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Business

‘Why we planned to Bomb Third Mainland bridge’ – Militant group reveals

Published

7 years ago

December 29, 2016

Sahara Weekly

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One of the leaders of a notorious militant group operating in Ikorodu and Arepo areas of Lagos and Ogun states, Abiodun Amos, said yesterday, that his group planned to bomb the Third Mainland Bridge in Lagos because the Federal Government failed to consider its members for amnesty. The group had planned to bomb the bridge end of last month before Amos’ arrest by the Inspector-General of Police Special Intelligence Response Team, led by Abba Kyari, an Assistant Commissioner of Police, frustrated its efforts. “We went into bank robberies and kidnapping because we wanted to get government’s attention and all we wanted was for them to grant us amnesty and also offer us pipeline protection contract. ‘’We have made several appeals but government is not listening to us. ‘’General” Ossy (leader of the gang) said if we don’t blow up the Third Mainland Bridge, government will not listen to us. We had concluded plans to carry out the attack by November ending. ‘’I am the group’s explosives expert and before I was arrested we were going into the creeks to conclude plans on how to carry out the attack.” The suspect, also popularly known as Senti, said his group was hitherto involved in pipeline vandalism, noting that it resorted to kidnapping when it became difficult for its members to continue with the illegal business due to the presence of the military and policemen.

The suspect is a 43-year-old native of Arogbo, in Ese-Odo Local Government Area of Ondo State. He was arrested by operatives of the Inspector General of Police Special Intelligence Response Team, IRT, at a river bank in Majidun area of Ikorodu, Lagos, on Monday. Two AK-47 rifles hidden inside a bag were found with the 43-year-old suspect as Vanguard reliably gathered that additional two cartons of explosives, with the words Gelatine Dynamite inscribed on them, and detonators, were recovered from the group’s operational saloon car. Amos’ arrest, it was gathered, followed intelligence generated by office of the National Security Adviser to the President, NSA, on November 2, 2016, that the group had concluded plans to blow up the Third Mainland Bridge. Vanguard gathered that the information was passed on to the Inspector-General of Police, Mr Ibrahim Idris, who subsequently directed his IRT to commence investigation into the matter. During investigation by the team, it was revealed that the militants had acquired a large quantity of dynamite and several other explosives with which to carry out the dastardly act.

Recall that the group in October 2016 carried out secret illegal operations like pipeline vandalism, kidnapping and bank robberies and had demanded for amnesty, threatening to disrupt economic activities within Lagos and Ogun states if the Federal Government didn’t grant their request. Suspected leader of the militant group, General Ossy (real names not known), had in recent times, allegedly coordinated many bank robberies and several high-profile kidnappings, including the kidnap of three school girls at Babington Macaulay Junior Seminary School in Ikorodu; kidnap of four landlords at Isheri North Area of Lagos; abduction of Oniba of Ibaland, Oba Goriola Oseni, among several others within Lagos and Ogun state s. ‘General’ Ossy had boasted in an interview with Vanguard that his group has over 21 ‘generals’ commanding 7,800 battle-ready boys, adding that the group is rich enough to fight the Federal Government, having acquired thousands of arms and ammunition similar to that of the military. He said the arms would be deployed to disrupt economic activities within Lagos and Ogun states, should the Federal Government fail to dialogue with the group and grant its wish. Confirming the development, Force Public Relations Officer, Don Awunah, a deputy Commissioner of Police, DCP, said: “Yes, an individual was arrested. On sighting the policemen, the second suspect jumped out of his car and escaped into the bush, abandoning the operational vehicle. ‘’On searching the vehicle, two cartons of Gelatine dynamite explosives and hundreds of detonators were recovered in the boot of the car. Efforts to arrest the remaining gang members are in progress.” It’s pure insanity — Afenifere Reacting to the development, Pan-Yoruba socio-political organisation, Afenifere, described the move as insane. Its National Publicity Secretary, Yinka Odumakin, said: “It is insane for anybody to hatch such a satanic plot. To what end and in reaction to what? ‘’It is good they have been arrested .They should be properly investigated for us to know what their motive was and their likely backers.” Lagos PDP reacts In its reaction, the Peoples Democratic Party, PDP, in Lagos State, called on the state government to up its security to reduce crime rate. Its publicity Secretary, Mr Gani Taofik, said: “Such a plan is evil and can’t be defended. It must be further verified to remove any doubt and if a proper fact check confirms it, those arrested must be made to face the full weight of the law. ‘’This is to now put the Lagos State government on alert to up its security.

The APC government must address the economic and social injustice to reduce these angry reactions which ordinary citizens now suffer. Taking over Sambisa may now be a fluke as the Boko Haram may strategically leave there with no loss, into the cities.

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Business

NNPC cautions motorists, others against panic buying

Published

11 hours ago

May 7, 2024

Sahara Weekly

NNPC cautions motorists, others against panic buying

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The Nigerian National Petroleum Corporation (NNPC) Limited has warned motorists and the public against panic buying of Premium Motor Spirit (PMS), commonly referred to as petrol.

In a statement signed by the Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, on Tuesday, he said the corporation emphasised that the supply and distribution of petrol across the nation have witnessed significant improvements.

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According to Soneye, NNPC officials have conducted thorough monitoring of filling stations in various states, including Lagos and the Federal Capital Territory (FCT), where the queues have notably decreased.

He reassured the public that this positive trend will continue to expand to other states in the coming days.

The statement reads, “The Company wishes to state that at the moment, it has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency.

The NNPC Ltd. is also collaborating with relevant downstream agencies, such as the Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives, to address hoarding and other unwholesome practices.”

The move, according to Soneye, underscores NNPC’s commitment to ensuring a steady supply of petrol across the country and mitigating any potential disruptions in the fuel distribution chain.

Earlier, NNPCL said it has addressed concerns that surround the current scarcity of Premium Motor Spirit.

It added that the scarcity in certain regions of the country stems from logistical challenges, which have since been resolved.

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Business

Integrated System and Devices Limited Achieves IMS Certification

Published

2 days ago

May 6, 2024

Sahara Weekly

Integrated System and Devices Limited Achieves IMS Certification

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Integrated System and Devices Limited (ISDL), a major provider of electronic security solutions, is delighted to announce the successful attainment of ISO 14001:2015 and ISO 45001:2018 certifications following a rigorous audit process conducted by Bureau Veritas Certification Holdings SAS-UK Branch.

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In 2021, ISDL bagged the Quality management systems ISO 9001:2015, and now in 2024, with unwavering dedication to customer satisfaction, the occupational Health and Safety system ISO 45001:2018 and the Environmental management system ISO 14001:2015 have been consolidated to form an Integrated Management System.

These certifications, covering ISDL’s headquarters and branches, signify the company’s unwavering commitment to upholding the highest standards of quality management across all facets of its operations. According to Engr. Oluseun Mabogunje, the Managing Director of ISDL, the scope of the certifications encompasses the design, procurement, supply, installation, integration, maintenance, and after-sales support of various electronic security and Extra Low Voltage (ELV) equipment.

Engr. Mabogunje expressed his elation at receiving the IMS certifications, emphasizing ISDL’s dedication to delivering exceptional quality and service to its clientele. He emphasized that this achievement underscores the company’s ongoing pursuit of continuous improvement and customer satisfaction.

ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 are internationally recognized standards for Quality, Occupational Health & Safety and Environmental management systems, emphasizing a process-based approach to meeting customer requirements and enhancing satisfaction, protecting the environment and also providing safe and healthy working conditions to prevent work-related injuries and illnesses among our employees, contractors and visitors. ISDL’s certification demonstrates its ability to consistently provide products and services that not only meet regulatory requirements but also exceed customer expectations.

Engr. Mabogunje extended profound gratitude to the workforce for their contribution to this achievement, attributing it to their team spirit and unwavering dedication to hard work, resilience and excellence. He urged the staff to continue offering top-notch services to their clients.

About Integrated System and Devices Limited (ISDL):
Integrated System & Devices Limited (ISDL), incorporated in 1988, is a leading provider of Electronic Low Voltage(ELV) and Security systems, that provides a total turnkey service for the design, supply, installation and continued effectiveness of security systems for medium and high-risk locations. ISDL has over 30 years’ history in the delivery of professional electronic security services in integration, maintenance and after sales support of various electronic security and related equipment. ISDL has her head Office in Lagos, and two branch offices in Abuja and Port Harcourt, Nigeria.

For more information about ISDL, please visit www.isdlnig.com

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Business

ZENITH BANK SHOWS CONTINUED MARKET LEADERSHIP WITH 189% GROWTH IN Q1 EARNINGS

Published

2 days ago

May 6, 2024

Sahara Weekly

ZENITH BANK SHOWS CONTINUED MARKET LEADERSHIP WITH 189% GROWTH IN Q1 EARNINGS

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Zenith Bank Plc has announced its unaudited results for the first quarter ended 31st March 2024, with an impressive triple-digit growth of 189% in Gross Earnings, from ₦270 billion reported in Q1 2023 to ₦781 billion in Q1 2024. This is despite the challenging operating environment and tightening monetary policy stance.

From the unaudited statement of account submitted to the Nigerian Exchange (NGX) on Friday, 3rd May 2024, this impressive growth in the topline also enhanced the bottom line, as profit before tax (PBT) rose to ₦320 billion in Q1 2024, representing an increase of 270% from the ₦87 billion reported in Q1 2023. Profit after tax (PAT) equally grew significantly by 291% from the ₦66 billion reported in Q1 2023 to ₦258 billion in the current period.

Interest and non-interest income contributed significantly to the growth in gross earnings. Interest income grew by 155% from the ₦192 billion reported in the quarter ended March 2023 to ₦489 billion in the period to 31 March 2024. The growth in interest income is due to the repricing of risk assets, owing to the increase in the central bank’s Monetary Policy Rate (MPR), which currently stands at 24.75%. The growth in net interest income is primarily due to the increase in fees and commissions as well as trading grains.

The Group reported an impairment charge of ₦56 billion for Q1 2024, up from ₦8 billion recorded in Q1 2023. This is attributable to significant growth in risk assets, primarily driven by the revaluation of its USD loans, which necessitated additional impairment on the bank’s foreign currency-denominated loans.

The cost of funds grew by 48% from 2.7% in Q1 2023 to 4% in Q1 2024 due to the high-interest rate environment, while interest expense increased by 157% from ₦71 billion reported in Q1 2023 to ₦182 billion in the period to March 2024. Notwithstanding the year-on-year (YoY) increase in interest expense, net interest margin (NIM) grew by 20% from 6.9% in the 3 months ended March 2023 to 8.3% in the current period ending 31 March 2024. Return on Average Equity (ROAE) and Return on Average Assets (ROAA) increased year-on-year (YoY) by 114% and 119%, respectively, due to improved profitability.

Gross loans, which are largely funded by customer deposits, grew by 30% from ₦7.1 trillion in December 2023 to ₦9.2 trillion in March 2024. Customer deposits also grew by 11% from ₦15.2 trillion in December 2023 to ₦16.8 trillion in March 2024, underpinning continued customer confidence in the Zenith brand. Total assets increased by 19% to ₦24 trillion within the same period.

The Group has consistently maintained all prudential ratios well above the minimum regulatory requirement. At the end of Q1 2024, Capital Adequacy Ratio (CAR) and Liquidity Ratio stood at 20% and 67%, respectively, demonstrating the Group’s ability to maintain a strong and liquid balance sheet.

The Group is making progress on the planned capital raise to support future growth and is very optimistic about meeting the new minimum capital requirements in line with the CBN’s recapitalisation directive. As the Group accelerates migration to its new technology architecture and also transitions into a holding company, it remains poised to maximise value for all stakeholders.

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