Business

Ogun Police Disown Viral Armed Men Video Circulating Online

Published

2 months ago

April 26, 2026

Preport

The Ogun State Police Command on Sunday refuted a viral video circulating on social media, which purportedly shows armed men operating within a forest in Ogun State, describing it as false, misleading, and not originating from the state or anywhere in Nigeria.

In a statement, the Command said preliminary investigations and credible fact-checks revealed that the footage actually originated from Kenya, where it was recorded during an operation against cattle rustlers involving a General Service Unit (GSU) drone. It added that the video, which shows individuals cooking in a bush setting, was first uploaded in 2022 and has now been recirculated with a false narrative aimed at causing panic and misinformation.

The Commissioner of Police, Ogun State Command, CP Bode Ojajuni, strongly condemned the spread of the video, warning that such unverified content is capable of causing unnecessary fear and undermining public confidence in security agencies. He stressed that there is no intelligence or operational report indicating the presence of such criminal activity in any part of Ogun State.

Ojajuni assured residents that the Command remains committed to safeguarding lives and property through intelligence-led policing, strategic deployments, and sustained security operations across the state.

He urged members of the public to disregard the viral video and refrain from sharing unverified information capable of inciting panic or disturbing public peace, adding that citizens should rely only on official channels for credible security updates.

The Commissioner also called on residents to remain law-abiding and continue supporting the police with timely and credible information, warning that the spread of fake or inciting content would not be tolerated.

Residents are encouraged to report suspicious activities through the Ogun State Police Command emergency lines: Gateway Shield (Toll-Free): 0800 000 9111 and Emergency Lines: 0906 283 7609, 0912 014 1706, 0915 102 7369, 0708 497 2994.

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

Published

7 hours ago

June 18, 2026

Preport

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.

Business

FG debunks claims of plans to introduce telecoms, fuel taxes

Published

15 hours ago

June 18, 2026

Preport

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.

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.