Nigeria News (Standard)
Lagos Insurance Index Records 1.75% Loss, Wipes Out Two Years of Gains on NGX
Sector’s downturn follows poor earnings and recapitalisation concerns, making it the only major index in negative territory
Sector’s downturn follows poor earnings and recapitalisation concerns, making it the only major index in negative territory
The insurance sector on the Nigerian Exchange Limited (NGX) has posted a year-to-date loss of 1.75 percent as at June 19, reversing the strong gains recorded over the past two years. The negative returns, which have affected operators and shareholders alike, were registered in Lagos, where trading on the NGX takes place.
Data released by the NGX shows that this marks the first time in two years that the insurance index has closed in negative territory. In 2024, the sector delivered a remarkable return of 107.74 percent, ranking second only to oil and gas, which gained 159.81 percent. The positive trend continued into 2025, with insurance outperforming the all-share index and yielding about 79 percent for investors as at August of that year.
Analysts have attributed this year’s poor performance to investor worries over weak earnings from insurance operators and uncertainty surrounding ongoing recapitalisation efforts. The insurance index is now the only major sectoral index on the NGX to record a loss this year, while others—such as banking, oil and gas, consumer goods and industrial goods—have all posted gains.
A stockbroker based in Lagos who preferred not to be named said many investors are holding back pending clarity on recapitalisation guidelines and future earnings prospects for listed insurers. “The sector has seen its momentum slow down because shareholders are worried about how companies will meet new capital requirements,” the broker explained.
With other sectors showing resilience despite economic headwinds—including a naira that remains volatile—market watchers say attention will remain on regulatory moves by NAICOM and quarterly results from listed insurers in the coming months. Investors are expected to closely monitor developments around recapitalisation policies and company performance before making further commitments.
Nigeria News (Standard)
Delta Police Arrest Two Suspected Cable Vandals in Ndokwa West
One suspect hospitalised after attempted escape as police recover stolen electric cables along Ibabu–Ugiliamai Road
One suspect hospitalised after attempted escape as police recover stolen electric cables along Ibabu–Ugiliamai Road
Operatives of the Delta State Police Command have arrested two individuals suspected of vandalising electric cables in Ndokwa West Local Government Area on Tuesday, 25 June. The suspects were apprehended around 10:30pm along the Ibabu–Ugiliamai Road following a joint operation involving officers from Kwale Police Station and members of the local vigilante group.
According to a statement issued by Delta State Police Public Relations Officer, SP Bright Edafe, the security team acted swiftly on credible intelligence that some persons were removing and stealing electric cables in the area. Upon sighting law enforcement, the suspects attempted to flee the scene, resulting in one of them sustaining injuries during the pursuit. The injured suspect is currently receiving medical attention, while the other is in police custody.
Cable vandalism has become a significant concern in Delta State and across Nigeria, often leading to prolonged power outages and financial losses for communities. The state government has repeatedly called for increased vigilance by residents and closer collaboration with security agencies to combat such crimes.
SP Edafe stated that investigations are ongoing to determine if other individuals are involved in the syndicate. “We urge members of the public to continue providing timely information that can help us protect public infrastructure,” Edafe said in Thursday’s press release.
The police command assured residents that efforts will be intensified to prevent further incidents of cable theft in Ndokwa West and neighbouring communities. Authorities also reminded residents that anyone found engaging in vandalism or aiding such activities would face prosecution according to Nigerian law.
Source: https://guardian.ng/news/nigeria/metro/delta-police-arrest-two-suspected-cable-vandals/
Nigeria News (Standard)
Trump Claims US Military Strikes in Borno Prevented Mass Killing of Christians by ISWAP
Former US president says American intervention curbed attacks; Nigerian government yet to issue official response
Former US president says American intervention curbed attacks; Nigerian government yet to issue official response
Former United States President Donald Trump has stated that military strikes authorised by his administration in Borno State helped prevent the mass killing of Christians by militants linked to Islamic State West Africa Province (ISWAP). Trump made this assertion on Friday during an event held in Washington, where he defended his decision to target terrorist groups operating in Nigeria’s North-East region.
According to Trump, the US military operations significantly reduced attacks on Christian communities in Borno and neighbouring states, which had been facing repeated assaults from ISWAP fighters. He said, “As you know, we recently struck Nigeria and largely ended the slaughter of great Christian populations. They have a great Christian population. They were being butchered—thousands and thousands of people were being killed, children, women, old people, just being slaughtered, hacked to death.”
Trump added that the American intervention sent a strong warning to the militants responsible for these attacks. He claimed the strikes discouraged further violence against religious minorities in the region. The former president did not provide specific details regarding the timing or scale of the US operations referenced.
The Nigerian government and security agencies are yet to release any official statement confirming the reported strikes or commenting on Trump’s claims as at press time. In previous years, Borno State and other parts of North-East Nigeria have witnessed repeated attacks targeting both Muslim and Christian communities by various armed groups, including ISWAP and Boko Haram.
Security analysts say international military cooperation is often conducted discreetly and that foreign involvement in counter-insurgency operations can carry both diplomatic and security implications for Nigeria. The opposition could not be immediately reached for comment regarding Trump’s statements.
Nigeria News (Standard)
Former Super Eagles Coach Adegboye Onigbinde Laid to Rest in Modakeke, Osun State
Onigbinde, who led Nigeria to the 2002 FIFA World Cup, remembered for his legacy in Nigerian football
Onigbinde, who led Nigeria to the 2002 FIFA World Cup, remembered for his legacy in Nigerian football
Adegboye Onigbinde, the former head coach of the Super Eagles, was buried on Saturday in Modakeke, Osun State. The burial ceremony drew family members, friends, and football stakeholders who came together to pay their last respects to the veteran tactician.
Onigbinde’s funeral was held at his hometown of Modakeke, marking the end of an era for one of Nigeria’s most respected football coaches. Attendees described him as a disciplinarian and a mentor whose contribution to Nigerian football development spanned decades. Many local residents and members of the football community gathered to honour his memory.
Onigbinde rose to national prominence when he managed the Super Eagles at the 2002 FIFA World Cup. He is credited with nurturing young talent and promoting professionalism in Nigerian football. His death is considered a significant loss by many in the sports fraternity, particularly those from Osun State and across the South-West geopolitical zone.
Though details of official statements were not available at press time, tributes have continued to pour in from fans and former players who worked with Onigbinde during his long career. They praised his dedication and commitment to raising the profile of Nigerian football on the world stage.
As Nigerians reflect on Onigbinde’s enduring legacy, sports analysts note that his impact will continue through coaches and players he mentored over the years. The Nigerian Football Federation is expected to organise further commemorative events in honour of his service.
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