All Posts in "Month: November 2025"

SEC mandates operators to register instruments by January

SEC

The Securities and Exchange Commission has directed all Capital Market Operators to declare their compliance status and ensure that every tradable instrument under their management is fully registered in line with the Investments and Securities Act 2025 by January 2026.

The Director-General of SEC, Emomotimi Agama, issued the directive on Wednesday at the Commission’s Journalists’ Academy 2025 held in Lagos. The event had the theme: “The ISA 2025 and the Future of Nigeria’s Capital Market: Innovation, Protection and Growth.”

Agama, represented by the Commissioner of Operations, Bola Ajomale, said the new Act provides a stronger regulatory foundation for Nigeria’s capital market and places clear responsibilities on operators to align with updated standards.

He said anyone offering a tradable instrument must register with the Commission and complete the required process within the stipulated period.

“If we get this right, ISA 2025 will serve as the powerful foundation for the capital market Nigeria needs and deserves: deep, efficient, innovative and globally competitive. The ISA 2025 is more than a replacement for the 2007 Act. It is a forward-looking instrument designed to reposition Nigeria’s capital market for a rapidly changing world,” he said.

According to him, the Act strengthens investor protection, empowers market operators and enhances the SEC’s ability to ensure transparent and fair market practices.

Agama noted that the reform became necessary due to the rise of digital trading and fintech, adding that the ISA 2025 aligns Nigeria’s capital market regulation with global best practices while addressing local challenges and systemic risks.

“One of the most transformative aspects of the ISA 2025 is the clarity it brings to the mandate of the Securities and Exchange Commission. For the first time, the Act explicitly sets out the regulatory objectives, functions and powers of the Commission, including acting in the public interest, protecting investors, maintaining fair and transparent markets, preventing unlawful practices, reducing systemic risk and supporting capital formation,” he added.

According to him, this clarity strengthens regulatory authority and enhances institutional accountability.

He added that it also eliminates ambiguities that previously complicated enforcement actions and improves the alignment of the SEC’s work with national economic goals.

Agama said the Act expands the Commission’s investigative capacity, not only over regulated entities but also over unrelated third parties where necessary for enforcement.

“This closes a major loophole that hindered previous investigations into market abuse and complex financial schemes. Such provisions signal that the SEC is no longer limited by outdated definitions or narrow supervisory boundaries. The regulator now has modern tools to protect the integrity of the market,” he said.

Agama said the Act represents a collective resolve to modernise the capital market architecture.

He noted that several factors made the reform necessary: the rise of digital trading, fintech platforms and virtual assets; the inadequacies of the previous Act in addressing Ponzi schemes, systemic risks and new financing structures; the need for stronger alignment with IOSCO standards; and the imperative to deepen Nigeria’s capital market as a tool for national development.

Dan Poster by — November 28, 2025 in Business 0
Osun 2026: APC may face defeat without viable candidate – Omisore

Former National Secretary of the All Progressives Congress, APC, Senator Iyiola Omisore, has revealed that the party must present a strong candidate ahead of the August 8, 2026 poll, else it will lose.

Omisore made this revelation while speaking during consultations in Osogbo and Olorunda local government areas on Wednesday.

He also demanded that the party consider a candidate who had held an elective position to run for the 2026 guber race.

He also revealed that he was urged by stakeholders to contest the 2026 Osun governorship election.

He stated that stakeholders prevailed on him to shatter the incumbent’s ill-governance by joining the race.

Omisore said, “If we fail to give a viable aspirant the ticket, we will fail and lose. We must consider an aspirant who had held an elective position to run for 2026 guber race.”

“We must not leave the party ticket on the free will of an individual to be the governor, it will be impossible. The governorship of a state must be a collective testimony across the board of stakeholders,” he added.

He warned that, “Governorship seat should not be given based on friendship, you should not hire your friend for a job he can’t deliver. All of us who are contesting this race are all brothers.”

The former APC scribe called on party members to support him at the primary slated for December 13, 2025.

He said, “I want to charge all of us that on 13th of December 2025, we should troop out to show love to me by choosing me as the candidate of the party for the 2026 guber race.”

The Consultation Coordinator, Ajibola Famurewa, noted the level of acceptance encountered during visits to various local governments.

Famurewa said, “Every local government we have visited, they showed us love and acceptance. I am confident that Senator Omisore will emerge as the flag bearer of APC on December 13th 2025.”

Dan Poster by — November 27, 2025 in Politics 0
Abductions: Nigeria Govt making deals with insurgents, can’t deny it — ADC

The National Publicity Secretary of the African Democratic Congress, ADC, Bolaji Abdullahi, has said the Federal Government cannot deny that it is making deals with insurgents in a bid to free abducted victims.

Abdullahi made this allegation on Wednesday when he appeared as a guest in an interview on ‘Politics Today’, a programme on Channels Television.

He comment was in reaction to the release of 24 schoolgirls who were abducted by bandits during an attack on the Government Girls Comprehensive Secondary School, GGCSS, Maga in Kebbi State.

“What is clear to us is that the government is making deals with kidnappers, the government is making deals with insurgents.

“Perhaps because there may be different considerations, but perhaps because they want a quick win, they want something to celebrate, then they will not hesitate to make the kind of negotiation or deals that they are doing.

“They are doing deals with insurgents. They can’t deny that,” Abdullahi said.

Dan Poster by — November 27, 2025 in Politics 0
Insecurity: Adopt my security model – Ganduje tells Kano govt

Former governor of Kano State and ex-National Chairman of the All Progressives Congress, APC, Dr. Abdullahi Umar Ganduje, has urged the current Governor Abba Yusuf-led administration to learn from the security strategies implemented during his tenure (2015–2023) to address rising insecurity in some border communities.

Ganduje highlighted that his administration’s security framework included strengthened local vigilance networks, multi-layered community policing, robust intelligence sharing, close coordination with security agencies, and development-focused crime prevention measures.

He said these strategies helped curb rural banditry, deter urban crime, and maintain relative stability across the state.

In a statement released by Muhammad Garba, his former Chief of Staff and ex-Commissioner for Information and Internal Affairs, Ganduje expressed concern over the “worrisome” security situation in Kano.

He described recent attacks in Shanono and Tsanyawa Local Government Areas, which left three people dead and several women and children kidnapped, as “tragic, painful, and deeply distressing.”

Ganduje extended condolences to the families and residents affected, stressing that the emotional and psychological trauma from the attacks requires urgent and coordinated action.

He called on the Kano State government to adopt proactive, intelligence-driven, and community-based security measures to prevent further incidents.

The former APC chairman also praised the responses of Niger, Kwara, Kebbi, and other states in handling similar security challenges, highlighting their effective interventions, cross-agency cooperation, and strong community engagement.

He appealed to affected communities to remain calm yet vigilant, cooperate with security agencies, and provide timely information to prevent further attacks.

Ganduje emphasized that tackling insecurity requires collective responsibility among citizens, traditional institutions, government authorities, and security agencies.

Dan Poster by — November 27, 2025 in General News 0
Kebbi school attack: Senate orders investigation into military withdrawal

The Senate has directed its joint committee on security to investigate the sudden withdrawal of military personnel from Government Girls Secondary School, Maga, in Kebbi State, shortly before bandits launched an attack.

The committee is expected to report its findings within two weeks.

The resolution followed a motion moved by Senate Deputy Leader, Lola Ashiru during Wednesday’s plenary, titled “Urgent Need to Address Escalating Insecurity in Kwara, Kebbi and Niger: Call for Immediate and Comprehensive Federal Intervention.”

The upper chamber also called for a probe into the circumstances surrounding the killing of Brig-Gen. Musa Uba and resolved to dissolve its standing committees on National Security, Intelligence, and the Air Force, with a view to reconstituting them.

The Senate leadership was instructed to meet President Bola Tinubu to brief him on the resolutions.

The Senate observed a one-minute silence in memory of the victims of the attack.

Deputy Senate President Jibrin Barau noted that insecurity across the country had increased following statements by former US President Donald Trump suggesting possible foreign military intervention to address the perceived genocide of Christians in Nigeria.

“Since then, the spate of terrorist activities has increased, showing that those behind these heinous crimes do not love our country,” he said, urging the deployment of technology to counter such threats.

Senate Leader Opeyemi Bamidele added, “What is important is that many kidnapped persons from Kwara, Kebbi, and Niger have regained their freedom. At what cost, many Nigerians wonder.

While some claim the government negotiated for their release, the official position is that no ransom was paid.

Dan Poster by — November 27, 2025 in General News 0
Alleged $14.8m fraud: Sylva asks EFCC for appearance date

Former Minister of State for Petroleum, Timipre SylvaFormer Minister of State for Petroleum, Chief Timipre Sylva, has written to the Economic and Financial Crimes Commission seeking a mutually agreed date to honour its invitation over an alleged $14.8m fraud.

Sylva, in a letter he personally signed and addressed to the EFCC Chairman, Ola Olukoyede, faulted the commission’s move to declare him wanted, saying he had never shunned any lawful invitation.

The letter, dated November 24 and acknowledged by the EFCC on November 26, stated that he was currently receiving urgent medical care for a “life-threatening condition.”

He said he was consulting his medical team to determine whether he could temporarily suspend treatment to appear before the commission.

“In view of the foregoing, I most humbly request that a mutually agreed date be set, subject to medical clearance, to enable me appear physically and formally,” he wrote.

“I trust that the objective of your invitation is not to unalive, but to genuinely investigate an alleged crime. For only the living can appropriately, fully and responsibly respond to any allegation, which I firmly and respectfully deny.”

Sylva recalled recent events that had put him, his family, and associates under pressure, beginning with “an unverified accusation” linking him to an alleged plot to undermine the authority of President Bola Ahmed Tinubu.

He noted that the matter escalated into a military raid on his Abuja residence, during which several persons, including his drivers, security aides and domestic staff, were arrested and remain in detention.

“While still grappling with the emotional and psychological strain of those events, I was on Monday, November 10, 2025, publicly declared wanted by your esteemed agency over an alleged $14.8m fraud,” he said.

Sylva insisted he had previously honoured an EFCC invitation in December 2024 in relation to the same matter, after which he was granted administrative bail on self-recognition and told he would be contacted again if needed.

“To the best of my knowledge and belief, no further invitation or correspondence was issued to me thereafter,” he wrote, saying it was “deeply surprising and profoundly unsettling” to learn through a public announcement that he had been declared wanted.

He also rejected claims that he jumped bail, stating that “no such incident occurred, nor was any such bail condition ever violated.”

Sylva said the recent actions against him may create “a public impression of political witch-hunt,” adding that he has appeared to be “a target since the beginning of this administration.”

Sylva, a chieftain of the All Progressives Congress, has recently been linked to a rumoured aborted military coup.

His Abuja home was raided by operatives believed to be from military intelligence, and he was subsequently declared wanted by the EFCC.

During the raid, his younger brother, Paga, who serves as his Special Assistant on Domestic Affairs, and his driver were reportedly arrested.

His Special Assistant on Media and Publicity, Julius Bokoru, confirmed the raid but denied Sylva’s involvement in any coup plot.

He accused unnamed politicians of orchestrating mischief because they view the former governor as a threat to their ambitions.

Bokoru also criticised the EFCC for declaring Sylva wanted, saying he was never invited before the announcement.

Dan Poster by — November 27, 2025 in General News 0
Insecurity: Tinubu demands herders surrender guns

President Bola TinubuPresident Bola Tinubu has called on herders to end open grazing, surrender all illegal weapons, and transition to ranching as part of a new national strategy to resolve the long-standing farmer–herder conflict.

In a statement on Wednesday, the President said the Federal Government is prioritising sustainable solutions to the violent confrontations between herders and farming communities, clashes that have fueled instability across several northern and central states.

The admonition comes amid a surge in school kidnappings in Niger, Kebbi, and other parts of the country in the past week, as well as ongoing farmer–herder violence in the North Central region that has left scores dead in recent months.

“Ranching is now the path forward for sustainable livestock farming and national harmony,” Tinubu said.

He urged all herder associations to seize the opportunity, end open grazing, and surrender illegal weapons.

The President also called on mosques and churches, especially in vulnerable areas, to coordinate with security agencies to ensure protection during prayers and gatherings.

Highlighting the creation of the Ministry of Livestock as a key part of the administration’s long-term plan, Tinubu urged herder associations to collaborate with the ministry, modernise livestock production, and embrace ranch-based operations.

He noted that farmer–herder clashes have consistently fuelled insecurity, from land disputes to deadly confrontations, particularly in the Middle Belt.

The new livestock policy, he said, aims to protect both farmers and herders while easing land-use tensions.

To support this transition, Tinubu added that the Federal Government, in partnership with state governments, will provide frameworks for ranch establishment and implement measures to curb illegal arms circulation.

Meanwhile, the Edo State Government announced on Wednesday that it had intensified security across the state following threats from a self-proclaimed bandit in the Edo Central Senatorial District.

In a statement by the Chief Press Secretary to Governor Monday Okpebholo, Fred Itua, the government assured residents of adequate protection.

The governor convened a high-level security meeting in response to a viral video showing the alleged bandit threatening communities around Ekpoma and adjoining areas.

The Edo State Special Security Squad recently arrested two suspected kidnappers, Anthony Fedigha Ebimienwei and Luke Disemoh, in the Egbai Community, Ovia North-East LGA, following “high-level, intelligence-driven surveillance.”

The state government urged citizens to remain calm, vigilant, and cooperative, warning against spreading misinformation or unverified content. Governor Okpebholo reaffirmed his administration’s commitment to ensuring the safety of residents, commuters, and investors.

Dan Poster by — November 27, 2025 in General News 0
Money supply climbs to N119tn in October

CBN Governor, Olayemi Cardoso. Photo: CBN / XNigeria’s broad money supply rose to N119.04tn in October 2025 from N117.78tn in September, according to new data published by the Central Bank of Nigeria. The increase amounted to N1.25tn, equivalent to 1.06 per cent, reversing the slowdown recorded a month earlier.

Year-on-year, M3 (broad money supply) expanded by N11.04tn or 10.22 per cent from N107.99tn in October 2024, reflecting a continued build-up of liquidity in the financial system despite a tight monetary environment.

The rise in October followed the Monetary Policy Committee’s decision in September 2025 to cut the Monetary Policy Rate by 50 basis points to 27 per cent, the first rate reduction since 2020. The cut came as inflation began to moderate and foreign exchange conditions improved.

Broad money supply, which includes narrow money, quasi-money, and other liquid assets, strengthened in the month that followed, indicating a higher availability of cash and near-cash balances, even as the CBN cautiously eased without fuelling renewed inflationary pressure.

A significant driver of the increase was a jump in net domestic assets. NDA rose to N84.23tn in October from N76.12tn in September, a difference of N8.11tn or 10.65 per cent within one month. The rise reflects a surge in domestic credit conditions, including higher government borrowing and increased banking system claims on the private sector.

This sharp expansion outweighed a notable drop in net foreign assets, which declined from N41.66tn in September to N34.80tn in October. The fall of N6.86tn represents a 16.45 per cent month-on-month contraction, and highlights renewed external pressures, despite NFA still standing N14.01tn higher than the same period in 2024.

Money supply measured as M2 also grew modestly from N117.77tn in September to N119.03tn in October, an increase of N1.25tn or 1.06 per cent.

Compared with October 2024, M2 rose by N11.04tn or 10.22 per cent. M2 includes narrow money and quasi-money, such as savings and term deposits, and reflects the financial balances most commonly used for day-to-day transactions and short-term decisions.

Narrow money, or M1, showed a smaller change, growing from N39.11tn in September to N39.35tn in October, an increase of N239bn or 0.61 per cent. Year-on-year, M1 rose by N4.56tn or 13.12 per cent.

The October figures show that the major push to liquidity came from the domestic side of the economy rather than from foreign inflows, with NDA rising sharply at a time when foreign assets were weakening.

The CBN’s decision in November 2025 to hold the MPR at 27 per cent underscored concerns about managing liquidity while protecting the disinflation gains achieved so far.

CBN Governor, Olayemi Cardoso, announced the decision on Tuesday in Abuja at the end of the committee’s 303rd meeting, where all twelve members were present. Cardoso said the MPC voted by a majority “to maintain the monetary policy stance,” adding that members were convinced that the economy required more time for earlier decisions to filter through.

The committee also adjusted the corridor around the benchmark rate to +50/-450 basis points and retained the Cash Reserve Ratio at 45 per cent for deposit money banks, 16 per cent for merchant banks, and 75 per cent for non-TSA public-sector deposits.

The liquidity ratio was kept unchanged at 30 per cent. According to the communiqué, the stance was underpinned by the need “to sustain the progress made so far towards achieving low and stable inflation,” adding that future policy choices would remain “evidence-based and data-driven.”

The CBN said inflation had decelerated for seven consecutive months, falling from 34 per cent a year ago to 16.05 per cent in October. Food inflation slowed to 13.12 per cent from 16.87 per cent, while core inflation moderated to 18.69 per cent.

The bank attributed the decline to sustained monetary tightening, improved FX market stability, higher capital inflows, and relative calm in fuel prices.

At the press briefing, Cardoso argued that price stability was only the first step. “The issue of macro stability and the gains of macro stability, to my mind, is the core of the matter,” he said. “To the extent that we have accomplished stability, stability is a very fundamental process in the road to growth,” he added.

Dan Poster by — November 27, 2025 in Business 0
Innovation shines as FCMB hosts agritech hackathon

FCMBFirst City Monument Bank, in partnership with the Dutch Entrepreneurial Development Bank and HeaveVentures, has successfully concluded the FCMB AgriTech Hackathon 2025.

The initiative is designed to accelerate innovation, sustainability, and digital transformation in Nigeria’s agricultural value chain, according to a statement from the bank on Wednesday.

The event brought together seven startups from across the agricultural ecosystem to present tech-driven solutions to sector challenges. After multiple rounds of pitching and mentorship, Qiqi Farms emerged the overall winner, while Farm Monitor and Tuplant placed second and third, respectively. Llyon Farms, AgriX, Freshfare, and PalmShops each received a N1 million consolation grant for their contributions.

Speaking at the event, the Divisional Head, Agribusiness and Non-Oil Exports, FCMB, Kudzai Gumunyu, said, “This hackathon reflects FCMB’s commitment to nurturing innovation and supporting the next generation of agritech entrepreneurs. By connecting startups to funding, mentorship, and markets, we are helping transform Nigeria’s agricultural sector into a digitally driven, globally competitive industry.”

Also commenting, CEO, HeaveVentures, Abiodun Lawal, stated that, “this hackathon demonstrates the power of collaboration between financial institutions and the tech ecosystem. We are proud to see startups developing solutions that can redefine productivity, sustainability, and food security across Africa”.

The FCMB AgriTech Hackathon affirms the institution’s commitment to strengthening Nigeria’s food security and digital economy by backing innovation, partnering with key players, and widening access to sustainable finance.

Dan Poster by — November 27, 2025 in Business 0
AfDB approves $500m loan for Nigeria’s energy reforms

Sidi-Ould-Tah-636×361

The African Development Bank Group has announced the approval of a fresh $500m loan to the Federal Government of Nigeria to finance the second phase of the Economic Governance and Energy Transition Support Programme, aimed at strengthening fiscal policies, driving energy sector reforms, and promoting climate action.

A statement issued by the Communication and External Relations Department official, Alexis Adélé, on Wednesday said the AfDB Board of Directors approved the loan during a meeting in Abidjan and that it covers fiscal years 2024 and 2025.

The statement read, “The Board of Directors of the African Development Bank Group, meeting in Abidjan, approved a $500m loan to the Government of the Federal Republic of Nigeria to finance the second phase of the Economic Governance and Energy Transition Support Programme. The policy-based operation is for fiscal years 2024 and 2025.”

The programme will target three key strategic areas to drive Nigeria’s economic and energy reforms. First, it aims to deepen fiscal policy reforms by strengthening public financial management systems and enhancing the transparency and efficiency of government spending.

Secondly, the initiative will focus on energy sector reform, seeking to accelerate improvements in the power engineering sector. The goal is to reduce energy poverty, expand access to electricity, enhance sector governance, and attract greater private investment.

The programme also aims to advance energy transition and climate action by supporting the implementation of Nigeria’s energy transition plan. It will promote climate change adaptation and mitigation efforts and introduce energy-efficiency standards for electrical appliances across the country.

Speaking on the programme, the Director-General of the African Development Bank’s Nigeria Office, Abdul Kamara, said the second phase aims to stimulate inclusive growth by fast-tracking structural reforms in the energy sector while supporting progressive fiscal policy reforms to boost non-oil revenues and expand fiscal space.

“The second phase of the programme aims to stimulate inclusive growth by accelerating structural reforms in the energy sector, while supporting progressive reforms of fiscal policy to boost non-oil revenues and expand fiscal space. The new phase will consolidate and build on the achievements of the first phase,” he added.

The programme will also update Nigeria’s Nationally Determined Contribution for the 2026–2030 period, aligning the country’s climate commitments with global targets.

Direct beneficiaries include key government agencies such as the Federal Ministries of Power, Finance, and Environment, the Federal Inland Revenue Service, the Nigerian Electricity Regulatory Commission, the Debt Management Office, the Office of the Auditor General, and the National Climate Change Council of Nigeria.

Private sector actors are expected to benefit from an improved investment climate and expanded opportunities in energy projects across states, as the programme aims to foster public-private partnerships.

As of 31 October 2025, the AfDB’s active portfolio in Nigeria included 52 projects with a total commitment of $5.1bn. This latest support underscores the AfDB’s continued commitment to Nigeria’s economic governance reforms, sustainable energy transition, and efforts to create a more resilient and inclusive economy.

Dan Poster by — November 27, 2025 in Business 0