News
CPPE Tells FCCPC Stop Intimidation of Traders
▪︎Dr Muda Yusuf, the CEO of CPPE
The Centre for the Promotion of Private Enterprises (CPPE) has charged at the Federal Competition and Consumer Protection Commission [FCCPC], to refrain from further intimidation of the operators in the retail sector of the economy most of whom are micro and small businesses, with many in the informal sector.
Dr Muda Yusuf, the CEO of CPPE, made the call, while reacting to the last week’s threat by the FCCPC to traverse markets across the country with objective of forcing traders, supermarkets owners, market men and women to reduce the prices of essential food items.
Dr Yusuf, told journalists in Lagos, at the weekend : ” The FCCPC appears to be unwittingly transforming into a price control agency rather than a consumer protection commission.
The disproportionate focus of the commission on the retail segment of the economy and pricing issues underscores this assertion.
The core mandate of the commission is the creation of a robust competition framework across sectors and protection of consumer rights and interests.
Consumer protection is not about directly seeking to control price at the retail end of the supply chain.
This is why the CPPE is concerned about the approach, methodology, targeting and the recent threats by the FCCPC to market leaders, traders and supermarket owners.”
The commission seem to be fighting the symptoms rather than dealing with the causes of the current inflationary pressure in the economy.
Even then, the core mandate of the commission is not to fight inflation.
The fiscal and monetary authorities are statutorily responsible for macroeconomic policy issues and are better placed to deal with the challenge of high prices,” he said.
He urges the FCCPC, to have a proper comprehension of the dynamics of pricing and the key drivers of inflation.
” These factors include the naira exchange rate depreciation, high energy cost, high cost of logistics, seasonality of food production, high cost of funds, extortions on the highways, high post-harvest losses, high cargo clearing cost, impact of the insecurity on food production, climate change and global factors disrupting supply chains.
” Our view is that the proposal by the FCCPC is unlikely to yield concrete outcomes. This is not a sustainable strategy.
What we need to fix are the fundamentals driving production, operating and distribution costs which resulted in spiraling inflation in the first place.
The dynamics of pricing and prices in an economy are much more complex and fundamental and do not seem aligned with the comprehension of the FCCPC on the issue. The variables are numerous, multidimensional and dynamic.
It is difficult to make pronouncements on issues profiteering in such circumstances without a rigorous analysis based on data.”
News
BREAKING: Two-Storey Building Collapses in Ajuwon, Residents Feared Trapped
A two-storey residential building has collapsed along Baale Road (also referred to as Baale Street) near Ajuwon Bus Stop in Ajuwon/Akute, Ifo Local Government Area of Ogun State, on Monday, 27 July 2026, leaving several occupants feared trapped under the rubble.
The incident, which occurred in the Lagos-Ogun border community, triggered panic among residents and passers-by as the structure gave way unexpectedly. Crowds quickly gathered at the scene while waiting for emergency responders. Eyewitnesses described chaotic scenes of people attempting to dig through the debris by hand.
According to one eyewitness identified as Anthony, only a single male occupant managed to escape before the building became completely inaccessible. The survivor reportedly told those at the scene that his wife and children remained trapped inside.
Preliminary reports indicate that at least three people — including a grandmother, her toddler grandchild, and another man — have been rescued from the rubble and taken to hospital. Several others are still feared trapped. The exact number of people affected, including any injuries or fatalities, has not been officially confirmed by authorities at the time of reporting.
The Executive Chairman of Ifo Local Government, Hon. Idris Kusimo, has arrived at the scene and is coordinating with residents and responders. Rescue operations involving locals and emergency personnel are ongoing.
Urgent Appeal
An urgent call has gone out to the Ogun State Government, Ogun State Emergency Management Agency, relevant state fire and rescue services, the National Emergency Management Agency (NEMA), and all other emergency responders to immediately mobilise fully equipped teams to the location to rescue those still trapped beneath the debris.
Further updates will follow as official information becomes available. Residents in the area are advised to stay clear of the site to allow unhindered access for rescue teams.
News
TCN Foils Theft Attempt, Recovers Tower Members at Bauchi Substation
The Transmission Company of Nigeria, TCN, foiled an attempted theft at its 330/132kV transmission substation in Bauchi on Friday, July 24, 2026, at about 9:34pm.
Security personnel at the substation intercepted suspected vandals attempting to remove critical tower members. The suspects fled the scene on sighting the guards.

An inspection of the area led to the recovery of 12 transmission tower angle irons, one heavy-duty metal measuring scale, and a white pickup truck believed to have been used for the operation.
The recovered items and the vehicle have been handed over to the Railway Division Police Station, Bauchi, for further investigation.
No equipment was carted away and no injuries were recorded during the incident.
TCN commends the prompt response of its security team, whose vigilance prevented the theft of or damage to critical transmission infrastructure.
TCN reiterates the need for host communities to report suspicious activities around power installations to security agencies or the nearest TCN office.
News
ISWAP Finance Chief Surrender To Nigeria Military
The senior operative surrendered to troops of 3 Battalion under 24 Task Force Brigade at about 06:45 WAT on 25 July along the Ladari-Jegarawa-Tunokalia axis of the Gamboru-Wulgo Main Supply Route. He arrived with two male children, voluntarily laying down his arms before the troops.
Credit: Operation HADIN KAI
Military authorities confirmed on Monday a senior Islamic State West Africa Province (ISWAP) finance operative, has surrendered to Operation HADIN KAI in Nigeria’s North-East.
Acting Military Information Officer, Headquarters Joint Task Force (North East) Operates HADIN KAI, Captain Mohammed Goni, disclosed this in a statement, emphasising that the surrender followed coordinated land and air offensives that have intensified pressure on terrorist enclaves, contributing to a growing wave of defections.
The senior operative surrendered to troops of 3 Battalion under 24 Task Force Brigade at about 06:45 WAT on 25 July along the Ladari-Jegarawa-Tunokalia axis of the Gamboru-Wulgo Main Supply Route.
He arrived with two male children, voluntarily laying down his arms before the troops.
Preliminary profiling by the Theatre Command identified the individual as the chief finance operative of the ISWAP enclave at Jubillaram, where he reportedly managed the terrorist group’s financial activities and logistics support.
Military authorities further disclosed that about 46 terrorists and their family members have voluntarily surrendered in recent days, suggesting that the combination of kinetic operations and intelligence-led campaigns is steadily weakening ISWAP’s cohesion and sustainment capabilities.
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