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Witness Says Iba Monarch Abductors Got N15.1m As Ransom

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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.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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NGIC Pipeline Network to Experience 4-Day Gas Supply Shortage

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By Modupe Gbadeyanka

The pipeline network of the NNPC Gas Infrastructure Company Limited (NGIC) will witness a temporary reduction in gas supply for four days.

This information was revealed by the Chief Corporate Communications Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Andy Odeh, in a statement on Thursday night.

A key supplier of gas into the NGIC pipeline network is Seplat Energy Plc, a joint venture partner of the state-owned oil agency.

It was disclosed that the facility would undergo routine maintenance from Thursday. February 12 to Sunday, February 15, 2026.

The NNPC stated that, “This planned activity forms part of standard industry safety and asset integrity protocols designed to ensure the continued reliability, efficiency, and safe operation of critical gas infrastructure.”

“Periodic maintenance of this nature is essential to sustain optimal system performance, strengthen operational resilience, and minimise the risk of unplanned outages,” it added.

“During the four-day maintenance period, there will be a temporary reduction in gas supply into the NGIC pipeline network. As a result, some power generation companies reliant on this supply may experience reduced gas availability, which could modestly impact electricity generation levels within the timeframe.

“NNPC Ltd and Seplat Energy are working closely to ensure that the maintenance is executed safely and completed as scheduled. In parallel, NNPC Gas Marketing Limited (NGML) is engaging alternative gas suppliers to mitigate anticipated supply gaps and maintain stability across the network,” the statement further said.

“Upon completion of the maintenance exercise, full gas supply into the NGIC system is expected to resume promptly, enabling affected power generation companies to return to normal operations,” it concluded.

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Judge Withdraws from EFCC Cases Against Former AGF Malami

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Abubakar Malami Assets Recovery Campaign

By Adedapo Adesanya

Justice Obiora Egwuatu of the Federal High Court in Abuja has recused himself from the two cases involving the former Attorney General of the Federation, Mr Abubakar Malami, filed by the Economic and Financial Crimes Commission (EFCC).

Mr Egwuatu was recently reassigned the cases by the Chief Judge of the Federal High Court, and he disclosed that he withdrew for personal reasons and in the interest of justice.

The cases against Mr Malami were formerly before Justice Emeka Nwite of the same court, who was a vacation judge during the festive season.

Mr Egwuatu’s recusal comes after the civil suit for the forfeiture of 57 properties allegedly linked to Mr Malami was called for mention.

The former AGF, his wife, and son are facing a 16-count money laundering charge. They were granted bail on January 7 in the sum of N500 million with two sureties by Justice Emeka Nwite of the Federal High Court in Abuja.

Justice Nwite stated that the sureties must have landed property in Asokoro, Maitama, and Gwarinpa.

The judge added that the trio must submit their travel documents to the court.

The former Minister of Justice is facing a fresh persecution over the arms and ammunition found in his house by the Department of State Service (DSS). The arms were reportedly uncovered at his Kebbi country home by the operatives of the EFCC during a search.

The anti-graft agency handed the weapon to the secret police for a comprehensive probe, citing a lack of constitutional authority to investigate the possession.

Similarly, the former AGF was accused of knowingly abetting terrorism financing by refusing to prosecute terrorism financiers whose case files were brought to his office as the AGF in the last administration for prosecution. Alongside his son, the lawyer was accused by the DSS of engaging in conduct in preparation to commit an act of terrorism by having in their possession and without a licence, a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5’20 live rounds of Cartridges and 27 expended Redstar AAA 5’20 Cartridges.

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NLNG Says Low-Risk Key to Unlocking Value in Nigeria’s Gas Industry

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By Adedapo Adesanya

Nigeria LNG (NLNG) has reaffirmed that a well-structured, low-risk approach in Nigeria’s energy sector is essential to unlocking investments, accelerating economic development and strengthening energy security.

NLNG’s General Manager, Production, Mr Nnamdi Anowi, said this at a panel session titled De-Risking Investments in African Oil and Gas Projects during the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos, noting that when oil and gas projects are perceived as too risky, investors tend to withdraw, leading to stalled projects, job losses, and missed revenue opportunities critical for national growth.

According to a statement by Mrs Anne-Marie Palmer-Ikuku, Manager, Corporate Communication and Public Affairs, he stated that reducing risks in oil and gas projects, beyond being a business strategy, was a matter of national importance for Nigeria’s economy, energy security, and long-term development.

He further explained that for NLNG, lowering risk means keeping gas flowing reliably, meeting long-term contracts, and ensuring the company remains a trusted supplier to global and domestic markets.

He said this will allow investors to fund projects at a lower cost, which ultimately benefits both companies and the country.

Mr Anowi also highlighted the importance of good infrastructure, local skills, and modern technology in reducing everyday operational risks.

He said that when pipelines, processing facilities, and digital systems work well, projects are safer, cheaper to run, and more reliable over time.

“If we reduce risk the right way and work together, investment will come; the next decade must focus on growing proven, bankable projects that deliver real value to the country, ” he further said.

In his closing remarks, Mr Anowi noted that Africa and Nigeria in particular are investable when risks are planned for and managed carefully, not ignored.

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