The National Pension Commission (PenCom) has blacklisted seven Primary Mortgage Banks (PMBs) for failing to comply with guidelines on the use of Retirement Savings Accounts (RSAs) as equity contributions for residential mortgages. In a circular dated August 11, 2025, PenCom directed all Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to stop accepting or processing applications from contributors seeking to use part of their RSA balances as equity contributions through the affected mortgage institutions. The blacklisted mortgage banks The institutions barred from the scheme are Jigawa Savings & Loans Limited, FHA Mortgage Bank Limited, Delta Trust Mortgage Bank Limited,…
Author: Abdoulaye Kay
An accident in Angwan Mayo, Kokona Local Government Area of Nasarawa State, on Monday morning, August 18, 2025, thwarted a gang of suspected kidnappers shortly after they had collected ransom from their victims. According to reports, the suspects were fleeing in an Opel Vectra—registration number Plateau BLD 566 ST—when the vehicle lost control near a Vehicle Inspection Office (VIO) checkpoint and crashed. The two occupants fled immediately, abandoning the car at the scene . A vigilant VIO officer initially recovered a G3 rifle and cash from the wrecked vehicle and handed them over to the police. The vehicle was towed…
In a new memoir titled Beyond Expectations, Newswatch founding editor Yakubu Mohammed has finally broken his silence on long-standing conspiracy theories linking the assassination of his colleague, Dele Giwa, to the mysterious case of Gloria Okon. Giwa, then editor-in-chief of Newswatch, was killed on October 19, 1986, by a parcel bomb delivered to his Lagos residence. Since his death, speculation has persisted that Giwa had been investigating the alleged death—or secret release—of Gloria Okon, a young woman arrested in Kano on drug-smuggling charges. Rumors claimed that Okon either died in custody or was secretly flown abroad because of her alleged…
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has commenced the process of reviewing Nigeria’s revenue-sharing formula to reflect current realities and ensure a fairer distribution of national resources. Chairman of the Commission, Mohammed Shehu, made the disclosure on Monday in Abuja while speaking to journalists on the need to adjust the existing formula which has remained unchanged since 1992. Why the review? Shehu explained that Nigeria has undergone significant political, economic, demographic, and social transformations over the past three decades, making the old formula outdated. “The current revenue allocation formula was designed in 1992, over thirty years ago. Since…
Heavy flood has devastated several communities in Sokoto State, submerging farmlands, destroying houses, and claiming the life of a seven-year-old boy. The disaster, which struck on Thursday, August 14, affected parts of Bodinga and Shagari Local Government Areas. In Bodinga, the communities of Badau (Darhela Ward) and Butuku (Toma Ward) were worst hit. Reports indicated that more than 3,000 farmlands in Badau and 75 in Butuku were submerged, leaving many farmers in despair. A joint assessment team from the Sokoto State Emergency Management Agency (SEMA) and the National Emergency Management Agency (NEMA) visited the flood-affected areas on Sunday. The team,…
Senate President Godswill Akpabio has returned to Nigeria from London, dismissing widespread rumours about his health. Akpabio arrived at the Nnamdi Azikiwe International Airport, Abuja, in the early hours of Monday, where he was received at the presidential wing by fellow senators, aides, and supporters. Speaking to journalists on arrival, the Senate President described speculations that he had been hospitalised in London as false and mischievous. “I’m fit as a fiddle. I only stopped over in London for a short vacation,” he said. Akpabio had earlier attended the Sixth World Conference of Speakers of Parliament in Geneva, Switzerland, held from…
Rescue efforts are underway in Sokoto State after a boat en route to the Goronyo Market, carrying more than 50 passengers, capsized on Sunday, the National Emergency Management Agency (NEMA) confirmed. ASHENEWS earlier reported the tragic boat accident, which occurred in Kojiyo Ward, Goronyo Local Government Area of the state. As of now, 10 individuals have been rescued, while over 40 passengers remain unaccounted for. ALSO READ Tragedy as boat capsizes in Sokoto community Mrs. Zubaida Umar, Director-General of NEMA, stated that the agency swiftly deployed its response team to the scene and is coordinating closely with local authorities, divers,…
The management of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Oyo State, has confirmed the killing of one of its students during a sign-out ceremony, after days of speculations surrounding the incident. According to a statement issued by the Registrar, Mr. Olayinka Balogun, the tragic incident occurred on Wednesday, August 6, 2025, at the Ultramodern Wazo Market in Ogbomoso. The victim, identified as Babalola Marvelous Olanrewaju, a 300-level student of the Department of Mechanical Engineering, was reportedly shot during the gathering and later died from his injuries. Balogun explained that LAUTECH had banned sign-out activities since 2023 and had formally…
The Nigerian Immigration Service (NIS) has deported 42 foreign nationals, including Chinese and Philippine citizens, who were convicted by a Federal High Court in Lagos for cybercrime-related offences. The deportees, who left Nigeria on Sunday, August 17, were found guilty of engaging in cyberterrorism, Ponzi schemes, and other online fraud activities. Their conviction followed a major security operation on December 10, 2024, when operatives raided Oyin Jolayemi Street, Victoria Island, Lagos, arresting 759 suspects, among them 192 foreigners. According to the NIS, the 42 deportees represent the first batch, while other convicted individuals will be repatriated in phases, with more…
The National Drug Law Enforcement Agency (NDLEA) has arrested a notorious drug kingpin, 36-year-old Sunday Ibigide, in Asaba, Delta State, three years after he went underground to evade arrest for drug trafficking offences. Ibigide, who had been on the agency’s wanted list since March 2022, was apprehended on Sunday, August 10, 2025, alongside one of his aides, 27-year-old Clement Osuya, while attempting to move 250 blocks of skunk weighing 138 kilograms with his distribution bus. NDLEA spokesperson, Femi Babafemi, said in a statement on Sunday that Ibigide first came under the agency’s radar in 2022 after the seizure of 24.137kg…