Former minister, Senator Bello Maitama Yusuf, has died aged 76.
Yusuf, a former Senator from 1999-2007, died in the early hours of Friday at his residence in Kano after a brief illness.
A family member, Alhaji Hussani Dalhatu, confirmed his death to newsmen.
He said the late Sardauna of Dutse’s funeral prayer would take place after Jumu’at prayer at the Emir of Kano’s palace.
Yusuf was born in Gwaram, Jigawa State, in 1947. He was Minister of Interior in 1981 and Minister of Commerce in 1982
Worried by the shocking inhuman treatment meted out on an 11-year-old boy (Friday Oshodi) by his parents, the Kogi State Government has vowed to prosecute all the suspects involved in burying the boy alive.
The state Commissioner for Women Affairs and Social Development, Hajia Fatima Kabir Buba, disclosed this in a chat with journalists yesterday.
Buba said the ministry is also making all the necessary arrangements to put the victim in an orphanage home.
According to the commissioner, information that got to the ministry indicated that the boy is being maltreated by his stepmother and brother, adding that the government will ensure that justice is served on all the perpetrators of the evil act.
She reiterated that the government under Governor Yahaya Bello remains committed in protecting the boy and girl-child, warning that any guardian carrying out ill-human treatment on their wards will face the full wrath of the law.
The commissioner said: “The victim, Friday Oshodi, is currently in our custody while the prime suspect, Goodness Oshodi, is in the police net. This is wickedness in the highest order. How will somebody bury his fellow human alive?
“The woman who ordered for the punishment of this young boy is currently at large. I am assuring the public that she will be arrested and made to face the full wrath of the law.”
It was reported that Goodness Oshodi allegedly buried his younger brother, Friday Oshodi, alive as punishment for stealing money.
The incident, it was gathered, occurred at Silo community in Apamisede, Zango Daji, Adavi Local Government Area of Kogi State
The deceased and two other persons were said to be working in the building on Wednesday evening when it collapsed on them.
A storey building under construction in Ikirun, the headquarters of Ifelodun Local Government Area of Osun State has collapsed, killing two persons.
The deceased and two other persons were said to be working in the building on Wednesday evening when it collapsed on them.
A resident of the area, who identified himself as Lateef revealed that the owner of the building was among the victims that died while on admission at a nearby hospital.
He narrated, “Some minutes to 7 pm on Wednesday, we heard a loud noise from a construction site in our area and immediately, people rushed to the scene.”
According to him, when neighbours got to the scene, they evacuated four people from the rubble, three females and a male.
He further disclosed that some good samaritans rushed the victims to a hospital nearby. However, on Thursday morning, two of the victims died as a result of serious injuries sustained from the incident.
The Public Relations Officer of the Osun State Command of the Nigeria Security and Civil Defence Corps(NSCDC), Kehinde Adeleke, confirmed the incident.
The NSCDC spokesperson added that though the building was still under construction, it was already used as a church.
She said, “A storey building being used as a church collapsed on Wednesday around 6.45 pm. The church building is in the Eweta community in Ikirun.
Adeleke stated, “Our officers that visited the scene said the affected building was still under construction and some workers were working inside it when it collapsed.
“Four people were trapped under the rubble. They were later evacuated and taken to a nearby hospital. Three women and a man were evacuated.”
She revealed that as of Thursday, two of the victims, including the woman who owned the building had died.
An oil tanker fully loaded with Premium Motor Spirit (PMS) otherwise known as petrol has crashed into a truck and damaged several vehicles and other public utilities worth millions of naira in Lagos, Nigeria’s commercial capital.
The incident occurred around House 229, Moshood Abiola Way, opposite Fashola Estate, Lagos State at about 7:30 pm on Thursday.
The National Emergency Management Agency (NEMA) Acting Coordinator, Lagos Territorial Office, Ibrahim Farinloye, who confirmed the incident, said the incident occurred at 7:30 pm at Palex bus stop by Iganmu Bridge, Ijora.
Farinloye listed vehicles damaged to include “two buses, two cars, a trailer loaded with sardines and detergent, one SUV, three flat body trailer, two twenty feet containers and two PMS tankers”.
Also, according to him, 12 high-tension electric poles were destroyed in the incident.
He said that all the occupants of the vehicles involved were able to flee before the product caught fire.
“There was no injury or casualty in the incident,” he said.
Farinloye said the carcasses of the burnt vehicles were being evacuated by the Lagos State Emergency Management Agency (LASEMA) officials.
Meanwhile, residents of Moshood Abiola Way through Sifax down to Ijora Underbridge to Apapa have been advised to suspend the use of naked fire for the time being.
In a public announcement titled “Urgent Public Safety Measure,” it was noted that in the process of evacuating the tankers, the product spilt into the drainages and moved towards communities.
“At the same time, no one is advised to use the streams and tributaries of any rivers for washing or bathing.
“The Fire Services are presently carrying blanketing to make the product ineffective. Utmost cautions are highly advised please,” the announcement read.
BBNaija All Stars winner, Ilebaye Odiniya has named her male housemate, Pere Egbi as the only person that hurt her the most in the house.
Leading Reporters recalls that the 22-year-old was bullied by other contestants who felt she was too young to relate with them.
Ilebaye and Pere had a father and daughter relationship in the house.
But the duo relationship turned sour after Biggie played a video of Pere ganging up with other housemates to make Ilebaye get a strike.
However, speaking in a trending interview on social media after the reality show, Ilebaye said she saw Pere as an elder brother but he betrayed her trust.
When asked, “who’s hurt you the most in the house?”
In response, Ilebaye said: “Pere. Because in the house, I called him my dad. We always played, and I actually cared for him. And I genuinely liked him. And he hurt me three times.”
The Standards Organisation of Nigeria (SON), yesterday, destroyed fake and substandard products worth several billions of naira in Lagos.
Products destroyed are engine oil, electrical cables and substandard tyres.
However, speaking during the destruction of the products seized by the organisation, the director general of SON, Mallam Farouk Salim, disclosed that the organisation was reviewing its Act to ensure importers of life threatening materials are jailed and not fined.
According to Salim, peddlers of these items are economic saboteurs and their activities sabotage our industry, people and cause loss for individuals who are innocently buying these products.
“This is one of the reasons why in the last National Assembly, we went to them to review our act to make sure that importers of life threatening materials are jailed not just fined. Thankfully they passed the law but unfortunately when the government was settling down, they did not get the opportunity for the president to sign the law.”
“So it is back in the national assembly for concurrence and hopefully very soon it will be with the president and I am sure the president will sign that amendment and those individuals selling threatening items will be jailed immediately they are caught,” he said.
The SON boss noted that some of the products to be destroyed today had gotten a court order to that effect.
On the seized tyres, he said that some of them are new tyres but unfortunately when the importer brought them in, other tyres were stuffed inside them.
“Due to this, these tyres lose their integrity and they become dangerous to society. The ones looking new are used tyres, they are pressed and polished to look new.
“The fakers of the motor oil lubricants intercepted in Calabar, use popular products so our Nigerian lubricant manufacturers that are successful have to deal with individuals trying to copy their product.
“Nobody copies a product that is not successful, the only problem is the copying is a bad one. The product you are seeing behind does not belong to that popular company, it was being copied and they have been taken to court, convicted and the court gave us the permission to confiscate the product and destroy them,” he said.
Salim pointed out that the Nigerian cable industry is successful and good and they key into associations to help identify these fake ones.
He noted that SON sometimes used their intelligence to fish these people out because their activities were affecting the economy of the country. Due to the policy on local content, we need to make sure that our indigenous companies are protected.
“These cables are supposed to be copper but they are either iron or copper coated, when used in a building, it gets hot and this leads to fire,” he said.
On the value of these products, the SON director general said that it ran into billions of naira, adding that they would keep seizing the products to force the perpetrators to stop.
“To your eyes these products don’t look nice but an unscrupulous person can take these, clean it up and send it to the market and make billions of naira from it.
“As regards this environment, the seized items are safe here as the place is twenty-four hours monitored by police, civil defence,” he said.
Nigeria’s pension fund landscape is witnessing a robust investment strategy as Pension Fund Administrators (PFAs) diligently allocate pension fund assets to Federal Government bonds and other eligible securities.
This approach adheres to the guiding principles of pension fund investments set forth by the Pension Reform Act 2014 (PRA 2014). As of August 31, 2023, Nigeria’s total pension assets under management amounted to an impressive N17.29 trillion
Pension fund assets in Nigeria are managed by licensed PFAs and safeguarded by Pension Fund Custodians (PFCs) in line with the provisions of the PRA 2014.
The primary guiding principle of investing pension funds is to ensure safety and maintenance of fair returns, with a prohibition on borrowing or lending pension fund assets.
The allowable instruments for investing pension funds, as outlined by the PRA 2014, include bonds, Sukuk, Treasury Bills, and other securities issued by the Federal Government of Nigeria and the Central Bank of Nigeria (CBN), or their respective agencies.
Additionally, Special Purpose Vehicles and Companies created or owned by the Federal Government of Nigeria are eligible, provided these securities are guaranteed by the CBN or the Federal Government.
Other allowable instruments for investment of pension funds include State Government Securities, Corporate Bonds, Money Market Instruments, Equities, Real Estate Investment Trusts (REITs), Infrastructure Bonds, Private Equity and Venture Capital as well as Open-End and Closed-End Funds.
At the end of August 2023, Nigeria’s pension assets increased by N530.79 billion (3.17%) from June 2023. Out of the net pension asset of N17.29 trillion, N11.47 trillion is invested in Federal Government Securities. This comprises N10.99 trillion in Federal Government Bonds, N211.77 billion in Federal Government Treasury Bills, N11.02 billion in Agency Bonds (Nigeria Mortgage Refinance Company), N154.76 billion in Sukuk Bonds, and N98.55 billion in Green Bonds.
The remaining investments are in money market instruments, corporate debt securities, quoted equities and other asset classes.
In line with global best practice, Federal Government Securities are considered safe and are usually a significant portion of pension fund investments. In Nigeria, Federal Government Bonds are considered the safest investment in the domestic debt market due to their backing by the ‘full faith and credit’ of the Federal Government. They are deemed risk-free, ensuring certainty in interest and principal payments.
Furthermore, the interest income earned from these bonds is tax exempt. Since the establishment of the Contributory Pension Scheme (CPS), the Federal Government has consistently met its obligation to repay pension funds invested in its bonds along with all accrued interests, without any defaults.
It is important to clarify that investments in Federal Government securities are not direct loans to the government; PFAs have the liberty to divest from these securities according to the Regulation on Investment of Pension Fund Assets. It is significant to note that investments in Federal Government bonds are not exclusive to PFAs as other institutional investors also invest in the bonds.
The PRA 2014 underscores that PFAs must manage pension funds in the best interest of retirement savings account holders. All investments in eligible securities and corporate entities are ‘ring-fenced,’ meaning they belong exclusively to the RSA holders and other pension beneficiaries and cannot be appropriated to any individual or related party of the PFA.
To ensure compliance with the PRA 2014, each PFA is required to establish an Investment Strategy Committee and a Risk Management Committee. These committees play a crucial role in formulating internal investment strategies and assessing acceptable risk profiles for investment portfolios, respectively. They are vital components of a comprehensive risk management system that ensures the safety and stability of pension fund investments.
It is noteworthy that pension funds invested in Federal Government bonds have aided in deepening the Nigeria’s financial sector and provided a platform for attaining strategic programmes of Government in the areas of infrastructure and real sector of the economy. It is evident from the vibrant pension industry in Nigeria today that the objectives of the pension reform have been significantly achieved in the areas of accumulation of long-term savings for Nigeria, as well as transparency and efficiency in funds management and benefits administration.
Generally, pension funds around the world invest in a diverse range of assets. In Chile, from where Nigeria adopted the CPS, Government bonds account for the highest investments using pension funds.
Similarly, Pension asset managers in many countries prioritise investments in defensive assets, including fixed interest securities such as bonds and treasury bills. These assets offer stable income at a lower risk level, which suit the moderate risk appetite of pension funds. Consistent with the investment culture in Nigeria’s pension landscape, countries such as Singapore, Korea and India have invested 90% of their pension funds in defensive assets, mostly Government bonds. Asset allocation decisions are made to achieve safety and fair returns.
In summary, the strategic investment of pension funds in Federal Government securities demonstrates a prudent approach by PFAs, aligning with the overarching goal of ensuring the safety and fair returns for the retirement savings account holders and other pension beneficiaries
The Jigawa State Police Command has said it arrested 14 suspected animal rustlers, drug dealers, and vandals.
Spokesman of the command DSP. Lawan Shiisu Adam confirmed the arrest in a statements gathered by Leading Reporters
He said the suspects were arrested in a different raid conducted in various local governments across the state.
He said the raids are part of the command’s efforts to flush out criminals who have been terrorizing the peaceful atmosphere of the state.
According to him, “On 01/10/2023 at about 1200hrs, the patrol team attached to Jahun Police station, while on patrol duty along Gujungu road, arrested four people with animals strongly suspected to be stolen.
“Also on 04/10/2023 at about 1700hrs, policemen attached to M/Qatari Police station conducted a raid at’ Yankanwa black spot Maigatari LGA, where four (4) suspects have been arrested with Fifty-three (53) tabs of Exol and Two (2) wraps of dry leaves suspected to be Indian hemp.”
He explained that other arrests include wiring cables and motorcycle thieves in the Dutse and Gumel local governments respectively.
DSP. Shiisu said the suspects confessed to the crimes and have been taken to court for prosecution.
He, therefore, urged the residents to support security agencies’ efforts by providing useful information that may lead to the arrest of criminals in the state.
Two female students of Kwara State Polytechnic, Joy Adama and Vandora Oreoluwa, have confessed to how they killed a prominent Kwara socialite, Adeniyi Ojo, when they were being paraded by the Police.
The suspects, while being paraded by the police confessed to murdering the deceased, who was the Managing Director of Waterview Hotels, Tanke, Ilorin, following failed plots to dispossess him of his funds.
The suspects said the deceased agreed to a BDSM form of sex, meaning bondage and discipline, dominance and Submission, sadism and masochism.
BDSM is a way of having sex in which one partner plays a dominant role, while the other is more submissive.
The suspect said, “The idea was that if he agrees to do BDSM with us, BDSM is the kind of sex where you tie the person’s hands and legs.
“So, while his hands and legs are tied, we can take cash or whatever valuables we can find and leave with it,” the suspects said.
“It now turned out that it started raining. So, instead of us going to the car, he now told us to go across to a building that was across the garden when we went to meet him.
“When we got to the room, we were on the bed with him. My friend tied his hands and legs.
“Based on the fact that we were in a room and not in a car because normally, we thought that if you want to have car sex with somebody, it cannot be in a public place that people can easily see or hear.
“But because it was in a room, we were already thinking about what we were going to do in case he starts shouting.”
The suspects said they had Rohypnol in their bags, which they attempted to put in the club owner’s mouth to put him to sleep, but he objected, stating he could perform without an external boost.
“The man did not have cash or any valuables with him that day, and we did not go to his car. So, there was nothing else we could do except if we were able to get money from his account,” they said.
“So, when my friend put the phone in front of his face, that was when he now freaked out and started shouting. I don’t know how he managed to loosen the rope that was used to tie his hands
“He then started to hit my friend and he started shouting. She took a pillow and placed it over his face to muffle his scream.
“Suddenly, he just went calm. I got down from the bed, and I told my friend that I think this man is pretending to be asleep so that when we let our guard down, he will stand up and try to hurt us.
“So, my friend went to the door, and she turned the key of the door pretending as if we were leaving, and she said she saw him open one of his eyes.
“We then went to him and were begging him to wake up, that we want to go. We will not do anything to him because we felt he was pretending, but he didn’t answer.
“We did not discover he was dead until when the police apprehended us.
“We already went home. It was while I was at home that the police came to apprehend us. I even thought that it was because we left with the man’s phone that was why they came to apprehend us.
“And we gave them the phone and the sim card only to find out later that at the time we thought he was pretending, he was already dead.”
Parading the suspects in Abuja, the spokesperson of the police force, Olumuyiwa Adejobi, said the suspects were apprehended through meticulous investigative work.
“Our officers were able to track and apprehend these suspects in Mowe Ibafo, Ogun State, he added.
Adejobi stated that a total of 54 suspects were arrested by the operatives of DFI-IRT and DFI-STS, some of whom were already facing prosecution in court for the various cases for which they were indicted.
He listed recovered weapons to include “92 firearms, 760 live ammunition, 14 exhibit vehicles, one forged document, 120 magazines, two IEDs, one suicide belt as well as cash sums of fake currencies totaling $970, marked as exhibits for the prosecution of the various cases.”
The police also aressred suspected kidnappers involved in a Swiss national’s abduction.
The suspects include Nneka Okpara, from Ikeduru LGA in Imo State; Emu Larry Chidiebere 34, a resident of Ika North East LGA in Delta State; Babatunde Femi 30, originally from Owode Obafemi LGA in Ogun State; Williams Banjo Omotayo 28, with roots in Epe LGA, Lagos State and Samuel Balogun 22, from Isale-Oja LGA in Oyo State.
Some motorists along the Mowe-Ibafo area have expressed concerns over the rising cases of corpses being dumped along the Lagos-Ibadan Expressway.
The motorists expressed fear of disease outbreak and the security threat that such recurring issue may pose to them.
On the Mountain Top University axis of the road observed that there was a corpse with burnt scars wrapped in a blue fabric and tied with rope dumped along the roadside.
It was also gathered that there was another corpse dumped opposite the university on Tuesday while there was a similar case recently.
A motorist who spoke with our correspondent on condition of anonymity for fear of being interrogated by the police urged security agents to beam their searchlight on the area.
“I think the corpse was dumped overnight but I cannot ascertain it because it was the odour oozing from that axis that attracted attention to it. It means that this place is not safe, especially at night,” he said.
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Another motorist who identified himself simply as Rasheed, noted that the decomposing corpse posed a threat to road users if not evacuated quickly.
“The odour coming from the dead body is not good at all and it can cause health issues if not urgently taken away,” he said.
When contacted, the Police Public Relations Officer, Ogun State Command, Omolola Odutola, advised residents to always report such incidents to the Divisional Police Officer in their area while noting that she had informed the nearest police point for necessary action.
“When they observe such a situation, they should report to the nearest police station. The police cannot act when they are not informed, so people should endeavour to always inform their DPO of such issues. The problem is that most times we may not be aware of a missing person unless their family comes to report such,” she said.
When contacted for possible action on evacuating the body, the Chairman, Obafemi-Owode Local Government Area, Lanre Ogunsola, asked our correspondent to send a message but he had yet to respond to the message as of the time of filing this report.
