LCFE, SEC warn young investors against online investment sca006D

The Lagos Commodities and Futures Exchange (LCFE), the Securities and Exchange Commission (SEC) and other capital market stakeholders have urged young Nigerians to verify investment opportunities and beware of fraudulent schemes, particularly those promoted through social media.

The warning was issued at the LCFE’s sixth Annual Financial Literacy Seminar in Lagos on October 22, held to commemorate World Investor Week 2026 under the theme, ‘Invest Smart, Stay Alert: Protecting Investors from Commodity Investment Scams.’

The seminar brought together students from secondary schools and tertiary institutions, alongside representatives of key financial market institutions, to promote financial literacy, responsible investing and awareness of investment fraud.

Representing Akin Akeredolu-Akeredolu, Managing Director, LCFE, the Head of Operations, Nkechi Obi-Chidi, urged the students to become ambassadors for Nigeria’s capital market by promoting legitimate investment opportunities and encouraging others to verify investment schemes with the SEC before committing funds.

She emphasised the importance of distinguishing regulated investment opportunities from fraudulent schemes as young Nigerians increasingly encounter financial promotions across digital platforms.

Kelechi Azubuike-Luke, Senior Manager, Financial Literacy Technical Committee, Securities and Exchange Commission (SEC), who represented the Commission, cautioned participants against schemes promising guaranteed profits or unusually high returns. She advised investors to confirm the registration status of capital market operators through the Commission’s official channels and avoid making investment decisions based solely on peer pressure or social media endorsements.

Speaking on behalf of the Association of Securities Dealing Houses of Nigeria (ASHON), Athan Ogbozor, Executive Secretary,

ASHON commended the Exchange for sustaining the financial literacy initiative.

Ogbozor urged investors to question promises of unrealistic returns and verify the regulatory status of investment operators, noting that the growing use of social media to promote investments makes investor vigilance increasingly important.

Onome Komolafe, Divisional Head, Business Services and Client Experience at the Central Securities Clearing System (CSCS), stressed the need for investors to understand investment products before committing their money.

She encouraged young people to exercise patience and discipline in building wealth, adding that sustainable financial growth depends on knowledge, informed decisions and a clear understanding of investment risks.

The speakers agreed that investor protection requires collective responsibility among regulators, exchanges, market operators and the investing public.

A major highlight of the seminar was the presentation of awards to winners of the financial literacy essay competition, which challenged students to examine investment scams and demonstrate their understanding of responsible investing.

At the tertiary level, Sesugh Innocent Tyokosu, a 300-level law student of Rev. Fr. Moses Orshio Adasu University, Makurdi, Benue State, emerged first, while OdunmbakuDaniel Odunayo of the Department of Economics, Caleb University, Lagos, took second place.

In the secondary school category, Enilama Jesse, a Year 11 (SSS2) student of STandT Regency International School, won first place, while Oseremen Omoyemen Oseghale of Corona Day Secondary School, Lekki, finished second.

The competition provided a platform for students to engage with investment fraud, financial responsibility and the importance of investor protection, reinforcing the role of financial education in promoting informed participation in the capital market.

LCFE said its annual financial literacy programme reflected its continued commitment to educating the public about commodity markets, investment risks and the importance of dealing with appropriately regulated market operators.

The seminar ended with a call on young and prospective investors to verify investment opportunities, question promises of quick profits and prioritise informed financial decisions over the pursuit of unrealistic returns.

The Last Conversation brings Tanzania’s mental health crisis to the screen at TASUBA

Tanzanian short film The Last Conversation, which confronts the devastating consequences of unresolved anger, jealousy and silence within families, is set to be screened at TASUBA on October 31, 2026, offering audiences an opportunity to reflect on the mental health challenges that often remain hidden behind closed doors.

The screening, scheduled for noon, comes as the film draws attention to the need for more open conversations about mental health, emotional well-being and the importance of seeking professional help before personal struggles escalate into tragedy.

Produced by Dar es Salaam-based Who Media Productions, The Last Conversation is a Swahili-language film inspired by true events. It centres on James, a seemingly successful husband and father whose unresolved insecurities gradually poison his marriage, illustrating how unaddressed emotional distress can destroy family relationships.

As tensions grow, what begins as conflict within the home escalates into a devastating domestic tragedy. Through its portrayal of jealousy, anger and family trauma, the film examines how emotions left unaddressed can have irreversible consequences, particularly when individuals struggle to communicate their feelings or seek appropriate support.

Rather than presenting mental health as an issue that exists outside everyday life, the production places it within familiar family and relationship dynamics. Its central message is that recognising emotional distress and seeking professional assistance are essential steps towards preventing harm to individuals and those around them.

The film is also the flagship project of Who Media Impact, the social-impact arm of Who Media Productions, which uses storytelling to address social challenges, challenge stigma and encourage conversations around issues that are often left unspoken.

In its October 19 report on the production, The Citizen highlighted the film’s approach to confronting cultural barriers that discourage people from speaking openly about mental health, including depression, jealousy and family trauma.

The TASUBA screening on October 31 will provide another opportunity for audiences to engage with the film’s message and consider the importance of addressing emotional struggles before they lead to irreversible consequences.

Decoupling sovereignty index (4): Money, land, mind as diagnostic vectors

In the earlier instalments of this series, we left the comfort of capital city seminar rooms to confront the reality of fractured spaces. We established the operational safety protocols and deep immersion methodologies necessary for a researcher to step onto the tarmac and observe a territory where the formal state has receded.

But collecting raw street-level observations is only the first half of the battle. This instalment lays out the full indicator architecture of the Decoupling Sovereignty Index (DSI) – the nineteen-indicator diagnostic engine designed by the Sundiata Post Knowledge Lab to score, weight, and track the velocity of sovereign decay across three vectors: Money, Land, and Mind.

The Three-Vector Operational Matrix

The DSI does not look at states as passive recipients of macro-shocks. It maps the active, asymmetric peeling away of de facto governance across three vectors. Each vector is calculated on a scale of zero to ten based on specific, observable field indicators. A score of zero represents total formal state function. A score of ten represents complete sovereignty decoupling. The nineteen indicators are distributed across three vectors: six for Money, seven for Land, and six for Mind. Each vector contributes equally-one third-to the composite DSI score, regardless of the number of indicators it contains. This weighting ensures that no single dimension of sovereignty decoupling dominates the composite or masks developments across the other two.

Why Nineteen Indicators

The nineteen indicators are a deliberate design, not an accumulation. Shadow Order environments punish single-source measurement: respondents self-censor, official data is compromised, and any one signal can be an artefact of local circumstance. The DSI therefore builds in overlap on purpose. Adjacent indicators, such as L2 and L4 or M6 and L6, observe related phenomena from different angles, so each score can be checked against its neighbour. Where they diverge, the divergence is itself diagnostic. Because each vector carries one third of the composite, the seven Land indicators weigh slightly less individually than those of the Money and Mind vectors. This is intended: territorial decoupling has more dimensions, but it is not allowed to dominate the composite. Where full fieldwork is not feasible, a minimum scoring set of anchor indicators (M1, L2, MD2 and MD5) gives a provisional reading, to be completed to all nineteen for the formal DSI record.

Universal Indicators, Context-Specific Sub-Indicators

The nineteen indicators are universal. They measure the same dimensions of sovereignty decoupling in every zone, which keeps scores comparable across contexts. How each indicator is observed, however, depends on the setting. Each indicator therefore carries context-specific sub-indicators, selected according to the peculiarities of the zone under assessment, including its economic structure, terrain, population characteristics, livelihood systems, settlement patterns, and prevailing security and governance conditions. These factors determine how sovereignty decoupling manifests and how it can be observed in different environments, whether agrarian, pastoral, mining, riverine, or urban. Such adaptations shape how each indicator is measured without altering its underlying meaning, thereby preserving consistency across zones.

The sub-indicators used, and the reasons for choosing them, are recorded with every zone score. Their detailed specification is set out in the DSI Methodology and Indicator Manual.

The Money Vector: Fiscal Sovereignty Indicators

This vector measures the structural insulation of a local economy from the formal state apparatus and central bank – tracking the exact point where state fiscal tools lose their operational teeth. It carries six indicators.

M1 – Parallel Taxation Rate. The frequency, consistency, and monetary toll of shadow levies imposed by non-state actors on commercial activity, market stalls, artisans’ work permits, and the transport of goods. M1 is the anchor indicator of the Money vector – the most directly observable and earliest signal of fiscal sovereignty decoupling. It is scored through direct field count of shadow levy collection points and trader testimony on levy frequency, amount, and enforcement character. Levies on agricultural output at the point of production are scored under M6.

M2 – Formal Tax Compliance Deficit. The gap between the state’s projected revenue expectations and actual tax collection within the micro-environment – measured primarily through field observation rather than state-published data, which in high-decoupling zones is itself a product of the Institutional Mirage.

Observable through the proportion of businesses reporting formal tax payment in the current cycle and the operational status of revenue offices within the zone.

M3 – Shadow Currency Penetration. The degree to which unofficial mediums of exchange displace official legal tender in commercial transactions. Scored through the proportion of observed market transactions conducted in foreign currency, commodity barter, or informal tokens, and through the parallel market exchange rate premium within the zone. Scoring thresholds are anchored to IMF parallel market premium research, World Bank informal economy thresholds, and context-specific Central Bank data – weighted inversely to the zone’s overall DSI score, since the higher the decoupling the less reliable formal monetary authority data becomes.

M4 – Remittance Dependency Ratio. The extent to which household survival depends on external transfers rather than state-linked economic activity. M4 is a change-sensitive indicator – only remittance dependency that has intensified during or following decoupling onset contributes to the score. A pre-decoupling baseline is required for reliable scoring. Without it, M4 must carry a reliability flag in the composite DSI record.

M5 – Formal Banking Exclusion Rate. The deterioration of formal banking access to wealth storage and credit during or following sovereignty decoupling onset – distinct from pre-existing structural underdevelopment of financial infrastructure. M5 measures deterioration rather than absolute absence, ensuring the DSI does not conflate structural underdevelopment with active sovereignty decoupling. A pre-decoupling baseline is required.

M6 – Harvest Tax Rate. The shadow order’s direct extraction from agricultural yield at the point of production – the monetary toll imposed on farmers at the moment their labour crystallises into a tangible, countable, and transportable commodity. Distinct from farming levies which tax land access and belong to the Land vector.

The Land Vector: Territorial Sovereignty Indicators

This vector maps the physical and spatial contraction of the state’s productive geography – tracking roads, fields, courts, and checkpoints not as lines on a map but as the active arteries and organs of shadow order territorial control. It carries seven indicators – one more than the Money vector, reflecting the greater empirical complexity of territorial sovereignty decoupling across its physical, spatial, and institutional dimensions.

L1 – State Security Footprint Index

The true geographic and operational reach of formal state security forces versus the territorial perimeter dominated by a Shadow Order – capturing whether formal forces are garrisoned in isolated urban barracks or can safely and consistently patrol the interior. The critical distinction is between operational and ceremonial security presence. A formal security convoy that moves only between fixed points on a predictable schedule without engaging shadow order activity scores closer to ten than zero regardless of its physical presence within the zone.

L2 – Shadow Checkpoint Density

The frequency, location, and structural permanence of non-state territorial control points and roadblocks relative to formal military or police outposts along critical transit corridors. Scored through direct field count of shadow checkpoints per kilometre of transit corridor and transporter testimony on checkpoint consistency and enforcement character. Transport cost differentials between zones with and without confirmed shadow checkpoints provide a corroborating economic signal – shadow checkpoint taxation embeds itself in transport pricing as a structurally observable market reality.

L3 – Agricultural Displacement Rate

The percentage of fertile productive agrarian land vacated, abandoned, or forcibly occupied due to non-state violence or shadow order territorial control. L3 requires a pre-decoupling baseline to distinguish sovereignty-driven displacement from natural causes.

L4 – Transport Route Capture

The proportion of primary and secondary movement corridors controlled, monitored, or systematically taxed by shadow actors. Analytically distinct from L2 – shadow checkpoint density measures the nodes of control while transport route capture measures the arteries. A zone can have low checkpoint density but high route capture where shadow authority is enforced through mobile rather than fixed control mechanisms. Both indicators are necessary for a complete territorial sovereignty picture.

L5 – Formal Justice Absence Index

The physical retreat, closure, or total operational paralysis of state magistrate courts, police divisions, and formal legal enforcement mechanisms – and the degree to which shadow order dispute resolution has filled the resulting vacuum. L5 is directly corroborated by MD1 – Population Trust Transfer Index – in the Mind vector. Where formal justice is entirely absent and shadow dispute resolution commands community compliance, the Mind vector should independently corroborate through measurably reduced institutional trust in formal state authority.

L6 – Farming Levy

The shadow order’s territorial taxation of the right to occupy and use productive agricultural land – imposing recurring levies on farmers for continued land access, distinct from harvest tax which extracts from yield. L6 is the Land vector’s most direct empirical link to the Money vector. Its placement in the Land vector reflects its primary character as a territorial control mechanism – the shadow order asserting ownership rights over productive land rather than merely extracting commercial revenue from it. Farming levies must be distinguished from legitimate customary land use tribute systems that predate decoupling and carry community consent.

L7 – Population Displacement and Return Patterns

The degree to which civilian movement into, out of, and within the zone reflects confidence in or fear of the prevailing territorial authority. L7 is simultaneously a territorial sovereignty signal and a cognitive sovereignty signal – people vote with their feet for the authority they believe can protect them. A pre-decoupling baseline is required for reliable scoring.

The Mind Vector: Cognitive Sovereignty Indicators

This vector targets the ultimate battlefield – the invisible shift in human consciousness that determines which authority the population recognises, obeys, and protects. The Mind vector is the most methodologically challenging of the three because cognitive sovereignty is the least directly observable dimension of decoupling. Its six indicators are therefore designed around behavioural proxies – what people demonstrably do – rather than attitudinal surveys alone, which are unreliable in Shadow Order environments where respondents self-censor.

MD1 – Population Trust Transfer Index

The measurable expressed shift in trust away from formal judicial and administrative state bodies toward alternative traditional, religious, or armed arbiters. MD1 measures institutional trust – which body the population believes has legitimate authority to govern and adjudicate. Distinct from MD5 which measures immediate protection preference. Scored through civilian testimony on where disputes are taken first and observed attendance at formal versus shadow arbitration sessions. Behavioural proxies override attitudinal responses where the two diverge.

MD2 – Compliance Orientation Score

The behavioural alignment of the population – whether daily rules of engagement are oriented toward formal state law or Shadow Order mandates. MD2 is the Mind vector’s most behaviourally grounded indicator, scored through five specific observable markers: property boundary compliance, movement compliance, commercial compliance, dispute initiation, and civic duty orientation. Its five-marker architecture ensures scoring is based on observable conduct rather than stated attitudes – making it the most resistant to self-censorship bias.

MD3 – Institutional Legitimacy Deficit

The structural gap between the formal state’s rhetorical claims to sovereign authority and the population’s de facto acknowledgement of that authority as binding. Legitimacy is the deepest cognitive dimension – distinct from trust and compliance. Trust asks whether an institution will serve well. Compliance asks whether its rules are followed. Legitimacy asks whether the institution has the right to govern at all. Legitimacy loss is the hardest to reverse – it survives even after security conditions improve and requires active legitimacy reconstruction rather than merely security restoration.

MD4 – Narrative Control Index

Which actor controls the dominant explanatory framework governing how the population interprets local events, security incidents, and governance decisions. Scored through four observable proxies: crisis explanation – whose account the population repeats and acts upon; warning compliance – whose security directives the population follows; information source preference – where the population turns first for zone intelligence; and blame attribution – which actor the population holds responsible for governance failure. Behavioural responses to information override stated media preferences where the two diverge.

MD5 – Protection Source Preference

The truest vote of confidence a population can cast – who they turn to first when physical safety is threatened. MD5 measures the immediate survival decision made under conditions of acute threat rather than general institutional preference. It is the Mind vector’s most immediate and least self-censored indicator – crisis-moment behaviour bypasses the social desirability bias that distorts attitudinal surveys in Shadow Order environments. Scored through community testimony on contact sequence during the most recent security incident and response time comparison between formal state and shadow order intervention.

MD6 – Socialisation and Education Capture

The degree to which the shadow order has extended cognitive sovereignty reach into the formation of the next generation – through control of schooling, religious instruction, youth mobilisation, and community socialisation channels. MD6 is the Mind vector’s leading indicator – it measures future cognitive sovereignty trajectory rather than current alignment. A zone scoring low on MD1 through MD5 but high on MD6 is in a deceptively stable condition. The next generation is being formed entirely within shadow order cognitive parameters while current cognitive sovereignty appears partially intact. A high MD6 score is a critical forward-looking warning signal regardless of the current Mind vector composite score.

The foregoing presents the nineteen universal indicators of the DSI and the general principles governing their application. The detailed scoring rubrics, operational thresholds, context-specific sub-indicators, evidence protocols and aggregation procedures will be set out in the DSI Methodology and Indicator Manual, to be issued by the Sundiata Post Knowledge Lab (SPKL).

However, scoring the nineteen indicators is only the first step. How those scores interact across the three vectors, and what they imply for the order in which sovereignty can be restored, is the subject of the next instalment.

First HoldCo, Seplat, HBM lead Nigeria’s big corporate stock returns

Big corporate stocks on the Nigerian Exchange Limited (NGX) have seen an unprecedented wave of capital reallocation this year, and sitting comfortably at the vanguard of this financial renaissance are First Holdco Plc, Seplat Energy Plc, and HBM Nigeria Plc.

Overtaking its traditional NGX Premium Board peers, First Holdco has recorded a 186.64 percent year-to-date (YtD) return, decisively rewriting valuation norms across the local bourse.

This trajectory reflects a major shift in market sentiment, transitioning the conglomerate from a historical value play into an aggressive growth leader.

Driving this market-beating momentum is a powerful convergence of aggressive retail accumulation, institutional positioning, and renewed confidence following strategic balance sheet restructuring.

While fellow elite banking and industrial heavyweights on the Premium Board have posted respectable mid-tier gains, First Holdco’s parabolic ascent to stand at N137.3 as at October 19 highlights how effectively the group has unlocked underlying shareholder value.

BusinessDay’s trend watch shows other Premium Board companies and their returns year-to-date (YtD), such as MTNN (61.45 percent), Dangote Cement (65.52 percent), Seplat (175.44 percent), First Holdco (186.64 percent), HBM Nigeria (163.94 percent), Zenith Bank (100.65 percent), UBA (0.84 percent), and Access Holdings (33.10 percent).

In the basket of eight Premium Board Companies, investors have increasingly rewarded First Holdco for its decisive measures to clean up legacy exposures and optimise its expansive financial services ecosystem.

This exceptional outperformance also highlights a broader structural reallocation toward deeply liquid, highly capitalised tier-one Nigerian equities capable of hedging against macroeconomic volatility.

As market participants search for robust vehicles to preserve capital and outpace inflation, First Holdco’s liquidity depth and massive market capitalisation, hovering around N6.243trillion territory as at October 19 have made it an unavoidable destination for both domestic and foreign portfolio flows.

NGX Premium tracks the Premium Board companies in terms of market capitalisation and liquidity. It is a price index and is weighted by adjusted market capitalisation – the number of a company’s listed shares, multiplied by the closing price of that company, multiplied by a capping factor. Only fully paid-up common shares are included in the index.

As the NGX navigates through market dynamics, the Premium Board continues to serve as the crown jewel for institutional and retail investors seeking liquidity, solid governance, and impressive capital appreciation.

For instance, the performance of the NGX Premium Board highlights a market favouring high-conviction growth stocks, particularly within financial services and energy sectors.

While top performers like First Holdco, Seplat and HBM Nigeria have yielded extraordinary triple-digit windfalls, the diverse spread of returns emphasises the importance of portfolio rebalancing and strategic stock selection tailored to risk appetite.

Energy titan Seplat followed First Holdco closely behind with a stellar 175.44 percent YtD return, trading at N16,000.10 and boasting a market cap of N9.599 trillion. Seplat Energy Plc has continued to demonstrate phenomenal financial muscle and capital growth.

Backed by robust performance in the oil and gas exploration and production sector, Seplat stands out as one of the most rewarding large-cap investments for equity holders. Delivering an explosive 175.44 percent YtD return, Seplat has heavily rewarded investors, comfortably outperforming broader market indices and solidifying its status as an elite capital-growth engine.

Seplat’s ability to combine robust fundamental earnings with aggressive capital appreciation makes it a cornerstone asset for portfolios targeting the oil and gas sector. For investors looking for heavy-hitting exposure backed by solid structural valuations and extraordinary capital gains, Seplat remains a premier benchmark of success.

Meanwhile, HBM Nigeria (N355 per share as at October 19) also delivered massive gains at 163.94 percent YtD, cementing the dominance of top-tier growth plays.

As a heavyweight contender on the NGX Premium Board, HBM Nigeria Plc has established itself as an exceptional wealth-generator for investors. Backed by solid market positioning in the industrial goods sector, the company’s strong performance highlights why it remains a focal point for capital appreciation.

Investors who positioned themselves in the stock early this year have enjoyed explosive capital gains, mirroring the bullish momentum seen in select heavy-hitting industrial and energy plays.

Zenith Bank successfully crossed the milestone triple-digit threshold, recording a 100.65 percent YtD return with a share price of N124 as at October 19 and a N5.092 trillion market valuation, proving that tier-1 banking institutions remain a staple for wealth creation.

Market heavyweights MTNN (N17.321 trillion market cap) and Dangote Cement (N17.008 trillion market cap) demonstrated solid, defensive growth, posting respectable YtD returns of 61.45 percent and 65.52 percent respectively, while trading at N825 and N1,008.

While Zenith Bank doubled investors’ capital, other financial institutions like Access Holdings (33.10 percent) and UBA (0.84 percent) experienced more subdued momentum, presenting potential value or consolidation phases for long-term investors.

Crucially, for First Holdco Plc that blazes past others, the 186.64 percent YtD milestone serves as a powerful validation of the holding company structure adopted by the group, enabling greater operational agility and targeted capital allocation across its diverse banking, merchant, and asset management subsidiaries.

By streamlining its risk architecture and improving core revenue generation, the firm has successfully dismantled historical valuation discounts that previously separated it from its closest index rivals.

As the market steers into the final stretch of the year, all eyes remain fixed on whether First Holdco, Seplat Energy, and HBM Nigeria can sustain this blistering momentum against tightening monetary levers and shifting macroeconomic headwinds.

Yet, by decisively outrunning their NGX Premium benchmark peers, these companies have firmly cemented their status as the defining market darlings of the current trading cycle, signalling a bold new chapter for West Africa’s capital markets.

Private investors woo Nigerians to strengthen Palm oil production

Nigeria’s continued reliance on imported palm oil is highlighting the need for greater investment in local agriculture, as private-sector initiatives seek to attract more Nigerians into farming to strengthen domestic production.

Nigeria spent N23 billion importing palm oil in the first quarter of 2026, according to figures cited by Reftop AgroField Limited.

David Assogba, group chief executive officer of Reftop Homes Limited, said the palm oil sector had been neglected despite the crop’s historical importance to West Africa. He argued that changing public attitudes towards farming was essential to unlocking its economic potential.

‘Every Nigerian should consider going back to farming because farm is the next oil,’ he said.

Assogba noted that many Nigerians had grown up viewing farming as an occupation for the poor or uneducated, despite growing global interest in agricultural land. He said agriculture could become a more attractive investment option as countries seek to strengthen food production and reduce dependence on imported commodities.

One approach being explored is agro-real estate, which combines agricultural land ownership with professionally managed farming.

Emmanuel Oluwatosin, chief operating officer of Reftop Homes Limited, said the company’s PalmCrest initiative had allocated 2,700 acres of land to subscribers across its first two phases, with plantation development also underway.

PalmCrest is marketed by Reftop Homes Limited and managed by Reftop AgroField Limited. The initiative allows subscribers to own designated agricultural land while the company oversees plantation development and farm operations.

However, its contribution to Nigeria’s palm oil supply will depend on crop yields, plantation maturity and the capacity to process harvested palm fruit.

Assogba called on the government to support agricultural development through access to fertiliser, mechanised equipment and improved security for farmers.

Nigeria’s challenge extends beyond attracting investors. Increasing local palm oil production will require productive plantations, efficient processing facilities and sustained support for farmers.

Whether private investment can help reduce import dependence will ultimately depend on how effectively agricultural land is converted into commercially productive farms.

Ronaldinho to make comeback with Italian third-tier club Ravenna

Brazilian football legend Ronaldinho will return to competitive action next month at 46 years old, with Italian third-tier club Ravenna announcing that the former World Cup winner will feature in a derby against Forlì on November 15.

The move was first announced in June and will mark a return to the pitch for the former Paris Saint-Germain, Barcelona and AC Milan playmaker, who retired from professional football in 2015.

Ronaldinho, who won the 2002 FIFA World Cup with Brazil and the 2005 Ballon d’Or, has also become a shareholder in Ravenna, a club based in northern Italy.

The Brazilian is targeting his 300th career goal as he prepares for his comeback.

‘The wait now has a date: Sunday, November 15,’ Ravenna said in a statement on Saturday.

‘The Brazilian legend will wear the Ravenna FC shirt in the derby against Forlì. An event that will turn the eyes of the world towards the Bruno Benelli Stadium.’

The club added that the announcement had generated excitement and disbelief among fans, with anticipation building since the move was first revealed in Miami and Ronaldinho’s subsequent reception at Marina di Ravenna.

‘The whole football world thought it too good to be true. Instead, we can now officially confirm a grand return: the return of the magic, the smile, and a talent that has captivated generations of fans,’ the club said.

Ravenna are second in Group B of Italy’s third tier, six points behind leaders Spezia, and are seeking promotion to Serie B for the first time since 2008.

Ronaldinho last played professionally for Brazilian club Fluminense in 2015. His return to the game is expected to draw global attention, with the club describing him as a player whose creativity and charisma transcended club loyalties and generations of supporters.

‘There are footballers who are remembered for what they have won and others also for how they made people feel,’ Ravenna said. ‘Ronaldinho belongs to that rare breed of champions capable of turning football into pure joy.’

Shoprite unveils neighbourhood strategy to revive Nigerian operations

Shoprite Nigeria is planning to open standalone neighbourhood stores as part of efforts to revive its retail operations, moving away from its traditional reliance on large shopping malls. Adekunle Adebiyi, Investments Executive Director disclosed this during an interview on Nairametrics where he discussed the retailer’s financial challenges, restructuring efforts and recovery plans.

According to Adebiyi, three Shoprite stores have reopened following a temporary shutdown of operations to allow the company to negotiate with suppliers and address its financial obligations.

‘We took a very, very drastic decision to just shut everything down whilst we negotiated with suppliers. Now three stores are back open,’ he said.

He explained that the company intends to expand through smaller, standalone neighbourhood outlets rather than depending primarily on shopping malls, a strategy he described as consistent with its original business plan.

‘We’re going to be opening standalone neighbourhood stores, which was always the plan,’ Adebiyi said.

He noted that the strategy would allow Shoprite to concentrate on retail operations without committing substantial capital to property development. Adebiyi explained that the traditional supermarket model relies on leasing suitable commercial properties rather than acquiring buildings outright. He said retailers could negotiate long-term leases, sometimes extending to 10 years, and invest primarily in shelves, refrigeration equipment and other operational infrastructure.

According to him, this approach differs from the expectations of Nigerian banks, which typically favour businesses with substantial fixed assets that can serve as collateral. He disclosed that MBO Capital encountered difficulties securing bank financing during the acquisition of Shoprite Nigeria because lenders struggled to identify sufficient tangible assets against which to provide credit.

Despite Shoprite generating billions of naira in revenue, its business model did not fit conventional asset-backed lending requirements. Consequently, the investors turned to alternative funding arrangements to complete the acquisition. Adebiyi also identified foreign exchange volatility as a major factor behind Shoprite Nigeria’s financial difficulties.

He revealed that approximately 17 of the retailer’s 28 stores had dollar-denominated rental agreements at the time of the acquisition. The subsequent depreciation of the naira significantly increased rental obligations, placing additional pressure on operating costs. According to him, rent should ordinarily account for approximately 8% to 10% of a supermarket’s revenue. However, some Shoprite locations experienced substantially higher rental costs.

Beyond foreign exchange pressures, Adebiyi acknowledged operational shortcomings, including weaknesses in inventory management and the loss of access to the former parent company’s enterprise resource planning system. He said replacing the system required billions of naira in additional investment, diverting funds that could otherwise have supported the business.

The proposed neighbourhood-store expansion represents the next phase of that recovery strategy, although the company has not disclosed the number of planned outlets, their locations or an opening timeline. As previously reported by Nairametrics, Ketron Investment Limited, a consortium led by Persianas Investment Limited, completed the acquisition of Shoprite Nigeria in June 2021, following the South African retailer’s decision to exit direct ownership of the Nigerian business.

The transaction saw Retail Supermarkets Nigeria Limited take over operations under a franchise arrangement, with MBO Capital Management Limited among the advisers involved in the acquisition. In June 2024, Nairametrics reported that Shoprite announced the closure of its Wuse store at Novare Wuse Central Mall in Abuja, citing the prevailing business climate and the outlet’s financial performance.

The retailer’s challenges continued into 2025, with reports of temporary store closures and operational disruptions linked to working capital constraints, electricity costs and other expenses. However, in March 2026, Shoprite told Nairametrics that it was not exiting Nigeria but implementing a phased restructuring programme that began in August 2025 Bunmi Adeleye,Retail Supermarkets Nigeria Limited Chief Strategy Officer disclosed plans to reopen outlets at The Palms Shopping Mall and Circle Mall in Lagos while exploring smaller neighbourhood store formats to reduce rental, electricity and diesel expenses.

Gianni Infantino thanks President Ilham Aliyev for organization of FIFA U-15 World Cup

FIFA President Gianni Infantino has expressed gratitude to President Ilham Aliyev for the organization of U-15 World Cup and Festival in Baku.

In a post on his Instagram account, FIFA President Gianni Infantino described the opening ceremony held in Baku as a historic day and fantastic event.

“I thank Azerbaijani President Ilham Aliyev, Deputy Prime Minister Samir Sharifov, the government, those at AFFA officials led by President Rovshan Najaf, my colleagues at FIFA, and everyone helping deliver this special competition. We are giving every young talent a chance and uniting the youth from 189 FIFA Member Associations across all six confederations to create special memories at their first-ever FIFA World Cup event,’ the FIFA President said.

The official opening ceremony of the inaugural FIFA U-15 World Cup and Festival was held at the Baku Crystal Hall on October 24. President of the Republic of Azerbaijan Ilham Aliyev, First Lady Mehriban Aliyeva, their family members, and FIFA President Gianni Infantino watched the ceremony.

The match held following the opening ceremony between the Azerbaijan and Timor-Leste national teams ended with a 6-0 victory for the Azerbaijani national team.

Sports critical to Rotary’s service to humanity – District governor

District Governor, Rotary District 9112 Olayioye Abidoye, has described sports as a vital tool for driving Rotary’s mission of service to humanity.

Abidoye stated this at a media parley in Lagos, heralding the Rotary Sports Festival (RoSFest) 2027, emphasising that sports foster unity, teamwork and healthy living, which align with the organisation’s core value of impacting society,

Rotary Sports Festival is an annual event, a six-month fitness and fellowship fiesta designed to keep Rotarians mentally and physically sound to carry out humanitarian service.

According to the Rotary District Governor, ‘When you participate in sports, you are mentally sound, you are physically sound and your health is in the right frame to do service and to function in your family. We Rotarians who have dedicated our lives to serving humanity must be fit mentally, physically and health-wise,’

While stating that District 9112 currently has over 2,700 members across 96 Rotary Clubs, which he supervises, he said that RoSFest was one way of taking care of those who take care of others.

Enumerating some of the interventions that his organisation had embarked on, he said it included: donation of learning materials to Ojuwoye Inclusive Nursery and Primary School for children with visual and hearing impairments, observance of Disaster Relief Day, and screening of public primary school pupils for sight and hearing defects under the Legacy Programme to prevent mislabelling poor performance as dullness.

On the other hand, he appealed to Rotarians to ensure effective participation at RosFest 2027, quoting WHO’s definition of health: ‘Health is wealth. When you are not healthy, that is the only thing you think about. We can only mind other people’s business when we are healthy.’

On her part, Chairman of the RoSFest 2027 Committee, who is also the past president, Chinyere Madueke-Onwo, described RoSFest 2027 as a platform for strengthening the relationship between Rotarians and Rotaractors, adding, ‘We recognise the energy, creativity and enthusiasm that Rotaractors bring to the Rotary family, and we look forward to meaningful collaboration that will promote unity, leadership, development and active participation”

She further explained that the RoSFest 2027 edition would feature12 sporting activities, six indoor games which include Ayyolopon, draughts, Scrabble, chess, table tennis and snooker.

While the six outdoor games, she said include: 100m dash for both male and women, relay race, tug of war, football, volley ball and golf.

The objective, Chairman of RoSFest 2027 Committee said was to create opportunities for participation, healthy competition fellowship while encouraging Rotarians and other participants to embrace physical fitness and an active lifestyle.

‘We intend to make this edition more inclusive, engaging and competitive, with every participating Club having the opportunity to demonstrate its sporting strength and team spirit. Medals and points shall also be awarded to Clubs according to merits.

‘RoSFest 2027 presents a valuable opportunity for corporate organisations, institutions, individuals and Clubs to associate with an initiative that promotes health, youth development, community engagement and excellence.

On his part, Augustine Irabor of Rotary Club of Ikoyi and member of RoSFest Committee, explained that the media parley aimed to announce dates and mobilise Rotarians and the public.

Irabor, who was among those honoured for their roles in the last edition for participating in football, tug of war and golf, said RoSFest awareness is growing.

While recalling that last year’s RoSFest recorded huge success, he said that this year’s edition would be more impactful.

It is interesting to note that the qualifying games/tournaments will run from 31st January to 31st March 2027. While 2nd April would witness the opening ceremony of RoSFest Week.

Governors to collect royal fireboxes on Nov 20

Interior permanent secretary Unsit Sampuntharat has ordered provincial governors to collect royal fireboxes at Government House on Nov 20 for public sandalwood-flower offerings honouring the late Queen Mother.

Mr Unsit, on the royal cremation committee for Her Majesty Queen Sirikit The Queen Mother, said the Prime Minister’s Office has prepared flame lamps and fireboxes for the Bangkok governor and all provincial governors to light ceremonial fires for sandalwood flowers at 878 venues nationwide.

The handover is at 9.39am at the Santi Maitri Building, with Prime Minister and Interior Minister Anutin Charnvirakul presiding.

The Fine Arts Department said the preparations were more than 90% complete, with final detailing expected by the end of this month. Royal cremation ceremonies run Dec 15-19, the cremation on Dec 16.