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New Investment Act, Game Changer to Stimulate Economic Growth – SEC

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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.

NEWS

2027: INEC ‌‍‍‍⁠⁠‌⁠‍‍‌‍‌Appeals for Peaceful Conduct, Promises Neutrality

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The Independent National Electoral Commission (INEC) has appealed to political parties, candidates and voters to ensure peaceful conduct before, during and after the 2027 general election.

Resident Electoral Commissioner (REC) of INEC in Ondo State, Dr Mutiu Agboke, made the appeal at a major stakeholders meeting on Thursday at the commission’s offices at Akure South and North Local Government Area of the state.

Political parties, security agencies, traditional rulers, religious leaders, NYSC members, National Association of Transport Owners (NATO) and other drivers union, among others were present.

Agboke, who visited the traditional ruler of Iju and Ita-Ogbolu in Akure North Local Government Area, said the stakeholders meeting became necessary to ensure the forthcoming election was free, fair and credible.

According to him, credible elections are a collective responsibility and that security, traditional institutions and transport unions all play a critical role in protecting voters, officials and election materials.

The REC, who said INEC would remain neutral and transparent, warned that the commission would not tolerate partisan leaning, vote-buying, intimidation or any act capable of undermining the credibility of the poll.

“This advocacy is for the commission and our major stakeholders to be on the same page because our expectation is to let votes count.

“The recent elections conducted by INEC are enough proof to show that people’s votes determine the direction of who wins.

“Meanwhile, we don’t want them to engage in violence, nobody should allow him or herself or wards to be used for violence and desist from engaging in vote buying.

“It is only votes lawfully cast and duly counted would determine winners,” he said.

He, therefore, assured that INEC officials had been trained to adhere strictly to the Electoral Act and its guidelines, while the commission’s doors remained open for questions and clarifications to avoid misinformation.

Agboke reiterated INEC’s promise of neutrality, saying that preparations for the 2027 general elections had already begun in earnest.

According to the REC, the success recorded in recent by-elections in the state will be built upon to deliver free, fair and inclusive polls that reflect the will of the people.

In their separate responses, Oba Idowu Faborode, The Ogbolu of Ita-Ogbolu; Oba Amos Farukanmi, The Okiti of Iju and religious leaders, pledged to sensitise their subjects and congregations on non-violence.

Also, Dr Gbenga Jemiloye, Akure South Local Government Chairman of All Progressive Congress (APC), applauded the commission for the meeting, saying it showed INEC was ready for the election.

The security agencies and drivers union assured of adequate deployment across the state, while the transport unions committed to timely movement of personnel and materials.(NAN)

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NEWS

DAILY ASSET Loses Political Editor, Mike Odiakose at 63

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By David Torough, Abuja

The management and staff of DAILY ASSET have announced the death of the newspaper’s Political Editor, Mike Odiakose, who passed away in the early hours of Thursday at the Federal Medical Centre, Keffi, following a brief illness.

Odiakose, aged 63, was described by the management of DAILY ASSET as an accomplished journalist, who served with dedication across various media organisations in Nigeria before joining the newspaper two years ago.

In a statement personally signed by the Publisher and Editor-in-Chief of DAILY ASSET, Dr.

Cletus Akwaya, the newspaper expressed sadness over the death of the veteran journalist, saying he would be deeply missed by his colleagues and members of the wider media community.

“Management and Staff of DAILY ASSET regret to announce the sudden passing of our Political Editor, Mr Mike Odiakose in the early hours of today (Yesterday), following a brief illness at the Federal Medical Centre Keffi,” the statement said.

The management noted that Odiakose’s contributions to journalism extended beyond DAILY ASSET, where he worked for two years, having previously served with dedication in several media organisations across the country.

He is survived by his wife and children.

The newspaper prayed for the peaceful repose of his soul and offered its condolences to his family, colleagues and associates.

“May his gentle soul rest in perfect peace. Amen,” the statement added.

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NEWS

Poco Lee’s Management Praises Zlatan’s Support, Urges Restraint

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The management of Nigerian dancer and entertainer, Iweh Odinaka, popularly known as Poco Lee, has called for restraint in the spread of negative narratives surrounding the entertainer’s ongoing legal case in the United Kingdom.

The management, in a statement issued on Wednesday by Poco Lee’s manager, Faleye “Dee-Y” Adedoyin, also acknowledged the support of Nigerian singer, Zlatan Ibile, and others during the entertainer’s legal ordeal.

Adedoyin said Zlatan and others had been “extremely supportive and helpful” throughout the matter, adding that their involvement had been vital to moving things forward.

The statement read, “We would like to publicly acknowledge that Zlatan, along with others, has been extremely supportive and helpful through this matter.

“Their involvement, support, and effort have been vital to moving things forward.

“We deeply value their ongoing support and dedication and we kindly request that everyone refrain from spreading negative narratives.”

The manager signed off the statement as “Poco’s Management.”

The statement followed reports and comments about Poco Lee’s UK trip and the circumstances surrounding his ongoing court case.

Social commentator Martins Otse, popularly known as VeryDarkMan, had made the claims, questioning reports that Poco Lee had travelled to the UK for a Davido show.

In an Instagram post, VeryDarkMan claimed that Poco Lee travelled to the UK for a Zlatan show rather than a Davido concert.

He also questioned why people were defending Poco Lee while the case remained before the court.

VeryDarkMan said, “In between Poco Lee didn’t travel to the UK for a Davido show, it was for a Zlatan show.”

He also said Poco Lee should be allowed to face the court process, adding that “court case na stress” and praying that the matter would end soon.

The latest development comes amid ongoing proceedings against Poco Lee in the UK.

Poco Lee was granted bail on September 11 ahead of his scheduled appearance at Snaresbrook Crown Court on September 15. The court had confirmed the bail and hearing date to PUNCH Online.

However, the September 15 plea and trial preparation hearing was adjourned to February 8, 2027, after the charge sheet was reportedly unavailable and Poco Lee did not appear in court. The trial was subsequently scheduled for March 8, 2027.

Poco Lee is facing five sexual offence charges in the UK: attempted rape, two counts of rape and two counts of assault by penetration. He has denied the allegations and has not been convicted of any offence.

His management had previously urged the public and media to exercise restraint, particularly over unverified narratives surrounding the case, saying allegations should not be treated as evidence of guilt.

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