NEWS
SEC Cautions potential Investors against `High Returns’ Fraud Schemes
The Securities and Exchange Commission (SEC) has cautioned potential capital market investors against putting their monies in fraud schemes that promise unwarranted high returns.
Mr Tunde Kamali, the Head, Investor Education of the Securities and Exchange Commission (SEC), gave the advice at a webinar meeting with title `The ABC of Savings and Investment in Abuja’.
Kamali expressed regrets that fraudsters usually attracted their investors through offer of commissions, pressure tactics and fictitious track records, among others.
He called on investors to always ask, check and confirm with the commission before investing in those companies.
“Our duty at SEC is to protect investors by ensuring only fit and proper professionals are allowed to provide financial services.
“Most times, because of the ways and strategies of the fraudsters, many people do not have enough time to consider before we part with our money,’’ he explained.
Mr Bayo Rotimi, the Chief Executive Officer of the Greenwich Merchant Bank Limited, called on investors to always seek professional advice to enhance their knowledge before any asset class.
Rotimi who said the country currently had about 164 companies whose equities were actively traded on the floor of Nigerian Stock Exchange, called for more companies for better investments.
Speaking on Protection of Savings, Ademilola Aluko, Stanbic IBTC Investor Services Relationship Officer, advised citizens to reduce debt, loans and ensure that their expenses were in line with their earnings.
Aluko called on citizens to setup personal emergency funds that would be aimed at meeting their unexpected needs.
Mr Omagbitse Barrow, the Chief Executive Officer, Learning Impact Nigeria, advised citizens to avoid compulsive spending and engage in long term savings.
According to him, short term savings limits the ability of the financial institutions to provide long term investments.
The Market Development Manager of AFEX Commodities Exchange, Funto Olasemo, said that building wealth required consistency and patience.
She called on citizens to invest in equities/stocks, mutual funds, FGN savings fund, pension scheme and Exchange Traded Funds (ETFs).
The meeting was organised by SEC in collaboration with the Financial Literacy Technical Committee (FLTC). (NAN)
NEWS
Ohanaeze Ndigbo President Iwuanyanwu for Burial Nov. 1
By David Torough, Abuja
The remains of elder statesman and President General of the pan-Igbo group, Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu, have been slated for burial on November 1.
Chairman of the burial committee, Senator Ben Obi, disclosed this at a news conference in Abuja on Thursday.
Alongside with the Secretary General of Ohanaeze Ndigbo, Amb Okey Emuchay and burial sub-committee chairmen, Senator Osita Izunaso, Gen.
Azubuike Ihejirika (retd) and others, Obi unveiled a series of activities culminating into the actual burial ceremony.“Our message today is to convey the dates for the burial of the President General of Ohanaeze Ndigbo.
“Lagos day of tributes, Wednesday 16th October 2024 at Eko Hotels and Convention Centre.
“Abuja Day of Tributes Friday 18th October, 2024 at the National Ecumenical Centre.
“Enugu Day of tributes, Saturday 26th October with a brief stop at Ohanaeze headquarters, 7 Parkland GRA Enugu while the main event will be held at the Okpara Square.
“Owerri Service of Songs Tuesday 29th October 2024. Commendation Service on 1st November in Owerri and Imo day of burial on Friday, 1st November 2024,” he said.
He added that further details will be communicated in due course.
On whether the Federal Government would participate in the burial, Senator Obi said the committee will visit President Bola Tinubu to intimate him about the transition of the statesman and details of his burial.
“We will be visiting President Tinubu to formally announce to him details of this transition and I am sure the President knows all that Chief Iwuanyanwu had done and he will do the needful,” he said.
Asked whether the late newspaper publisher had regrets about his inability to secure the release of Mazi Nnamdi Kanu and ensure the realization of a restructure federation, the Ohanaeze Ndigbo scribe said Chief Iwuanyanwu died a fulfilled man because he never shies away from doing his best in the circumstance.
“Chief Iwuanyanwu and I visited Kanu in jail and I think that was his last official assignment before his demise.
“Prior to that, he had never missed any opportunity to call for the release of Kanu.
“On restructuring, he never minced his words on equity, fairness and justice and he knew that he couldn’t do it alone.
“So he operated with the South-South PANDEF, Middle Belt Forum and Afenifere. He asked for parity in the number of states in each geopolitical zone.
“We in Ohanaeze will continue to pursue these issues that were very dear to his heart and we want to give the assurances that we will not fail,” Obi said.
NEWS
Shettima to Lead Nigeria’s Delegation to UNGA
President Bola Tinubu will not attend the 79th United Nations General Assembly session in New York this year.The President has thus directed Vice President Kashim Shettima to lead Nigeria’s delegation, Mr Bayo Onanuga, Special Adviser, Information and Strategy, said in a statement on Thursday.“President Tinubu, who returned to the country last Sunday after his trip to China and the UK, wants to focus on domestic issues and address some of the country’s challenges, especially after the recent devastating flooding.
“At UNGA 79, Vice President Shettima will deliver Nigeria’s national statement to the General Assembly, attend important sideline events, and hold bilateral meetings,” said the statement.The high-level General Debate, with the theme, “Leaving no one behind: Acting together for the advancement of peace, sustainable development and human dignity for present and future generations,”will run from Sept. 24, to Sept. 28. (NAN)NEWS
NECO Releases 2024 SSCE Results
The National Examinations Council, (NECO) has released the June/July 2024 Senior School Certificate Examination results (SSCE), with 60.55 per cent of candidates securing five credits and above in English Language and Mathematics.
The Registrar of NECO, Prof. Dantani Wushishi, disclosed this while addressing newsmen at the NECO headquarters on Thursday in Minna, Niger.
Wushishi said that a total of 1,376,423 candidates, representing 706,950 males and 669,473 females, registered for the exam.
The registrar said that 1,367,736 candidates sat for the examination, representing 702,112 Males and 665,624 females.
He said that 828, 284 candidates had five credits and above, including English and Mathematics, representing 60.
55 per cent.Wushishi said that the number of candidates with five credits and above, irrespective of English and Mathematics, were 1,147,597, representing 83.90 per cent.
He said that there was a great reduction in the number of examination malpractices this year compared to 2023.
“The number of candidates involved in various forms of malpractice in 2024 is 8,437 as against 12,030 in 2023, which shows a reduction of 30. 1 per cent,” he said.
The registrar, however, said that 40 schools were found to be involved in mass cheating during the examination.
” During the conduct of the 2024 Senior School Certificate Examination (SSCE), 40 schools were found to have been involved in whole school (mass) cheating in 17 states.
” They will be invited to the Council for discussion, after which appropriate sanctions will be applied.
“A school in Ekiti was recommended for de-recognition for mass cheating in two core subjects and 01 Science subject.
” Similarly, 21 Supervisors were recommended for blacklisting due to poor supervision, aiding and abetting, abscondment, extortion, drunkenness and negligence in 12 states,”said.
He urged candidates that sat for the examination to visit NECO website to access their results.
Wushishi said candidates can access their results on NECO website: www.neco.gov.ng using their examination registration number,” he said.(NAN)