General
Witness Says Iba Monarch Abductors Got N15.1m As Ransom
By Dipo Olowookere
“My abductors demanded N500m ransom but my family paid N15.1m to free me” the traditional ruler of Iba Town, Oba Goriola Oseni, told a Lagos High Court sitting at Igbosere.
Oseni said this on Friday while giving evidence at the commencement of trial of the four men accused of kidnapping him.
The accused are Duba Furejo, Ododowo Isaiah, Reuben Anthony and Yerin Fresh, who were first arraigned before Justice Oluwatoyin Taiwo on October 24.
They are standing trial on an eight-count bordering on conspiracy, murder, attempted murder, robbery, armed robbery, stealing and kidnapping preferred against them by the Lagos State Government.
At the commencement of hearing, the Lagos State Attorney-General and Commissioner for Justice, Adeniji Kazeem (SAN), who led a team of lawyers for the state, obtained the leave of court to exclude the public from the trial.
In an oral application, Kazeem told the court that the accused were part of a criminal enterprise, therefore, it would be in the interest of justice and the safety of the witnesses for the case to be closed to the public.
The court granted his request despite the objections of all the three counsel for the accused.
Mr Selowei Baidi was for the first and second accused, Mr. J. O. Egwuaroje for the third accused while Anthony Onwueze represented the fourth accused.
Justice Taiwo, in her ruling, said that there was nothing prejudicial about Kazeem’s application and assured the defence counsel of fair hearing.
She ordered all journalists in court to identify themselves with their official identification card in order to be allowed to cover the proceedings.
Led in evidence by Kazeem, Oseni, 73, testified as first prosecution witness and narrated how at about 8:00pm on July 16, he was kidnapped while watching TV in his palace.
Oseni told the court that he was held in captivity for three weeks in an unknown camp.
He described his abductors, about nine, as shirtless, heavily armed men wearing only black trousers.
He said, “This is the king, the gunmen said. I asked them, ‘what can I do for you?’ Then they grabbed me. I was in only a boxer because I was preparing to take a bath.
“My Olori (Queens) came in and asked them where they were taking me to but they fled when the gunmen released some bullets in the decking of the room.”
He said the gunmen dragged him out of the palace and shot sporadically, in the process, killed his security guard and a motorcyclist.
He said they demanded N500m ransom but his family paid N12m and then another N3.1m to another group of the kidnappers, totalling N15.1m, following which he was released.
The Oba’s son, Prince Kazeem, who testified as the second prosecution witness, said he delivered both ransom money of N12m and N3.1m to the abductors at a canal near Igbehinadun in Iba.
He said they negotiated the ransom from N500m to N40m but they couldn’t raise that amount, especially after the government refused to pay any ransom.
The militants, he added, gave him directions to the drop off point on phone after warning him not to tell anyone.
Justice Taiwo adjourned the case till November 18, following a request by the prosecution for time to present more witnesses.
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.
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.
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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