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NDLEA Sets Ablaze N194bn Cocaine Seized in Lagos

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NDLEA cocaine

By Modupe Gbadeyanka

The 1.8 tonnes of cocaine worth N194 billion recovered by the National Drug Law Enforcement Agency (NDLEA) from a warehouse in the Ikorodu area of Lagos last week has been set ablaze.

The illicit drug was burnt on Tuesday, September 27, 2022, in the Badagry area of Lagos and was witnessed by the Chairman/Chief Executive of the agency, Mr Buba Marwa.

Mr Marwa, represented by the Director of Prosecution and Legal Services, Deputy Commander General of Narcotics (DCGN), Mr Sunday Joseph, said the cocaine was set ablaze following an order of the Federal High Court in Lagos.

He said the sheer volume of the drug haul speaks volumes about the extent of the nefarious activities of the drug underworld, noting that this has made it imperative for Nigerians to continue to support NDLEA in the renewed war against illicit drugs.

The NDLEA chief said out of the 1.8-tonne seizure, 1,828 blocks of the cocaine will be crushed and set ablaze, while the remnant will be secured for the purpose of prosecution of the suspects who were brought to witness the procedure and sign the certificate of destruction.

According to him, the agency is proceeding with the prosecution of those arrested in connection with this consignment, promising that the organisation will pursue the trial to a logical conclusion.

“Since January 25, 2021, when we commenced our offensive action against drug traffickers, the Agency has secured record convictions.

“Presently, 2,904 drug offenders are serving various jail terms, while other cases are ongoing in court, which we are confident will end in positive results too,” he was quoted as saying in a statement signed by the spokesman of the agency, Mr Femi Babafemi.

While soliciting more support for the agency’s work, Mr Marwa said the safety of society was the responsibility of every citizen.

He said the fact that the Ikorodu operation was conducted clinically without any skirmish or bloodshed was further testimony to the evolution of the NDLEA and its new capabilities and a pointer to the fact that the game has changed in the war against illicit drugs.

He expressed appreciation to the organisation’s international partners, especially the American Drug Enforcement Administration (US-DEA), which supported the cocaine syndicate bust and the Nigerian military that provided additional firepower during the operation, as well as other law enforcement agencies that have been supporting efforts to rid Nigeria of illicit drugs.

The NDLEA had in a well-coordinated and intelligence-led operation that lasted two days last week, stormed a hidden warehouse at 6 Olukunola Street, Solebo Estate, Ikorodu. Five suspects, including a Jamaican, were arrested.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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NECA’s Annual Retreat for Business Managers, Executives Holds April 16

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NECA Adewale Smatt-Oyerinde

By Aduragbemi Omiyale

The annual retreat for business managers and executives organised by the Nigeria Employers’ Consultative Association (NECA) will take place from April 16 to 18, 2026, at the AAE & T Hotel, Kuto, Abeokuta, Ogun State.

This year’s edition is themed The Resilient Enterprise, People and Systems: Building and Managing Businesses that Outlive Seasons, Cycles and Crises.

The programme aims to equip leaders with the insights, tools, and networks required to build resilient organisations in an increasingly complex business environment.

It will provide a unique platform for executive-level engagement through high-level conversations, peer learning sessions with experienced leaders, strategy reflection workshops, and curated networking opportunities.

Expected to attend are industry leaders, senior executives, and business managers from across sectors. They will explore strategies for sustaining organisational performance through leadership transitions, economic cycles, regulatory shifts, and market disruptions.

Participants will also benefit from interactive discussions focused on strengthening corporate governance, developing agile leadership capabilities, and building organisational systems that can withstand periods of uncertainty and transformation.

A notice from NECA said the event is open to both members and non-members, with participation fees set at N300,000 for members and N320,000 for non-members. Discounts will also be available for Gold and Silver members, subject to applicable terms and conditions.

Interested participants are encouraged to register via the official registration link to secure their place at the retreat, which promises to deliver valuable insights and connections for executives seeking to build enterprises capable of thriving through seasons of change and uncertainty.

The Director-General of NECA, Mr Adewale Smatt-Oyerinde, noted that by convening business managers and senior executives in a collaborative learning environment, the association aims to contribute to the development of stronger, future-ready enterprises that can drive economic growth, create jobs, and support national development even in the face of evolving global and local challenges.

He added that the retreat will provide executives with the opportunity to step away from daily operational demands and engage in deeper strategic conversations with peers and industry experts.

“The theme of this year’s retreat speaks directly to the realities businesses face today. Across sectors, organisations are navigating leadership transitions, regulatory shifts, economic pressures, and technological disruption.

“What distinguishes enduring enterprises is their ability to build strong systems, develop capable leaders, and create organisational cultures that can adapt and respond effectively to change,” the NECA chief said.

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Egbin Power Commissions 80 New Staff Housing Units

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Egbin Power 80 New Staff Housing Units

By Modupe Gbadeyanka

In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.

This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.

The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.

This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.

The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.

This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication

“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.

“This significant expansion of our residential estate is a tangible expression of that commitment.

“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.

Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.

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NGX Group, CSCS, WIMBIZ to Ring Bell for Gender Equality

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Ring Bell for Gender Equality

By Aduragbemi Omiyale

On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.

The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.

In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.

Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.

NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.

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