News

Ilobu Killing: Osun APC, Adeleke’s campaign council exchange blame

Published

2 months ago

June 24, 2026

Preport

The death of a 14-year-old boy in Ilobu, Osun State, has sparked a fresh war of words between the All Progressives Congress, APC, and the Imole Campaign Council, with both sides accusing each other of politicising the tragedy ahead of the forthcoming governorship election.

A teenager, identified as Ezekiel Olapade, was reportedly killed during a shooting incident on Sunday near the Irepodun Local Government Secretariat, Ilobu, with another person also injured during the attack.

The incident has generated widespread concern in the state and intensified political tensions, as rival political parties continue to trade accusations over the circumstances surrounding the killing and the reactions that followed.

The APC, in a statement issued on Tuesday by its Director of Media and Information, Kola Olabisi, criticised Governor Ademola Adeleke’s visit to the bereaved family, alleging that the occasion was transformed into a political event.

According to Olabisi, “the governor should have focused solely on mourning with the family rather than making remarks that the party interpreted as political in nature.

“Such an occasion for strictly mourning the young lad was inappropriate for Governor Adeleke to have turned it to a campaign ground, as it could be likened to the state chief executive doing the wrong thing at the wrong time and wrong place,” he said.

The opposition party also questioned the governor’s comments regarding the incident, arguing that it was improper to attribute responsibility for the killing before the conclusion of police investigations.

Olabisi stated, “It didn’t add up and unexpected of a worthy chief executive to have bypassed the police in their investigation when he named the opposition party as being responsible for the killing.”

The APC alleged that there were contradictions in the governor’s position after he reportedly called for a police investigation while simultaneously expressing views on those responsible for the attack.

Meanwhile, the Imole Campaign Council dismissed the APC’s allegations and accused the opposition party of attempting to exploit the teenager’s death for political advantage.

In a statement signed by its spokesperson, Pelumi Olajengbesi, the council expressed concern over what it described as an increase in political violence in Osun State and called on all political actors to exercise restraint.

Olajengbesi said the loss of innocent lives should unite stakeholders in the pursuit of peace rather than deepen political divisions.

“The recent escalation of political violence in Osun is a threat to us all. The loss of innocent lives has no place in a civil society. Democracy cannot thrive where citizens live in fear,” he said.

The council also urged security agencies, including the Inspector-General of Police, to ensure that all residents receive equal protection regardless of political affiliation and warned against selective enforcement of the law.

Olajengbesi maintained that electoral contests should be determined through public support and democratic participation, adding, “Democracy demands persuasion, not coercion.

Political parties should compete with ideas, policies, and performance, not with conduct that threatens public peace and safety.”

The controversy followed allegations by the deceased’s father, Gbenga Olapade, who claimed that his son was struck by a bullet while trying to assist his mother during the chaos.

He also alleged that armed men opened fire near a palm wine bar owned by his wife and the deceased teenager’s mother and that security personnel at the scene failed to intervene as the attackers arrived.

Related Topics:Adeleke APC Ilobu Killing osun

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Business

NSIA Insurance Grows Revenue by 18% to ₦33bn, Divests Life Insurance Portfolio

Published

23 minutes ago

August 31, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—NSIA Insurance Limited one of Nigeria’s most recapitalised insurance company, on Monday released its financial statement for the year ended 31st December, 2025 with 18 percent growth in revenue.

The Chairman of the company, Dr. Adesegun Akin-Olugbade, disclosed this today during a press briefing that revenue grew to ₦33 billion in 2025, representing an 18 percent growth over N30.1 billion reported in the previous year.

Profit after tax stood in excess of ₦2 billion while total assets stood at ₦53 billion.

Committed to prompt claims payment, he said the company paid a total of ₦18 billion in claims in 2026, bringing its cumulative claims payout over the last four years to ₦47.9 billion.

Speaking further on just concluded recapitalization, he said “At the AGM, the shareholders ratified the capitalisation of N6 billion from retained earnings, increasing the company’s issued share capital from N9 billion to N15 billion through a bonus issue of two new shares for every three shares held, this strengthened the company’s capital base without requiring any additional investment from shareholders and ensured full compliance with the Nigerian Insurance Industry Reform Act of 2025.

This achievement according to him was driven by sustained financial performance, with shareholders’ funds growing by 74.3 percent from N13.6 billion in 2021 to 23.7 billion in 2025, supported by cumulative profit after tax of over N9.3 billion during the period.

The move he said will strengthened the company’s capital base without requiring additional investment from shareholders, while ensuring full compliance with the Nigerian Insurance Industry Reform Act of 2025.

He noted that as part of its strategic repositioning,it has transitioned to operate exclusively as a non-life insurer, enabling the company to deepen its focus on general insurance.

He disclosed that its proposed transfer of its life insurance portfolio will be to CHI Consolidated Hallmark CHI Life Assurance Limited, and this, he said has received approval in principle from National Insurance Commission,(NAICOM), and will be completed upon the conclusion of the remaining legal and regulatory processes.

Looking ahead, he reassured that NSIA remains committed to disciplined underwriting, digital innovation, superior customer service, and sustainable value creation for its customers, shareholders, and the Nigerian economy.

Also, managing Director/CEO, of the company, Moruf Apampa, explained the company’s decision to divest its life insurance portfolio to CHI Life Assurance Limited.

According to him the decision was deliberate and designed to eliminate distractions that could hinder growth in the general insurance segment.

“We’ve decided to have a more focused strategy to drive our general business. By doing so, we’re able to scale better than before because there’s no distraction — we’re focused on driving the numbers,” he said.

He disclosed that a key part of the company’s strategy is to achieve deep household penetration across the country, targeting what he described as an “NSIA family” in every Nigerian home.

“For every householder in Nigeria, we must have an NSIA family. That’s very strategic for us, and it’s deliberate. That’s where we believe we can scale, and that’s what we intend to do deliberately over the next five years,” he said.

Highlighting the company’s strength in motor insurance, he said NSIA has built a claims process designed for speed, with dedicated teams inspecting claims and, in many cases, processing payment on the same day.

“When I say motor, I can conveniently tell you that if you report a claim today, we have a team that will inspect that same claim and give you feedback that same day. If possible, once you sign, you also receive your benefit that same day,” he said, adding that this reflects the kind of institution NSIA aims to be.

He stressed that the company prioritizes customers over profit, arguing that insurers should not celebrate strong profits while shortchanging policyholders on claims.

“We’re not putting profit before the customer — we’re putting the customer before the profit. How would you feel if we came here to announce a ₦3 billion profit, but only ₦2 billion was paid out as claims, while customers outside are complaining?” he asked.

According to him, consistent delivery of value to customers is what builds trust and repeat business in the insurance industry.

“It’s usually about the message, not the messenger, and the message is always right. By delivering value to the customer, that’s when they gain the confidence to come back, repeat their purchase, and tell others that insurance actually works,” he said.

The post NSIA Insurance Grows Revenue by 18% to ₦33bn, Divests Life Insurance Portfolio appeared first on Business Today NG.

News

A group funded by Andreessen, Horowitz, and Brockman plans data center ads to sway midterms

Published

25 minutes ago

August 31, 2026

Preport

GettyImages 1027979078 604311108 composite.jpg

A well-known, pro-AI super political action committee is behind a new group that plans to blast voters in key battleground states with ads advocating for data centers, several outlets are reporting.

That new group, called Build American AI, wants to convince citizens of the virtues of having data centers in their backyards. It says it is affiliated with Leading the Future (LTF), a super PAC heavily funded by VCs Marc Andreessen and Ben Horowitz, along with OpenAI President Greg Brockman.

Build American AI told Bloomberg it will focus its ads on Kansas, Ohio, and Wisconsin, where concerns about data centers have become a central theme in statewide elections. It said its ad budget is millions of dollars.

LTF launched with over $50 million in funding and has mostly used that money to donate to specific politicians, Politico reports. It supports candidates who advocate for AI, but it also works to oppose candidates who lobby against the technology, sources have told Politico.

LTF has become such a well-known, and not particularly beloved, force in AI-related election politics that OpenAI publicly distanced itself from it in a blog post in June.

“There have been questions around Leading the Future (LTF), which has received support from our President and co-founder, Greg Brockman, and his wife Anna,” OpenAI wrote. “OpenAI does not direct the activities of LTF, or have visibility into their operations.”

OpenAI also condemned some of LTF’s tactics, writing: “Groups that are advocating on AI should be clear about their policy views, be honest about whom they represent, and not use tactics like astroturfing that obscure the real choices facing policymakers and the public.” (Astroturfing means making a paid, organized campaign look like grassroots support.)

While LTF has gained attention in Silicon Valley, it is not the only super PAC pushing an AI agenda that is backed by big Valley names. Anthropic, for instance, is a known supporter of Public First Action, a group that backs AI regulation.

Meanwhile, Marc Andreessen and Ben Horowitz have been “spending on politics like no other” as The New York Times put it. By the outlet’s calculations, their venture firm, Andreessen Horowitz, is the biggest donor so far to the midterm elections, spending more than high-profile donors like Elon Musk and George Soros. The firm has spread over $115 million around so far in disclosed federal contributions. In addition to LTF and AI causes, it is also heavily supporting pro-crypto efforts, especially through the crypto super PAC Fairshake.

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