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Businessman sells assets to finance N23m cocaine deal, arrested at Lagos airport

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A 48-year-old businessman, Nwankwo Innocent Onyebuchi, has been arrested by operatives of the National Drug Law Enforcement Agency, NDLEA, at the Murtala Muhammed International Airport, MMIA, Lagos, while allegedly attempting to travel to New Delhi, India, with 1.550 kilograms of cocaine concealed in his luggage.

Onyebuchi, who deals in marbles in Lagos, was arrested at the departure hall of Terminal II of the airport while preparing to board a Qatar Airways flight to New Delhi.

According to a statement by the NDLEA, the cocaine was cleverly concealed within the side walls and railings of his check-in bag. A search of the luggage led to the discovery of the 1.550kg consignment, which had been factory-fitted into the walls and railings of the bag.

The agency said the arrest was made as part of its operations against the illegal drug trade.

During interrogation, Onyebuchi reportedly disclosed that he had sold his marble business and every asset he owned to raise the sum of ₦23 million which he paid for the cocaine consignment.

He reportedly planned to sell the drugs in India for as much as ₦100 million.

However, his plan to make quick money from the illicit drug trade was cut short by his arrest. He remains in custody pending prosecution.

The NDLEA also reported the seizure of a large quantity of codeine-based syrup in another operation carried out in Lagos.

Operatives acting on credible intelligence raided a warehouse located within a residential compound at 20 Hakeem Dosumu Street, Ago Palace area of Okota, Lagos.

The operation, conducted between Friday, August 7 and Saturday, August 8, 2026, resulted in the seizure of 3,776 cartons containing 377,600 bottles of the controlled substance.

The recovered codeine-based syrup was valued at more than ₦2.6 billion.

In another intelligence-led operation in Lagos, NDLEA operatives raided the residence of a 55-year-old alleged drug kingpin, Shoremi Kayode, at 37 Ogundare Street, Ipaja Estate, Ipaja area of Lagos.

The raid, conducted on Wednesday, August 14, resulted in the recovery of 324 kilograms of Colorado, a synthetic strain of cannabis, with a street value of ₦972 million.

Operatives also recovered a Mercedes-Benz car and a Toyota Corolla car from the suspect.

In Kwara State, two suspects, Abubakar Adamu, 50, and Bilyaminu Nuhu, 30, were arrested at the Kam Wire area of Ilorin on Thursday, August 13.

The suspects were arrested with 55.96kg of skunk in a truck marked DKA 350 XL.

Also in Oyo State, NDLEA officers on patrol along the Lagos-Ibadan Expressway in Ibadan arrested two other suspects, 70-year-old Abdulfatai Oyelaran and Abdulrauf Ajadi, 50, on Wednesday, August 12.

A search of their Toyota Sienna vehicle, marked FFA-115KA, led to the recovery of 52,000 ampoules of pentazocine injection and 6,000 ampoules of tramadol injection.

In another operation along the Onitsha/Asaba Expressway on Thursday, August 13, NDLEA operatives arrested two suspects, Osaro Ikpoba, 43, and Samuel Godbless, 18.

The agency said the suspects were found with 124,100 pills of tramadol, 786 bottles of codeine syrup, 2,598 tablets of rohypnol, 4,800 tablets of diazepam, 470 ampoules of pentazocine injection and 200 ampoules of tramadol injection.

Another suspect, Emeka Tony, 50, was arrested along the Kwale/Ozoro Expressway on Wednesday, August 12.

NDLEA operatives recovered 1,244 pieces of cartridges and a monetary exhibit of ₦8 million from him.

In Plateau State, a Toyota Corolla car with registration number MKD 341 EA was intercepted along the Riyom/Jos Road, Jos.

The operation led to the recovery of 239,490 capsules of Tramaforce, a brand of tramadol, while a suspect identified as Kasum Sherif was arrested.

Meanwhile, six suspects were arrested by NDLEA operatives on patrol along the Zaria-Kano Road in Kano State on Monday, August 10.

They were identified as Okodili Ibeabuchi, 60; Onyeka Vincent, 47; Nwanko Wisdom, 36; Success Chigozie, 30; Emmanuel Jude, 27; and Chinedu Peter, 39.

According to the agency, large consignments of opioids were recovered from the suspects, including 728,958 pills of tramadol, rohypnol and other substances.

The operatives also recovered 360 grams of cocaine, 99.8 grams of methamphetamine, 50 bottles of codeine syrup and 2.7 kilograms of Loud, a synthetic strain of cannabis.

In another operation in Kano, NDLEA operatives on Friday, August 14, raided Zawaciki Gida Dubu in Kumbotso Local Government Area.

The raid resulted in the recovery of 171 blocks of skunk weighing 106.8kg.

Two suspects, Mustapha Iliya, 30, and Abdulwahab Abdulrashid, 24, were arrested in connection with the seizure.

In Edo State, NDLEA operatives destroyed a total of 4,628.9775kg of skunk found on two cannabis farms measuring 1.851591 hectares at Ugboku/Igbanke forest in Orhionmwon Local Government Area.

A suspect, Agholor Elebojie, 40, was arrested in one of the farms during a raid carried out by NDLEA operatives on Wednesday, August 12.

Also in Edo, another suspect, Kingsley Anigala, 28, was arrested during a raid on drug joints in the Oluku area of Benin City on Friday, August 14.

The agency said 25.857kg of Loud and 93 grams of methamphetamine were recovered from him.

The Chairman and Chief Executive Officer of the NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd), commended the officers, men and women of the MMIA, Lagos, Kano, Kwara, Edo, Plateau, Oyo and Delta Commands for the arrests and seizures recorded during the week.

Marwa also praised personnel of other commands across the country for maintaining what he described as a fair balance between efforts to reduce the supply of illicit drugs and efforts to reduce demand for them.

“Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) also praised their counterparts in all the commands across the country for pursuing a fair balance between their drug supply reduction and drug demand reduction efforts,” the statement said.

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Oyo 2027: Civil servants wait for seven to 10 years before receiving entitlements – ADC guber candidate

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Gubernatorial candidate of the Action Democratic Congress, ADC, in Oyo State, Chief Adegboyega Adegoke, has said that retired civil servants in the state usually wait for seven to 10 years before receiving their entitlements.

Adegoke lamented that the majority of retired civil servants in the state usually wait for seven to 10 years before they receive their gratuities.

He added that the majority of them wait for months before their enrolment for payment of pensions.

Adegoke described the situation as worrisome and unfortunate.

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The ADC gubernatorial candidate made these revelations while addressing the people of Oyo East, Oyo West, Atiba and Afijio local government areas of the state on Monday.

The event was attended by hundreds of chieftains and members of the party from the four local government areas.

Adegoke, while addressing the gathering, faulted what he described as an archaic method of pension and gratuity payments in the state.

He said that this is the reason the majority of retired civil servants are not getting their entitlements on time.

He added that a situation where those who retired from the civil service have to wait for years before receiving their entitlements should be abolished.

Adegoke, while speaking on his plans to rescue the situation, explained that retired civil servants will be enrolled in the pension scheme the month following their retirement.

He said, “It is sad that retired civil servants often wait for seven to 10 years before they receive their gratuities and several months before they are enrolled for pension. We will change all that.

“Before retirement, the process of gratuities would have started so that they can immediately benefit upon retirement. Also, a few months to retirement, the process for placement on pension payment will be worked out and upon retirement the retirees would immediately enjoy their pension.”

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Otedola speaks on FirstHoldCo’s inclusion in FTSE Frontier 50 Index

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The Chairman of First HoldCo Plc, Femi Otedola, has described the company’s inclusion in the FTSE Frontier 50 Index as a “defining milestone” in the evolution of the financial services group.

FirstHoldCo is scheduled to join the FTSE Frontier 50 Index, a benchmark tracking leading and investable companies across frontier markets, effective 21 September 2026.

The inclusion places FirstHoldCo among six Nigerian companies represented in the index. It is expected to strengthen its visibility among global institutional investors seeking exposure to Nigeria and other frontier markets.

Mr Otedola, in a statement issued on Monday, said the development affirmed the transformation the company is undertaking and the confidence investors continue to place in the institution.

“Our inclusion in the FTSE Frontier 50 Index is a defining milestone in FirstHoldCo’s evolution.

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“It affirms the transformation we are driving, the confidence investors continue to place in our institution, and the strength of our governance and business model.

“We remain focused on building a stronger, more profitable and globally competitive financial services group, while delivering superior and sustainable value to shareholders,” he said.

The FTSE Frontier 50 Index comprises companies that meet stringent requirements relating to market capitalisation, liquidity, free float, governance and investability.

FirstHoldCo said its inclusion followed a period of strong market performance and sustained investor interest, supported by improved financial results, strategic execution, enhanced governance and its focus on long-term shareholder value.

The company said the development was more than an index listing, describing it as an independent recognition of its scale, governance standards, market depth and long-term value proposition.

It said the inclusion could also lead to deeper liquidity, increased participation by institutional investors and greater access to global capital.

Asset managers, exchange-traded funds, pension funds, and other investors that track frontier-market opportunities are expected to take a greater interest in the company as a result of its inclusion in the index.

The development comes after FirstHoldCo said it had met the Central Bank of Nigeria’s minimum capital requirement.

The group said it remained focused on strengthening its capital base, improving financial resilience and creating capacity for accelerated growth.

Its strengthened balance sheet, expanding shareholder base and focus on disciplined execution, it said, would enable it to compete at a greater scale across its businesses.

The Group Managing Director of FirstHoldCo, Wale Oyedeji, said the achievement reflected the commitment and execution of the company’s board, management and employees.

READ ALSO: FirstHoldco, Dangote, four other Nigerian companies admitted to FTSE’s 50 most liquid frontier market stocks

“This achievement reflects the discipline, commitment and execution focus of our Board, Management and employees.

“It validates the progress we have made in strengthening performance, enhancing operations and positioning FirstHoldCo for sustainable growth,” Mr Oyedeji said.

According to him, the inclusion would elevate the company’s visibility among global institutional investors and reinforce its ambition to become a leading African financial services provider.

FirstHoldCo said it would continue to invest in digital transformation, customer experience, innovation and responsible business practices while maintaining its focus on sustainable growth and stakeholder value.

The company also said its emphasis on environmental, social and governance principles, workplace excellence and operational efficiency would further strengthen institutional confidence in the group.

With global investors becoming increasingly selective in allocating capital to frontier markets, FirstHoldCo said its inclusion in the index represented a significant recognition of its fundamentals, governance credentials, liquidity and growth trajectory.


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