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Ondo Police Foil Two Kidnap Attempts in Owo, Rescue Victims and Family Members

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BY SUNDAY SAMUEL—The Ondo State Police Command under the proactive leadership of CP Felix Ohagwu psc, mnips, mspsp has successfully foiled two separate kidnap attempts in Owo Local Government Area of the State, rescuing all victims involved and forcing the fleeing criminals to abandon their mission following swift and coordinated security operations.

The incidents, which occurred within a few hours of each other on Sunday, 21st June, 2026, underscore the Command’s proactive operational readiness and the effectiveness of ongoing efforts aimed at combating kidnapping and other violent crimes across the State.

The first incident occurred at about 7:05 p.m. when the Police received a distress call indicating that a six-man armed kidnapping gang had stormed the residence of Pastor Taiwo Taiwo, Chairman of Ojana New Area, Owo, with the intention of abducting him. Acting promptly on the information, the Divisional Police Officer, B Division, Owo, mobilized and led a patrol team to the scene.

Upon arrival, the operatives encountered the armed assailants, leading to an exchange of gunfire. The superior tactical response and determination of the Police operatives forced the criminals to retreat into the surrounding bush, abandoning their plan. The intended victim and his family members were successfully rescued unharmed and subsequently relocated to a safer location for enhanced security and protection.

In a related development later that same night, at about 11:10 p.m., another armed gang attacked one Daniel Ologun, a 39-year-old resident of Gbegun Community along Alhaja Camp, off Housing Estate, Owo. During the attack, the victim sustained a gunshot wound to his left leg while the assailants forcefully took his wife, Mrs. Taibat Ologun, aged 34 years, and their two young children, aged four and two years respectively, into the bush.

Upon receiving information about the incident, the Police immediately launched a rescue operation. The rapid deployment of operatives and sustained pressure mounted on the fleeing kidnappers disrupted their movement and compelled them to abandon the Mr Daniel Ologun. In a coordinated search-and-rescue effort involving the Police and personnel of the Nigerian Army, Mrs. Ologun and her two children were later successfully rescued unhurt from the assailants who escaped with gunshot injurieat about 1:50 a.m.

The injured victim was promptly taken to the Federal Medical Centre (FMC), Owo, where he is currently receiving medical attention and responding positively to treatment.
Meanwhile, joint security teams comprising Police operatives and military personnel have intensified bush-combing operations in the affected areas and adjoining forests with a view to apprehending the fleeing suspects and dismantling any criminal hideouts within the axis. Efforts are ongoing to track down all members of the criminal gangs involved in the attacks and bring them to justice.

CP Felix Ohagwu, psc, mnips, mspsp, has directed that the rescued victims be immediately debriefed to obtain additional information that may assist ongoing investigations and intelligence-gathering efforts aimed at identifying and apprehending the fleeing suspects. Afterwhich all rescued victims be reunited with their families while ensuring that necessary security measures are put in place for their continued safety and well-being.

The CP commends the bravery and swift response of the operatives involved in both operations, as well as the support of the Nigerian Army and members of the public who provided timely information that aided the successful rescue missions.

The post Ondo Police Foil Two Kidnap Attempts in Owo, Rescue Victims and Family Members appeared first on Business Today NG.

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Business

Aradel’s annual profit surges 192% as ND Western, Renaissance Africa’s acquisitions lift earnings

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Energy company Aradel Holdings saw its net profit for 2025 increase by 192.3 per cent, compared to what it reported a year earlier, according to its latest audited report, taking its profit after tax to the peak level ever.

The remarkable improvement rested on the ₦393.2 billion translation gain it earned from the business combination it executed last year after acquiring a majority stake in ND Western, an oil drilling firm in which it previously held a non-controlling interest.

Towards the end of 2025, Aradel procured a 40 per cent stake in ND Western in a transaction that took its shareholding in the entity to 81.7 per cent.

The deal involving ND Western, being one of the companies under Renaissance Energy Holdings, raised Aradel’s stake in the latter from 33.3 per cent to 53.3 per cent, making it its majority owner.

Revenue for the period under review grew by 20.4 per cent to ₦699.4 billion, driven by crude oil exports and the sale of refined products.

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Operating profit, which was up by 151.7 per cent, derived strength from the ₦217.1 billion earned as a bargain purchase from acquiring the additional stake in ND Western at a cheaper amount than its fair market value.

Share of profit from associate company stood at ₦109.5 billion, compared to ₦31.6 billion a year ago.

However, the company incurred ₦106.3 billion in fair value loss on step acquisition as a result of legacy expenses in respect of the write-down of a carrying amount from the ND Western asset acquisition.

READ ALSO: Femi Otedola, Paul Enenche named among Nigeria’s 10 ‘Models of Exemplary Fatherhood’

Profit before taxation climbed by 163.6 per cent, while profit after tax jumped to ₦757.3 billion from ₦259.1 billion.

“Our focus in 2026 is on consolidating our expanded portfolio to enhance operational scale, improve efficiency across our assets, increase production and further diversify our revenue base anchored on our long-term ambition to grow the Group’s production to support sustainable, long-term shareholder value,” Adegbite Falade, the CEO, said.

“Reflecting the strength of our performance and confidence in our outlook, the board is pleased to propose a final dividend of ₦23.0 (US$0.016) per share, taking the total 2025 distribution to ₦33.0 (US$0.024),” he added.

The ₦33 total dividend per share is 10 per cent higher than that of 2024 and is equivalent to a potential payout of ₦143.4 billion.


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Reborn @ 66: African Alliance Insurance Promises Absolute Transparency and Solvency

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BY NKECHI NAECHE-ESEZOBOR—The new management of African Alliance Insurance Plc has promised sound solvency management and absolute transparency as the company officially returns to full business operations following a major regulatory restructuring.

Speaking recently in Lagos, the newly appointed Managing Director and Chief Executive Officer, Mr. Ayobami Olakunle Ogunkeye, stressed that the pioneer indigenous life underwriting firm has pledged to uphold the highest standards of accountability and customer-centric service.

According to Ogunkeye, a seasoned turnaround expert, the company’s revival strategy is built directly upon these promises to ensure long-term viability and safeguard the interests of all policyholders.

The company’s renewed assurances follow a decisive regulatory intervention by the National Insurance Commission (NAICOM), which began in October 2024.

Prompted by severe liquidity pressures, operational disruptions, and a substantial backlog of unpaid claims, NAICOM had appointed an Interim Management Board to stabilize the 66-year-old institution.

During the intervention, the interim board successfully cleared over 75 percent of the company’s accumulated legacy liabilities.

Critical capital was unlocked through the competitive sale of a 49 percent stake in PAL Pensions, while trapped dividend funds were secured to clear up to 15 months of annuity arrears.

Additionally, the team transparently transferred the firm’s admitted annuity portfolio to an underwriting institution to secure uninterrupted payments for beneficiaries, upgraded internal ICT infrastructure, and completed vital forensic and actuarial reviews.

With these corrective milestones achieved, NAICOM Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, formally certified the company fit to resume full operations and officially handed control over to a newly constituted board and management team.

Although independent operations have resumed, African Alliance will remain under active regulatory oversight to monitor its ongoing recapitalization progress and solvency compliance closely.

The newly formed leadership structure is headed by Board Chairman Rear Admiral Anthony Odogba Isa. Joining him on the board are Andrew Ubochi as Executive Director, Technical, alongside non-executive directors Chief Boniface Chinedu Moore (SAN), High Chief Olabode Akeem Mustapha, Ataraire Gideon, and Harrison Ogalagu.

Addressing the firm’s diverse stakeholders, Ogunkeye stated that the lessons learned during the recent period of hardship have deeply reinforced the company’s resolve to develop appropriate corporate governance structure

He assured existing policyholders that their trust would be honoured without compromise, while inviting prospective clients to approach the revitalized insurer with full confidence in its financial positioning and operational capacity.

The post Reborn @ 66: African Alliance Insurance Promises Absolute Transparency and Solvency appeared first on Business Today NG.

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