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More criminal activities of Seun Egbegbe uncovered + How he commited $3,000 fraud in Ibadan

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Seun-Egbegbe-Playground

 

 

The dealer, Semiu and Egbegbe had met briefly on  December 9, 2015, at a MultiChoice outlet opened by the latter two days earlier at Uncle Joe Bus Stop at Mokola area, Ibadan.

About 9 am on that day; the dealer told SaharaReporters, a man he had never met walked into the outlet requesting to buy two GOtv decoders.

The prospective customer, added the dealer, said he was expecting a friend of his to bring money with which he would pay for the decoders.

Shortly after his arrival, another man arrived wearing jellabiya, the long robe favored by Muslim men, and gave the prospective customer some money.

The dealer, who was working when the jellabiya-wearing man handed over the cash, said he did not know the exact sum given to the first man. After handing over the cash, the man in jellabiya left. Curiously, too, the prospective customer, who would later turn out to be Egbegbe, the dealer explained, stepped out of the shop and waited outside, where he was shielded from view by a glass door.

Wondering what was happening to the envisaged transaction, the dealer stepped out to check on Egbegbe.

He found him standing outside and sought to know what was going on.  Egbegbe, who kept impersonating a prospective customer, then pointed to a man waiting for downstairs, signaling that he was the one that would provide information required for the activation of the decoders. Though he was speaking, said the dealer, his voice was drowned out by music from the loud speakers hired to create awareness for the outlet.

That was the beginning of trouble. When the jellabiya-wearing man got upstairs to meet the dealer, he announced to him that Egbegbe had taken $3,000 from him.

He could not make any connection between what he heard and the transaction he was supposed to carry out.

“I considered it a joke initially, but later realized that the second guy was a Hausa man, who had innocently transacted business with the pretended customer on the assumption that he owned the MultiChoice outlet,” the dealer said.

The Hausa man, recalled the dealer, told him that the pretended customer had phoned him from a Fidelity Bank branch opposite the MultiChoice outlet, claiming to own that place and requesting to change naira to dollars.

Apparently, Egbegbe had failed to give the forex trader the naira equivalent of the money he took from him, with currency trader lured into a false sense of security that Egbegbe owned the dealership and could always find him there.

When the currency trader realized that the man he transacted business with was not the owner, he raised the alarm.

“Before I knew what was happening, I was surrounded by over 20 Hausa men and dragged to Sabo, the hub of forex trading in Ibadan,” the dealer told SaharaReporters.

From there, things would get nastier. At Sabo, the currency traders convinced that the dealer knew the man who took $3,000, descended on him.

“I was beaten for about 45 minutes and was about to be killed before a policeman from State Investigation Bureau (SIB), named Samson, intervened and ordered us to move to Oyo State Police Command Headquarters at Eleyele,” he recalled.

While relieved to have escaped jungle justice, there was to be no further let-up to his ordeal.

At the SIB, the dealer and other currency traders were told to wait in a room, while the man from whom the $3,000 was taken, Samson and the SIB head went for a private discussion. After their discussion, and without any interrogation, he claimed, they were transferred to AKS for another round of beating.

At AKS, he added, they kept asking him to refund the $3,000.

“I kept telling them that I knew nothing about the money and that they should not kill me because of $3,000 (N750,000). After about 30 minutes of beating, I was handcuffed and taken to my office and to my house. My wife and four-year-old daughter saw me in handcuffs. They searched my house and found nothing,” he said.

Before going to the dealer’s house, they had arrested the Chief Security Officer (CSO) of the Fidelity Bank branch opposite his office, where the perpetrator of the fraud claimed to have phoned the currency trader from. The CSO was arrested because the police found evidence that he had phoned.

Samson, the police officer, explained the dealer, had told them at SIB that CSO called him to find out if the operation was successful and that the CSO said it was.

From his house, they moved to that of his staff identified as Alfa. This is in the Agbowo area of Ibadan. They equally found nothing incriminating in the house.

The dealer said he would also later discover that Samson, the policeman, told the SIB that the found firearms in his house. He was the detained for five days.

While in detention, he kept requesting that he be charged to court because he suspected that there was a plot to make him face criminal charges and have him remanded in prison. On account of the suspected plot, many people, including one of his lawyers, advised the dealer to offer to pay N500,000 of the N750,000. The man from whom the money was taken agreed when it was suggested to him. He was told to put it in writing.

“I knew nothing about the money and there was also no way I could raise the amount suggested, having just started business. I was given till 15 January 2016 to pay part of the money,” he narrated.

While waiting outside the Anti-Robbery Squad premises on the deadline day of  January 15, 2016 the dealer said he saw actress Toyin Aimakhu with a man that was being wildly cheered by policemen.

He took a closer look and discovered that the man being cheered by the policemen was the person that came to his office requesting to buy GOtv decoders and eventually took $3,000 from the currency trader.

On the said day the victim saw him at Anti-robbery Squad where Seun Egbegbe and Toyin Aimaku came to release  Aimakhu’s Range Rover that he Seun gave her which d police impounded from her driver earlier that day and fortunately Semiu saw and recognized  Seun Egbegbe as someone who collected $3000 from the BDC vendor. lawyers.

“I was confused. I then told one of the Anti-Robbery Squad officers that the man in front of them was the one who collected the $3,000.

The officer asked if I knew the person I was pointing at. I said I was sure he was the one. The officer said he is Seun Egbegbe, a socialite,” said the dealer.

Stung, the dealer I ran to the Investigative Police Officer (IPO) handling his matter to tell him of his discovery. The IPO, the dealer said, asked him repeatedly if he was sure of the man’s identity.

“I told him I was sure he was the one who came to my shop,” stated the dealer.

Drama then ensued when the IPO wanted to arrest Egbegbe. He was arrested after initial hesitation by police and confessed that he was the one that did it.

But his actress girlfriend, Toyin Aimakhu told the police that she was ready to offer them (the police) any amount to bury the case because she doesn’t want a scandal, the victim wanted to press charges against Seun Egbegbe but the police colluded with Aimakhu and threatened Semiu and his co-victim with harm.

Some officers were opposed to his arrest, but the IPO insisted on arresting him, and he was arrested.

He confessed to the crime and promised to refund the Hausa, currency trader. The actress, added the dealer, slumped in shock.

“I was invited back to AKS on January 18, 2016,  for apology and compensation, but nothing not was done. The CSO and another staff of the Fidelity Bank branch lost their job. I incurred huge financial losses and almost lost my sight,” the dealer recalled.

 

 

 

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Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing

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Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing

By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com

“Shift or Structural Demand? A Declaration of Civic Duty in a Nation at a Fiscal Crossroads.”

In the unfolding narrative of national development and economic reform, few instruments are as defining as tax compliance. For Nigeria, a nation perpetually grappling with revenue shortfalls, structural dependency on a single export commodity, and entrenched informal economic behaviour, the Federal Government’s recent clarification on tax return deadlines is not mere bureaucratic noise. It is a deliberate and inescapable declaration: the social contract between citizen and state must be honoured through transparent, lawful and timely tax reporting.

At its core, the government’s pronouncement is stark in its simplicity and radical in its implications. Federal authorities, speaking through the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, have made it unequivocally clear that every Nigerian, whether employer or individual taxpayer, must file annual tax returns under the law. This encompasses self-assessment filings by individuals that too many assumed ended once employers deducted pay-as-you-earn taxes from their salaries.

This is not an optional civic suggestion, it is mandatory, backed by statute, and tied to a broader vision of national fiscal responsibility. Citizens can no longer hide behind ignorance, apathy, or false assumptions. “Many people assume that if their employer deducts tax from their salaries, their obligations end there. That is wrong,” Oyedele warned, emphasizing that the obligation to file remains with the individual under both existing and newly reformed tax laws.

The Deadlines and the Reality They Reveal.
Across the federation, state and federal revenue authorities have reaffirmed statutory deadlines in pursuit of compliance. The Lagos State Internal Revenue Service, for instance, moved to extend its filing date for employer returns by a narrow window, reflecting the reality that compliance often lags behind legal timelines. The extension was intended not as leniency, but as a pragmatic effort to allow accurate and complete submissions, underscoring that true compliance rises above mere mechanical ticking of a box.

At the federal level, Oyedele’s intervention was even more fundamental. He reminded Nigerians that annual tax returns for the preceding year must be filed in good faith, with integrity and in respect of the law. This applies regardless of income level including low-income earners who have historically believed that they are outside the tax net. “All of us must file our returns, including those earning low income,” he stated.

Herein lies one of the most challenging truths of contemporary Nigerian governance: widespread tax non-compliance is not just a technical breach of law, it is a deep cultural and structural issue that reflects decades of mistrust between citizens and the state.

The Root of the Problem: Non-Compliance as a Symptom.
Nigeria’s tax culture has long been under scrutiny. Public discourse and economic analysis consistently show that a significant majority of eligible taxpayers do not file annual returns. Oyedele highlighted that even in states widely regarded as tax administration leaders, compliance remains strikingly low, often below five percent.

This widespread non-compliance stems from multiple sources:

A long history of weak tax administration systems, where enforcement was inconsistent and penalties were rarely applied.

A perception that public services do not reflect the taxes collected, eroding the citizenry’s belief in reciprocity.

An informal economy where income often goes unrecorded, making filing seem irrelevant or impossible to many.

Lack of awareness, with many Nigerians genuinely believing that tax liability ends with employer deductions.

The government’s renewed push for compliance directly challenges these perceptions. It signals a shift from voluntary or lax compliance to structured accountability, a stance that aligns with best practices in modern public finance.

Why This Matters: Beyond Deadlines.
At its most profound level, the insistence on tax return filings is about nation-building and shared responsibility.

Scholars of public finance universally agree that a robust tax system is the backbone of sustainable development. As the eminent economist Dr. Joseph E. Stiglitz has observed, “A society that cannot mobilize its own resources through fair taxation undermines both its government’s legitimacy and its capacity to provide for its people.” Filing tax returns is not a mere administrative task, it is a declaration of participation in the collective project of national advancement.

In Nigeria’s context, this declaration carries weight. With the enactment of comprehensive tax reforms in recent years (including unified frameworks for tax administration and enforcement) authorities now possess broader statutory tools to ensure compliance and accountability. These measures, which include electronic filing platforms and stronger enforcement powers, have been framed as fair and equitable, targeting efficiency rather than arbitrariness.

Yet the success of these reforms depends heavily on citizens embracing their civic duties with sincerity. And this depends on mutual trust, the belief that paying taxes yields tangible benefits in infrastructure, education, healthcare, security and social services.

Voices From Experts: Fiscal Responsibility as a Public Ethic.
Tax law experts and economists, reflecting on the compliance push, have underscored a universal theme: taxation without transparency is inequity, but taxation with accountability is empowerment. When managed with fairness, a functional tax system can reduce dependency on volatile revenue sources, stabilise national budgets, and support long-term investment in human capital.

Professor Aisha Bello, a respected authority in fiscal policy, notes that “Tax compliance is not a burden; it is the foundation upon which social contracts are built. A citizen who honours tax obligations affirms the legitimacy of governance and demands better performance in return.”

Similarly, a leading tax scholar, Dr. Emeka Okon, argues that “The era when Nigerians could evade broader tax responsibilities simply because automatic deductions occur at source must end. For a modern economy, every eligible citizen must be part of the formal tax fold not as victims, but as stakeholders.”

These authoritative voices point to an unassailable truth: filing tax returns is both a legal requirement and a moral responsibility, an expression of citizenship in its fullest sense.

Challenges on the Ground: Compliance and Capacity.
While the rhetoric of compliance is compelling, the reality on the ground demands nuanced understanding. Many taxpayers (especially in the informal sector) lack meaningful access to digital platforms and resources for filing returns. For others, the fear of bureaucratic complexity and perceived punitive enforcement deters participation.

The government, for its part, has responded by promoting online systems and pledging greater taxpayer support. Tax authorities are increasingly engaging stakeholders to demystify filing processes, explain requirements and offer assistance. This mix of enforcement and facilitation is essential. As one seasoned revenue specialist observed: “The state cannot compel compliance through force alone; it must earn it through education, simplicity and fairness.”

The Broader Implication: A New Social Compact.
Ultimately, Nigeria’s renewed emphasis on tax return filing transcends administrative deadlines. It is an unequivocal declaration that national development is a shared responsibility, that citizens and state must engage in a transparent, accountable, and reciprocal relationship.

Tax compliance, therefore, becomes far more than a legal act; it becomes a moral claim on the nation’s future.

When citizens file their returns honestly, they affirm their stake in the nation’s destiny. When the government collects taxes transparently and deploys them effectively, it strengthens not only public services but civic trust itself.

In this sense, the deadlines proclaimed by Nigeria’s fiscal authorities mark not an end but a beginning; the beginning of a civic epoch in which accountability replaces apathy, participation replaces indifference and national purpose triumphs over fragmentation.

The road ahead will not be easy. But in demanding compliance, Nigeria is demanding more than tax returns. It is demanding commitment and that, ultimately, is the foundation on which nations are built.

 

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BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

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BUA FOODS PLC RECORDS 101% PROFIT GROWTH IN H1 2025, CONSOLIDATES LEADERSHIP IN NIGERIA’S FOOD SECTOR …Revenue Rises to ₦912.5 Billion; PBT Hits ₦276.1 Billion

BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

By femi Oyewale

BUA Foods Plc has delivered one of the most impressive financial performances in Nigeria’s fast-moving consumer goods (FMCG) sector, recording a 91 per cent increase in Profit After Tax (PAT) for the 2025 financial year.
According to the company’s unaudited financial results for the year ended December 31, 2025, Profit After Tax rose sharply to ₦508 billion, compared with ₦266 billion recorded in 2024, underscoring strong operational efficiency, improved cost management, and resilience despite a challenging macroeconomic environment.
The near-doubling of profit reflects BUA Foods’ ability to navigate rising input costs, foreign exchange volatility, and inflationary pressures that weighed heavily on manufacturers throughout the year. Analysts note that the performance places the company among the strongest earnings growers on the Nigerian Exchange in 2025.
The company’s Q4 2025 performance further highlights this momentum. Group turnover stood at ₦383.4 billion, while gross profit came in at ₦151.5 billion, demonstrating sustained demand across its core product lines including sugar, flour, pasta, and rice.
Despite a year marked by higher operating costs across the industry, BUA Foods maintained disciplined spending. Administrative and selling expenses were kept under control relative to revenue, helping to protect margins.
Operating profit for Q4 2025 stood at ₦126.9 billion, reinforcing the company’s strong core earnings capacity. Although finance costs and foreign exchange losses remained a factor, reflecting the broader economic realities, BUA Foods still closed the period with a Net Profit Before Tax of ₦102.3 billion for the quarter.
Earnings Per Share Rise Sharply
Shareholders were among the biggest beneficiaries of the strong performance. Earnings Per Share (EPS) rose significantly, reflecting the substantial growth in net income and strengthening the company’s investment appeal.
Market watchers say the improved earnings profile could support sustained investor confidence, especially as the company continues to consolidate its leadership position in Nigeria’s food manufacturing space.
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

By femi Oyewale
Industry Leadership Amid Economic Headwinds
BUA Foods’ 2025 results stand out against a backdrop of currency depreciation, energy cost spikes, and logistics challenges that constrained many manufacturers. The company’s scale, backward integration strategy, and local sourcing advantages are widely seen as key contributors to its resilience.
Outlook
With a 91% year-on-year growth in PAT, BUA Foods enters 2026 on a strong footing. Analysts expect the company to remain a major driver of growth in the consumer goods sector, provided macroeconomic stability improves and cost pressures ease.
For now, the 2025 numbers send a clear signal: BUA Foods is not only growing—it is accelerating.
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Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

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Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.

The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.

 

Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.

Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.

The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.

For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.

The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.

Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.

As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.

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