Otunba Adebayo Christopher Alao-Akala, a former Governor of Oyo State, is dead.
Details of his death are sketchy but sources close to the politician confirmed the tragic incident to SunriseNigeria.
The politician, who had been battling terminal ailment for a while, died in his Ogbomoso country home, on Wednesday morning, according to sources.
A top source in the All Progressives Congress (APC) who confirmed his death to Daily Trust on Wednesday morning, said he died in his room.
“It is true that Oga is dead. He died in the early hours of Wednesday in his room in Ogbomoso. He was full of life last night. In fact, I head he was playing with his children before he went to bed. We are in a mourning mood now,” he said.
Akala was the governor of the state between 2007 and 2011.
Born on June 3, 1950, at Ogbomoso in the Ogbomoso North Local Government Area of Oyo State, Alao-Akala had his elementary school at Osupa Baptist Day School, Ogbomoso before proceeding to Kamina Barracks Middle School, 5th Battalion of Infantry in Tamale, Ghana.
This is the third known death of a prominent Ogbomosho native in a month.
On December 12, 2021, Oba Oladunni Oyewumi, the Soun of Ogbomoso, passed on.
On January 8, 2022, Prof Taibat Danmole, his daughter who was a lecturer at the Lagos State University (LASU), also died.
The deceased, who was a professor of education was married to another university don, Prof. Hakeem Danmole, who is the Dean College of Humanities and Social Sciences at the Al-Hikmah University, Ilorin
Operatives of the Economic and Financial Crimes Commission have arrested one Olawole Sunday, a suspected internet fraudster, accused of purchasing bank account details from individuals to perpetrate financial crimes.
According to a statement on Monday by the EFCC’s head of Media and Publicity, Dele Oyewale, Sunday’s fraudulent scheme involved recruiting young individuals to open multiple bank accounts.
Oyewale alleged that Sunday paid them between N25,000 and N50,000 for each account and collected their full banking details, including Automated Teller Machine cards.
He said trouble began when Sunday allegedly used the account details of one Uyi Eghosa to defraud an unsuspecting victim of N2m under the pretence of engaging in forex
Oyewale said Eghosa was arrested and, during interrogation, claimed ignorance of the fraudulent use of his account.
He added that Eghosa told investigators that he handed over his account details and ATM card to Sunday in exchange for a N25,000 payment.
He said, “Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested one Olawole Sunday, a suspected fraudster who specialised in buying bank accounts’ details from individuals with which he defrauds unsuspecting members of the public.
“Sunday’s modus operandi involved encouraging young people to open multiple bank accounts, pay them either N25,000 or N50,000 for each account and collect their bank details, including Automated Teller Machine cards.
“Sunday allegedly employed the account details of one Uyi Eghosa to defraud a petitioner of the sum of N2 million under the guise of trading in forex. The account owner, Eghosa, was arrested, and his disclosure that he was unaware that his account was used in defrauding members of the public led to Sunday’s arrest.”
Oyewale added that Sunday, upon his arrest, he confessed to the crime and would be charged to court as soon as investigations were completed.
* NGX ends the week positive as market capitalization gains N45 billion
The NGX All-Share Index (ASI) posted a modest 2.66% gain in Q1 2025, closing at 105,660.64 points. This marks a sharp contrast to the 39.84% return recorded in the same period last year.
However, despite the broad market’s tepid performance, several listed companies delivered outstanding returns, significantly outperforming the index.
Nairametrics tracked the market and compiled a list of the top 10 best-performing stocks in Q1 2025 based on share price gains among companies with a market capitalization above N50 billion.
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While small- and mid-cap stocks such as SCOA Nigeria, Chellaram Plc, Livestock Feeds, NNFM, SMURFIT, UPDC, Mutual Benefits, and The Initiates led in percentage gains, the list below highlights the top gainers within the N50 billion+ market cap category.
PZ CUSSON +52.67% YtD PZ Cussons posted a 52.67% gain in Q1 2025, ranking it the 5th best-performing stock among companies with a market capitalization above N50 billion.
The company is currently the 40th most valuable stock on the NGX, with a market capitalization of N133 billion. However, it ranks 66th in trading activity over the past three months, indicating it’s not among the most frequently traded stocks on the exchange.
Over the period, it recorded a total volume of 71 million shares, valued at N1.95 billion.
This level of investor activity suggests moderate liquidity, meaning the stock is not extremely active in daily trading but still sees a fair amount of interest.
BETA GLASS + 53.58% YtD Beta Glass Company is currently the 53rd most valuable stock on the NGX, with a market capitalization of N59.9 billion.
Its share price gained 53.58% in Q1 2025, making it the 4th best-performing stock among companies with a market capitalization above N50 billion and the 13th overall on the NGX for the quarter. This is a notable improvement from its 20% year-to-date return in the same period last year.
With a beta of just 0.045, Beta Glass is considered a low-volatility, defensive stock, meaning it tends to remain stable even during turbulent market conditions. In practical terms, if the market moves by 1%, Beta Glass is expected to move by only 0.045%.
Despite its traditionally low volatility, the stock has rallied strongly, suggesting that the price surge is driven by company-specific factors rather than broad market trends.
Its 2024 audited financials showed a clear acceleration in performance, outpacing the company’s 5-year compound annual growth rate (CAGR).
PRESCO 65.25% Presco Plc recorded a 65.25% share price appreciation in the first quarter of 2025, ranking it 3rd among the companies with over N50 billion market capitalization. Presco Plc is currently the 22nd most valuable stock on the NGX, with a market capitalization of N785 billion.
Last year, the share price gained 146%, and 45% has already been achieved in Q1, suggesting that it is on course to sustain or even surpass its 2024 share price performance.
However, this may depend on certain critical success factors. Presco’s share price trading liquidity suggests a moderate but not too strong liquidity. Over the past three months, it has traded a total of 26.6 million shares valued at N17.7 billion and ranked the 86th most traded stock on the NGX.
The company is yet to release its 2024 audited results, but its unaudited results indicate very strong results. Profit before tax grew by more than 156%, while earnings per share grew by 217% fueling expectation of increased dividend, given that the company paid N26.30 from earnings per share of N32.88 in 2023.
UPDC +86.79% YtD UPDC Plc is currently the 55th most valuable stock on the NGX with a market capitalization of N58.3 billion, which is about 0.088% of the Nigerian Stock Exchange equity market.
As of end of Q1 2025, the share price has gained 86.79% ranking it the second best amongst companies with over N50 billion in market capitalization.
It has since then improved, returning 97.5% to close at N3.14, ranking it the fourth best-performing stock on the NGX in terms of share price appreciation.
In the past three months, UPDC has traded a total volume of 354 million shares valued at N953 million, ranking it the 27th most traded stock on the NGX. This suggests good liquidity that can make it easier for investors to enter and exit, which is very important.
Another possible good traction for the stock is the company’s recent impressive financial performance. Profit before tax grew by 378% to N1.82 billion compared to the N380 million in 2023.
HONYFLOUR +96.03% YTD Honeywell Flour Mill began the year at N6.30 and surged 96.03% YTD, closing at N12.35 on March 28, 2025, ranking as the 5th best-performing stock on the NGX.
The stock has shown relatively strong trading liquidity, with 399 million shares traded, valued at N4.35 billion, making it the 25th most traded stock.
With a beta of 0.42, the stock’s rally appears less correlated to the broader market, suggesting that company-specific factors are driving its gains.
The company’s nine-month results (December 2024) showed a strong turnaround, shifting from an N8.8 billion pre-tax loss to a N12.283 billion pre-tax profit, while revenue also surged 123% to N277 billion.
Last year, the stock returned 94.88%, and with its Q1 2025 performance, it remains on course. However, sustaining investor confidence will be key to maintaining the rally.
Others making up the top ten list include
NASCON +46.57%YtD NAHCO +45.28% YTD SKYWAY +39.01% UNILEVER +28.17% YTD NEM +23.29% YTD The NGX has experienced mixed performance in Q1 2025, with the All-Share Index showing a modest increase.
However, several stocks have outperformed the market, showing impressive gains and investor confidence.
Investors will need to assess ongoing performance and market dynamics to determine whether these rallies can be sustained in the long term.
The family of the late Chief Edwin Kiagbodo Clark has announced that the elder statesman will be laid to rest on May 13, 2025.
The announcement was made on Saturday by his eldest son, Penaowei Clark, during a media briefing held at Kiagbodo, their hometown in Burutu Local Government Area of Delta State.
Penaowei, who flew in from the United States, said: “As you all know, our father passed on February 17, exactly 48 days ago. We are here today to announce that his burial will take place on May 13, 2025.” He added that a full burial programme will be shared soon with the public
