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The National Drug Law Enforcement Agency (NDLEA) has warned nightclub operators and fun seekers against the growing trend of organising, hosting, and attending drug parties, a disturbing fad gaining traction within social circles.

Femi Babafemi, NDLEA’s director of Media and Advocacy, issued the warning in a statement on Tuesday, describing such gatherings as illegal under Nigerian law.

‘Drug parties are illegal,’ Babafemi stated, adding that the agency will continue to clamp down on individuals and establishments promoting or enabling such activities.

Last Sunday, NDLEA operatives raided Proxy Night Club, located at 7 Akin Adesola Street, Victoria Island, Lagos, where they seized about 384.886kg of Loud and other illicit substances.

The operation led to the arrest of over 100 attendees, as well as the club owner, Mike Eze Nwalie Nwogu, popularly known as Pretty Mike, and his manager, Joachin Millary.

?According to the Agency, ‘any gathering organized for the purpose of consuming, distributing, or abusing illicit substances is an act of criminality.

‘These ‘drug parties’ contravene the explicit provisions of the NDLEA Act and will be treated as serious narcotic offences.

‘In the case of the drug party at Proxy night club, organisers went above board and had the audacity to produce and circulate flyers inviting fun seekers to come together to commit crime, an act that not only constitutes an incitement to commit crime but equally an affront to the law enforcement capabilities of the country if condoned.

?’Nigeria is currently grappling with a very high prevalence rate of drug abuse, particularly among our youths. These illicit drug parties do not only fuel the drug scourge but equally serve as hubs for new recruitment into drug addiction and actively undermine our current national efforts to safeguard public health and security. ‘In the recent case, the NDLEA was meticulous and professional throughout the processes leading to the raid and during the operation.

‘The operation followed intelligence gathered on the party, by undercover agents who conducted surveillance on the facility, made pre-purchases of illicit drugs from within the club.

‘For four hours between 11pm on Saturday and 3am on Sunday during the party, our operatives observed and recorded drug transactions and abuse going on before we eventually disrupted the brazen public display of illegality and made arrests. ‘All attendees initially arrested were later profiled, addressed, counselled and released within hours in custody, in line with best global practices while the two principal suspects: Pretty Mike and his manager, Joachin Millary remain in custody following the seizure of 384.882 kilograms of Canadian Loud, a strong strain of cannabis and other substances from the club’s store.

‘While the Agency will intensify surveillance and apply the full force of the law against perpetrators, owners of properties, hotels, and event centres found to be knowingly hosting such illegal activities risk the confiscation and forfeiture of their assets to the Federal Government.

‘Those held in custody in the ongoing case will face prosecution while we will file for forfeiture of the property, Proxy Night Club, in which the drugs were found.’

?The Agency, therefore, urges all patriotic Nigerians, parents, religious and community leaders, as well as concerned citizens to be vigilant, report such activities, and partner with the NDLEA in combating this threat to national well-being.

AXA Mansard Investments, a member of the AXA Group, has extended its financial literacy initiative to four public primary schools in Lagos, equipping pupils with basic money management and soft skills.

The initiative, carried out under the company’s flagship employee volunteering platform, AXA Hearts in Action (AHIA), saw staff of the firm engage pupils of Victoria Island Primary School, Awoyaya Primary School, Federal Housing Estate Primary School, and Ansar-Ud-Deen Primary School in interactive sessions on financial literacy, saving habits, and digital awareness.

Speaking during the outreach, Deji Tunde-Anjous, chief executive officer of AXA Mansard Investments, said the initiative was designed to instill the principles of responsible financial behaviour from an early age, while also inspiring confidence, curiosity, and a growth mind-set among young learners.

‘At AXA Mansard Investments, we believe that the earlier young people are introduced to financial literacy, the better equipped they will be to make smart money decisions in the future,’ Tunde-Anjous said. ‘Through our AXA Hearts in Action programme, our employees are taking meaningful steps to build a financially aware generation.’ He explained that the outreach was part of the company’s broader vision of creating lasting social impact through education and empowerment, adding that by introducing financial concepts early, children can grow into adults who are both financially responsible and forward-thinking.

Beyond classroom engagement, AXA Mansard volunteers also donated stationery and learning materials to the participating pupils, a gesture that underscores the company’s sustained commitment to supporting education and lifelong learning.

The exercise forms part of AXA Mansard’s purpose of ‘Acting for Human Progress by Protecting What Matters,’ a philosophy that highlights its belief in empowering young minds as a pathway to building stronger, more sustainable communities.

According to the company, the AXA Hearts in Action initiative has already impacted more than 5,000 people this year alone, with over 900 AXA Mansard employees participating in at least one volunteering activity across the country.

George Akume, Secretary to the Government of the Federation (SGF), has commended the Ministry of Marine and Blue Economy and the Nigerian Shippers Council (NSC) for their role in advancing Nigeria’s economic diversification through strategic logistics and maritime initiatives.

Akume gave the commendation on Tuesday in Jos, Plateau State, during the commissioning of a 250-capacity modern auditorium at the North Central Zonal Office of the NSC.

The new facility, named Sen. George Akume Hall, was constructed by the Council to deepen stakeholder engagement and promote maritime development across the region.

The SGF urged ministries, departments, and agencies to align their programmes with President Bola Tinubu’s economic diversification agenda, noting that the Ministry and the NSC have shown strong commitment to revitalising the country’s logistics and export systems.

He described the North Central region as a strategic hub for Nigeria’s diversification drive, given its abundant mineral resources and strong agricultural base. Akume noted that with improved logistics and transport infrastructure, the region could become a major contributor to non-oil exports.

‘With improved logistics infrastructure, this region can become a key driver of Nigeria’s diversification agenda,’ he said, adding that the government’s renewed focus on the marine and blue economy would unlock new opportunities for inland areas. He also commended Pius Akuta, executive secretary of the NSC, for his leadership in promoting efficiency, fairness, and innovation in port operations, and for bridging the gap between seaports and inland regions through the establishment of Inland Dry Ports and zonal coordination offices.

‘An economy where a farmer in Benue can ship produce seamlessly to Lagos Port, and an exporter in Jos can access global markets without unnecessary bottlenecks, is the kind of system we are building,’ the SGF said. Plateau State governor, Caleb Mutfwang, represented by his deputy, Josephine Piyo, lauded the Council for the project and commended the federal government for ongoing reforms aimed at improving trade and logistics efficiency.

In his remarks, Akuta attributed the Council’s progress to the support and autonomy provided by the minister of Marine and Blue Economy, pledging sustained commitment to export promotion and trade facilitation.

The event drew several dignitaries, including traditional rulers and business leaders, who praised the federal government’s efforts to strengthen economic transformation through the maritime and logistics sectors.

The Senate will on Wednesday screen the newly appointed Service Chiefs following President Bola Tinubu’s request for legislative confirmation.

Tinubu’s letter seeking the National Assembly’s approval was read by Senate President Godswill Akpabio during Tuesday’s plenary.

The President urged the lawmakers to give ‘expeditious consideration’ to the appointments, which he said were aimed at strengthening the country’s security architecture and improving coordination among the Armed Forces.

Those nominated for confirmation include General Olufemi Oluyede as Chief of Defence Staff, Major-General Waheedi Shaibu as Chief of Army Staff, Rear Admiral Idi Abbas as Chief of Naval Staff, Air Vice Marshal Kennedy Aneke as Chief of Air Staff, and Major-General Emmanuel Undiendeye as Chief of Defence Intelligence.

Akpabio announced that the screening and confirmation would be conducted by the Committee of the Whole, with proceedings scheduled for Wednesday.

The nomination follows a major shake-up in the military hierarchy announced by the Presidency on Friday.

In the statement, Tinubu expressed appreciation to the outgoing Service Chiefs, including General Christopher Musa, for their service and leadership, while charging the new appointees to justify the confidence reposed in them. ‘The President, Commander-in-Chief of the Armed Forces, expresses his profound appreciation to the outgoing Service Chiefs for their patriotic service and dedicated leadership.

‘He charges the newly appointed Service Chiefs to further enhance professionalism, vigilance, and comradeship that define the Armed Forces of Nigeria,’ the statement read. The restructuring in the top military ranks comes amid growing public concern over insecurity and speculation about internal tensions within the military.

However, there has been no official confirmation linking the changes to recent reports of an alleged coup plot.

Major-General Emmanuel Undiendeye, who serves as Chief of Defence Intelligence, is the only Service Chief who retained his position.

Djibouti’s parliament has voted to scrap the constitutional age limit for presidential candidates, a decision that could allow Ismail Omar Guelleh, the country’s long serving leader, to remain in power well into his eighties.

All 65 members of parliament present backed the amendment during a Sunday session in the capital. The current constitution states that anyone above 75 cannot contest the presidency, a rule that would have barred Guelleh, 77, from running again in the April 2026 election. The president must now decide whether to approve the change directly or call a referendum. A final parliamentary vote is expected on November 2 if he signs off. Guelleh, widely known as IOG, has ruled the tiny Horn of Africa nation since 1999. His government maintains strategic partnerships with global powers that operate military bases in Djibouti, including the United States, France, and China. The country sits at the mouth of the Red Sea, guarding a crucial trade route between Asia and Europe. That location has earned it a major geopolitical role despite its population of only one million people.

Dileita Mohamed Dileita, the National Assembly speaker defended the constitutional reform as a matter of national security and continuity. He argued that the region faces acute instability from conflicts in Somalia, Ethiopia, Eritrea, and Sudan, and insisted that more than 80 percent of Djiboutians support the modification. That figure could not be independently verified. Supporters say Guelleh has delivered stability in a dangerous neighbourhood. Critics warn that the latest move removes one of the last constitutional checks on presidential power. Human rights groups describe the vote as the latest step toward entrenched authoritarianism. Omar Ali Ewado, who leads the Djiboutian League for Human Rights, said the amendment clears the way for a presidency for life and called instead for a democratic and peaceful transition of power. ‘This revision prepares a presidency for life,’.

Djibouti continues to rank poorly on measures of freedom of expression and press liberties, and opposition voices often struggle to organise. The amendment marks a shift from reforms introduced by Guelleh himself in 2010. Term limits were removed at the time, but individual terms were shortened from six to five years and the age ceiling was introduced. Elections since then have seen overwhelming victories for the incumbent, including more than 97 percent of the vote in 2021 after opposition parties boycotted the poll.

Guelleh has remained ambiguous about whether he will run again. In an interview earlier this year he said he loved his country too much to risk divisions, a statement seen by many as a signal that he intends to stay.

‘All I can tell you is that I love my country too much to embark on an irresponsible adventure and be the cause of divisions,’ he said.

If he does, he will continue to rank among Africa’s longest serving leaders, behind Yoweri Museveni in Uganda and Isaias Afwerki in Eritrea.

Guaranty Trust Holding Company Plc (GTCO) for the nine months ended September 30, 2025, reported that higher yields and sustained asset growth pushed net interest income up by 22 percent to N952.1 billion from N781.5 billion in the same period last year.

This was driven by an expansion in loans and advances to customers and increased returns from investment securities. Interest income from customer loans surged to N450.8 billion, while investment securities contributed N547.8 billion.

Interest expense, however, rose sharply by 40 percent to N278.7 billion from N198.9 billion, largely on account of the higher cost of deposits and borrowings amid tighter monetary conditions. Consequently, net interest income settled at N952.1 billion, underscoring GTCO’s ability to maintain strong margins despite funding cost pressures. Loan impairment charges increased modestly to N69.8 billion from N63.6 billion, reflecting cautious provisioning amid macroeconomic volatility. After impairments, net interest income stood at N882.3 billion.

Non-interest revenue was buoyed by a 17 percent rise in fee and commission income to N210.5 billion, supported by increased digital and e-banking transactions across Nigeria and its African subsidiaries. Trading gains on financial instruments grew to N77.2 billion from N60.3 billion, though other income plunged to N85.8 billion from N577.4 billion, mirroring the normalisation of FX revaluation gains recorded in 2024.

Operating expenses expanded significantly to N365 billion from N294 billion, driven by personnel, depreciation, and general administrative costs. Profit before tax declined 26 percent to N900.8 billion, up from N1.22 trillion, while income tax expenses rose to N201.2 billion. The bottom line closed at N699.6 billion, with earnings per share dropping to N20.71 from N38.41.

However, the group’s after-tax profit declined 36 percent to N699.6 billion from N1.09 trillion, reflecting moderated foreign exchange gains and elevated operating costs. GTCO’s balance sheet remained resilient, with total assets rising 13 percent to N16.66 trillion as at September 2025, compared to N14.80 trillion at the end of December 2024. The growth was underpinned by expansion in loans and investment securities.

Customer deposits grew 18 percent to N11.85 trillion from N10.01 trillion, reinforcing GTCO’s strong deposit franchise. Loans and advances to customers rose to N3.24 trillion from N2.79 trillion, reflecting cautious credit expansion in key markets. Investment securities held at amortised cost and FVOCI collectively increased to N4.90 trillion from N4.15 trillion, indicating strategic allocation to yield-generating assets.

On the liability side, total obligations climbed to N13.29 trillion from N12.08 trillion, driven by customer deposits and short-term borrowings. Shareholders’ funds improved to N3.37 trillion, from N2.71 trillion at the end of 2024, supported by retained earnings and new capital issuance of N161.3 billion.

Operating activities generated a net inflow of N1.40 trillion, reflecting strong earnings and customer deposit mobilisation. Interest receipts amounted to N1.27 trillion, while interest payments totaled N310.6 billion. Investing activities, however, consumed N809.1 billion, primarily due to higher acquisition of investment securities (N2.64 trillion) and capital expenditure of N131.7 billion. Financing activities recorded an outflow of N226.4 billion, impacted by dividend payments of N239.9 billion and share buybacks of N17.1 billion, partly offset by new share issues.

Overall, GTCO closed the period with N4.50 trillion in cash and cash equivalents, slightly up from N4.29 trillion in the prior year period.

Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has announced that under the new tax laws, state governments will, from 2026, retain 100 percent of collections from the Electronic Money Transfer Levy (EMTL) as part of efforts to strengthen subnational revenues.

Oyedele disclosed this on Tuesday in Abuja during his keynote address at the launch of the 2025 State of States report.

He explained that the new law also provides tax exemptions for state government bonds, a measure he said would help lower borrowing costs and stimulate fiscal sustainability.

According to him, 21 states currently depend on federal allocations for at least 70 percent of their revenues, underscoring that FAAC dependency has deepened in the past year.

‘States such as Lagos, Ogun, Kwara, Anambra, and Edo continue to show relative fiscal resilience,’ Oyedele said. ‘However, the real test of progress lies in whether states can convert the current revenue windfalls into sustainable fiscal space and deploy resources judiciously to deliver shared prosperity.’

He added that the new tax reforms would significantly increase states’ allocations from the Value Added Tax (VAT) pool beginning next year, as one-third of what previously accrued to the federal government would now go to the states.

‘From 2026, states will no longer share the Electronic Money Transfer Levy with the federal and local governments, it will belong entirely to them. In addition, state government bonds will be exempted from tax, helping to lower borrowing costs. There are also other measures to help states build capacity and close existing tax gaps.

‘So, we have more reasons to be optimistic about subnational governments, but perhaps even more reasons to demand better performance,’ he said.

Oyedele also stressed the need for state governments to shift focus from recurrent spending to productive investments, lamenting that many states continue to prioritise overhead costs over critical investments in education, health, and infrastructure.

‘States implemented only two-thirds of their education budgets, spending less than ?7,000 per citizen. In health, it’s even worse, with implementation at just 62 percent, amounting to ?3,500 per citizen,’ he said.

‘This is the uncomfortable truth. Too many states are still prioritising recurrent expenditure and uncontrolled overheads over classrooms, clinics, and rural access roads. No society can prosper when its people are unskilled and unhealthy.’

He noted that states prioritising infrastructure, productivity, and human development tend to rise in the fiscal performance ranking, while those focused on wasteful spending continue to fall behind.

Despite fiscal expansion, he warned that poverty remains a major challenge, saying growth must become more inclusive. ‘To address this paradox in Nigeria’s development story, fiscal expansion must prioritise human development. More revenue must translate into greater prosperity for the people. We need deeper revenue reforms and a rethink of fiscal federalism,’ Oyedele said.

He explained that although 85 percent of the nation’s resources are assigned to subnationals under the constitution, the challenge lies in optimising existing allocations and ensuring that spending translates into real value for citizens.

‘States must harmonise taxes and streamline revenue collection processes. They should digitise collections and invest in the informal economy, not overtax vulnerable citizens. States should enact tax harmonisation laws to eliminate multiple levies like bicycle tax, TV and radio licences, and wheelbarrow taxes,’ he added.

In his remarks, Oluseun Onigbinde, global director at BudgIT, said the State of States report was founded on the belief that every kobo allocated to citizens should be traceable, justified, and used to improve livelihoods.

He noted that Nigeria has moved from an era where most states had budget surpluses and strong macroeconomic fundamentals to a situation where 28 out of 36 states now struggle to meet salary and operating expenses.

Onigbinde said the nation stands at a crossroads, with inflation rising faster than household earnings, debt obligations expanding faster than revenue growth, and many states still relying excessively on federal allocations instead of building resilient local economies. ‘The gap between potential and performance remains wide. Today’s conversation is not about winners and losers but about collective responsibility, making governance more sustainable and people-centred, ensuring that children can learn in safe classrooms, small businesses can thrive without excessive taxation, and healthcare is accessible to all,’ he said.

He added that the State of States report is a public resource and a roadmap for reform, reminding policymakers that Nigeria’s prosperity must be driven by all states, not just Abuja.

‘We have witnessed remarkable improvements since this journey began, from when only five states published budgets to now, where transparency has become a competitive advantage. Governors now await, sometimes anxiously, to see where they stand. Citizens have stronger voices, and data has become a lever for accountability.

‘We celebrate that progress sincerely. We did not start by seeking to build transparency in subnational governments; we want to be clear that they had a strong fiscal base. As the title of this report reflects, we have gone through phases of growth, decline, and middling performance,’ Onigbinde said.

The West African Examinations Council (WAEC) has denied circulating claims that it issued a directive restricting senior secondary school students to specific subjects for the 2026 West African Senior School Certificate Examination (WASSCE) for school candidates.

In a statement released on Tuesday by Moyosola Adeshina, acting head of Public Affairs, on behalf of the Head of National Office, WAEC described the reports as ‘unfounded assumptions’ and urged schools and the public to disregard them.

Reacting to recent social media rumours alleging that schools had been instructed to reduce students’ subject combinations for the 2026 examination, WAEC reaffirmed that the claims were false and did not originate from the Council.

The examination body clarified that it does not have the authority to issue directives on the creation or modification of senior secondary school curricula, noting that such responsibility rests solely with the federal government through the appropriate educational agencies.

‘WAEC wishes to categorically distance itself from this unfounded assumption and the information making the rounds on the said subject. The Council did not issue any such directive(s) nor restrict the choice of students to offer any particular subject(s) for WASSCE (SC) 2026 as alleged,’ the statement read.

The Council stressed that its responsibility is confined to administering examinations based on government-approved curricula, operating strictly within the legal and administrative frameworks established by the Nigerian government. ‘The development and regulation of Curricula in Nigeria is within the purview of the Federal Government. WAEC, as an examination body, only comes in to implement government policies via assessment.

‘Schools, stakeholders, and the general public are hereby advised to disregard the misleading reports and rely solely on official communications from the Council for accurate information regarding examination guidelines for WASSCE (SC) 2026,’ it added. The Council also assured all stakeholders that any amendment to the curriculum would go through proper channels and would never be introduced arbitrarily.

The Council reiterated its commitment to professionalism, excellence, and fairness in the assessment of all candidates, assuring that no student would be unfairly treated in the forthcoming examination.

Gbenga Komolafe, commission chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on Tuesday met with Chuba Ezenwa, managing director and head of Investment Banking, Sub-Saharan Africa, Bank of America, as part of efforts to attract investments and boost oil production.

Komolafe, who hosted Ezenwa in his office, said the engagement aligns with the Petroleum Industry Act (PIA) 2021, particularly Section 6(h), which mandates the Commission to promote an enabling environment for investment in upstream petroleum operations and the development of Nigerian content in the industry.

In a statement issued by Eniola Akinkuotu, head of Media and Strategic Communications at NUPRC, Komolafe noted that although Nigeria’s oil production has increased in the past year, funding remains a major challenge for companies seeking to scale up operations.

He, therefore, urged Bank of America to prioritise Nigeria’s upstream sector in its investment portfolio.

‘Nigeria is richly endowed with hydrocarbon and we seek to optimise production. But funding is critical to our success. So, we are looking for areas of alignment with the Bank of America,’ Komolafe said. In his remarks, Ezenwa said the rise in production was a reflection of Komolafe’s visionary leadership.

‘I am encouraged by the reforms under the leadership of the CCE as well as the results in the area of production which has sparked interests in Nigeria’s upstream. We will continue to provide support,’ the Bank of America representative said.

Steve Omanufeme, Managing Director of Independent Newspapers, has called on leaders in the country to prioritise human capital investment, infrastructure development and strategic planning for national economic growth.

‘Visionary leaders must prioritise education, innovation, and accountability. Leadership should serve the people, not self-interest,’ Omanufeme said during the Ozoro Progress Union (OPU) delegates’ conference with the theme ‘One Heritage, One People, One Destiny’, held in Lagos for indigenes of Ozoro Kingdom of Delta.

Omanufeme, who received an award for dedicated service at the conference, noted that responsible and effective leadership would create vision, build strong institutions, and invest in human capital.

Speaking on the topic, ‘Purposeful Leadership: A Tool of Economic Empowerment and Political Emancipation’, Omanufeme said purposeful leadership remains vital for community and national development.

Anthony Uvietobore Ogbogbo, the Ovie of Ozoro Kingdom (traditional ruler), called for unity among the people of Ozoroland to drive peace, prosperity and development. According to him, the two-day conference was to renew the peoples’ energy and revive their spirit for unity, progress and togetherness.

‘Development can only thrive in an atmosphere of peace and unity. It may not be easy, but there is a silver lining ahead. We will get there. Once there is no unity among a people, they cannot succeed in anything,’ said Ogbogbo encouraging the people to push ahead.

Stanley Egware, President, OPU, Lagos Chapter, said the delegates’ conference aimed at fostering unity and development among Ozoro people nationwide. According to him, the theme reflects the community’s commitment to shared values and collective progress.

He also disclosed that the delegates’ conference hosted hope to reorientate and redirect the mindset of the Ozoro people on leadership. ‘Leadership should be selfless, should be about empowering the people economically and emancipating the people politically.

‘One heritage speaks about our common brotherhood, reminding us that though we may be from different parents, we trace our roots to one ancestor, Opute, the founder of Ozoro,’ he said.