Category Nigeria News

For the 2025 Imo Economic Summit, Vice President Kashim Shettima has arrived at the Imo State Capital’s Sam Mbakwe Airport.

Read more: VP Kashim Shettima’s article, Digital Innovation Is Nigeria’s Fastest Way to Prosperity.

At exactly 10:43 a.m., the Vice President’s plane touched down at Sam Mbakwe International Airport.

The governor of Imo State, Hope Uzodimma, some ministers, lawmakers, the Etsu Nupe, Yahaya Abubakar, and other top state government officials, among others, were present for him.

Prior to The Experience 2025, the Lagos Metropolitan Area Transportation Authority (LAMATA) announced that the Lagos Rail Mass Transit Blue Line would now have extended train services.

Every December, Lagos, Nigeria hosts an annual all-night gospel music concert known as The Experience Lagos.

The event, which was founded in 2006 by Pastor Paul Adefarasin of House on the Rock Church, has grown into the largest gospel concert in Africa, drawing both local and international gospel artists.

The LRMT Blue Line will continue to operate after its regular closing on Friday, according to the agency.

According to a statement signed by its Head of Corporate Communication, Kolawole Ojelabi, the extension was approved to manage the anticipated rise in commuter traffic both before and after the event.

The LRMT Blue Line will operate longer hours on Friday, December 5, 2025, until 11:43 p.m. after the station’s scheduled 9 p.m. closing time.

The statement further stated that work would start much earlier on Saturday to accommodate early-morning travel and post-event return trips.

“Operation will begin at 4:00 am on Saturday, December 6, 2025, and will continue until 9:00 pm,” it stated.

LAMATA also confirmed that commuters can use the LRMT Red Line on Friday and follow its usual route.

The LRMT Red Line will also be operational on Friday, December 5, with the exception of Saturdays, when it runs on Saturdays, keeping its exact schedule of (6:00 am to 10:00 am) and PM Peak (5:20 pm to 8:40 pm), according to the statement.

CLICK HERE for a LATEST VERSION OF A WRONG AWARD TO DATESTORS ABOUT ILLEGAL ESTATES.

The organization made it clear that both lines’ operations would resume on Sunday, December 7, 2025.

LAMATA emphasized to locals that the Red and Blue Line lines’ services are still accessible.

“Communicators are advised to plan, follow station instructions, and cooperate with officials to ensure a smooth and safe travel experience throughout the event weekend,” it said.

Following a coordinated operation by the Rivers State Police Command, sister security organizations, and critical support from local community leaders, five abducted students from the Rivers State University (RSU) have been saved from harm.

On December 3 at around 1 a.m., Prince London, Azubuike Kelechukwu, Elizabeth Aniete, Onyebuchi Precious, and London Sampson were abducted from their remote homes in Rumuche/Rumuohia, Emohua Local Government Area.

The suspects had taken the victims, and the Rivers State Police Command claimed that the rescue operation had taken place in Rumuodogo 2 nearby.

According to preliminary investigations, the abduction was carried out by alleged cultists, a finding that community leaders concur with.

Read more about the five students who were kidnapped as gunmen attacked the Rivers community.

The Youth President of Rumuohia, the country’s youth leader, disclosed that Rumuohia’s youth leaders, Rumuodogo 1 and 2, were allegedly working alongside a Rumuohia member who had already been turned over to the police, and that information that had been gathered within hours of the incident pointed to the involvement of youths from their neighboring communities.

He claimed that the community issued a 3 p.m. release deadline for the abducted students, which many residents claim helped expedite the rescue efforts.

According to security analysts, the attack’s pattern is in line with regionally known cult group dynamics. Insider collaboration is a crucial investigative tool because ritual organizations frequently cross borders in territorial and supremacy battles.

There is a dominant cult in every field, according to a community source. Without their knowledge, there is nothing significant going on. A battle for control is typically triggered by an opposing group trying anything.

The suspects fled before officers arrived at the hideout, but the suspects left behind important leads, including the collaborator who is already imprisoned, which investigators claim will aid in the search of the rest of the gang.

The swift synergy between security forces and the community, according to CP Olugbenga Adepoju, the police commissioner, cautioning the fugitive suspects that the command “will not rest until all those responsible are arrested and made to face the full wrath of the law.”
He urged people to keep their calm and to continue providing reliable information to authorities.

As police make more and more arrests of the abductors, the rescued students have since been taken to a hospital for medical examination.

Senator Kabiru Marafa has backed President Donald Trump’s threat of military action in Nigeria. &nbsp,

Marafa, who served in the Senate for Zamfara Central from 2011 to 2011, made a statement on Wednesday.

On Wednesday’s episode of Channels Television’s Politics Today, the former lawmaker remarked, “I strongly support Donald Trump’s decision to issue that threat.”

I disagree with many Nigerians because the majority of them view it from the perspective of their national sovereignty and patriotism, which I support. But what significance does “sovereignty have for a dead man”?

Read more about this story: [Insecurity] US Lawmakers Charge The Nigerian Government With Putting A Stop to Killings

Trump’s comments, in his opinion, imposed pressure on the country’s leadership to address the country’s unrest.

Watch the following interview:

Wale Edun, the minister of finance and Coordinating Minister of the Economy, will be appearing before the Senate on Tuesday of next week through its adhoc committee to investigate the failure of the Safe School Initiative.

Following the adoption of its work plan at today’s maiden meeting, the ad-hoc committee, led by Senator Orji Uzor Kalu (Abia North), summoned the Minister of Finance for an appearance.

The CDS, the Commandant General of the Nigeria Security and Civil Defense, Dr. Mohammed Abubakar Audi, and representatives of school owners are other important parties involved in the collapsed initiatives that are scheduled for summoning.

READ ALSO: Senate Selects Former CDS Musa as Nominee for Defense Minister

Chairman of the Ad-hoc Committee, who was briefed journalists at the inaugural session on Wednesday, vowed that the Senate would resolve all issues relating to the initiative’s implementation and establish full accountability.

He cited the abduction of over 1, 680 schoolchildren and the attack of 180 educational facilities as unacceptable for a country that is committed to child safety and educational development.

Kalu argued that it is unacceptable that our schools continue to be kidnapped and targeted by terrorists.

We will keep track of every naira and dollar spent on the Safe School Initiative, some of which were funded by the federal government’s most recent N144 billion, aside from the $30 million raised by the initiative between 2014 and 2021.

Nigerians should be aware that our schools remain unsafe despite significant investment and international support. Federal ministries, state governments, security organizations, and civil society partners will be the focus of the committee’s comprehensive financial and operational audit.

He argued that the committee owes Nigerian parents the duty to ensure that their children can pursue education without fear, just as he emphasized that the investigation does not target any one person or institution but rather seeks to improve accountability and transparency.

According to him, areas of investigation include: (i) Using the funds that have been allocated since 2014; (ii) Using and utilizing security personnel; (iii) Using early warning and emergency response systems; (iv) Investing in Infrastructure in Prey Areas; and (v) Working with international donors and private sector contributors.

About N3 was repaid by the government-owned asset management corporation of Nigeria (AMCON), which was established in 2010 to stabilize and resurrect the country’s financial system. Since its founding, the Central Bank of Nigeria (CBN) has received $6 trillion.

At a media conference in Lagos, Gbenga Alade, the corporation’s managing director and CEO, made the disclosure.

Despite having paid N1, Alade claimed that. It has been able to repay about N3 with $7 trillion to buy bank toxic assets. owing about N3 trillion in debt to date, with $6 trillion.

He claimed that AMCON had done so by reorganizing the banks by removing toxic assets from their books and introducing fresh funds in accordance with corporate restructuring principles.

According to him, banks depositors keep their deposits because they believe in the financial system, which guarantees banks’ ability to fulfill their obligations. AMCON then manages the Eligible Bank Assets (EBAs) that have already been acquired in order to put them at risk.

The CEO noted that the law establishing AMCON upsets and reverses the hierarchy of securities and contractual rights by giving AMCON priority over bank debtors in disputes involving collateral and contracts.

Also read: A 60bn lawsuit is brought against former AMCON boss Ahmed Kuru in court.

Additionally, Blade added that, as part of our recovery plan, we have engaged some foreign asset tracers to help us discover the locations where some of these obligors have hid their assets from all over the world. ”

He described the corporation’s financial performance since he became the helmsman, stating that it had received 156 total revenues. total operating costs of N29 billion and 25 billion. Despite claiming a 19% overall operating revenue/revenue ratio, the company generated $ 04 billion.

According to Alade, N215 will be the projected total revenue for 2025. N29 billion will be expected to be the total operating expenses, compared to N15 billion. The expected total operating/revenue ratio is around 13 and the expected total is 06 billion. 5% .

It is crucial to point out that the business has performed exceptionally well, especially in comparison to other well-known government-owned asset management companies worldwide.

Despite the unique difficulties that come with recovering debt in Nigeria, AMCON outperformed other asset management corporations around the world by recording over 87% in recoveries.

The Malaysian Danaharta, which is regarded as one of the best-performing asset management companies, only managed to achieve 58%. Despite its stricter regulations, the Chinese Asset Management Corporation only managed to achieve 33%. With about 100%, only the Korean Asset Management Corporation (KAMCO) in South Korea has recovered more than AMCON. They pursued the obligors with brute force, which contributed to this.

Despite KAMCO’s recovery records, the organization is still in operation with only minor changes to its scope. China Asset Management Company, Federal Deposit Insurance Corporation (FDIC) USA, and KFW Germany are some of the well-known asset management corporations that have changed into perpetual institutions among the various governments. So AMCON has done well, ladies, and we won’t relinquish until all outstanding debts are paid off, according to Alade, without coming off as immodest.

He claimed that the corporation’s current EXCO has engaged seasoned consultants to conduct a thorough audit of all AMCON cases heard before us at the Federal High Court (FHC), which is our Supreme Court of First Instance, Court of Appeal, and Supreme Court.

He claimed that AMCON is deeply affected by the leadership of the judiciary at the three levels of courts and that it is fully aware of the difficulties that the obligors face.

In consequence, all courts have approved AMCON’s debt recovery New Practice Direction. In an effort to speed up the adjudication of all AMCON cases that are pending in various courts, the FHC has also established the Insolvency Units.

The CEO also noted that President Bola Ahmed Tinubu-GCFR, the judiciary, the Central Bank of Nigeria, the Federal Ministry of Finance, the Attorney General of the Federation, the minister of justice, AMCON’s board of directors, the police, the ICPC, the media, and a number of other sister government organizations have all vehemently supported the organization’s recovery efforts.

He declared that the company would carry out its recovery mission with complete adherence to the rule of law, love for the country, and fear of God. Let me also warn you that the majority of the debtors would want to slander the public as we are closing the noose through the courts on the obligors and using our strategies.

“Please take note that the majority of them took out the loans without even trying to pay it back. So I ask that regardless of the skewed narration they offer in the newsrooms, kindly take it all seriously and approach us because we have reliable records, as evidenced by the landmark cases we have won against many of the negligibles.