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N4.4bn worth cocaine seized at Lagos airport (Photos)

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… operatives busts international syndicate

…as NDLEA grills 30 suspects
. Intercepts UK, UAE, Australia-bound cocaine, cannabis, tramadol concealed in body cream containers, art work

The bid by members of an international drug syndicate that operates between Brazil, Ethiopia and Nigeria to smuggle into Lagos a total of 845 wraps of cocaine weighing 18.72 kilograms has been thwarted and the consignments recovered by operatives of the National Drug Law Enforcement Agency, NDLEA, at the Murtala Muhammed International Airport, MMIA, Ikeja.

The drug consignments worth Four Billion Four Hundred and Ninety-Two Million Eight Hundred Thousand Naira (N4,492,800,000) in street value were recovered from two lavatories of an Ethiopian Airlines aircraft during the post landing cleaning of the cabin of flight ET900 from Addis Ababa to Lagos on Tuesday 29th October 2024.

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The illicit drug consignments were wrapped in nine polythene bags and hidden in the waste collectors in the two rear lavatories of the aircraft, from where they were recovered after the MMIA Strategic Command of NDLEA was alerted about the strange objects.

No fewer than 30 suspects have so far been grilled in connection with the seizure.

Investigations revealed that the seized drugs were conveyed from Brazil to Ethiopia through ingestion and excreted in Addis Ababa by a set of couriers while some other traffickers picked them up and attempted to smuggle them into Nigeria through the Lagos airport before their attempt was frustrated with the cooperation of the airline’s authorities and other airport stakeholders.

In the same vein, attempts by some drug trafficking syndicates to export 2.928kg cocaine, cannabis and tramadol 225mg concealed in body cream containers, and pieces of art work to Australia, United Arab Emirate and United Kingdom through some courier companies in Lagos were also blocked by NDLEA officers of the Directorate of Operations and General Investigation, DOGI, on Monday 28th October.

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At the Apapa seaport in Lagos, NDLEA operatives on Tuesday 29th October intercepted 754, 000 pills of tapentadol and acetaminophen 225mg worth Five Hundred and Twenty-Five Million Naira (N525, 000,000) in a targeted and watch-listed container from India during a joint examination with men of Customs Service and other security agencies.

In the Federal Capital Territory, FCT, a suspect Mujahid Hamisu, 24, was arrested with 147,000 pills of tramadol concealed in black nylon bags containing plumbing materials along Kwali-Gwagwalada Abuja expressway on his way from Onitsha, Anambra state on Saturday 2nd November 2024, while another suspect Seun Abimbola, 47, was nabbed by NDLEA operatives same day with 512 grams of methamphetamine during a raid operation at Giri junction area of the FCT.

In Kogi state, NDLEA officers on patrol along Kabba- Obajana highway arrested Mercy Ameh, 28, in a commercial bus travelling from Lagos to Abuja while a search of her luggage led to the recovery of fake Naira notes worth Four Million, Three Hundred and Fifty Three Thousand ,Two Hundred Naira (₦ 4,353,200), even as another suspect Shaibu Dahiru, 27, was nabbed in a vehicle coming from Lagos to Katsina along Lokoja- Okene- Abuja road on Thursday 30th October with 68 blocks of cannabis weighing 27.400kg

A notorious drug dealer Usman Abba (alias Timaya) who has been on the watchlist of the Katsina state command of NDLEA was on Wednesday 30th October arrested at Liberty Hotel, Kofar Kaura with consignments of Arizona, a strain of cannabis. Same day, NDLEA operatives in Adamawa arrested a suspect Augustine Dike, 31, with 50.3 grams of methamphetamine at Quarisa Hotel, Jimeta.

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In Taraba, operatives on Friday 1st November arrested Danlami Fakwa, 46, at Sabon Gari, Jalingo LGA, with 49.795kg cannabis, while a total of 561kg of same substance was recovered from a Sienna bus at Ogbese village in Ondo state on Monday 28th October.

A suspect Kabiru Yusuf, 25, was on Saturday 2nd October arrested in possession of 51,813 pills of tramadol and exol 5 at NDA Bus Stop, Kaduna, just as raids in Edo state led to the seizure of 603.6kg cannabis at Farm road, Ekiadolor and 308.4kg of same substance at Uroe community.

Meanwhile, across the country, NDLEA Commands continued their War Against Drug Abuse, WADA, sensitization lectures and advocacy visits to worship centres, schools, workplaces, palaces of traditional rulers and communities all through the past week. Instances include: WADA sensitization lecture to students and staff of Government Day Secondary School, Sanganare, Adamawa; students of College of Arts and Islamic Studies, Tungan Magajiya, Niger state; students and staff of Regina Catholic International College, Obehie, Abia state; students and teachers of Akinmorin Grammar School, Oyo, Oyo state; as well as students and teachers of Redeemer’s International School, Abakaliki, Ebonyi state, among others.


While commending the officers and men of MMIA, DOGI, Apapa, Kogi, FCT, Adamawa, Katsina, Kaduna, Ondo, Taraba, and Edo 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) also applauded their compatriots in all the commands across the country for intensifying the WADA sensitization lectures and advocacy messages to every part of their areas of responsibility.

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Tinubu swears in new ministers, says economic recovery is on the right path

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President Bola Tinubu on Monday assured Nigerians that his administration’s economic recovery plan was on the right path to realizing the nation’s dreams and aspirations.

The President stated this at the State House while inaugurating seven new Ministers after their confirmation by the Senate.

President Tinubu noted that his administration had steered the nation away from bankruptcy and stopped scavengers, profiteers and smugglers of our resources.

While congratulating the new ministers, he charged them to be committed and resilient as they join other members of his cabinet working tirelessly to rescue the nation, reminding them that they were coming in to serve at a critical time.

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“The moment is challenging; the present situation calls for a very serious commitment. Yours is a duty to serve and that is what you have come to do. I really appreciate the fact that you have taken the oath of office and ready to serve your nation at a time that we are facing the challenges of economic growth and other things like the security challenges on us.

“Economic recovery is on the right path. We have a good path to realize our dream and it is not just only for us, it is for our children and grandchildren to come. Despite the challenges, we faced the job of reengineering and retooling the economic path of this country. Yes, the cost of living has gone up; yes, I recognize that, and we have satisfied our obligations of paying a new minimum wage across the board.

“For us, it was a challenge when a nation was servicing its debt with 97% of its earned revenue. It is not but the end of the cliff but today I can report that we have brought that down to 65% and we have never defaulted in paying our obligations; we have met all obligations – both foreign and domestic. We have our heads above the waters,” the President further stated.

While pointing out that such economic challenges were not peculiar to Nigeria, President Tinubu said his administration was committed to overcoming the challenges.

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“Other countries too around us and across the world are facing challenges. There are a lot of crises in Europe and America. We know what pandemic has brought to the economies of the world, but we are navigating through this and we are working hard. We are not going to run away from our responsibilities; we are going to face it and we are facing it headlong,” the President stressed.

The newly inaugurated ministers are: Dr. Nentawe Yilwatda – Minister of Humanitarian Affairs and Poverty Reduction; Alhaji Muhammadu Maigari Dingyadi – Minister of Labour and Employment, and Mrs. Bianca Odumegwu-Ojukwu – Minister of State for Foreign Affairs.

Others are Dr. Jumoke Oduwole as Minister of Industry, Trade and Investment; Mr. Idi Mukhtar Maiha as Minister of Livestock Development; Yusuf Abdullahi Ata as Minister of State for Housing and Urban Development, and Dr. Suwaiba Said Ahmad as Minister of State for Education.

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Multiple Accidents Involving Four Vehicles On 3rd Mainland Bridge +Video

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Multiple accident involving four vehicles was reported at Ilaje on 3rd Mainland Bridge on Monday, November 4, 2024.

No life was lost in the accident according to the video posted on x.com by LASTMA officials.

“There’s a report of a multiple accident involving 4 vehicles at Ilaje on 3rd Mainland Bridge inward Adeniji.

Backlog now at Iyana-Oworo. Men of The Nigeria Police are on ground and effort is on to evacuate then to the side of the road to ease better movement towards Adeniji. Officers are on ground managing the traffic accordingly.”

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WATCH THE VIDEO: https://x.com/WAJU73/status/1853424263727915308

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Access Holdings Reports ₦41.1trn Total Assets, ₦3.4trn Gross Revenue In Q3

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By Gloria Ikibah
 
 
Access Holdings Plc has reported its unaudited results for the third quarter ended September 30, 2024, as the financial results reveals the group’s continued growth momentum, emphasising resilience and sustainable performance as it works to deliver good returns for its shareholders.
 
Gross revenue for the nine-month period rose by 114.5% year-on-year, climbing from ₦1.6 trillion in 2023 to ₦3.4 trillion in 2024. Interest income, a major driver of this growth, represented 70% of gross revenue at ₦2.4 trillion, while non-interest income contributed ₦1.0 trillion, marking an 87.2% increase due to higher transaction volumes on digital channels and other alternative platforms. Despite inflationary pressures, the cost-to-income ratio remained stable at 60.8%, while profit before tax saw an 89.6% rise to ₦558.2 billion, and profit after tax rose 82.8% to ₦457.7 billion. This robust performance translated to an annualised return on equity of 22.2%, with earnings per share up to ₦12.40.
 
Access Holdings reported significant gains in Q3 2024, driven by strong performance across its banking and non-banking subsidiaries, including Access ARM Pensions, Hydrogen Payments, and Access Insurance Brokers. The Group’s total assets surged to ₦41.1 trillion, up by 54.0% year-to-date, while shareholders’ equity grew by 51.0% to ₦3.3 trillion. Customer deposits saw an impressive rise of 45.4%, increasing from ₦15.3 trillion in December 2023 to ₦22.3 trillion by Q3 2024, while gross loans and advances grew 56.2%, reaching ₦13.9 trillion.
 
Access Bank continued its strong performance, with both interest and non-interest income contributing significantly to gross earnings. Subsidiaries in the UK and across Africa performed particularly well, delivering 54.8% of the Banking Group’s profit before tax, an increase of 185.8% year-on-year. The Group remains committed to expanding its footprint by offering tailored banking solutions in each region, enhancing customer experience, and advancing cross-border banking capabilities.
 
The non-banking subsidiaries of Access Holdings also delivered consistent growth. Access ARM Pensions, following a merger with ARM Pensions, now oversees ₦3.1 trillion in assets under management. Hydrogen Payments processed ₦27.5 trillion in transactions, growing its operating profit by 516% year-on-year to ₦5.7 billion. Access Insurance Brokers, still in its first year of operations, posted a gross written premium of ₦8.3 billion and a profit before tax of ₦641 million. New entrant, Oxygen X Finance, the group’s digital lending subsidiary, reported ₦2.1 billion in operating income and a profit before tax of ₦412 million.
 
Looking ahead, Access Holdings remains focused on enhancing profitability through diversified revenue streams across all markets. The group is deeply committed to advancing sustainability, embedding environmental, social, and governance principles into its operations to foster positive community impact. Through ongoing investments in employee development, Access Holdings is building a culture of innovation and excellence, further positioning the group as a driver of long-term value for its shareholders.
 
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