Shareholders of the Central Securities Clearing System (CSCS) have expressed satisfaction with the company’s impressive financial performance and the declaration of a N1.76 dividend payment for the 2024 financial year.The shareholders expressed their satisfaction during the company’s 31st Annual General Meeting in Lagos, where the 2024 financial report was presented.

The shareholders commended the company’s management team for their dedication to driving growth and increasing returns on investment. Mr Boniface Okezie, Chairman of the Independent Shareholders Association of Nigeria, described the company’s financial result as excellent despite the economic headwinds.Okezie tasked the CSCS on extending its operations to other African countries, considering its status as the biggest security depository registrar in West Africa.He also commended the CSCS for being able to improve on curtailing fraud and forgery within the Nigerian Exchange Ltd.He advised on reducing costs, particularly those related to expenses incurred by the board.Also, Mrs Adetutu Shiyanbola, President of the Highly Favoured Shareholders Association of Nigeria, lauded the company’s 2024 financial performance.She noted that CSCS’s impressive performance, marked by a 44 per cent growth in the company’s operating income, a 24 per cent rise in its profit before tax, a 37 per cent increase in gross earnings, and a 22 per cent growth in total assets, showcased the company’s significant responsibility and stewardship.She encouraged the company to further enhance its gender balance policy, promoting greater diversity and inclusion within the organisation.A member of the Independent Shareholders Association of Nigeria, Mrs Juliet Mbaka, commended the CSCS for the dividend paid and urged the company to look toward improving it in the current year.Mbaka also urged the management of the company to consider giving some bonus to its shareholders.Responding, Mr Temi Popoola, Chairman of the Board of Directors for CSCS, said the board would look critically into increasing dividends in the coming years.He said one of the biggest projects the board was working on had to do with expanding the reach of the CSCS.He explained that the CSCS is also working on embracing the African Exchange Linkage Programme as a way to extend its operations.He said, “We are also taking intentional steps toward gender balance, embracing women with the right character and expertise on the board.”Also, Alhaji Haruna Jalo-Waziri, Managing Director of CSCS, attributed the high cost of operation of the company to inflation, adding that the company continues to work on optimising costs.He said the CSCS had achieved remarkable growth in combating cybercrime as it continues to invest hugely in cybersecurity infrastructure.“We are scaling up our cybersecurity infrastructure, and this is one of the reasons we are incurring more costs. We are building KPIs and engaging Artificial Intelligence.“Also, for our Corporate Social Responsibility, we are being strategic to embrace initiatives that, in turn, build our business,” he said. (NAN)

The Police command in Lagos State has detained a 25-year-old suspected ritualist for allegedly being in possession of human organs in Odomola community, Epe. Command spokesperson, CSP Benjamin Hundeyin, confirmed the arrest in a statement issued on Friday in Lagos. He said operatives from the Odo-Noforija Division apprehended the suspect on April 25 in the Epe area of the state.

The arrest followed credible information from members of the public about the suspect’s suspicious movements. Preliminary investigations revealed the suspect was transporting the organs from Edo State to a native doctor for money-making rituals. The recovered organs have been deposited at the General Hospital, Epe, for preservation. The case has been transferred to the Police command in Edo for further investigation and prosecution. Mr Olohundare Jimoh, the Commissioner of Police, commended the operatives and the vigilant Odomola community. He praised the swift police response and stressed the value of timely information sharing. The CP urged residents to stay alert and report any suspicious activity to the nearest police station. He assured the public of the command’s commitment to safety and the protection of lives and property across the state. (NAN)

Nigeria has withdrawn from the 2025 World Relays scheduled to take place in Guangzhou, China, citing delays in the issuance of visas to its athletes.The Athletics Federation of Nigeria (AFN) in a statement on Friday blamed China’s visa process for the withdrawal.The federation regretted that despite beginning the application process in February, “the embassy delayed till a last-minute visa issuance” making it impossible for the team to participate in the event.

“With deep regret, we, the AFN, announce our withdrawal from the World Relays following unacceptable visa delays by Chinese authorities. “ Despite our diligent efforts processing documentation since February, our athletes have faced numerous obstacles .“This includes embassy embarrassment to last-minute visa issuance that made competition attendance physically impossible. “The impact has been severe.“It has wasted training preparations, significant financial losses, lost qualification opportunities, and devastating psychological effects on our athletes,” AFN noted.The federation also lamented various documentation requested by the embassy noting that there were “poorly communicated”. “Chinese authorities frustrated our participation by claiming they didn’t have contact with their own Embassy in Washington and Abuja, also providing incorrect invitation letters and changing the application portal twice.“ Their requirement for a special “Verification Letter of Invitation” was poorly communicated and inconsistently applied while they demanded police reports and even bank statements from all participating athletes, coaches and officials. “We stand by our decision to withdraw as it became clear our team wouldn’t receive fair treatment or opportunity to compete,” the federation said.Team Nigeria comprising nine women and eight men, were scheduled to compete in four events: the men’s and women’s 4x100m, mixed 4x100m, and mixed 4x400m relays.The tournament is slated for Saturday and Sunday. (NAN)