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NDLEA uncovers illicit drug consignments in water purifier machines from Europe
Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered consignments of high potency illicit drugs concealed in water purifier machines shipped to Lagos from Netherlands.
The illicit drug consignments, mainly: ketamine weighing 3kilograms and 199 grams of MDMA (Ecstasy) pills which were carefully hidden in the water purifier machines, were discovered and seized at a courier company in Lagos on Tuesday 26th May 2026.
In Kaduna, NDLEA operatives arrested a couple: Musa Sunday and Mercy Sunday, along with another suspect, Salomi Ezekiel, 38, following the seizure of 100 jumbo bags of skunk with a gross weight of 1,246 kilograms from their home at Gonin Gora area of Kaduna on Sunday 24th May. In another interdiction operation in the state, NDLEA officers on patrol along Abuja-Kaduna highway by Jere, same day, intercepted a 30-year-old suspect, Sunusi Musa, with 380 military-grade ammunition, RLA 7.62mm, going to Katsina state. The suspect and the exhibit have since been handed over to the appropriate security agency for further action.
Meanwhile, NDLEA operatives in Niger State acting on credible intelligence raided a warehouse at Gidan Kukah, Bosso LGA where 457 kilograms of skunk were recovered on Wednesday 27th May and a suspect, Godwin Zakka, 46, arrested at his Gbeganu, Minna residence in connection with the seizure.
In Enugu, operatives on patrol along Onitsha/Enugu expressway on Thursday 28th May intercepted a Taraba state-bound commercial vehicle marked JAY-158-YF. A search of the bus led to the recovery of 22,000 pills of tramadol, 100 ampoules of pentazocine and 200 grams of bromazepam while a suspect James Maigari Wisdom was arrested.
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 for students and staff of Government Secondary School, Adiabo, Cross River; St Patrick’s Memorial College, Wukari, Taraba; Roman Catholic Mission Nursery and Primary School, Ibeju Lekki, Lagos; and Kings Secondary School, Amawbia, Anambra state, among others.
While commending the officers, men and women of Kaduna, Niger, and Enugu Commands as well as those of DOGI for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) appreciated their drug supply reduction efforts balanced with WADA sensitization activities while he charged them and their compatriots across the country not to rest on their laurels.
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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.
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.
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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