Author: Abimbola Daniels

IN an effort to promote environmental cleanliness and safeguard public health, the Lagos State Government has sealed 13 markets across the state for persistent violations related to illegal waste disposal. This was disclosed by the state’s Commissioner for Environment and Water Resources, Tokunbo Wahab, in a statement on his X handle on Friday. Wahab said that the enforcement actions are in line with the Lagos State Environmental Management and Protection Law of 2017, aimed at ensuring responsible waste management and maintaining public order. Notably, Ketu and Mile 12 markets were sealed last night due to consistent violations, including the improper…

THE Federal Government has marked 700 properties for demolition for the Lagos-Calabar Highway project. Lagos State Controller of Works, Mrs Olukorede Kesha, disclosed this at a stakeholders’ meeting on the ongoing Lagos-Calabar Coastal Highway project. According to her, the number was significantly lower than initial estimates. “Instead of having to demolish about 1,500 houses, we took the most economical route. Now we are left with less than 700 houses to be demolished,” she said. She lauded the pace and planning of the project, stating that Section 1 of the Lagos-Calabar Coastal Highway, which is 47 plus 400 kilometres, was awarded…

SOME of Nigeria’s largest commercial banks earned a combined N922.5 billion ($589 million) from net fees and commission charges in 2024, marking a 60 percent jump from the prior year despite rising public frustration over surging transaction costs and service failures. The earnings, compiled from full-year financial statements of nine deposit money banks, rose from N576.1 billion in 2023, underscoring the sector’s growing reliance on non-interest income amid a volatile macroeconomic environment. Zenith Bank led the cohort with N206.87 billion in net fee and commission income, an 89.3 percent increase from N109.31 billion in 2023. The bank attributed the growth…

THE National Drug Law Enforcement Agency (NDLEA) says its operatives have intercepted cocaine hidden inside the walls of several suitcases. NDLEA’s Director of Media and Advocacy, Femi Babafemi, disclosed this in a post on Sunday, attaching the videos of the seized contraband on X. He decried a situation whereby the smugglers went to extreme lengths, factory-fitting the hard drugs within the luggage with surgical precision. “Narco-trend update: Strewing the walls of suitcases, in factory fitting precision, with cocaine, must have taken lot of efforts and resources but at the end #ndlea_nigeria officers still uncovered all as revealed in these videos…

A MILITARY grenade has killed a scavenger and injured three other persons at the Idi-Araba, Mushin area of Lagos State, News Point Nigeria gathered. The explosion occurred on Thursday afternoon at Taiwo Street in Idi-Araba while the scavenger was trying to split one of the two grenades they allegedly bought as condemned irons. According to eyewitnesses, the bomb went off on one of the scavengers killing him on the spot inside the scrapyard while the others sustained injuries. An inferno was said to have followed the explosion causing panic among residents. “This happened yesterday at my community Idi-Araba, Mushin Lagos.…

SIX banks paid N751.796 billion as income tax to the Federal and State Governments and agencies for the 2024 financial year ended on December 31, 2024. The figure represents a 189.9 per cent increase from the N395.79 billion tax paid in the 2023 financial year. Our correspondent that monitored the banks audited statements on Nigerian Exchange Group (NGX) platform reveals that the banks also recorded profits in their earnings. The banks analysed include Zenith Bank Plc, Guaranty Trust Holding Company (GTCO) Plc, United Bank for Africa (UBA) Plc, Fidelity Bank Plc, Stanbic IBTC Holdings Plc and Wema Bank Plc. Guaranty…

THE Lagos State Building Control Agency (LASBCA) has commenced the removal of illegal structures across the state following the expiration of the amnesty period granted by the State Governor, Mr. Babajide Olusola Sanwo-Olu. In a statement made available to newsmen, the agency said the exercise began in Ogudu GRAW, where its officials enforced compliance with the state’s urban planning regulations following the expiration of the amnesty period, which was extended to December 31, 2024, to allow property owners to regularize their documents According to the Permanent Secretary, LASBCA, Arc. Gbolahan Owodunni Oki, the enforcement drive aims to restore order to…

OPERATIVES at the Zone 2 Police Command, Onikan, Lagos, have detained a syndicate for allegedly trafficking girls from Nigeria to Mauritania for prostitution and sexual exploitation. The Zonal Public Relations Officer, CSP Umma Ayuba, confirmed this in a statement on Tuesday in Lagos. She said the syndicate was apprehended on March 22 at the command in the Meiran area of the state. “Operatives of the Zonal Intelligence Response Squad, led by SP Francis Kpoughul, stormed their base where two suspects were apprehended,” Ayuba said. The ZPRO stated that the suspects confessed to the crime. Ayuba said, “The first suspect said…

THERE is anxiety in the downstream arm of the oil and gas sector as operators await the decision of the Federal Government on the naira-for-crude deal between the Nigerian National Petroleum Company Limited and the Dangote Petroleum Refinery. The six-month deal, which started in October 2024, officially ends today, Monday, March 31, 2024. The deal’s extension or complete halt is still being discussed by the parties involved. However, it was gathered on Sunday that the committee responsible for the negotiations has yet to resolve on the matter. As this lingers, the effect is now felt in the pump prices of…

– Solid Core Earnings Drive Growth In Profitability, Returns UNITED  Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2024, with all its major indicators witnessing significant improvement. The 2024 financials, filed with the Nigerian Exchange Limited (NGx) on Monday, showed an impressive rise in the bank’s profit after tax which went up by 26.14 percent to close the year at N766.6 billion, up from N607.7 billion recorded at the end of the 2023 fiscal year. The Bank’s gross earnings also grew significantly from N2.08tn recorded at the end of the…

THE former governorship candidate of the Peoples Democratic Party in Lagos State, Dr Abdul-Azeez Adediran, popularly known as Jandor, has defected to the All Progressives Congress. Jandor made the announcement on Monday during a press conference at his office in Ikeja, Lagos, weeks after resigning from the PDP. Jandor cited internal crises and lack of party discipline within the PDP as the primary reasons for his departure, expressing disappointment in the party’s inability to address anti-party activities during the 2023 general elections. He said, “Our story in the PDP was a case of working with perennial political saboteurs but we…

JAMIU Abiola, the son of the late winner of the June 12, 1993 presidential election, Chief Moshood Abiola, has stated that probing former military Head of State, Ibrahim Babangida, over the death of his father is unnecessary. In an interview with this newspaper, Jamiu explained that the time for such investigations had passed away, stating that many key figures involved in the June 12 tragedy are no longer alive. “There is no need for prosecution or probe. So many years have passed and most of the good and bad actors in the June 12 tragedy have passed away,” Jamiu said.…

THE Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025. The 2025 announcement comes at a critical time, as Africa’s entrepreneurship ecosystem faces funding constraints and global economic headwinds. TEF continues to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth. Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, a world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities. The selection process is being conducted…

THOUGH customer service is reported to be improving in Nigeria’s telecommunications sector, 32 per cent of telephone users are still very dissatisfied with services offered by mobile network operators, especially the quartet of MTN, Airtel, Globacom and 9mobile. Nineteen per cent of subscribers also fumed at customer services by Internet service operators (ISPs) in the country. Battered the most are the electronic commerce (eCommerce) players within that ecosystem. This was revealed in the Nigeria Customer Service Index report, unveiled in Lagos on Monday, by the West African Association for Customer Service Professionals (WAACSP), which assessed 12 sectors divided into 21…

THE Nigerian National Petroleum Company (NNPC) Limited has suspended the naira-for-crude oil swap deal with domestic refiners, including Dangote Refinery and other private operators. News Point Nigeria reports that the decision, which took immediate effect, has sparked discussions about its implications for Nigeria’s energy sector and the broader economy. The naira-for-crude arrangement, introduced on October 1 2024, allowed local refiners to purchase crude oil in naira instead of dollars. The initiative was designed to support domestic refining capacity, reduce reliance on imported petroleum products, and stabilize the local currency by easing pressure on foreign exchange reserves. The termination of the…

TRANSNATIONAL Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate has announced its financial results for the year ended December 31, 2024. Consistent with its results track record, the Group sustained its strong growth trajectory across its financial indicators, reinforcing its market leadership and strategic positioning. In its audited results, Transcorp reported significant year-on-year growth, with a revenue of N408 billion as at December 31, 2024, representing a 107% increase over the revenue ofN197 billion in the previous year. Highlights of Transcorp Group Results: ▪ FY 2024 Revenue increased by 107%, rising to N408billion from N197billion of 2023. ▪…

ARMED personnel from the Air Force Base in Ikeja, Lagos, assaulted PUNCH correspondent Dare Olawin on Thursday morning. The military officers stormed the headquarters of Ikeja Electricity Distribution Company (IKEDC), located opposite MITV in Ikeja, around 7:40am. Olawin had arrived at the office to join other journalists for an event in Adiyan, Ogun State, where a solar project was to be unveiled. Reporters were scheduled to gather at the location before heading to the venue. However, the Air Force personnel spotted the journalists inside a coaster bus, dragged them out, and subjected them to physical assault, forcing them to sit…

AFRICA’s Global Bank, United Bank for Africa (UBA) Plc, continues to make significant impact in birthing the next generation of banking and finance professionals on the continent through its Graduate Management Acceleration Programme (GMAP) which to date has produced over 3,222 young professionals across Africa. Since inception three years ago, the GMAP, designed to equip entrants with the necessary skills and knowledge, has provided mentorship, training, and hands-on experience to young graduates for leadership roles in UBA. On Wednesday, a ceremony was held at the Landmark Event Centre to induct another cohort of 1,138 successful graduates who were absorbed by…

AMID the leadership tussle that has assailed the Lagos State House of Assembly in the last seven weeks, a lawmaker, who represents Agege Constituency I, Mudashiru Obasa, has been re-elected as the Speaker of the Lagos State House of Assembly. News Point Nigeria reports that Obasa was re-elected on Monday after the resignation of Mojisola Meranda who stepped down as the Speaker of the House. His re-election followed the nomination by a former Majority Leader of the House, Noheem Adams, who represents Eti-Osa Constituency 1. Obasa subsequently took the oath of office as the new Speaker of the Lagos State…

OPERATIVES of the National Drug Law Enforcement Agency have arrested a wanted 59-year-old international drug baron, Ogbonnaya Jeff. He was apprehended at his hideout in the Ojo area of Lagos after 17 years of evading authorities. Addressing journalists in Abuja on Monday, the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (retd.), said the agency’s Special Operations Unit had been tracking Ogbonnaya following an Interpol Red Notice against him and intelligence from the National Intelligence Service of South Korea. He stated that the agency had gathered incontrovertible evidence of Ogbonnaya’s activities, including his recruitment of young Nigerians as drug…