By David Torough, Abuja

Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a notorious drug kingpin, Sunday Ibigide, in Delta State, three years after he went into hiding. The 36-year-old suspect was nabbed while attempting to distribute 250 blocks of cannabis (skunk) weighing 138 kilograms, using his distribution bus.

According to NDLEA spokesperson Femi Babafemi, Ibigide had been on the run since March 19, 2022, when he was linked to a seizure of 24. 137kg of cannabis and 10 grams of molly. He was eventually apprehended on August 10, 2025, along with an accomplice, Clement Osuya (27).In a separate operation, NDLEA agents, supported by the military and local vigilantes, raided three cannabis farms in Enugu Ezike, Enugu State. The operation led to the destruction of 37,500kg of cannabis grown across 15 hectares and the arrest of six suspects. An additional 74.5kg was recovered for prosecution.Still in Enugu, patrol officers on August 16 intercepted 20,700 pills of tramadol and cocodamol from one Emmanuel Ayogu (53) and arrested two others, Nsubechukwu Achidde (24) and Osiaja Frank (41), with 27.6kg of skunk at New Market.In Lagos, operatives arrested a mother and son duo, Muyibat Mumuni (52) and Faruk Mumuni (25), with 298 blocks of “Ghana Loud” cannabis weighing 149kg at Mushin on August 13. Another suspect, Emmanuel Samuel, was caught in Ajah, Lekki, with 8.5kg of Canadian Loud.In one of the largest interceptions this year, NDLEA at Onne Port, Rivers State, recovered 875,000 bottles of codeine syrup (worth over N6.1 billion) and 3.5 million pills of tramadol and benzhexol (valued at N1.7 billion) during a joint examination of five containers with Customs and other security agencies on August 13 and 14.Other major operations included: Edo State: 432kg of cannabis recovered along Warake–Auchi Road, and 130kg seized in Sobe, Owan West LGA.Kano State: Two suspects, Tahiru Manga (25) and Ibrahim Audu (47), caught with 92kg of cannabis on Zaria–Kano Road.Gombe State: 128,000 tramadol capsules seized from Sani Mohammed (32) on August 11.Kogi State: 337,800 tramadol capsules recovered from a commercial bus driven by Sulaiman Oyedokun (47).Taraba State: 11,250kg of cannabis destroyed in Tanmiya forest on August 12; 29,840 tramadol capsules seized in Wukari.Kaduna State: Four suspects arrested with 22,640 tramadol/rohypnol pills and 111.1kg of cannabis.Lagos–Badagry Highway: 4,320 ampoules of ketamine injection intercepted on August 11, with one suspect, Akeem Adegun, arrested.Meanwhile, the agency intensified its War Against Drug Abuse (WADA) campaign through outreach to traditional rulers, including former Head of State Gen. Abdulsalami Abubakar, the Emir of Borgu, Emir of Lafia, and Shehu of Borno.NDLEA Chairman/CEO, Brig. Gen. Mohamed Buba Marwa (Rtd), praised operatives across Delta, Rivers, Enugu, Lagos, Kogi, Kano, Edo, Gombe, Taraba, Kaduna, and Seme Commands for their commitment. He urged continued vigilance and adherence to the agency’s balanced approach to drug control.

By Tony Obiechina, Abuja

The Senate Committee on Capital Markets and Institutions in collaboration with the Securities and Exchange Commission is set to hold a national stakeholders summit on Municipal Bonds and Sukuk for Local Government Infrastructural Development next month.According to the Chairman, Senate Committee on Capital Market and Institutions, Osita Izunaso, the summit themed “$1 Trillion Nigerian Economy: Infrastructure Financing through the Capital Market”, scheduled for September 29, in Uyo, will bring together key players from government, regulators, investors, and the private sector to explore how municipal bonds and Sukuk can unlock new funding for roads, healthcare, housing, water, education, and transport at the local government level.

These instruments, Izunaso stated, offer sustainable, market-based alternatives to traditional funding and have been successfully deployed globally.The Chairman stressed that empowering local governments through the capital market will reduce reliance on federal allocations, promote fiscal independence, create jobs, and accelerate Nigeria’s progress toward a $1 trillion economy.Also commenting on the workshop, Director General of the Securities and Exchange Commission, Dr. Emomotimi Agama stated that Nigeria’s infrastructure gap demands capital market solutions like bonds and Sukuk which provide long-term funding with stable investor returns.He said, “Infrastructural gap in Nigeria can be met effectively through Capital Market Funding adding that the summit is one of the ways to create awareness for stakeholders on some of the benefits of municipal bonds and sukuk among others”.According to the SEC DG, bonds are essentially long-term debt instruments in any structured economy geared primarily to guarantee access to potential resources for the government or company’s infrastructure / developmental purposes and also provide an outlet for investors to enjoy stable returns.Agama stated that the Nigerian bond market has become more popular as the same is being embraced by Governments and corporate institutions to raise funds for crucial projects and business expansion/working capital requirements respectively.“In view of the paucity of revenue to finance necessary developmental infrastructure and services in the country in recent times, the government at all levels need to take advantage of the opportunity available in the capital market through the issuance of bonds to access funds for developmental purposes” he stated.The summit’s primary goal is to explore how Nigeria can build a robust municipal bond and Sukuk market to support local government infrastructure.By gathering key stakeholders from the public and private sectors, the summit will aim to: Educate stakeholders about the benefits and potential of municipal bonds and Sukuk as effective financing tools for local governments: Identify and address challenges faced by local governments in accessing capital markets for infrastructure financing.The event also seeks to create a comprehensive strategy for developing a well-functioning municipal bond and Sukuk market in Nigeria that is adaptable to the country’s local government framework and Promote collaboration among government agencies, financial institutions, investors, and other market participants.This will help to create a sustainable financing ecosystem for local governments and provide actionable policy recommendations and regulatory reforms that would enable and facilitate the issuance of municipal bonds and sukuk by local government.

The All Progressives Congress (APC) has emerged the biggest winner in Saturday’s by-elections, clinching 12 out of 16 seats contested across 12 states, according to results released by the Independent National Electoral Commission (INEC).The elections, held to fill vacant seats in federal and state assemblies, saw the All Progressives Grand Alliance (APGA) secure two victories in Anambra, the Peoples Democratic Party (PDP) retain a seat in Oyo, while the New Nigeria Peoples Party (NNPP) won in Kano.

President Bola Ahmed Tinubu congratulated all winners, commending INEC for conducting what he described as largely peaceful and credible polls. He also praised APC’s new National Chairman, Prof. Nentawe Yilwatda, for delivering the party’s first major electoral triumph under his leadership.“Chairman Nentawe Yilwatda has demonstrated capacity and unity of purpose. Our Renewed Hope agenda is not just a slogan, it is a promise of a more secure and prosperous Nigeria,” Tinubu said in a statement signed by his spokesman, Bayo Onanuga.However, the elections were not without controversy. Both APC and PDP demanded cancellations in parts of Kano over alleged irregularities, while PDP chapters in Edo and Jigawa outrightly rejected APC’s declared victories, citing vote-buying, intimidation, and alleged sabotage of the Bimodal Voter Accreditation System (BVAS).Despite disputes, APC leaders, including governors in Edo and Kaduna, described the outcome as a reflection of growing confidence in Tinubu’s government and state-level leadership.INEC has declared elections in parts of Zamfara and Enugu inconclusive, leaving some contests yet to be decided.