BY NKECHI NAECHE-ESEZOBOR—Nigerian Exchange Limited (NGX) announces the expansion of its trading hours from 9:00 a.m. to 4:00 p.m. (WAT), effective Monday, 27 April 2026, in a move designed to deepen market liquidity, enhance price discovery, and broaden investor access.

Approved by the Securities and Exchange Commission (SEC) Nigeria, the expansion shifts the market opening earlier from 9:30 a.m. to 9:00 a.m. and extends the close from 2:30 p.m. to 4:00 p.m., marking a significant evolution in the Exchange’s market structure.

The extended trading window will provide greater flexibility for investors, improve responsiveness to market-moving information, and support broader participation across the market. The development builds on the momentum of Nigeria’s recent reclassification to Frontier Market status by FTSE Russell, reinforcing NGX’s global positioning and enhancing its attractiveness to a broader pool of domestic and international investors.

This reform reflects strong regulatory collaboration and underscores the Securities and Exchange Commission’s continued commitment to advancing market development initiatives. Alongside Nigeria’s Frontier Market reclassification, it signals a deliberate shift towards a more accessible, liquid, and globally competitive market.

The implementation follows extensive stakeholder engagement, ensuring alignment and operational readiness ahead of the go-live date. NGX Regulation Limited will continue to provide robust oversight to support a smooth and orderly transition, while maintaining high standards of transparency and investor protection.

With this development, NGX reinforces its position as a leading multi-asset exchange, deepening liquidity, improving market access, and supporting efficient capital formation within Nigeria’s financial markets.

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BY SUNDAY SAMUEL—The National Drug Law Enforcement Agency (NDLEA) has recorded a major enforcement milestone, securing 974 convictions for drug-related offences across Nigeria within the first quarter of 2026. The convictions, achieved between January and March, reflect an intensified nationwide crackdown on drug trafficking networks and their collaborators.

No fewer than 974 offenders have been convicted and sentenced to various jail terms including 11 drug kingpins who bagged 254 years imprisonment in the first quarter of 2026 as the National Drug Law Enforcement Agency (NDLEA) ramped up the arrest, prosecution and forfeiture of the assets of drug traffickers and their collaborators across the country.

Among the 974 drug traffickers convicted between January and March, 899 of them are male and 75 females, while a further breakdown of the conviction figure shows that 265 were secured in January, 316 in February and 393 in March.

Top on the list of the 11 drug kingpins who were successfully prosecuted and convicted within the period include a notorious Italy-based 42-year-old businessman, Adegbite Solomon (a.k.a Obama) who was arraigned on 15-count charge before Justice Musa Kakaki of the Federal High Court Lagos in suit number: FHC/L/851C/2025. Delivering his ruling on the matter on 18th March, Justice Kakaki convicted the repeat offender on all 15 counts and sentenced him to a total of 130 years in prison.

Specifically, Justice Kakaki sentenced Adegbite to 15 years’ imprisonment on count 1; 15 years on count 2; 15 years on count 3; 15 years on count 4; 15 years on count 5; 15 years on count 6; 10 years on count 7; four years on count 8; four years on count 9; four years on count 10; four years on count 11; four years on count 12; and 10 years on count 15. While the prison sentence is to run concurrently, the trial judge also ordered the revocation of the convict’s pharmacy license and the forfeiture of two branches of his pharmacy store as well as the forfeiture of funds in his three bank accounts to the Federal Government, among others.

Another top drug kingpin sentenced to long years in prison in the first quarter of the year is 32-year-old Ridwan Animashaun who was arraigned by NDLEA before Justice Nkenoye Evelyn Maha of the Federal High Court, Ibadan, Oyo state in charge number: FHC/IB/97C/2025. In her judgment delivered on 26th February 2026, Justice Maha convicted and sentenced Animashaun to 25 calendar years for drug trafficking.

The convict was first convicted and sentenced to one year imprisonment for a similar offence on 15th July 2022 by Justice Uche Agomoh of the Federal High Court following his arrest by NDLEA along Lagos/Ibadan expressway on 27th March 2022.

Two other convicts who bagged long years imprisonment are: Rauf Asogba, 28, and Seun Olaniyi, 24, who were convicted and sentenced to 17 years in jail each by Justice Abiodun Jordan Adeyemi of the Federal High Court Abeokuta, Ogun state on 28th January 2026 after NDLEA arrested and charged them to court for trafficking 1,779 kilograms of skunk in suit number: FHC/AB/160C/2025.

Another set of two convicts got 15 years imprisonment each. They are: 54-year-old Jonathan Nuhu (a.k.a Doctor) who was convicted by Justice Mohammed Nasir Yunusa of the Federal High Court, Kano, Kano state on 17th March 2026 following his arraignment by NDLEA in charge: FHC/KN/CR/96/2023, and 40-year-old Idris Yusuf who was sentenced on 31st March 2026 by Justice Fatima Murtala Nyako of the Federal High Court, Damaturu, Yobe in suit number FHC/CR/6/21, in addition to another eight years sentence for a similar case brought against Yusuf by NDLEA in charge number FHC/CR/DM/16/24.

Other convicts who got seven years imprisonment each for drug trafficking offences in parts of the country include: Godday Obizuo in FHC/AK/64C/2024; Asabe Abubakar in FHC/BAU/CR/16/2026; Godwin Peter, Asuquo Christian and Olabode Sunday in FHC/AD/CR/66/2024.

In his reaction to the conviction of the drug offenders, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) described the sentencing of the 11 drug kingpins to a combined 254 years in prison as a watershed moment in the country’s war against substance abuse and illicit drug trafficking.

He noted that the conviction of 974 offenders between January and March 2026 sends an unambiguous message that Nigeria is no longer a safe haven for those who trade in human lives and derive pleasure in destroying the lives of the nation’s youth.

According to him, “Securing 974 convictions in just three months is a testament to the relentless spirit of our officers and the thinning patience of the Nigerian state toward drug merchants. To the 11 kingpins who thought they were untouchable, their 254-year collective residency in correctional centres is a firm reminder that the long arm of the law has finally caught up with their greed.”

Marwa commended the Judiciary for the accelerated hearing of the cases, noting that swift justice is the most potent deterrent. To officers, men and women of the Agency, he said
“Your bravery in the face of danger is yielding fruit. We will continue to prioritize your welfare and provide the tools needed to stay ahead of these criminal syndicates.”

He urged Nigerians to remain vigilant, adding that “these victories belong to the citizens who provide the intelligence that fuels our operations.”

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