General
How CCTV Caused Dismissal Of 3 Lagos Policemen
By Ebitonye Akpodigha
The end of the road has come for three policemen in Lagos alleged to be terrorists to drug pushers and cyber-crime fraudsters in the Surulere area of the state.
According to New Telegraph, the three policemen followed a suspected fraudster into a banking hall to withdraw money from his account.
It was reported that the policemen, Sergeant Okechukwu Okpokwu, Sergeant Idemudia Monday and Corporal Bienonwu Richard, were all attached to Area C Police Command, Surulere, Lagos State.
Trouble started for the policemen after they sighted a car while on a ‘Stop and Search’ duty along Bode Thomas Street and accused the driver of being a fraudster.
Although the driver, who was in the car with a friend tried to deny the allegations, but a bank alert, which came into his phone while the argument was still on, belied his claims. Rather than arrest him, the policemen insisted they wanted a piece of the action.
They followed the suspect to the nearest First Bank branch in the area to withdraw some money. The policemen would have made away with the money, but for the Close Circuit Television (CCTV), in the banking hall which recorded the transaction. The Lagos State Commissioner of Police, Mr Fatai Owoseni, was said to have been furious with the policemen that he ordered for their arrest and orderly room trial.
They were subsequently later dismissed and charged with armed robbery. A police source said that the suspected fraudster was driving a Honda Accord car (End of Discussion), white in colour, when he was flagged down by the policemen. The policemen carried out a search of the car.
They accused the driver and his occupants of being cyber fraudsters, but they denied.
The policemen seized their phones and ATM cards.
The source said: “Unfortunately for the driver, at that precise moment, a bank alert entered his phone. The alert allegedly implicated them as being cyber fraudsters.
“The policemen were happy. They asked the suspects the meaning of such an alert. The suspects started begging. The policemen said they would collect N1m or arrest them.”
It was gathered that while this haggling with the suspects was going on, an Assistant Superintendent of Police (ASP), who was in charge of the team, sat in the police patrol van with the police driver, unaware that his men were making a deal that would change their lives. After haggling and begging, the policemen agreed to accept N350,000.
The driver told the policemen that he wouldn’t be able to withdraw N350, 000 with his ATM card. He said that he needed to go to bank to make withdrawal. One of the policemen, Okechukwu, said he would go with him.
The police source said: “Before leaving for the bank, Okechukwu went and changed from his uniform, into a mufti. He went to his team leader, the ASP, who was inside the patrol van, to tell him that he needed a few minutes break. All this while, he held unto the ATM cards and phones of the suspects.
“He didn’t want them to escape. He followed them to the nearest First bank branch there. The driver first used his ATM card to withdraw some money, but he couldn’t get up to N350, 000; he decided to cash the rest over the counter.
“Okechukwu followed him into the banking hall. After the driver collected the money, he handed it over to Okechukwu, but Okechukwu refused to collect it. He wanted to know if the money was complete. The suspect told him to count it. He proceeded to count it.”
Assured that the money was complete, Okechukwu handed the seized phones to the driver and his friend and went back to his duty post. When the driver got home, he narrated his experience to a friend.
The friend narrated it to a policeman stationed at police headquarters, Ikeja. The matter was taken to Owoseni. Owoseni ordered that the Deputy Commissioner of Police (DCP), in charge of operations, should investigate the matter.
A radio message was sent that the policemen should report to the command.
When they walked into the DC’s office, they sighted the suspect and were shocked. The DC told the suspect to narrate his story. He did. The policemen said they had never set eyes on the suspect, let alone to have received N350, 000 from him. When the ASP heard the story, he was shocked.
He said he wasn’t aware of such an incident and didn’t know or recognise the suspect. The suspect told the DC that it was just the three policemen, Okechukwu, Monday and Richard that searched his car and later transacted with him. The suspect stressed that the ASP was inside the police van, with a police driver. The policemen still denied the allegation, insisting that the suspect fabricated lies against them.
The DC became infuriated and went to report the latest development to Owoseni.
The policemen were brought before Owoseni. Owoseni begged them to tell him the truth and bring out the money. Owoseni said if they told the truth and bring out the money; he would apologise to the suspect, hand over the money and forget the matter. But the policemen remained adamant in their denial.
The CP became confused and decided to question the suspect, turned complainant further. The driver stuck to his story. Determined to dig out the truth, Owoseni took over the investigation himself. He went to the bank and convinced the bank manager to play the bank’s CCTV recording.
Owoseni presented the recording to the policemen, but Okechukwu, even though he saw himself collecting and counting money in the screen, still said the image wasn’t him. Owoseni got angry. Owoseni ordered that the men should go on orderly room trial. It was during the trial that they owned up to their crime and brought out the money. The police source said: “While this was happening, the Area C Commander was not around.
The Acting Area Commander was called on the matter, and without thinking twice, started defending the men. He said they were innocent. The CCTV was played for him. The CP issued him query and later suspended him. The ASP and driver were pardoned.”
Last week Friday, their signal came out; the three of them were dismissed. The CP further instructed that they should be detained and charged to court for robbery.
“The CP said they held gun, followed someone into banking hall to collect money. He said it was robbery,” said the source.
He added: “There are allegations that Richard used to hunt suspected drug pushers and cyber fraudsters in Surulere and was always collecting money from them. It was also believed that he knows that particular suspect that led to his downfall. He was also described as a very rich man and terrorist to residents of Surulere. If they had brought out the money earlier, the CP would have pardoned them.”
https://newtelegraphonline.com/cctv-caused-dismissal-three-policemen/
Nigeria’s real estate industry has experienced significant growth over the years, with developers now moving beyond basic land sales to building smart cities, luxury apartments, lifestyle estates, and integrated residential communities.
At the same time, concerns around fraud and failed projects have made trust, transparency, and delivery capacity more important than ever, especially for diaspora investors looking to own property back home.
From Lagos to Abuja and other emerging cities, several companies have distinguished themselves through innovation, infrastructure, quality developments, and customer confidence. Here are some of the top real estate companies in Nigeria in 2026.
- LandWey Investment Limited
LandWey remains one of the most influential names in Nigeria’s modern real estate sector. Headquartered in Lagos, the company has built a strong reputation around smart infrastructure, lifestyle communities, and futuristic urban development.
Their flagship project, Isimi Lagos, is one of the most talked-about developments in the country. The project combines residential living with wellness infrastructure, recreation, technology hubs, and eco-friendly concepts.
LandWey’s developments are largely concentrated along the Lekki-Epe corridor, where they continue to shape conversations around premium residential investment.
- Palton Morgan Holdings
Palton Morgan Holdings has established itself as one of Nigeria’s leading luxury real estate developers, particularly within the high-end Lagos and Abuja property markets.
The company is known for premium residential developments that combine smart living, luxury architecture, and modern urban design. Their projects are recognised for sophistication, premium finishing, and strong lifestyle appeal.
Some of their major developments include Paramount Twin Towers, L5 Banana, Rockhampton, The Meadows, and Kadars Gate.
Mshel Homes Limited is a fast-growing real estate development company that is increasingly recognised as one of the top real estate companies in Nigeria, particularly in Abuja’s expanding property market. Known for its structured developments and strategic site selection, the company has earned a reputation as a trusted real estate company delivering modern residential and mixed-use projects.
Its portfolio spans over 60 estates in key locations across Abuja, Lagos, Kano and Yola. Mshel Homes outlets in Kaduna, Port Harcourt, and Maiduguri.
Mshel Homes is a driver of sustainability and is known for eco-friendly, innovative projects with flexible payment options, which continue to attract both homebuyers and investors seeking long-term value in Nigeria’s evolving real estate sector.
Mshel Homes Limited has rapidly grown into one of the most respected and trusted real estate companies in Nigeria. Established in 2018 and headquartered in Abuja, the company is widely recognised for its integrity, transparency, honesty, and commitment to delivering value.
In an industry where credibility matters greatly, Mshel Homes has built a reputation around verified property documentation, quality construction, sustainable living, and affordable luxury.
One of its landmark projects is Hutu Exclusive, a luxury golf resort estate on Airport Road in Abuja. Widely regarded as Nigeria’s first golf resort estate, the development combines luxury living with wellness, recreation, and lifestyle infrastructure.
The estate gained national recognition after winning the “Best Branded Lifestyle Project of the Year, 2025” award at the Africa Housing Show.
Mshel Homes has a reputation for delivering amazing projects, as evident in Asokoro, Guzape, Gaduwa, Katampe Extension, and Airport Road in Abuja, among others.
- Cosgrove Investment Limited
Cosgrove has earned a strong reputation as one of Nigeria’s leading smart real estate developers. Headquartered in Abuja, the company focuses heavily on technology-driven communities and energy-efficient residential developments.
Cosgrove is recognised for integrating automation, smart security systems, and modern infrastructure into its projects, making its estates particularly attractive to professionals and investors seeking contemporary urban lifestyles.
Their emphasis on innovation gives them a unique advantage in Nigeria’s evolving property market.
- Veritasi Homes and Properties
Veritasi Homes has grown significantly through aggressive expansion and investment-focused developments. The company has become highly visible within the Lagos real estate market and is particularly known for flexible payment plans and land banking opportunities.
Their projects appeal strongly to both local and diaspora investors looking for long-term property appreciation and strategic investment locations.
Veritasi continues to strengthen its position as one of Nigeria’s fast-rising real estate brands.
- Dantata & Sawoe Construction Company Nigeria Limited
Dantata & Sawoe remains one of the oldest and most established construction and infrastructure companies connected to Nigeria’s real estate sector.
Unlike many modern developers focused mainly on residential estates, the company’s strength lies in engineering expertise, large-scale infrastructure projects, and urban development execution.
- Efab Properties Limited
Efab Properties has maintained relevance for years within Abuja’s real estate market. The company became known for delivering residential estates and housing projects targeted at middle and upper-middle-income buyers.
Its long-standing presence in the Federal Capital Territory continues to contribute to its recognition in Nigeria’s property industry.
- Nest & Nails Limited
Nest & Nails has emerged as a fast-growing real estate company focused on modern residential developments and lifestyle-oriented communities.
The company has gained attention for blending luxury aesthetics with practical housing solutions while maintaining strong market visibility and branding.
Their developments continue to attract younger homeowners and upwardly mobile investors.
- Brains & Hammers
Brains & Hammers is widely regarded as one of the most structurally ambitious real estate companies in Nigeria.
The company became prominent through large-scale residential developments, urban housing projects, and premium estates across Abuja and other cities.
Their strength lies in delivering infrastructure-heavy developments that combine affordability with modern living standards.
- Bilaad Realty
Bilaad Realty continues to build recognition within Nigeria’s competitive property market through residential estate projects and investment-focused developments.
Although still growing compared to some industry giants, the company is steadily expanding its footprint and increasing brand awareness within key investment locations.
Final Thoughts
Nigeria’s real estate industry is becoming increasingly sophisticated, with developers now competing beyond land sales alone.
Today, the leading companies are those building smart cities, lifestyle communities, luxury developments, and infrastructure-backed estates while maintaining transparency, trust, and long-term value for investors and homeowners.
By Adedapo Adesanya
The Lagos State government has approved 14 licences to private operators for off-grid generation, embedded power, independent distribution, metering, and mini-grid services as part of efforts to reshape the electricity landscape in the commercial capital.
The approvals were issued by the Lagos State Electricity Regulatory Commission (LASERC) at its maiden stakeholder engagement in Lagos, signalling the formal activation of the state’s decentralised electricity market.
At the centre of the new framework is a clear shift away from dependence on the national grid towards a structured, state-driven electricity system built on private investment and localised power supply.
Late last month, Business Post reported that the state signed Power Purchase Agreements (PPA) with three firms- Fenchurch Power, Mainland Power, and Viathan for about 60MW of generation, to increase capacity to serve major public facilities in the state.
Under the new licences, Axxela Limited will develop a 5.8MW off-grid power project at Cadbury Nigeria’s facility in Agidingbi. Daybreak Power Solutions Limited secured multiple off-grid generation approvals across major industrial sites, including Seven-Up, Nigerian Breweries, NBC, Crown Flour Mill, Nigerdock, and Promasidor.
Isolo Power Gen Limited also received approval for a 9MW embedded generation project along the Apapa–Oshodi corridor, one of Lagos’ busiest industrial zones.
In addition, Isolo Power Supply Limited was licensed as an Independent Electricity Distribution Network operator. New Hampshire Capital, GossLink Engineering, and Enaro Energy Mini-Grid Limited were approved for metering services and mini-grid operations.
LASERC said the licences are designed to deepen private sector participation and improve electricity reliability across industrial clusters, estates and peri-urban communities where supply remains unstable.
According to the commission, Lagos is building a decentralised electricity model that allows generation and distribution to operate closer to end users rather than relying solely on the national grid.
It noted that the move is to improve access, reduce losses and attract long-term investment into power infrastructure.
The state has set an ambitious target of achieving 97.5 per cent electricity availability by 2030, alongside reducing market losses to below 10 per cent through a performance-driven structure.
As part of the rollout plan, LASERC will introduce two to three 24-hour electricity franchise zones by October 2026. These zones are expected to serve as pilot districts for uninterrupted power supply under private management.
The commission is also preparing a full metering push, targeting 100 per cent coverage by July 2026. Consumer complaint centres will begin operations in phases from August 2026, starting with Amuwo Odofin, followed by Ikorodu and Epe.
One of the most notable reforms is the introduction of the “Electric Eye of Lagos” (EEL) programme, an AI-enabled metering and monitoring system designed to track consumption, reduce estimated billing and improve revenue collection. The pilot phase is expected to begin in October 2026.
LASERC also confirmed that draft market rules will be released in October 2026, finalised by December 2026, and supported with regulatory sandbox guidelines to encourage innovation in the electricity sector.
The reforms are built on the Lagos Electricity Law signed in 2024, which formally created the state’s independent electricity market and empowered LASERC to regulate generation, distribution and tariffs within the state.
That law replaced the earlier 2018 power sector reform framework and marked a structural shift in how electricity is governed in Nigeria’s commercial capital.
In March 2026, the Lagos State Government inaugurated the LASERC board, giving full operational backing to the regulatory framework.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has called on state governments to cut down on overdrafts and short‑term financing.
According to a statement by the apex bank on Sunday, the advice was given by its Deputy Governor in charge of the Economic Policy Directorate, Mr Muhammad Abdullahi, during an engagement with sub‑national stakeholders, facilitated through the Nigerian Governors Forum Secretariat.
Mr Abdullahi advised them to ensure that borrowing decisions align with debt sustainability thresholds, improve budget realism and revenue forecasting, prioritise expenditure, and better synchronise fiscal calendars with prevailing macroeconomic conditions.
He emphasised the critical role of State Governments in ensuring a successful transition to an Inflation Targeting (IT) monetary policy framework, stressing that sustained price stability can be achieved only through coordinated fiscal discipline across all tiers of government.
Mr Abdullahi described the move toward inflation targeting as a shift to a more rule‑based, transparent, and forward‑looking monetary framework that demands close collaboration with state authorities.
According to him, while the CBN retains responsibility for deploying monetary policy tools to control inflation, fiscal actions, particularly at the sub-national level, play a significant role in shaping inflation outcomes within a federal system such as Nigeria’s.
Mr Abdullahi explained that inflation targeting is fundamentally about managing expectations, warning that uncoordinated or expansionary fiscal actions by State Governments could either reinforce or undermine monetary policy signals.
He noted that states influence inflation through multiple channels, including borrowing decisions, domestic debt accumulation, expenditure patterns, wage bills, capital project execution, salary arrears, overdrafts, contractor financing, and weak coordination on the Federation Account Allocation Committee (FAAC) receipts, cash management, and debt servicing.
“In an inflation‑targeting regime, persistent, unpredictable or expansionary fiscal behaviour at the sub‑national level can significantly undermine price stability,” he said.
The Deputy Governor emphasised that the absence of fiscal dominance, where government borrowing pressures compel the bank to monetise deficits, is a core prerequisite for successful inflation targeting.
He noted that this principle applies not only at the federal level but equally to State Governments.
He urged the states to reduce reliance on overdrafts and short‑term financing, ensure that borrowing decisions align with debt sustainability thresholds, improve budget realism and revenue forecasting, prioritise expenditure, and better synchronise fiscal calendars with prevailing macroeconomic conditions.
Under the inflation‑targeting framework, Mr Abdullahi outlined four key responsibilities for state governments: maintaining fiscal discipline and predictability; pursuing responsible borrowing aligned with medium‑term fiscal frameworks; strengthening coordination on cash and debt management; and enhancing internally generated revenue mobilisation.
He warned that unplanned expenditures, excessive supplementary budgets, and unsustainable debt accumulation could trigger liquidity shocks and elevate inflationary risks.
He reiterated that inflation targeting is a collective national commitment to stability, credibility, and long-term prosperity.
While the CBN remains accountable for delivering price stability, he said the framework’s success ultimately depends on disciplined fiscal behaviour across all tiers of government.
By strengthening coordination and embedding price stability as a shared objective, he added, state governments would support the new framework and lay firmer foundations for growth, job creation, and improved social welfare.
On his part, the Director-General of the NGF, Dr Abdullateef Shittu, represented by Mr Olalekan Yunusa, commended the Governor of the apex bank and the bank’s leadership for what he described as the strategic foresight behind the engagement, particularly the decision to involve sub‑national fiscal authorities at an early stage of the transition process.
He noted that the shift from a monetary-targeting framework to inflation targeting reflects a deliberate commitment to price stability as the central anchor of economic policy.
He added that sustainable macroeconomic stability cannot be achieved through monetary policy alone and requires disciplined coordination across all tiers of government.
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