By Adedapo Adesanya

The House of Representatives has passed a resolution to summon the Minister of Finance, Mr Taiwo Oyedele, alongside the Minister of Defence, Mr Christopher Musa; the Inspector General of Police (IGP), Mr Tunji Disu, and the Director-General of the State Security Service (DSS), Mr Adeola Ajayi, to appear before it to outline details of funds released to the security agencies in the last six months.

Others invited include the service chiefs and the Director-General of the National Intelligence Agency (NIA), Mr Mohammed Mohammed.

The green chamber of the National Assembly also urged President Bola Tinubu to direct the recruitment of forest guards in all the states experiencing any form of insecurity, as he did in Oyo State.

Tuesday’s resolutions followed motions of insecurity received in the House amid rising criminal activities in several parts of the country.

Last month, terrorists abducted over 40 students and teachers from some schools in Oyo State.

In Borno, kidnappers also took away scores of students and teachers, with both incidents sparking national outrage.

Amid the wave of mass abductions, the Nigeria Union of Teachers (NUT) protested across the country, calling for the release of the abductees.

Several groups also protested and demanded freedom for the kidnapped victims.

In response to the attack in Oyo, President Tinubu sent a high-powered delegation, including his Chief of Staff, Mr Femi Gbajabiamila, and the National Security Adviser (NSA), Mr Nuhu Ribadu, to the community, among others.

During a meeting with the community, Mr Gbajabiamila said Mr Tinubu is disturbed about the incident. He

Mr Gbajabiamila said Tinubu’s decision to dispatch the nation’s top security leadership to the affected communities reflected his determination to deploy every available resource towards securing the victims’ release.

The President also approved the recruitment of 1,000 forest guards and vowed to defeat insecurity and secure the release of all persons held captive across the country.

He also directed a specialised security unit with advanced rescue capabilities to intensify efforts to secure the release of the abducted pupils and teachers.

By Adedapo Adesanya

Nigerian business leader and Zenith Bank founder, Mr Jim Ovia, is expanding his footprint in real estate with the construction of a 26-floor Metropolitan Towers residential development in Lagos, where units start at $1.85 million (N2.5 billion), as well as the completion of a 44-unit Quantum Luxury Towers high-rise, where apartments start from $2.8 million (N3.8 billion).

Mr Ovia, who until recently retired as the chairman of Zenith Bank, Nigeria’s biggest lender by market value, through his Quantum Luxury Properties Limited business, is seeking to deepen his property investments.

Among his most notable property investments is the transformation of previously underutilised waterfront land on Ozumba Mbadiwe in Lagos into premium commercial and hospitality assets. These developments include the Civic Centre, Civic Towers and hospitality properties that have become prominent landmarks within Lagos’ commercial landscape.

At a recent gathering, the businessman described real estate as a more profitable venture than banking, pointing to the significant value created through strategic property investments over the years.

Mr Ovia noted that some of his most rewarding investments have come from real estate developments rather than traditional banking operations.

His latest play comes as rapid urban population growth and increasing demand for commercial space have strengthened the real estate sector’s long-term fundamentals, while the country faces rising housing deficits.

After his retirement from Zenith Bank, following the completion of the regulatory maximum tenure of 12 years as a non-executive director and chairman under corporate governance guidelines of the Central Bank of Nigeria (CBN), Mr Mustafa Bello was announced as the new chairman, effective April 27, 2026.

Beyond banking and real estate, the tycoon has also developed a significant interest in telecommunications and technology, particularly Visafone in 2007, which he built to become Nigeria’s largest Code Division Multiple Access (CDMA) telco serving over 2 million subscribers and owned 800MHz spectrum licenses, setting the foundation for future 4G services.

In January 2016, South African telco group MTN bought Visafone for over N47 billion to improve its broadband services in its biggest market.

By Adedapo Adesanya

The Nigerian Navy has recorded another breakthrough in its campaign against crude oil theft and illegal refining in the Niger Delta, recovering 92,660 litres of suspected illegally refined Automotive Gas Oil (AGO), commonly known as diesel, along the Rivers-Bayelsa border.

The recovery was made under Operation Delta Sentinel following intelligence reports that led personnel of the Nigerian Navy Ship (NNS) SOROH to the Okolomade community in Abua-Odual Local Government Area of Rivers State.

According to a statement issued by the Director of Naval Information, Captain Abiodun Folorunsho, aerial surveillance and follow-up search operations uncovered about 138 sacks containing suspected illegally refined diesel. The products were reportedly hidden beneath thick vegetation and at several concealed locations along adjoining waterways.

The maritime force said the discovery highlights the evolving tactics being adopted by illegal petroleum operators, who increasingly use remote creek corridors and hidden storage points to evade detection by security agencies.

Mr Folorunsho noted that the recovered products were handled in line with existing regulatory procedures, effectively preventing them from being distributed through illegal channels.

He stated that the operation forms part of ongoing efforts to dismantle networks involved in crude oil theft, illegal refining and unauthorised petroleum distribution across the Niger Delta. Solid minerals reports

“The operation demonstrates our continued commitment to intelligence-driven actions aimed at disrupting economic sabotage and protecting Nigeria’s critical oil and gas assets,” the statement said.

The latest recovery adds to a series of recent successes recorded by security agencies in the region as authorities intensify efforts to curb oil theft, protect national revenue, improve environmental security in oil-producing communities and help the Nigerian economy

The Nigerian Navy reaffirmed its resolve to sustain surveillance and enforcement operations across the Niger Delta, stressing that collaboration with local communities and timely intelligence remain critical to combating illegal petroleum activities.