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Kola Aluko’s Super Yacht, Galactica Star Sold!

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At last the The 65-metre Galactica Star super yacht owned by Oil mogul, Kola Aluko has been sold for whopping $42million

The wonderful piece of craftsmanship, according to Yachtharbour.com was sold on July 25, 2019.

In April 2019, the vessel was offered for sale in a sealed bid arrangement, proposed by the U.S. Department of Justice and the Federal Republic of Nigeria and approved by U.S. federal court.

The sale followed a court-ordered seizure of the yacht’s owner’s assets due to possible connections to an ongoing Nigerian oil corruption scandal, triggered by the Panama Papers investigation. The latter refers to 11.5 million leaked encrypted confidential documents that were the property of Panama-based law firm Mossack Fonseca, exposing the network of more than 214,000 tax havens.

It was gathered that Fraser representing the seller and Burgess represented the buyer.

The yacht was custom-built by Dutch yard Heesen in 2013 and is seconds only to the builder’s 70-metre Galactica Super Nova in terms of Length Overall (LOA).

She features exterior styling by Omega Architects, engineering by Van Oossanen & Associates, finished by interiors from the boards of Bannenberg & Rowell.

The US and Nigerian governments received Federal Court approval to sell the arrested superyacht due to high maintenance and dockage fees, estimating the combined cost at around $170,000 per month. Managed by Fraser, the vessel was listed at $42,000,000.

Galactica Star accommodates up to 12 guests overnight in 6 cabins, comprising a master suite, 1 VIP stateroom, and 4 double cabins. She is also capable of carrying up to 13 crew onboard to ensure a relaxed luxury yacht experience.

The most alluring feature about the vessel is what goes on below the waterline. Van Ossaanen Naval Architects successfully created a yacht that cruises 30% more efficiently than a conventional round-bilged motor yacht in this size range.

Powered by 2 MTU 5,592 HP diesel engines and propelled by twin screw propellers, Galactica Star is capable of a top speed of 27 knots, and comfortably cruises at 24 knots.

With her 90,000 fuel tanks she has a maximum range of 4,200 nautical miles at 14 knots. Her water tanks store around 30,000 litres of fresh water.

The yacht used to be popular for charter among celebrities. It was once rented by American music industry power couple, Jay Z and Beyonce for a holiday cruise at $900,000 a week to celebrate Beyoncé 32nd birthday in 2013.

The yacht is registered in the Cayman Islands and flies under the British flag. It comes with its own helipad, outdoor Jacuzzi and plenty of space for dancing and dining.

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FCCPC Uncovers Patterns of Price Manipulation by Local Airlines

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The Federal Competition and Consumer Protection Commission (FCCPC) has uncovered patterns of price manipulation perpetrated by some local airlines during the last festive season.

The findings are contained in the interim report released on Thursday by the Commission’s department of Surveillance and Investigations, according to a statement signed by the Director, Corporate Affairs, Ondaje Ijagwu, and made available to The Boss.

Recall that the Commission announced an industry-wide investigation earlier in January.

The forensic exercise benefitted from data collated by the Commission from airlines operating local routes in the country.

The report compares domestic airline pricing from the December 2025 festive period with post-peak January 2026 fare levels.

Preliminary analysis indicates that fares recorded during the December peak were materially higher than those observed in the post-peak period across several routes despite relative stability in critical operating variables like fuel price, government taxes and foreign exchange.

The differences observed in fares therefore appear to reflect airlines’ arbitrary pricing decisions, including yield management and capacity allocation, rather than any variation in regulatory fees.

Route-level analysis shows that higher fares coincided with periods of reduced seat availability during predictable seasonal demand peaks. On some high density routes, peak fares were clustered within relatively narrow ranges across several operators.

For instance, on certain corridors like Abuja-Port Harcourt, peak fares were several times higher than corresponding post-peak levels. On selected routes, the difference in the price of a single ticket reached approximately ₦405,000. Median fares across the sampled routes also rose markedly during the festive window when compared with post-peak benchmarks.

However, the interim report recognises that seasonal demand pressures, scheduling constraints and fleet utilisation may also affect pricing during peak travel periods.

These factors remain under consideration as part of the Commission’s ongoing review.

Commenting on the release of the interim report, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the review is part of the Commission’s statutory responsibility to promote competitive markets and safeguard consumers.

“This assessment is intended to provide clarity on pricing behaviour during predictable peak travel periods. The Commission’s role is not to disrupt legitimate commercial activity, but to ensure that market outcomes remain consistent with competition and consumer protection principles under the law,” Mr. Bello said.

He noted that the Commission is conducting further structural and route-level analysis before reaching any conclusions.

“It is important to emphasise that this is an interim report. Our next action will be dictated by full facts established at the end of the review exercise.  Then, the Commission will decide whether any regulatory guidance, engagement or enforcement steps are necessary, strictly in accordance with the law,” he said.

The report identifies the possible relevance of Sections 59, 72, 107, 108, 124 and 127 of the Federal Competition and Consumer Protection Act 2018, which respectively address the prohibition of agreements in restraint of competition, the prohibition of abuse of a dominant position, the offence of price-fixing, conspiracy to commit offences under the Act, the right to fair dealings, and the prohibition of unfair, unreasonable or unjust contract terms.

Meanwhile, Mr. Bello announced that foreign airlines will come under FCCPC radar after the ongoing review of local airlines in view of widespread complaints of exploitative fares they allegedly charge Nigerians on certain routes compared to fares in neighbouring countries that are of equal distance.

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Many Killled, Houses Torched As Terrorists Unleash Deadly Attacks on Adamawa Communities

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At least 25 ⁠people were killed and several houses torched after ​gunmen attacked two villages late on Tuesday in Adamawa State, northeast ‌Nigeria, residents and the ‌state governor said on Wednesday.

The attackers struck Kirchinga in Madagali ⁠district ⁠and Garaha in neighbouring Hong, two villages on the edge ​of the Sambisa Forest where Boko Haram and Islamic State West Africa Province (ISWAP) operate.

The twin raids highlight the enduring insecurity in Nigeria’s ​northeast, the epicentre of a 17-year Islamist insurgency, despite years of ⁠military ⁠campaigns.

Abubakar Lawan Kanuri, the ⁠village ​head of Kirchinga, told Reuters the attackers arrived on Tuesday evening ​dressed in military uniforms ⁠that initially led residents to mistake them for soldiers on patrol. He said 18 bodies were recovered after the gunmen swept through the community.

In Garaha, seven people were killed when ⁠gunmen on more than 50 motorcycles stormed the village and attacked ⁠a nearby military base, said resident Musa Isa, who added he “narrowly escaped.”

They advanced from several directions and hit the military base, killing three soldiers. Four fleeing residents were shot, and a school was also burned. Many villagers have since fled to Mubi, the nearest big town, Isa said.

Adamawa State Governor Ahmadu Umaru Fintiri condemned the attacks ⁠as “cowardly acts of terrorism” and vowed not to “let terrorists undermine our efforts to restore peace and stability,” according to a statement from his spokesman.

Source: usnews.com

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Gunmen Attack Edo Palace, Kill Chief, Abduct Two Daughters

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Gunmen have killed a high-ranking palace chief in Iduah Kingdom, Esan West Local Government Area of Edo State, and abducted two of his daughters.

The victim, Chief Jimah Jacob Ogboi, was reportedly attacked at his residence on Monday night.

Sources said the assailants stormed the house and shot the chief at close range. His wife was also attacked with machetes and other dangerous weapons, leaving her seriously injured.

One of the deceased’s sons, Lucky, said he had stepped out to purchase an item when the attack occurred.

“I received a call that my father had been shot. When I returned home, I met my mother in a critical condition, and my two sisters had been taken away,” he said.

A community source disclosed that the incident prompted an emergency meeting of elders to deliberate on possible steps toward securing the release of the abducted daughters and addressing the underlying causes of the attack.

The traditional ruler of the community, HRH Alhaji Amedu Momoh, appealed to the Edo State Government and security agencies to urgently intervene and strengthen security in the area.

“About four armed men went to the house of one of our chiefs. They shot him and abducted two of his daughters. The Nigerian Police and other security agencies have been here since the incident occurred,” he said.

“We need assistance in tackling security issues. The government should come to our aid. There had been relative calm in our land, but it appears the attackers have regrouped.”

The monarch also expressed concern over what he described as increasing attacks on farmlands by suspected herdsmen.

When contacted, the spokesperson for the Edo State Police Command, CSP Eno Ikoedem, confirmed the incident and said investigations had commenced.

She added that the Commissioner of Police, Monday Agbonika, was in Ekpoma, Edo Central, alongside other senior officers to address the security situation.

“I can confirm the incident. The Commissioner of Police and other top officers are currently in the area to forestall further attacks. The police have launched an investigation into the killing and abduction,” she said.

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