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NDLEA intercepts large cocaine consignment concealed in heads of dry stock fish

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A large consignment of cocaine concealed in heads of imported dry stock fish has been intercepted by operatives of the National Drug Law Enforcement Agency (NDLEA) who also arrested a key member of the syndicate involved in shipping the illicit substance across the world especially to India.

The smashing of the drug syndicate followed intelligence on their trans-border criminal activities. This led to a well-coordinated sting operation by operatives of the Murtala Muhammed International Airport (MMIA) Strategic Command of the Agency at the Ojo area of Lagos on Thursday 19th March 2026. In the course of the operation, three jumbo size bags were found in possession of the kingpin 36-year-old Akputa Dickson Ejike.
A search of the bags led to the recovery of Two Hundred and Thirty-Seven (237) wraps of cocaine buried in the heads of imported dry stock fish locally known as “Okporoko.” The cocaine pellets have a gross weight of 5.80 kilograms. The consignment was intended for export to Delhi, India.
In another operation in Lagos, NDLEA operatives of the Directorate of Operations and General Investigation (DOGI) on Wednesday 25th March intercepted two illicit consignments heading to the United Kingdom at a courier company. In one of the shipments that originated from Cotonou, Benin Republic, 1.9 kilograms of methamphetamine were found concealed in automobile filters while the second parcel contains 40 ampoules of Morphine Sulphate and nine ampoules of Fentanyl.
In yet another major interdiction operation, operatives of a Special Operations Unit of the Agency on Thursday 26th March raided the house of a female head of a notorious drug syndicate, 46-year-old Omolade Abigail Jolayemi at 13 Carter street, Yaba, Lagos where they arrested her and her sales girl, Sarah Zainab Agbabiaka, 31. No fewer than 135 blocks of Ghana Loud, a strain of cannabis weighing 76.30kg, were recovered from them. Omolade popularly known as Iya Ghana, trades in local fabric on the surface but beneath she runs a drug distribution network between Nigeria and Ghana.
Same day, the SOU operatives also arrested Anayo Lucky Ohabiro, 39, at Doyin bus stop, Surulere, Lagos following credible intelligence. A total of 78 blocks of Ghana Loud weighing 41kg were seized from him.
In Ekiti state, an 80-year-old grandpa, Oke Samuel, was on Thursday 26th March arrested by NDLEA operatives during a special raid operation at Mosafuneto camp, Erinmo road, Efon-Alaaye Ekiti. A total of 2.2kg skunk and 1.8grams of methamphetamine were recovered from him, while 894.72kg of same psychoactive substance was seized from another suspect, Enuwa Kehinde Kingsley, 37, when an uncompleted building was raided by NDLEA officers at Ogbese, in Akure North area of Ondo state same day.
Not less than 116.7kg skunk was recovered from a suspect, Saater Nyam, 35,
during a raid operation at Pevi village, Guma LGA, Benue state, on Tuesday 24th March, while in Edo state, NDLEA operatives on Monday 23rd March uncovered a warehouse in Ekpoma town, Esan West LGA, leading to the arrest of a suspect, Felix Donald, 25, and the seizure of 576.5kg skunk and 33 bottles of codeine-based syrup.
In Taraba state, NDLEA officers acting on credible intelligence on Tuesday 24th March intercepted a truck marked DUT 457 ZB, conveying 100 blocks of compressed skunk weighing 135 kilograms concealed in bags of animal feed from Garbachede to Gombe state. Two suspects: Osama Mamuda, 21, and Auwal Umar, 22, were nabbed in connection with the seizure.
The War Against Drug Abuse (WADA) social advocacy activities by NDLEA Commands equally continued across the country in the past week. Some of them include: WADA sensitization lecture delivered to students and staff of Community Secondary School, Itigidi, Abi LGA, Cross River; Government Girls Secondary School, Yola, Adamawa; Islamic High School, Igbeti, Oyo state; Gidan Sarki Primary School, Kano, and Royal Legends Academy, Ibeshe, Ikorodu, Lagos state, among others.
While commending the officers and men of MMIA, SOU, DOGI, Ekiti, Ondo, Benue, Edo and Taraba Commands of the Agency for the arrests and seizures of the past week, 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.

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Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

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BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

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FG debunks claims of plans to introduce telecoms, fuel taxes

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The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

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Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

READ ALSO: NRS launches Rev360 to ease tax compliance

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.

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