NEWS
West Africa Emerging as Global Hotspot for Virtual Asset Adoption – SEC
By Tony Obiechina, Abuja
The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has said that West Africa, with its vibrant and youthful population, has become a global hotspot for virtual asset adoption.Speaking at the West Africa Compliance Summit organised by GIABA in Praia, Cape Verde, Dr.
Agama urged regulators across the sub-region to deploy Regulatory Technology (RegTech) and Supervisory Technology (SupTech) solutions to strengthen monitoring, detection, and reporting of suspicious activities. “These regulatory technologies are essential, given the explosive growth we’re witnessing in virtual asset adoption across the region,” he said.The summit was held under the theme: “Adapting and Thriving in a Complex and Evolving Compliance Landscape.On the growth of virtual assets in West Africa, he said: “Over $20 billion in remittances flowed into West Africa in 2024, yet traditional channels charged up to 10% in fees. Cryptocurrencies, particularly stablecoins like USDT and USDC, now offer faster, cheaper alternatives.“In Nigeria alone, crypto transactions exceeded $56 billion last year. The naira’s volatility, Ghana’s cedi depreciation, and forex shortages have pushed citizens toward “crypto-dollarisation.”“Young professionals increasingly demand salaries in stablecoins, and businesses use platforms like Binance Pay for cross-border trade. With over 60% of West Africa’s population under 25, mobile-first crypto solutions thrive.“Today, Nigeria ranks as the third-largest crypto adopter globally, after India and Vietnam”, he added.The SEC Nigeria DG however warned the growth has also attracted predators, stressing that high-profile scandals have wiped out millions in investor funds, “DeFi “rug pulls” continue to defraud unsuspecting users. GIABA reported $2.1 billion in suspicious crypto-linked transactions in West Africa in 2024, with terror groups exploiting privacy coins to evade detection.“Artificial crashes, unregistered exchanges absconding with funds, and inadequate oversight have resulted in billions in losses. Regulation, therefore, is not optional but an imperative”.Speaking on the Nigerian environment, Dr. Agama said the journey has been one of hard lessons and eventual clarity.“In 2021, the Central Bank banned banks from servicing crypto firms, pushing activity underground. In 2022, the SEC classified crypto as securities but lacked sufficient enforcement.“The Investment and Securities Act 2025 fundamentally changed the landscape. Cryptocurrencies, stablecoins, utility tokens, and NFTs are now formally recognised digital assets as seen in Section 355(4) and the Second Schedule, Part I of the Investments and Securities Act (ISA) 2025, which states that Investments include: Virtual assets, digital assets, and other distributed ledger technology (DLT) offers, tokens and products. Exchanges, wallets, and DeFi platforms must be licensed by the SEC”.He said the West African sub region can draw a lot of lessons from the Nigerian experience because financial crimes know no borders.“We must harmonize our regulatory frameworks, share intelligence, and adopt best practices to close loopholes exploited by bad actors. A trader banned in Nigeria simply relocates to Ghana. ECOWAS must adopt a Unified VASP Licensing System.“Nigeria intends to deploy AI surveillance tools for blockchain analytics to trace illicit activity. While we encourage innovation, we must ensure that emerging technologies like cryptocurrencies and digital assets operate within a framework that safeguards market integrity and protects consumers.“Our newly created Fintech and Innovation Department at the SEC frequently engages industry leaders, ensuring policies remain relevant and grounded. In addition to the recent collapse of the CBEX Ponzi scheme, which defrauded thousands of unsuspecting investors, the SEC has intensified its Ponzi Awareness Campaign, already conducted across key locations in Abuja and Lagos, with plans to extend to other states nationwide”, Dr Agama stated.NEWS
Joseph Undu Bags National Safety Personality Award in Lagos
By David Torough, Abuja
Award-winning Nigerian journalist and security analyst, Joseph Saater Undu, has been shortlisted for the prestigious Safety Personality Award at the 13th Nigeria Safety and Security (NSAS) Awards and Lecture, scheduled to hold on April 29, 2026, in Lagos.
The honour, organised by Safety & Security Watch Magazine under the auspices of the Media Centre for Promotion of Safety Awareness, is part of activities marking the International Labour Organization’s World Day for Safety and Health at Work.
According to the award selection panel, Undu was chosen in recognition of his “Outstanding contributions to health, safety, security and environment,” particularly through his investigative journalism and detailed reporting on criminality and national security issues.
The organisers also commended his deep understanding of Nigeria’s security architecture and his role in promoting public safety awareness.
With over 14 years of experience in mainstream journalism, Undu has built a reputation as a leading voice in crime, defence, and anti-corruption reporting.
He has worked with major national dailies, including Champion Newspapers, Vanguard Newspapers, and Daily Independent Newspapers, before transitioning to Abuja as a senior correspondent.
Undu is a Biographer and current president of Tiv Youth Organization (TYO) Abuja Chapter. He founder of the Benue Journalists’ Forum of Nigeria.
He is also an accomplished author, with works such as Positude: The Change We Need and Giant Footprints, a biography of former Inspector General of Police Usman Alkali Baba.
A recipient of the Golden Pen Award and an international poetry laureate, Undu has earned multiple recognitions for his contributions to media and literature.
In 2018, he was conferred with the traditional title “Ivaan I Tiv” (The Arrow of Tiv) by the Tiv Traditional Council in Lagos.
The 2026 NSAS Awards will feature lectures and discussions centered on the theme, “Promoting a Healthy Psychosocial Workplace,” with notable experts and policymakers expected to participate.
NEWS
Mutfwang Holds Close Door with Former State Governors
From Jude Dangwam, Jos
Plateau State Governor, Caleb Mutfwang has convened a strategic meeting with former governors of the state towards addressing the security challenges bedevilling the state.
The meeting held on Thursday at the News Government House Little Rayfield had the presence of former Governor Samuel Bitrus Atukum, former Governor Fidelis Tapgun, former Governor Joshua Dariye, former Governor Jonah David Jang and Former Governor Simon Lalong respectively.
Mutfwang maintained that the high-level engagement critically reviewed the prevailing security situation, particularly the recent violent attacks in rural communities across the state.
He noted that discussions were focused on fostering sustainable peace, strengthening unity, and promoting harmonious coexistence among all residents.
According to Governor Mutfwang, “I convened a strategic meeting with distinguished leaders and former Governors of Plateau State on Tuesday at the Government House, Little Rayfield, Jos. The meeting deliberated extensively on matters concerning the well-being, welfare, progress, and overall prosperity of the people of Plateau State.
“The high-level engagement critically reviewed the prevailing security situation, particularly the recent violent attacks in rural communities across the state. Discussions were focused on fostering sustainable peace, strengthening unity, and promoting harmonious coexistence among all residents.
“The leaders collectively resolved to pursue justice for all and to establish robust frameworks that reflect the enduring courage, discipline, hospitality and patriotism of the Plateau people within the Nigerian project,” he stated
The Governor reiterated that, “Emphasis was also placed on rebuilding fractured relationships and restoring trust, with the aim of reinforcing Plateau State’s longstanding identity as the Home of Peace and Prosperity,” says Mutfwang.
Foreign News
Pope Criticises ‘Tyrants’ Who Spend Billions on Wars after Trump Spat
Pope Leo has criticised leaders who spend billions on wars and said the world was “being ravaged by a handful of tyrants” in unusually forceful comments during a visit to Cameroon.
The pontiff blasted those he said had manipulated “the very name of God” for their own gain, while touring a region ravaged by a deadly insurgency.
The remarks come just days after a high-profile spat with US President Donald Trump, who posted a lengthy attack on the Pope, a vocal critic of the US-Israeli military operation in Iran.
The Pope had voiced his concern about Trump’s threat that “a whole civilisation will die” if Iran did not agree to US demands to end the war and open the Strait of Hormuz.
Leo, who last year became the first US-born Pope, has previously also questioned the Trump administration’s approach to immigration.
“Leo should get his act together as Pope,” Trump wrote in a Truth Social post at the time.
The Pope told reporters at the start of his Africa tour that he did not want to get into a debate with Trump but would continue to promote peace.
Speaking in Cameroon, the Pope criticised leaders who “turn a blind eye to the fact that billions of dollars are spent on killing and devastation, yet the resources needed for healing, education and restoration are nowhere to be found”.
“The masters of war pretend not to know that it takes only a moment to destroy, yet often a lifetime is not enough to rebuild,” he said on Thursday.
The Pope also condemned “an endless cycle of destabilisation and death” in a “bloodstained” region of Cameroon that has been gripped by insurgency for nearly a decade.
“Those who rob your land of its resources generally invest much of the profit in weapons, thus perpetuating an endless cycle of destabilisation and death,” he told those gathered at a cathedral in the north-western city of Bamenda – the centre of the violence that has left at least 6,000 people dead and displaced many more.
“Peace is not something we must invent: it is something we must embrace by accepting our neighbour as a brother and as our sister,” the Pope said.
Separatist insurgents in Cameroon’s two Anglophone regions have been fighting the predominantly Francophone government since 2017.
Following Leo’s address, the Archbishop of Canterbury, Sarah Mullally, said that she stood with the Pope in his “courageous call for a kingdom of peace”.
The war in Iran has increasingly placed the Pope and the Trump administration at odds.
Soon after the first US and Israeli attacks on Iran, US Defence Secretary Pete Hegseth recited a highly controversial prayer at a Pentagon worship service that talked of “overwhelming violence” and “justice executed swiftly and without remorse”.
Then, during a Palm Sunday Mass in St Peter’s Square, the Pope said the conflict between Iran, Israel and the US was “atrocious” and that Jesus could not be used to justify war.
“This is our God: Jesus, king of peace, who rejects war, whom no one can use to justify war,” he told tens of thousands of worshippers gathered in Vatican City.
“He does not listen to the prayers of those who wage war, but rejects them.”
The pontiff also quoted the Bible passage Isaiah 1:15: “Even though you make many prayers, I will not listen: your hands are full of blood.”
Earlier this week, Trump launched a scathing attack on the Pope on social media, in which he described the leader of the Catholic Church as “WEAK on Crime and terrible for Foreign Policy” while portraying himself as a Jesus-like figure.
He later doubled-down on his criticism and refused to apologise – but deleted the AI-generated image of himself.
Asked about the US president’s remarks as he arrived in Algiers, the Pope said he had “no fear” of the Trump administration and that he would continue to speak out against war.
The Catholic leader’s wide-ranging Africa tour will include stops in 11 cities across four countries. It is his second major foreign visit since being elected to the papacy last year, and reflects the importance of Catholicism in Africa.
More than a fifth of the world’s Catholics – some 288 million people – live in Africa, according to figures from 2024.

