News

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

Published

1 day ago

August 16, 2026

Preport

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.

News

IASC Above45: ‘I Took After Rashidi Yekini’ – Jokesman Reveals

Published

1 hour ago

August 17, 2026

Preport

WhatsApp Image 2026 08 17 at 2.03.09 PM.jpeg

Barrister Chijioke Iziolu Jokesman has attributed his impressive goalscoring instincts to confidence, discipline, and the influence of late Nigerian striker Rashidi Yekini, following another standout performance in the Island All Stars Above 45 Football Tournament.

Jokesman was on target again for his team, producing another quality finish despite carrying a groin injury that had already affected him in the opening game of the tournament.

Reflecting on the encounter, the veteran attacker described it as an interesting contest, while admitting that his team was missing several key players.

“It was a very interesting game even though most of our players were not around. Our midfield wasn’t together, but we give God the glory for the result,” he told SPORTS247.

Jokesman also stressed the importance of sportsmanship, insisting that football should always be played in the right spirit.

“Most of my goals are classy goals, but it is just a game. Fair play is what we preach in every game,” he added.

The experienced forward revealed that his groin problem from the first match had not completely healed before he featured again.

“In the first game, I had a groin after scoring. I tried to manage it but was substituted. Today, the groin wasn’t fully healed, but I wanted and needed to play,” he explained.

The injury returned after he scored, forcing another substitution. Jokesman believes his absence subsequently affected his team’s attacking threat but remains optimistic about returning fully fit for future competitions.

“I pray that by the next tournament, my leg will be perfectly okay, and you will see what we can do,” he said.

‘I Took After Rashidi Yekini’

Asked about the thinking behind what has been described as one of the best goals of the tournament, Jokesman revealed his confidence in his positioning and finishing ability.

“I knew once my positioning was right, the ball would enter the back of the net. I’m a good striker and confident with my abilities if there are people to feed me with the ball,” he said.

Drawing comparisons with Nigeria’s legendary goalscorer, Jokesman added: “I think I took after Rashidi Yekini. I believe strongly that an attacker must be able to shoot.”

He explained that his ability to strike with both feet remains one of his major strengths.

“My strength is in my shot, and I make use of both feet — left and right. Once the ball is right, I can strike from any angle,” he stated.

At almost 54, Jokesman believes his longevity is a product of discipline and urged younger footballers to maintain healthy lifestyles, train properly, and avoid habits that could undermine their careers.

He advised aspiring strikers to embrace discipline, self-restraint, proper training, and adequate rest, insisting that with the right attitude, “the sky is your limit.”

Business

NGX Trading Volume Surges 127% as Investors Exchange ₦176.06bn in One Week

Published

2 hours ago

August 17, 2026

Preport

Trading activity on the nations bourse recorded a sharp increase in the week ended August 14, 2026, as investors exchanged 12.153 billion shares valued at ₦176.058 billion across 224,146 deals.

The performance represents a 126.8 percent increase in traded volume compared with the 5.359 billion shares worth ₦139.053 billion exchanged in 261,869 deals in the previous week. Turnover value also increased by 26.6 percent, while the number of deals declined by about 14.4 percent.

The increase in activity was also reflected in other trading indicators. Market depth improved to 27.76 percent from 21.67 percent in the previous week, while average daily value traded rose to ₦35.21 billion from ₦27.81 billion.

The Financial Services Industry dominated market activity, accounting for 11.212 billion shares valued at ₦88.991 billion across 102,246 deals. The sector contributed 92.25 percent of total equity turnover by volume and 50.55 percent by value.

The Information and Communication Technology (ICT) Industry followed with 246.127 million shares worth ₦51.605 billion traded in 27,169 deals, while the Services Industry ranked third with 198.195 million shares valued at ₦1.995 billion across 13,747 deals.

Activity was particularly concentrated in three equities; Fortis Global Insurance Plc, Cornerstone Insurance Plc and Consolidated Hallmark Holdings Plc. The trio accounted for 9.488 billion shares worth ₦36.219 billion in 1,781 deals, representing 78.07 percent of total equity turnover volume and 20.57 percent of turnover value for the week.

The fixed-income segment also recorded increased activity, with investors trading 232,979 units valued at ₦226.258 million in 35 deals, compared with 117,372 units worth ₦121.249 million in the previous week.

In the Exchange Traded Products segment, 2.346 million units valued at ₦501.051 million were traded across 5,291 deals.

Despite the surge in trading activity, the broader equities market closed lower as investors took profits following recent gains. The NGX All-Share Index declined by 1.20 percent to 242,619.20 points, while market capitalisation fell by 1.19 percent to ₦156.624 trillion.

Market breadth, however, showed some improvement. 26 equities appreciated during the week, unchanged from the previous week, while the number of declining equities eased to 59 from 63. 62 equities closed unchanged, compared with 58 in the preceding week.

The market breadth ratio consequently improved to 0.69x from 0.62x in the previous week, indicating a narrower gap between gainers and decliners despite the decline in the benchmark index.

Trans-Nationwide Express Plc led the gainers’ chart with a 32.09 percent increase, followed by International Energy Insurance Plc, which advanced 31.68 percent, and Sovereign Trust Insurance Plc, which gained 13.77 percent. On the other side, AVA Capital Plc topped the losers’ chart with a 34.55 percent decline, followed by Unilever Nigeria Plc, down 18.94 percent, and Zichis Agro Allied Industries Plc, which shed 15.08 percent.

Meanwhile, Lasaco Assurance Plc expanded its share capital following the listing of 9.236 billion additional ordinary shares on the NGX Daily Official List on Wednesday, August 12, 2026.

The additional shares arose from the company’s rights issue of five new ordinary shares for every six existing shares held as of February 20, 2026. Following the listing, Lasaco Assurance’s issued and fully paid-up share capital increased from 11.084 billion shares to 20.320 billion ordinary shares of 50 kobo each.

Despite the week’s moderation, the broader market remains firmly positive for the year, with the NGX All-Share Index recording a year-to-date return of 55.91 percent as of August 14.

Sectoral performance has been even stronger in parts of the market, with the NGX Oil and Gas Index up 94.81 percent year-to-date, followed by the NGX Premium Index at 85.14 percent and the NGX Industrial Goods Index at 82.84 percent, underscoring the strength of the market’s gains despite the week’s profit-taking.

The post NGX Trading Volume Surges 127% as Investors Exchange ₦176.06bn in One Week appeared first on Business Today NG.