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

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iba-monarch

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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TCN Confirms Destruction of Six Transmission Towers in Nasarawa

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Transmission Towers

By Adedapo Adesanya

The Transmission Company of Nigeria (TCN) has confirmed the destruction of six transmission towers along the Apir–Lafia 330kV line in Nasarawa State, causing significant disruption to electricity supply in parts of the country.

In a statement issued on Wednesday, TCN spokesperson, Mrs Ndidi Mbah, said the incident occurred on May 30 at about 1:15 a.m. during a heavy downpour.

She explained that the transmission line initially tripped, prompting operators to attempt a trial reclosure of Line II at about 2:08 a.m., but the effort failed.

A subsequent inspection of the transmission corridor, however, revealed extensive damage to key components of towers T125 to T130, confirming that the infrastructure had been vandalised.

“The tripping of the lines prompted a physical line trace to determine the fault, which revealed damage to critical components of towers T125 to T130, confirming vandalism on the affected sections of the transmission corridor,” Mbah said.

The incident has forced both Apir–Lafia 330kV Transmission Lines I and II out of service pending the reconstruction of the damaged towers.

TCN said its engineers have been deployed to the site to assess the extent of the damage and determine the materials required to restore normal transmission along the corridor.

As an interim measure, the Lafia 330kV Transmission Station is being supplied through an alternative line to minimise the impact on electricity consumers within the franchise areas of Abuja Electricity Distribution Company (AEDC) and Jos Electricity Distribution Company (JEDC).

The company condemned the persistent vandalism of power infrastructure, warning that such acts undermine investments in the electricity sector and threaten the stability of the national grid.

It also urged residents and host communities to remain vigilant and report suspicious activities around transmission installations to security agencies or the nearest TCN office.

TCN stressed that safeguarding critical national infrastructure requires collective responsibility to ensure a reliable and uninterrupted electricity supply nationwide.

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IFC, NGX Group, LCCI Unveil Nigeria Gender Country Programme

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Gender and Equal Opportunities Commission

By Aduragbemi Omiyale

A Nigeria Gender Country Programme (NGCP) to advance private sector action on gender equality and inclusive economic growth has been unveiled at a high-level virtual CEO Roundtable convened by the International Finance Corporation (IFC), Nigerian Exchange (NGX) Group Plc, and the Lagos Chamber of Commerce and Industry (LCCI).

The NGCP builds on the momentum of Nigeria2Equal and other initiatives that have advanced workplace inclusion, women’s leadership, entrepreneurship, and sustainable finance across Nigeria’s private sector.

Designed as a more integrated and collaborative platform, the programme seeks to scale impact through coordinated action among development institutions, business leaders, regulators, and the organised private sector.

Anchored on three strategic priorities, the programme aims to increase women’s representation in leadership, improve access to quality employment, and expand access to productive assets—including finance, technology, and markets—for women and women-led businesses.

The partners are expected to formally launch the Nigeria Gender Country Program at a physical event scheduled for July 9, 2026, where stakeholders will further advance implementation of the programme’s strategic priorities.

At the virtual event, the Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, said, “Gender inclusion is fundamentally an economic growth imperative. Closing gender gaps can unlock billions of dollars in value for Nigeria while strengthening business performance and national competitiveness. We must therefore move beyond viewing inclusion as a corporate social responsibility initiative or compliance exercise, and instead recognise it as a strategic driver of productivity, innovation, and sustainable economic growth.”

Commenting on the initiative, the chief executive of NGX Group, Mr Temi Popoola, said the initiative “presents a significant opportunity to deepen impact and accelerate progress across corporate Nigeria. By expanding women’s access to leadership opportunities, quality employment, finance, technology, and markets, we can unlock substantial economic value while building a more competitive, inclusive, and resilient private sector. At NGX Group, we believe the capital market has a critical role to play in advancing these outcomes through stronger governance, transparency, and stakeholder engagement.”

On his part, the IFC Head of Office in Lagos, Mr Christian Mulamula, said, “Closing the gender gap is one of the most significant opportunities to strengthen competitiveness and productivity. Across Africa, gender inequality is estimated to cost up to $2.5 trillion. Through the Nigeria Gender Country Program, IFC is working with the private sector to expand women’s leadership, improve access to better jobs, and increase opportunities for women-led businesses. Building on Nigeria2Equal, this initiative focuses on practical, measurable solutions that help businesses grow while advancing inclusive growth.”

In her remarks, the DG of LCCI, Ms Chinyere Almona, noted that the programme’s success would depend on leadership accountability and sustained commitment from business leaders, particularly in embedding gender inclusion into organisational strategy and execution.

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VDR, ECDIS Data Retrieved as NSIB Probes Maersk Vessel Collision at Bonny Anchorage

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Maersk Vessel Collision

By Adedapo Adesanya

The Nigerian Safety Investigation Bureau (NSIB) has commenced a forensic investigation into the collision between the container vessel MV Maersk Valparaiso and the oil tanker MT Lady Martina at Bonny Anchorage in Rivers State, following the download of Voyage Data Recorder (VDR) and Electronic Chart Display and Information System (ECDIS) data from the vessel for navigational analysis.

The bureau’s Director of Public Affairs and Family Assistance, Mrs Funke Adebayo Arowojobe, explained that in line with the International Maritime Organisation (IMO) Casualty Investigation Code and international obligations, NSIB had formally notified the Transport Safety Investigation Bureau (TSIB) of Singapore as a substantially interested State.

The incident, which occurred on May 20, 2026, has been classified by the bureau as a Very Serious Marine Casualty (VSMC).

She also said that NSIB activated its marine occurrence response protocols immediately after receiving notification of the incident, noting that the investigation Go-Team was deployed to Onne and Bonny on May 22 to commence evidence preservation and preliminary investigative activities.

The bureau disclosed that investigators boarded both vessels and conducted interviews with their masters and key crew members, while operational records and navigational data linked to the incident were secured.

Also, the director stressed that the bureau had commenced collaborative engagement with relevant local and international stakeholders as part of the investigation process, assuring the public and maritime stakeholders that the investigation would be conducted with professionalism, independence and thoroughness, stressing that the objective was to determine the causal and contributory factors of the occurrence and enhance maritime safety.

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