Category: PM News

The court also ordered the companies to pay N200, 000, 00 for each of the day they had committed the offence.

By Ayorinde Oluokun

A Federal High Court in Lafia Nasarawa State has ordered 21 companies to pay a fine of N30 million each for operating investment schemes without licenses from Security and Exchange Commission, SEC.

The presiding judge, Justice Anyalewa Onoja-Alapa gave the order after convicting each of the 21 companies on a one-count charge bordering on illegal operation, contrary to Section 57 (1) of the Banks and Other Financial Institutions Act of 2020 filed against them by Economic and Financial Crimes Commission, EFCC,

The Abuja Zonal Directorate of the EFCC filed the charge against the companies on September 15, and 16, 2026, Dele Oyewale, the spokesperson for the anti-graft agency said in a statement.

The companies are: Ngwuoke Daniels Technologies, ?Credio Banco Ltd; ?Digital Company Ltd; ?Co Request Capital Nigeria Ltd; ?Mega Drop Quality Stores Ltd; ?Norland Global Ltd; Oxford International; Creative Agriculture Cooperative; Qnet Nigeria Ltd; Qnet ProfessionAl Skill Academy Ltd and ?Mastermind Energy and Agro Nigeria Ltd.

Others are: Atus West Africa Investment Company; ?Eatrich360 Farms; ?Matag Agro General Services; Viables X Agribusiness Ltd; ?Kwakol Markets Ltd; ?Light Shade International Ltd; Value Growth Ltd; B12 Synergy Nigeria Ltd; ?Phresh Farm Ltd and Omega Pro Global Resources.

The charge against Megadrop Quality Stores Limited reads: ‘That you, Megadrop Quality Stores Limited, a body corporate, registered with the Corporate Affairs Commission, sometime in 2025, at Abuja within the jurisdiction of the Federal High Court of Nigeria, did engage in specialized business of other financial institution without valid licence to wit: advertising and operating a financial investment management without valid licence from the Securities and Exchange Commission; and you thereby committed an offence, contrary to Section 57(1) of the Banks and Other Financial Institutions Act, 2020 and punishable under Section 57(5)(a) of the same Act.’

The charge against Ngwuoke Daniels Technologies reads: ‘That you, Ngwuoke Daniels Technologies, a body corporate, registered with the Corporate Affairs Commission, sometime in 2025, at Abuja within the jurisdiction of the Federal High Court of Nigeria, did engage in specialized business of other financial institution without valid licence to wit: advertising and operating a financial investment management without valid licence by the Securities and Exchange Commission; and you thereby committed an offence, contrary to Section 57(1) of the Banks and Other Financial Institutions Act, 2020 and punishable under Section 57(5)(a) of the same Act.’

The representatives of all the companies were absent when the charges were read, and upon application by the prosecution counsel, Nasir Umar, the court entered a ‘not guilty’ plea on behalf of the companies and commenced trial.

The prosecution counsel relied on the witnesses and documents contained in the proof of evidence, in proving his case against the companies.

He further tendered intelligence reports, statements of the investigating officers, letters of investigation activities, response from CAC, and response from SEC in evidence against the companies.

Following the presentations of the prosecution counsel, Justice Onoja-Alapa convicted and sentenced the companies to N30 million fine each. In addition, she ordered them to pay N200, 000, 00 (Two Hundred Thousand Naira), for each of the day, they had committed the offence.

The companies were prosecuted following actionable intelligence available to the Commission that linked them to investment fraud and operating without license.

In the course of the investigations, the Commission invited the promoters of the companies for interrogation on December 22, 2022 and further interrogation on Thursday 12, January, 2023, which they all ignored. Over a period of five years, they evaded interrogation by the Commission, prompting the prosecution of the companies.

Popular Nigerian preacher and televangelist, Apostle Joshua Selman has revealed that he had a shocking vision involving the death and burial of a high-ranking politician in the country.

While speaking during a sermon, the apostle explained that he was sharing the vision so that God could comfort and prepare the politician’s family ahead of the tragedy.

Selman also claimed that nothing could be done to change what he described as the person’s impending death.

‘I don’t usually do this but I am seeing people gather to bury a high-ranking politician in this nation. His time is up. I am seeing him going. The reason why we announce this is so that God will comfort the family and prepare their hearts but there’s nothing that can be done. It’s time, it’s over. This is not impress, I don’t have that time,’ he stated.

Selman, however, did not identify the politician in the statement.

Businessman and politician Gbenga Olawepo-Hashim has argued that petrol could sell for N600 per litre in Nigeria without government subsidy if the pricing of crude allocated for domestic refining is properly structured.

Olawepo-Hashim, who reportedly made the submission during a September Diaspora Dialogues podcast, based his argument on figures from his experience as a crude oil producer and oil and gas business owner.

He maintained that the cost of petrol should be determined after taking into consideration expenses across the upstream and downstream sectors, as well as reasonable profit margins.

His position is that petrol should not cost more than N600 per litre at the pump, whether it is produced from locally refined crude or imported.

A major component of his argument is the need for Nigeria to allocate a portion of its crude production for domestic refining.

He argued that such crude should be sold to domestic refiners at a lower price than crude exported to the international market.

Olawepo-Hashim also cited the practice of other members of the Organisation of Petroleum Exporting Countries, which he said have arrangements for supplying crude to their domestic markets at prices different from those applicable to exports.

The argument effectively challenges the way Nigeria’s fuel pricing debate has traditionally been framed around the question of whether the government should retain or remove petrol subsidy.

Rather, Olawepo-Hashim wants the focus shifted to determining the actual cost of producing and distributing petrol in the country.

In a recent interview with Channels TV, Olawepo-Hashim has taken a similar position. He had said petrol should cost around ?500-605 based on actual domestic production costs plus reasonable margins and a modest energy tax. According to him the current high prices and the entire subsidy story were government-driven accounting fiction.

‘It’s not… It’s not magic. The truth of it is that the price is currently inflated,’ he had said.

The Presidential Candidate of the Nigeria Democratic Congress (NDC) Mr Peter Obi on Monday changed his stance on what he will do with petroleum subsidy if elected in 2027 at a town hall meeting in Sokoto.

The NDC presidential candidate had previously said he will not restore petroleum subsidy, but instead he will ensure that savings from the removal were deployed to meet the needs of Nigerians.

His position was contrary to that of the of Atiku Abubakar, the presidential candidate of African Democratic Congress, ADC who had repeatedly promised that he will restore subsidy on petrol if elected into office in 2027.

President Bola Ahmed Tinubu, the incumbent, who is also seeking re-election in the 2027 election had announced an end to payment of subsidy on petrol when he was being sworn in for his first term of office on 29 May, 2023.

Tinubu had also recently insisted that his administration will not restore payment of subsidy despite soaring petrol prices.

Instead, he said his administration will explore alternative means of energy to bring down the hardship associated with the rising petrol price on Nigerians.

But speaking at a town hall meeting organised for the Obi/Kwankwaso presidential ticket in Sokoto on Monday, Obi changed his stance on petrol subsidy with promise that he will restore it after his administration has successfully ended corruption in the country.

He said corruption remained the major challenge confronting Nigeria, adding that his administration, if elected, would tackle corruption across all sectors.

‘People are talking about subsidy but what is all about it is corruption. By removing the corruption, I assure you that we will bring back subsidy.

‘The problem of Nigeria is corruption, as such, if elected, we will stop all forms of corruption in every sector of the country,’ he said.

Obi urged Nigerians to use the 2027 general elections to vote for NDC candidates at all levels, saying it is a collective responsibility to address the country’s recurring challenges.

He said the party is committed to providing what he described as a ‘politics of care and service to Nigerians.’

The former Anambra governor also expressed concerns over the economic situation of Nigerians, promising to deploy the country’s resources to improve security, education and other sectors of the economy.

‘Education is our number one priority after unity and security,’ Obi said.

He also promised to connect all state capitals with railway lines to facilitate economic activities and boost development.

Also speaking, the NDC Vice-Presidential Candidate, Dr Rabiu Kwankwaso, said the visit was to meet with the people of Sokoto and seek their support and cooperation ahead of the 2027 general elections.

Kwankwaso, a former Kano State governor, said they had earlier visited the Sultan of Sokoto, where he prayed for the success of the Obi/Kwankwaso ticket and conveyed his goodwill.

He said although various parts of Nigeria were facing challenges, the North-West had become a major hotspot for banditry and kidnapping.

‘We are, therefore, committed to mitigating all these challenges and make Nigeria better,’ he said.

Earlier, the NDC governorship candidate in Sokoto state, Dr Shamsudeen Haido, pledged to provide good governance if elected in the 2027 elections.

The state Chairman of the party, Alhaji Bello Yabo, said the meeting provided an opportunity for residents to hear directly from Obi and Kwankwaso about their plans and vision for the country.

The Rivers State House of Assembly has endorsed the constitutional amendment bill seeking the creation of state police in Nigeria.

The development followed the transmission of the Constitution of the Federal Republic of Nigeria, 1999 (Sixth Alteration) Bill, 2026, by the National Assembly to the 36 state Houses of Assembly for consideration.

The bill is seeking constitutional backing for the establishment of state policing in Nigeria.

President Bola Ahmed Tinubu on Sunday said the Founder and Presiding Bishop of Living Faith Church Worldwide, Bishop David Olaniyi Oyedepo has made remarkable contributions to the moral and spiritual development of individuals and communities in Nigeria and globally.

The President said this in a statement issued to congratulate Bishop Oyedepo on his 72nd birthday on September 27.

In the statement signed by Bayo Onanuga, his spokesperson, President Tinubu said he joined the Oyedepo family, Living Faith Church Worldwide, the Christian community and millions of Bishop Oyedepo’s admirers in celebrating a life devoted to faith, service, leadership and human development.

The President acknowledged Bishop Oyedepo’s consistent emphasis on integrity, discipline, diligence, responsibility and excellence and longstanding advocacy for values that strengthen families, institutions, and nations, and his message of hope, purpose, and personal responsibility, which has resonated with people across Nigeria and beyond.

President Tinubu also commended Bishop Oyedepo’s significant contributions to education and human-capital development through institutions such as Covenant University and Landmark University, which have provided platforms for academic excellence, leadership development, entrepreneurship and innovation.

‘Bishop Oyedepo’s influence extends beyond the pulpit into education, publishing, leadership development and humanitarian service, with the Living Faith Church maintaining a significant international presence across Africa and other parts of the world.

‘For over four decades of ministry, Bishop Oyedepo has become a prominent Nigerian voice on faith, leadership, integrity, education and human development, with his books and teachings reaching audiences across national and continental boundaries.

‘Bishop David Oyedepo has devoted decades to preaching faith, promoting integrity and encouraging excellence, while investing substantially in education and the development of human capacity. His commitment to building lives, institutions and communities has given his ministry a significant national and international footprint.

‘I especially salute Bishop Oyedepo for the social-development initiatives, including schools, healthcare facilities, and humanitarian interventions, associated with his ministry and the David Oyedepo Foundation’s support for education and people in need.

‘On this auspicious occasion of his 72nd birthday, I celebrate his life of service and pray that Almighty God will continue to grant him wisdom, strength, good health and renewed grace as he advances the cause of faith, education, morality and human development.

‘I wish Bishop Oyedepo many more years of fulfilment, good health and continued service to God and humanity,’ President Tinubu said.

Four suspected members of the outlawed Indigenous People of Biafra (IPOB) were arraigned before Federal High Court, Abuja on Monday over their alleged involvement in the kidnapping and killing of a Department of State Services (DSS) officer, Ekpeyong Asuquo Owoh.

The defendants are Michael Okafor, a.k.a Onyechimeleze; Chinedu Chukwudozie, alias Kante; Chibunna Olisa; and Chigozie Olisa, a.k.a Ability were arraigned on a six-count charge bordering on terrorism and kidnapping by the DSS.

They were were arraigned before Justice Joyce Abdulmalik of a Federal High Court in Abuja

The prosecution alleged that the defendants conspired to commit acts of terrorism and were involved in the abduction of Owoh, an officer of the DSS, while he was travelling from Port Harcourt in Rivers to Awka in Anambra.

They were further accused of taking the operative hostage and causing his death in the course of the alleged criminal operation.

The suspects were also accused of belonging to the proscribed IPOB and its armed wing, the Eastern Security Network (ESN), as well as involvement in activities allegedly linked to terrorism.

In addition, the prosecution alleged that the suspects were involved in the unlawful possession of firearms, including AK-47 and pump-action rifles, in connection with the alleged offences.

The charges followed investigations into the circumstances surrounding the abduction and killing of the officer and the alleged activities of the defendants.

However, when the charges were read to them, they pleaded not guilty.

Munirat Oladunjoye, who appeared for the DSS, sought a trial trial.

Kelvin Ekwe, who appeared for the defendants, did not opposed the application.

Oladunjoye, however, informed the court that the prosecution had three witnesses that would give evidence during trial.

Justice Abdulmalik consequently adjourned the matter until Oct. 6 for commencement of trial.

The judge ordered that the four accused persons be remanded at the DSS custody.

The All Progressives Congress (APC) governorship candidate for Lagos in 2027 elections, Dr Kadri Hamzat has said he is the best person to succeed Governor Babajide Sanwo-Olu because of his understanding of the history and politics of the state.

Hamzat, who is also the current Deputy Governor of Lagos, said on Sunday at the 70th Harvest Anniversary and Thanksgiving Service of Cherubim and Seraphim Society, Olorunsogo Parish, Ese-Ofin, Lagos.

The Deputy governor affirmed that anyone who does not understand the history and politics of a state would find it difficult to govern effectively.

‘I know the people that have ruled this state before and if I have any problems on land issues, I know where to go.

‘Though nobody is perfect, I understand Lagos thoroughly,’ he said.

Hamzat urged Lagos residents to beware of politicians who make attractive promises during election campaigns.

‘Now we have come to campaign period, different politicians will come to you to canvass for votes, promising heaven and earth.

‘We in APC will not lie because we know the situation of things in the state.

‘Lagos is more important than being used for jokes. Today, Nigeria is collecting over 33 per cent GDP from Lagos.

‘So, the state cannot be taken for granted. We cannot just allow any inexperienced person to rule the state,’ he said.

The Deputy Governor said his experience in government had prepared him to lead the state.

‘I was working in New York in 2005 when President Bola Tinubu, then Governor of Lagos, visited the city.

‘He saw me while I was presenting a paper and invited me back home to join his government.

‘Since then, I have worked as Commissioner for Science and Technology, Commissioner for Works and currently as Deputy Governor of the state.

‘I understand the history and politics of Lagos,’ he said.

Hamzat also urged Nigerians to continue praying for the country, saying God had a purpose for creating them in Nigeria.

Dr Ibijoke Sanwo-Olu, wife of the Lagos State Governor, said she was delighted to celebrate the 70th Harvest Anniversary with church members.

‘I haven’t been here for over four years, but thank God I am here today to celebrate with you.

‘We are grateful to God for giving us someone like the Lagos State APC Chairman, Pastor Cornelius Ojelabi, who came from here,’ she said.

Rev. Esther Ajayi, Founder of Love of Christ Generation Church, urged Nigerians to continue praying for their leaders.

She prayed for God’s mercy, saying it was through His mercy that people could excel in life.

In his remarks, Ojelabi, Lagos State APC Chairman and senior apostle of the church, said the anniversary was organised to give back to society.

According to him, the celebration was divided into three parts, beginning with a Night of Praise on Friday.

‘To cap it up, we realised we are in a rural area and needed to encourage our people through medical check-ups.

‘So, that brought the idea of medical outreach on Saturday, and I’m so glad many people turned up for the programme. Today is the grand finale,’ he said.

Ojelabi urged Nigerians to draw closer to God and have faith in Him.

He also urged religious leaders to imbibe Christian values in their activities, saying people were watching them.

Traditional rulers, APC chieftains, Lagos State commissioners, local government chairmen and members of the Lagos State House of Assembly attended the anniversary.

It was excitement in Cross River on Monday as Gov. Bassey Otu on Monday presented cheques of N25 million each provided by the First Lady, Sen. Oluremi Tinubu, to 18 business owners affected by the recent fire incident at SPAR shopping mall in Calabar the state capital.

Governor Otu president the N450 million intervention to the beneficiaries at the Executive Chambers of the Governor’s Office, Calabar.

Presenting the cheques Otu described the intervention as a critical lifeline for the victims, and assured them of more support from his administration.

The governor said that while accidents were sometimes unavoidable, the most important consideration was how government responded to those affected.

‘I know that accidents happen, and there is sometimes little that anybody can do about them. The important thing is how we respond to such unfortunate situations,’ he said.

Otu expressed appreciation to the first lady for the intervention, describing it as a demonstration of compassion and practical support for people affected by the incident.

He said that the first lady visit to Cross River on Sept. 1, for the National Community Food Bank Programme had produced positive multiplier effects beyond the immediate purpose of the programme.

The governor also commended President Bola Tinubu for what he described as the people-centred focus of the Renewed Hope Agenda.

He said that the intervention would help to reduce the economic hardship faced by the affected families and urged the beneficiaries to use the funds productively.

Otu said that his administration remained committed to supporting small and medium-sized businesses, saying, ‘the informal sector remains the engine room of the state’s economy’

He encouraged entrepreneurs to take advantage of government-supported business advisory services, soft loans, and grants available through the ministry responsible for financing and enterprise development.

‘The doors of the M?ministry responsible for financing and enterprise development are always open to entrepreneurs seeking business advisory services, soft loans and grants,’ he said.

The SPAR Calabar branch manager, Mr Gbenga Ewarawon, thanked the first kady and Otu for their commitment to supporting the victims and restoring hope to the affected businesses.

Speaking on behalf of the beneficiaries, Mr Andifokan Samuel, expressed appreciation to the first lady, the Federal Government, the Cross River Government, and other stakeholders for the intervention.

Samuel said that the support would help the affected businesses to return to productive economic activity.

He described the intervention as a timely gesture that would help them to rebuild their businesses and livelihoods.

The Federal Road Safety Corps (FRSC) has deployed more than 170 ambulances across the country as part of efforts to strengthen emergency response and rescue operations on Nigerian roads.

The Corps Public Education Officer (CPEO), Mr Osondu Ohaeri, disclosed this on Monday in Abuja, while responding to questions on the operational capacity of the corps emergency ambulance network and its response to Road Traffic Crashes (RTCs).

Ohaeri said the FRSC had the largest number of ambulances among emergency response agencies in Nigeria, with more than 170 ambulances and 60 Zebra points across the country.

He said the figure should however not be interpreted as the number of ambulances currently operational or serviceable as of September 2026.

According to him, an accurate current figure of serviceable ambulances will require the latest fleet-status report from the corps medical and rescue office.

He explained that the figures demonstrated the scale of the corps emergency response network, while the availability of individual ambulances was managed operationally based on their location, condition and assignment.

On the adequacy of the ambulances for emergency rescue, he said the corps continued to maintain and deploy its assets as part of its emergency response responsibilities, stressing that the status of individual vehicles could vary depending on their operational condition and assignment.

The CPEO said the corps was also focused on improving its emergency response capacity, particularly by strengthening rescue deployment and collaboration with other relevant agencies.

He also said that the corps had historically recorded an average response time of about 15 minutes under its documented emergency-response programme.

He cautioned against presenting the figure as the current nationwide average without updated operational data.

According to him, response time varies depending on several factors including the location of a crash, traffic congestion, distance from the nearest ambulance point and accessibility of the crash scene.

He added that the accuracy and timeliness of information provided by callers could also affect the speed with which rescue teams reached crash scenes.

Other factors he said include the possibility of emergency teams responding to other incidents simultaneously.

Ohaeri stressed that the corps had identified faster response to road traffic crashes and other emergencies as one of its management priorities in 2026.

He said efforts were therefore ongoing to strengthen rescue deployment and inter-agency collaboration to improve emergency response to road crashes.

He added that the FRSC remained committed to improving emergency rescue operations, strengthening the deployment of its resources and working with relevant stakeholders to ensure better outcomes for road crash victims.

He reiterated that complaints concerning emergency response, evacuation, treatment of victims or other forms of alleged misconduct should be channeled through the appropriate authorities for investigation and necessary action.

The CPEO further assured that the corps would continue to strengthen its emergency response mechanisms as part of broader efforts to reduce the consequences of road traffic crashes and improve the safety of road users nationwide.