Business
Ogun Police Arrest Security Guard for Alleged Theft of Company Spare Parts
BY SUNDAY SAMUEL—Operatives of Owode-Egba Division of the Ogun State Police Command have arrested a 32-year-old security guard, Friday Ayuba, for allegedly stealing motor spare parts belonging to his employer at Ita-Asu Village, via Owode-Egba.
The arrest followed a report received at the Division on 30th May 2026 at about 6:00pm from the manager of the affected company, who informed the police that the suspect had earlier been apprehended by operatives of the Quick Response Squad (QRS), Ogun State Command, at the Sagamu Interchange axis along the Lagos-Ibadan Expressway while allegedly attempting to move company property without authorization.
Preliminary investigation revealed that the suspect, an employee of the company, was found in possession of several motor spare parts suspected to have been unlawfully removed from the company’s premises. The recovered items include four air controls, two air boosters, two engine seats, and two fuel pumps, all identified as property of the company.
During the course of investigation, the suspect reportedly admitted to the theft. Detectives promptly visited the scene for further investigation and documentation, while the recovered items were secured as exhibits.
The suspect remains in police custody as investigations continue. He will be charged to court upon the conclusion of the investigation.
The Commissioner of Police, Ogun State Command, CP Bode Ojajuni, psc, FCSS, MNIPR, commended the vigilance of the company management and the swift, coordinated response of the Quick Response Squad and officers of Owode-Egba Division, which led to the successful recovery of the stolen property and the apprehension of the suspect.
The CP reiterated the Command’s commitment to protecting businesses, critical assets, and residents across the State through intelligence-led policing and proactive crime prevention strategies. He further urged employers and members of the public to remain security conscious and promptly report suspicious activities to the nearest police formation or through the Ogun State Police Command emergency lines: Gateway Shield (Toll-Free): 0800 000 9111; Emergency Lines: 0906 283 7609, 0912 014 1706, 0915 102 7369, 0708 497 2994.
The post Ogun Police Arrest Security Guard for Alleged Theft of Company Spare Parts appeared first on Business Today NG.
Nigerian stocks reported a modest gain last week, appreciating by 0.3 per cent as the market only ran limited trading sessions on account of the public holidays commemorating Eid el Adha celebrations.
The advance was largely driven by increased demand for oil and gas stocks.
The main equity index has returned 60.9 per cent year to date, with just five months gone in 2026.
“From a technical standpoint, the market’s 10-day RSI moderated further to 71.47pts (vs. 78.93pts in the prior week), indicating that while the market remains in overbought territory, momentum has continued to ease, thereby reducing the intensity of previous overheating concerns and creates room for fresh buying interest to emerge,” said analysts at Meristem Securities in their outlook for the week.
PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.
The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.
This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.
Sterling Bank
Sterling Bank tops this week’s pick on the basis of its strong fundamentals and for trading below its intrinsic value. The financial institution’s net profit ratio (NPR) is 16.4 per cent, while the price-to-earnings (PE) ratio is 5.1x. Its RSI is 53.4.
Coronation Insurance
Coronation Insurance makes the selection by virtue of its strong fundamentals. The NPR of the underwriter is 9.2 per cent, while the PE ratio is 9x. Its relative strength index (RSI) is 49.3.
Nascon Allied Industries
Nascon appears on the pick on the basis of its robust fundamentals. The NPR of the company is 22 per cent, while the PE ratio is 17.7x. The RSI is 66.1.
Aradel Holdings
Aradel makes the selection on the basis of its strong fundamentals. The NPR of the energy firm is 57.5 per cent, while the PE ratio is 21.5x. Its RSI is 67.8.
MTN Nigeria
MTN Nigeria makes the cut by virtue of its strong fundamentals. The NPR of the telco is 23.7x, while the PE ratio is 12.9. The RSI is 53.3.
BY SUNDAY SAMUEL—The Lagos State Police Command has debunked a viral video circulating on social media which purportedly shows the recent arrest of Fulani men allegedly found with arms and ammunition in Ikorodu, describing the footage as old and misleading.
In a statement issued on Saturday, the Police Public Relations Officer, SP Abimbola Adebisi, said the video was from an incident that occurred more than three years ago and does not reflect the current security situation in Ikorodu or any part of Lagos State.
According to the command, the recirculation of the outdated video as a recent event is capable of creating unnecessary panic, fear and apprehension among residents.
“The Lagos State Police Command wishes to state unequivocally that the video currently circulating on social media platforms depicting the arrest of some Fulani men allegedly found in possession of arms and ammunition in Ikorodu is an old clip of an incident that occurred over three years ago,” the statement said.
The command urged members of the public to disregard the video and refrain from sharing unverified information capable of undermining public confidence and peace.
It also warned social media users and content creators against disseminating false, unverified and alarmist content that could trigger public disorder, stressing that individuals found deliberately spreading misinformation or fake news would be investigated and prosecuted in accordance with the law.
Meanwhile, the Commissioner of Police, Lagos State Command, CP Tijani Fatai, has directed sustained deployment of personnel and operational assets to identified black spots, strategic locations and entry and exit points across the state.
The police said the proactive security measures are being implemented in collaboration with other security and safety agencies to ensure the continued safety of residents and visitors.
Residents were encouraged to go about their lawful activities without fear, as adequate security arrangements have been put in place to safeguard lives and property.
The command further called on members of the public to remain vigilant and support security agencies by providing prompt, credible and actionable information on suspicious persons, movements and activities within their communities.
According to the police, timely information from residents remains critical to crime prevention and the enhancement of public safety across the state.
The post Viral Ikorodu Arms Arrest Video Misleading, Lagos Police Clarify appeared first on Business Today NG.
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