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Tiubu appoints Sotinrin as MD of Bank of Agriculture

President Bola Ahmed Tinubu has appointed Ayo Sotinrin, a seasoned executive and former Group CEO of SAO Group, as the new Managing Director of the Bank of Agriculture.
This announcement was made on Friday, April 4, 2025, by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
The president expressed confidence in Sotinrin’s ability to lead a transformative era at the Bank of Agriculture, citing his extensive experience across both private and public sectors. According to the statement, Sotinrin’s appointment is a strategic move aimed at strengthening the institution’s role in advancing food security, agricultural innovation, and rural development across Nigeria.
“Mr. Sotinrin brings a wealth of experience and a track record of success in mobilizing capital, driving agribusiness innovation, and fostering public-private partnerships,” the statement read. “His leadership is expected to reposition the Bank of Agriculture as a key instrument for ensuring food sovereignty and economic prosperity in rural communities.”
Before his appointment, Sotinrin served as Group CEO of SAO Group, where he oversaw operations in agribusiness, infrastructure development, and capital management. Under his leadership at SAO Agro, the company undertook major agricultural ventures, including a 20,000-hectare oil palm project, and large-scale operations in poultry, aquaculture, maize, and cassava in Ondo State.
In addition, Sotinrin spearheaded capital mobilization efforts at SAO Capital, raising over $750 million for development and infrastructure financing. Notable among these was the $200 million Akure Water Supply Project, a landmark initiative aimed at improving urban water access.
SE
Sotinrin also has significant experience in the public sector, having served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory (FCT) from 2011 to 2015. He has also worked with several international development agencies—including the World Bank, African Development Bank (AfDB), DFID, and USAID—offering consultancy and advisory services for high-level projects at both federal and state levels.
Internationally, he has held key positions at renowned institutions such as the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Academically, Sotinrin holds an Executive MBA from Saïd Business School at Oxford University, a Master’s degree in Engineering Business Management from the University of Warwick, and an Advanced Diploma in Environmental Conservation.
The presidency noted that Sotinrin’s appointment is consistent with President Tinubu’s broader agricultural revival strategy, aimed at transforming the sector into a cornerstone of national development and food self-sufficiency.
More details on his strategic roadmap for the Bank of Agriculture are expected in the coming weeks.
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NDLEA nabs bandits supplier with drugs concealed in private part(Photos)

… intercepts cocaine in Saudi-bound religious books,
. ..recovers 563kg skunk, meth, heroin in Bayelsa warehouse, arrests 4; destroys cannabis farms in Edo forest
Operatives of the National Drug Law Enforcement Agency (NDLEA) have intercepted a shipment of cocaine concealed in 20 sets of religious books going to Saudi Arabia.
The cocaine consignment consisting of 20 parcels with a total weight of 500grams and buried in the pages of the religious books was uncovered at a courier company in Lagos on Tuesday 15th April 2025 when NDLEA officers of the Directorate of Operations and General Investigation (DOGI) were searching through export cargos going to Saudi Arabia at the logistics firm.
At another courier company same day, NDLEA officers intercepted five parcels of Loud, a strong strain of cannabis weighing 2.8 kilograms hidden in a carton coming from the United States of America.
In Kano, a 22-year-old supplier of illicit substances to bandits, Muhammad Mohammed, has been arrested by NDLEA operatives on patrol along Bichi – Kano road while heading to Katsina with 277 ampoules of pentazocine injection tied to his thigh and private part with Sellotape. He was intercepted on Sunday 13th April, while another suspect, Mohammed Abdulrahman Abdulaziz, 43, was nabbed same day at Research Rimin Kebe area of Nasarawa, Kano with 68 blocks of skunk, a strain of cannabis, weighing 30kg.
Not less than 557.2kg of skunk, 5.6kg of methamphetamine and 29.8grams of heroin were recovered from a house along Major General Isaiah Alllison Street, Opolo, Yenagoa, Bayelsa state where four suspects were arrested when NDLEA operatives raided the premises on Wednesday 16th April. The four suspects arrested during the raid include: Sarimiye Suwa Kurtis, 46; Roland Prosper, 34; Sarimiye Tare Paul, 45; and Fidelis Ugbesla, 46.
While a total of 1,100 kilograms of skunk were recovered from a delivery van with the driver, Ismail Abdullahi arrested in Surulere area of Lagos on Thursday 17th April, NDLEA operatives in Kaduna on Friday 18th April raided the hideout of a suspect, Ike Ani, 30, in Zaria, where no fewer than 31,950 pills of tramadol 225mg and diazepam were recovered.
In Kebbi, NDLEA operatives on patrol along Bagudo road on Friday 18th April intercepted a vehicle loaded with bags of charcoal coming from Malabil, Benin Republic. A search of the vehicle led to the recovery of 97kg skunk concealed in the sacks of charcoal. Three suspects: Abubakar Ibrahim, 50; Mustapha Aliyu, 32; and Bashar Lawali, 28, were arrested in connection with the seizure.
A 48-year-old Okafor Marcel was nabbed with 11.5kg skunk at Abatete, Anambra state while NDLEA operatives in Osogbo, Osun state on Tuesday 15th April arrested Ajala Mercy, 27, with 43 litres of skushi, a mixture of black currant, cannabis and opioids recovered from her room at Dada estate, Halleluyah area of the state capital.
Two cannabis farms in Egbeta forest, Ovia North East LGA, Edo state were raided by NDLEA operatives who destroyed 3,717.8625kg of the psychoactive plant on 1.487145 hectares and recovered 136.5kg of processed cannabis.
At the Tincan seaport in Lagos, a suspect Basorun Usman Kayode, 40, who has been at large for two years was arrested by NDLEA officers in connection with the seizure of 107kg Loud imported from Cannada in 2023, while another suspect, Dauda Yakubu who distributes illicit drugs within the seaport community was arrested by a team of operatives on Monday 14th April.
The War Against Drug Abuse, WADA, social advocacy activities by NDLEA Commands equally continued across the country in the past week. Some of them include: WADA sensitization lecture delivered to students and staff of St. Michael Anglican Primary School, Epe, Lagos; Community Grammar School, Ipoti Ekiti, Ekiti state; College of Education, Minna, Niger state; traders at Igbona market, Osogbo, Osun state; traders at Marian Market, Calabar, Cross River; drivers and others at Peace Mass Transit park, Upper Iweka, Onitsha, Anambra state, among others.
While commending the officers and men of DOGI, Kano, Lagos, Kaduna, Kebbi, Osun, Zone 13, Edo and Tincan Commands of the Agency for the arrests and seizures of the past week, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) equally praised their counterparts in all the commands across the country for ensuring a fair balance between their drug supply reduction and drug demand reduction efforts.
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SAD! SEC DG says “we can’t recover N1.3trn Nigerians lost to CBEX ponzi scheme”

Dr Emomotimi Agama, the Director General of the Security and Exchange Commission (SEC), has explained that there is nothing the Commission can do to help victims of the CBEX scam recover their lost investments.
CBEX or Crypto Bridge Exchange, an unregistered online trading platform vanished last Monday with about N1.3 trillion invested by about 600,000 investors.
CBEX which had operated under ST Technologies International Ltd lured its victims with a 100 percent returns on investment after 30 days.
Asked by Sunday Vanguard if there is anything the Commission can do to help victims recover their money in part or in full, Dr Agama said: “There is nothing the Commission can do”.
He however expressed concern that Nigerians continued to invest in an unregistered digital entity without drawing the attention of the Commission.
“We are worried that this went on for long without anyone drawing our attention to it. That is why we are doing more enlightenment and asking people to come forward to report this for early detection.
How Nigerians can identify a Ponzi Scheme
He warned Nigerians against investing their money in Ponzi Schemes, saying such schemes make promises that are not real.
“You can identify a Ponzi Scheme when an entity makes offers that appear certainly untrue and are bogus. The definition we have in the ISA (Investments and Securities Act, 2025) clearly tells you that when an investment firm makes any promise that is almost totally unattainable, you will know that that is clearly a Ponzi scheme”.
SEC disclosed that preliminary investigations have revealed that CBEX engaged in promotional activities to create a false perception of legitimacy, in order to entice unsuspecting members of the public into investing monies, with the promise of implausibly high guaranteed returns within a short timeframe.
The Commission stated that CBEX, which also operates under the corporate identity of ST Technologies International Ltd, Smart Treasure/Super Technology, had held itself out as a digital asset-trading platform, offering high returns to investors in Nigeria.
According to the SEC, “The Commission hereby clarifies that neither CBEX nor its affiliates were granted registration by the Commission at any time to operate as a Digital Assets Exchange, solicit investments from the public or perform any other function within the Nigerian capital market.
The SEC emphasised that pursuant to the provisions of Section 196 of the Investments and Securities Act 2025, the Commission would collaborate with relevant law enforcement agencies to take appropriate enforcement action against the CBEX, its affiliates and promoters.
“The Commission uses this medium to remind the public to refrain from investing in or dealing with any entity offering unrealistic returns or employing similar recruitment-based investment models. Prospective investors are advised to verify the registration status of investment platforms via the Commission’s dedicated portal: www.sec.gov.ng/cmos before transacting with them”, the SEC added.
How I lost N500,000 in 7 days – Victim
Narrating how he got involved in the doomed platform, an Abuja based journalist told Sunday Vanguard that he invested N500,000 on April 4, 2025 with the hope of receiving N1 million after 30 days.
The journalist who requested not be named said: “I was involved for just seven days and lost N500,000 to the scam. I have a friend who has been pressuring me to invest on CBEX since December last year and I actually have been resisting because of my past experience with MMM.
“But he kept telling me and showing me how much he was making. So, I decided to give it a try and I got involved and finally transferred N500,000 on April 4. I was admitted into a Telegram group chat. Then the story began. The only luck I have is that my wife refused to be involved after I asked her to. I would have been in serious trouble by now.
“Immediately I got wind of troubles especially when people were locked out of the Telegram group, I tried to withdraw my money which had risen to N616,000 but I couldn’t”, he narrated.
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