TROOPS ARREST SUSPECTED KIDNAPPER, RECOVER AK-47 RIFLE ALONG BENIN–SAPELE ROAD. (PHOTO). #PRESS RELEASE

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 TROOPS ARREST SUSPECTED KIDNAPPER, RECOVER AK-47 RIFLE ALONG BENIN–SAPELE ROAD Troops of 4 Brigade Nigerian Army, Operation WABAIZIGAN, have arrested a suspected kidnapper and recovered an AK-47 rifle and ammunition during a targeted operation along the Benin–Sapele Road in Ikpoba-Okha LGA of Edo State. The suspect, identified as Olamide Oyeniyi, was arrested on 12 September 2026 at Obaretin Community by troops conducting operations to disrupt criminal activities and safeguard major transportation routes within the area. Items recovered from the suspect include one AK-47 rifle, one magazine and eight rounds of 7.62mm Special ammunition. Other items recovered are one Tecno mobile phone, two bags, one torchlight, one music box and assorted charms. The suspect and recovered items are currently in troops’ custody for further investigation, while efforts are ongoing to establish his links to other criminal elements and determine his possible involvement in kidnapping and related activi...
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NAIRA FALLS TO N1, 660/$ IN PARALLEL MARKET. (PHOTO).

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  Naira Falls to N1,660/$ in Parallel Market


The Nigerian Naira has further depreciated in the parallel market, trading at N1,660 to the US dollar. This development reflects increasing pressure on the local currency amidst ongoing economic challenges.  


The decline is attributed to a combination of factors, including heightened demand for foreign exchange, reduced dollar inflows, and limited intervention from the Central Bank of Nigeria (CBN).  


Market analysts warn that the persistent depreciation could further impact inflation rates, cost of living, and the purchasing power of citizens, urging swift policy measures to stabilize the currency.

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