Nigeria News (Standard)
Ibadan Analyst Warns Unregulated Security Outfits May Undermine National Stability
Angel Folorunso urges compliance with Private Guard Companies Act as Iru Ekun network proposal raises concerns
Angel Folorunso urges compliance with Private Guard Companies Act as Iru Ekun network proposal raises concerns
A political analyst and former lecturer, Angel Folorunso, has cautioned that the unchecked spread of unregulated private security outfits in Nigeria could pose new security risks and threaten national stability. Folorunso made this warning on Tuesday in Ibadan, Oyo State, through a statement addressing recent calls for alternative security arrangements amid rising insecurity.
The analyst specifically referenced the proposed Iru Ekun security network championed by Yoruba Nation activist Chief Sunday Adeyemo (popularly known as Sunday Igboho), stressing that any group operating outside established legal frameworks might inadvertently create parallel security structures. According to Folorunso, although the worsening state of insecurity across the country has led to increased public demand for community-based or private security solutions, such initiatives must strictly adhere to existing legislation.
Folorunso explained that Nigeria’s private security industry is mainly regulated by the Private Guard Companies Act of 1986. This law stipulates that all private security firms must be licensed, wholly Nigerian-owned, and supervised by the Nigeria Security and Civil Defence Corps (NSCDC). He noted that any deviation from these provisions could worsen the current situation by creating confusion about legitimate authority and accountability.
He further advised stakeholders considering new security organisations to consult relevant laws before launching operations. “We cannot afford a proliferation of groups acting without oversight. It will only add to our existing challenges,” he said in his statement. Folorunso emphasised that government agencies like NSCDC have both supervisory and enforcement roles under the law.
As debates continue over how best to address Nigeria’s growing insecurity, analysts like Folorunso maintain that strict regulation and adherence to legal guidelines remain crucial. There was no immediate response from proponents of the Iru Ekun network at press time.
Nigeria News (Standard)
EFCC Arrests Aviation Security Officer, Two Others Over Alleged ₦4.4bn Gold Smuggling Attempt at Lagos Airport
Commission says suspects tried to ferry undeclared gold out of Nigeria; investigation ongoing as agency vows prosecution
Commission says suspects tried to ferry undeclared gold out of Nigeria; investigation ongoing as agency vows prosecution
The Economic and Financial Crimes Commission (EFCC) has arrested an aviation security officer along with two accomplices for allegedly attempting to smuggle gold valued at ₦4.4 billion through the Murtala Muhammed International Airport in Lagos on Thursday. According to the anti-graft agency, the suspects were apprehended during a routine security check at the airport while trying to move the gold out of the country without proper declaration.
EFCC officials disclosed that the arrest followed a tip-off about suspicious movements involving airport staff and passengers at one of the terminals. The officers intercepted the suspects with several kilograms of gold concealed in their luggage, which they failed to declare to customs and other relevant authorities as required by Nigerian law.
This incident comes at a time when government has been tightening controls on mineral exports due to concerns over revenue losses from illegal mining and smuggling activities. The seizure underscores persistent challenges facing Nigeria’s efforts to regulate its solid minerals sector and secure more foreign exchange earnings from legal exports.
An EFCC spokesperson confirmed that all three suspects are currently in custody and will be charged after investigations are concluded. “We are committed to curbing economic sabotage and prosecuting all those involved,” the spokesperson said in a statement issued on Thursday. Attempts to reach the suspects’ legal representatives were unsuccessful as at press time.
The commission has indicated it will collaborate with other agencies, including Customs and airport authorities, to strengthen monitoring and enforcement measures around airports nationwide. Industry stakeholders say stricter oversight is needed as illegal mineral exports continue to undermine Nigeria’s economic prospects.
Nigeria News (Standard)
CBN Governor Cardoso Receives 2026 Central Banking Award in London
Olayemi Cardoso honoured as Central Bank of the Year, marking international recognition for Nigeria’s monetary authority
Olayemi Cardoso honoured as Central Bank of the Year, marking international recognition for Nigeria’s monetary authority
Governor Olayemi Cardoso of the Central Bank of Nigeria has been presented with the 2026 Central Banking Central Bank of the Year Award at a ceremony in London on Thursday. The award, which recognises excellence in central banking practice and leadership, highlights Nigeria’s role in global monetary policy discussions.
The event saw Cardoso join other top financial leaders from around the world as he accepted the prestigious accolade on behalf of Nigeria’s apex bank. The organisers noted that the CBN was selected for its performance and reforms in recent years, though specific criteria for this year’s recognition were not disclosed at the event.
The Central Banking Awards are widely regarded as a benchmark for outstanding achievement among financial regulators globally. Past winners have included central banks from both developed and emerging markets, making this year’s award a significant milestone for Nigeria. Financial analysts say such honours can boost investor confidence and underscore Nigeria’s commitment to international best practices in economic management.
While official reactions from other government figures were not immediately available as at press time, observers within Nigeria’s financial sector have welcomed the recognition. Stakeholders point to ongoing reforms under Cardoso’s leadership and efforts to stabilise the naira and strengthen regulatory frameworks.
The CBN is expected to continue engaging with international partners following this achievement, as monetary authorities look to build on recent gains and address ongoing economic challenges. Further statements from Cardoso or federal officials are anticipated in the coming days.
Nigeria News (Standard)
Delta Leaders Urge Protesters to Vacate Oil Facilities After Tinubu’s Intervention
Ijaw and Urhobo elders call for end to occupation of Warri oil installations as presidential mediation begins
Ijaw and Urhobo elders call for end to occupation of Warri oil installations as presidential mediation begins
Ijaw and Urhobo community leaders in Delta State have appealed to protesters occupying oil facilities in Warri South-West Local Government Area to withdraw, following President Bola Tinubu’s intervention in the ongoing dispute. The call was made on Thursday after federal authorities began mediation efforts aimed at resolving long-standing grievances over the delineation of the Warri Federal Constituency.
According to community sources, the affected oil installations had been occupied by demonstrators demanding implementation of a Supreme Court judgment on constituency boundaries. This action, which disrupted operations at several key sites, prompted urgent engagement from both local leaders and the presidency.
The dispute over Warri Federal Constituency has persisted for years, with various ethnic groups raising concerns about political representation and resource allocation in the oil-rich region. The recent protest heightened tension in Delta State’s South-South zone, with stakeholders warning of possible economic losses if oil production remained paralysed.
Leaders from both Ijaw and Urhobo communities issued separate statements urging their youths to stand down while talks with federal officials continue. “We must give room for dialogue now that Mr President has shown commitment to address our demands,” one statement read. The elders also cautioned against further disruptions, noting the strategic importance of oil revenues for Delta State and Nigeria as a whole.
Presidential envoys are expected to meet with representatives of all aggrieved groups in the coming days. Meanwhile, security agencies have maintained patrols around major installations to deter any escalation. Delta State government officials have not issued an official comment as at press time.
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