Ibewuike, who relocated to Mozambique where he ran a hotel business as a front, was one of three suspects declared wanted and charged in absentia after operatives of the Agency’s MMIA Strategic Command, in a coordinated 12-day operation in February 2024, intercepted 49.70kg of heroin concealed in cartons of metal-cutting machines at the Import Shed of the airport’s cargo terminal.

The operation, which led to the arrest of key members of the syndicate, including his wife, Confidence Ndidiamaka Ibewuike, who routinely received drug-laden parcels marked with the code “ND” on his behalf, also resulted in the freezing of 107 bank accounts and the forfeiture of properties linked to the cartel.

Those arrested were subsequently charged before Hon. Justice Ambrose Lewis-Allagoa of the Federal High Court, Ikoyi, Lagos, in charge no. FHC/L/205C/2024.

Three of the suspects who have so far been convicted and sentenced by the court, include: Adinnu Felix Chinedu; Osita Emmanuel Obinna; and ⁠Uzochukwu Frankline.

Three other suspects still standing trial before the court are: Chidiebere Reginald Peter; Ibewuike Ndidiamaka Confidence; and
⁠Igbokwuputa Onyinye Ireene, while three others who were charged in absentia include:
Ibewuike Festus, a.k.a. Ibewuike Chidibest; Osita Chidozie Cyril; and one Arinze.
For over two years, Ibewuike remained a fugitive, shuttling between Mozambique and Nigeria through neighbouring Benin Republic in a calculated bid to evade Nigerian law enforcement.

That evasion came to an end following actionable intelligence, which led to his arrest at the airport in Cotonou, Benin Republic on Wednesday 2nd September 2026 while the Agency worked with INTERPOL both in Nigeria and Benin Republic to facilitate his handover to a team of NDLEA operatives deployed to Cotonou on Friday 4th September. He was thereafter conveyed to Nigeria to answer for his role in the trafficking syndicate.

During preliminary interviews, Ibewuike, 52, confirmed his identity and disclosed that he had changed his name from Chidibest Ibewuike to Festus Ibewuike. On Saturday 5 September 2026, he was taken to the Agency’s Central Exhibit Store in Ikoyi, Lagos, where he formally identified the parcels of heroin, bearing the “ND” code, established to be linked to him.
Further investigation also revealed that Ibewuike Festus had previously been associated with another drug-related case before the Federal High Court, Lagos, presided over by Hon. Justice Hadiza Rabiu Shagari in charge no. FHC/L/203C/2013, regarding the seizure of 40.255kg of methamphetamine. The case involved one Chidi Ihedioha, who was subsequently convicted by the court in 2023.
Reacting to the development, the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd), described the arrest as a major breakthrough in the Agency’s relentless pursuit of fleeing drug kingpins. “This arrest is a major breakthrough in our resolve to track down and bring to justice every drug baron who thinks that fleeing Nigeria’s shores puts them beyond the reach of the law,” Marwa said. “As I have always vowed, the long arm of the NDLEA will catch up with anyone involved in this illicit trade, no matter how long it takes or how far they run.

Festus Ibewuike ran for over two years, hiding under a change of name and a new life abroad, but today he is back in Nigeria to answer for the 49.70kg heroin seizure linked to his network. This should serve as a fresh warning to fleeing suspects still at large: the Agency will not relent until every one of you is brought to book.”

The NDLEA Chairman commended the excellent multinational cooperation that made the breakthrough possible, particularly the Nigerian and Beninese INTERPOL National Central Bureaus for their role in ensuring a smooth transfer of custody.

The post Two Years on the Run: How NDLEA Tracked Down Kingpin Behind Record 49.7kg Heroin Bust appeared first on Business Today NG.

The Honourable Minister of Education, Dr. Maruf Tunji Alausa, CON, said the initiative is a major step in the Federal Government’s digital transformation agenda and aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Under the new system, applicants can complete the entire credential evaluation and authentication process online through the Ministry’s dedicated platform. The reform is designed to reduce bureaucratic bottlenecks, accelerate processing, improve transparency and provide more convenient services to Nigerians and applicants within and outside the country.

Dr. Alausa explained that the initiative will strengthen the integrity and credibility of Nigeria’s academic certification system while enabling institutions, employers and other stakeholders to verify qualifications through a more structured and reliable process.

The Minister reaffirmed the Ministry’s commitment to using technology to modernise education governance, improve institutional efficiency and deliver citizen-centred services.

Applicants are advised to use the official credential evaluation and authentication platform at essverify.education.gov.ng and direct enquiries to ess1@education.gov.ng.

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The commission disclosed in a statement posted via its X account that the result of the investigation, the company’s file has been placed under CAVEAT and classified as under INVESTIGATION.

The statement reads: “The Commission wishes to notify the Public that it is investigating the membership, ownership and management of the above mentioned company pursuant to its powers enshrined in sections 8(1) (c); 358(2) and 369(1) & (2) of the Companies and Allied Matters Act (CAMA), 2020. As result of the investigation, the company’s file has been placed under CAVEAT and classified as under INVESTIGATION.

It added that “the  Commission notes with regrets that in spite of this position, and express regulatory directive to maintain status quo contending parties have been involved in acts capable of not only undermining regulatory authority but also contemptuous of court actions in suits NO. FHC/ LAG/CS/1203/2026 and NO.FHC/ABJ/PET/17/2026.

“Parties are by this publication advised to desist from actions that could be construed as self-help in the face of pending court actions. They are to note that the Commission will not recognize changes made in contempt of regulatory directive or pending lawsuits.

“Parties should cooperate with the Team of Inspectors appointed to investigate the company pursuant to the said section 358(2) and section 369(1) (2) of CAMA 2020 and allow the judicial processes to run their full courses and final outcome be implemented.”

The post CAC Investigates Dorman Long Engineering, Places Company File Under Caveat appeared first on Business Today NG.

The intervention is necessary to restore the bridge and improve safety for all road users. Motorists should expect traffic restrictions, delays and possible congestion around the Kara corridor during the construction period.

The Sector Commander, Corps Commander Kehinde Ganiyu Hamzat, advises motorists to plan their journeys ahead, allow extra travel time, avoid unnecessary trips through the corridor and consider alternative routes, including:

• Ikorodu–Sagamu Expressway
• Lekki–Epe Expressway
• ⁠Abeokuta Expressway

Motorists are urged to obey traffic signs and instructions from FRSC, other authorised traffic personnel; reduce speed; maintain safe following distances; and avoid dangerous overtaking, indiscriminate lane changes, driving against traffic and unnecessary stopping on the expressway.

Commercial and heavy-duty vehicle operators are advised to exercise extra caution, while all motorists should ensure that their vehicles are roadworthy before embarking on their journeys.

The FRSC Lagos Sector Command, in collaboration with relevant agencies, has deployed personnel to manage traffic, respond to emergencies and minimise disruption around the construction area.

The Command appeals for the patience and cooperation of all road users, noting that the temporary inconvenience is necessary to achieve a safer and more durable Kara Bridge.

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The Director-General of the SEC, Dr. Emomotimi Agama, stated this in an interview with journalists in Abuja at the weekend.

Agama, who was represented by the Director, Registration, Exchanges and Market Infrastructure, Mrs. Hafsat Rufai, said both local and international investors had expressed satisfaction with the new settlement cycle.

She said: “Feedback from them has been excellent. They are happy with T+1, and the local investors are also happy with T+1. The fear initially was around the availability of cash to settle, time zone being one of the major considerations.

“Sometimes, in some countries, when we are closing our market at 4:00 p.m., it is still early in the day. Sometimes, it’s even longer than being early in the day; it’s midnight in some countries. And so everybody is concerned about how to source cash or how to source funds for settlement.

“But knowing that it is not at 8:00 a.m., it is 5:00 p.m., I think that gives enough time for the custodian banks, who are representatives of those investors, to source the funds required and settle the securities and cash as well, because it’s a DVP market. It’s delivery versus payment.”

Agama said no default had so far been recorded due to the unavailability of funds for settlement at the new deadline.

“It’s just a matter of letting everybody understand that the settlement time is not 8:00 a.m.; it is 5:00 p.m. And by 5:00 p.m., everybody is good. So far, it has been good. Feedback has also been very excellent,” he added.

According to him, the Nigerian capital market operated on a T+3 settlement cycle for several years before the market began a phased transition aimed at modernising the market, improving competitiveness and attractiveness, increasing liquidity and reducing settlement risks.

He said the market moved from T+3 to T+2 on November 28, 2025, before migrating to T+1 on June 1, 2026.

“Transaction day or the trade day when your shares are bought or sold on a particular day, that is day T, and then plus one, which is the current settlement cycle, means that when you buy your shares, say for instance you buy today, being a Monday, the shares will settle in your account by 5:00 p.m. tomorrow,” he explained.

Agama said the reduction in the settlement cycle was aimed at making the Nigerian market more efficient by allowing investors to receive their securities or cash sooner.

“The emphasis on 5:00 p.m. is that over the years, when you were on T+3 or T+2, settlement time was 8:00 a.m. Meaning that if you buy your shares today on T+2, that is the trade date, and then two days after, which would have been Wednesday when you were on T+2, you would get your shares if you bought or you get your cash if you sold at 8:00 a.m.

“Now we decided that we need to do better for the Nigerian market by shortening that cycle. So why buy today and wait for another 48 hours or thereabout, or two days, before you get your security? So, we shortened that transaction cycle, or settlement cycle, I beg pardon, to T+1, meaning that the trade day and a day after, that’s the first step.”

The SEC DG further disclosed that the market also shifted the settlement deadline from 8:00 a.m. to 5:00 p.m. following the extension of trading hours.
He said trading hours on the Nigerian Exchange (NGX) had earlier been extended from 2:30 p.m. to 4:00 p.m.

“If you recall, we extended trading hours earlier this year from 2:30 to 4:00 p.m. at the NGX, and then we thought, if market closes at 4:00 and we ask people to settle, that is, to provide cash and securities, at 8:00 a.m. the next day, that kind of close to being T+0 is almost as good as just telling me to pay today, and we don’t want that strain,” he said.

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Preliminary investigation revealed that Basit Kolade was travelling with his spouse, from Ebute Metta towards Lagos Island in a black Lexus Jeep, with registration number KSF 115 JZ, when a motorcycle allegedly collided with the vehicle from behind.

An argument reportedly ensued between both of them. In the course of the incident, the vehicle allegedly reversed and hit the motorcycle, causing the rider and the motorcycle to fall. This reportedly attracted a group of individuals in the area, who allegedly attacked Basit with dangerous weapons. His spouse was rescued by some women in the vicinity, while Kolade was rushed to the Lagos Island General Hospital, where he was subsequently confirmed dead. The motorcycle rider who was allegedly hit in the incident is, however, alive and currently receiving medical treatment in a hospital.

Four (4) suspects have so far been arrested in connection with the attack. They are Khalid Rafiq ‘m’ 20 years; Gafar Rahim ‘m’ 21 years; Ibrahim Azeez ‘m’ 33 years; and Samos Momoh ‘m’ 21 years. Efforts are ongoing to identify and arrest other persons who allegedly participated in the attack.

The Command has commenced an investigation into the incident, which is being treated as a homicide case, and the matter has been transferred to the State Criminal Investigation Department (SCID), Panti, for further investigation and appropriate legal action.

The Command wishes to reiterate that the 1999 Constitution of the Federal Republic of Nigeria, as amended, guarantees every person the fundamental right to life under Section 33. The Constitution permits deprivation of life only in circumstances specifically recognised by law.

Similarly, under the Criminal Law of Lagos State, unlawful killing constitutes an offence of homicide. The law provides that unlawful killing may amount to murder or manslaughter depending on the circumstances. In particular, the provisions on murder cover unlawful killing with the intention to kill or cause grievous harm, with the law prescribing severe punishment upon conviction.

The Command therefore warns members of the public against mob action, jungle justice, and the resort to self-help under any circumstance. No individual or group has the legal authority to arrest, try, convict, or execute another person.

The warning is consistent with the directive of the Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, who has directed Police Commands to treat cases involving mob action resulting in death as homicide and warned that persons who participate in, organise, incite, or support such attacks will face the full weight of the law.

The Command reiterates that suspicion or an allegation of wrongdoing does not confer on anyone the right to take the law into their own hands. Members of the public are urged to promptly report criminal incidents to the Police and allow the law to take its course.

The Commissioner of Police, Lagos State Command, CP Tijani Fatai, psc, mnips, has directed that all persons found culpable in the incident be identified, arrested, and prosecuted in accordance with the law. He assures members of the public that the investigation will be thorough and professional, and that all persons found to have participated in the attack or otherwise contributed to the death will be made to face the law.

The post Freeman Street Mob Action: Four Suspects Arrested, Case Transferred To SCID For Further Investigation appeared first on Business Today NG.

The suspects, identified as Damilare Oluwatobi, ‘m’, 28 years; Lekan Adenuga, ‘m’, 30 years; Haruna Sheriff, ‘m’, 22 years; and David Balogun, ‘m’, 24 years, were arrested at their hideout in Idi-Oro, Mushin, following sustained intelligence gathering.

During a search of their hideout, operatives recovered twenty-five (25) mobile phones; two (2) laptops computers; gold necklace and earrings; and three (3) cutlasses. The suspects are currently in Police custody and are assisting with the ongoing investigation. Efforts are being intensified to apprehend other members of the gang who may be connected to the criminal activities.

The Commissioner of Police, Lagos State Command, CP Tijani Fatai, has commended the operatives of the VCRU for their swift response, intelligence-led investigation and successful arrest of the suspects.

He reaffirmed the Command’s commitment to dismantling criminal networks across the State and ensuring the safety and security of residents, while urging members of the public to remain vigilant and promptly report suspicious activities to the Police on the Command Emergency Lines: 07061019374, 08065154338, 08063299264, 08039344870, 08080193432 (Marine), 09168630929

The post Lagos Police Arrest Four Suspected Armed Robbers, Recover 25 Phones, Two Laptops, Gold Jewellery and Cutlasses appeared first on Business Today NG.

The apex bank disclosed this today in  statement signed by Sidi-Ali, Hakama (Mrs)
Ag. Director, Corporate Communications
and Investor Relations Department.

The statement  added that this supervisory priority covers, at a high level, terrorism financing risk management, terrorism
financing transaction monitoring, targeted financial sanctions implementation, and terrorism financing-related suspicious transaction reporting.

It reads further The Bank will continue to apply a risk-based supervisory approach, including on-site and off-site engagement, to support effective AML/CFT/CPF controls across the financial sector in line with existing legal and regulatory obligations.

“This supervisory focus also supports Nigeria’s ongoing domestic and international cooperation on counter-terrorism financing, counter-proliferation financing, financial integrity, and the protection of the financial system.

The statement noted that further supervisory engagement will be undertaken as appropriate.

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The offer, is made up of  4.1 billion ordinary shares priced at N525 each, with a minimum subscription of 10 shares valued at N5,250.

Chief Executive of the company, Alhaji Aliko Dangote, who spoke at the launch yesterday, said the offer  was designed to raise additional capital for the refinery’s expansion while broadening public ownership of the business.

“This is the IPO for the people. There is no segregation on who can own the shares,” Dangote said.

He disclosed that the company plans to double the refinery’s capacity from 700,000 barrels per day to 1.4 million barrels per day, saying the expansion would increase production and strengthen the facility’s capacity to serve both domestic and international markets.

“The offer represents the refinery’s first public offer since its inauguration in 2023 and is the biggest IPO in Africa.”

He noted that the transaction would provide millions of Nigerians and other Africans with an opportunity to participate in the growth of the refinery.
While the Group Managing Director of Vetiva Capital Management Ltd., Mr Chuka Eseka, said the transaction had been structured to promote transparency, accountability and broad participation.

He explained that retail investors would be able to subscribe electronically through bank applications, internet platforms and stockbrokers, while institutional investors could subscribe electronically or through application forms submitted to receiving agents.

IPO Targets 10m Retail Investors
The Managing Director of FirstCap, Mr Ukandu Ukandu, disclosed that the offer is targeting about 10 million retail investors.

He said the target would significantly surpass the current Nigerian capital market record of about 181,000 retail participants in a single transaction.

Ukandu said the broad retail participation being targeted reflected the company’s desire to make ownership of the refinery accessible to ordinary Nigerians.

The Chief Executive Officer of Dangote Petroleum and Petrochemicals, Mr David Bird, said the refinery’s strategic location within the Lekki Free Zone positioned it to serve Nigeria, West Africa and the wider international market.
“This is not just a refinery or petrochemical complex. This is truly a pan-African energy platform,” Bird said.

Also speaking, the Chief Executive Officer of Stanbic IBTC Capital, Oladele Sotubo, said the offer had been structured to enable ordinary Nigerians to acquire shares in the refinery.
SEC Approves Offer

The IPO, which has received approval from the Securities and Exchange Commission (SEC), is expected to open on September 14 and close on October 13, subject to applicable regulatory approvals and the conditions contained in the offer documents.

Vetiva Advisory Services Ltd. is the Lead Issuing House and Lead Adviser, while Stanbic IBTC Capital and FirstCap are Joint Managers.

The company plans to list the shares on the Main Board of the Nigerian Exchange Group.
Under the offer’s incentive structure, eligible retail investors may receive up to two additional shares, subject to applicable conditions.

The IPO represents a major development in Nigeria’s capital market and could significantly broaden retail participation while providing Dangote Refinery with additional capital to support its planned expansion.

The post Dangote Launches N2.15tn IPO, Targets 10 Million Retail Investors appeared first on Business Today NG.

The Oyo State Police Command has cracked a child-stealing and human trafficking syndicate operating across multiple states, rescuing 17 children and arresting seven suspects in an intelligence-led investigation.

Briefing journalists at the Police State Headquarters, Eleyele, Ibadan, on Monday, the Commissioner of Police, CP Abimbola Ayodeji Olugbenga, said what began as a probe into an unrelated petition eventually exposed a wider criminal network involved in identifying, moving, selling and concealing children.

According to the CP, the investigation started after a petition dated July 29, 2026, was filed by one Adejoke Popoola, also known as Orente Alagbo, of the Sogade area, Ariyo, Ibadan, raising allegations of conspiracy, cyberbullying, threat to life and defamation of character.

The petition was assigned to the Anti-Kidnapping Squad on August 3, 2026. While reviewing the case, detectives noticed a link to the disappearance of a three-year-old boy, Ifakunle Ifagbenro, who had gone missing on June 29, 2026, during a masquerade festival at his father-in-law’s family compound in Oyo Town.

The police said Popoola had arrived two days before the festival to help with preparations and later offered to carry the child, after which both she and the boy vanished from the venue. The case was reported at the Atiba Police Divisional Headquarters in Oyo Town.

Investigators said photographs and video footage from the event showed Popoola carrying the child on the day he disappeared. Following up on leads from people identified in the footage, detectives arrested Popoola on August 4, 2026, at about 2:30 p.m. She reportedly admitted attending the festival and leaving with the missing child.

Her confession, police said, opened up the wider network. Popoola allegedly told detectives she had stolen more than 15 children, aged between two and seven, from churches, parties and other event venues within and outside Oyo State. She named an alleged accomplice, Adekanbi Janet, also known as Hosanna.

Janet was traced and arrested in Mowe, Ogun State, where four children aged two to four were rescued alongside two pregnant young women in her custody. Police said Janet admitted knowing Popoola for about ten years and being aware of her involvement in child stealing and trafficking, though she denied holding custody of Ifakunle.

She reportedly disclosed that stolen children were kept pending sale, while pregnant women in the syndicate’s custody were cared for until they gave birth. Her information also led detectives to Ifakunle’s whereabouts, and the boy was rescued on August 20, 2026, in the Gbagi area of Ibadan.

On September 2, 2026, detectives travelled to Agbor, Delta State, where four more children stolen from Oyo State were recovered from their buyers. Two suspects, Christopher Joy, 48, and Rosemary Jesse, 53, were arrested and confessed to their roles in the trafficking operation.

The post Oyo Police Uncover Child-Stealing, Trafficking Syndicate; 17 Children Rescued, 7 Suspects Arrested appeared first on Business Today NG.