NEWS
New Investment Act, Game Changer to Stimulate Economic Growth – SEC
By Tony Obiechina, Abuja
The Securities and Exchange Commission (SEC) said the Investments and Securities Act 2025 is a game changer that has the strong potential for stimulating growth for the Nigerian capital market and the economy.
Director General of the SEC, Dr.
Emomotimi Agama who stated this during an interview in Abuja on some of the highlights of the ISA 2025, said the new law is revolutionary in all respects as it provides the SEC the opportunity of retaining its signatory A status with the International Organization of Securities Commission.According to him, this is significant because it allows other countries to benchmark the Nigerian SEC and capital market with other jurisdictions which will drive friendly investments and investors into the Nigerian capital market and also expand the capital market reach in Nigeria.
The SEC DG said another highlight of the new law is the increasing opportunities available for raising capital in the Nigerian capital market as well as the inclusion of the regulation of online forex for which a lot of Nigerians are involved in and the introduction of legislation that speaks to digital assets regulation in Nigeria.
“This is huge because in the Nigerian population, the youths that are involved in this space are many, so providing clarity and providing legal framework and background to this is very essential for our growth. Beyond all of that we also have the Legal Entity Identifier being introduced into the Nigerian law which speaks to derivatives transactions.
“The commodities ecosystem is well featured in this law being able to provide regulation regarding the commodities ecosystem from the spot market onto the derivative market and the secondary market. We have also been able to remove by this law restrictions by states and local governments in their ability to raise capital and bring development to their states and of course municipal areas. So this for us is very important”, Agama noted.
The SEC Boss emphasized that the provisions of this law are so huge and fundamental in creating a dynamic, resilient and strong capital market that will help in the development of the nation’s economy and help in facilitating Mr. President’s agenda for a one trillion dollar economy
Dr. Agama stressed that beyond all of that, the essence of this law is actually to create a dynamic inclusive and resilient capital market for the economy adding that the Commission is committed to moving the capital market and the Nigerian economy forward.
He said, “The capital market is strong enough to provide the much needed funding needs for various sectors of the economy. It is one of the strongest you can think about, our ROI was one of the best in the world for last year. When you look at what the capital market has already done with the bank recapitalization which is still ongoing, you can agree with me that our market is strong.
“Today, the Nigerian capital market has been able to facilitate the raising of capital by banks to the tune of N2.4 trillion and still counting. This has never happened in the history of this country. Our responsibility is to facilitate growth, facilitate exchanges and to facilitate the movement of capital and that we have done successfully with this exercise. Other institutions are also coming to raise capital. The Ministry of Finance Incorporated recently raised N250 billion for housing facilitation in Nigeria.
“This tells you the capital market is resilient and it is showing in the activities that are happening in the capital market. In terms of market recapitalization, it has moved to over N65 trillion and that tells you that the capital market in Nigeria is moving forward” he stated.
The SEC DG also commended President Bola Ahmed Tinubu for his unwavering support and also expressed appreciation to the National Assembly as well as the Minister of Finance and the Minister of State Finance.
Troops of Operation Hadin Kai (OPHK) have repelled a deadly attack by ISWAP terrorists in Damboa, Borno, neutralising 21 insurgents and recovering a cache of arms and ammunition.
Capt. Reuben Kovangiya, Acting Deputy Director, Army Public Relations, Headquarters Theatre Command, confirmed this in a statement issued in Maiduguri on Friday.
Report saya that the attack, which occurred in the early hours of Friday, targeted troops of the 25 Task Force Brigade.
Daily Asset, however, reports that the soldiers, with the support of the Air Component of OPHK, engaged the terrorists in a fierce and prolonged firefight that lasted over two hours.
Kovangiya said the troops displayed gallantry and tactical superiority during the confrontation, forcing the terrorists to retreat in disarray, leaving behind more than 21 of their fighters who were neutralised during the engagement.
“The gallant troops, supported by Close Air Support, stood their ground and repelled the attack despite the ferocity of the enemy.
“The insurgents suffered devastating losses and were forced to flee,” he said.
The spokesman said that during the exchange of fire, an ammunition storage facility within the military formation was hit by a blast, but the situation was quickly brought under control.
He also confirmed that the troops recorded minor casualties.
“Following the mop-up and exploitation operation, the following weapons and ammunition were recovered:
“Two General Purpose Machine Guns (GPMG) three Rocket Propelled Grenade (RPG) tubes, one pump-action rifle, nine AK-47 rifles, three belts of PKT rounds, eight AK-47 magazines, seven RPG bombs, two boxes of 12.7mm x 99mm ammunition, one and a half box of PKT rounds and 20 pieces of 36 hand grenades,” Kovangiya said.
The spokesman said that the success of the operation was a clear demonstration of the effectiveness of joint land and air efforts in counterterrorism operations which further reaffirmed the Nigerian military’s resolve to restore peace in the North-east.
“The bravery and sacrifice of the troops remain a symbol of national pride.
“Their unwavering commitment to defeating insurgency and restoring peace in the region is commendable,” he said.(NAN)
Gov. Peter Mbah of Enugu State, on Friday, inaugurated the Enugu State Human Development Council at the Government House. He stressed that human capital remains the true wealth of any nation and a core priority of his administration. The Council is chaired by the Deputy Governor, Ifeanyi Ossai, and includes State Executive Council members and heads of MDAs.
Also represented are the legislature, local governments, traditional rulers, church leaders, and civil society organisations. Mbah explained the Council aligns with his government’s emphasis on human development and social investment. He urged the members to take the task seriously and work towards tangible outcomes. “One of our top priorities is eradicating poverty and reducing the poverty headcount to zero,” Mbah noted. He added that the government’s philosophy prioritises human capital over natural resources. “Our last two budgets allocated over 50 per cent to social services,” the governor stated. In his response, Ossai assured the governor of members’ commitment to the Council’s goals. He emphasised that all government initiatives — from schools to roads — are people-focused. “All our projects aim to improve lives, and the Council will help us track and measure progress,” Ossai said. (NAN)
The Academic Staff Union of Universities (ASUU) has urged the Federal Government to honour the 2009 FG/ASUU agreement or face a nationwide industrial action. ASUU President, Chris Piwuna, issued this warning during a news conference in Abuja on Friday. He stressed the importance of the government fulfilling its promises and addressing the worsening conditions in Nigerian universities.
According to Piwuna, nine critical issues remain unresolved, including the stalled renegotiation process since 2017. He mentioned withheld salaries from the 2022 strike and unpaid entitlements linked to the contentious Integrated Payroll and Personnel Information System (IPPIS). Piwuna also criticised the delayed release of revitalisation funds and earned academic allowances due to government inaction. In spite of promises to inject ₦150 billion into universities and adjust irregular allowances by 2026, he said these commitments remain unfulfilled. He highlighted the marginalisation of ASUU members at state institutions such as Kogi State University and Lagos State University. According to him, victimisation, salary denial, and job insecurity persist in those universities, undermining staff morale. On university autonomy, he said political interference has compromised the selection of leaders, citing Nnamdi Azikiwe and Abuja universities as examples. Piwuna warned that universities are becoming battlegrounds for political and economic interests, which he described as unacceptable. He called for a national rebirth through education, saying it is vital for Nigeria’s transformation and prosperity. To address the crisis, he proposed a national education summit focusing on funding, autonomy, and academic welfare. “Education empowers citizens, drives innovation, and instils values. Without it, development is impossible,” Piwuna said. He reaffirmed ASUU’s commitment to reforming Nigerian universities and urged patriotic Nigerians and global allies to support their struggle. “Our universities should be centres for solutions to national challenges. “We are open to dialogue but will not tolerate further erosion of our rights,” Piwuna said. (NAN
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