Business
How NDLEA intercepts Chinese grandma with 31.0Kg of drug consignment at Lagos airport
BY NKECHI NAECHE-ESEZOBOR—-A 63-year-old Chinese grandma Ting Hung Kiong has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) following her attempt to smuggle large consignment of Canadian Loud, a synthetic strain of cannabis into Nigeria.
The female Chinese national who naturalised in Malaysia was arrested on Sunday 17th May 2026 upon her arrival in Nigeria from Thailand via Dubai, UAE, aboard an Emirates Airline flight. She was intercepted by NDLEA operatives attached to the Terminal 2 Arrival Hall of the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos.
Investigation revealed that the suspect travelled from Malaysia to Thailand and subsequently to Nigeria via the UAE with two large travel boxes containing the synthetic cannabis consignment weighing 31.0 kilograms.
During an interview, the 63-year-old suspect who claims she works as a caregiver in Malaysia stated that her daughter sponsored her trip from Malaysia to Thailand and subsequently to Nigeria.
She further disclosed that she spent two weeks in Thailand, before she was handed the illicit consignment at the Thailand airport to deliver in Nigeria.
Meanwhile, another major shipment of illicit drug consignment has been recovered at the import shed of the Lagos airport. Following close monitoring of the consignment by NDLEA operatives since its arrival from India aboard an Emirates Cargo flight, the 29 large cartons containing One Million, Eight Hundred and Twenty-Five Thousand, Seven Hundred and Ten (1,825,710) tablets of Tapentadol 250mg, worth Two Billion, One Hundred and Ninety Million, Eight Hundred and Fifty-Two Thousand Naira (N2,190,852,000) were eventually handed over to the NDLEA by the Customs Service on Friday 22nd May 2026.
In another successful interdiction operation, NDLEA operatives at the Akanu Ibiam International Airport, Enugu on Wednesday 20th May intercepted a suspect Onyeka Valentine Emeka during the inward clearance of passengers on Ethiopian Airlines flight from Sierra Leone via Addis Ababa, Ethiopia. When placed under observation, the suspect excreted a total of 185.36 grams of cocaine.
At the Nnamdi Azikiwe International Airport, Abuja, a 29-year-old building engineer, Babatunde Prosper Afekhide was on Wednesday 21st May arrested by NDLEA operatives while attempting to board an Ethiopian Airlines flight from Abuja via Addis Ababa to Milan Malpensa, Italy.
A search conducted on his luggage led to the recovery of 10,280 pills of Tramaking 225mg; Tramadol 200mg and Tapentadol 250mg. The opioids were concealed using foil paper and hidden inside a carton, in a suitcase, obviously to evade detection.
In yet another operation at a courier company in Lagos, NDLEA operatives intercepted 1,174 pills of MDMA (Ecstasy) concealed in bicycle luggage carrier heading to Netherlands; 66 pills of tramadol 225mg hidden in soap container going to the United States and 18 tablets of tramadol 225mg concealed in body cream container heading to the United Kingdom.
In Edo state, NDLEA operatives acting on intelligence raided Igwe community in Owan East LGA where a total of 59 jumbo bags of skunk weighing 489kg and cannabis seeds weighing 9kg were recovered.
While a suspect Isah Sani, 30, was nabbed with 196,000 pills of exol-5 on Wednesday 20th May along Zaria/Kano road, Kano state, NDLEA officers at Seme border, Badagry area of Lagos recovered 59kg skunk from a warehouse in Mowo, Badagry on Tuesday 19th May.
Another operational success was recorded in Ekiti state where NDLEA operatives on Saturday 23rd May raided a warehouse located at N/56, Ikoyi community, Ikole-Ekiti and recovered 1,116 kilograms of skunk, while 54-year-old suspect Ogundana Adebayo Julius was arrested in connection with the seizure.
With the same zeal, Commands and formations of the Agency across the country continued their War Against Drug Abuse (WADA) sensitization activities in schools, worship centres, work places and communities among others in the past week.
These include: WADA enlightenment lecture to students and staff of Command Day School, Mokola, Ibadan, Oyo state; Girls Secondary School, Amenyi, Anambra; Matazu Model Primary School, Matazu LGA, Katsina; C&S Primary School, Majidun, Ikorodu, Lagos; Alufo High School, Apugo, Enugu; Aramoko District Commercial Secondary School, Aramoko Ekiti; and Government Girls Secondary School, Kurna, Kano state, among others.
While commending the officers and men of MMIA, NAIA, AIIA, Edo, Ekiti, Seme, and Kano Commands as well as those of DOGI for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) noted their drug supply reduction efforts balanced with WADA sensitization activities while he charged them and their compatriots across the country to continue to raise the operational bar.
The post How NDLEA intercepts Chinese grandma with 31.0Kg of drug consignment at Lagos airport appeared first on Business Today NG.
Elon Musk, the world’s richest person, has attained trillionaire status after SpaceX, the rocket, AI and satellite communications company established by him, turned a soaraway success on its first trading day, surging 20 per cent to $2.1 trillion in valuation.
SpaceX’s shares closed at $161 on the Nasdaq on Friday, compared to its initial public offering (IPO) price of $135, making it the biggest-ever stock market debut.
The IPO had earlier raised $75 billion from investors and the underwriters of the transaction before the listing.
“Liftoff! First $SPCX trade complete,” Space X wrote on X (formerly Twitter), which Mr Musk also owns.
The 54-year old now has a total net worth of $1.1 trillion, according to the Bloomberg Billionaires Index, with its stake in SpaceX standing at 42 per cent or $767.1 billion as of Friday.
SpaceX debuted with a valuation of around $1.8 trillion. Its valuation at the end of Friday’s trade makes it the sixth-largest publicly traded company in the United States.
Trading under the ticker symbol “SPCX,” SpaceX began trading shortly before noon, attracting strong investor demand.
The listing places SpaceX among the world’s most valuable companies, despite the firm reporting a loss of nearly $5 billion last year and generating significantly less revenue than many technology giants with comparable valuations.
“I gave SpaceX a 10 per cent chance of succeeding at all,” Mr Musk said shortly before the company was listed.
SpaceX, since its establishment in 2002, has evolved from an experimental rocket startup into a dominant player in aerospace, satellite communications, and AI-related infrastructure.
READ ALSO: Elon Musk announces formation of American Party
Starlink, its satellite internet business, has expanded SpaceX beyond rocket manufacturing into a broader technology and connectivity platform.
Mr Musk, who now controls several companies, including Tesla, SpaceX, xAI, and X, began building his wealth by co-founding Zip2 and PayPal.
After completing the acquisition of X in October 2022 in a deal worth $44 billion, Mr Musk introduced monetisation features on the platform, which contributed to the growth of his business empire.
After selling Zip2 and later PayPal, he reinvested much of his earnings into Tesla, SpaceX, and other ventures.
Mr Musk’s wealth is now nearly equivalent to the entire economic output of Switzerland or Poland.
BY NKECHI NAECHE-ESEZOBOR—The National Pension Commission (PenCom) has received a four-member delegation from Kenya’s Retirement Benefits Authority (RBA) for a four-day technical study visit in Abuja, solidifying Nigeria’s position as a leading reference point for pension reform and regulatory innovation across the African continent.
The Kenyan delegation, led by John Keah, Director of Market Conduct and Industry Development at the RBA, is visiting Nigeria from June 8 to 11, 2026, to understudy PenCom’s regulatory and supervisory frameworks.
Keah noted that the engagement highlights the critical role of cross-border learning among African regulators aiming to optimize retirement systems and improve pension outcomes for citizens. He added that structural similarities between the two nations’ pension landscapes make Nigeria’s journey highly relevant to Kenya’s ongoing domestic reforms.
The RBA delegation is focusing its study on PenCom’s Environmental, Social, and Governance (ESG) initiatives, its risk-based supervision framework, and its strategies for expanding pension coverage to both the informal sector and the diaspora.
Keah particularly lauded the governance safeguards within Nigeria’s pension system and described the Diaspora Pension Arrangement as an innovative milestone capable of reducing old-age poverty and enhancing long-term retirement security.
Welcoming the delegation, the Director General of PenCom, Ms. Omolola Oloworaran, reiterated Nigeria’s dedication to regional collaboration and knowledge exchange. Represented by the Director of the Surveillance Department, Abdulrahaman Muhammad Saleem, the Director General revealed that pension assets under management in Nigeria have grown to over ₦32 trillion, representing approximately 10.4 percent of the nation’s Gross Domestic Product (GDP).
This growth, she noted, stems from continuous regulatory reforms, heightened governance standards, and rigorous supervisory mechanisms established since the inception of the Contributory Pension Scheme (CPS) in 2004.
Ms. Oloworaran also highlighted the Federal Government’s recent settlement of outstanding accrued pension rights liabilities as a historic turning point for the CPS.
The intervention, executed through the issuance of a Federal Government bond, effectively resolved a prolonged funding backlog that had previously delayed retirement benefits for public sector employees within Treasury-Funded Ministries, Departments, and Agencies (MDAs).
Under the new framework, accrued rights are transferred directly into retirees’ Retirement Savings Accounts (RSAs), granting immediate access to investment returns and eliminating lengthy waiting periods.
The technical visit, anchored on the theme “Risk-Based Supervision and ESG Integration in Pension Funds,” includes interactive departmental presentations, study tours to selected Pension Fund Administrators (PFAs), and collaborative sessions on emerging risks.
Both regulatory bodies expect the engagement to deepen bilateral cooperation and foster resilient, inclusive, and sustainable pension architectures across East and West Africa.
The post Nigeria’s Pension Assets Top ₦32tn as Kenyan Regulator Understudies Reforms appeared first on Business Today NG.
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