All Posts in "Dan Poster"

Shift Towards Sustainable Finance Redefining Investment Decisions – SEC DG

How Sustainable Finance Shift Redefining Investment Decisions – SEC DG - TheFact Daily

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has said that the global shift towards sustainable finance is redefining investment decisions, corporate governance and risk management, adding that Nigeria’s capital market must adapt to remain competitive and relevant.

 

Speaking at the 2025 Annual Conference of the Chartered Institute of Stockbrokers in Abuja, Dr. Agama described sustainability as a global imperative that goes beyond technology and ethics, noting that environmental, social and governance (ESG) considerations are now shaping responsible investment and capital allocation across the world.

“In line with this, the Commission has taken bold steps to align our market with global sustainability standards. Through initiatives such as the adoption of the International Sustainability Standards Board (ISSB) framework, the Green Bond Programme, and our collaboration with development partners, we are laying the groundwork for a financial system that supports the transition of our country to a low-carbon, inclusive economy”, he stated.

He stressed that stockbrokers and other market operators have a critical role to play by promoting sustainable investment products, advising issuers on ESG disclosures and guiding investors towards responsible assets.

According to him, the SEC and the Chartered Institute of Stockbrokers (CIS) share a common vision of building a capital market that mobilises savings for productive investment, creates jobs and drives economic diversification.

 

He pointed out that the SEC’s “partnership with the Institute in areas such as professional certification, investor education, financial literacy, and policy advocacy continues to yield positive results.

 

“Yet, we must do even more. The task ahead is to ensure that the capital market becomes central to Nigeria’s economic transformation agenda — a market that finances infrastructure, empowers MSMEs, supports green and digital enterprises, and contributes meaningfully to the realization of a trillion-dollar economy.”

 

He commended the resilience and professionalism of market operators despite challenging conditions, saying it reflects the enduring strength of the Nigerian capital market and its potential to transform the nation’s economic landscape.

 

“With the world changing fast, the Nigerian capital market must not only keep pace but lead by example,” he added. “Let us therefore recommit to innovation that empowers, ethics that endure, and sustainability that delivers long-term prosperity for all.”

Dan Poster by — October 23, 2025 in Business 0
Tinubu Govt failing woefully in all sectors – SDP’s Adebayo

The 2023 Social Democratic Party, SDP, presidential candidate, Adewole Adebayo, says that the current administration of President Bola Tinubu has failed Nigerians in every aspect of governance.

He alleged that the Tinubu administration has neglected key sectors such as security, education, justice, and poverty alleviation.

“I thought they would recognise that the country needs security and ensure safety across Nigeria, but they haven’t done much.

“New terror groups are emerging, communities in the Middle Belt are turning against each other, and Boko Haram remains undefeated. Today, you’re more likely to see officials taking selfies with terrorists than fighting them,” Adebayo said.

Weighing in on the economy, the former presidential candidate blasted the government’s handling of poverty and development.

He criticised the administration’s student loan policy, noting that poor infrastructure and recurring strikes undermine its purpose.

Adebayo also condemned the recent presidential pardons, describing them as a fiasco.

He urged Nigerians to reject any attempt to re-elect the Tinubu administration, warning that a second term would compound the nation’s disgrace.

Dan Poster by — October 22, 2025 in Politics 0
2027: Opposition can’t have merger, campaign hasn’t started yet – Fashola

Former governor of Lagos State, Babatunde Fashola has declared that it would be impossible for the opposition political parties to have merger ahead of the 2027 general elections.

Speaking at a stakeholders meeting of the All Progressives Congress, APC in Lagos, the former governor said only the ruling party has successfully conducted a merger that ousted the then ruling party, the Peoples Democratic Party.

According to him, those who stood in opposition to the APC when it emerged, are “now trying to form a coalition”, stating that they “are seeing how difficult it is”.

“Those who stood in opposition against our emergence are now trying to form a coalition, and they are seeing how difficult it is to form a merger that produces APC.

“History will tell you that that is the only merger that has occurred in Nigeria’s political history. They said it can’t happen but it happened. The opposition can’t do their own”, he said.

The former governor also said, though members of the ruling party are already warming up ahead of the next election, the campaign is yet to start.

He pointed out that the electoral law stipulated when the campaign is expected to start before the election.

He said, “I know that people are already warming up but the campaign has not started yet. The electoral law stipulates when the campaign should start. Our party is organizing because we are progressives.

“If they ask you why we said we are progressive, it’s because we are determined to improve the human condition”.

Dan Poster by — October 22, 2025 in Politics 0
FUOYE blasts SSANU over ‘false claims’ against VC

The management of the Federal University Oye-Ekiti, FUOYE, has cautioned the national leadership of the Senior Staff Association of Nigerian Universities, SSANU, led by Muhammad Haruna Ibrahim, against what it described as “political blackmail and malicious propaganda” targeted at the institution’s Vice-Chancellor, Prof. Abayomi Fasina.

The warning followed a recent press briefing held in Ado-Ekiti on Monday, where SSANU leaders accused Prof. Fasina of plotting to influence the forthcoming Ekiti governorship election.

The union had also urged the Federal Government to remove him from office to “restore peace” on campus.

In a statement issued on Tuesday by the Vice-Chancellor’s Special Adviser on Media, Dr Wole Balogun, FUOYE’s management dismissed the allegations as a “desperate and unrelenting smear campaign.”

The institution alleged that the union’s leadership had embarked on a coordinated attempt to tarnish the Vice-Chancellor’s image after earlier failed efforts to implicate him in baseless claims of sexual harassment.

“The latest accusations are nothing but lies from the pit of hell. It is unfortunate that rather than uphold the integrity expected of university staff, some SSANU members have chosen to trade in falsehood and blackmail,” the statement read.

The university also alleged that certain leaders of FUOYE’s SSANU chapter were themselves guilty of gross misconduct, violence, and indiscipline, citing a recent incident in which they allegedly attempted to disrupt a peaceful staff meeting convened on October 14, 2025, by the Pro-Chancellor and Chairman of Council, Senator Ndoma Egba (SAN).

FUOYE reiterated its commitment to maintaining peace and academic excellence on campus, warning that it would not hesitate to take disciplinary action against anyone found undermining the university’s stability and reputation.

Dan Poster by — October 22, 2025 in General News 0
FreeNnamdiKanu protest completely ill-timed – Senior lawyer

A Senior Advocate of Nigeria, Oba Maduabuchi, has said that the FreeNnamdiKanu protest was completely ill-timed.

Maduabuchi made this statement on Tuesday while responding to questions in an interview on ‘Prime Time’, a programme on Arise Television monitored by DAILY POST.

“The Nnamdi Kanu’s question to us, Igbos, is a very sensitive issue. As an Igbo man, I want them to release him even yesterday, because according to them, he is a freedom fighter.

“But as a lawyer, when you have handed over your proceedings, you are no longer entitled to resort to self-help. What they are doing now is simply self-help, which is not allowed by law.

“I think the protest is completely ill-timed. Now the Federal Government has closed its case.

“The matter is pending in court, and the protest is asking the federal government to interfere and direct a judge to free Nnamdi Kanu,” he said.

Dan Poster by — October 22, 2025 in General News 0
Bauchi Gov creates 13 new emirates, over 100 district heads

Governor Bala Mohammed of Bauchi State has signed into law the Chieftaincy Appointment and Deposition Law, establishing 13 new emirates and over 111 district heads across the state.

The newly created emirates include Burra, Duguri, Dambam, Bununu, Lere, Darazo, Jama’a, Lame, Toro, Ari, Warji, Giade, and Gamawa.

The governor also signed the repeal of the Sayawa Chiefdom and the enactment of the Zaar Chiefdom Law, with its headquarters at Mhrim Namchi in Tafawa Balewa Local Government Area.

During the signing ceremony at Government House, Bauchi, on Tuesday, Mohammed warned against politicizing or obstructing the implementation of the laws.

“This administration will not tolerate any attempt to undermine, obstruct, or politicize these reforms. Anyone found inciting division or disrupting public peace will face the full weight of the law,” he stated.

The governor also assented to the Local Government Pension Contributory Scheme, pledging to clear the backlog of pensions and gratuities owed to retired local government workers. He said the new scheme would promote transparency and accountability in pension administration.

In addition, Mohammed signed the 2025 Appropriation Supplementary Act to support ongoing developmental projects.

He directed the Attorney General and Secretary to the State Government to gazette and distribute the laws for immediate implementation, stressing that the reforms were aimed at deepening governance, strengthening traditional institutions, and promoting peace and inclusion across Bauchi State.

Dan Poster by — October 22, 2025 in General News 0
Tension as DSS alerts army on planned coordinated ISWAP attacks in two states

The Department of State Services has disclosed that intelligence revealed that the daredevil terrorists and members of the Islamic State of West Africa Province, ISWAP, planned to attack some communities in Ondo and Kogi States.

The secret police made this public in an alert contained in a confidential letter to the Nigerian Army.

The letter which was signed by one H. I. Kana on behalf of the State Director of Security and addressed to the Commander of the 32 Artillery Brigade, Akure, warned of “imminent attacks” by the bloodthirsty terrorists.

According to DSS, the communities where the terrorists planned to attack in Ondo State include, Oyin-Akoko and Eriti-Akoko in Akoko North-West Local Government Area, as well as Owo town, headquarters of Owo Local Government Area.

“Intelligence confirmed plans by members of the Islamic State of West Africa Province, ISWAP to carry out coordinated attacks on communities in Ondo and Kogi States anytime soon,” the letter read in part.

“It was further gathered that the group has commenced surveillance on potential soft targets in the above-mentioned locations.

“Consequently, there is a need to scale up the level of security alertness in the various communities to forestall any untoward situation”, part of the letter read.

Dan Poster by — October 22, 2025 in General News 0
NBA condemns Kano court order forcing TikTokers to marry

The Nigerian Bar Association, NBA, has condemned a reported order by a Kano Magistrate’s Court allegedly directing two popular TikTok content creators, Idris Mai Wushirya and Basira Yar Guda, to marry within 60 days.

The clips, which showed the pair engaging in romantic gestures, were described by authorities as contrary to the moral and religious values upheld in the state.

In a statement, NBA President Mazi Afam Osigwe described the order as a “grave misunderstanding of the limits of judicial authority under the Nigerian Constitution” and an infringement on the fundamental rights of the individuals involved.

“Marriage, by its very nature, is a voluntary union between consenting adults. It cannot be imposed as a form of punishment, moral correction, or judicial remedy,” the NBA said.

The association emphasized that no court in Nigeria has the power to compel marriage, calling the order unconstitutional, unlawful, and a violation of the rights to personal liberty, dignity, and privacy guaranteed under the 1999 Constitution (as amended).

The NBA also called for an immediate review of the alleged order and urged judicial authorities to prevent similar incidents in the future. Its Citizens’ Liberties Committee and Women’s Forum were tasked with monitoring the case to safeguard constitutional rights.

“The courts must remain the bastion of justice and protectors of constitutional rights, not instruments for enforcing social conformity or moral compulsion,” the NBA added.

Dan Poster by — October 22, 2025 in General News 0
Reps move to intervene in PENGASSAN–Dangote refinery dispute

The Reps Green ChamberThe House of Representatives on Tuesday resolved to intervene in the recent face-off between members of the Petroleum and Natural Gas Senior Staff Association of Nigeria and the Dangote Refinery, which had disrupted petroleum product distribution nationwide.

The resolution of the House followed the consideration and adoption of a motion of urgent public importance co-sponsored by Kano and Sokoto lawmakers, Alhassan Doguwa and Abdussamad Dasuki, respectively, at Tuesday’s plenary.

In the motion titled, ‘We need to protect private investment from adversarial unionism,’ the lawmakers drew the attention of their colleagues to the significance of the Dangote Refinery, describing it as the largest private petroleum refinery in Africa.

The face-off between PENGASSAN and the Dangote Refinery led to an industrial action which commenced on September 29, 2025, disrupting the operations at the $20bn refinery

It also led to a disruption in Nigeria’s crude oil production, with a reported daily loss of approximately 200,000 barrels over three days.

The disruption worsened the petroleum supply situation across the country, resulting in scarcity and long queues at filling stations in several states, resulting in severe hardship for millions of Nigerians.

Speaking on the motion, Doguwa, who represents the Doguwa/Tudun Wada Federal Constituency, Kano State, stressed the need to protect the Dangote Refinery given its strategic significance to the nation’s economy.

He said, “The House is aware that the Dangote Refinery is a strategic private investment of immense national importance, with the potential to guarantee energy security, reduce import dependency, generate employment, and conserve foreign exchange.

“We are aware that the Dangote Refinery operates within a Free Trade Zone and therefore falls under the regulatory framework of the Nigeria Export Processing Zones Authority, particularly Section 18(5) of the Nigeria Export Processing Zones Act, which clearly states that ‘Employment in the free zone shall be governed by rules and regulations made by the Authority and not subject to the provisions of any enactments relating to employment matters.’

“The House is concerned that actions by labour unions that disregard the legal protections conferred on Free Zones under the NEPZA Act not only constitute a breach of law but also create a hostile investment environment that may deter future local and foreign investors.

“We are worried that if private investments of strategic national importance are continually subjected to unlawful disruptions by adversarial unionism, Nigeria risks not only the failure of key economic assets but also the erosion of investor confidence necessary for national growth and development.”

In his contribution, the member representing Chibok/Damboa/Gwoza Federal Constituency, Ahmad Jaha, urged the House to tread carefully, adding that the call for a probe as prayed by the motion was ill-timed.

Following the adoption of the motion, the House urged its leadership to broker peace between the two parties in the interest of the nation.

It also urged the Federal Ministries of Labour and Employment, Industry, Trade and Investment, and Justice to “jointly develop and implement a national framework or set of policies to safeguard private investments of strategic national importance from adversarial and unlawful union actions.”

It further charged the Federal Ministry of Justice and NEPZA to ensure full enforcement and compliance with the provisions of Section 18(5) of the Nigeria Export Processing Zones Act in all relevant Free Zone operations.

Dan Poster by — October 22, 2025 in Business 0
Insurance sector posts 49.3% rise in gross premium to N1.2tn

National-Insurance-Commission-NAICOMThe Nigerian insurance industry has recorded a 49.3 per cent growth in Gross Premium Written to N1.21tn at the end of the second quarter of 2025.

This was disclosed in the second quarter Bulletin of the Insurance Market Performance put together by the Research & Statistics Department of the National Insurance Commission.

The first quarter of 2025, the insurance industry posted a gross premium written of N769.2bn across both life and non-life businesses, marking the highest premium ever generated in the first quarter of any year.

In the period under review, the report indicated that Gross Premium Written stood at N1.21tn, indicating a 49.3 per cent growth rate compared to the same period of the prior year and 57.8 per cent quarter-on-quarter.

NAICOM said, “The insurance market achieved a gross premium written of N1,213.7bn, a notable performance amid macroeconomic challenges in the country. Data collected during the period indicates a growth rate of 49.3 per cent, marking a substantial increase even at a period when the national output is still growing at a single digit.”

In terms of market structure, the non-life segment of the industry retained its dominance, as the segment contributed 67.2 per cent to the total premium pool, similar to its performance from the corresponding quarter of 2024.

Analysis of the non-life market showed that the Oil & Gas portfolio remained the major contributor, accounting for 31.2 per cent of the total non-life premiums during the quarter.

This was followed by fire insurance with 18.9 per cent and motor insurance at 15.8 per cent. Meanwhile, the General Accident, Miscellaneous, Marine and Aviation portfolios contributed 8.9 per cent, 8.8 per cent and 7.4 per cent, respectively.

Conversely, the life insurance segment accounted for 32.8 per cent of all premiums generated during the period. The distribution within the Life segment showed that Annuity was the major contributor at 41.8 per cent, followed by Group Life at 29.5 per cent, and Individual Life accounted for the remaining 28.7 per cent of the premium.

The industry’s robust performance extended to its total asset base. The insurance industry recorded total assets of about N4.4tn in the second quarter of 2025, which represents a 19.2 per cent increase compared to the N2.3tnreported during the same period in 2024. The total assets were divided between the non-life business, which stood at N2.49tn, and the life business, which accounted for N1.91tn.

In terms of profitability, the NAICOM report said that during the second quarter of 2025, the market average of the net loss ratio stood at 59.4 per cent, higher than the 55.4 per cent reported in the prior corresponding period.

The net loss ratio in the non-life segment stood at 60.5 per cent, while the life business recorded 57.1 per cent in the same period under review. Overall, the average net loss ratio is above the global comfort range of 40–55 per cent, but not excessively high.

This data suggests that insurers are fairly responsive in paying claims but could face profitability pressure if expenses are high. However, the life segment is healthier and more stable than the non-life segment, leaving more room for profitability.

“In conclusion, the average net loss ratio of 59.4 per cent reflects that the industry is claims responsive but with a tight margin. Notwithstanding the relatively favourable market average, eleven insurers accounted for the reported net loss ratio during the review period. These underwriters recorded net loss ratios of 100 per cent or higher,” the regulator said.

Providing a projection on the industry, NAICOM said, “From the market statistical insights of the second quarter of 2025, it is apparent that the insurance industry has demonstrated growth, profitability and resilience amidst operational and macroeconomic challenges. Furthermore, in cognisance of the ongoing regulatory initiatives, including sector-wide digitisation, risk-based supervision, and recapitalisation, among other measures, the industry outlook could be adjudged as decidedly positive.”

Dan Poster by — October 22, 2025 in Business 0