Business
Ogun Police Arrest Two Over Illegal Firearm Possession in Ifo
BY SUNDAY SAMUEL—Operatives of Ifo Division, Ogun State Police Command, on Monday arrested two suspects, Adeola Mathew ‘M’ aged 47 years and Rasheed Omoniyi ‘M’ aged 48 years, over conspiracy and unlawful possession of firearm, following a credible intelligence-led operation at a criminal hideout in Ifo area of Ogun State.
The arrest was effected on Friday, 9th May 2026, at about 6:30 a.m., when detectives attached to Ifo Division acted on credible intelligence and stormed a criminal hideout along Ibogun Road, NITEL Area, Ifo.
During the operation, Adeola Mathew was apprehended at the scene, while a search conducted at the hideout led to the recovery of one locally made pistol concealed within the premises.
Preliminary investigation revealed that the recovered firearm was allegedly handed over to the suspect by Rasheed Omoniyi, who was subsequently tracked and arrested by the operatives.
The recovered locally made pistol has been secured as exhibit, while investigation is ongoing to ascertain the source of the firearm and the suspects’ possible involvement in other criminal activities.
The case will be transferred to the State Criminal Investigation Department (SCIID), Eleweran, Abeokuta, for further discreet investigation and prosecution.
The Commissioner of Police, Ogun State Command, CP Bode Ojajuni, psc, FCSS, MNIPR, commends the operatives for their swift response and reiterates the Command’s commitment to combating crime and ensuring the safety of residents across the State.
Members of the public are encouraged to remain vigilant and report suspicious activities 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 Two Over Illegal Firearm Possession in Ifo appeared first on Business Today NG.
Nigerian stocks retreated by 0.8 per cent last week, despite the release of several strong half-year results, as profit-taking pressured trade. Sell-offs in consumer goods stocks fuelled the slide.
This week, more corporate results are expected, notably those of the big banking institutions, which could shape the direction the market may go in the near term.
This week, increased positioning, notably in stocks that pay dividends at least twice a year, could be witnessed as the market awaits the release of half-year corporate results.
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.
HBM Nigeria
HBM Nigeria tops this week’s list for its strong fundamentals. The net profit ratio (NPR) of the cement manufacturer is 9.6, while the price-to-earnings (PE) ratio is 18.1x. Its 10-day relative strength index (RSI) is 58.7.
United Capital
United Capital appears on the pick on the basis of its attractive fundamentals. The NPR of the company is 51.2, while the PE ratio is 10.1x.
Wema Bank
Wema Bank makes the selection for its strong fundamentals and for trading below its intrinsic value. The lender’s NPR is 30.5, while the PE ratio is 1.1x. Its RSI is 40.9.
Seplat Energy
Seplat makes the cut for its sound fundamentals. The NPR of the oil & gas corporation is 6.3, while the PE ratio is 26.6x. The RSI is 100.
UACN
UACN makes the cut for its sound fundamentals. The NPR of the company is 2.3, while the PE ratio is 25.4x. The RSI is 29.
NEM Insurance
NEM Insurance features on the pick for its strong fundamentals. The insurer’s NPR is 9.6, while the PE ratio is 11.8x. The RSI is 70.4.
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