understanding reached by the parties.

The claimant subsequently wrote to the Group Managing Director/Chief Executive Officer of the bank, stating that it did not accept the refund and maintained that the transaction should be completed.

The company also demanded specific performance of what it described as the contractual obligations arising from the transaction.

Following the disagreement, Prodigy Finance commenced the present proceedings, claiming, among other reliefs, damages for alleged breach of contract, misrepresentation, recovery of funds, interest and costs.

The defendants are yet to present their respective defences, following the court’s order abridging the time for filing their responses.

The substantive issues in dispute are therefore expected to be determined during the hearing of the case.

Three more suspects allegedly linked to recent abduction of Professor Samuel Avengbe Okunsebor, a lecturer at Nasarawa State University have been arrested by operatives of Department of State Services, DSS.

Professor Okunsebor, who is the dean of Faculty of Agriculture of the University was rescued early Wednesday, July 15, 2026, at Mile Uku, a border community between Lafia and Nasarawa-Eggon Local Government Areas of Nasarawa State, two days after he was abducted by DSS operatives.

A lady and a man were arrested by the DSS during the rescue.

However, a security source disclosed on Saturday that three more suspects linked to the abduction of the Don were arrested on Friday night at a local brothel on the Mararraban Akunza, Lafia – Makurdi highway

The source identified the suspects as 25-year-old Yakubu Abubakar (aka Black/Starboy), of the Doemak tribe in Plateau State; 37-year-old Usman Abubakar Mairiga, and 27-year-old Sale Babauro Abubakar.

Mairiga and Abubakar are Hausa and Fulani respectively.

The source added that the suspects are being held at Nasarawa Command of DSS disclosed for further, investigations.

According to the source, a valid detention warrant has been obtained from a magistrate’s court to enable the DSS to keep the suspects for its investigation.

The Olu of Warri, Ogiame Atuwatse III, has inspected preparations for his fifth coronation anniversary in Okere, Warri, Delta State.

The monarch carried out the inspection during his morning fitness routine, riding an electric scooter through the area with members of his security team.

A video of the inspection was shared on his Facebook page on Saturday.

The post said the monarch conducted an on-the-spot assessment of preparations for his upcoming fifth coronation anniversary as part of his fitness routine.

Residents and other people who saw the monarch during the inspection cheered and hailed him as he moved around the community.

His public appearance also attracted several reactions on Facebook, with users praising his accessibility and friendly manner.

One user, Iniobong Esen, described the monarch’s approach to leadership as commendable, saying leaders should be able to move freely among their people and understand their living conditions.

Another user, Avwerosuo Amos Govina, described Atuwatse as a king with ‘class and charisma,’ while Enujeke Prosper called him ‘the Digital King with a difference.’

The Olu of Warri is expected to mark his fifth year on the throne with a series of activities.

The monarch has previously attracted attention for using an electric scooter during public appearances instead of a traditional motorcade.

In March 2025, he rode a scooter through his ancestral home, Ode-Itsekiri, where residents welcomed and cheered him.

In December 2025, he also rode an electric scooter while inspecting a newly completed road in Delta State.

Nigerian military has listed rescue of two women and two children abducted from Gwoza local government area of Borno State since 2023.

The four kidnapped victims made up of two women and two children were 361 abductees rescued by troops in various operations across the country in the past one week.

Maj.-Gen. Michael Onoja, Director of Defence Media Operations said on Friday while providing weekly updates on ongoing military operations across the country.

According to Onoja, the two women and the two children were discovered on Aug. 1 at a terrorist enclave near Amuda Bridge in Gwoza Local Government Area of Borno State.

‘The four victims had reportedly been held captive since the 2023 farming season before their recovery and subsequent handover to the community leadership’

Onoja listed the rescue of the 259 other victims, arrest of scores of terrorists, informants, logistics suppliers and other criminal suspects among the achievements of the troops in the nationwide operations.

He added that the operations also resulted in the neutralisation of terrorists, recovery of arms and ammunition, disruption of logistics networks and dismantling of illegal oil refining facilities,

Giving further details of the operations, Onoja said in the North East, troops of Operation HADIN KAI rescued 35 victims, including women and children, while arresting suspected terrorist informants and logistics suppliers during clearance and interdiction operations.

He also revealed that on July 31, troops rescued 31 persons after foiling an attempted abduction along the Buratai-Kamuya Road in Biu Local Government Area of Borno.

The victims, according to him, comprise of 22 adult males, five adult females and four children, who were rescued after troops pursued fleeing terrorists towards Mangari-Dora.

‘Between Aug. 2 and Aug. 4, several family members of suspected terrorists surrendered to troops in Gwoza, Konduga and Bama Local Government Areas.

’20 other suspected terrorists surrendered to troops at Kwuari in Konduga, while troops arrested suspected terrorist logistics suppliers and recovered foodstuffs destined for terrorist elements,’ he said.

Onoja further disclosed that troops also rescued 18-year-old Blessing Tuggur, who was abducted in November 2025 at Dogoba Kopre axis in Askira Uba, Borno.

In the North West, he said the troops of Operation FANSAN YAMMA, apprehended 21 persons attempting to cross into Birnin Kebbi, with five subsequently identified as terrorists and handed over to the Department of State Services.

According to him, four other suspects were arrested at Darusa Village Market in Gudu Local Government Area of Sokoto, where six rustled cattle, mobile phones and N165,000 were recovered.

Onoja said the Air Component of the operation also conducted a precision strike on terrorists gathered with about 15 motorcycles at Kampani Bobi and Beri Settlement in Mariga, Niger.

‘In the North Central, Operation WHIRL STROKE troops rescued nine kidnapped victims and arrested suspected criminals, including a suspected gun runner.

‘Seven victims abducted along the Wukari-Zaki-Biam Road were rescued in Ukum, Benue, while two others were rescued during a separate kidnap incident at Oke Ere in Yagba West, Kogi.

‘Troops also arrested suspected associates of wanted terrorist leader, Mathew, popularly known as ‘Full Fire’, after destroying his hideout at Sabongida Leke in Ukum,’ he added.

The defence spokesman said the troops of Operation SAVANNAH SHIELD recorded the largest single rescue operation during the period, freeing 308 abducted persons in Kainji Lake National Park, Borgu Local Government Area of Niger.

He said the victims comprised 163 indigenes of Woro in Kwara State and 145 persons from Niger State, with women and children constituting the majority.

According to him, troops also arrested a suspected terrorist informant in Nuku community, Kaiama Local Government Area of Kwara, during the ongoing operations.

In the South South, Onoja said the troops of Operation DELTA SAFE rescued 11 kidnapped victims along the Lagos-Benin Road in Ovia North East Local Government Area of Edo.

He added that the troops also sustained operations against crude oil theft, dismantling illegal refining sites and recovering large quantities of suspected stolen crude oil and refined petroleum products.

‘In the South East, Operation UDO KA troops arrested several suspects linked to an ambush on soldiers and recovered weapons and ammunition from camps in Rivers, Delta and Imo.

‘The operation also led to the arrest of five suspected members of the Indigenous People of Biafra following an attack on Fulani herders in Enugu.

‘Troops recovered two General Purpose Machine Guns, ammunition and an Improvised Explosive Device during follow-up operations,’ he said.

The defence spokesman said the operations demonstrated the Armed Forces’ sustained commitment to rescuing victims, disrupting criminal networks and denying terrorists freedom of action.

He added that the military would sustain collaboration with other security agencies, local security groups and communities to enhance intelligence gathering and improve security nationwide.

According to him, the Chief of Defence Staff, Gen. Olufemi Oluyede, commended troops for their discipline and commitment, urging Nigerians to continue providing useful information to security agencies.

‘He also assured Nigerians that the Armed Forces would sustain the current tempo of operations until peace and stability were fully restored across the country,’ he added. (NAN)

Social media platform X has announced the end of its Revenue Sharing programme, replacing it with a new reward system designed to pay creators for producing original content.

The company disclosed the changes on Friday through its X Creators account, saying the new Original Content Rewards Programme would focus on rewarding users who contribute original ideas, reporting, analysis, creativity and meaningful conversations on the platform.

‘Today, we’re introducing the Original Content Rewards Program, a new way to reward creators who bring original ideas, expertise, reporting, creativity, and commentary to X,’ the company said.

As part of the transition, X said it had stopped accepting new enrolments into the Revenue Sharing programme with immediate effect.

Existing participants, however, will continue earning under the current system until September 7, 2026.

According to the company, creators already enrolled in Revenue Sharing will receive three final payouts, with payments scheduled for August 14, August 28 and a final settlement around September 11 for earnings accrued through September 7.

From September 8, eligible Revenue Sharing creators will be allowed to apply for the new Original Content Rewards Programme.

The first payout under the new scheme is expected on August 28, while creators joining from the old programme will receive their first payment on September 25.

Under the new model, creators will earn based on qualified impressions generated by their original content, with payments made every two weeks.

X said qualified impressions refer to unique views from Premium users on the Home Timeline where at least half of a post is visible.

The platform added that repeated views from the same account, paid or promoted impressions, artificially generated traffic and fraudulent views would not count towards earnings.

To qualify for the programme, creators must be at least 18 years old, reside in a supported country, maintain an account in good standing and subscribe to X Premium, Premium+ or Premium Business.

Applicants must also have at least 500 verified followers and generate a minimum of 500,000 Home Timeline impressions from verified users within the previous 90 days.

The company said creators would also be required to publish original content regularly to remain eligible.

X explained that qualifying content includes original threads, videos, memes, graphics, illustrations, reporting, commentary, analysis and creative reactions that add value to conversations on the platform.

It warned that simply reposting another person’s content or making minor edits such as cropping, adding filters, borders, watermarks or simple text overlays would not qualify for rewards.

The company also said copied content, automated posts, misinformation and content uploaded without the necessary rights or permissions would be excluded from the programme.

X added that creators who violate the programme’s rules could face temporary or permanent removal from the rewards scheme.

‘Original content is content you personally create that reflects your own voice, perspective, expertise, or creativity,’ the company said.

It added that the new programme was designed to reward creators who drive conversations and make meaningful contributions to the platform.

The Nigerian Navy has stepped up its crackdown on crude oil theft and illegal refining in Rivers State, recovering about 24,000 litres of suspected stolen crude oil in Bonny Local Government Area.

The operation, carried out by personnel of the Forward Operating Base (FOB) Bonny under Operation Delta Sentinel, followed intelligence about attempts by suspected oil thieves to establish illegal connections to oil infrastructure around the Bethel Community axis.

The Navy said its personnel uncovered an illegal refining site, two pits containing approximately 24,000 litres of suspected stolen crude oil and several hoses allegedly installed to facilitate crude oil theft.

‘The illegal facilities and associated materials were subsequently handled in accordance with extant regulations,’ the Navy said.

It added that the operation had disrupted an emerging crude oil theft network before it became fully operational.

In a separate operation, personnel of Nigerian Navy Ship (NNS) Pathfinder intercepted a speedboat carrying about 17,000 litres of suspected illegally refined Automotive Gas Oil (AGO) along the Onne/Okrika waterways.

The Navy’s Director of Information, Navy Captain Abiodun Folorunsho, said the operation was part of ongoing efforts to dismantle illegal petroleum activities within the area.

‘The recovered speedboat and the suspected illegally refined AGO were handled in accordance with extant anti-crude oil theft procedures, while efforts are ongoing to identify and apprehend those connected with the illegal activity,’ he said.

Folorunsho said the latest operations demonstrated the Navy’s commitment to disrupting the illicit petroleum supply chain and protecting the country’s oil and gas infrastructure.

‘The Nigerian Navy remains resolute in sustaining intelligence-driven operations under Operation Delta Sentinel to combat crude oil theft, illegal oil bunkering and other forms of economic sabotage, while safeguarding Nigeria’s maritime environment and supporting national economic security,’ he said.

The General Officer Commanding (GOC), 2 Division, Nigerian Army (NA), Major General Auwalu Mahmuda has instructed troops providing security for Osun State Off Cycle Gubernatorial Election to be professional and adhere strictly to the Code of Conduct for Election duty.

Major General Mahmuda made the call on Friday 7 August 2026 while addressing troops that will be supporting the Nigeria Police Force (NPF) for the election, at Engineer Construction Command (ECC), Ede, Osun State.

He underscored the critical nature of the task the Nigerian Army has placed on their shoulders, as part of their constitutional role in providing aid to civil authority.

He added that the exercise tagged ‘Operation SAFE CONDUCT’ will be in support of the NPF, which is the lead agency for the conduct of elections in Nigeria.

He, however, maintained that they are to provide outer cordon security, and only respond to situations when called upon to do so, stressing that they must stay away from polling units, and respond appropriately to any security threat.

The GOC stressed that the Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu expects nothing short of professional conduct by the troops, in support of the NPF.

He charged them to shun sentiments, or any form of bias, by ensuring that their actions and inactions are guided by Nigeria’s national interest, stressing the need for them to be disciplined and maintain a robust disposition, without harassing anybody throughout the period.

He charged the troops to act and behave as well-trained soldiers of the Nigerian Army, reassuring that all what they require for the seamless conduct of Operation SAFE CONDUCT have been provided, urging them to justify the confidence reposed in them.

The Major General used the opportunity to appeal ‘to the good people of Osun State to have confidence in the security arrangements put in place for the smooth conduct of the election. He reassured that nobody will be harassed, as the security arrangements put in place are essentially for the maintenance of law and order for the people to freely exercise their constitutional rights.’

Lagos State Deputy Governor, Kadri Hamzat, has assured traders and business owners at Alaba International Market, Ojo, that the state government will proceed with the reconstruction and expansion of roads within the market once ongoing drainage projects are completed.

Hamzat gave the assurance on Friday at the unveiling of the New Face of International Market Electronics Association, held at the Colonade Hotel, Ikoyi, where he reiterated the administration’s commitment to providing infrastructure capable of supporting commerce and improving the quality of life of residents.

He explained that the decision to complete the drainage network before reconstructing the roads was deliberate, noting that effective flood control was essential to protecting the durability of any new road infrastructure in the market.

According to him, significant progress has already been made on the drainage projects, which are intended to improve water flow and address the persistent flooding challenges affecting parts of the market.

‘We must make sure that we move water,’ Hamzat said, explaining that the drainage works behind the market were already about 70 per cent complete.

He added that road reconstruction would commence after the drainage works were completed, stressing that the road network would also have to be expanded to accommodate the growing population and commercial activities within the market.

The deputy governor said the government remained committed to working with market leaders and other stakeholders to transform Alaba International Market into a more functional and sustainable commercial centre.

He assured traders that infrastructure development would remain a priority, particularly projects capable of improving mobility, reducing flooding and creating a more conducive environment for businesses to operate.

Hamzat’s remarks came amid calls from market stakeholders for urgent rehabilitation of roads within the sprawling electronics market, one of Lagos’ major commercial centres.

Speaking at the event, Senator Uzor Orji Kalu commended the Lagos State Government for its efforts to rehabilitate critical infrastructure around Alaba International Market.

Kalu stressed that effective governance should be measured by the delivery of projects that directly affect the lives and businesses of citizens, while commending the administration for its infrastructure focus.

He also described Hamzat as a leader with extensive experience in infrastructure development and an understanding of Lagos’ developmental needs.

He expressed confidence that continued engagement with communities across the state would help identify priority projects and accelerate socio-economic development.

In his welcome address, the President-General of Alaba International Market Electronics Association, Chief Camillus Amajuoyi, described the New Face of Alaba initiative as a major effort to reposition the market and improve its operating environment.

Amajuoyi said the initiative was designed to transform Alaba into a cleaner, safer, digitally driven and globally competitive commercial hub, capable of competing with leading markets around the world.

He said the vision was aimed at promoting integrity, discipline, innovation and adherence to global best practices while preserving Alaba’s longstanding reputation as a centre of entrepreneurship and economic opportunity.

The market leader commended the Lagos State Government for its investments in infrastructure and urban renewal, as well as policies he said had contributed to creating an environment in which businesses could thrive.

He, however, appealed to the government to expedite the provision of a motorable road network within the market, stressing that improved roads were critical to the movement of goods, customers and business activities.

The Society Security Initiative (SSI) has commended President Bola Tinubu for approving a 30 to 80 per cent salary increase for members of the Armed Forces.

The group, in a statement on Saturday by its President, Abdulsalam Mohammed, described the approval as a significant morale booster capable of enhancing troops’ commitment and effectiveness in the ongoing fight against insecurity nationwide.

Mohammed said that improved welfare was critical to maintaining a motivated and professional military.

He said the salary review demonstrated the Federal Government’s appreciation of the sacrifices made daily by military personnel defending Nigeria’s territorial integrity and citizens.

According to him, improved remuneration would strengthen morale, boost productivity and encourage greater dedication among personnel deployed across various operational theatres.

He described the decision as evidence of Tinubu’s visionary leadership and understanding of the importance of troop welfare in national security management.

The SSI president said the salary increase would also improve the living conditions of officers and soldiers while strengthening their commitment to national service.

He commended the President for sustained investments in defence, including the acquisition of modern military equipment and policies designed to improve personnel welfare.

Mohammed also praised the Minister of Defence, retired Gen. Christopher Musa, for supporting policies aimed at improving the operational effectiveness and welfare of the Armed Forces.

He further commended the Chief of Defence Staff, Gen. Olufemi Oluyede, for his leadership in coordinating military operations against terrorism, banditry, kidnapping and other criminal activities.

The organisation’s leader expressed confidence that improved remuneration would further motivate troops to sustain operations against criminal elements and contribute to restoring peace in affected communities.

He urged military personnel to reciprocate the government’s gesture with renewed dedication, professionalism and patriotism in the discharge of their constitutional responsibilities.

He noted that a motivated and professionally equipped military remained indispensable to achieving lasting national security, stability and sustainable development. (NAN)

Lagos State Governor, Babajide Sanwo-Olu, on Saturday inspected a vandalised bridge pole along the Lagos-Badagry Expressway at Vin-Niger in Amuwo-Odofin Local Government Area, assuring residents that the incident had not compromised the structural integrity of the bridge.

Sanwo-Olu, who carried out an on-the-spot assessment of the affected section, said the bridge remained structurally sound and that the ongoing work on the facility had not been compromised.

The governor, however, disclosed that vandals had excavated and removed some fittings used to secure the bridge, describing the development as unacceptable and a threat to public infrastructure.

He vowed that the state government would pursue those responsible for the vandalism, including individuals involved in the purchase and sale of stolen public infrastructure materials.

Sanwo-Olu said the government would ensure that those found culpable were brought to justice, irrespective of their status or background.

He described the continued vandalism of public assets as shameful, particularly at a time when the state government was committing substantial resources to infrastructure development and rehabilitation across Lagos.

The governor also raised concerns about the vandalism of infrastructure in Festac Town, citing the destruction of drainage slabs and the removal of iron rods along Second and Seventh Avenues.

He urged residents to play an active role in protecting government infrastructure by reporting suspicious activities and individuals to the appropriate authorities.

‘When you see something, you should say something. Government is not going to be there 24/7. People should know that they also have a responsibility for themselves and for the government to speak out,’ he said.

Sanwo-Olu commended the Lagos State Police Command, Rapid Response Squad, Lagos State Neighbourhood Watch and members of the Kick Against Indiscipline for their prompt intervention and response to the vandalised section of the bridge.

He explained that the inspection formed part of his administration’s broader efforts to restore order along the Lagos-Badagry Expressway corridor, protect public infrastructure and improve the safety and appearance of the area.

Speaking to residents, traders and commuters during the inspection of Alaba Rago and Orile, the governor said considerable progress had been made in clearing and reorganising the Lagos-Badagry Expressway corridor.

He stressed that the administration would continue to protect public assets and take measures to ensure the safety of motorists, commuters, traders and other road users.

Sanwo-Olu further assured residents that his administration would sustain its collaboration with security agencies to combat vandalism, maintain law and order and create a safer environment for law-abiding residents across Lagos.

The governor’s inspection comes amid renewed concerns over the theft and destruction of public infrastructure, with the state government seeking greater cooperation from residents to prevent vandals from undermining ongoing development projects.