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Matawalle Splashes N1bn on APC Defectors

Against the ideals of his openly declared war against corruption in the state, Zamfara State Governor, Alhaji Bello Muhammad Matawalle is alleged to have spent a whopping N1billion to woo key members of the main-opposition-All Progressives Congress (APC) to join the ruling – Peoples Democratic Party (PDP).
The amount, it was learnt was distributed last month to APC stalwarts including elected Council Chairmen, their deputies, about 103 Councillors and other vocal members of the APC in the state, whose presence in the state chapter of PDP, the Governor is said to have desperately needed.
Part of the money was also spent on “logistics” to stage defection rallies in the state, it was gathered.
DAILY ASSET was informed that a secret meeting between the Governor and the affected Council Chairmen held in Sokoto early February, where arrangements were perfected for the elected chairmen to defect to PDP.
A source familiar with deliberations at the meeting disclosed that each of the defecting chairmen was given the US Dollar equivalent of N36 million, while other whopping amounts were extended to their deputies, councillors and other stalwarts of the party to enable their preparation for the grand defection.
Following the Sokoto meeting, nine of the 14 council chairmen had defected on February 8, at a grand ceremony in Gusau, the Zamfara state capital.
Those who defected include the State Chairman, Association of Local Governments of Nigeria (ALGON) and Chairman, Birnin Magaji LGC, Alhaji Muhammadu Umar; his Vice, Alhaji Salisu Isah Dangulbi, the Chairman, Maru LGC; Secretary of ALGON and Chairman, Bukkuyyum LGC, Alhaji Nasiru Masamar Mudi.
Others include the ALGON Public Relations Officer and Chairman of Anka LGC, Alhaji Ahmed Balarabe Anka; the Chairman, Kaura Namoda LGC, Alhaji Lawali Abdullahi and Maradun LGC, Alhaji Shehu Muhammad Faru.
The rest are Bungudu LGC Boss, Alhaji Abdulaziz Ahmed Nhuche; Tsafe LGC Chairman, Alhaji Aminu Mudi Tsafe; and Zumi Council Chairman, Dr. Ahmed Auwal Bawa Moriki.
Spokesman of ALGON in the state, who is also the chairman of Anka LGC, Alhaji Ahmed Balarabe Anka, while defending the action of his colleagues, said the decision to join PDP was as a result of the leadership style of the Governor, which has led to the restoration of peace and tranquillity in all parts of the state within a short period of his assumption of office.
In spite of the gale of defections, the Chairmen of Gusau, Gummi, Talata Mafara, Bakura and Shinkafi LGCs have stood their ground and resisted the pressure to defect, it was learnt.
The five Chairmen are said to be loyal to the former Governor, Dr Abdulaziz Yari, who is at a dagger-drawn with the governor as far as politics of the state was concerned.
The 14 council chairmen were elected in the twilight of the Yari administration on the platform of the APC, when it was clear that he had lost the bid to control the state following a Supreme Court judgment, which recognised Matawalle as the duly elected Governor of the state.
A top member of the APC in the State, who spoke with DAILY ASSET said the gale of defections was strange in the political culture of the state, adding that the governor’s political activities smack of a secret political agenda that was yet to be revealed.
“What we see happen is that people defect when elections approach but the Governor is mobilizing new members to the party less than one year into his tenure, this is strange to some of us”, said the politician, a one-time Commissioner in the state.
Meanwhile, discontent has set into the camp of the PDP as the new members of the party appear to be receiving better patronage and attention from the Governor.
Party elders who spoke to DAILY ASSET on condition of anonymity said a gulf was emerging between old members of the party and the Governor.
“The elders of this party find it difficult to see the Governor to discuss serious issues affecting the party but he opens his doors widely to the new defectors from APC,” an elder said.
Asked why the elders have not petitioned the National secretariat of the party, the source said they were afraid of victimization.
“If you speak out, the consequences are clear, you will be branded a bandit or sponsor of banditry and treated like a criminal by the powers that be in the party and other powerful government officials,” he stated.
The source queried why the Governor was committing huge amounts of money to “procure political support” while refusing to pay pension allowances to former governors and other public office holders in the state saying it was a contradiction of his anti-corruption stance.
“If the Governor is fighting corruption and at the same time using state funds to buy political support, what else do you call corruption?” the elder queried.
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Veritas Kapital Records N13.6bn Premium in 2025
Veritas Kapital Assurance Plc has reported an eight percent rise in Gross Written Premium to N13.6 billion in the first half of the year.Managing Director of Veritas Kapital Assurance, Dr. Adaobi Nwakuche disclosed this in a statement on Wednesday in Lagos.Nwakuche said the performance reflected strong market presence and effective distribution channels.
She noted that Net Insurance and Investment Income surged by 244 per cent to N5. 2 billion, from N1.52 billion recorded in the full year 2024.According to her, Profit After Tax reached N3.2 billion, already surpassing the company’s total earnings for the full year 2024.“These results affirm the strength of our values-driven model, built on our people’s dedication, a clear strategy, and unwavering focus on customer value,” she said.Nwakuche said Total Assets rose by 11 per cent to N37 billion from N33.1 billion in 2024, showing improved financial health and operational efficiency.She added that shareholders’ funds increased to N15.1 billion from N11.92 billion in 2024, underscoring investor confidence and sound governance.“This performance is the result of disciplined underwriting, investment optimisation, expanded digital capabilities, and strong customer-focused service delivery.“The H1 2025 results go beyond growth. They show Veritas Kapital’s evolving role as a partner in progress, delivering solutions relevant to individuals, businesses, and communities. “Each figure tells a story of protection delivered, promises honoured, and futures secured. We are building trust, not merely growing profits,” Nwakuche said.She added that as Nigeria adapts to new economic realities, Veritas Kapital is charting a course defined by agility, innovation, and intentionality.The company, she said, is investing in digital access, claims responsiveness, and talent development, while reinforcing its core values of integrity, transparency, and service.COVER
FG Disburses N5.12bn Pension Arrears to 90,689 DBS Pensioners

By Tony Obiechina, Abuja
The Federal Government has released funds for the disbursement of N5.12 billion in pension arrears to 90,689 Defined Benefit Scheme (DBS) pensioners under the Pension Transitional Arrangement Directorate.This was contained in a statement by the Head of Corporate Communications of PTAD, Olugbenga Ajayi.
He said that the directorate had finalised the disbursement of the money. The Nigeria Customs Service, the Nigeria Immigration Service, and Prisons Pension Department (CIPPD) pensioners are 8,626, received N276,032, for one-month arrears; the Police, Pension Department (PPD) pensioners are 9,681, received N619,584, for two months as arrears. The Civil Service Pension Department (CSPD) pensioners are 12,773, received N408,736, for one-month arrears, and the Parastatals Pension Department (PAPD) pensioners are 59,609, received N3,814,He said that the payment reaffirms the administration’s commitment to ensuring that pensioners receive their due entitlements in line with the Renewed Hope Agenda of President Bola TinubuAccording to the statement, the approvals align with the President’s Renewed Hope Agenda.“This move shows President Tinubu’s strong commitment to senior citizens’ welfare and marks a new era in DBS pension management,” said PTAD, Executive Secretary, Tolulope Odunaiya.Among the key measures is the immediate implementation of an extra budgetary allocation to enforce new pension rates for DBS pensioners.The President also endorsed the adoption of a proposed pension harmonisation policy, which will be incorporated into the 2026 pension budget. Additionally, health insurance coverage for all DBS pensioners has been approved, ensuring access to essential healthcare services.The proposed reforms include a new pension rate of N32,000 and incremental increases of 10.66% and 12.95% for pensioners from defunct and privatised agencies. Other components of the reform package include harmonisation of pension rates across all DBS pensioners and their enrolment into the National Health Insurance Scheme (NHIS).In June, PTAD announced the successful disbursement of N8.6 billion in pension arrears to 148,625 eligible DBS pensioners across various sectors. The payments reflect the implementation of the N32,000 pension increment approved by President Tinubu in 2024.PTAD had previously settled arrears related to the first pension increment of 20% to 28%, which came into effect in January 2024.COVER
NAF Offensive Decimates 592 Terrorists, Destroys 372 Assets in Eight Months

By David Torough, Abuja
The Nigerian Air Force (NAF) has killed no fewer than 592 terrorists and destroyed 372 enemy assets in Borno within the last eight months, surpassing the total operational gains recorded in 2024.A statement by NAF’s spokesman, Air Commodore Ehimen Ejodame yesterday said the Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar, said this during a courtesy visit to Gov.
Babagana Zulum of Borno. Abubakar said the offensive had destroyed 206 technical vehicles and 166 logistics hubs in deep hostile territory, with coordinated day-and-night strikes from Gonori to Rann, Dikwa to Damboa, Azir to Mallam Fatori.He said the offensive had been boosted by the deployment of A-29 Super Tucano aircraft capable of precision and night missions, Mi-171 helicopters for medical evacuation and logistics, and enhanced intelligence, surveillance and reconnaissance platforms for round-the-clock target tracking.He added that a new Mi-35 gunship was expected to further intensify close-air support for ground troops in the theatre.“Backed by an upgraded fleet and precision night-strike capabilities, NAF aircraft executed 798 combat sorties, clocking over 1,500 operational flight hours in the Air Component of Operation Hadin Kai.“This year, our air war is faster, sharper, and more surgical.“We are taking out high-value targets, crippling their logistics, and hunting down every cell that threatens the peace of the North-East,” he said.The CAS also praised the “Borno Model” of combining community-driven non-kinetic measures with decisive military action, saying it had proven effective in the counter-insurgency campaign.He also inspected facilities at the NAF Base, met with aircrew and ground personnel, and received operational briefings.He reaffirmed the NAF’s commitment to precision air power, intelligence-led operations, and inter-agency collaboration to protect Nigerians.In his response, Gov. Zulum praised the NAF for its sustained air support in degrading terrorist capabilities and protecting communities.According to him, the NAF has been a steadfast partner in their fight against insurgency.“Your operations have saved countless lives and allowed our communities to begin rebuilding.“The people of Borno recognise your sacrifices and stand firmly behind you,” he said.