Business
Sovereign Trust Insurance Advances Expansion Plans with N5bn Rights Issue Signing
BY NKECHI NAECHE-ESEZOBOR—Sovereign Trust Insurance Plc has completed the structuring phase of its planned N5 billion Rights Issue, marking a significant step in its recapitalisation programme in line with the Nigerian Insurance Industry Recapitalisation Act (NIIRA).
The company disclosed this at a signing ceremony involving all transaction parties held at its corporate head office in Victoria Island, Lagos. The event signalled the conclusion of all internal processes and professional engagements required for the Rights Issue.
With the structuring phase completed, shareholders of Sovereign Trust Insurance Plc will now have the opportunity to subscribe to 2,510,848,144 ordinary shares of 50 kobo each at N2.00 per share, on the basis of three new ordinary shares for every existing holding.
The management urged shareholders to take full advantage of the offer, noting that the Rights Issue presents an opportunity to increase their stake in the company and benefit from its projected growth.
According to the Managing Director/Chief Executive Officer, Lucas Durojaiye, the company has set an ambitious growth agenda aimed at positioning itself among the top five insurance firms in Nigeria.
He noted that a strong capital base remains critical to achieving this objective, adding that full participation in the Rights Issue would strengthen the company’s capacity for expansion and long-term value creation.
“In achieving this aspiration, we have identified that a very robust capital base is critical to the success of the set agenda. We therefore call on our shareholders to fully exercise their rights and subscribe to the Rights Issue,” he said.
Durojaiye added that Sovereign Trust Insurance Plc is positioning itself to become one of the most preferred insurance companies in Nigeria, both as a service provider, an investment choice, and an employer of choice.
The Rights Issue forms part of broader efforts by the insurance sector to strengthen capitalisation, enhance competitiveness, and align with regulatory reforms under NIIRA.
The post Sovereign Trust Insurance Advances Expansion Plans with N5bn Rights Issue Signing appeared first on Business Today NG.
BY SUNDAY SAMUEL—The Lagos State Police Command, in compliance with the directive of the Inspector-General of Police, IGP Olatunji Rilwan Disu, aimed at enhancing public safety, strengthening security, and denying criminal elements the opportunity to conceal their identities and activities, will commence a statewide enforcement exercise against vehicles with covered, obscured, unauthorised, defaced or no registration number plates.
The exercise will commence on Monday, 15th June 2026, and will be led by the Commissioner of Police, Lagos State Command, CP Tijani Fatai, psc, mnips. He has directed all Area Commanders, Divisional Police Officers (DPOs), across the State to commence enforcement of the directive and ensure full compliance within their respective Areas of Responsibility. He further directed that any vehicle found violating the directive be impounded and subjected to thorough investigation in accordance with extant laws and established procedures.
The Command wishes to assure members of the public that this enforcement exercise is not intended to inconvenience law-abiding motorists. Rather, it is a proactive security measure designed to enhance the capacity of Police operatives to identify vehicles, investigate crimes, track criminal suspects, and strengthen the overall security architecture of the State.
Accordingly, motorists, transport operators, fleet owners, and members of the public are advised to ensure that their vehicles carry valid, duly issued, and clearly visible registration number plates at all times. Vehicle owners are also encouraged to ensure that all relevant vehicle documents are up-to-date and readily available for inspection when required.
The Command remains steadfast in its commitment to protecting lives and property and creating a safer environment for all residents and visitors in the State. The success of this initiative, like all policing efforts, depends largely on the cooperation and support of members of the public. The Command appreciates the understanding, cooperation, and continued support of Lagosians as it continues to implement measures aimed at ensuring the safety and security of all.
Security is a shared responsibility. The Command therefore urges residents to remain vigilant and promptly report suspicious persons, vehicles, movements, or activities through the Command’s emergency lines: 07061019374, 08065154338, 08063299264, 08039344870, and 09168630929.
L
The post Lagos Police to Begin Statewide Clampdown on Vehicles with Covered, Missing Number Plates appeared first on Business Today NG.
BY SUNDAY SAMUEL—The Zamfara State Police Command says its continuous effort to rid the state of crime and criminality have paid off as a team of police operatives attached to the Violence Crime Response Unit (VCRU), rescued three kidnapped victims along Gurusu–Anka Road who were travelling from Bukuyum to Talata Mafara.
A statement by Yazid Abubakar, Zamfara State Police Public Relations Officer says operatives were swiftly mobilised after receiving a distress call indicating that a large number of armed bandits wielding sophisticated weapons had blocked the Gurusu–Anka Road and kidnapped three persons travelling from Bukuyum to Talata Mafara. The team trailed the armed bandits into a nearby forest. A gun duel subsequently ensued between the police operatives and the bandits. Through the effective deployment of tactical measures, the bandits were overpowered and forced to flee into the bush with suspected gunshot wounds.
As a result of the operation, all three kidnapped victims were successfully rescued unharmed. However, the bandits escaped with an Android phone belonging to one of the victims.
Efforts are currently ongoing to track and apprehend the fleeing suspects through the stolen phone and other intelligence-led strategies.
The Commissioner of Police, A.M Bello Zamfara State Command, commends the bravery and professionalism of the operatives involved in the operation and reassures residents of the Command’s unwavering commitment to protecting lives and property across the state.
The post Zamfara Police Overpower Armed Bandits in Forest Gun Duel, Rescue 3 Kidnap Victims appeared first on Business Today NG.
-
Business4 days agoPlateau State Inducts NG-CARES Staff Into Civil Service, Emphasizes Performance-Driven Governance
-
News4 days ago
Plateau: Troops thwart robbery attack in pastor’s house, launch manhunt for suspects
-
News4 days ago
Obi, Kwankwaso likely to dump NDC – Buhari’s ex-aide
-
News4 days ago
2027Conversation to Hold June 12 in Jos, Organisers Promise Platform for Citizens to Question Leaders
