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Invest in Capital Market, Retirement Security, SEC Urges Civil Servants

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By Tony Obiechina, Abuja

The Securities and Exchange Commission (SEC) has urged Nigerian civil servants to take advantage of opportunities in the capital market to build wealth, enhance financial security and actively participate in national economic growth.

Speaking during a strategic engagement with the Head of Service of the Federation, Dame Didi Walson-Jack and top officials of the service, the Director-General of the SEC, Dr.

Emomotimi Agama, said the capital market should no longer be seen as distant from the everyday lives of public servants but as a viable platform for long-term savings and investment.

Agama stressed that civil servants, beyond earning monthly salaries, must position themselves as investors and stakeholders in the economy, noting that this would improve their financial stability both during service and in retirement.

“The capital market is a platform for wealth creation and financial security. Our collective goal should be to move civil servants from being just salary earners to becoming active investors and beneficiaries of economic growth,” he said.

He explained that the Contributory Pension Scheme (CPS) already links millions of civil servants to the capital market, as pension funds are invested in government bonds, equities, infrastructure funds and other market instruments. According to him, the performance of these investments directly affects the retirement benefits of workers.

Agama noted that a better understanding of how the capital market operates would deepen confidence in the pension system and encourage civil servants to explore additional investment options such as mutual funds, bonds, Real Estate Investment Trusts (REITs) and other regulated instruments.

To achieve this, the SEC boss proposed a structured financial literacy programme tailored specifically for the civil service, aimed at equipping workers with practical knowledge on savings, investment planning, home ownership and education funding.

“A financially literate civil service is a more stable, productive and secure workforce. Through targeted workshops, seminars and digital learning, civil servants can be empowered to make informed financial decisions,” he said.

The Director General also emphasised the role of the capital market in addressing housing challenges faced by public servants, noting that instruments such as REITs and mortgage-backed securities could provide more accessible pathways to home ownership if properly embraced and supported by policy.

He further called for stronger collaboration between the SEC and the civil service, including the establishment of a standing joint committee and the integration of capital market education into the training curriculum of institutions such as the Administrative Staff College of Nigeria (ASCON).

According to him, aligning the efficiency of the civil service with the innovation of the capital market would not only benefit individual workers but also strengthen investor confidence and contribute to sustainable national development.

“When civil servants understand and participate actively in the capital market, they become partners in Nigeria’s growth story, not just administrators of policy,” Agama added.

Agama also used the occasion to warn against investing in unregistered entities to avoid loss of their hard-earned funds.

He said “Many of the victims of Ponzi schemes are civil servants, this is a great challenge. We are finding solutions to problems, so as part of this collaboration, we will be happy to sensitize civil servants on Ponzi schemes and the dangers of patronizing them”.

On her part, the Head of Service expressed willingness to collaborate with the SEC to harness the potentials inherent in the capital market for the benefit of the Civil Service and the nation.

NEWS

FCT Primary School Teachers Commence Indefinite Strike Today

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By Laide Akinboade, Abuja

The Nigeria Union of Teachers (NUT) FCT Wing, at the weekend said it has concluded an arrangement to commence indefinite strike over non implementation of the N70,000 Minimum Wage and the payment of nine months’ arrears to the Primary School Teachers in the Federal Capital territory (FCT).

This was contained in a communique issued by the State Chairman, Abdullah Shafa, state secretary, Margaret Jethro and State Publicity Secretary, Ibukun Adekeye, after the State Wing Executive Council (SWEC) meeting in Abuja.

They commended the FCT Minister Nyesom Wike for his intervention on 11th March 2026, which expired on 19th March, 2026.

But they lamented that the Minister’s intervention, which facilitated the suspension of the Fourteen-week Strike by the Primary School Teachers on 9th July, 2025, is yet to be addressed.

They acknowledged that the Minister, in order to resolve the issue constituted a committee on the 7th July 2025 with a mandate to, within two weeks, harmonize all outstanding entitlements of Primary School Teachers and make appropriate recommendations that would lead to a permanent solution to the frequent industrial disputes involving FCT Primary School Teachers. Committee concluded its assignment and submitted its report in August 2025, however, the report is yet to be made public.

According to the communique, the FCT teachers lamented that they don’t know the reason for the unexplained delay in the implementation of the committee’s report and the continued silence on the legitimate demands of teachers amid the prevailing harsh economic realities in the country, particularly in the FCT.

It would be recalled that SWEC, at its session on 11th March 2026, issued a seven day ultimatum within which to:

“Release and implement the report of Primary School teachers’ outstanding entitlements, Remove the “Vacancies” precondition for the promotion of classroom teachers and totally review the 2024 promotion exercise conducted by the FCT Civil Service Commission to allow for the unhindered promotion of eligible teachers”.

The teachers are concerned that following the expiration of the Seven-day ultimatum on 19th March 2026, including the additional twenty eight day grace period granted to the authorities to enable them to intensify efforts towards meeting the demands of teachers as requested, there has been no tangible response from the authorities to all the industrial issues raised in our ultimatum.

“After exhaustive deliberations on the industrial issues that necessitated the seven-day ultimatum, and considering that the silence on the legitimate demands of teachers’ welfare and a threat to the stability of education in the territory, the meeting resolved that all Public Primary and Secondary School Teachers in the FCT shall, with effect from Monday, 20th April 2026, proceed on an indefinite Strike until the demands of the Union are met.

“The Union hereby directs all Public Primary and Secondary School Teachers in the FCT to comply with this directive and await further instructions from the Union”, the communique noted.

They therefore advised Parents to keep their children and wards in Primary and Secondary Schools safe at home until further notice.

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Foreign News

Zelensky Condemns US Extension of Russian Sanctions Waiver

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Ukraine’s President Volodymyr Zelensky has condemned a US decision to extend the period during which Russia is allowed to sell oil despite Western sanctions.

The move means countries can purchase Russian oil and petroleum products already loaded on vessels at sea until 16 May.

The US argues that the waiver is meant to ease the energy supply crunch sparked by the US-Israel war with Iran.

But in his remarks on Sunday, Zelensky said “every dollar paid for Russian oil is money for the war” in Ukraine. Widespread sanctions have been in place against Russia since President Vladimir Putin launched his full-scale invasion of its neighbour in February 2022.

The devastating US and Israel attacks against Iran have prompted it to retaliate not only against Israel and US military bases in the Gulf, but also against energy fatalities and other civilian sites across Arab allies of the US in the region.

Additionally, Iran has virtually shut the Strait of Hormuz – the narrow passage where some 20% of the world’s oil and liquefied natural gas (LNG) is usually transported through.

This has led to turmoil in energy markets, with fears that a world recession may ensue if it is not reopened soon.

The US move to ease Russian sanctions on 13 March was widely condemned by Zelensky as well as his European allies.

Extending the waiver on Friday, the US said it wanted “to ensure oil is available to those ⁠who need it” as negotiations to end the war “accelerate”.

The Ukrainian leader said Russia had more than 110 tankers from its “shadow fleet” – vessels with obscured ownership designed to help it bypass sanctions – with “over 12 million tons” of oil.

Their sale, he added, would bring $10bn (£7.4bn) to Moscow’s coffers as “a resource that is directly converted into new strikes against Ukraine”.

The Ukrainian leader did not explain what those figures were based on.

But he added that just over the past week, Russia had launched “over 2,360 attack drones, more than 1,320 guided aerial bombs, and nearly 60 missiles of various types at our cities and communities”.

That included the deadliest attack against Ukraine in months on 15 April during which more than 700 drones and missiles were used in multiple waves in one night, killing at least 18 people.

Ukraine has also attacked Russia, particularly focusing on energy facilities.

However, despite ongoing attacks, a stalemate has been reached in the war in Ukraine, with Russia in control of about 20% of Ukrainian territory.

Efforts led by the US to end the war have been put on hold as a result of the war in Iran.

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NEWS

Delta Unveils Plan to Tackle Hunger, Boost Food Security by 2030

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From Francis Sadhere, Delta

The Delta State Government has reaffirmed its commitment to boosting food security through the development of a clear and practical implementation work plan aimed at transforming the state’s food systems.

The Commissioner for Economic Planning, Sonny Ekedayen, made this known during a two-day Implementation Work Plan Development Workshop organised by the State Steering Committee on Food Systems Transformation Pathways (FSTP).

Ekedayen, who was represented by the Acting Permanent Secretary, Martina Amromanoh, highlighted the central role of food systems in driving economic growth, supporting livelihoods, and improving public health.

“Food is central to our daily lives. When the food system works well, people live better lives and economies grow stronger,” he said.

He, however, expressed concern over the growing pressure on food systems, noting that food is becoming increasingly expensive, unsafe, and less nutritious.

He added that hunger and malnutrition are rising, particularly among women and children, with negative impacts on health, education, and overall well-being.

The commissioner revealed that about 40 percent of Nigerians live in poverty, spending less than ₦137,430 per person, while access to nutritious food remains inadequate.

He also pointed to the increasing prevalence of diet-related illnesses such as hypertension and diabetes, stating that roughly one in every sixteen adults is affected by diabetes.

“These challenges show that we are off-track in achieving the Sustainable Development Goals by 2030. It is not just about producing more food, but ensuring it is safe, nutritious, accessible, and sustainably produced,” he added.

Ekedayen disclosed that Delta State has now been fully integrated into the national food systems transformation agenda following the approval of the State Steering Committee by Governor Sheriff Oborevwori.

He noted that the state has strong agricultural potential in areas such as cassava, plantain, oil palm, fisheries, and horticulture, which could significantly enhance food security and economic growth if effectively harnessed.

He urged stakeholders at the workshop to collaborate actively to ensure the successful implementation of the plan.

The Secretary of the Steering Committee, Efe Orherhe, said the initiative is expected to improve food availability, affordability, safety, and nutrition, while also enhancing livelihoods across the state.

He added that Delta now has an approved Food Systems Transformation Work Plan to guide implementation from 2026 to 2030.

In separate presentations, Clementina Okoro of the Federal Ministry of Budget and Economic Planning provided an overview of the national framework, while Julius Alikuna stressed the need for inter-ministerial collaboration to ensure sustainable food production and supply.

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