Business
Police Parade 13 Cyber Crime Suspects, Recover N90m Drugs
The Lagos State Commissioner of Police, Mr Edgal Imohimi yesterday paraded 13 suspects arrested for cross border and cyber crime and recovered over N90m worth of drugs.
The CP, who was addressing journalists at the command, said the cross border crime suspects, all Beninois specialised in snatching exotic cars in Nigeria and driving it to Benin Republic to sell.
Imohimi, while narrating how a victim’s car was snatched by the gang at gun point, said that the victim had gone to use an Automated Teller Machine (ATM) when his Toyota Prado jeep was taken.
The commissioner said their exploit started on January 21 at Ajose Adeogun, Victoria Island, Lagos when the owner of a Toyota Prado jeep went to use a Zenith Bank ATM.
“After using the ATM, before he could drive off, the three hoodlums that had been stalking him forced him out of the car to the back seat and drove off.
“He was later stripped naked and dropped somewhere at Ikoyi while his car was driven away with mobile phones, a laptop computer and N45,000 cash.
“When the hoodlums got to Ikoyi, they sighted a couple in a Toyota Jeep buying barbecue at Southern Sun area. The hoodlums forcibly took control of the car and drove the victims away.
“The victims’ wife was later dropped at a junction before third mainland bridge the husband was dropped on third mainland bridge.
“After a careful analysis and undercover operations, on February 11, the group was intercepted at mile 2 while on a mission,” he said.
Imohinmi said an AK-47 rifle, 43 rounds of ammunitions, one locally made cut to size double barrel gun, six life cartridges, one licensed plate number and assorted charms were recovered from the hoodlums.
Our corrspondent reports that the suspects were paraded alongside a native doctor who specialised in preparing charms for the suspects.
In another development, six suspects who specialise in stealing mobile phones with intention to generate the user’s bank details and withdraw their money were also paraded by the police.
According to Imohimi, the suspects were arrested following reports on their activities in various parts of the state.
“On Feb. 7, at 6pm, one Mrs Kemi Benson had reported to the police at Egbeda that her sister’s phone was stolen at a birthday party.
“When the victim went for SIM card replacement, as soon as she inserted her Sim into her phone, she received a bank alert of N1.153m transferred from her account to other banks.
“After investigation, gangs who specialise in dispossessing victims of their mobile phone with the use of motorcycle were apprehended.
“The gang is made up of two groups. One specialises in snatching the mobile phone and sell to the other group to generate bank details and BVN to transfer money from the account,” he said.
The commissioner said disclosed that 10 laptops, one Infinix mobile phone and 10 SIM cards were recovered from the hoodlums.
He called on members of the public who had been victims of the cyber fraudsters especially those that had their phones stolen at Iyana-Ipaja, Iba, Festac and Alaba to come to the command.
NAN reports that 183 wraps of drugs suspected to be Marijuana, 129 wraps of substance suspected to be cocaine and bottled hard drugs worth over N90m were recovered at suspected criminals’ hideout at Akala.
The CP disclosed that the command was working on getting a court order to destroy the recovered drugs. (NAN)
Kolomoni Microfinance Bank has awarded grants to five female entrepreneurs to boost their businesses as part of its commitment to promoting women in business.
The initiative, organized to mark International Women’s Day, was themed “Accelerate Her Growth.”
According to the bank, the decision to support women was inspired by World Bank data, which shows that 41 percent of Nigeria’s micro-businesses are owned by women.
Delivering the keynote address, business strategist, Ebun Akinwale, emphasized that entrepreneurship requires resilience, creativity, and passion.
She illustrated this by recounting her own business challenges and highlighting the critical role passion plays in overcoming obstacles.
The event underscored Kolomoni’s mission to empower women and support small businesses in Nigeria.
Other speakers at the occasion were Odunayo Oyebolu, a seasoned entrepreneur; Victori Ajiboye, a marketing strategist with global experience; and Simi Ojumu, a finance expert.
The beneficiaries said the financial support was a validation of their hard work and a boost of confidence towards scaling through in their businesses.
The winners were selected after sharing their entrepreneurial journeys and presenting business proposals for financial assistance from the bank.
The 8th edition of the Nigeria Small and Medium Enterprises (SMEs) Summit and Awards (Nigeria SMEAwards) is set to take place in Lagos for the first time in its history, marking a significant milestone for this prestigious event.
Endorsed by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the annual awards celebrate the entrepreneurial spirit driving Nigeria’s economy.
The visionary convener of NigeriaSMEAwards 2025, Adedayo Olalekan, said, “Governors from Zamfara, Sokoto, Ebonyi, Borno, Enugu, Ekiti, Benue, and Kaduna States have all implemented transformative initiatives that have greatly benefitted local enterprises.
“Their contributions will serve as a beacon of inspiration for the nation.”
Speaking at a recent press conference in Lagos, Olalekan emphasised that the event would introduce a fresh and unique approach, moving away from tradition.
“Despite economic challenges, Nigerians continue to show an unwavering commitment to progress”, he said.
He noted that the awards will not only honor outstanding individuals, but also recognise the critical role state governments play in nurturing vibrant SMEs.
“State governments have been instrumental in fostering a supportive environment for SMEs, which in turn benefits both the awardees and the larger economy.
“With major banks like Providus, Access, and First Banks competing for top honors, the 8th NigeriaSMEAwards promises to be a night of celebration, recognising exceptional contributions to Nigeria’s SME landscape”, Olalekan added.
Amid global challenges such as inflation, geopolitical instability, and the ongoing conflict in Ukraine, Nigerians continue to show remarkable resilience.
Their efforts, according to reports, have contributed to job creation, economic growth, and overall prosperity, with SMEs at the forefront of this success.
This year’s awards will recognise governors who have made significant strides in advancing the SME sector within their states.
Small and Medium Enterprises (SMEs) consultants in Rivers State have called on entrepreneurs to be focused and avoid distractions.
The experts, who were speaking on the recent developments about the change of leadership in the state, said entrepreneurs need to put more efforts in their businesses in order to break even in the present situation in Rivers State.
Speaking in a chat with The Tide, an international SMEs consultant, Amb. Larry Goodwill Ajiola, said the political moves is capable of distracting SMEs who are not grounded in their businesses, adding that “the serious minded business men and women would utilise the opportunity to increase their revenues”.
Amb Ajiola, who is the President and Chief Executive Officer (CEO) of Rumuomasi Co-operative and Credit Society Limited, Port Harcourt, said, “Rugged entrepreneurs look out for business opportunities in situations around them, whether good or bad”.
He reiterated that the loan facility given to 3,000 SMEs in the state revived and expanded businesses, adding that the empowered businesses should continue to push, no matter the situation.
“credit is a powerful tool for achieving financial security.
“We can only keep imagin the economic value that the over 3,000 MSMEs would add to the positive economic dynamics of Rivers State and the Local Government Areas in terms of Gross Domestic Prooduct (GDP), increased tax returns, employment creation, income distribution, and production of goods and services”, he said.
Another SMEs Expert, a business consultant and SMEs trainer, Mr. Chisom Sam-Orji, in his advice, noted that every SME in the state should realize that change is the only constant thing.
He said SMEs should also know that “tough times never last, but tough people do”, adding the need for every entrepreneur to stay focused on creating value and remain resilient.
“This is not the time to be distracted by every noise around your space, but to maximize every time you have to focus on the essentials and keep creating value.
“For some people, it may just be the time to diversify, create new products and services to serve a new or existing market. But this must be based on the facts available to you via research and market surveys”, he said.
The SMEs expert also said the present time in the life of an entrepreneur is a time to cut off unnecessary excesses that surround one’s business.
“Those extra costs that may hamper your growth in this season and beyond, and focus on just essentials.
“SMEs should find certain leverages that are available to aid their business growth. This could be in form of grants, knowledge, and other leverage tools.
“Collaboration is one big way to grow in this season. Finding ways to collaborate with like minds instead of competing could enable a product or service gain advantage in the market and beyond.
“They should also find ways to sustain and grow their customer relationship as this is key to sustaining business flow. They must seek new and efficient ways to serve their customers and gain their loyalty”, he stated.
He further called on every entrepreneur to keep building capacity and never take their eyes off their visions, adding the need to muster every courage it takes to keep building and moving forward.
Lilian Peters