Nigeria News (Standard)
Lagos State Orders Alaba Rago Traders to Vacate Roadside Market Within 72 Hours
Taskforce cites illegal structures and environmental hazards; no relocation plan announced for affected traders
Taskforce cites illegal structures and environmental hazards; no relocation plan announced for affected traders
Lagos State Government has issued a 72-hour quit notice to traders operating along the Alaba Rago corridor on the Mile 2–Badagry Expressway, warning that enforcement action will commence against anyone still trading on the site after the deadline. The directive was delivered on Monday by the Lagos State Taskforce, citing illegal structures, roadside trading, and environmental concerns as primary reasons for the eviction.
According to CSP Adetayo Akerele, Chairman of the Lagos State Taskforce, officials conducted sensitisation meetings with traders before issuing the notice. Akerele said that makeshift shops, unauthorised structures and what he described as ‘mini brothels’ are incompatible with Lagos’s status as a modern megacity and its position as an international gateway. The corridor in question forms part of the ECOWAS Road linking Lagos to Seme border, heavily used by cross-border traders and international travellers.
The situation has stirred apprehension among traders, who were told during an official briefing to ‘find a place to rent and be living there and go to market and sell your market.’ As at press time, government has not announced any relocation site or alternative market for those affected. This lack of a transition plan mirrors recent events in Lagos: just last week, Oshodi Resettlement Market—originally established for earlier evictees—was itself shut down after alleged attacks on sanitation officials by traders. The market remains closed indefinitely.
Eviction exercises in Lagos have repeatedly led to mass displacement without clear resettlement arrangements. In Makoko, residents reported that a clearance zone initially set at 30 metres from power lines was later expanded up to 500 metres, affecting tens of thousands. Similarly, over 10,000 residents of Ilaje-Otumara were displaced without prior notice last year.
With Lagos authorities insisting that an unregulated market cannot coexist with an international route, many observers fear enforcement will again outpace meaningful support for those displaced. Traders at Alaba Rago have until the deadline to leave voluntarily; what follows may resemble recent flashpoints seen at Oshodi.
LASG Gives 3 Days To Alaba Rago Roadside Traders To Vacate Corridor
Source: https://www.pulse.ng/story/lagos-gives-alaba-rago-traders-72-hours-to-leave-2026062416144635907
Nigeria News (Standard)
Kogi University Arrests Two Suspected Cultists, Intensifies Crackdown on Campus Crime
Vice-Chancellor Salisu Ogbo Usman vows sustained action as students confess to cult membership after arrest in Anyigba
Vice-Chancellor Salisu Ogbo Usman vows sustained action as students confess to cult membership after arrest in Anyigba
Authorities at Prince Abubakar Audu University, Anyigba, Kogi State, have arrested two suspected cultists on campus as part of a renewed crackdown on cultism and related criminal activities. The suspects, Fidelis Atuluku (Matric. No. 2026SE1252) and Monday Okolo (Matric. No. 2026SE1247), both first-year students from the Department of Social Studies/Education, were apprehended on Tuesday, 23rd June 2026 following a tip-off.
According to the university’s management, the suspects were tracked by a joint security team and found in possession of charms while within the school premises. Upon interrogation, both students confessed to being members of the Juris Confraternity and revealed they had been initiated prior to their admission into the university. The institution stated that the suspects would be handed over to law enforcement agencies for further investigation and legal action.
The latest arrests come amid heightened security concerns after a recent breach on campus prompted university authorities to declare ‘total war’ against cultism. Cult-related violence has remained a pressing issue in tertiary institutions across Nigeria, with many stakeholders worried about its impact on academic life and student safety.
In an official statement issued by Uredo Omale, the university’s public relations officer, Vice-Chancellor Professor Salisu Ogbo Usman reiterated management’s commitment to rooting out cultism and restoring sanity within the institution. “We will not relent until we rid our campus of all criminal elements,” Usman said. He further advised parents and guardians to closely monitor their wards and remain vigilant against signs of involvement in illegal groups.
With investigations ongoing, the university has pledged continued collaboration with security agencies to safeguard lives and property on campus. The development underscores growing efforts by educational authorities nationwide to stem the tide of cult-related violence in Nigerian universities.
Nigeria News (Standard)
CAP Plc Appoints New Executive Director and Company Secretary in Lagos
Board makes leadership changes to strengthen governance as company targets improved performance in Nigeria’s paints sector
Board makes leadership changes to strengthen governance as company targets improved performance in Nigeria’s paints sector
Chemical and Allied Products Plc (CAP Plc), a leading manufacturer in Nigeria’s paints and coatings industry, has announced the appointment of a new executive director and company secretary. The appointments were made public on Wednesday, 24 June 2026, following a meeting held at the company’s headquarters in Lagos State.
According to a statement issued by CAP Plc, the board approved the appointments as part of ongoing efforts to reinforce effective corporate governance and drive business growth. The new executive director is expected to bring strategic leadership experience to the management team, while the company secretary will oversee regulatory compliance and board processes.
Industry analysts say this move is significant for CAP Plc as competition intensifies within Nigeria’s manufacturing sector. The paints and coatings industry has seen increased demand from real estate and construction activities, but also faces challenges such as fluctuating naira exchange rates and rising production costs.
The board expressed confidence that the newly appointed executives will help position CAP Plc for greater efficiency and market leadership. “These appointments align with our vision to maintain high standards of accountability and deliver value to shareholders,” the board noted in its statement.
With these changes, CAP Plc aims to strengthen its management structure ahead of upcoming business expansion plans. The company is also expected to update shareholders on its performance at the next annual general meeting.
Nigeria News (Standard)
Elon Musk Loses Trillionaire Status as Net Worth Falls Globally
Tesla and SpaceX CEO’s wealth drops below ₦1.7 trillion after recent stock market fluctuations and tech sector slowdown
Tesla and SpaceX CEO’s wealth drops below ₦1.7 trillion after recent stock market fluctuations and tech sector slowdown
Elon Musk, Chief Executive Officer of Tesla and SpaceX, has lost his status as the world’s first trillionaire following a significant drop in his net worth this week. The development, which has attracted attention among global investors and Nigerian tech enthusiasts alike, comes after a sharp decline in the value of shares held across his companies.
Musk’s wealth dipped following a selloff in the technology sector on major stock exchanges, with Tesla experiencing notable losses that erased billions from its market capitalisation. The billionaire entrepreneur, who previously reached the trillion-dollar mark due to surging Tesla valuations, now finds his fortune reduced below that threshold, according to global financial tracking platforms.
The change marks a reversal from late 2025 when Musk’s net worth soared amid strong demand for electric vehicles and advances in space technology. For many Nigerians following international markets, Musk’s trajectory is closely watched as it reflects broader trends impacting tech investments and innovation funding worldwide.
Financial analysts attribute the recent downturn to shifting investor sentiment and concerns over rising interest rates globally. “High-profile figures like Elon Musk are not immune to the volatility we’re seeing,” said one Lagos-based analyst on Wednesday. “This could affect foreign investment patterns in Africa’s own emerging tech sector.” There was no immediate official comment from Musk or representatives of Tesla at press time.
Market watchers say further fluctuations are likely as global economic pressures continue to weigh on technology shares. For Nigerian entrepreneurs and investors, experts suggest keeping a close eye on international trends that could shape access to capital and valuation prospects for local startups.
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