News
BREAKING: Oodua groups back Tinubu on fuel subsidy removal
The Coalition of Oodua Self-Determination Groups has appealed to Nigerians to support the subsidy removal by President Bola Tinubu saying that he took the right decision.
The leader of the Yoruba groups, Mr Razak Olokoba, while speaking in a joint press conference held at the Airport Hotel, Ikeja, Lagos State on Tuesday, June 6, 2023, said Nigeria cannot continue to budget trillions of naira on fuel subsidy alone.
He said, “For this year, 2023, Nigeria budgeted N11 trillion of its oil revenue on subsidising petrol alone. This cannot continue. This is good money going down the drain, with little or nothing to show for it.
“This huge amount can be channelled into solving our several deficits, including, infrastructural, housing, education, healthcare and generally upgrading the quality of life for Nigerians. It will also help strengthen the naira.
Olokoba stressed that Nigeria’s economy depends 90 per cent on petroleum exports for its revenue and one-third of its Gross Domestic Product has been zero revenue from the sector, adding, “Tinubu said he inherited the assets and liabilities of the last regime. Nigeria currently owes massive local and foreign debts to the tune of N71 trillion.”
The group’s leader maintained that if the subsidy is not killed, it will kill Nigerians while explaining that since the year 2000 when the Nigerian government gave 20 refinery licences to private companies, adding that none was built apart from Dangote’s recently inaugurated.
Olokoba further encouraged competition in the oil sector, noting that it will bring about lower prices.
Details later…
News
Boko Haram Denies Ceasefire with FG, Vows Continued Attacks
Boko Haram has strongly denied reports of a ceasefire agreement with the Federal Government and insisted that it will continue its campaign of attacks.
In a statement released by the group, the militants dismissed claims of any truce or negotiated pause in hostilities, describing such reports as false and misleading.
The group reaffirmed its commitment to ongoing operations against government forces and other targets, vowing that its attacks will persist without interruption.
The denial comes against the backdrop of persistent insecurity in the northeast and other affected regions, where the group has maintained a long-standing insurgency.
Security sources note that the latest statement appears aimed at clarifying the group’s position and rejecting any suggestion of dialogue or de-escalation with the authorities.
Military and government officials have not issued an immediate detailed response to the claim, though security operations against the militants remain active. Authorities continue to urge vigilance as the group signals its intention to sustain violence.
News
Police Raise Alarm Over Terrorists and Informants Spying on Schools, Other Targets
Police authorities have raised a serious alarm over intelligence indicating that terrorists and their informants are actively spying on schools and other sensitive targets across the country.
According to security sources, the surveillance activities form part of a broader effort by extremist groups to gather information on soft targets, with educational institutions identified as particularly vulnerable. Officials warn that such reconnaissance could be a precursor to planned attacks and have called for immediate heightened vigilance by school administrators, security personnel, and the general public.
The police statement urges institutions to strengthen access controls, report suspicious individuals or activities promptly, and cooperate fully with security agencies. “We are treating these reports with the utmost seriousness,” a senior police official said, noting that the involvement of local informants makes the threat more difficult to detect.
The military has responded by confirming that it is closely monitoring the situation. In a brief statement, military authorities said relevant formations have been placed on alert and are working in coordination with the police and other security agencies to track and disrupt any potential threats.
Security experts note that schools and public gathering places have increasingly featured in the operational planning of terrorist groups in recent years, making continuous intelligence sharing and community awareness critical to prevention. Authorities continue to appeal for calm while stressing that proactive measures are already underway.
News
Dangote Refinery IPO: SEC Warns Investors, ‘Don’t Pay Into Wrong Hands’
The warning effectively places investors on notice that interest in the IPO should not override basic due diligence, particularly in verifying where subscription applications are submitted and where payments are made.
• Aliko Dangote , flanks by her daughters and capital market regulators, during the gong opening ceremony on the NGX, Monday September 14,2026
The Securities and Exchange Commission (SEC) has warned prospective investors in the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO) against fraudsters and unauthorised platforms seeking to divert subscription funds.
The warning came as the refinery’s was quoted on the Nigerian Exchange Limited (NGX) on Monday, September 14, 2026, marking a major milestone in the company’s planned public offer.
With strong public interest expected around one of Nigeria’s largest capital-market offerings, the SEC urged investors to deal only with officially designated and approved receiving agents, subscription channels and platforms.
“The public is hereby advised to exercise caution and ensure that all applications and payments relating to the IPO are made only through the officially designated and approved receiving agents/subscription channels and platforms,” the Commission said.
The regulator’s alert highlights growing concerns over the possibility of fake investment websites, cloned platforms, fraudulent payment channels and individuals posing as authorised agents to exploit the huge interest generated by the Dangote Refinery offer.
The SEC therefore advised prospective investors to obtain information about the IPO only through the Commission’s official channels, the issuer’s official channels and other channels specifically established and approved for the offer.
The warning effectively places investors on notice that interest in the IPO should not override basic due diligence, particularly in verifying where subscription applications are submitted and where payments are made.
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