Business
NDLEA Intercepts Europe-Bound Cannabis Hid in Onions at Lagos
Desperate drug cartels are resorting to masking substances in food in the bid to move illegal substances across the world.
Biztellers gathered on Sunday that the National Drug Law Enforcement Agency (NDLEA) intercepted up to 2.7kg of cannabis concealed in dried onions on its way to Dubai through a logistic company.
Spokesperson, NDLEA, Femi Babafemi, disclosure this in a statement, where he also made it known that operatives at the Murtala Muhammed International Airport (MMIA), Ikeja Lagos, disrupted the activities of a drug syndicate that operated between Nigeria, East Africa and Europe.
He further averred that “an attempt to export 2.7kg cannabis packaged as part of dried onions to Dubai through a postal service firm was frustrated by the NDLEA officers attached to the courier company, who seized a carton filled with colourful sachets of dried onions, used to conceal the illicit consignment.
“In Kogi State, a total of 530,160 pills of tramadol and 99,000 tabs of diazepam were seized along Okene-Abuja highway from a bus driver, Suleiman Oyedokun, 41, coming from Onitsha, Anambra State and going to Kontagora in Niger State on Monday, March 13.
“Same day, 576, 100 pills of tramadol concealed in bags of rubber slippers were intercepted by NDLEA officers at trailer garage, old mile 3 road area of Gombe metropolis, Akko LGA, Gombe State.
“Four suspects: Usman Suleiman; Ya’u Yusuf; Saidu Suleiman and Abubakar Umar have so far been arrested in connection with the seizure.
“In Kaduna, 367 kilograms of cannabis sativa were recovered from a vehicle with registration number FKJ141DX.”
He revealed that two suspects, Monday Suleiman, 62, and Sama’ila Mohammed, 30 were arrested in connection with this, while a bribe of N1,200,000 offered to the NDLEA officers was documented as part of exhibits to prosecute the suspects.
In a related development, the NDLEA revealed that no fewer than 1, 205, 260 pills of opioids were seized in two interdiction operations in Kogi and Gombe States.
The suspects were apprehended by the antidrug agency.
Babafemi said, “Operatives at the Lagos airport had on Monday, March 13, intercepted a member of the drug syndicate, Ejezie Ifeanyi, during screening of inward passengers on Ethiopian Airline flight from Malawi via Addis Ababa at the arrival hall.
“When a search was conducted on him, it was discovered that one of his two bags had a false bottom concealment.
“During preliminary interview of the suspect, he confessed that a member of the syndicate was waiting at the airport car park to pick him.
“An immediate follow-up operation led to the arrest of Chukwu Bright, who was waiting in a grey colour Mercedes Benz C180 coupe, marked EKY 973 GQ to receive the drug consignment.”
After the arrest, he also pointed out, a proper search of the bag was conducted before the two suspects leading to the recovery of three kilograms of heroin.
Investigations, Babafemi averred pointed to the drug syndicate having a network between Nigeria, and Malawi, Mozambique in East Africa and Europe.
“While Chukwu who lives in Lagos is responsible for the recruitment and coordination of the activities of mules on behalf of other members of the cartel based in Mozambique and Malawi, another set operates from the southeastern part of Nigeria.
In another related development, operatives of the NDLEA also intercepted cannabis hid in palm oil, also on its way to Dubai.
“Meanwhile, the NDLEA operatives at the SAHCO export shed of the MMIA on Wednesday, March 15, intercepted a jerry can of palm oil going to Dubai, United Arab Emirates.
“At the point of examination, it was discovered that 600 grams of cannabis sativa were concealed inside the jerrycan of palm oil. A suspect, Tunde Ogunbowale, who presented the consignment for export to Dubai was immediately arrested,” Babafemi added.
The statement also had it that operatives in Delta State on March 15 arrested a local female distiller of cannabis sativa and dry gin, Ebi Akpotudua, 52.
She is said to be indulging in the distilling process to produce a cocktail drink popularly known as monkey tail. She was arrested at Ugbrooke by River Road, Warri with 19.5 litres of monkey tail and 22.2kg of cannabis.
Savannah Energy has shared a trading update on its Nigerian operations and other markets in Africa, including up-to-date cash collections in its Nigerian business.
According to the update, made available on Thursday in Lagos, its gross production in Nigeria averaged 23.1 Kboepd for FY 2024, broadly in line with the prior year’s 23.6 Kboepd, of which 88% was gas (FY 2023: 91%).
On the update, CEO of Savannah Energy, Andrew Knott, said, “I am pleased to provide a FY trading update which demonstrates the continued progress we have made in 2024, a year which saw the highest level of cash collections ever recorded by our Nigerian business. 2025 is expected to be an exciting year for our Company: we have a large planned operational programme in Nigeria which is anticipated to enhance both our oil and gas production levels and capacity; we intend to progress our R3 East oil development project in Niger; we continue to pursue key acquisitions in the upstream oil and gas space; and we continue to seek to build our power business.
“Fundamentally, Savannah remains unequivocally an “AND” company, seeking to deliver strong performance both for the short AND long term across multiple fronts, and pursuing growth opportunities in both the hydrocarbon AND power sectors.”
The update It also shows that it generated a Total Income of US$393.6 million in 2024, compared to FY 2023’s US$289.8 million. This consists of Total Revenues of US$258.7 million and Other operating income of US$134.9 million.
The report also shows that Savannah’s FY 2024 Total Revenues were ahead of the previously issued financial guidance of greater than US$245 million, while FY 2024 financial guidance is reiterated for Operating expenses plus administrative expenses at ‘up to US$75 million’. The company expects its FY 2024 capital expenditure to come in lower than planned (previously guided at ‘up to US$50 million’) due to the phasing of spend.
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According to the update, Savannah’s cash collections in 2024 amounted to US$248.5 million, a slight increase from the US$206 million it received in 2023. The report further shows that its cash balances as at 31 December 2024 stood at US$32.6 million, compared to the 31 December 2023 figure of US$107.0 million.
The report shows that the company’s midstream subsidiary, Accugas Limited, had as at 31 December 2024 drawn down on its NGN332 billion of the NGN Transitional Facility, with the resulting funds being converted to US$, which, along with cash held, was used to partially prepay the existing Accugas US$ Facility, leaving a balance as at 31 December 2024 of approximately US$212.3 million.
The report also provided new updates on Accugas’ US$45 million Uquo Central Processing Facility (“Uquo CPF”) compression project in Nigeria, noting that its commissioning which will enable the expansion of gas production in the medium term is well underway.
The report highlighted the progress being made in the procurement process of long lead equipment in Nigeria for a potential two-well drilling campaign on the Uquo Field in H2 2025, with an additional gas development well expected to add up to 80 MMscfpd of supplemental production capacity and a potential exploration well targeting an Unrisked Gross gas initially in place (“GIIP”) of 154 Bscf (25.7 MMboe) of incremental gas resources.
The update shows that progress is also being made in the planned Savannah acquisition of Sinopec International Petroleum Exploration and Production Company Nigeria Limited, whose principal asset is a 49% non-operated interest in the Stubb Creek oil and gas field (“Stubb Creek”), with regulatory approval and completion being targeted in Q1 2025. Following the completion of the acquisition, Savannah intends to commence an expansion programme which is anticipated to increase Stubb Creek gross production from an average of 2.7 Kbopd in 2024 to approximately 4.7 Kbopd.
In Niger, Savannah continues to seek to progress its 35 MMstb (Gross 2C Resources) R3 East oil development in South-East Niger, while it continues to push for a potential alternative transaction structure to acquire a material stake in producing oil and gas assets in South Sudan as previously announced on 20 December 2024.
On the renewable energy front, the update shows that Savannah has up to 696 MW of renewable energy projects currently in motion, including the up to 250 MW Parc Eolien de la Tarka wind farm project in Niger and the up to 95 MW Bini a Warak hybrid hydroelectric and solar project in Cameroon. A firm believer in Africa’s transition to renewable energy, Savannah continues to target a portfolio of up to 2 GW+ of power projects in motion by the end of 2026.
The Nigerian Economic Summit Group (NESG) has projected that the country has the potential to achieve a 5.5% growth in Gross Domestic Product (GDP) if critical policy reforms are sustained.
This was disclosed on Thursday during the launch of the NESG’s 2025 Macroeconomic Outlook report.
Speaking at the event, the Chief Economist and Director of Research & Development at NESG, Dr. Olusegun Omisakin, highlighted the need for more efficient policy implementation to unlock Nigeria’s economic potential.
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“We believe at the optimal level, if we embark on more efficient policy reforms, the Nigerian economy has the potential, the GDP to end up at 5.5 per cent, and we believe that this is achievable,” Omisakin stated.
More to follow……….
The Central Bank of Nigeria (CBN) has announced the release of the Nigerian Foreign Exchange (FX) Code, a set of guidelines designed to promote ethical conduct among authorized dealers in the country’s FX market.
In a statement, the apex bank disclosed that the official launch of the Code would take place on Tuesday, January 28, 2025, at the CBN Head Office Auditorium in Abuja.
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“The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market,” the statement read.
The introduction of the FX Code is expected to enhance transparency, accountability, and professionalism within Nigeria’s foreign exchange ecosystem, aligning it with global best practices.
The event is anticipated to attract key stakeholders in the financial and banking sectors, as well as representatives from authorized FX-dealing institutions across the country.
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