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DEFENCE

CSCS Declares N6.93bn Profit, N5.85bn Dividend for 2020

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The Central Securities Clearing System Plc (CSCS) has announced a profit after tax of N6.93 billion for the financial year ended Dec. 31, 2020.

The company in a statement on Saturday said the profit after tax was 41.43 per cent higher when compared with N4.

90 billion posted in the corresponding period of 2019.

Also, profit before tax rose by 22.

35 per cent to N7.39 billion from N6.04 billion achieved in the corresponding period of 2019.

Its total income stood at N12.09 billion from N9.21 billion in 2019, indicating an increase of 31.3 per cent.

The group total income grew by 31.27 per cent to N12.09 billion against N9.

21 billion recorded in the comparative period of 2019.

The company’s investment income increased by 61.39 per cent to N7.44 billion in contrast with N4.61 billion in 2019 financial year.

The company’s operating expenses inched higher by 46.13 per cent to N4.72 billion from N3.23 billion in 2019, partly reflecting investments in technology and human capital.

The board also recommended a dividend of N5.85 billion, translating to N1.17, representing a growth of 36 per cent against 86k dividend per share paid in 2019.

Commenting on the group’s performance, Mr Oscar Onyema, the Chairman, Board of Directors of CSCS, said that the company defied the unprecedented challenges that characterised 2020 financial year.

“It is exciting to report these stellar results. Defying the unprecedented challenges that characterised 2020 financial year.

“CSCS emerged stronger, delivering outstanding growth in top and bottom-lines, and executing far-reaching initiatives that would sustainably strengthen the competitiveness and resilience of the business,” Onyema said.

He said that the board of directors and management were upbeat about the value accretive prospects of CSCS with a profit growth of over 41 per cent.

“We are enthusiastic that the progress made thus far in repositioning the business to efficiently play a more active and leading role in deepening the Nigerian capital market will be sustained.

“With continuous investments in new technologies, talent, and work environment, we are optimistic on the productivity of CSCS going forward,”he said.

Also, commenting on performance, Mr Haruna Jalo-Waziri, CSCS Chief Executive Officer, said that the result reinforced its commitment to delivering superior value to our shareholders, irrespective of the odds.

“These impressive results reflect our enhanced collaboration with different stakeholders and their unflinching support and loyalty to CSCS, as the core infrastructure for the Nigerian capital market.

“Hence, my colleagues and I are excited to dedicate this performance to our esteemed participants, regulator and the board of directors, whose support kept us stronger through the pandemic.

“We would continue to invest in our collective objective of deepening the capital market and broader financial system, even as we seek new and efficient ways of enhancing our partnerships for mutual prosperity.

“Having laid a solid foundation over the past three years, we are more than ever optimistic on the prospect of our business, especially as we diversify the business for enhanced resilience against macro and market volatilities.

“We will sustain our disciplined cost efficiency culture, in our commitment to delivering sustainable value to shareholders over the long term.

“We are excited at the 39 per cent cost-to-income ratio, despite the impact of exchange rate volatilities and rising headline inflation on our cost base,” Jalo-Waziri said. (NAN)

CRIME

Police Arrest 53 Suspects over Benue, Plateau Killings – IGP

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By David Torough, Abuja

Barely one weekend after President Bola Tinubu’s directives to immediately fish out the perpetrators of the Yelewata massacre in Benue state, the Inspector-general of Police (IGP) Kayode Egbetokun has confirmed the arrest of 26 suspects for their alleged involvement in the recent massacre at Yelewata community of Guma local government area in Benue State.

Egbetokun said in the attack, 47 villagers were killed, two attackers were killed by the police and over 100 others were displaced.

He disclosed this during a press briefing at the Force Headquarters yesterday in Abuja.

Egbetokun said the majority of the suspects were arrested on June 22.

Relatedly, the IGP also revealed that 22 suspects have been arrested for killing 12 travellers in Plateau State, while five persons have been arrested for killing two people in Benue State this week.

The arrests were coming barely a week after President Bola Tinubu directed the immediate arrest of the killer-herders who perpetrated the heinous killing of over 100 people in Yelewata community in Benue State.

Tinubu gave the directive while addressing stakeholders at the Government House, Markudi, during a visit to the State.

The meeting included the Secretary to the Federal Government, George Akume, Traditional Rulers and former governors of the state among others.

Tinubu had called out the Inspector General of Police to know why arrests had not been made at the time.

 “How come no one has been arrested for committing this heinous crime in Yelewata. Inspector General of Police, where are the arrests? The criminals must be arrested immediately,” President Tinubu directed.

He urged the heads of the Department of State Services (DSS) and the National Intelligence Agency (NIA) to intensify surveillance and gather actionable intelligence to apprehend the perpetrators.

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DEFENCE

Malete Imposes Nighttime Restrictions to Curb Robbery Attacks on KWASU Students

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From Abdullahi Abubakar, Ilorin

In a move to stem the tide of rising robbery attacks targeting students in Malete, authorities have imposed a series of restrictions on movement and nighttime activities within the university host community.

The resolution was reached at a stakeholders’ meeting convened by the management of Kwara State University (KWASU), Malete, on Monday with the agreement of all key stakeholders, including the Vice-Chancellor, Professor Shaykh-Luqman Alade Jimoh, members of the University’s extended management team, the Chairperson of Moro Local Government Council, traditional leaders, security agencies, the alumni association, and the Student Union body.

As part of the new security measures Motorcycle operations are now restricted from 10:00PM, all commercial activities and general movement must cease by 11:00PM while generator sets are to be switched off by midnight and night parties banned outright.

The stakeholders also agreed on the formation of a Joint Security Committee, comprising representatives from the University, Malete community, Students Union, and security agencies.

In addition, all private hostels in the community are mandated to engage security personnel, while trained vigilantes will be employed to support formal security efforts.

Speaking at the meeting, Vice-Chancellor Professor Shaykh-Luqman Jimoh reiterated the University’s unwavering commitment to ensuring the safety and wellbeing of all students.

Chairperson of Moro Local Government Council, Hajia Mariam Abdulwasiu, disclosed that the Council would initiate the legal framework to enact a bye-law formalizing the agreed restrictions.

She also announced the deployment of 10 additional vigilantes equipped with necessary security tools to bolster the area’s night patrol.

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DEFENCE

Troops Arrest Eight Kidnap Suspects, Rescue Others in Kwara

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From Abdullahi Abubakar, Ilorin

Troops of the 22 Armoured Brigade, stationed at the Forward Operating Base in Patigi, Kwara State, have arrested eight kidnap suspects and rescued two victims from captivity. The operation, carried out on Saturday, June 21, 2025, was the result of a tactical strike based on credible intelligence, according to the Nigerian Army.

The operation targeted a known hideout on the outskirts of Latandaji Village in Patigi Local Government Area of the State.

Acting on credible intelligence, the troops launched a swift and coordinated assault, catching the suspected criminals off guard. The successful rescue underscores the military’s ongoing efforts to dismantle kidnapping syndicates in the region.

In a statement issued on Sunday by Lieutenant Stephen Nwankwo, Acting Assistant Director of Army Public Relations for the 22 Brigade, the suspects attempted to resist the troops but were quickly overpowered by superior firepower. “During the engagement, troops encountered mild resistance but swiftly subdued the criminals,” Lt. Nwankwo stated.

The operation led to the safe rescue of two kidnap victims, identified as Mr. Amos Moses and Mr. Philip Michael. Both individuals were found unharmed and have since been reunited with their families. Their rescue brought relief to the local community, which has grappled with a rise in cases of abduction in recent months.

During the operation, one individual, identified as Mohammed Mohammed, sustained gunshot wounds in the crossfire. He was promptly evacuated to Bachita Teaching Hospital, where he is currently receiving treatment. His role in the incident, whether as a suspect or otherwise, has not been officially clarified.

Military personnel also recovered two motorcycles and two expended cartridges from the scene, items believed to have been used by the kidnappers during their operations. The recovered materials are currently in the custody of the military and will aid ongoing investigations.

All eight suspects are now in military custody pending preliminary investigations. Lt. Nwankwo confirmed that they will be handed over to the appropriate security agencies for further interrogation and prosecution in accordance with the law.

Reaffirming its commitment to regional security, the Nigerian Army assured residents of Patigi and its environs that operations will continue to root out criminal elements, urging the public to continue supporting security efforts with timely information. The Kwara North senatorial district has, in recent months, witnessed a wave of terrorism and banditry with the presence of “Mahmuda”, believed to be a splinter group from Boko Haram around Kiama and Baruten Local Government Areas of the state, around Kainji National Park. The public outcry over the havoc being wreaked necessitated the visit of the Chief of Army staff, Lt. Gen. Olufemi Oluyede, on the 22nd of April, 2025, to rally the troops of 22 Armoured Brigade Sobi, Ilorin. The visit has yielded positive results, as the criminals have since the operation got under way.

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