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NewsGold hits record high as investors seek safe haven
NewsNigerian banking sector assets grow by 45% year-on-year
NewsBitcoin surges past $87,000 on ETF inflows
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
DOW42,850.22 0.32%
BTC$87,250 3.20%
NEWSNNPC reports 47% profit increase
NewsBrent crude approaches $75 amid Middle East tensions
EUR/USD1.0845 0.12%
NewsDangote Refinery begins petrol production
NewsNigeria's inflation rate drops to 24.48% in January
NewsOil prices rally on OPEC+ production cuts extension
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNigeria exits technical recession with 3.46% GDP growth
WTI$68.92 1.80%
UPDATENDDC launches ₦2.5bn infrastructure bond
NewsEuro depreciates against dollar ahead of ECB meeting
NewsNaira stabilizes at N1,550/$1 in official market
BREAKINGNigeria secures $2.25 billion World Bank loan
NAS18,290.25 1.05%
NewsCBN raises interest rate by 400 basis points to 22.75%
BREAKINGSEC announces new rules for digital assets
NewsStock market capitalization crosses N55 trillion mark
UPDATETinubu approves ₦3 trillion for power sector
ALERTAviation fuel prices drop by 8%
S&P5,776.65 0.15%
GOLD$2,890.5 0.85%
BRENT$72.45 2.10%
USD/NGN₦1,550 0.45%
NGXASI98,575.68 1.25%
NewsGold hits record high as investors seek safe haven
NewsNigerian banking sector assets grow by 45% year-on-year
NewsBitcoin surges past $87,000 on ETF inflows
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
DOW42,850.22 0.32%
BTC$87,250 3.20%
NEWSNNPC reports 47% profit increase
NewsBrent crude approaches $75 amid Middle East tensions
EUR/USD1.0845 0.12%
NewsDangote Refinery begins petrol production
NewsNigeria's inflation rate drops to 24.48% in January
NewsOil prices rally on OPEC+ production cuts extension
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNigeria exits technical recession with 3.46% GDP growth
WTI$68.92 1.80%
UPDATENDDC launches ₦2.5bn infrastructure bond
NewsEuro depreciates against dollar ahead of ECB meeting
NewsNaira stabilizes at N1,550/$1 in official market
BREAKINGNigeria secures $2.25 billion World Bank loan
NAS18,290.25 1.05%
NewsCBN raises interest rate by 400 basis points to 22.75%
BREAKINGSEC announces new rules for digital assets
NewsStock market capitalization crosses N55 trillion mark
UPDATETinubu approves ₦3 trillion for power sector
ALERTAviation fuel prices drop by 8%
S&P5,776.65 0.15%
GOLD$2,890.5 0.85%
BRENT$72.45 2.10%
USD/NGN₦1,550 0.45%
NGXASI98,575.68 1.25%
NewsGold hits record high as investors seek safe haven
NewsNigerian banking sector assets grow by 45% year-on-year
NewsBitcoin surges past $87,000 on ETF inflows
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
DOW42,850.22 0.32%
BTC$87,250 3.20%
NEWSNNPC reports 47% profit increase
NewsBrent crude approaches $75 amid Middle East tensions
EUR/USD1.0845 0.12%
NewsDangote Refinery begins petrol production
NewsNigeria's inflation rate drops to 24.48% in January
NewsOil prices rally on OPEC+ production cuts extension
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNigeria exits technical recession with 3.46% GDP growth
WTI$68.92 1.80%
UPDATENDDC launches ₦2.5bn infrastructure bond
NewsEuro depreciates against dollar ahead of ECB meeting
NewsNaira stabilizes at N1,550/$1 in official market
BREAKINGNigeria secures $2.25 billion World Bank loan
NAS18,290.25 1.05%
NewsCBN raises interest rate by 400 basis points to 22.75%
BREAKINGSEC announces new rules for digital assets
NewsStock market capitalization crosses N55 trillion mark
UPDATETinubu approves ₦3 trillion for power sector
ALERTAviation fuel prices drop by 8%
NGX INDICES
NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
MARKET NEWS
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
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Financial EDGE

Ex-Lagos council chief arrested as NDLEA recovers illicit drugs in baby diapers

By EditorResearch Signal
Ex-Lagos council chief arrested as NDLEA recovers illicit drugs in baby diapers
Click to expand
A former two terms Councilor at Ibeju-Lekki local government council in Lagos state, Sheleru Sadiq Olalekan has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) following credible intelligence linking him to illicit drug sale and trafficking. The 45-year-old ex-local council chief who currently serves as a legislative aide was arrested on Monday 2nd March 2026 at his residence in Ilado, Ibeju-Lekki Lagos where a search was conducted and 40 kilograms of skunk, a strain of cannabis, were recovered from one of his rooms. In his statement, Sheleru admitted ownership of the exhibit and the property where it was recovered. He said he had previously served two terms as a Councilor representing Orimedu community in Ibeju-Lekki local government council. At the Federal Capital Territory Abuja, NDLEA officers on Tuesday 3rd March, intercepted a 32-year-old businessman Emeka Hyginus Okwor, in a vehicle coming from Obollo- Afor in Enugu state to Zuba, FCT. When his luggage was searched, 1,000 pills of tapentadol 250mg, were found concealed inside baby diapers. The suspect admitted ownership and revealed that he was taking the consignment to Guduwa village in Gurara LGA, Niger state where he has a provision store. On same day, 3rd of March, NDLEA operatives on patrol along Kabba/Obajana highway, Kogi state, intercepted a consignment of Colorado, a synthetic strain of cannabis weighing 1.550kg concealed inside a standing fan carton belonging to 36-year-old Cameroonian, Mey Ali Muhamat who hails from Maroua, Republic of Cameroon. The suspect was travelling in a commercial bus from Lagos to Cameroon enroute Lokoja, Kano and Maiduguri. In Niger state, operatives on patrol along Mokwa - Jebba road on Wednesday 4th March intercepted a commercial bus coming from Ibadan, Oyo state with 500 pieces of improvised explosive device (IED) components concealed inside a white sack to be delivered to a recipient at Pelegi. A swift follow up operation led to the arrest of the recipient, Osama Abdullahi, 21, at Pelegi, Mashegu local government area of the state. No fewer than 122,000 pills of tramadol and 700grams of methamphetamine were recovered from the false bottom of a truck marked ENU 645XX conveying 2000 cartons of local drinks by NDLEA operatives in Yola, Adamawa state on Wednesday 4th March. While Muhammed Ali, 20, was nabbed at Gadar Tamburawa, Kano, on Tuesday 3rd March, with 11,283 pills of tramadol, NDLEA officers in Ogun state conducted a raid operation in Ogere, where they arrested two suspects: Nazifi Mudansir and Kabiru Musa, in possession of 46 kilograms of skunk. In Delta, two suspects: Joy Chukwuma, 25, and Eugene Felix, 22, were nabbed on Saturday 7th March at Ogwashi uku with 18.63kg skunk, 10.8 litres of codeine-based syrup and 4,268 pills of tramadol and swinol. A 48-year-old suspect Eke London and his accomplice Austin Isusi, 49, were arrested at Egbisi forest, Uhumwonde LGA, Edo state where 1,910.25kg of skunk was destroyed by NDLEA operatives on two farms, while at Ikhin town, Owan East LGA, another suspect Alaba Adeboye, 47, was apprehended with 176.50kg skunk. With the same vigour, Commands and formations of the Agency across the country continued their War Against Drug Abuse (WADA) sensitization activities in schools, worship centres, work places and communities among others in the past week. These include: WADA enlightenment lecture to students and staff of Government Senior College, Apata, Ibadan, Oyo state; Government Girls Secondary School, Katcha, Niger; Government Girls Day Secondary School, Tsafe, Zamfara; Sango Junior Secondary School, Agege, Lagos; Government Day Secondary School, Illelah, Sokoto; Archbishop Akinola International Secondary School, Afikpo, Ebonyi and Nnamdi Azikiwe Secondary School, Abagana, Anambra state, among others. While commending the officers and men of Lagos, FCT, Kano, Niger, Kogi, Edo, Ogun, Delta, Adamawa, and Edo Commands for the arrests, seizures and their dexterity, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) enjoined them and their colleagues across the country to continue with the ongoing balanced approach to the drug control efforts of the Agency.