General
Prof Sagay Behaves Like Tout, Rascal—Senate
**Begs Buhari to Tame Him
By Modupe Gbadeyanka
The Nigerian Senate has described legal luminary, Professor Itse Sagay, as someone presenting himself like a rascal.
Chairman, Senate Committee on Media and Public Affairs, Mr Aliyu Sabi Abdullahi, in a statement issued on Thursday, accused Prof Sagay of spreading falsehood and making hate speeches against the National Assembly.
The upper parliament urged President Muhammadu Buhari to rein in the chairman of the Presidential Action Committee on Anti-Corruption (PACAC) and “stop him from further creating needless tension in the relationship between the executive and the legislature.”
The Senate said the former university teacher was fond of using every opportunity he has to make public speeches to disparage the Federal legislature by using uncouth and unprintable words to describe the legislators and the institution they represent.
Mr Abdullahi said in the statement that Mr Sagay had been one of the few divisive elements in the Mr Buhari administration who believe their relevance is enhanced only when they create constant tension between the legislature and the executive while also setting members of the executives against each other.
The Senate spokesman noted that while the legislators had ignored past statements made by the Professor of law, his recent speech at a public lecture in Lagos organized by the Society of International Law where he allegedly gave false details about the salary and allowances of the legislators and the various bills passed bordered on inciting members of the public against the legislators and deliberately circulating hate speech; which the government was working hard to contain.
“Ordinarily, we would ignore Sagay whose statements and attitude present him like a rascal and sadist instead of a former university teacher.
“However, his last speech in Lagos during which he was reeling out false and exaggerated figures about the salaries nod allowances of legislators and also lied about the passage of anti-corruption bills showed that he just deliberately set out to undermine the legislative institution and lower its reputation in the estimation of right thinking members of the society and we therefore believe we should put him in his rightful place.
“As an academic whose creed should be to find facts and make comments based on truth, we believe that Sagay should stop spreading beer parlour rumours about the salaries and allowances of legislators when he could simply get the facts from the Revenue Mobilization and Fiscal Allocation Commission (RMFAC) which is the body constitutionally charged with the responsibility of fixing salaries and allowances of all public officials.
“Let us make it clear that our salaries and allowances are open books and the details can be taken from the RMFAC by any interested party.
“Prof Sagay at his lecture in Lagos also made comparisons which did little credit to his background as a lecturer as he was talking of the salary of the United States President and that of a Nigerian legislator. That is like comparing oranges with apples. Only a senile, jaded, rustic and outdated Professor of Law like Sagay will make such a comparison which falls flat on its face, even to an ordinary lay man. Surely, Sagay is basing his analysis on street talks.
“Sagay could not even check the records before proclaiming that the National Assembly has not passed a single bill for the promotion of anti-corruption war since it commenced business in July 2015.
“First, the 8th National Assembly was inaugurated on June 9, 2015 not July. Also, it is on record that the Senate has passed the Whistle Blowers’ Protection Bill, Witness Protection Bill, Mutual Legal Assistance in Criminal Matters Bill and the Nigerian Financial Intelligence Agency Bill.
“This man talks like a man who is constantly under the influence of some substance and perhaps possessed as he employs the language of a tout with no civility. He is probably constantly excited and incensed by the fact of having his first opportunity to find himself in the corridors of power.
“He pontificates and talks as if the war against corruption of the Buhari administration depends solely on him to survive.
“He once publicly attacked the Attorney General of the Federation and accused him of not doing enough to prosecute the war.
“In the Lagos speech, he took a blanket swipe at the judiciary and rubbished that entire institution which he as a lawyer has the professional, ethical and constitutional duty to respect.
“This is a man who cannot stand for councillorship election and win. We challenge him to state what his contributions are in the election of our amiable President, Muhammadu Buhari and what new ideas he has contributed to making the fight against corruption more effective since his appointment.
“With an easily excited man like him as head of an advisory body, the nation has continued to lose anti-corruption cases in courts due to the failure of his advices. He needs to do more work and talk less because media prosecution cannot win the war on corruption,” Mr Abdullahi stated.
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.
By Bon Peters
About 29,645 litres of premium motor spirit (PMS), otherwise known as petrol, as well as industrial palm oil, edible palm oil and vegetable oil with a Duty Paid Value (DPV) of N26 million have been auctioned by the Eastern Marine Command of the Nigeria Customs Service (NCS).
The products were seized by the agency from some smugglers and auctioned on Thursday, July 16, 2026, at the Oron Outstation of the Command in Akwa Ibom State, in strict compliance with Section 119 of the Nigeria Customs Service (NCS) Act 2023.
It was gathered that the command auctioned 14,720 litres of petrol and 14,925 litres of industrial palm oil, edible palm oil and vegetable oil, according to a statement issued over the weekend in Port Harcourt, Rivers State, by the command’s spokesman, Mr Joshua Iliya, a Deputy Superintendent of Customs.
It was disclosed that the exercise aligned with the service’s statutory mandate to transparently dispose of seized, forfeited, and abandoned goods after all due legal processes have been completed.
The petrol had a DPV of N11.4 million, 14,200 litres of industrial palm oil with a DPV of N14.1 million, 600 litres of edible palm oil with a DPV of N840,000, and 125 litres of vegetable oil with a DPV of N141,000.
Declaring the auction open, the Acting Comptroller of the Eastern Marine Command, Mr Esien Etim Esiet, stated that the items were intercepted during successful anti-smuggling operations within the command’s jurisdiction, adding that the seizures followed direct violations of the NCS Act and other extant laws governing restricted goods.
“This exercise reflects our unwavering commitment to transparency, accountability, and the prudent management of government assets,” he stated, reiterating that, “Beyond the lawful disposal of goods, this auction serves as a stark reminder that smuggling is an economic crime.”
“It undermines national development, threatens local industries, and deprives the government of critical revenue,” he averred, commending the resilience and professionalism of the command’s officers for securing Nigeria’s maritime borders despite operating in challenging terrains.
The customs officer assured bidders that the process was structured to be fair, open, and legally compliant while offering equal opportunity to all eligible participants.
