Standard Bank Closes $250m Strategic Financing for Aradel Energy

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28/01/2026

Stanbic IBTC Capital Limited, Stanbic IBTC Bank Limited and The Standard Bank of South Africa Limited have successfully achieved financial close on a landmark $250 million financing facility for Aradel Energy Limited.

The facility was structured to support Aradel Energy’s strategic growth agenda, including the acquisition of an additional 40% equity interest in ND Western Limited from Petrolin Trading Limited, the refinancing of existing loan facilities, and the funding of increased production from the Company’s existing asset base.

Aradel Energy is a wholly owned subsidiary of Aradel Holdings Plc and the operator of the Ogbele and Omerelu onshore marginal fields, as well as OPL 227 in shallow water terrain. Prior to the transaction, Aradel Energy held a 41.67% equity interest in ND Western. Following the completion of the acquisition, its shareholding in ND Western has increased to 81.67%.

ND Western holds a 45% participating interest in OML 34 and a 50% equity interest in Renaissance Africa Energy Company Limited.

Renaissance is the operator of the Renaissance Joint Venture and a 30% owner of one of Nigeria’s largest and most strategic energy portfolios. As a result of the transaction, Aradel Energy’s indirect equity interest in Renaissance has increased to 53.3%, significantly strengthening the company’s upstream position and long-term value creation potential.

Standard Bank acted as Global Coordinator and Bookrunner, leading the structuring, execution, and funding of the facility. The transaction affirms the Bank’s deep sectoral expertise and reinforces its position as a leading financier in Africa’s energy industry.

Eric Fajemisin, Executive Director, Corporate and Transaction Banking, Stanbic IBTC Bank stated: “As Aradel Energy consolidates its position as one of Nigeria’s leading oil and gas companies, Stanbic IBTC Bank is proud to serve as a trusted long-term partner supporting the Company’s growth ambitions.”.

“The transaction illustrates Standard Bank’s ability to deliver large-scale, tailored funding solutions and further demonstrates our support to the fast-growing indigenous companies of Nigeria’s oil and gas sector,” added Cody Aduloju, Regional Head, Energy & Infrastructure Finance, West Africa at Standard Bank.

Commenting on the transaction, Adegbite Falade, Chief Executive Officer of Aradel Holdings Plc, stated: “The acquisition bolsters Aradel Energy’s competitive positioning across Nigeria’s oil and gas value chain and supports our commitment to strategic growth, asset optimisation, and enduring value creation. We are pleased to have partnered with Standard Bank, who supported us and delivered a fully funded solution under very tight timelines.”

This transaction reinforces Standard Bank Group’s commitment to providing strategic capital to clients as they execute on their transformative growth objectives.

By delivering tailored financing solutions that enable sustainable value creation, the Bank remains a trusted partner to leading corporations across Africa’s evolving energy landscape.

First Asset Management Receives Upgraded Ratings from Agusto & Co, DataPro

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26/01/2026

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First Asset Management, a subsidiary of FirstHoldCo Plc has recorded a significant milestone as its rating was upgraded to ‘AA’ from ‘AA-’ by DataPro, reflecting the firm’s strong fundamentals and sustained resilience in Nigeria’s Asset management landscape.

The rating upgrade, issued in DataPro’s latest rating report, underscores First Asset Management’s diversified income base, high-quality investment portfolio, and experienced team, all of which continue to support the firm’s long-term stability, sound governance framework, and consistent performance.

The improved rating highlights the organisation’s ability to maintain strong operational fundamentals while effectively navigating market cycles. It further reflects First Asset Management’s disciplined investment philosophy, prudent risk management practices, and commitment to delivering value-driven solutions to its clients.

Speaking on the upgrade, Ike Onyia, Managing Director/CEO of First Asset Management, stated, “We are pleased with DataPro’s decision to upgrade our rating to ‘AA’. This recognition affirms the depth of our investment expertise, and the consistency of our governance and risk management processes. We remain focused on sustaining strong performance while delivering reliable investment outcomes for our clients.”

In a related development, Agusto & Co. has upgraded the rating of the First Asset Money Market Fund to ‘Aa-(f)’ from ‘A+(f)’, further reinforcing the strength of First Asset Management’s product offering.

According to Agusto & Co., the upgraded rating reflects the fund’s consistent low exposure to interest rates and liquidity risks, as well as the fund manager’s commendable professionalism and prudent investment approach. The rating affirms First Asset Money Market Fund’s position as a formidable investment vehicle for capital preservation and steady income generation.

First Asset Management continues to maintain a strong position within Nigeria’s asset management industry, supported by its disciplined investment framework, experienced investment professionals, and a growing suite of products designed to meet the evolving needs of retail and institutional investors.

DataPro and Agusto & Co. are both recognized leaders in ratings and investment research in Nigeria, with extensive experience providing independent assessments across multiple sectors. Their ratings are widely accepted as benchmarks for evaluating financial strength, risk management, and business sustainability.

About First Asset Management

First Asset Management is a leading Nigerian investment manager within the FirstHoldCo Group. The firm has evolved into a full‑service investment platform, offering integrated wealth and portfolio solutions across the Group.

First Asset Management manages diversified strategies spanning fixed income, equities, alternatives, passive and quantitative products, in multiple currencies for a variety of individual, intermediary and institutional clients.

Our approach prioritizes understanding client goals and risk profiles, supported by deep research, strong expertise and modern technology to deliver disciplined investment management and value‑driven insights.

With over 15 years experience, First Asset Management has built a solid record of long‑term value creation and reliable partnership through evolving market conditions.

SERAP Sues Adelabu, NBET over ‘Failure to Account for Missing N128bn in Power Ministry’

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25/01/2026

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Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Minister of Power, Mr. Adebayo Adelabu and Nigerian Bulk Electricity Trading Plc (NBET), Abuja “over the failure to account for the missing or diverted N128 billion of public funds from the Ministry of Power and NBET.”

The grave allegations are documented in the latest annual report published by the Auditor-General on 9 September 2025. Corruption contributes significantly to the frequent grid collapses, as Nigerians last week witnessed the first grid collapse of 2026, plunging the country into darkness.

In the suit number FHC/ABJ/CS/143/2026 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel Mr. Adelabu and NBET to account for the missing or diverted ₦128 billion from the ministry of power and NBET.”

SERAP is also seeking: “an order of mandamus to direct and compel Mr Adelabu and NBET to disclose details of how the missing or diverted ₦128 billion was spent including the dates of disbursement and the purported beneficiaries or contractors, who received the money as well as their registered business names and addresses.”

SERAP is seeking: “an order of mandamus to direct and compel Mr Adelabu and NBET to disclose the full names, official designations, and offices of all public officers who authorized, approved, or otherwise participated in the release of the missing or diverted ₦128 billion in the ministry of power and NBET.”

In the suit, SERAP is arguing that: “Nigerians continue to pay the price for the widespread and grand corruption in the power sector. There is a legitimate public interest in ensuring justice and accountability for these grave allegations.”

SERAP is also arguing that, “Granting the reliefs sought would contribute to tackling corruption in the power sector and addressing the persistent breakdown of transmission lines in the country, as well as improving access of Nigerians to regular and uninterrupted electricity supply.”

SERAP is arguing that, “granting the reliefs sought would also strike a blow against the impunity of those responsible for the missing or diverted public money meant to provide Nigerians with access to regular and uninterrupted electricity supply.”

According to SERAP, “Ordinary Nigerians continue to pay the price for corruption in the electricity sector–staying in darkness, but still made to pay crazy electricity bills.”

The lawsuit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Kehinde Oyewumi, and Andrew Nwankwo, read in part: “These grim allegations by the Auditor-General suggest a grave violation of the public trust, the Nigerian Constitution 1999 [as amended] and international anticorruption standards.”

“According to the recently published 2022 audited report by the Auditor-General of the Federation, the Federal Ministry of Power failed to account for over N4.4 billion [N4,404,647,938.53] ‘transferred to Mambilla, Zungeru and Kashimbilla project accounts by the Ministry.’”

“There was ‘no evidence of how the funds were expended.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.”

“The Ministry also paid over N95 billion [N95,415,183,701.83] to ‘some contractors for various projects.’ But ‘there was no document on the payments, and no evidence that the projects existed and were executed.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered.”

“The Ministry paid over N33 million [N33,557,959.00] ‘for foreign travels’, but ‘without any approvals.’ The money ‘was paid as estacode, flight tickets, visa fees and other allowances to enable the minister and his aides to attend the World Utilities Congress at Abu Dhabi and Huawei innovation land exhibition in Dubai.”

“The travels ‘were never approved by the Secretary to the Government of the Federation or the Head of Civil Service.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.”

“The Ministry failed to account for over N230 million [N230,795,255.27] being ‘expenditure on the GIGMIS platform.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.”

“The Ministry also paid over N282 million [N282,672,576.53] as ‘non-personal advances to various staff of the ministry for the procurement of goods and services.’ But the ‘payments were beyond the statutory threshold of N200,000.00.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered.”

“The Nigerian Bulk Electricity Trading Plc., (NBET) Abuja also ‘irregularly awarded contracts for over N427 million [N427,491,866.16]. There was ‘no evidence of advert placements in the procurement journal’.”

“The Auditor-General fears ‘the contracts may have been awarded to incompetent contractors’, resulting in ‘loss of government funds.’”

“NBET ‘irregularly transferred over N7 billion [N7,620,840,000.00] into purported sub-accounts of unnamed beneficiaries.’ There was also ‘no authority for such payment, contrary to the Financial Regulations.’”

“NBET claimed it paid over N9.3 billion [N9,336,986,697.17] to Egbin Power PLC ‘as outstanding payment on GenCos for Power Sector Reform Programme.’ But there ‘was no document to authenticate the genuineness of the transactions.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered.”

“NBET paid over N8 billion [N8,027,355,487.20] ‘to some beneficiaries’ but ‘without entering the transaction into the payment vouchers register and the vote book.’ The Auditor-General fears ‘the money may have been diverted and misapplied.’ He wants the money recovered and remitted to the treasury.”

“NBET also reportedly ‘awarded contracts of over N420 million [N420,665,525.65] to eleven ineligible consultants.’ The payments ‘were for various consultancy services such as technical support on power plant capacity testing of 5 power plants.’ But there was ‘no evidence that the services paid for were rendered.’”

“The ‘engagement of the consultants also failed to meet due process as required by the Procurement Act.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.”

“NBET also failed to account for ‘payments of over N45 million [N45,851,647.92] as contingency, logistics and security charges for six contracts.’ The payments were ‘made without any application from the contractors and without any approval.’”

“There was ‘no breakdown of the expenditure’. The Auditor-General fears ‘the money may have been diverted’ or the payments ‘may be for work not done.’ He wants the money recovered and remitted to the treasury.”

“NBET spent over N61 million [N61,775,659.75] from the capital vote on consultancy services but without any provision made for it in the approved capital budget of the company.’ The ‘payments were also made without any approval for virement.’ The Auditor-General fears ‘the money may have been diverted’ or ‘may have been misapplied.’ He wants the money refunded to the treasury.”

“NBET also ‘irregularly awarded contract of over N39 million [N39,661,081.83] for the supply and installation of a video conferencing solution to the NBET office.’ But ‘there was no evidence of any work done.’”

“The same contract ‘was re-awarded to another contractor without any open competitive bidding, such as advertisement, quotations, and financial bid evaluation.’ There was also ‘no evidence that any job was completed.’’”

“NBET ‘paid over N49 million [N49,995,000.00] for the supply of three units of Toyota Corolla, 2019 model’, but the contract was awarded without any approval.’ There was ‘no Bureau of Public Procurement approval, minutes of tenders board approvals and technical and financial evaluation reports.’”

“NBET also ‘paid over N8 million [N8,744,186.05] as legal fees to a legal practitioner.’ But the payment was ‘without the approval of the Minister of Justice and Attorney General of the Federation.’”

“NBET also ‘irregularly paid over N8.9 million [N8,928,000.00] for the professional development program of five officers working in the organization.’ The payment ‘was made as reimbursement of the balance of the course fee.’ The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered.”

“NBET also spent over N1 billion [N1,100,279,895.20] ‘as extra-budgetary spending’, but without any approval from the Minister of Finance and the National Assembly.’ The Auditor-General fears ‘the money may have been misappropriated and misapplied.’ He wants the money refunded and remitted to the treasury.”

“NBET also ‘paid over N110 million [N110,556,502.00] to companies and retail supermarkets for staff to pick items and promotion packages for Easter and Salah between 2021 and 2022.’ The payments ‘were made without any document.’’”

“Section 13 of the Nigerian Constitution imposes responsibility on the ministry of power and NBET to conform to, observe and apply the provisions of Chapter 2 of the constitution. Section 15(5) imposes the responsibility on the ministry and NBET to abolish all corrupt practices and abuse of power.”

“Article 26 of the UN Convention against Corruption which Nigeria has ratified requires the ministry of power and NBET to ensure ‘effective, proportionate and dissuasive sanctions’ in cases of grand corruption.”

“Article 26 complements the more general requirement of article 30, paragraph 1, that sanctions must take into account the gravity of the corruption allegations.”

No date has been fixed for the hearing of the suit.

NGX Group, Lagos State, HEI Expand Project BLOOM to Alimosho, Building on Measurable Social Impact

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25/01/2026

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Nigerian Exchange Group Plc (NGX Group), in partnership with the Lagos State Government and the Health Emergency Initiative (HEI), has extended Project BLOOM (Bringing Life to Our Overlooked Minors) to Alimosho Local Government Area, continuing efforts to address child malnutrition in underserved communities across Lagos State.

The third outreach under the initiative, held in Alimosho within Lagos State Health District I, reached over 120 malnourished children, providing nutritional support, medical screening, and caregiver education.

This follows earlier interventions in Yaba and Ajegunle, which have collectively supported over 320 children and 300 caregivers, with monitoring data showing that more than 50% of beneficiaries in the first two phases entered recovery.

NGX Group staff volunteers worked alongside Lagos State health workers and HEI facilitators during the outreach, assisting with screenings and data recording. Structured follow-up visits are scheduled after four weeks to monitor recovery and provide extended care where necessary.

Temi Popoola, Group Managing Director and CEO of NGX Group, linked the initiative to broader economic resilience.

“Sustainable capital markets are built on strong social foundations,” he stated. “The recovery rates we see with Project BLOOM prove that targeted, collaborative action between the public sector, civil society, and the private sector can deliver tangible impact.”

Executive Director of HEI, Achunine Pascal, said child malnutrition remains a major contributor to under-five mortality in Nigeria, adding that Project BLOOM is designed to go beyond immediate food support through structured follow-up and continued care.

Also speaking, the Chairman of Alimosho Local Government Area, Honourable Akinpelu Ibrahim Johnson, said the initiative supports the council’s long-term strategy for improving child nutrition through early detection, prevention, and effective management of malnutrition.

Representing the Permanent Secretary, Lagos State Health District I, Dr. Solomon Adeyanju commended NGX Group for its commitment to child health, describing Project BLOOM as a valuable complement to the state’s primary healthcare efforts.

With additional outreaches planned, the partners reaffirmed their commitment to reducing preventable child mortality while strengthening the social foundations required for sustainable economic growth.

NDIC, EFCC Strengthen Collaboration to Enhance Asset Recovery, Prosecution of Bank Failure Offences

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25/01/2026

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L-R: MD, Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday receives a commemorative plaque from the Chairman of Economic & Financial Crimes Commission (EFCC), Mr. Olanipekun Olukoyede during the NDIC Management’s visit to EFCC Headquarters in Abuja.

The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to strengthening collaboration with the Economic and Financial Crimes Commission (EFCC) to enhance the recovery of failed banks’ assets and debts as well as the investigation and prosecution of persons who contribute to the failure of banks.

The Managing Director and Chief Executive of the NDIC, Mr. Thompson Oludare Sunday, made this known during a courtesy visit by the Management of the Corporation to the Executive Chairman of the EFCC, Mr. Olanipekun Olukoyede, at the Commission’s Headquarters in Abuja. The delegation included the Executive Director, Corporate Services, Mrs. Emily Osuji, the Executive Director, Operations, Dr. Kabir Katata, as well as other key Directors of the Corporation.

Sunday explained that effective collaboration with the EFCC is critical to the successful liquidation of failed banks, which involves asset realisation and debt recovery, the proceeds of which are applied to the payment of uninsured deposits. He noted that addressing cases of asset stripping and concealment of assets requires close partnership with the EFCC through enhanced asset tracing, recovery and enforcement actions. He also identified areas of collaboration in the Corporation’s efforts in addressing banking fraud and financial crimes in the banking system and the prosecution of individuals who contribute towards bank failure.

Sunday emphasised that, through the effective implementation of its four core mandates of Deposit Guarantee, Bank Supervision, Distress Resolution and Bank Liquidation, the NDIC contributes significantly to ensuring the stability of the financial system.

He added that the ultimate objective of the Corporation is the protection of depositors’ funds, prompt payment of depositors in the event of bank failure and strengthening public confidence in the financial system. Noting that the NDIC and the EFCC share core values of integrity, professionalism and collaboration, he described the visit as a formal engagement towards strengthening institutional partnership, particularly in areas where EFCC’s investigative and prosecutorial capabilities are crucial to the achievement of NDIC’s mandates.

In his response, the Executive Chairman of the EFCC, Mr. Olanipekun Olukoyede, reaffirmed the Commission’s strong working relationship with the NDIC in addressing financial crimes in the banking sector. He acknowledged the longstanding cooperation between both institutions, especially in investigations and capacity building on the intricacies of banking operations.

Olukoyede informed the delegation about key departments within the Commission, including the Bank Fraud Section, which handles NDIC-related cases.

He urged the Corporation to bring forward any pending cases for prompt review to ensure better traction and effective monitoring of progress.

He also highlighted the role of the EFCC’s Fraud Risk Assessment and Control Department, which focuses on proactive monitoring of compliance, promotion of sound risk management processes, and internal controls within public and private sector institutions. He described this as part of the EFCC’s broader efforts to support and safeguard the Nigerian economy.

The EFCC Chairman pledged the Commission’s continued commitment to deepening collaboration and strengthening synergy with the NDIC in combating financial crimes, enhancing asset recovery, and prosecuting those whose actions undermine the stability and integrity of Nigeria’s banking sector.

ONEDOSH Raises $3m Pre-Seed to Build Global Stablecoin Payment Rails

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24/01/2026

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Money should move without borders. It doesn’t, yet.

OneDosh has closed a $3m pre-seed to build the stablecoin-powered payment infrastructure the global economy has been waiting for.

Founded in February 2025 by Jackson Ukuevo—Co-Founder & CEO, Godwin Okoye — Co-Founder

Babatunde Osinowo – Co-Founder.

OneDosh wasn’t built from theory. It was built from friction, blocked cards, frozen accounts, slow cross-border transfers, and currency constraints experienced firsthand by the founding team while living and traveling globally. The conclusion was clear: the problem isn’t demand. It’s infrastructure.

Today, OneDosh is live in the United States and Nigeria, two of the most active remittance and stablecoin corridors in the world.

Users can move money from the U.S. to Nigeria, store value in stablecoins, and spend globally using stablecoin-powered cards on Apple Pay and Google Pay, anywhere Visa is accepted.

But this is just the beginning.

Under the hood, OneDosh is building foundational stablecoin rails, infrastructure that connects wallets, cards, and countries into a single, programmable infrastructure. As stablecoins become the default settlement tool for global payments, these rails become inevitable.

The OneDosh team brings experience with executing innovative solutions, with experience at organisations like Zero Hash, Plaid, and Amazon, spanning compliance, payments, and

large-scale product development.

This pre-seed accelerates corridor expansion, deepens liquidity partnerships, and enables senior hires, positioning OneDosh at the intersection of stablecoins, global spending, and real-world payments.

The opportunity is not speculative. The behavior already exists.

The rails are being laid now.

Borderless money isn’t a vision anymore.

It’s happening, and OneDosh is building it.

Unity Bank Unveils Enhanced Unifi Mobile App to Deepen Digital Banking Experience

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21/01/2026

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Nigeria’s retail lender, Unity Bank Plc, has launched an upgraded version of its mobile banking platform, Unifi, as part of ongoing efforts to improve customer experience on the Bank’s digital Banking platform and reinforce its proposition in ebusiness.

The latest update, Unifi version 2.3, introduces a suite of improved features designed to enhance usability, security, and convenience for customers.

Key upgrades include enhanced security protocols, expanded quick-action functionalities, improved bill payment options, and an updated Nigeria Quick Response (NQR) feature to support faster and more secure QR code transactions.

A key aspect of the rollout builds on the Bank’s continued investment in digital and security infrastructure, aimed at safeguarding customer data, ensuring secure payments and enabling safe, real-time transactions across channels.

Speaking on the upgrade, Adenike Abimbola, Divisional Head, Retail, SME, Digital Banking & Fintech Partnerships at Unity Bank, said the improvements are built on the back of continuous interrogation of the platform to be more responsive to customer feedbacks which are being received overtime in our interactions and engagements.

“Digital banking has become an integral part of everyday life, particularly for retail customers who expect speed, dependability, convenience, and security as standard. With the latest upgrade to Unifi, we are responding directly to these expectations by enhancing functionality, strengthening security, and simplifying key payment and transaction journeys. Our goal is to ensure that customers can carry out their banking activities seamlessly, confidently, and without friction, anytime and anywhere.”

She added that the Bank remains committed to continuous improvement of its digital channels in line with evolving customer needs and emerging industry trends.

“As mobile banking increasingly defines how people interact with financial services, Unifi is central to our strategy of delivering intuitive, reliable, and inclusive digital solutions. We will continue to invest in technology partnerships and platform enhancements that support financial inclusion, drive adoption, and improve overall customer experience.”

Originally introduced as part of Unity Bank’s strategic push to expand its retail footprint, particularly among young and digitally savvy customers, Unifi has grown into a core engine of the Bank’s retail banking expansion. The platform plays a critical role in driving customer acquisition, deepening engagement, and reinforcing Unity Bank’s broader digital transformation agenda.

The Unifi mobile app is available for download on Android and iOS devices, offering customers access to a wide range of services, including transfers, bill payments, airtime purchases, and QR-enabled transactions.

NCC Holds Stakeholder Engagement on Spectrum Roadmap 2026-2030

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21/01/2026

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L-R: Deputy Director, Huawei Business Environment/Affairs Nigeria, Dr. Nihinlola Fafore; Head, Spectrum Administration Department, Nigerian Communications Commission (NCC), Engr. Atiku Lawal; Head, Fixed Networks and Converged Services (NCC), Engr. Gidado Maigana Ahmed; Head Spectrum Assignment (NCC), Mr. Abubakar Hammanyaji; Country Lead, Digital Access Program, Foreign, Commonwealth & Development Office (FCDO), Mr. Idongesit Udo; Head, Spectrum Planning, (NCC), Dr. Joseph Emeshili present at Day 1 of the Stakeholder Engagement on Spectrum Roadmap 2026 – 2030, Guidelines for the Use of the 60 GHz for Multi Gigabit Wireless Systems and the Guidelines for the Use of the Lower Part of the 6 GHz Band for Wifi-6 in Nigeria held at the Auditorium, Communications and Digital Economy Complex, NCC Annex Office, Mbora, FCT, Abuja.

Nigeria: Illicit Drugs and the Challenge of Addiction

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19/01/2026

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By Christiana Daniel

‎Nigeria’s fight against illicit drugs has intensified in ways that are impossible to ignore. Across the country, seizures have increased, trafficking routes have been disrupted, and criminal networks have come under sustained pressure.

The National Drug Law Enforcement Agency has been at the centre of this effort, expanding its operational reach and reinforcing the message that drug trafficking carries real consequences. These actions have improved security, reduced the brazenness of drug markets, and reassured many communities that the state is present and alert.

‎Yet for all this progress, many Nigerians still encounter drugs in their everyday environments. Familiar faces linger in the same spots, open drug scenes re-emerge, and drug-related petty crime continues to unsettle neighbourhoods.

This reality is often misinterpreted as enforcement weakness, but a closer look reveals a different truth. The persistence of drugs on the streets is driven less by the failure to stop supply and more by the continued presence of people who are already dependent on drugs and have nowhere else to go.

‎Decades of research in criminology and public health show that once dependence takes hold, demand becomes stubbornly resistant to pressure. Prices can rise, dealers can be arrested, and routes can shift, but the dependent user keeps searching.

This is why many low-level drug offenders appear repeatedly in arrest records. They are not hardened criminals adapting to enforcement; they are individuals trapped in a cycle of addiction, relapse, and survival. Without treatment, enforcement clears the street temporarily, only for demand to recreate the market.

‎Modern drug policy increasingly recognizes drug dependence as a chronic health condition influenced by social and economic realities. Unemployment, trauma, displacement, untreated mental health conditions, and social exclusion all raise the risk of problematic drug use.

Punishment alone does little to address these drivers. Evidence from multiple countries shows that while enforcement is necessary to maintain order, long-term reductions in drug use and drug-related crime depend heavily on accessible treatment and rehabilitation services.

‎This is why rehabilitation is not a soft option or a diversion from security priorities; it is a core security tool. Every dependent person who receives effective treatment represents one less steady customer for street dealers, one less repeat arrest for law enforcement, and one less vulnerable individual feeding the illicit drug economy.

Studies consistently show that treatment and rehabilitation reduce relapse rates, cut drug-related offences, and ease the burden on courts, prisons, and policing. In practical terms, rehabilitation locks in the gains that enforcement creates.

‎NDLEA’s evolving approach already reflects this understanding. Beyond seizures and arrests, the agency has increasingly emphasized counseling, treatment referrals, and rehabilitation as part of its broader mandate. This integrated thinking aligns with global best practice.

However, the scale of drug dependence far outstrips the current capacity of rehabilitation facilities. Many communities lack functional centres altogether, while others rely on informal or overstretched options that cannot support sustained recovery.

‎Expanding rehabilitation infrastructure is therefore not a critique of what has been done, but a logical extension of it. More treatment centres, trained addiction professionals, structured aftercare, and community reintegration programmes would reduce relapse and break the cycle that returns people to the streets.

Effective rehabilitation does more than detoxify; it restores dignity, rebuilds skills, and reconnects individuals to families and productive life. Where recovery systems are strong, drug markets shrink naturally because demand fades.

‎Nigeria’s drug control challenge will not be resolved by choosing between enforcement and compassion. The country has already demonstrated resolve through strong law enforcement. The next phase of progress lies in matching that resolve with investment in recovery.

A society cannot arrest addiction out of existence, but it can treat it out of circulation. When lives are restored, streets remain clean not because they are constantly cleared, but because fewer people are driven back to them.

‎* Christiana Daniel writes from Jalingo, Taraba State

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Gospel Artiste, Titilope Baptist-Sanusi, Speaks on Her ‘I WON’ Album

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19/01/2026

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Titilope Baptist-Sanusi, popularly known as Baptista (BaptistaOnMiC), is a Nigerian gospel music minister whose sound is rooted in faith, testimony and spiritual depth.

Her music reflects a journey of endurance, restoration, and victory, shaped by years of waiting and personal trials.

Through heartfelt worship and powerful declarations, Baptista uses her voice as an instrument of hope, pointing listeners to God as the ultimate source of strength, healing and triumph.

The album “I WON” feels deeply personal. What was the emotional and spiritual journey like turning years of pain, waiting, and loss into music?

I WON was not something I planned; it was something God processed in me. For years, I carried pain quietly waiting, crying, praying, and sometimes even questioning. Turning those years into music was emotional because every lyric reminded me of a moment I didn’t think I would survive.

Spiritually, it was a journey from broken prayers to bold declarations. I didn’t write from a place of perfection; I wrote from a place of survival. Each song became a release, a healing, and a reminder that God was present even when I felt alone.

You recorded this project between 2023 and 2025, but the story behind it spans seven challenging years. At what point did you realise these experiences were shaping an album rather than breaking you?

I realised it when I noticed that despite everything, I was still standing still singing, still believing, even when I had no strength left. There was a moment when I stopped trying to force outcomes and simply surrendered. That was when clarity came. I understood that the experiences were not meant to destroy me but to give my voice depth. God was using the waiting to prepare a sound that could only come from endurance.

You’ve spoken openly about losing twins, your sister’s disappearance, family pressures, and financial struggles. How did your faith evolve through those seasons, and how is that evolution reflected across the tracklist?

My faith matured. In the beginning, my prayers were full of “why.” Later, they became prayers of trust. Across the tracklist, you can hear that growth. Songs like F.O.G (Focus on God) came from learning to shift my eyes away from pain. Modupe reflects gratitude even when answers were delayed. Joy is not about happiness it is about choosing praise in uncertainty. Each song represents a stage of my faith becoming stronger, quieter, and more rooted.

You mentioned that divine intervention came after you stopped trying. Can you share more about that moment and how the support from Oluwafemi Aborisade reignited your conviction?

That moment was very humbling. I had reached a point where I felt tired of pushing, tired of explaining, tired of hoping. Then God raised a man Mr. Oluwafemi Aborisade who was led purely by conviction to shoot the video for I Won. I didn’t lobby or beg. It was God’s doing. That act reminded me that when God says it is time, He will move people’s hearts without stress. It reignited my conviction that God is still intentional about my victories.

Songs like Modupe, Joy, and F.O.G (Focus on God) suggest a journey from gratitude to clarity. How intentional was the sequencing of the album in telling your testimony?

The sequencing was very intentional. I wanted the listener to walk the same path I walked from gratitude, to strength, to clarity. The album is not random; it tells a story. It starts with acknowledging God, moves through encouragement and focus, and ends in affirmation and victory. I WON is not just a title; it is the destination of the journey.

Yea & Amen features Dr. D. K. Olukoya. What does that collaboration represent spiritually, and how does it strengthen the message of victory in I WON?

Spiritually, this collaboration is deeply symbolic and intentional. It goes beyond music and enters the realm of alignment, covering, and spiritual authority. Being the first and only artist to feature Dr. D.K. Olukoya on a song is not about personal achievement alone. It represents trust, spiritual recognition, and divine timing.

Dr. Olukoya’s voice has long been heard in prayers, teachings, and spiritual sessions within the church, often repeated during services as instruments of instruction and warfare, not as commercial tracks.

For that same voice to appear on a song marks a shift from the altar into a sound that reaches beyond church walls. Spiritually, it means the message, prayers, and spiritual weight he carries are being released through music as a tool of impact, testimony, and victory.

As one of his children in the faith, this collaboration signifies spiritual covering and endorsement. It reflects a passing on of grace, values, and spiritual DNA. It shows that the song is not just artistic expression but a vessel carrying spiritual substance, prayer, and purpose. It also affirms that the journey behind the music has been shaped, refined, and approved in the place of obedience and alignment.

At a deeper level, it means God is using unity across generations and expressions of ministry. The collaboration stands as a bridge between the Word, prayer, and music, declaring that sound itself can be ministry. Spiritually, it says this song is not just to be heard but to be received, because it carries authority, testimony, and victory rooted in faith.

As the album premieres on your birthday and Boxing Day, what does this release symbolise for you personally, and what do you hope listeners carry with them after experiencing I WON?

Releasing I WON on my birthday is deeply symbolic. It represents rebirth, restoration, and gratitude for life. Boxing Day speaks of gifts, and this album is my gift to God and to everyone who has ever waited in silence. I want listeners to carry hope the assurance that pain does not have the final word. If God did it for me, He can do it for them. I WON is a reminder that victory is possible, even after giving up.

What role did Ogun State played in helping out with the disappearance your Sister?

I first came in contact with Mr. Oluwasina Ogungbade, SAN, Attorney General & Commissioner for Justice, Ogun State, through a public appeal regarding the disappearance of her sister. He personally picked her number from the flyer and reached out to her. From that moment, he consistently supported the family’s efforts in searching for her sister, Motunrayo. Over the past three to five months of tirelessly seeking her whereabouts, he stood by them, offering help, encouragement, and unwavering support through the ministry of justice and the Ogun State Police command. Beyond this, he also supported her career in every way possible, for which she is deeply grateful.

IMF Projects 4.4% GDP Growth for Nigeria in 2026

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Business Journal

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19/01/2026

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Global economic activity is projected to remain resilient in 2026, with world output growth at 3.3%, easing marginally to 3.2% in 2027.

The outlook reflects a global economy that is steady amid divergent forces, as technology investment, accommodative financial conditions, and private-sector adaptability continue to offset headwinds from trade policy uncertainty and geopolitical tensions.

Growth across advanced economies remains modest but stable. The United States is projected to expand by 2.4%, supported by easing financial conditions and productivity gains linked to technology adoption.

The Euro Area records gradual improvement Germany (1.1%), France (1.0%), and the United Kingdom (1.3%) though structural constraints and weak investment continue to limit growth potential. Japan (0.7%) remains weighed down by demographic and demand-side pressures.

Emerging market and developing economies continue to drive global growth.

China (4.5%) reflects a moderated but stable expansion consistent with structural rebalancing, while India (6.4%) remains the fastest-growing major economy, underpinned by strong domestic demand and investment.

Sub-Saharan Africa is projected to grow by 4.6%, with Nigeria (4.4%) benefiting from reform momentum and services-sector expansion.

In the Middle East, Saudi Arabia (4.5%) reflects diversification efforts and normalisation in the oil sector.

Heirs Insurance Hackathon Opens: Nine University Students to Win N9m Innovation Prize

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Business Journal

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19/01/2026

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Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, calls for applications for the maiden edition of the Heirs Insurance Hackathon, a technology-driven innovation programme designed to empower young students shape the future of insurance through Artificial Intelligence and digital solutions.

The Hackathon is open only to students in universities, polytechnics, and other tertiary institutions to build solutions for real-world challenges across the insurance value chain, from customer experience and claims processing to underwriting, distribution, data, and operational efficiency.

Registration closes on February 16, 2026, with winning teams to be announced at the Hackathon Grand Finale in April. A total prize pool of ₦9 million will be awarded to the top three teams.

The initiative reflects Heirs Insurance Group’s commitment to youth empowerment, digital skills development, and inclusive innovation, providing a platform for young Nigerians to apply emerging technologies to critical financial services challenges while gaining exposure to industry, mentorship, and real business problems.

The Hackathon is being delivered in partnership with Redtech, the digital payment solutions arm of Heirs Holdings, which will bring its technical expertise to support the programme and review submitted solutions, ensuring that ideas are evaluated not only for creativity but also for technical feasibility, scalability, and real-world impact.

Commenting on the launch, Peace O. Philips, Chief Digital Officer, Heirs Insurance Group, said: “Africa’s future will be built by young people who have the opportunity to apply their ideas, creativity, and technology skills to real economic challenges. Through the Heirs Insurance Hackathon, we are giving the next generation of innovators a platform to engage with the insurance industry, build meaningful solutions, and contribute to shaping a more efficient and inclusive financial system.”

Entries can be submitted on the Heirs Insurance Group website at www.heirsinsurancegroup.com/hackathon/

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.

With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group, comprising Heirs General Insurance Limited, Heirs Life Assurance Limited, and Heirs Insurance Brokers, serves both corporate and individual customers across Nigeria.

Heirs Insurance Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.

Stockbrokers, Securities Dealing Houses Congratulate NGX on N100tn Market Capitalisation

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Business Journal

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19/01/2026

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The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) warmly congratulate the Board, Management, and staff of Nigerian Exchange Group Plc and Nigerian Exchange Limited on the historic achievement of the Nigerian capital market crossing the ₦100 trillion market capitalisation mark.

This remarkable milestone is a major affirmation of the resilience, depth, and growing sophistication of Nigeria’s capital market, and a clear signal of renewed investor confidence in the Nigerian economy.

This achievement would not have been possible without the visionary leadership and strategic direction of the NGX Board, as well as the professionalism and dedication of its Management and staff, led by versatile stockbrokers: Dr. Umaru Kwairanga; Mr. Temi Popoola; and Mr. Jude Chiemeka and Mr. Femi Sobanjo.

We also commend the unwavering commitment and versatility of dealing member firms and stockbrokers who continue to serve as the backbone of the market, ensuring liquidity, transparency, and investor protection. Their collective efforts have strengthened market integrity, broadened participation, and improved the overall efficiency of the Exchange.

The CIS and ASHON also commend the Federal Government of Nigeria for providing a supportive macroeconomic and regulatory environment that has encouraged domestic and foreign investment, promoted market reforms, and enhanced the attractiveness of Nigerian assets.

Policy stability, ongoing reforms, and a clear commitment to private sector–led growth have played a crucial role in creating the conditions for this historic market expansion. We also commend SEC for providing sound regulations and market development.

Crossing the ₦100 trillion threshold is not only a symbolic landmark; it reflects the capacity of Nigeria’s capital market to mobilise long-term funds for infrastructure, enterprise development, and economic transformation. It underscores the vital role of the market in financing growth, creating wealth for investors, and supporting national development objectives.

The CIS and ASHON will continue to advocate ethical governance in the capital market with all stakeholder playing by the rules of the game. We remain fully committed to sustaining this momentum through robust regulation provided by Securities and Exchange Commission, market innovation, and strong investor protection frameworks.

We look forward to working closely with all stakeholders to further deepen the market, broaden product offerings, and ensure that the Nigerian capital market continues to serve as a strong engine for inclusive and sustainable economic growth.

SAMUEL SEHINDE ADENAGBE OLUROPO DADA, Chairman 13th President/Chairman of Council Association of Securities Dealing Houses of Nigeria Chartered Institute of Stockbrokers

FG to Appeal Judgment Directing it to Investigate Attacks on Journalists

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19/01/2026

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Nearly two years after a Federal High Court in Abuja ordered the Federal Government to investigate, prosecute and punish perpetrators of all attacks against journalists and other media practitioners, and take measures to prevent further attacks, the Attorney-General of the Federation is asking the Court of Appeal in Abuja to allow the Government to appeal the judgment by granting an extension of time since the three months prescribed by Law for lodging appeals has lapsed.

In a motion on notice filed on December 23, 2025, by Mr. A.B. Mohammed, a counsel in the Federal Ministry of Justice, on behalf of the Attorney-General, the Government is seeking an order of the Court of Appeal extending time for it to appeal the judgment of the Federal High Court delivered by Justice Inyang Ekwo on February 16, 2024.

Section 24(2)(a) of the Court of Appeal Act, 2004 (as amended), stipulates that the period for the giving of notice of appeal or notice of application for leave to appeal in a civil matter is three months where the appeal is against a final decision of the court.

Justice Ekwo’s judgment arose from a suit filed on behalf of Media Rights Agenda (MRA) by human rights lawyer, Mrs. Mojirayo Ogunlana-Nkanga, on October 26, 2021, in which the organization complained about the violation of the fundamental rights to life and freedom of expression of Nigerian journalists and media practitioners who were murdered at various times over the last few decades in the line of duty or under circumstances relating to the discharge of their duties as journalists and the failure of the Federal Government to protect them, carry out effective investigation, prosecute and punish the perpetrators of the murders.

MRA named some of the murdered journalists as the late Editor-in-Chief of Newswatch magazine, Mr. Dele Giwa, who was killed on October 19, 1986 by a parcel bomb in his home in Lagos; Ms Bolade Fasasi, a member of the National Association of Women Journalists and former treasurer of the Nigeria Union of Journalists (NUJ), who was shot dead by three unidentified gunmen in Ibadan on March 31, 1998; Mr. Edward Olalekan Ayo-Ojo, who was found dead beside his car on a road in Lagos in the early hours of June 1, 1999; and Mr. Omololu Falobi, a former features editor of The Punch and founder of the media advocacy group, Journalists Against AIDS (JAIDS), who was gunned down in Lagos on October 5, 2006, on his way home from his office.

Other journalists identified by MRA are Mr. Godwin Agbroko, Chairman of the Editorial Board of This Day newspaper, who was murdered by unknown gunmen on December 22, 2006; Mr. Abayomi Ogundeji, a member of the Editorial Board of This Day newspaper, who was shot dead on August 17, 2008; and Mr. Edo Sule-Ugbagwu, Judicial Correspondent of The Nation newspaper, who was murdered in his home in Lagos by a gang of armed men on April 24, 2010.

In his February 2024 judgment, Justice Ekwo held that “journalism and media practice are constitutional professions in their respective rights” as it is the exercise of the rights provided for in Section 39(1) and (2) of the 1999 Constitution that gives foundation for journalism and media practice, and ruled that MRA had “established its case by credible evidence”.

The judge therefore issued eight declaratory reliefs sought by MRA and directed the Federal Government to take measures to prevent attacks on journalists and other media practitioners; investigate, prosecute and punish perpetrators of all attacks against journalists, and ensure that all victims of attacks against journalists have access to effective remedies.

He ordered the government to take measures to raise awareness and build the capacities of various stakeholders, including law enforcement, security, intelligence, military and other officials on the laws and standards for ensuring the safety of journalists and media practitioners.

Stating the grounds upon which the application was made, the Federal Government said in its motion paper that it is “desirous to appeal” the judgment, but it did not explain why it has not lodged any appeal for over 22 months, except to say that it needs time to appeal.

In an affidavit in support of the motion, Mr. Kelechi Ohaeri, a litigation officer in the Department of Civil Appeals at the Federal Ministry of Justice in Abuja, said the application is necessary in the interest of justice and in furtherance of the Government’s constitutional right to appeal.

He explained that the Government had prepared a proposed Notice of Appeal, which sets out the grounds of appeal, and claimed that the grounds of appeal contained in the proposed notice are recondite.

In his written address, Mr. Mohammed said “upon a consideration of the judgment” delivered by Justice Ekwo, the Government has discovered errors and therefore wishes to exercise its constitutional right of appeal as guaranteed by Section 243 of the 1999 Constitution, as amended.

No date has been fixed for the hearing of the motion.

Kano Massacre: The Menace of Hard Drugs, Intervention Campaign by NDLEA

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Business Journal

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18/01/2026

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By Mahmud Isa Yola

On the noon of Saturday, I sat in the cavernous Conference Hall of the National Mosque in Abuja, lost in a sea of faces, listening with keen interest as my boss, the NDLEA’s Director of Media and Advocacy, Mr. Femi Babafemi, connected the dots between insecurity and drug abuse during a Public Lecture organised by Muslim Rights Concern, MURIC.
For those who know the inner workings of the Agency, seeing Mr. Babafemi at a public event on a weekend is as rare as seeing a comet. To him, Saturdays are sacred, not for rest, but for the grim arithmetic of the drug war.

Like the diligent scribe in a relentless chronicle, he dedicates his weekends to collating the details of every arrest and every seizure from commands nationwide, preparing the weekly press release that sets the tone for Monday morning.

He is a man who believes, like the ancient stoics, that “to leave the ledger unbalanced for a day is to invite chaos.” Yet, the gravity of the subject—the bleeding soul of our nation—compelled him to break this ironclad routine.
The atmosphere in the hall, initially ceremonial, turned suffocatingly heavy when Professor Abba Gambo, the Agricultural Adviser to the Nigerian Governors Forum (NGF), took the microphone. With a voice laden with personal grief, he recounted how the insurgency had wiped out almost all his siblings. He painted a vivid, horrifying picture of a relative shot dead at close range right in front of him by a young man he initially thought was approaching to exchange pleasantries.

He took us inside the IDP camps, describing mothers so broken by despair that they were begging strangers to take their children, choosing the pain of separation over the agony of watching them starve. He narrated the abomination of a mother raped by her own son after he was radicalised by Boko Haram, and the ultimate horror of a terrorist who “married” both a mother and her daughter, holding them in such depraved captivity that when rescue finally came, both were pregnant for the same man.
Prof. Gambo’s voice trembled as he asked the question that hung over us like a dark cloud: “Would this be possible for a human being—a superior creation of God, endowed with a soul and conscience—to be this cruel, this animalistic, without being under the influence of hard substances?”
The hall fell into a graveyard silence. We thought we had heard the worst of it.
But I cannot think of anything more devastating than realizing that at the exact moment we were shuddering in that hall, another evil was being perpetrated in Kano. While we analyzed the theory of terror in Abuja, the practical reality of it was visiting the home of Haruna Bashir in Dorayi Chiranchi Quarters.
In a senseless orgy of violence, unknown assailants stormed the sanctuary of a family and wiped out a generation.

They killed Haruna’s wife, 35-year-old Fatima Abubakar. But they didn’t stop there. They turned their weapons on the children. Maimuna, 17, on the cusp of womanhood; Aisha, 16; Bashir, 13; Abubakar, 10; Faruk, 7.
And most heart-wrenching of all, they silenced the cries of little Abdussalam, a baby of barely one and a half years old.
As I read the report, tears blurred my vision. What crime could a one-year-old commit? What threat does a nursing mother pose? This was not a robbery; this was an erasure.
While the specific motive for this carnage is still being investigated by the police, one cannot help but return to the chilling truth Mr. Babafemi laid bare at the event: Where there is heinous crime, there is most certainly drugs.
I do not intend to oversimplify this tragedy. God knows this is cruelty of the highest order, and woe betide the monsters who did this. But we must not ignore the facts. The vast majority of homicides, cold-blooded family massacres, and acts of extreme depravity are committed by individuals whose minds have been hijacked by psychoactive substances. A normal human mind has a brake—a conscience that screams “stop” when it tries to take a life. It takes a chemical agent to cut that brake.
Yet, as a society, we are not fully awake to this epidemic. We treat drug abuse as a distant moral failing rather than the immediate existential threat it is.
The NDLEA, under the leadership of Brig. Gen. Mohamed Buba Marwa (Retd), has created a toll-free helpline (0800 1020 3040) specifically to support drug users and their families, offering a path to treatment before they become monsters or victims.

But how many people call this line? The Chairman has tirelessly advocated for drug integrity tests—in our homes, our schools, and our workplaces—to fish out drug use early and treat it. Yet, we hesitate. We worry about “privacy” and “stigma” while the drugs take control of souls. We allow the addiction to fester, and when the addicts eventually explode and wreck the greatest havoc, we curse and wail.
The link is undeniable. Statistics from the NDLEA’s vaults prove that terrorism and violent crime thrive on the abuse of drugs by insurgents. In the last five years, the Agency has intercepted more drugs destined for terrorists than ever before.
We remember September 2021, when operatives at the Apapa port seized 451,807 tablets of Captagon weighing 74.119kg. This was not for street peddlers. Captagon is known globally as the “Jihadist Drug”, the very pill used by ISIS fighters in Syria to stay awake for days and kill without remorse.

These pills were destined for the insurgents in the North East, intended to fuel the exact kind of madness Prof. Gambo described. We remember the millions of Tramadol pills intercepted from syndicates supplying bandit camps. These are the logistical supplies of terror.
The slaughter in Kano is a sorrow too deep for words. But as we mourn Fatima and her six beautiful children, we must realise that we are not just fighting criminals; we are fighting the substances that turn men into beasts. Until we confront the drug scourge with the same intensity we confront the bandits, we will continue to weep.
May the souls of the innocent rest in peace, and may we, the living, finally wake up.

Mahmud Isa Yola Writes from NDLEA NHQ Abuja.

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