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UNEMPLOYMENT: FG to pay youth unemployment benefits, sets up consumer credit programme

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The Federal Government on Monday said it would extend its social security payments net to graduates with qualifications from NCE and upwards.

 

Minister of Finance and Coordinating Minister of the Economy, Wale Edun

 

Addressing journalists after the Federal Executive Council meeting on Monday, the minister of finance and coordinating minister of the economy, Wale Edun, disclosed that the programme would see unemployed Nigerian youths being paid stipends.

 

 

“At this period of heightened food prices, Mr. President has committed to doing all that can be done to assist in giving purchasing power to the poorest and in that line.

 

 

“He has committed and instructed that the Social Security unemployment programme be devised, particularly to cater for the youth, for the unemployed graduates, as well as the society as a whole.

 

 

“So, we have coming, in the nearest future, an unemployment benefit for the young unemployed, in particular,” the Minister announced.

Similarly, Edun said the FG will urgently establish a consumer credit scheme to alleviate the pains of economic adjustment.

 

 

He explained that the Chief of Staff to the President, Femi Gbajabiamila, will lead a committee that includes the Minister of Budget and Economic Planning, the Attorney-General of the Federation and himself, the Coordinating Minister of the Economy.

“There is coming a social consumer credit programme. By making consumer credit available, goods become more affordable, the economy even gets a chance to revive faster, because people have purchasing power that allows them to order goods, products,” he stated.

 

 

Edun also spoke on the review implemented by the Special Presidential panel on the National Social Investment Programme, which has submitted a preliminary report to the president.

 

 

He noted that the president gave the highlights to the Council meeting noting that what was done was “a review of the existing mechanisms, a review of the existing programmes, and where there have been successes, such as the 400,000 beneficiaries of the GEEP programme.”

 

 

He added, “So, the direct payments to 12 million households comprising 60 million Nigerians is to resume immediately with the important proviso that every beneficiary will be identified by their national identity number and the bank verification number.

 

 

“Therefore, payments will be made into bank accounts or mobile money wallets. So, that whether it is before or after, there is verification of the identity of beneficiaries.

 

 

“Each person that receives 25,000 Naira for a total of three months will be identifiable, even after they have received the money, it will be clear who it went to and when it went to them. And that is the big change that has allowed Mr. president to approve the restart of that direct payments to beneficiaries programme.”

 

 

On his part, the Minister of Communications and Digital Economy, Dr Bosun Tijjani, explained that beneficiaries would be vetted through their Bank Verification Number and National Identity Numbers to avoid multiple payouts to one individual.

 

 

He said, “One of the initial moves that we’re making is leveraging the existing dataset that we have on our people. As you know, the BVN is well known to be extremely credible. NIN on the other side, which is now the most popular data identity system for Nigeriansm, is also to a largest and credible, and it covers quite a significant number of people as well.

 

 

“And what we’re looking to do here is the triangulation of this data set to ensure that not only are we using the register that has been properly populated, but that we also do proper verification of every individual that will benefit from that social investment programme, which means we will get commitment to ensuring that no one is paid twice, because you have to be properly IDed before you can benefit from that programme.”

 

 

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NDLEA Busts Nigeria-Mexico Drug Syndicate, Seizes ₦480bn Drugs in Ogun

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The National Drug Law Enforcement Agency has dismantled a transnational methamphetamine production syndicate jointly operated by a Nigerian drug cartel and Mexican collaborators, leading to the arrest of 10 suspects.

 

Also, illicit drugs and chemicals valued at over N480bn were recovered during the operation.

The Chairman and Chief Executive Officer of the NDLEA, Brig. Gen. Buba Marwa (retd.), disclosed this on Wednesday during a media briefing at the agency’s headquarters in Abuja.

 

Marwa said the operation, carried out by operatives of the agency’s Special Operations Unit, led to the discovery and shutdown of what he described as the biggest clandestine methamphetamine laboratory ever uncovered in Nigeria.

According to him, the laboratory was hidden in Abidagba forest in Ijebu East Local Government Area of Ogun State and was being operated by the Anochili Innocent Drug Trafficking Organisation.

He said the coordinated operation was conducted simultaneously in Ogun and Lagos states on Saturday, May 16, 2026, following months of intelligence gathering.

Marwa said, “Through a clinical, simultaneous operation executed by the elite operatives of our Special Operations Unit, we have successfully dismantled a sophisticated, transnational methamphetamine production syndicate run jointly by a Nigerian drug cartel and their Mexican counterparts.

“This network did not just traffic drugs; they were actively manufacturing industrial-scale quantities of highly lethal illicit substances right on our soil.”

He disclosed that seven members of the cartel were arrested at the forest laboratory, including three Mexican nationals allegedly brought into Nigeria to produce methamphetamine.

Marwa said the arrested Mexicans were identified as Martinez Felix Nemecto, 46; Jesus López Valles, 40; and Torrero Juan Carlos, 51.

According to him, Nigerian suspects apprehended at the site included Nwankwo Sunday Christian, 41; Igwe Abuchi Remijus, 42; Ifeanyichukwu Chibuike Joshua, 23; and Egwuonwu Uchenna Victor, 38.

Marwa added that another tactical team arrested the alleged kingpin of the cartel, Anochili Innocent, at his residence located at No. 8 Tafawa Balewa Street, Golf Estate, Lakowe, Lekki, Lagos.

According to him, a search of the residence led to the recovery of the passports and mobile phones of the arrested Mexican nationals, linking the suspect directly to their importation and activities in Nigeria.

He further revealed that follow-up operations on May 18 led to the arrest of another suspect, Kingsley Orike Omonughwa, 44, at another property linked to the cartel in Mayfair Estate, Lakowe, Lekki.

The NDLEA boss said operatives also raided the residence of another syndicate member, Emeka Nwobum, which allegedly served as the cartel’s stash house.

He said the total number of suspects arrested in connection with the syndicate had risen to 10, comprising the alleged baron, three Mexican nationals, and six Nigerian collaborators.

Marwa stated that the operation led to the recovery of 2,419.48 kilograms of methamphetamine and precursor chemicals.

“The operation yielded a massive 2,419.48 kilograms of chemical materials, including highly toxic, volatile, and crystallised methamphetamine worth $362,922,000 in the international market. This translates to over N480bn,” he said.

“Also recovered from the cartel include: a Toyota Tacoma vehicle used for operations at the clandestine meth laboratory, and a Toyota Highlander seized from the kingpin’s residence.

“To put this in perspective, the 2,419.48 kilograms of finished and liquid methamphetamine seized represents millions of street doses that would have flooded our local communities and international markets, causing untold destruction, psychosis, and violence,” he said.

Marwa warned that the NDLEA would continue to target drug cartels and their collaborators across the country.

 

“We are fully aware of the shifting tactics of these cartels, including the disturbing trend of hiring South American cartel specialists to set up production factories in our rural communities,” he said.

He urged Nigerians to remain vigilant and report suspicious activities in their communities, noting that the clandestine laboratory in Ogun operated under the cover of a regular farm.

This is came days after the operatives of the NNDLEA, Edo State Command, destroyed two cannabis farms in Ago Forest, Orhionmwon Local Government Area of the state.

The state commander, Mitchell Ofoyeju, in a statement on Monday, said the cannabis plantations had a yield of 1,388.42kg.

He added that four suspected drug traffickers were also arrested in the past one week.

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Togo Grants Visa-Free Entry To African Nationals

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The government of Togo has announced the removal of visa requirements for citizens of all African countries visiting the country for short stays of up to 30 days.

 

The announcement was made on Tuesday in a statement issued by Togo’s Ministry of Security through its official X (formerly Twitter) handle.

According to the ministry, the policy is aimed at strengthening African integration and promoting the free movement of people across the continent.

Under the new arrangement, African nationals holding valid passports will be permitted to enter Togo without a visa for visits not exceeding 30 days.

“Togo takes a historic step in strengthening African integration. Henceforth, all nationals of African states holding a valid national passport may enter Togolese territory without a visa, for a stay of up to 30 days,” the statement said.

It added that the reform reflects the commitment of the country’s leadership to making Togo a hub of openness, mobility and cooperation within Africa.

“Through this major reform, the President of the Council reaffirms his commitment to making Togo a space of openness, mobility, opportunities, and cooperation at the heart of the African continent,” it added.

However, travellers will still be required to complete an online travel declaration on the official government platform at least 24 hours before arrival to obtain a travel clearance slip.

The ministry said the policy reinforces Togo’s dedication to regional integration and stronger diplomatic and economic ties among African nations.

The decision follows similar visa-free initiatives adopted by countries such as Rwanda.

In a related development, the Nigeria government has also begun implementing a 30-day visa exemption policy for Rwandan nationals entering the country.

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Wema Bank Announces Closing Date for One-Day MD/CEO Children’s Day Initiative

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As the deadline of May 20, 2026, fast approaches, Wema Bank has announced the last call for submissions for children and teens interested in participating in becoming MD/CEO of Wema Bank for one day.

 

Launched in May 2025 as part of Wema Bank’s 80th anniversary celebration, the One-Day MD/CEO initiative was introduced by Wema Bank to commemorate Children’s Day in a uniquely unprecedented manner. Inspired by the Bank’s 80th anniversary theme “80 Years of Impact, A Future of Possibilities”, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.

As 12-year-old Chiderije Mbah emerged winner, the Wema Bank One-Day MD/CEO initiative dominated the conversation on May 27, 2025, with children across Nigeria inspired to put in the work towards a successful future and parents commending the Bank’s consistent commitment to empowering children and helping them build the right future. This year, 2026, the Wema Bank One-Day MD/CEO initiative has returned on a larger scale.

For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of Managing Director/CEO of Wema Bank, for a day. The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.

To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges winner and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day.

Both parents and teens are encouraged to hurry and make their submissions now as entry closes in less than two days, specifically on Wednesday, May 20, 2026.

More details on the Bank’s social media platforms @wemabank

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