By Tony Obiechina, Abuja

The Securities and Exchange Commission (SEC) has said that listed companies declared dividends totaling N1.1trillion to shareholders in 2024.The Director-General of SEC, Dr Emomotimi Agama disclosed this at the first quarter Capital Market Committee (CMC) meeting recently in Lagos.

Agama said out of the amount, listed companies had already paid N1. 0 trillion to shareholders. This according to him reflects improved market confidence and investor returns.The director-general added that the commission between January and December 2024, had approved a total of N3.68 trillion in new issues.”This comprised N59.82 billion in fixed income issuances and N3.62 trillion in equities, reflecting strong investor appetite and issuer confidence in the equity segment of our market.”For the period spanning January to April 2025, we have so far approved new issues valued at approximately N446.38 billion.”Of this amount, N265.90 billion was raised through fixed income instruments, while N180.48 billion was mobilised via equities,” he said.Speaking on mergers and acquisitions, Agama said the commission in 2024 approved 11 transactions with an aggregate value of N320.36 billion.”Most notable of these was the acquisition of a 58.02 per cent equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., valued at over N103.7 billion.”There were also three corporate restructuring transactions, two share capital reconstructions, one takeover, and four registrations of securities.”Among the notable corporate restructuring transactions was the scheme of arrangement involving Flour Mills of Nigeria Plc, valued at over N105 billion, and the share capital reconstruction by Transnational Corporation Plc, which saw a one-for-four share consolidation amounting to N5.08 billion,” he said.Speaking further, he said the commission had approved three major transactions year-to-date worth N38.53 billion.”This includes two takeovers and one corporate restructuring. While no mergers have been recorded within the review period, the pace of market activity remains steady, with continued interest in strategic consolidation and reorganisation across key sectors.”These activities reflect continued strategic realignments within the market,” he said.On collective investment schemes, Agama said that it recorded robust expansion with a combined net asset value of N3.84 trillion as of the fourth quarter of 2024.”Registered mutual funds reached 184 in number, with a combined net asset value of N3.84 trillion and over 800,000 unitholders.”Privately managed portfolios and products grew to 444 vehicles with assets under management totaling N4.69 trillion. In aggregate, 82 active asset management firms oversee N8.53 trillion in investments.”These figures reflect a maturing market where professional fund management is increasingly recognised as a critical driver of capital formation and wealth creation.”These figures are indicative of sustained activity in the market, particularly as issuers continue to leverage both the debt and equity segments to finance growth and investment,” Agama added.

By Johnson Eyiangho and Laide Akinboade, Abuja

A high-level coalition meeting involving former Vice President Atiku Abubakar, Labour Party’s Peter Obi, former Rivers State Governor, Rotimi Amaechi and others descended into chaos as delegates from Jigawa State disrupted the proceedings.

The ongoing coalition meeting at the Abuja Continental Hotel, organised by the National Political Consultative Group (North), was briefly disrupted following a disagreement over representation for Jigawa State.

Tensions rose when former Secretary to the Government of the Federation, Babachir Lawal, announced a delegate to speak for the state.

In protest, several Jigawa delegates stormed the stage, blocking the individual from speaking and insisting they would not be represented by those named.

As the confrontation escalated, security personnel, including members of the Nigerian Police, DSS, and private guards, quickly formed a protective barrier around key figures such as Atiku, Amaechi and others.

Calm was restored after several minutes of appeals, as Mustapha Lamido, son of former Jigawa State Governor Sule Lamido, along with another delegate, was chosen to speak on behalf of the state.

PDP Defies Wike, Vows to Hold NEC Meeting at Wadata Plaza

Despite threats to seal the Peoples Democratic Party (PDP) Secretariat by Federal Capital Territory Minister, Nysom Wike by Monday, the party insisted that it will go ahead with its 99th National Executive Council (NEC) meeting scheduled to hold on Tuesday, at the Secretariat.

Federal Capital Territory (FCT) minister, Nyesom Wike had directed that the national secretariat of the Peoples Democratic Party (PDP) in Abuja and 4793 other properties be sealed on Monday.

The Federal Capital Territory Administration (FCTA) had in March 2025 revoked the PDP Secretariat located at Wadata Plaza, Wuse Zone 5, Abuja, and 4793 other properties.

Senior Special Assistant on Public Communications and Social Media to the Minister, Lere Olayinka, said the properties would be sealed Monday (today) at a joint news conference on Friday with the Director of Land Administration, Chijioke Nwankwoeze, and Director Department of Development Control, Mukhtar Galadima.

However, a statement by the PDP National Publicity Secretary, Hon. Debo Ologunagba, yesterday reminded NEC members that the scheduled meeting will be held on Tuesday at the same venue.

Ologunagba recalled that the PDP National Working Committee (NWC) 600th meeting held on Tuesday, 29th April, 2025 resolved to hold the 99th NEC meeting on Tuesday, 27th May, 2025.

He advised all NEC members to attend the meeting. The PDP NEC Meeting had been postponed several times before now.

PDP Crisis: Wike Withdraws from PDP Peace Talk

The Federal Capital Territory (FCT) Minister, Nyesom Wike, at the weekend, said that he was pulling out of all previous agreements reached to resolve the lingering crisis in the People’s Democratic Party (PDP), vowed to “fight on until justice is attained.”

The FCT Minister, who said he had pointed out to the Oyo State Governor. Seyi Makinde, that he was the architect of the party’s present problems, disclosed that he told Governor Makinde that “non-adherence to agreements reached was the bane of the party, and that he was the chief culprit of this anomaly.”

This was contained in a statement titled; “PDP Crisis: My Position,” which he personally signed, the Minister insisted that resolutions reached that Senator Samuel Anyanwu remained the National Secretary of the PDP in tandem with the Supreme Court judgement, all legal matters relating to Rivers State must be withdrawn by the National Legal Adviser, the suit on the State of emergency be withdrawn forthwith and that nobody should deviate from the agreements so reached, must be respected by all the parties involved.

“Since after the 2023 General election, the PDP has been wantonly swinging from one part of a slippery precipice to another, owing fundamentally to dishonesty and lack of trust amongst its key stakeholders. “To stem this ugly trend, efforts have been made to arrest this pernicious virus of dishonesty and treachery and enthrone fidelity to agreements with a view to stabilizing the party and moving it forward.

“To this end, a meeting of the G5 was held in Lagos. In that meeting, I made it clear to the Governor of Oyo State, HE. Seyi Makinde that he was the architect of our problems, pointing out to him that non-adherence to agreements reached was the bane of the party, and that he was the chief culprit of this anomaly. At the end of the meeting, we resolved to bury the hatchet and make progress.

“As a follow-up to the aforementioned meeting, there was an expanded meeting in Abuja involving HE. Seyi Makinde, HE. Umaru Fintri, HE. Bala Mohammed, HE, Bukola Saraki and I in Saraki’s guest house. In that meeting, I made it clear that I had no personal problems with HE. Bala Mohammed, except that he hides under the facade of Chairman of PDP Governors Forum to serially renege on agreements. Tensions rose mightily in the meeting and it took all concerned to calm frayed nerves. At the end of the meeting, we came to some resolutions, including: that Senator Samuel Anyanwu remains the National Secretary of the PDP in tandem with the Supreme Court judgement, all legal matters relating to Rivers State must be withdrawn by the National Legal Adviser, the suit on the State of emergency be withdrawn forthwith, and nobody should deviate from the agreements so reached.

“In the light of the foregoing, they pleaded with me to attend the stakeholders’ meeting at the Bauchi Government Lodge, regardless of my many engagements. I attended the meeting and clearly reiterated my earlier concerns, and to this end and in order to resolve all other lingering and pending issues, a committee was formed, headed by HE. Bukola Saraki.

“It is disheartening to note that even before the Bukola Saraki Reconciliation Committee began its work, the gentleman’s agreement we reached at Saraki’s Guest House was already being crudely violated. To my chagrin, Seyi Makinde had connived with Peter Mba of Enugu State to orchestrate the summoning of the meeting of so-called South-East leaders to recommend that if Ude Okoye was not adopted as Secretary, they would pull out of the PDP. I have since granted an interview to the effect that, that resolution of the South-East leaders can not hold.

“Again, Seyi Makinde organized some people in the National Secretariat to insist that the Deputy National Secretary should act as National Secretary, in violation of the agreement earlier reached. To attempt to give credence to this farce, a letter was written by the Deputy National Secretary, calling for a meeting of the NEC of the party. Furthermore, the letter confirming the candidacy of the Governorship candidate of the party in the forthcoming Governorship elections in Anambra State, duly signed by the National Secretary, Senator Anyanwu and the acting National Chairman, was portrayed as rejected by the party through a rebuttal letter signed by the National Publicity Secretary, acting on the orders of Seyi Makinde and Peter Mba. All these actions are in complete violation of the agreements reached and would not do the party any good whatsoever. On the 24th of May 2025, in Jos, for instance, a well publicized and properly attended zonal elective congress of the PDP was aborted because the letter inviting INEC to the congress was signed by the Deputy National Secretary of the party. INEC refused to attend because the proper signatory recognized by law, that is Senator Samuel Anyanwu, was not a signatory to the invitation notice. This is undeniably distasteful, provocative and annoying, to say the least.

“I have painstakingly put out all these facts so that PDP members and the general public would know the truth. I have been in this party since 1998 and have worked tirelessly for the survival of this party with all my strength and it is on record that none of these persons have done anything close to what I have done to sustain this party. What is more painful is that I contributed substantially to most of these governors winning their elections, yet I have not made any personal demands on any of them and I would never do so.

“Most importantly, I had thought that we could keep the trust amongst us, but since it is now obvious that they would continue to play games to the detriment of the party, as is the case in the current debacle in the North-Central zonal elections, I have now firmly decided to pull out of all agreements hitherto reached. I have decided to fight on until justice is attained,” the statement read.

By David Torough, Abuja

The 22 All Progressives Congress (APC) governors yesterday adopted President Bola Tinubu as the sole presidential candidate of the party for the 2027 general elections.This was even as the leaders of both the Senate and the House of Representatives expressed their full support for Tinubu’s second term, stating that the country is currently on a path of growth and progress.

The Progressives Governors’ Forum (PGF’s) Chairman and governor of Imo State, Sen. Hope Uzodimma, spoke on behalf of all the governors at the National Summit of APC at the Banquet Hall of the State House, Abuja.The governors also passed a vote of confidence in President Bola Tinubu.The Vice Chairman of the PGF and Governor of Kaduna State, Senator Uba Sani, joined Governor Uzodimma on the podium to second the motion for the adoption of the President as APC presidential candidate for 2027 poll.Thereafter, Uzodimma put the motion to vote before the participants at the National Summit.Those present were Vice President Kashim Shettima; Senate President, Godswill Akpabio; members of the National Assembly; serving and former governors, and APC members from across the 36 states and the Federal Capital Territory.They, through voice vote and standing ovation, adopted President Tinubu for a second term in office come 2027.Uzodimma said the governors were united in their support for Tinubu’s re-election bid.He said: “That for Nigeria to get to her destination faster in prosperity, that the president should be used and adopted as our flag bearer for the 2027 presidential election, for a second term in office.“That the governors produced by our All Progressives Congress are hereby charged to take responsibility to market our federal government policies, occupy the political space in their domains, and take responsibility for winning all elections in their states come 2027.“It is therefore my humble pleasure, with total humility, to Almighty God to move that this August assembly adopt and concur the position of progressive governors that Mr President carries our flag 2027 and governors take responsibility for delivering this mandate. I’m so move as a motion.”Governor Sani seconded the motion: “I rise to second the motion as ably moved by the chairman of Progressives Governors Forum, the governor of Imo state, His Excellency, Hope Uzodimma, that this August gathering pass a vote of confidence on our able and amiable president, President Bola Ahmed Tinubu, as a sole candidate of APC come 2027 general election.NASS Leadership Endorses Tinubu for 2027 ElectionThe leaders of both the Senate and the House of Representatives have expressed their full support for President Bola Tinubu’s second term, stating that the country is currently on a path of growth and progress.Senate President Godswill Akpabio, who moved the motion on Thursday during the APC National Summit at the State House banquet hall in Abuja, acknowledged that the 2023 election posed significant challenges for President Tinubu.Joined by the Speaker of the House of Representatives, Tajudeen Abbas, Deputy Senate President Barau Jibrin, and Deputy Speaker Benjamin Kalu, among others, Akpabio expressed optimism about the future.He predicted that Tinubu would secure even more states in the 2027 elections, stating that he sees a clear shift in momentum in the President’s favour.Akpabio remarked that despite the challenges, President Tinubu is actively working to reposition Nigeria.The Senate President stated that with opposition parties, particularly the PDP, in disarray, President Tinubu should be re-elected in 2027 as the sole candidate.Akpabio’s position was fully supported by other National Assembly leaders, with no dissenting voices.APC Endorses Tinubu for 2027 Presidential RaceThe All Progressives Congress has endorsed President Bola Tinubu as its flag bearer in the 2027 presidential elections.The Party’s National Chairman, Dr. Abdullahi Ganduje, announced this yesterday, on behalf of its National Working Committee, at its National Summit held at the State House Banquet Hall, Abuja.The endorsement came hours after APC governors and lawmakers cast a vote of confidence on the president and endorsed him for a second term.‘Sweep them Clean,’ Bring More Opposition Members – TinubuPresident Bola Tinubu has welcomed the gale of defections in the ruling All Progressives Congress, saying he expects more opposition party members to join his party.The President said this at the APC National Summit on Thursday in Abuja.In his speech, the President said he is happy about the wave of defections into the APC and urged the ruling party’s leadership to bring in more opposition members.President Tinubu also slammed critics who accused his government of installing a one-party state due to the recent gale of defections. He said those defecting to the APC should not be blamed because they were in a sinking ship.The President said, “You don’t blame people bailing out of a seeking ship, when they have no life jacket. I am glad of what we have and I’m expecting more to come. That’s the game. We are in a constitutional democracy; don’t forget the freedom of movement and freedom association is not criminally punishable. Welcome to the progressives, sweep them clean.”Earlier, the APC National Working Committee members led by the party’s National Chairman, Abdullahi Ganduje, endorsed President Tinubu for a second term.The endorsement followed the National Assembly’s declaration of support for the President as their sole candidate for the 2027 presidential election.Sen. Godswill Akpabio, the President of the Senate, moved the endorsement, which was seconded by Hon. Tajudeen Abass, the Speaker of the House of Representatives.Defect with Me to APC or Resign, Gov Eno Tells Commissioners, OthersAkwa Ibom State Governor, Pastor Umo Eno, has directed all commissioners and political appointees in his cabinet to either defect with him to the All Progressives Congress, APC, or resign from their positions.The directive was reportedly issued during an ongoing State Executive Council (EXCO) meeting on Thursday, where the governor openly confirmed his decision to leave the People’s Democratic Party, PDP, for the APC.Sources present at the meeting disclosed that Governor Eno made it clear that his defection should come as no surprise to any of his appointees, stating:“Anybody who claims he is not aware of my intention to leave the PDP is still living in the 18th century,” he said.He explained that his decision to align with the APC was driven by his admiration for the leadership style of President Bola Tinubu, adding that he wants to work more closely with the Federal Government.The governor issued a stern warning to his appointees, saying he has “nothing to negotiate” with anyone unwilling to follow his political direction.“Apart from elected officials like House of Assembly members and Local Government Chairmen, I have nothing to negotiate with you,” Eno declared.“Let me tell you, anybody who believes that when I leave the PDP he will use the party structure to fight me is lying, because I will still control the PDP structure.”As of the time of filing this report, the State Executive Council meeting was still in session, with further developments expected in the coming hours.Nigerian Voters, not Govs ‘ll Decide Tinubu’s Fate in 2027 – WabaraOn the contrary, former Senate President and the Chairman Board of Trustees, BoT, of Peoples Democratic Party, PDP, Senator Adolphus Wabara, has said that the Nigerian electorate, and not a few governors, will decide the fate of President Bola Tinubu in 2027.Senator Wabara was reacting to the adoption of Tinubu by APC governors as their sole candidate for the 2027 presidential race.However, he commended the governors for giving the President the right of first refusal, which he acknowledged “is a global practice and tradition”. But he added that being the flag bearer of the ruling party does not translate to automatic victory at the pool.Senator Wabara recalled that in 2015, PDP’s presidential flag bearer, President Goodluck Jonathan, was a sitting President but lost to the then opposition APC’s candidate.The former Senate President told the APC governors to allow President Tinubu’s work to speak for him.He said that the Nigerian masses “Who on a daily basis, feel the impact of the APC-led Federal Government, are the only ones to decide the President’s fate in 2027”.The PDP BoT Chairman argued that “it’s too early to overheat the polity with 2027 elections when INEC has not lifted the ban on campaigns.He “advised APC governors to rather concentrate on how to make life affordable for Nigerians, who are battling to survive the hardship inflicted on them by APC’s maladministration”.The former Senate President accused the APC of foisting one party system on Nigeria. He warned of the grave danger such drifting poses to the country’s democracy.