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SEC Tasks Market Operators on Sustained Compliance Culture after Nigeria’s Exit from FATF Grey List

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By Tony Obiechina, Abuja

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has urged financial sector stakeholders to strengthen and sustain a culture of proactive compliance to safeguard Nigeria’s position in the global financial system following its recent exit from the Financial Action Task Force (FATF) Grey List.

Speaking at the Nigerian Capital Market Institute Compliance Summit on Monday, Agama described the gathering as crucial to the future of the country’s financial markets, noting that discussions at the summit touch “the very heart of the market’s integrity, stability and future.
”The Director General said Nigeria’s removal from the FATF Grey List was a major national achievement and a strong global endorsement of the country’s resolve to strengthen its Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.
He said: “This was not a mere administrative update; it was a resounding global affirmation of our collective and unwavering commitment”.Crediting the success to the joint efforts of public and private sector institutions, he commended operators, regulators and compliance professionals for their roles in achieving the milestone. The SEC boss, however, cautioned that the exit should not be seen as the end of the journey.“Exiting the grey list is not the finish line; it is the starting block for a new race. The world is watching,” he said.Agama stressed that international investors and global financial institutions will continue to monitor Nigeria to determine whether the reforms are sustainable and whether the country’s compliance culture is deeply entrenched.He said the theme of the summit underscored the need to shift from compliance driven by external pressure to a more strategic, proactive and permanent culture of adherence to global standards.“Robust compliance is no longer a regulatory burden; it is our single most powerful competitive advantage. A compliant market is a transparent market, and a trustworthy market is the destination for capital.”According to him, Nigeria’s strengthened compliance regime signals to the international community that the country is “open for business, safe, secure and sophisticated.”Agama called for continuous improvement across institutions, especially through the adoption of RegTech and SupTech solutions, regular training of compliance officers, and promotion of ethical conduct across the financial services ecosystem.He assured stakeholders that the SEC would continue to provide strong regulatory guidance, constructive supervision and the necessary engagement to keep Nigeria aligned with global standards.The SEC DG urged participants at the summit to share insights and develop practical solutions that will “future-proof” the Nigerian capital market.“Let us work together to ensure that Nigeria never again finds itself on that list,” Agama said, expressing hope that the country would instead feature among the world’s most resilient and compliant emerging markets.In her remarks, Executive Commissioner Legal and Enforcement at the SEC, Frana Chukwuogor said the capital market has a new law that was signed by the President in 2025 saying that one of the greatest challenges that compliance officers and even market operators face, when there’s a change in regulation is that they don’t have enough information on what has changed.She said “How can you be compliant if you don’t know what has changed? So our focus here today is to bring attention, call attention to some of the new issues, some of the new areas that may pose risks to them and the market.Chukwuogor said some of those issues will deal with some of the threats being faced with Ponzi schemes and digital assets.”All of you remember that this October, this just past October, we were removed from the gray list. So, yes, we want every participant, every capital market operator, especially the CEOs, to first know, to compel the people who work with them, especially the compliance officers, to learn the new issues that the Investment and Securities Act 2025 requires of them.The Executive Commissioner disclosed that the Commission intends to measure compliance by ensuring that operators file returns adding that failure to do so could result in sanctions.

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Nigeria’s Inflation Rate Jumps to 15.69 Per Cent in April – NBS

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By Tony Obiechina, Abuja

Latest reports from the National Bureau of Statistics(NBS) indicates that Nigeria’s inflation rate for April 2026 reached 15.69% year-on-year, confirming a continued upward pressure from the 15.38% recorded in March.

Prince Adeyemi Adeniran, statistician General of the Federation in a statement said the report showed that the slight increase follows a rise in food and energy costs in March marking a halt to earlier disinflationary trends.

The NBS said following the completion of the recent rebasing exercise, the current report is centred on a new CPI base year of 2024 and a weight reference period of 2023, adding that the Consumer Price Index (CPI) increased to 138.

3 in April 2026, and reflects a 2.9-point increase from the preceding month.

According to the report, the month-on-month headline inflation rate in April 2026 was 2.13%, which was 2.05% lower than the rate recorded in March 2026 (4.18%).

‘At the divisional level, the three major contributors to the headline inflation were Food and non-alcoholic Beverages: 6.40%, Restaurants & Accommodation Services: 3.56%, andstatement Transport: 1.70%; while the least contributors a were Recreation, Sport, and Culture: 0.01%, Alcoholic Beverages, Tobacco, and Narcotics: 0.01%, and Insurance and Financial Services: 0.03%’.

The Food inflation rate in April 2026 was 16.06% on a year-on-year basis, lower than 24.68% recorded in April 2025.

Also, on a month-on-month basis, the Food Inflation rate in April 2026 was 3.63%, down by 0.54% points from March 2026 (4.17%). This can be attributed to the rate of change in the average prices of Millet Whole grain, Yam Flour, Ginger (Fresh), Beef, Garri, Yam Tuber, Pepper (Fresh), Cray Fish, Cassava Tuber, Beans, Irish Potatoes, Tomatoes (Fresh), Wheat Grain (Sold loose), Soy Beans, Guinea Corn, Plantain, Carrots (Fresh), among others.

Core Inflation, which excludes the prices of volatile agricultural produce and energy, stood at 15.86% in April 2026 on a year-on-year basis.  On a month-on-month basis, the core inflation rate was 1.03% in April 2026, down by 3.0% compared to March 2026 (4.03%).

The inflation rate of the sub-indices for April 2026 shows that the monthly change recorded were Farm Produce (6.0%), Energy (8.0%), Services (2.1%), Goods (3.2%) and Imported Food (4.4%).

Meanwhile, the inflation rate on a year-on-year basis recorded were as follows; Farm Produce (19.8%), Energy (4.6%), Services (16.7%), Goods (15.7%) and Imported Food (10.5%).

On a year-on-year basis, the urban inflation rate in April 2026 was 15.40%. On a month-on-month basis, the urban inflation rate was 1.86% in April 2026, down by 1.3% compared to March 2026 (3.16%).

The rural inflation rate in April 2026 was 16.36% on a year-on-year basis. On a month-on-month basis, the rural inflation rate in April 2026 was 2.80%, down by 3.93% compared to March 2026 (6.73%).

In analysing price movements under this section, it should be noted that CPI is weighted by consumption expenditure patterns that differ across States and locations.

Accordingly, the weight assigned to a particular Food or Non-Food item may differ from State to State making interstate comparisons of consumption basket inadvisable and potentially misleading

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ARKAN Builders Celebrates Gov. Hyacinth Alia at 60, Hails Visionary Leadership in Benue

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By David Torough, Abuja

ARKAN BUILDERS LIMITED has joined dignitaries, stakeholders, and well-wishers across Nigeria in celebrating the Governor of Benue State, Rev. Fr. Dr. Hyacinth Iormem Alia, on the occasion of his 60th birthday, describing him as a courageous leader whose vision continues to inspire hope and transformation.

In a goodwill message signed by the company’s Managing Director, Engr.

Mazen Kalassina, the construction firm praised Governor Alia for his dedication to purposeful leadership, integrity, and service to humanity.

According to the statement, Governor Alia’s leadership style reflects resilience, compassion, and a strong commitment to rebuilding confidence in governance and restoring dignity to the people of Benue State.

“Your remarkable journey demonstrates the strength of faith-led leadership rooted in integrity, compassion, and an unshakable resolve to build where others hesitated,” the statement read.
The company further noted that the governor’s achievements have inspired renewed optimism and laid a strong foundation for sustainable development in the state.

ARKAN BUILDERS LIMITED stated that, as an organization committed to creating lasting legacies and empowering communities, it deeply appreciates leaders who understand that true development goes beyond infrastructure to transforming lives and strengthening institutions.

The firm prayed for renewed strength, divine wisdom, good health, and greater accomplishments for the governor as he continues to lead the state with courage and purpose.

Governor Hyacinth Alia clocks 60 with widespread commendations from supporters and admirers who describe his administration as one driven by reform, hope, and visionary service.

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Excellence Award and Alia’s Transformational Impact for Greater Benue

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By Bridget Tikyaa

Just last week, Accolades Dynamics Limited bestowed an award of excellence for Governor Hyacinth Alia on his infrastructure revolution and impactful economic development of Benue State. To discerning minds, this is a recognition well deserved.

A recognition of impact and commitment to turning the sordid history of Benue State, which was run aground by the immediate past administration of the state.
In fact, the governor, on assumption of duty in 2023, described the situation in the state as very dire, but was quick to make a commitment: “My administration will not fail the Benue people. A lot of things went wrong in the State, but my government is here to rebuild and make it better for all.

This he has been doing boldly, without doubt. So, when the Governor won the Accolade Yellow Ball award as the best Governor in Infrastructure and Economic Development, it was an apt recognition of a leader who has vowed to raise Benue from the doldrums, a leader whose commitment to greater Benue is etched on solid infrastructure, human capital development, entrepreneurship, industrial revival, agricultural and educational transformation,a vibrant healthcare system, among others.

Those who issued the award said, under the leadership of Hyacinth Alia, Benue State has witnessed a remarkable wave of infrastructural renewal aimed at reconnecting communities and stimulating economic growth.

The recognised has massive road construction and urban renewal projects across the state, the completion and ongoing construction of dozens of intra city roads in Makurdi and other major towns, as well as hundreds of kilometers of rural road networks, bridges, and drainage systems designed to mitigate flooding, improve transportation, trade, and access to essential services.

Justifying the award further, they stated that the Governor’s infrastructure drive has transformed public facilities and government institutions through the renovation of schools, public offices, and key state structures, pointing out projects such as the Makurdi and Gboko underpasses, modernization of the State Secretariat, and rehabilitation of critical public infrastructure that reflect his vision of giving Benue a modern and functional outlook.

In all these, they were right because Governor Alia’s administration has been quite busy with several major infrastructure projects in Benue State. Some notable ones include over 390km of roads under construction across the 23 Local Government Areas, with 16 township roads completed and 25 more underway in Makurdi. There is also the multi-billion Naira Cancer Centre being built at the Benue State University Teaching Hospital, and the Otobi Water works in Benue South Senatorial District, which has been completed.

In the education sector, the government is undertaking the renovation and construction of schools, including a new university at Ihugh in Vandeikya LGA, as well as the massive recruitment and training of teachers.

In the area of industrialisation, the governor has revitalised the Benue Brewery Limited, producers of Zeva Premier Beer, the Benue Fruit Company, and the Taraku oil mill.

In digital transformation, three key digital platforms have been introduced: Benue State Geographic Information System (BENGIS) Portal, Electronic Document Management System (EDMS), and Benue Youth Startup and Innovation Support Portal.

These projects and more aim to improve access to healthcare, education, and public utilities while boosting economic growth and mobility in the state.

Governor Alia’s administration has also been working on several other initiatives to boost Benue State’s economic development. In agriculture, the government has subsidized fertilizers, provided tractors at affordable rates, and launched initiatives to boost agricultural productivity, aiming to restore Benue’s national lead as an agro-industrial hub.

Security and job creation are at the heart of any development. These are being pursued relentlessly. The dire security situation in the state when the administration came in 2023 has now been confined to three out of seventeen local government areas facing existential threats from armed groups and terrorists. The government not only set up a 5,000-strong Benue Civil Protection Guards but also created jobs through youth empowerment programs.

No doubt, these projects have improved the quality of life for Benue citizens, drive economic growth, and positioned the state as a hub for innovation and investment.

Governor Alia’s infrastructure projects are transforming Benue State, bringing numerous benefits to local communities, enhancing mobility and access to markets, schools, and healthcare facilities, providing clean water to residents, enhancing access to education, and ensuring overall economic growth.

Indeed, these projects have not only improved infrastructure but also restored confidence among the grassroots, with local people praising the governor’s inclusive governance and visible development. Benue is indeed in a safe hand, marching to unprecedented greatness under the able leadership of Rev. Fr. Hyacinth Iormem Alia.

Bridget Tikyaa Is the Principal Special Assistant to the Governor on Media, Publicity and Communications Strategy

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