By Tony Obiechina, Abuja

The Securities and Exchange Commission (SEC) has commenced the implementation of a fully electronic registration process for capital market operators, enabling designated regulatory services to be completed entirely online as part of efforts to modernise Nigeria’s capital market and improve regulatory efficiency.

The Commission, in a statement issued on Wednesday, said the new electronic registration (e-Registration) platform, deployed through its ePortal, marks another milestone in its digital transformation agenda and its drive to build a technology-driven regulatory environment.

According to the SEC, the platform allows Capital Market Operators (CMOs) to complete designated registration processes online, covering application submission, regulatory review, approvals and communication of decisions, thereby eliminating manual processing for the services included in the current phase.

The Commission said the initiative is expected to simplify regulatory interactions, reduce administrative bottlenecks, shorten processing timelines and provide applicants with greater visibility into the status of their applications.

It added that the migration to a fully digital registration system would improve operational efficiency while strengthening regulatory oversight through standardised workflows, electronic documentation, secure digital record management and enhanced audit trails.

“The new platform represents a major step towards creating a seamless digital regulatory ecosystem that enhances operational efficiency while strengthening regulatory effectiveness,” the Commission said.

The SEC explained that the e-Registration platform aligns with its strategic objective of leveraging technology to improve market efficiency, enhance the ease of doing business and deliver better services to stakeholders.

According to the regulator, beyond improving efficiency, the platform will enhance the integrity of regulatory processes by reducing delays associated with paper-based documentation and improving the quality of regulatory data for decision-making.

It noted that the digital platform would also provide a stronger foundation for regulatory analytics and future innovations aimed at improving oversight of Nigeria’s capital market.

The Commission said the implementation is being carried out in phases to ensure a smooth transition for market participants while maintaining the stability and integrity of regulatory processes.

It clarified that the current phase is limited to post-registration services for existing Capital Market Operators, adding that applications for the registration of new entrants into the Nigerian capital market are not yet covered.

According to the SEC, the commencement of electronic processing for new registration applications will be announced at a later date.

The Commission urged all Capital Market Operators to familiarise themselves with the new platform and comply with implementation timelines to ensure a seamless transition to the electronic registration process.

It said the initiative forms part of its broader modernisation agenda designed to improve regulatory efficiency, strengthen market infrastructure, enhance transparency and support the continued growth, resilience and global competitiveness of Nigeria’s capital market.

The SEC reaffirmed its commitment to implementing reforms that promote innovation, improve regulatory service delivery and reinforce investor confidence in Nigeria’s capital market.

Africa’s richest man, Aliko Dangote, plans to donate one-third of his wealth to charity as part of his succession plan, his daughter, Halima Dangote, has revealed.

Halima, a trustee of the Aliko Dangote Foundation, disclosed the arrangement in an interview with Bloomberg published on Tuesday, saying the billionaire had secured his family’s support to dedicate 33 per cent of his estate to philanthropy.

According to the Bloomberg Billionaires Index, Dangote’s net worth is estimated at $35.

Explaining the decision, Halima said her father considers philanthropy central to his legacy and has embedded it into the family’s long-term succession plans.

“He sort of put all the structure in place whereby we focus a lot on health and education. He actually donated 25 per cent to the foundation. If you look at it, it is what we call in Sharia Code in Islam; it means he has donated 33 per cent of his whole inheritance to his foundation,” she said.

“That is how important it is to him because philanthropy needs to be in existence generation after generation.

“So giving back is part and parcel of what we do. We believe we’re here, that our business is successful because of the giving back and because of the philanthropic aspect. That is why the 33 per cent is important.

“And that is why he made an announcement and he asked myself, my two sisters and his mother to sign under that will that he is able to give that 33 per cent to humanity.”

The planned donation builds on Dangote’s existing philanthropic work through the Aliko Dangote Foundation, established in 1994.

According to Halima, the foundation was endowed with $1.25 billion about a decade ago and has since received an additional $700 million in funding.

She said about 70 per cent of the foundation’s spending is directed to Nigeria, while 20 per cent supports projects across Africa and the remainder funds initiatives in other parts of the world.

The foundation’s interventions span health, education, nutrition and humanitarian relief, and include partnerships with the Bill & Melinda Gates Foundation and state governments in northern Nigeria that contributed to the eradication of wild poliovirus in Africa.

Dangote’s planned charitable commitment comes amid growing global attention on billionaire philanthropy. While the proposed 33 per cent allocation falls short of the 50 per cent threshold commonly associated with the Giving Pledge, it would rank among the largest philanthropic commitments ever announced by an African billionaire.

Earlier this year, TIME magazine named Dangote among the world’s most influential philanthropists in its inaugural TIME100 Philanthropy list, recognising his charitable work through the Aliko Dangote Foundation, which spends more than ₦50 billion annually on programmes across Africa.

By Elijah Oguche, Abuja

President Bola Ahmed Tinubu has approved the expansion of the Nigerian Army’s command structure from eight to twelve divisions in a major reform aimed at strengthening Nigeria’s security architecture and improving military operations across the country.

The Presidency said the expansion would enhance operational effectiveness, decentralise command and control, strengthen border security and improve the capacity of the Armed Forces to respond swiftly to emerging security threats.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed that the approval was part of the administration’s commitment to boosting national defence capabilities through sustained investment in manpower, equipment and military reforms.

According to Onanuga, the restructuring is among several measures being implemented to reposition the Nigerian military, including the approval for the recruitment of 28,000 additional personnel, procurement of critical military platforms, improved welfare for troops and continued support for force modernisation.

With the new arrangement, the Nigerian Army will operate 12 divisions strategically located across different parts of the country.

The formations include 1 Division, Kaduna, covering Kaduna, Kano, Katsina and Jigawa States; 2 Division, Ibadan, responsible for Oyo, Osun, Ekiti and Ondo States; 3 Division, Jos, covering Plateau, Bauchi and Gombe States; and 5 Division, Makurdi, responsible for Benue, Nasarawa and Kogi States.

Others are 6 Division, Port Harcourt, covering Rivers, Akwa Ibom and Cross River States; 7 Division, Maiduguri, responsible for Borno and Yobe States; 8 Division, Sokoto, covering Sokoto, Kebbi and Zamfara States; and 9 Division, Ilorin, responsible for Kwara and Niger States.

The remaining formations are 10 Division, Jalingo, covering Taraba and Adamawa States; 81 Division, Lagos, responsible for Lagos and Ogun States; 82 Division, Enugu, covering Enugu, Anambra, Abia, Ebonyi and Imo States; and 83 Division, Benin City, covering Edo, Delta and Bayelsa States.

The Presidency explained that the establishment of new divisions in Makurdi, Ilorin, Jalingo and Benin City would improve military coordination, strengthen internal security operations and ensure faster deployment of troops during crises.

It added that the expanded structure would enhance the protection of critical national infrastructure, improve counter-insurgency operations and strengthen the country’s ability to tackle security challenges across various regions.

Implementation of the new military structure will be carried out in two phases.

The first phase, which involves the establishment of the 5, 9 and 10 Divisions and the reorganisation of existing formations, is expected to be completed by September 2026.

The second phase, involving the establishment of the 83 Division, Benin City, and further restructuring of the Army, is expected to be concluded by December 2026.

President Tinubu commended the Chief of Army Staff, Lieutenant General Waidi Ibrahim Shuaibu, as well as officers and soldiers of the Nigerian Army, for their dedication, professionalism and commitment to protecting Nigeria’s sovereignty and territorial integrity.

The President reaffirmed his administration’s determination to continue investing in the Armed Forces to ensure they remain well-equipped, motivated and capable of safeguarding the lives and property of Nigerians while defending the nation’s interests.