By Raphael Atuu, Abuja

Traditional rulers in the Federal Capital Territory (FCT) have commended the FCT Minister, Nyesom Wike, for approving the upgrade of traditional rulers in Abuja to First and Second Class chiefs.

Speaking with DAILY ASSET in separate interviews at their palaces in Abuja, the Akimi of Garki, Chief Stephen Shekwonce Yakubu and the Akimi of Pigbasama, Chief Emmanuel Gade, described the development as a welcome move that had been long overdue.

Chief Yakubu expressed appreciation to the minister for what he described as a bold step toward strengthening the traditional institution in the territory. According to him, the recognition would not only boost the morale of traditional rulers but also enhance their role in community development and peacebuilding.

“I must commend the FCT Minister for his developmental vision and his determination to bring positive change to the FCT,” he said.

The district head of Garki further noted that the minister’s policies and programmes have continued to bring noticeable development to communities across the territory.

He described the minister as a blessing to the people of the FCT and called on residents to support the administration’s efforts aimed at improving infrastructure and governance in the capital city.

Similarly, the Akimi of Pigbakasa, Chief Emmanuel Gade, welcomed the decision, stating that the upgrade of traditional rulers would strengthen the traditional institution and promote unity among communities in the FCT.

He noted that traditional rulers play a critical role in grassroots governance, conflict resolution and cultural preservation, adding that the recognition by the FCT Administration would further empower them to perform their duties effectively.

Chief Gade also urged residents of the FCT to continue supporting the minister in his efforts to transform Abuja into a modern and inclusive capital city.

The traditional rulers further pledged their continued cooperation with the FCT Administration to ensure peace, security and sustainable development across the territory.

By Raphael Atuu, Abuja

The Hakimi of Ketti, Chief Dr Joshia Alex Akata has commended the Minister of the Federal Capital Territory (FCT), Nyesom Wike for the recent upgrade of traditional chiefs in the territory.

Speaking during a community engagement in Ketti, the traditional ruler particularly praised the elevation of the Sapeiyi of Garki, His Royal Highness Usman Nga Kupi, describing the development as a significant step toward strengthening traditional institutions and recognizing the role of local leaders in governance and community development.

Chief Alex noted that the decision by the FCT Administration to upgrade traditional stools has boosted the morale of community leaders and enhanced their capacity to contribute meaningfully to peace, cultural preservation, and grassroots development across the FCT.

The Akimi of Ketti also expressed appreciation to the Chairman of the Abuja Municipal Area Council (AMAC), Christopher Zakka Maikalangu, for approving the establishment of a Senior Secondary School in Ketti.

According to him, the approval of the school is a major milestone for the community, as it will expand access to quality education for young people in Ketti and surrounding villages. He added that the initiative will reduce the burden on students who currently travel long distances to attend secondary schools in other parts of the area council.

Chief Alex called on residents of Ketti and the general public to continue supporting the administration of President Bola Ahmed Tinubu, emphasizing that sustained cooperation between citizens and government is essential for national progress.

He further maintained that the leadership of Minister Wike and the reelected AMAC chairman has already begun to change the narrative in the Federal Capital Territory and within the Abuja Municipal Area Council.

According to him, visible improvements in infrastructure development, governance, and community engagement across parts of Abuja and AMAC demonstrate a renewed commitment to grassroots development.

The traditional ruler therefore urged residents, community leaders, and stakeholders to give their full support to the FCT Minister and the AMAC chairman in order to enable them to consolidate on the progress already made.

Chief Alex expressed optimism that with continued support from the people, the current administration at both federal and area council levels will deliver more developmental projects that will positively impact the lives of residents in Ketti and across the FCT.

By Tony Obiechina, Abuja

The Securities and Exchange Commission (SEC) has officially launched its inaugural Regulator/FinTech Clinic, signaling a proactive step towards strengthening dialogue with Nigeria’s rapidly growing financial technology ecosystem.

The event, held on Tuesday aims to align innovation with regulatory compliance while ensuring investor protection.

Opening the clinic, the SEC DG Emomotimi Agama highlighted the significance of a collaborative approach between regulators and innovators in one of the most dynamic segments of Nigeria’s financial system.

“This engagement reflects a deliberate step by the Commission to deepen dialogue between the regulator and the FinTech sector,” he said.

Nigeria has emerged as a leading innovation hub in Africa, with FinTech entrepreneurs expanding financial access, democratizing investment opportunities, and leveraging technology to bridge structural gaps in the financial system. The SEC DG emphasized that while this progress is commendable, regulatory frameworks must evolve in tandem with technological advancements.

He said, “Responsible innovation requires regulatory frameworks that are both protective and adaptable. The Clinic forms part of that continuous review process to ensure our Rules remain proportionate, responsive, and aligned with market realities.”

He said the SEC’s mandate which is protecting investors, ensuring fair and transparent markets, and facilitating capital formation remains compatible with innovation.

Agama noted that clarity, predictability, and trust are critical conditions for innovation to thrive.>>> He states further that since 2018, the Commission has demonstrated a commitment to facilitating technological innovation in Nigeria’s capital market, including the creation of a dedicated FinTech department, adoption of Innovation Facilitators, and drafting of FinTech-focused rules.

The recent enactment of the Investments and Securities Act, 2025, he added, has further strengthened the Commission’s capacity to regulate emerging digital products and platforms while enhancing investor protection.

The clinic serves three primary purposes providing clarity on the regulatory landscape under the new Act, engaging directly with FinTech operators on common pitfalls, and reinforcing the understanding that legitimacy is foundational to sustainable growth. “FinTech business models often evolve faster than regulatory frameworks,” the SEC DG noted.

  “Early dialogue prevents costly missteps. Compliance embedded at the design stage is far more effective than corrective measures after market entry.”

He encouraged stakeholders to view the clinic as a constructive platform rather than an adversarial forum.

The SEC DG emphasized the Commission’s commitment to helping innovators succeed within a framework that safeguards investor interests and the integrity of Nigeria’s capital market.

He also highlighted the evolving digital financing landscape, referencing the 2021 Crowdfunding framework and ongoing reviews of structural elements to enhance capital formation while maintaining strong investor protections.

He stressed the importance of regulatory clarity, particularly for retail investors who may not fully grasp the complexities of digital financial products.

He reiterated that innovation must be matched with robust governance to ensure sustainable growth and investor confidence.

“As we launch this inaugural Clinic, our goal is to align innovation with integrity, growth with governance, and technology with trust,” the SEC DG said.>> In a keynote address, the Executive Commissioner Operations, SEC, Bola Ajomale stated that among the young people, Digital assets have caught their imagination saying that the future is great.

He said “We believe that the responsibilities we have and everyone has as players, it must grow in complement with the enthusiasm. There are some risks emerging and some that have been there are heightened including unregistered investment platforms among others.

“We continue to ensure we protect investors, ensure a fair and efficient market and facilitate capital formation. We have taken more than 500 firms to understand how they are evolving and what they are bringing to the market. That is why we are engaging the players to understand what they are bringing to the market and then to set up a framework where we can regulate them”.