General
AMCON Seizes Senator Buhari Assets over N600m Loan Default
By Adedapo Adesanya
The Asset Management Corporation of Nigeria (AMCON) has seized properties belonging to Senator Abdulfatai Buhari over unwillingness to fulfil the terms of a N600 million loan.
The corporation said it took the action after securing a court order to sell the assets to recover the loan.
Mr Buhari, elected on the platform of the All Progressives Congress (APC), represents Oyo North.
The unpaid loan was taken by a Buhari-linked company, Abadat Ventures Limited, from a major bank.
It was classified as a Non-Performing Loan (NPL) and purchased by AMCON from the bank during the second phase of eligible bank asset purchases this year.
AMCON alleged that Mr Buhari had shown an unwillingness to repay the loan, despite the concessions made available to him by the Corporation in a bid to amicably resolve the matter.
The corporation approached the Federal High Court to obtain an order to take over assets of Abadat. It was granted by Justice I. E Ekwo of the Federal High Court, Abuja on March 25.
In compliance with the enforcement order, the agency went about putting the logistics together and took effective possession of the two properties as listed by the court through its appointed receiver-manager – Mr Baba Mohammed Waziri of Baba Waziri & Co. Chambers.
The enforced properties include property situated at No. 12, St, Petersburg Street, Wuse II, Abuja and Plot 516, (also known as No. 2. Marte Close), off Misau Crescent, off Birnin Kebbi Crescent, Garki II, Abuja.
Besides granting the corporation possession of the seized properties, the court also ordered the receiver-manager to take all necessary steps required to realise the assets of the obligor, with a view to paying the outstanding loan in line with Section 553 and 554 of the Companies and Allied Matters Act, 2020.
Head, Corporate Communications, AMCON, Mr Jude Nwauzor, who confirmed that the properties were effectively under the agency’s possession, explained that the enforcement was carried out in a seamless manner, as the court had directed officers and men of the Police, court bailiffs and other security agencies to assist AMCON in securing the assets.
Mr Nwauzor added that Mr Buhari, as the chief promoter of Abadat and his firm, had remained recalcitrant despite all efforts, negotiations and windows of opportunity provided them by AMCON to enable them to repay the indebtedness.
According to him, having exhausted all possibilities, AMCON had no other options as a law-abiding corporate organisation than to seek judicial intervention.
General
Concerns as Market, Hospital Bomb Attacks Kill 23, Injure 108 in Maiduguri
By Adedapo Adesanya
The Nigeria Police Force in Borno State has confirmed that 23 persons were killed and 108 others injured following multiple explosions that rocked Maiduguri on Monday evening, in what authorities described as coordinated suicide attacks.
The incidents, which occurred at about 7:24 p.m., targeted crowded and strategic locations within the metropolis, including the Maiduguri Monday Market, the gate of the University of Maiduguri Teaching Hospital, and the Post Office Flyover, Maiduguri.
In a statement issued by the Police Public Relations Officer, ASP Nahum Kenneth Daso, preliminary investigations revealed that the explosions were carried out by suspected suicide bombers using improvised explosive devices (IEDs).
The coordinated nature of the attacks, which struck nearly simultaneously across different parts of the city, has raised fresh concerns about evolving tactics by insurgent groups seeking to undermine ongoing counter-terrorism efforts in the North-East.
Security analysts noted that the choice of targets: a major market, a hospital vicinity, and a busy flyover, suggests an intent to maximise casualties, spread fear, and disrupt socio-economic activities in the state capital.
In response, a combined team of Police Tactical Units, military personnel and other joint security operatives were immediately deployed to the affected areas.
The scenes were swiftly secured and cordoned off, while the Explosive Ordnance Disposal (EOD) Unit conducted detailed sweep operations to rule out the presence of additional explosive devices.
The Governor of the state, Mr Babagana Zulum, in a statement, said the explosions had claimed victims and injured others, without elaborating or saying who was responsible.
“The act is utterly condemnable, barbaric, and inhumane,” said Mr Zulum.
The Commissioner of Police, CP Naziru Abdulmajid, led a high-level assessment visit to the affected locations, where he commiserated with victims and their families.
He assured residents of the command’s unwavering commitment to safeguarding lives and property, noting that enhanced security measures had been activated across the state.
Emergency responders, including the National Emergency Management Agency (NEMA) and the Borno State Emergency Management Agency, worked in coordination with medical teams to evacuate victims to hospitals, where they are currently receiving treatment.
Boko Haram and Islamic State West Africa Province (ISWAP) have carried out several attacks against army bases across Borno this month, killing several troops and seizing weapons.
General
Women Need to Own Their Stories, Collaborate—Ayo Mario-Ese
By Modupe Gbadeyanka
Celebrated broadcaster with Arise TV, Mrs Ayo Mario-Ese, has charged women to be open to collaboration and not limit themselves.
The charming media personality was one of the panellists at the UBA Business Series themed Introducing Gen W – The Evolved Woman, held at the UBA House in Lagos last Thursday.
At the event moderated by popular actor, Mr Tobi Bakre, the Morning Show anchor on Arise TV expressed worry about females who are usually laidback about speaking up and sharing their achievements, and said that women need to own their stories.
“A lot of women are doing phenomenal work and are sometimes afraid of showcasing what they are doing. As an evolved woman, you have to find out what you are comfortable doing, create your own unique offering, and also be open to collaboration,” she submitted.
Another panellist, Ms Joycee Awosika, described an evolved woman as one who has awareness of who she is.
“That woman does not need to ask to sit at the table; she is creating her own table and adding value. As your company is growing, you must grow too, and always do an audit of where you need to become a better leader,” the energy economist stated.
For a digital entrepreneur, Ms Tomike Adeoye, the question of what a woman is bringing to the table has now become obsolete, as the evolved woman is now bringing their own table.
“She is now more vocal about their struggles, setting the standards, and she is not ready to give up on her dreams,” she declared.
For the founder of Fine-Funky, Ms Olufunke Davies, she remarked that, “Creating unique designs that are affordable remains my driving force and something that has helped me grow as an evolved woman.”
In her remarks, the Group Head for Brand, Marketing and Corporate Communications at UBA, Ms Alero Ladipo, said, “Raising each woman is actually not that hard, because everyone has their community as well as their story; and so as women, we need to take a position so that we can give to others.”
She said the Gen W platform of the lender is dedicated to the evolved woman, adding, “Through expert insights, real stories, and practical resources, the platform connects women who are building brands, creating businesses, growing careers, and leading across industries. They also have access to a plethora of discounted products and loans. The best part: it is open to every woman. No UBA account needed. This is Gen W, for the evolved woman.”
This edition of the UBA Business Series was hosted to mark International Women’s Month.
General
Navy Intensifies Crackdown on Oil Theft in Rivers, Calabar
By Adedapo Adesanya
The Nigerian Navy has intensified its crackdown on crude oil theft and illegal bunkering, destroying a reactivated illegal refinery site in Rivers State and intercepting suspected stolen petroleum products in Calabar.
The Director of Naval Information, Captain Abiodun Folorunsho, disclosed this in a statement on Sunday in Abuja, revealing that personnel of the Nigerian Navy Ship SOROH, operating under Operation Delta Sentinel, destroyed a reactivated illegal refinery site at Okolomade Community in Abua-Odual Local Government Area (LGA) of Rivers State.
He said the action followed credible intelligence that a previously dismantled illegal refining site had resumed operations.
According to him, an Anti–Crude Oil Theft (Anti-COT) team deployed to the location discovered that the dismantled refining oven had been reconstructed.
“Further exploitation of the area led to the discovery of additional refining equipment and storage facilities containing about 3,000 litres of product suspected to be illegally refined Automotive Gas Oil (AGO),” he said.
Mr Folorunsho added that the illegal refining infrastructure—including ovens, storage tanks, hoses, connected pipes and newly acquired metal components used for illegal refining—was destroyed in line with operational procedures.
He said personnel of the Nigerian Navy Ship Victory, in another operation, intercepted about 3,950 litres of suspected stolen petroleum products at the Nigerian Ports Authority (NPA) area in Calabar, Cross River.
He said the interception was based on credible intelligence on suspected siphoning of petroleum products from vessels berthed at the port.
The naval patrol team, according to him, swiftly deployed to the area and traced the illegally siphoned products to a trailer park within the port facility.
“On sighting the naval patrol team, the suspected perpetrators fled the scene, after which the area was cordoned off and the illegally siphoned products secured,” he said.
The official said further inspection led to the recovery of about 3,950 litres of Automotive Gas Oil stored in drums and jerrycans, which had been evacuated to the naval base for further necessary action in line with extant regulations.
He noted that the successes aligned with the directive of the Chief of the Naval Staff, Vice Adm. Idi Abbas, to intensify operations against crude oil theft and other maritime crimes across Nigeria’s maritime domain.
The captain reiterated the Navy’s commitment to sustaining the operational tempo of Operation Delta Sentinel through intensified surveillance, patrols and intelligence-driven operations aimed at combating crude oil theft, illegal bunkering and other forms of economic sabotage.
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