Naval Chief Tasks Personnel on Proactiveness, Forward Thinking To Combat Insecurity

The Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla, has charged Nigerian Navy personnel to remain adaptable, proactive, and forward-thinking in the fight against insecurity.

Represented by Flag Officer Commanding, Special Operations Command, Rear Admiral Olusegun Shoyemi, Ogalla gave the charge at the Nigerian Navy Provost and Regulating School in Makurdi on Friday.

The CNS, who spoke at the graduation ceremony of students of Naval Police Officer Basic Course 14 of 25 and Able Regulating Qualifying Course 16 of 25, described the current security situation as evolving.

He told the graduates that the evolving nature of naval operations and security challenges required personnel to continue to improve their knowledge, skills, and understanding in their fields.

“The Nigerian Navy is constantly adapting to meet the ever-evolving challenges of the 21st century.

“Our maritime domain continues to grow in strategic importance, and it is imperative that you, as members of this esteemed Service, remain adaptable, proactive and forward-thinking.

“As such, take every opportunity to learn, improve and contribute to the advancement of our Navy.

“As personnel in the Provost and Regulating Department of the Navy, you are entrusted with some of the most important roles in maintaining the discipline, order and welfare of personnel.

“The skills and knowledge you have acquired in this institution have equipped you, not only with the technical proficiency required for your duties but also with the moral and ethical framework that is essential to serving as leaders,” he added.

Ogalla said that the success of the Nigerian Navy was largely built on the foundation of discipline and order.

The CNS told the graduates to remember that their responsibilities extended  far beyond mere enforcement.

He assured them that the Nigerian Navy, under the present leadership, remained committed to providing them with the necessary resources, training and support to excel in their respective careers.

The Commandant, Nigerian Navy Provost and Regulating School, Makurdi, Capt. Henry Eje, said in his remarks that the 18-week course was to instill in the students, the best practices in law enforcement within the military and outside.

Eje said that various methodologies were used to train the students.

The commandant listed the methodologies to include classroom lectures, practical demonstrations, presentations and study visits, amongst others.

“Some of the subjects taught during these courses included Naval Law, Criminology, Provost and Crime, Security and Intelligence, Case File Compilation, Element of Law and Contemporary Operations, amongst others.

“It is pertinent to note that a Professional Diploma in Forensic Investigation and Security Management package conducted by the International Institute of Professional Security was added to the course curriculum.

“The inclusion of this package has not only broadened the knowledge of these graduands but also prepared them to face contemporary and emerging security threats in the maritime environment.

“It has also added value to them, as they are now Associate Members of the International Institute of Professional Security.

“It is equally worthy of note that the students were introduced to a hands-on cybersecurity and cryptography package in collaboration with Greg and Co ICT Hub Ltd,” he added.

He further said that the package explored the evolving threat landscape, key cyber defence strategies, and the role of cyber security in modern warfare and investigation.

According to him, the whole essence of the programme was to introduce the students to several threats emanating from cyberspace, its dangers to military facilities and ways of mitigating and investigating cases related to cyber security attacks on military facilities where applicable.

A detailed breakdown of course and student performance was presented by Lt. Commander Fidelis Anyogo, the Chief Instructor.

The high point of the graduation ceremony was the presentation of certificates to the graduands and awards to outstanding ones. (NAN) 

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    Recapitalisation: With 200 Days to Deadline, Banks Intensify Efforts to Scale Hurdle

    Recapitalisation: With 200 Days to Deadline, Banks Intensify Efforts to Scale Hurdle

    Nume Ekeghe

    With just 200 days left before the Central Bank of Nigeria’s (CBN) March 31, 2026 recapitalisation deadline, Nigerian banks are ramping up efforts to meet the stringent capital requirements. From exploring mergers and acquisitions to raising fresh capital through rights issues and public offers, the industry is abuzz with strategic moves aimed at strengthening balance sheets and preserving market share.
    The countdown has triggered a wave of activity across the financial sector, as lenders race not only to comply with regulatory demands but also to position themselves competitively for the future of banking in Africa’s largest economy.

    At the beginning of the exercise, the estimated capital requirement gap was about $4.1 trillion, and so far the banks have raised $2.8 trillion.
    The new capital requirement which stipulated N500 billion for international banks, N200 billion for national, and N50 billion for regional, were unveiled as part of CBN’s push to strengthen balance sheets and build resilience in the face of persistent macroeconomic shocks.

     So far, at least 11 banks have crossed the finish line. Access Holdings, Zenith Bank, GTBank, Ecobank, Stanbic IBTC, Wema Bank, Jaiz Bank, Lotus Bank, Providus Bank, Greenwich Merchant Bank, and Premium Trust Bank have all met the capital requirement for the operating licence they hold.
    GTBank recently raised N365.85 billion through a capital injection from its parent company, GTCO, lifting its paid-up capital from N138 billion to N504 billion.
    Also, Access Bank and Zenith Bank, both tier-one players, secured their positions earlier through rights issues and public offers.

    These early movers have effectively removed uncertainty about their status, sending reassuring signals to investors and depositors.
     Other institutions are in the process of raising funds through equity markets, private placements, or asset sales.
    Today, the United Bank for Africa Plc (UBA) is in the middle of a rights issue, which it recently extended to September 19, 2025, after securing approval from the Securities and Exchange Commission (SEC). Market watchers are optimistic that the tier-one bank would meet its target comfortably.
    Similarly, Fidelity Bank has raised more than N273 billion and is planning a private placement to close the remaining gap.

    FCMB which has already raised N144.6 billion, is pursuing further capital through divestments from subsidiaries like Credit Direct and FCMB Pensions, alongside offshore placements.
    FSDH recently sold its stake in PAL Pensions, redeploying proceeds to shore up its balance sheet.
    Some banks are making tactical adjustments to navigate the higher thresholds. Nova Bank, which once considered applying for a national licence, has opted to remain a regional player, limiting its requirement to N50 billion.

    Providus Bank is in the process of acquiring Unity Bank, a move that will elevate it from regional to national status.
    Analysts believe the recapitalisation programme was progressing smoothly than many had feared.
    Head of Financial Institutions Ratings at Agusto & Co, Ayokunle Olubunmi, noted that most banks are on track, with some even ahead of schedule. He added that the heavy lifting has been done locally.

    In a chat with THISDAY, he said: “Most are moving in line with their capital plans, and many are even ahead of schedule. Encouragingly, most of the funds have come from Nigerians, not foreign investors. Out of the roughly N4 trillion required, about N3 trillion has already been raised, largely from domestic investors. By December, we’ll have a clearer picture.”

     A report by SBM Intelligence titled ‘Capital, Competition, and Consolidation’ released recently stated: “The ongoing recapitalisation drive, mandated by the Central Bank of Nigeria, is set to reshape the competitive landscape. Most Tier-2 banks have responded proactively, employing a mix of public offers, rights issues, private placements, and strategic divestments to meet or exceed new capital thresholds.

    “This sector-wide commitment to financial resilience and regulatory compliance is expected to enhance the stability of the banking system, improve loss absorption capacity, and position Nigerian banks to support the country’s ambition for a $1 trillion economy.

    “Looking ahead, the sector is likely to witness further consolidation, with mergers and strategic alliances among mid-tier banks becoming more prevalent. This will not only create larger, more competitive institutions but also foster innovation and expand access to credit for businesses and consumers. However, the risk of marginalising smaller players and the potential for integration challenges must be carefully managed to ensure that the benefits of recapitalisation are broadly shared across the economy.”

    For the Head of Africa Financial Services, McKinsey & Company, Mayowa Kuyoro, the recapitalisation would produce stronger institutions with stronger balance sheets.
    “We are going to have institutions that have capital for growth and capital for expansion. So, whether you are expanding into new customer segments or product verticals, what is going to happen is that we are going to see a lot more innovations in that space because the institutions have the capital to grow,” she added.

    Also, McKinsey’s Managing Partner in Lagos, Frederick Twum, stated that the Nigerian banking sector was at a critical juncture, with higher capital requirements and digital disruption driving a new era of consolidation and innovation.
    “Nigeria’s banking market sector has been shaped by macroeconomic shocks, regulation, and maturing digital disruption. Key trends include higher capital requirements driving consolidation, fintechs targeting underserved SMEs, and open banking unlocking embedded finance.

    “In addition, foreign exchange revaluation gains are fading—and are increasingly getting ring-fenced. Banks will be looking for new sources of value. The Nigerian banking sector is at a critical juncture, with higher capital requirements and digital disruption driving a new era of consolidation and innovation,” Twum added.

    The post Recapitalisation: With 200 Days to Deadline, Banks Intensify Efforts to Scale Hurdle appeared first on THISDAYLIVE.

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    Nume Ekeghe With just 200 days left before the Central Bank of Nigeria’s (CBN) March 31, 2026 recapitalisation deadline, Nigerian banks are ramping up efforts to meet the stringent capital
    The post Recapitalisation: With 200 Days to Deadline, Banks Intensify Efforts to Scale Hurdle appeared first on THISDAYLIVE.

    DSS Brokers Fresh Truce Between NUPENG, Dangote Refinery

    DSS Brokers Fresh Truce Between NUPENG, Dangote Refinery

    *NANS urges FG to protect refinery

    Emmanuel Addeh and Onyebuchi Ezigbo in Abuja

    The Department of State Services (DSS) has again waded into the labour dispute between the Dangote Refinery and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) in an attempt to prevent the imminent breakdown of the truce earlier signed by both parties.

    This emerged as the leadership of the National Association of Nigerian Students (NANS) urged the federal government to ensure the protection of the Dangote Refinery by forestalling anything that would lead to the disruption of the petrol supply chain. NANS also noted that while it recognises the role of unions in the defense and protection of human rights, joining a union ought to be voluntary.

    THISDAY learnt last night that at the meeting called by the leadership of the secret police in Abuja, both the company and the union resolved to adhere to the September 9 agreement, when the issues were first discussed and resolved.
    As part of the agreements, the oil company was also directed to immediately restore NUPENG stickers on its trucks, which were allegedly removed earlier.

    Present at the high-level meeting, it was gathered, were the Minister of State for Labour, DSS Deputy Director General, officials from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), officials from Dangote Refinery as well as representatives of NUPENG, Trade Union Congress (TUC), and the Nigeria Labour Congress (NLC).

    “The resolution upheld the September 9, 2025, agreement directing all parties to maintain status quo and warning against further violations,” one source said.
    The parties also reaffirmed the truck drivers’ right to remain unionised under NUPENG. But while welcoming the resolution, NUPENG warned that any renewed breach of the deal may trigger a full-scale industrial action.
    On September 9, the management of Dangote and NUPENG had signed a Memorandum of Understanding (MoU) in Abuja, granting workers the freedom to join any union of their choice without interference.

    However, barely 24 hours after the meeting, NUPENG accused Dangote Refinery’s management of violating the pact, an allegation the company denied. Earlier yesterday, the union again accused the Dangote Group of being “economical with the truth.”
    In a statement jointly signed by NUPENG President, Williams Akporeha and General Secretary, Afolabi Olawale, the union had said Dangote misrepresented facts about its relationship with workers and their freedom to join NUPENG.

    “The press statement by Dangote Petroleum Refinery dated September 11, 2025 further confirms the company’s aim to crush our union, NUPENG, as well as stifle competition, with the ultimate goal of increasing fuel prices in the long run,” it stated.

    Apart from tanker drivers, NUPENG stated that the refinery’s operational and administrative staff had also been obstructed from exercising their right to unionise. “It is on record that Dangote Group does not permit unionisation in its cement and sugar plants across Nigeria,” it said.

    Meanwhile, NANS in a statement yesterday by its Senate President, Usman Adamu Nagwaza, stressed that in as much as it recognises the importance and vital role that unions and associations play in the defense and protection of human rights, “we are obliged at this point to set the record straight: joining one is a matter of free will.”

    It added: “No individual or group should be compelled or coerced into membership. Everyone has the freedom of association, and the choice not to associate should never warrant threats of a national showdown from any individual, body, or union.

    “Furthermore, it is pertinent to state emphatically and unequivocally that we have no problem with the activities of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG). However, we cannot afford a situation that could degenerate into a national crisis. If the feud between the Dangote Refinery and the leadership of NUPENG persists, we foresee a likelihood of returning to the days of fuel scarcity.

    “The negative impact of fuel scarcity on the economy and its injurious consequences are not far-fetched. Hence, we cannot afford a situation where tanker drivers embark on a strike. We have not witnessed fuel scarcity in a long time, and that is a feat we must commend the Renewed Hope administration of President Bola Ahmed Tinubu for.

    “The ailing economy is now being resuscitated, and the best any individual or group can do at this time is to give the necessary support to the government and the private sector, of which the Dangote Refinery is a germane contributor, rather than dragging the nation’s economy backward.”

    It added: “Equally concerning are credible security reports indicating that the notorious oil cartel, responsible for holding the country to ransom for decades through fuel subsidy scams, cross-border smuggling, and deliberate promotion of import dependence and persistent fuel scarcity may be positioning themselves to exploit the current impasse. Intelligence suggests they may be plotting to attack the newly acquired Compressed Natural Gas (CNG)-powered fuel distribution trucks of the Dangote Refinery, with the most extreme intentions being to set them ablaze.

    “We urge NUPENG to embrace dialogue and refrain from inadvertently becoming instruments in the hands of economic saboteurs. Furthermore, we call the attention of the indefatigable National Security Adviser, the top security brass, and their respective formations to the urgent need to safeguard these critical national assets. Any attack on them is, without question, an attack on the future of our nation.”

    NANS stated that it would not stand idly while “a few individuals attempt to destroy the Dangote Petroleum Refinery, a facility that has already become a beacon of employment and a hub of knowledge transfer for countless Nigerian graduates.”

    To this end, it called on the federal government to do everything possible to protect the Dangote Refinery and forestall any situation that may pose the risk of fuel scarcity.

    “The Dangote Refinery has contributed immensely to fuel production and distribution within the country, which in turn has eased the burden on Nigerians and undoubtedly spurred economic growth,” it stated.

    The post DSS Brokers Fresh Truce Between NUPENG, Dangote Refinery appeared first on THISDAYLIVE.

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    *NANS urges FG to protect refinery Emmanuel Addeh and Onyebuchi Ezigbo in Abuja The Department of State Services (DSS) has again waded into the labour dispute between the Dangote Refinery
    The post DSS Brokers Fresh Truce Between NUPENG, Dangote Refinery appeared first on THISDAYLIVE.

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