Business
IGP Orders Manhunt For SAN’s Abductors
Inspector General of Police, Muhammed Abubakar, has ordered the Edo State Commissioner of Police, Foluso Adebanjo, to immediately fish out the suspects, who allegedly kidnapped human rights activist and Senior Advocate of Nigeria, Mike Ozekhome and his driver, last Saturday in Edo State, just as he directed the rescue of the victims unhurt.
Mohammed has also vowed to ensure that the suspects are brought to justice.
Force Public Relations Officers, Frank Mba, told journalists in a telephone interview that the IGP had directed the Edo commissioner of police to commence immediate and vigorous manhunt for the hoodlums “who must be arrested and brought to justice and the kidnapped victims rescued”.
Mba quoted the Inspector General of Police as having said,”we, therefore, once again call on the general public not to relent in their partnership with the police to fish out the criminals as common enemy to our society and report anyone found with the bullet wounds to the nearest police station.”
It would be recalled that four police officers were killed Saturday in Benin-City, the Edo State capital while attempting to foil an abduction bid on human rights activist and lawyer, Chief Mike Ozekhome (SAN).
The officers of the Edo Police Command were killed in their failed attempt to stop the kidnappers from escaping with the human rights activist.
It was learnt that Ozekhome was kidnapped along with his driver while they were travelling along the Benin-Auchi Road.
Narrating the development to newsmen in Benin last Saturday, Edo State Commissioner of Police, Foluso Adebanjo had said: “Operatives of the command led by DPO Ehor Division responded swiftly to a distress call at about 3:30 pm that an unspecified number of armed men had blocked the Benin-Auchi Road by Ehor axis”.
According to him, “but while on their way to the scene, the hoodlums ambushed the police patrol vehicle and opened fire on them.
“At the end of the gun duel, the hoodlums escaped with bullet wounds but not without their victim who was later identified, upon search on his abandoned vehicle, as Chief Mike Ozekhome (SAN) and his driver. Regrettably, the command lost four officers in the encounter”, he said.
There were, however, indications yesterday that the police personally led by the Police Commissioner, Adebanjo, were on the trail of the suspected kidnappers of Ozekhome.
This is the second high profile abduction to have taken place in Edo State in recent times.
In May, unknown gunmen kidnapped the wife and daughter of Supreme Court Justice, Bode Rhodes-Vivour.
The ladies, along with their driver, were intercepted as they were about to enter Benin.
They were later released about three weeks later, presumably on the payment of some ransom to the kidnappers.
Meanwhile, some prominent lawyers in Lagos yesterday condemned the abduction of a human rights lawyer, Mr Mike Ozekhome (SAN), describing the spate of kidnappings across the country as worrisome.
The lawyers, who spoke to newsmen, expressed grave concern about security situation in the country and urged security agencies to intensify their efforts toward apprehending the kidnappers.
Ozekhome was reportedly abducted on August 23 at Ehor near Benin City in Edo State by some unknown persons.
Chairman, Nigerian Bar Association (NBA), Ikeja Branch, Mr Onyekachi Ubani, said the spate of kidnappings in Nigeria was worrisome.
“It is very appalling; both low and high profile individuals are being kidnapped across the country. It shows that there is a problem,” he said.
Also speaking, a human rights activist, Mr Adetokunbo Mumuni, said Ozekhome’s abduction was a reflection of the security situation in the country.
Mumuni, who is the executive director, Socio-Economic Rights and Accountability Project (SERAP), a human rights group, attributed the wave of kidnappings by some unscrupulous elements to poverty and unemployment.
He said: “Until socio-economic injustices are tackled, we may continue to have these security challenges.
“Kidnapping is now rampant because of the limited opportunities available to Nigerians due to poverty and unemployment.”
On his part, another human rights activist, Mr Fred Agbaje, said it was regrettable that Edo had become a hotbed of high profile kidnappings.
Agbaje urged government at all levels to ensure that citizens had access to adequate welfare packages in line with the social contract theory in governance.
Under the social contract theory, it is imperative that lives and properties should be protected, he said.
Business
FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions
Business
CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation
The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.
In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.
However, with time, the need has arisen to streamline these provisions to reflect present-day realities.
“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.
“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.
According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.
Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.
They must also create separate accounts to warehouse processing charges collected on excess withdrawals.
Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.
However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.
The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.
Business
Shippers Council Vows Commitment To Security At Nigerian Ports
-
Business3 days agoCBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation
-
Business3 days ago
Shippers Council Vows Commitment To Security At Nigerian Ports
-
Business3 days agoNigeria Risks Talents Exodus In Oil And Gas Sector – PENGASSAN
-
Business3 days agoFIRS Clarifies New Tax Laws, Debunks Levy Misconceptions
-
Business3 days ago
NCDMB, Others Task Youths On Skills Acquisition, Peace
-
Politics3 days agoTinubu Increases Ambassador-nominees to 65, Seeks Senate’s Confirmation
-
Sports3 days ago
Obagi Emerges OML 58 Football Cup Champions
-
News3 days agoTinubu Swears In Christopher Musa As Defence Minister
