General
Isoko Monarchs Endorse Uduaghan for Senate
By Dipo Olowookere
Ahead of the 2019 National Assembly elections in February, traditional rulers of Isoko ethnic nationality in Delta State have expressed their desire to have the immediate-past governor of the state and All Progressives Congress (APC) 2019 Delta South senatorial candidate, Dr. Emmanuel Eweta Uduaghan, represent the district at the upper legislative chamber for a change in status quo, and for the sake of progress in the area.
Speaking for traditional rulers of Isoko South in Oleh on Wednesday, His Royal Majesty, Anthony Ovrawah, Omogha 1, the Odio-Ologbo of Oleh, said Uduaghan had the blessings and support of the royal fathers for the senate seat.
“I have opened the door of the senate to Dr. EEU because he is an illustrious son of Isoko nation and we have confidence in him. We know him. Isoko nation benefited immensely during your tenure. You are one of us.
“I recall when you were governor, you paid me an unexpected visit. I was almost at the point of death. I didn’t complain to you or anyone close to you of any ailment but as a true medical doctor, you detected I was sick. You insisted that your personal ambulance take me to Oghara Teaching Hospital where I was treated free of charge.
“Before your visit, my people and I had resolved to throw our support behind you and the Itsekiris. The position [senatorial seat] belongs to three children. One child should not monopolize it. It is mother’s breast, only one child cannot suck it.
“Uduaghan has the blessings and support of Isoko nation for the senatorial seat. You’re our candidate for the senate. We picked you not because of APC but for who you are.”
“This is your time; we saw what you did as a state governor. Go to the senate and do more. Your name is already in the senate. Isoko is sending you,” the monarch declared.
The former governor also met with traditional rulers from Isoko North at the palace of His Royal Majesty, Anthony Ogbogbo, Ebuka 1, Ovie of Ozoro kingdom, in continuation of his consultation with traditional rulers in Delta South for his senatorial ambition.
Speaking at Ozoro, HRM Ebuka 1, Ovie of Ozoro kingdom, who spoke on behalf of the traditional rulers, said monarchs in the state would not forget in a hurry Uduaghan’s support for the traditional institution.
The monarchs noted that Uduaghan as a governor accorded the traditional institution its due respect and as well, raised the status of royal fathers to an enviable position in the country.
“The other kings from all the other kingdoms in Isoko North are here to see the man who elevated their status. You did well for us. You fought for traditional rulers and the sanctity of our culture. You won our hearts with your issue-based speech. It is rare.
“We (traditional rulers) in Delta State will not forget you in a hurry. You did well as a governor. You won our hearts with your issue-based speech. We pray God to grant your aspiration with a resounding victory,” the Ozoro king said.
Uduaghan, while speaking during the visit to the two palaces, said he was in Isoko land to solicit the support of Isoko Nation for his senatorial race in the next month’s National Assembly election in Delta South.
He noted that as a secretary to the state government (SSG) and later governor of Delta State, he is well abreast with the role traditional rulers play in ensuring peace in the state.
The former governor also told the monarchs that if elected as senator, he would sponsor bills and law that will give constitutional backing to the traditional institution in the country as well as ensure that their pains are addressed by the federal government.
“As an SSG and secretary to the State Security Council and later as a governor of the state, I know the enormous role traditional rulers play in helping to ensure peace and security.
“Kings have spiritual powers. Somehow, they are gifted with the act of mediation and peace.
“We would have been experiencing more violence if not for the intervention of monarchs especially from Isoko who ensured that their domains were peaceful during my time as governor.
“One of the reasons I am seeking your support to go to the senate is that I believe that our traditional institution should have legal backing in their role in ensuring peace in the country.
“If elected as senator I will also push for the recognition of monarchs in the constitution of the Federal Republic of Nigeria which would give them a constitutional role to their people.
“I also believe that as people from oil producing communities, we should have a major stake in the ownership of the oil and gas companies in our communities. Through this, our communities will benefit more from the oil and gas that is derived from our area.”
“I will also push for the cleaning of impacted communities. Based on my experience as a governor, there is so much we can do to create jobs for unemployed youths in the region.
“I will push for communities to have at least 5 per cent ownership of companies operating in host communities in Delta South. This will create jobs for men, women and youths.
“I will also push for communities to be in charge of security of government and companies’ properties in their domain.
“Pipeline surveillance contract should be a form of empowerment to our youths but they are only paid peanuts at the end of the day because some persons who are not even from our region are the middlemen. When I become senator, the contract would come straight to our communities so that our youths would be empowered.
“The destruction of localized refineries otherwise known by the government as illegal refineries further causes more harm as much as our boys “cooking” crude oil in the creeks. When I become senator, I will push for the legalization of these localized “refineries”. This will ensure positive engagement across the value chain,” Uduaghan concluded.
By Adedapo Adesanya
Justice Inyang Ekwo of the Federal High Court, Abuja, has granted bail to the former Managing Director of the Warri Refining and Petrochemical Company Limited, Mr Jimoh Yisawu, in the sum of N500 million.
Mr Yisawu is standing trial on an eight-count charge bordering on alleged money laundering.
He pleaded not guilty to all eight counts after they were read to him. The charge, dated and filed on June 22, 2026, was brought by the Federal Government.
The prosecution, led by Mr Ekele Iheanacho, a Senior Advocate of Nigeria (SAN), told the court that the defendant allegedly committed offences contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.
In the first count, the Federal Government alleged that Mr Yisawu “indirectly converted the aggregate sum of over $789,950… being proceeds of unlawful activity”, contrary to Section 18(2)(b) and punishable under Section 18(3) of the Act.
In the second count, the prosecution alleged that he made cash payments exceeding $789,950 to one Samaila Bala without using a financial institution, contrary to the provisions of the anti-money laundering law.
In the fourth count, the government further alleged that Yisawu made cash payments totalling $122,600 through one Rasheed Olaitan Yusuf outside the banking system and due process, in violation of the anti-money laundering law.
Following the defendant’s plea, Iheanacho applied for a trial date.
Counsel for the defendant, Wale Balogun (SAN), informed the court that he had filed a bail application.
Responding, Mr Iheanacho said the prosecution had filed a counter-affidavit opposing the application and urged the court to refuse bail.
Balogun, however, argued that the prosecution had earlier granted Mr Yisawu administrative bail and had already seized his international passport. He urged the court to maintain the existing bail terms.
After adopting their respective processes, both counsel argued for their applications.
In a ruling, Justice Ekwo held that the defendant was entitled to bail.
The judge said, “Going by Section 162 of the Administration of Criminal Justice Act (2015)… I therefore grant bail in the sum of ₦500m with one surety in like sum.”
Justice Ekwo ordered that the surety must be a responsible Nigerian with landed property in Abuja and must submit proof of ownership to the court registrar.
The judge also directed the defendant to deposit his international passport with the court and barred him from travelling outside Nigeria without the court’s permission.
Pending the perfection of the bail conditions, the court ordered that Mr Yisawu should remain in the custody of the prosecution.
The case was adjourned until October 25, 26, and 27, 2026, for trial.
By Adedapo Adesanya
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the federal government to review the fuel import licences recently issued to some marketers, saying the policy is driving up fuel prices, putting pressure on foreign exchange and creating instability in the downstream petroleum sector.
Speaking in Abuja, IPMAN’s National Publicity Secretary, Mr Chinedu Ukadike, said the current import regime has not achieved its goal of making fuel more affordable. Instead, he argued that it has encouraged the importation of more expensive petrol while increasing the country’s dependence on foreign exchange.
According to Mr Ukadike, some importers plan to sell Premium Motor Spirit (PMS), also known as petrol, for about N1,350 per litre, which is higher than the ex-depot price offered by the Dangote Petroleum Refinery.
The IPMAN official questioned the need to import fuel at higher prices when locally refined products are available at lower costs, noting that the situation has made it difficult for independent marketers to plan their businesses because import costs continue to fluctuate.
Mr Ukadike also raised concerns about the quality of some imported fuel and called on regulators to ensure that only products that meet Nigeria’s standards are allowed into the country.
The association warned that continued fuel imports also increase demand for the US Dollar since importers pay for products in foreign currency. This, the association said, puts additional pressure on the naira and contributes to higher fuel prices.
The association stressed that Nigeria should focus on supporting local refining to improve energy security and reduce reliance on imported petroleum products.
It noted that the Dangote Petroleum Refinery has helped maintain steady fuel supply despite global disruptions, including tensions in the Middle East.
According to IPMAN, greater use of locally refined fuel would reduce FX demand, strengthen the refining industry, create jobs and improve economic stability. It also said producing enough fuel for local consumption while exporting excess output would help Nigeria earn more foreign exchange.
The association called on the federal government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited and the Presidential Committee on downstream reforms to engage stakeholders and adopt policies that support domestic refining.
IPMAN said strengthening local refining remains the best long-term solution for affordable fuel, stable supply and improved energy security in Nigeria.
By Adedapo Adesanya
The National Insurance Commission (NAICOM) has reiterated that the July 31, 2026, deadline for insurance companies to meet the new minimum capital requirements remains firm, warning operators against treating it as a mere formality.
The Commissioner for Insurance of NAICOM, Mr Olusegun Ayo Omosehin, who gave this warning, urged companies that have yet to meet the new minimum capital requirements to act with urgency.
Speaking on Friday at the investiture of Mr Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos, Mr Omosehin said the recapitalisation exercise remained a critical pillar of the Commission’s ongoing reforms aimed at building a stronger, more resilient and consumer-focused insurance industry.
According to him, the new minimum capital requirement is designed to improve insurers’ claims-paying capacity, strengthen their balance sheets, support higher domestic risk retention and prepare the industry for a risk-based capital regime.
“With about 14 days to the July 31 deadline, we commend operators that have made significant progress in raising capital, engaging investors, strengthening governance and submitting for the Commission’s verification process.
“However, the deadline is not symbolic; it is regulatory, and the industry must treat it with the urgency it deserves,” he said.
The Commissioner assured stakeholders that the insurance sector regulator would maintain a transparent, fair and firm process, stressing that every operator must demonstrate financial soundness, regulatory compliance and operational readiness.
He added that stronger capitalisation must ultimately translate into better service delivery, prompt settlement of claims, improved consumer protection and greater public confidence in insurance.
Mr Omosehin noted that the Nigerian Insurance Industry Reform Act (NIIRA) 2025 has provided a stronger legal framework for a more resilient, better-governed and responsive insurance market, adding that NAICOM’s reform agenda is focused on market conduct, policyholder protection, governance, insurance penetration, financial inclusion and responsible innovation.
He described professionalism as the foundation of a trusted insurance market, saying the industry’s growth depends not only on adequate capital and effective regulation but also on ethics, competence, innovation and public confidence.
“The strength of insurance depends not only on capital and regulation but also on professionalism, ethics, innovation and public confidence. A trusted insurance market cannot be built on capital alone. It requires competent professionals, ethical institutions, credible advice and fair treatment of policyholders,” he stated.
