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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 Rescue 28 Kidnap Victims, Detain 10 Suspects In Enugu

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The Police Command in Enugu has rescued 28 kidnap victims and detained 10 suspects in Enugu State.

The command also recovered firearms, ammunition, cash, vehicles, motorcycles and other exhibits in separate coordinated operations within the past 10 days.

This is contained in a statement issued by the Command’s Spokesman, SP Daniel Ndukwe on Tuesday in Enugu.

Ndukwe said that the feat was part of the Command’s sustained efforts to rid Enugu State of unrepentant violent criminals.

“On May 18, at about 6:30 p.m., operatives attached to Umumba Police Division, working with the Neighbourhood Watch, Forest Guards and community members, rescued two male and two female victims kidnapped along Umumba-Ndiuno-Aguoba Road in Ezeagu Local Government Area.

“This followed a tactical bush-combing operation.

“Four male suspects linked to the crime were immediately detained and are currently assisting with ongoing investigations,” he said.

The spokesman said that on the same day, at about 6:34 p.m., operatives from 9th Mile Division responded to a distress call and arrested a suspect.

According to him, the suspect and three others have attempted to kidnap a woman, who raised an alarm.

He said that the suspect, who was severely beaten by the mob, was taken to hospital for treatment and is being investigated further.

“Similarly, operatives from Okpuje Police Division of the Command, in collaboration with Neighbourhood Watch and Forest Guards, on May 17, 2025, carried out a strategic bush-combing operation in a forest bordering Okpuje in Enugu State and Odolu in Kogi State.

“During the operation, they intercepted two men found with ₦150,000 and ₦70,000 respectively, intended for ransom payments, as well as loaves of bread and drinks requested by the kidnappers.

“Upon further incursion, the team encountered armed resistance from the kidnappers but responded with superior firepower, forcing them to flee with gunshot wounds and abandon the victims, a pump-action gun, and two live cartridges.

“The victims were rescued unhurt and the exhibits recovered. Efforts to track down the fleeing suspects are ongoing,” he said.

Ndukwe said that earlier, on May 14, 2025, at about 5:30a.m., operatives from Igbo-Eze North Division, with the Military and Neighbourhood Watch, rescued 21 kidnapped victims in Amaka-Okpodu community in Kogi State.

He said that the victims, some of whom were returning from a traditional marriage ceremony, had been allegedly abducted on May 10, 2025, along Iyionu-Aguibeje Road in Igbo-Eze North LGA by hooded armed men.

“Five male suspects were subsequently detained following credible intelligence, and three firearms were also recovered. Additionally, a minibus and four motorcycles used by the travelling victims were earlier recovered from the scene of the crime.

“In another operation, on May 13, 2025, at about 9:45 p.m., operatives of the Command’s Anti-Kidnapping Tactical Squad, acting on credible information, rescued a kidnapped victim along the Enugu/Port-Harcourt Expressway and recovered his Toyota Camry.

“A white Toyota Corolla with registration number ENU 703 LP used by the suspects and a Lexus 330 Jeep abandoned at the kidnapping scene in Premier Layout, Independence Layout, Enugu, were also recovered.

“Operations to hunt down the fleeing suspects are ongoing,” he said.

Ndukwe said that the state’s Commissioner of Police, Mr Mamman Giwa, had commended the police operatives, the collaborating security agents and law-abiding community members for their efforts in making the operations successful.

The spokesman said that the commissioner reaffirmed the command’s avowed commitment to make Enugu State safer and more secure by rooting out violent criminals and their activities.

He said that the state police boss urged residents to remain law-abiding, vigilant and cooperative with police and other law enforcement authorities. (NAN) 

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CRIME

Police Nab Native Doctor, Recover Arms, Ammunition From Shrine

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The police operatives of the Enugu command, attached to the  Special AntiCultism Squad (SPACS)  have nabbed a native doctor, for alleged possession of fire arms and ammunition hidden in his shrine.

This is contained in a statement issued by the command’s Spokesman, SP Daniel Ndukwe, in Enugu on Monday.

Ndukwe said that the police recovered one locally-made pistol, one revolver pistol, one expended and one live .

38 special calibre ammunition and one live cartridge from his shrine located at Ugwuochie-Iwollo in Ezeagu Local Government Area of the state.

“The recovery followed the suspect’s confessional statements after his earlier arrest, as well as a subsequent raid on the shrine by the operatives.

“The suspect confessed to being a member of the Black Axe confraternity.

“He will be arraigned in court upon the conclusion of investigations,” he said.

The Commissioner of Police, Mr Mamman Giwa, commended the operatives for their efforts and urged them to sustain the momentum, ensuring that “Enugu State remains uninhabitable for unrepentant criminals.”

The commissioner also urged members of the public to remain supportive of the command’s efforts. (NAN)

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DEFENCE

FG Introduces New Online Citizenship, Business Management Platform

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The Ministry of Interior has  announced the launch of a new Online Citizenship and Business Management Platform.

This is contained in a statement by the Ministry’s Permanent Secretary, Magdalene Ajani on Friday in Abuja.

Ajani said that the new digital platform was designed to streamline the application and processing of citizenship and business-related services, ensuring faster turnaround time and improved user experience.

The platform is aimed at managing citizenship applications, processing business permits, and administering regulations related to businesses and foreign workers.

The permanent secretary explained further that the initiative was part of the ministry’s ongoing reforms aimed at promoting transparency, enhancing operational efficiency thereby significantly improving service delivery to the public.

“Members of the public, corporate entities, and other stakeholders are hereby expected to access the platform through the following official channels: Ministry of Interior’s website: https://interior.gov.ng.

Direct portal access: https://candb.interior.gov.ng, candb-support@interior.gov.ng for support or inquiries.

“The ministry remains committed to establishing a more efficient, transparent, and secure framework for citizenship administration, while continuously enhancing service delivery through digital transformation.(NAN)

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