General News
Electricity Workers Fret over Robbers, FG Dangles N384Bn
Workers of power holding company of Nigeria (PHCN) have expressed concern about their safety and security of family members in the event of government announcement preceding payment of their severance package.
The workers expression comes on the heels of government pronouncement that it would pay about N384 billion, part of their entitlements this June.
They fear it would attract kidnappers, armed robbers and other social miscreants to their domains.
Segun Afolorunso, chairman, Nigeria Union of Electricity Employees (NUEE), Eko Electricity Distribution (Zone chapter), expressed the sentiment at close door session between the workers union and Power Minister in Lagos at the weekend.
He noted that the electricity workers had met with various mishaps following previous government pronouncements on payment of disengagement entitlements. “
Some of our staff members were kidnapped by gunmen in Anambra state because of the money they were yet to collect,” Afolorunso enthused.
The workers union leader also stated that other workers who traveled from Lagos to Delta state were ambushed in their vehicle by robbers who demanded their share of the payments.
“Also, the bus that conveyed (some of) our members to Sapele, Delta was attacked by robbers who demanded for their own share of the money.
“The robbers collected the workers ATM cards. They told the workers that the aim was to enable them to collect their own share of the money when the workers are paid.” Consequently, he advised the government to exercise some restrain in announcing payment of their final disengagement funds.
“For the safety of the PHCN workers, I implore the government to keep the issue of our severance package secret so that we could plan how to invest the money,” he stated.
Prof. Chinedu Nebo, minister of Power, assured the workers government would pay their package as agreed and directly into their account in batches.
He however, advised the workers to invest the funds in their children’s education so that it would not look as if their children did not benefit from their suffering and hard labour.
“I want to urge all of you to ensure that when the severance package is paid into your account, you should plan on it and spend it wisely. The money should be spent meticulous and avoid unnecessary flamboyant spending that will attract robbers and wastages,’’ said the Power Minister.
Government had announced last week that it would pay the N384 billion severance package for disengaged PHCN workers this June.
Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.
Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.
The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.
The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.
U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.
Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.
A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.
Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.
The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.
Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.
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