Crime Facts

Imo govt accuses PDP of plotting violence after party warned new LG Chairmen to Steer Clear of Council Headquarters

Imo state government has raised the alarm over an alleged plot by the opposition People’s Democratic Party (PDP) to instigate violence in the state on account of the just concluded local government election. The Imo PDP on Tuesday, said the newly elected LG chairmen and councilorship were illegal. The state Commissioner for Information, Public Orientation, and Strategy, Hon Declan Emelumba, disclosed that credible information at its behest indicated that PDP in the state wants to borrow a leaf from the recent violence in Rivers State against newly sworn-in local government chairmen and councilors. Emelumba said it was too much of a coincidence that just 24 hours after the Rivers violence, PDP, in a statement on Tuesday, warned elected local government chairmen in Imo state to steer clear of the council Secretariats in the 27 LGAs. The Commissioner argued that such a warning was ominous and portended danger and, therefore, demanded the immediate attention of the security agencies. According to him, while PDP was free to rant and accuse the state of all unimaginable and unsubstantiated financial crimes, the threat of violence was not going to be tolerated. He noted that it has been a while since the local government chairmen were sworn in after a successful election and wondered why the PDP was threatening them just 24 hours after the violence in Rivers State. ” If you went through their incoherent and contradictory statement of Tuesday, October 8, 2024, you will come out with the impression that they want to employ self-help in addressing their colossal loss during the local government election. They said their candidates ought to be declared winners and in the same breath, they alleged there was no election’, the commissioner pointed out. He debunked the allegation by the PDP that the elected chairmen were forced to submit resignation letters in case they failed to do the bidding of the governor’ He also faulted PDP for claiming that Gov Hope Uzodimma has taken 50 percent of local government funds to finance the state electricity project, noting that all transactions regarding the project were transparent. Describing the PDP as a sore loser that was never prepared for the election, Emelumba urged it to approach the court for whatever remedy it seeks, as advised by President Bola Ahmed Tinubu. He warned them against resorting to any kind of violence against the chairmen and councilors who were democratically elected by their people in their respective local government areas. New LG Chairmen Must Steer Clear of Council Headquarters —PDP The Peoples Democratic Party (PDP) in Imo State on Tuesday claimed that nothing resembling an election on September 21, 2024, and therefore, the purportedly elected 27 local government Chairmen and 305 Councillors are mere impostors and wannabes, bizarrely imposed on the people of Imo by the Hope Uzodimma-led State Government. The main opposition party in Imo State said that the Chairmen and Councillors remain an illegal assembly, being used by their paymaster to undermine our democracy and the rule of law and to further oppress the already traumatized people of Imo by siphoning local government allocations. In a statement by PDP’s Publicity Secretary in the State, Lancelot Obiaku claimed that the party had already intercepted intelligence regarding an alleged deal by the Uzodimma administration that will require each of the purported 27 LG Chairmen to return more than 70 percent of the local government allocations accruing to their LGAs to the State government’s coffers. Speaking further, Obiaku said that to completely bind these appointed Chairmen and leave no room for rebellion, the Governor has allegedly forced them to sign their resignation letters and other binding documents, which will be enforced against any Chairman who fails to comply. He stated that the State Government is also said to have previously signed off two years’ worth of LGAs’ allocations to an Egyptian company for an alleged electrification project of the State under a Public Private Partnership (PPP) arrangement. Imo PDP also claimed that while less than 50% of the total sum taken from the LGAs for the period under review was reportedly approved for the company in a deal that has yet to materialize, more than 50% is likely to end up in private pockets, as the Governor has never accounted for the monies received into the joint State/LGA account, which he continues to illegally maintain in sheer defiance of the Supreme Court’s judgment earlier this year. The party called on anti-graft agencies, including the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC), and the Nigerian Financial Intelligence Unit (NFIU), to investigate these fraudulent activities and initiate the prosecution of the complicit individuals under the full weight of the law. These financial crimes must not go unpunished. Imo, PDP also alerts these agencies, as well as the judiciary, to the failure of the State’s Chief Judge to constitute an election tribunal fourteen days before the agreed date for the LG election to receive pre- and post-election petitions. Furthermore, in blatant violation of the Electoral Act, the ISIEC allowed the APC to submit its candidates just two days before the election.All of these are credible evidence that the so-called election was null and void. If any party and candidates were qualified to be declared winners under any circumstances, it must be the PDP and its candidates, who met all the requirements and submitted their nominations within the legal timeframe. The party asked the Accountant-General of the Federation and the Federal Ministry of Finance not to credit any account in the name of the LGAs in the State in line with the Supreme Court verdict until a legally acceptable LG poll is conducted in the State. The Imo PDP, therefore, insists that Uzodimma’s purportedly elected Chairmen and Councillors should not approach the LG Councils and must cease parading themselves as such, as doing so is an insult to democracy and the intelligence of the people of Imo.

Gunmen kill five, injure others in Anambra community

The Nawfia community in Njikoka Local Government Area, Anambra State, was plunged into mourning over the weekend following a gunmen attack that left five people dead. Eyewitnesses reported that the assailants stormed the town on Sunday night, arriving in a Lexus RX Jeep and a Toyota Sienna. They opened fire on unsuspecting residents, killing five and injuring several others, including a small child. Among the victims were two indigenes of Nawfia: 26-year-old Samuel Onyebuchi Nnatuanya and 29-year-old Chukwuebuka Ifeanyichukwu Nwonukwue, both from Adagbe Mmimi village. The other three victims were residents of Nawfia, including one from Ukwulu in Dunukofia Local Government Area, while the others hailed from Ebonyi State and a northern region of Nigeria. The attack occurred around 8:00 PM in the Umukwa-Umuriam axis of the town, where the gunmen fired on unsuspecting youths before fleeing the scene. Reacting to the tragedy, the Nawfia Progressive Union, through its President General, Chief Daniel Okoye, expressed deep sorrow over the loss of lives. In a statement, he condemned the senseless killing of the community’s youths and non-indigenous residents, vowing that the town’s leadership would do everything possible to expose the perpetrators. “We are heartbroken by the senseless murder of our sons and the residents who chose to make Nawfia their home. The Nawfia Progressive Union and town leaders are committed to ensuring that those responsible are brought to justice,” Okoye said. He urged the community to remain calm, stating that there was no concrete evidence to support circulating rumors regarding the attackers’ motives or origins. He also called on the Nigerian Police to conduct a thorough investigation into the incident, criticizing the inadequate response from law enforcement thus far. Efforts to reach the Anambra State Police Public Relations Officer, Ikenga Tochukwu, for comment were unsuccessful, as calls and messages sent to him went unanswered.

Dangote Refinery named sole supplier of jet fuel in Nigeria

The Nigerian federal government has officially designated Dangote Refinery as the sole provider of Jet A1 fuel to aircraft operators across the country. This announcement was made by the Minister of Aviation, Festus Keyamo, during an interview broadcast on Channels TV on October 8. Keyamo revealed that airline operators had recently convened and agreed, with his endorsement, to source all their jet fuel exclusively from the Dangote refinery, which has a capacity of 650,000 barrels per day. “This decision stems from a recent meeting of the airline operators in Nigeria, where they collectively resolved to purchase Jet A1 fuel solely from Dangote Refinery, with my approval,” Keyamo stated. He noted that the federal government had also initiated a naira-for-crude agreement with Dangote, emphasizing that all transactions would now be conducted in Naira, eliminating any dollar components. “This arrangement is timely as we have just implemented the naira-for-crude purchase. It will significantly reduce the pressure on foreign currency reserves,” he added. Keyamo assured that this local currency transaction would stabilize fuel prices, shielding them from the fluctuations associated with the international market and the unpredictable oil price dynamics. “The pricing will be more predictable since it will no longer be influenced by international market factors. We anticipate that this will provide us with more affordable access to Jet A1 fuel,” he concluded.

Fubara warns of oil output decline if Rivers faces further attacks

Following a period of unrest, Rivers State Governor, Siminalayi Fubara, has warned that his administration will not tolerate political thuggery and acts of violence that threaten the state’s stability, particularly in light of recent attacks that led to the burning of several local government secretariats. Governor Fubara, speaking during the swearing-in of four new commissioners at the Government House in Port Harcourt on Tuesday, expressed his administration’s determination to work with the Nigerian Police Force and the Department of State Services (DSS) to identify and bring to justice those responsible for the attacks in Ikwerre, Emohua, and Eleme Local Government Areas. The new commissioners sworn into the Rivers State Executive Council are Hon. Israel Lebura Ngbuelu, PhD; Hon. Evans Bapakaye Bipi; Barrister Otamiri John Ngubo; and Hon. Barrister Benibo Anabraba. Fubara recalled that during the swearing-in of newly elected Local Government Council chairmen on October 6, 2024, he had warned of potential violence from disgruntled individuals. His fears were realized when political thugs burned down council buildings in multiple areas. “I had foreseen this unrest. Some individuals, unhappy with the election outcome, are going to great lengths to disrupt peace in Rivers State,” Fubara said. He vowed that the perpetrators would not go unpunished, urging the people of Rivers to remain calm while the government investigates. Governor Fubara acknowledged the frustration of Rivers residents but commended them for their restraint in the face of violence. He reiterated his commitment to peaceful leadership and discouraged retaliation against the attackers. “We are carrying a basket of precious eggs, and we must handle it with care and wisdom,” Fubara said, urging the people to prioritize peace over conflict. He emphasized that engaging in violence would only lead to further losses for the state. Fubara also addressed the ongoing issue of oil theft, warning that unchecked theft and pipeline vandalism could severely impact Nigeria’s economy. He called for collective action to increase oil production, noting that revenue from oil was already insufficient to meet the country’s needs. “Our focus must remain on curbing oil theft and ensuring pipeline security. Only then will revenues increase, allowing us to fund critical development projects for Rivers State,” the governor stated. Despite the political turmoil, Governor Fubara assured residents that his administration was making significant progress on various projects and services that would soon be showcased. He hinted that by the end of October 2024, a series of impactful projects would be unveiled to the public. Congratulating the newly appointed commissioners, Fubara stressed the need for dedication, loyalty, and diligence in their new roles. He expressed confidence in their ability to contribute to the administration’s success and help implement government policies for the betterment of Rivers State.

Supreme Court sets Oct 22 for 16 governors’ suit seeking to declare EFCC illegal

The Supreme Court, on Tuesday, fixed Oct. 22 for the hearing of a suit filed by at least 16 state governments challenging the constitutionality of the laws establishing the Economic and Financial Crimes Commission (EFCC) and two others. A seven-member panel of justices, led by Justice Uwani Abba-Aji, fixed the date after the states were joined as co-plaintiffs and leave granted for consolidation of the case in the suit originally filed by the Kogi Government through its Attorney General (AG). Read Also: ‘Temper justice with mercy,’ Speed Darlington’s mother begs Burna Boy to release her son The states that joined in the suit marked: SC/CV/178/2023 include Ondo, Edo, Oyo, Ogun, Nassarawa, Kebbi, Katsina, Sokoto, Jigawa, Enugu, Benue, Anambra, Plateau, Cross-River and Niger. The 16 states said they are relying on the fact that the constitution is the supreme law and any law that is inconsistent with it is a nullity. The plaintiffs argued that the Supreme Court, in Dr Joseph Nwobike Vs Federal Republic of Nigeria, had held that it was a UN Convention against corruption that was reduced into the EFCC Establishment Act and that in enacting this law in 2004, the provision of Section 12 of the 1999 Constitution, as amended, was not followed. They argued that, in bringing a convention into Nigerian law, the provision of Section 12 must be complied with. According to them, the provision of the Constitution necessitated the majority of the states’ Houses of Assembly agreeing to bring the convention in before passing the EFCC Act and others, which was allegedly never done. The argument of the states in their present suit, which they said had been corroborated by the Supreme Court in the previous case mentioned, is that the law, as enacted, could not be applied to states that never approved of it, in accordance with the provisions of the Nigerian constitution. Hence, they argued that any institution so formed should be regarded as an illegal institution. When the case was called on Tuesday, lawyers, who represented the states, made their submissions. While the majority sought to be joined as co-plaintiffs, two of the states prayed for an order for consolidation of the case. Kogi AG’s counsel, Abdulwahab Mohammed, SAN, informed the court that there were states that indicated interest in consolidation of the case and those seeking to be joined as co-plaintiffs. “It is for this honourable court to tell us how to proceed my lord. “Out of about 15 states, there are about 13 of them that have indicated interest to be co-plaintiffs and only two want consolidation. “To make the task of the court easier, those who want to be joined as co-plaintiff should be joined and abide by the processes already filed and those who sought consolidation should be asked to file within seven days,” Mohammed said. After the lawyers’ submissions, Justice Abba-Aji granted their prayers.She adjourned the matter until Oct. 22 for a hearing. The Kogi State AG had, in the suit number: SC/CV/178/2023 sued the Attorney-General of the Federation (AGF) as sole defendant. In the originating summons filed by a team of lawyers led by Prof .Musa Yakubu, SAN, the state raised six questions for determination and sought nine reliefs. The Kogi government sought a declaration that the federal government through the Nigerian Financial Intelligence Unit (NFIU) lacked the power to issue any directive, guideline, advisory or any instrument however called for the administration and management of funds belonging to the state. The government also sought a declaration that the EFCC, the NFIU or any agency of the federal government cannot investigate, requisition documents, invite and or arrest anyone concerning offences arising from or touching on the administration and management of funds belonging to the state.

State House spent N22bn on overhead

The State House management on Tuesday disclosed that its overhead expenditure amounted to N22.62bn, spread across seven cost centres. These include the State House Headquarters, State House Operations (President), State House Operations (Vice President), Office of the Chief of Staff, Office of the Chief Security Officer to the President, State House Medical Centre, and Lagos Liaison Office. The Permanent Secretary of the State House, Olufunso Adebiyi, revealed this during an oversight visit by the House of Representatives Committee on Special Duties to the data centre located in the Presidential Villa, Abuja. The State House Director of Information and Public Relations, Mr Abiodun Oladunjoye, announced this in a statement issued on Tuesday titled ‘State House to Achieve Full Digitisation by November 2024, Says Permanent Secretary, as Reps Tour Data Centre.’ During his presentation on the 2023/2024 budget implementation, the Permanent Secretary highlighted that the State House had achieved 43 per cent implementation of capital projects for 2024 and an impressive 99 per cent implementation in overhead expenditure. “Out of this appropriated amount, so far, as of 31 August 2024, a total sum of N15.08bn has been released to us; and of the said released amount, a total of N14.9bn has so far been expended during the fiscal year, leaving an outstanding balance of N14.5bn. This represents an encouraging performance of 99 per cent,” he said. On capital expenditure, Adebiyi noted that N51.3bn was appropriated for 2024, with N22bn spent, leaving a balance of N29.3bn, representing 43 per cent implementation. The Permanent Secretary commended the Committee members for approving an increased budget allocation to the State House in the 2024 appropriation, particularly given the considerable demand from various cost centres during the challenging fiscal year. “This has gone a long way in enhancing our performance as an important arm of government, especially with regards to the welfare of staff and various capital projects, such as the renovation of the residential quarters of the President, Aguda House, computerisation and digitalisation of the State House, construction of an office complex, replacement of operational vehicles, and others,” he said. The chief accounting officer further presented the 2023 budget and supplementary budget performances.He disclosed that N1.65bn was approved for personnel costs in 2023, of which N1.65bn was spent, leaving a balance of N439,433.66. For overhead expenditure in 2023, N8.29bn was appropriated, and N8.27bn was expended, leaving an outstanding balance of N14.5m, marking a 99.82 per cent budget implementation. Regarding total capital expenditure for 2023, the Permanent Secretary said N11.2bn was approved, with N10.9bn spent, representing an overall performance of 98 per cent.Adebiyi also mentioned that the State House is set to achieve full digitisation of its operations by November 2024. According to him, the completion of the computerisation and digitisation process would enhance efficiency, security, and the seamless operation of critical administrative functions at the State House. The visit, led by the Chairman of the House Committee on Special Duties, Hon. Kabir Tukura, was part of the legislators’ statutory oversight to assess the performance of the 2023 and 2024 budgets of the State House. Adebiyi also briefed the lawmakers on the ongoing renovations at Dodan Barracks, Lagos, the former seat of government. He noted that the renovations are expected to be completed before the end of the year. Adebiyi invited the legislators for an on-the-spot assessment of the barracks, with funds for the project and others at the Lagos Liaison Office sourced from the 2023 supplementary budget and the 2024 budget respectively. In his remarks, Tukura expressed satisfaction with the ongoing digital transformation and commended the State House for its commitment to budgetary discipline and modernising government services. “The 2024 budget is still ongoing, and I would say, so far, so good. The releases have been made and utilised by almost 98 per cent, and that is quite commendable. “There are no gaps. The 2023 budget has been completed. Members have asked questions, and we have heard the responses from the Permanent Secretary. We are convinced they are doing well,” he said.

NCC withdraws press statement on Starlink

The Nigerian Communications Commission has withdrawn its recently issued press statement regarding the operations of Starlink, a satellite internet service provider. In a brief message addressed to media outlets on Tuesday, the NCC acknowledged that the statement was released in error, urging editors and journalists to retract any related publications. “Kindly note that this press statement on Starlink was issued in error. It is hereby WITHDRAWN. If already published, kindly BRING DOWN,” the message, signed by the NCC’s Manager of Media Relations, Kunle Azeez, stated. The commission’s Director of Public Affairs, Reuben Muoka, had announced plans to take enforcement measures against Starlink, for raising its subscription prices in Nigeria without the regulator’s approval. In a message sent to its customers last week, Starlink said the price hike would affect both existing and new customers. The monthly subscription fee was increased by 97%, from N38,000 to N75,000. Additionally, new users will face a higher cost for the Starlink kit (the hardware needed for installation), which is now priced at N590,000, up 34% from the previous price of N440,000. However, the NCC stated that it had not approved the price increase. “The decision by Starlink to unilaterally review its subscription packages upwards did not receive the approval of the Nigerian Communications Commission,” Muoka said. He explained that the commission was “surprised” when the company announced the price changes, despite having filed a request with the NCC for a price adjustment, which the regulator had yet to approve.

Court orders INEC to recognise Abure as Labour Party’s National Chairman

A Federal High Court sitting in Abuja, on Tuesday, affirmed Mr. Julius Abure as the National Chairman of the Labour Party, LP. The court, in a judgement that was delivered by Justice Emeka Nwite, directed the Independent National Electoral Commission, INEC, to accord the LP under Abure’s leadership, all the rights and privileges accorded a political party duly registered in Nigeria. Neighbor recounts how woman abused 12 years old niece, burnt her with hot knife and forced…..0:00 / 0:00 It equally ordered INEC to perform its lawful duty by conducting a refresher training for the upload of LP’s agents into the INEC portal and to issue the plaintiff (Abure) the Access Code required to access INEC’s portal for the Ondo Governorship Election scheduled to hold on 16th November 2024. The judgement followed a suit marked: FHC/ABJ/CS/1271/2024, which was brought before the court by Abure. The INEC was listed as the sole defendant in the matter. Specifically, Abure, in an affidavit he deposed to in support of the suit, told the court that following the death of the National Chairman of the LP, he was lawfully elected as the Acting National Chairman of the party at a National Executive Council, NEC, meeting of the party that held in Benin City, Edo State, on March 29, 2021. He told the court that on April 18, 2023, at the NEC meeting of the party held in Asaba, Delta State and duly monitored by INEC, it was resolved that the tenures of State Chairmen whose tenures had expired, be renewed. He said it was at the same meeting that some members who were engaged in anti-party activities were expelled and replacements for vacant positions were created as a result of the expulsion, done. Abure averred that in line with a consensus that was reached at the meeting, the party subsequently held its National Convention on March 27, 2024, at Nnewi, Anambra State, where we were lawfully elected to the office of National Chairman of the LP. He said the party under his leadership produced candidates for governorship elections in both Edo and Ondo states. According to the plaintiff, on June 28, 2024, INEC, issued to him and 18 other National Chairmen of political parties, a Notice for Inspection of Sensitive Election Materials for the Ondo and Edo state governorship polls. However, he decried that a later notice that INEC gave for political parties to nominate two persons from their IT unit to undertake training on how to upload data to INEC’s portal for the impending Ondo state gubernatorial election, was not served on him. Abure told the court that he became aware of the existence of the said notice of the training by INEC, on August 21, 2024, because he is a member of the Inter-Party Advisory Committee, IPAC. Therefore, he prayed the court to intervene by compelling INEC to accord him recognition as the National Chairman of the LP. While granting the request, Justice Nwite held that he found merit in the case of the plaintiff. “I am of the view that and so hold that the basis of these cogent verifiable documents, the defendant’s attempt to impeach the validity of the leadership of the plaintiff fails. “The plaintiff has proved his case “I hereby make an order compelling the defendant to accord the plaintiff’s political party under the leadership of Barrister Julius Abure all the rights and privileges accorded a political party duly registered in Nigeria,” Justice Nwite held. It will be recalled that following a leadership crisis that rocked the LP, the NEC of the party, last month, resolved to remove Abure as the National Chairman. To fill the leadership vacuum, the party constituted a 29-member caretaker committee, with former finance minister, Senator Esther Nenadi Usman, as Chairman and Hon. Darlington Nwokocha as Secretary. The decision was the outcome of an expanded stakeholders’ meeting of the party that was hosted in Umuahia by Governor Alex Otti of Abia State. The meeting where Abure was sacked from office was chaired by his former ally and candidate of the party in the 2023 presidential election, Mr Peter Obi.

Soludo threatens to seal shops of traders observing Monday sit-at-home

Anambra State Governor, Prof. Chukwuma Soludo, has threatened to seal any shop or plaza closed on Mondays in compliance with the sit-at-home order initially declared by the Indigenous People of Biafra. Soludo issued the warning during an inspection tour of the Main Market in Onitsha on Monday, where he expressed his displeasure over the large number of locked shops and plazas. The governor visited the market, known as the largest in West Africa, to observe the level of commercial activity amid the lingering sit-at-home order. Since IPOB declared the sit-at-home in 2021 to protest the extraordinary rendition of its leader, Nnamdi Kanu, the exercise has continued to disrupt business activities in the South East, despite IPOB’s official suspension of the order. Fear of violent enforcement has caused markets, schools, banks, and other businesses to remain closed every Monday. Soludo, who inspected the market, warned that any trader or business that refuses to open on Mondays would face severe penalties, including the sealing of shops for up to one month. He stressed that the persistent closure of businesses on Mondays would damage the local economy, as customers might start going to other regions to purchase goods. He said, “I am here to ensure that your shops are open.From now on, every Monday, the Main Market must be open for business,” the governor declared. “If you fail to open, your shop will be sealed for one week, and if necessary, for up to one month. When you are ready to open, it must be from Monday through Saturday.” Soludo assured the traders that adequate security measures would be in place to protect them, urging them to resume full commercial activities on Mondays.

Nigeria recorded $2.60bn in capital importation for Q2 – NBS

Nigeria’s capital importation reached $2.60bn in the second quarter of 2024, representing a robust increase of 152.81 per cent year-on-year compared to $1.03bn in Q2 2023. This is according to the latest capital importation report from the National Bureau of Statistics released on Tuesday. Despite this substantial annual growth, the figure marks a decline of 22.85 per cent from the $3.38bn recorded in the first quarter of 2024. The decrease in quarterly figures highlights ongoing fluctuations in investor sentiment, reflecting global economic uncertainties and domestic challenges. The report read, “In Q2 2024, total capital importation into Nigeria stood at US$2,604.50 million, higher than US$1,030.21 million recorded in Q2 2023, indicating an increase of 152.81%. In comparison to the preceding quarter, capital importation declined by 22.85% from US$3,376.01 million in Q1 2024.” Portfolio investments emerged as the primary driver of the capital inflows, contributing $1.40bn, or 53.93 per cent of the total. These investments often involve foreign investors injecting capital into Nigeria’s stocks, bonds, and other financial instruments, aiming for quick returns. Meanwhile, other investments, which include loans, trade credits, and other forms of debt financing, followed with $1.17bn, accounting for 44.92 per cent of the total inflows. Foreign Direct Investment (FDI), however, lagged significantly with just $29.83m, making up a mere 1.15 per cent of the total. This trend points to a persistent challenge for Nigeria in attracting long-term capital that can drive sustainable economic growth and job creation. The banking sector was the largest beneficiary of capital importation, receiving $1.12bn, representing 43.15 per cent of total inflows in the quarter. This sector’s dominance highlights the crucial role of banks as conduits for foreign investments, facilitating access to Nigeria’s financial markets. Following the banking sector, the production/manufacturing sector attracted $624.71m, which constituted 23.99 per cent of the total. This influx into production and manufacturing suggests a positive outlook for industrial activities, potentially signalling a gradual recovery in Nigeria’s manufacturing capacity. The trading sector also saw significant capital inflows, amounting to $569.22m (21.86 per cent), reflecting the resilience of trade activities in the country. On a geographic basis, Lagos State maintained its position as the leading destination for capital importation, attracting $1.37bn, or 52.52 per cent of total inflows. Lagos remains the commercial hub of Nigeria, offering a strategic entry point for foreign investors due to its robust infrastructure and dynamic business environment. Abuja (FCT) followed closely, receiving $1.24bn, which accounted for 47.48 per cent of the total. In contrast, Ekiti State recorded minimal capital inflows, with just $0.0003m during the quarter, indicating the concentration of investment in more established economic centres. The report also highlighted the sources of these capital inflows. The United Kingdom emerged as the largest contributor, with investments totalling $1.12bn (43.01 per cent) of the overall capital importation, reinforcing its position as a key partner in Nigeria’s financial landscape. The Netherlands was the second-largest contributor with $577.82m (22.19 per cent), while the Republic of South Africa ranked third with $255.98m (9.83 per cent). Among banks, Citibank Nigeria Limited led the charge, receiving $818.46m, equivalent to 31.43 per cent of total inflows. Standard Chartered Bank Nigeria Limited followed with $654.79m (25.14 per cent), while Rand Merchant Bank Plc garnered $488.59m (18.76 per cent).