Category: The Nation – Nigeria

The city of Enugu witnessed an eerie calm on Monday as residents chose to stay indoors in quiet solidarity with the nationwide #FreeNnamdiKanuNow protest rather than take to the streets.

The protest, convened by activist Omoyele Sowore, had called for mass demonstrations across the country to demand the release of the detained leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu.

But in Enugu, participation took a different turn – a spontaneous sit-at-home.

Across the Coal City, normal activities were completely grounded. Schools, markets, and business premises remained under lock and key, while banks, shopping malls, and fuel stations did not open for the day.

Major roads such as Zik Avenue, Agbani Road, and Ogui Road were largely deserted, giving the city a ghostly look.

Even though some government offices opened for skeletal operations, attendance was abysmally low and only a few civil servants were seen on duty.

A tour of areas including Ogbete Main Market, New Haven, and Independence Layout revealed closed shops and empty streets, as commercial transporters and traders kept off the roads.

Many residents told our correspondent that their decision to stay home stemmed from fear of possible violence and a desire to show solidarity with protesters converging in Abuja, where the main demonstration was held.

‘We support the call for Nnamdi Kanu’s release, but people here are afraid of being caught in any confrontation between protesters and security forces,’ a resident at Achara Layout who declined to give his name said.

Despite the near-total shutdown, the atmosphere in Enugu remained peaceful and orderly as of the time of filing this report.

There were no reports of violence or arrests, though security operatives were seen patrolling strategic parts of the city to forestall any breakdown of law and order.

Special Adviser to the President on Media and Public Communication, Chief Sunday Dare, has cautioned activist and publisher of Sahara Reporters, Omoyele Sowore, against using street protests to influence judicial proceedings, insisting that matters of justice are resolved in courtrooms, not through public agitation.

Reacting to Monday’s #FreeNnamdiKanu protest in Abuja led by Sowore, Dare, in a post on his verified X handle, @SundayDareSD, described such demonstrations as ‘counterproductive’ and inimical to the rule of law.

‘Protests, threats, attempts at mob actions, and inflammatory rhetoric do not aid the judicial process. Instead, they hinder it, creating unnecessary tension and undermining the rule of law,’ he stated.

The presidential aide said Sowore’s ‘pastime of PR agitation and courting of public sympathy to interfere with judicial proceedings is outdated and counterproductive in a modern democracy,’ stressing that such actions would not be tolerated in any law-abiding society.

‘You cannot employ protest and civil unrest to demand the release of someone accused of terrorism and whose case is still in court. Not even in America,’ Dare said.

He clarified that the case of Nnamdi Kanu, leader of the proscribed Indigenous People of Biafra (IPOB), long predates President Bola Tinubu’s administration and remains strictly under judicial consideration.

According to him, ‘This administration respects the independence of the courts and will not interfere in ongoing legal proceedings.’

While reaffirming the President’s commitment to justice and constitutional order, Dare warned that freedom and democracy ‘have their limits,’ adding that ‘testing these limits will invite the full application of the laws as clearly stated.

‘The judiciary should be let alone to do its work without interference. President Tinubu remains committed to upholding the rule of law and ensuring justice is served fairly and transparently,’ he said.

Following the announcement of his resignation from the Peoples Democratic Party (PDP), speculations have intensified over the next political move of Bayelsa State Governor, Senator Douye Diri, with strong indications that he and his supporters may soon join the ruling All Progressives Congress (APC).

Reacting to the development, the Executive Director of Social and Human Capital Development at the South South Development Commission and a founding chieftain of the APC in Bayelsa State, Preye Aganaba, expressed delight at the readiness of the party to welcome the governor into its fold.

Speaking during an interview on Rhythm 94.7 FM in Yenagoa, the state capital, Aganaba said Diri’s reported decision to align with the ruling party was not surprising.

‘The kind of impactful leadership and bold reforms led by President Bola Tinubu have unlocked enormous resources for governors to carry out development in their various states. It is only natural for those who are people-oriented to align with the President,’ he said.

Aganaba added that the formal reception of Governor Diri would be handled by the national leadership of the party, noting that the state chapter would follow their direction.

On the development front, the Odi-born politician expressed optimism that greater unity among political leaders would attract more infrastructural projects to Bayelsa State.

Responding to rumours that former President Goodluck Jonathan may contest the 2027 elections, Aganaba cast doubt on such reports, describing Jonathan as a respected statesman now more focused on mentoring the next generation of leaders.

The Vice Chancellor of the Federal University Oye-Ekiti (FUOYE), Ekiti State, Professor Abayomi Fasina, has denied ordering the arrest of the leaders of the university’s chapter of the Senior Staff Association of Nigerian Universities (SSANU).

Speaking with select reporters on Monday evening, Professor Fasina said since he resumed office last Monday he has been concerned on how to achieve lasting peace on the campus despite alleged provocations from certain quarters.

He said he was out of Ekiti State when he heard that SSANU leaders were allegedly detained by the police and ‘I immediately called on the Police Commissioner to seek clarifications and eventually appealed for their release.’

He said there was no basis for him to call on the police to arrest anyone, insisting that what preoccupies his mind is ensuring peaceful atmosphere on the campus towards achieving smooth operation.

According to him: ‘Except they want to be unfair to me. As soon as I resumed office I approved the payment of the relocation allowance for these workers. About N160 million was released for that purpose. In fact, that of the academic staff is yet to be resolved. So how can I be the one responsible for any arrest again.’

He appealed to the workers and students to prioritise dialogue over violence, saying the university is bigger than anyone.

SSANU on Monday alerted the public that its leaders were arrested by the Police Command in Ekiti State, calling on stakeholders including the national leadership of the union to intervene.

According to a statement credited to the Vice Chairman of the union on the campus, Mr Olausi Simeon, five members of the union were arrested by police.

Those arrested, according to Olausi’ statement are Comrade Faleye Benjamin, who is the chairman of the chapter, and Comrades Ademola Mutiu, Oyelude Yekeen, Aluko Ayomikun, and Nwokeke Barnabas.

Olausi said the arrest was in response to a petition allegedly authored by the institution’s chief security officer as reportedly ordered by Professor Fasina.

In the statement with the title: Notice to All SSANU FUOYE Members and the University Community,’ Olausi said the development was concerning and unacceptable.

He said it is a direct attack on ‘unionism, workers’ rights, and freedom of association as guaranteed by the Nigerian Constitution and Labour Laws.’

But Ekiti Police Public Relations Officer DSP Sunday Abutu, denied the arrest of the union leaders.

According to Abutu, the unionists were invited over ‘certain issues,’ and were later released.

‘The police did not arrest them, they were invited over certain developments, and they have been asked to go,’ Abutu clarified..

Interswitch has emphasised that Africa’s next technological leap will be anchored on scalable infrastructure and trust-driven partnerships, not just innovation and capital.

This was the central message delivered by Akeem Lawal, Managing Director, Interswitch Purepay, during his keynote address titled ‘Building Africa’s Digital Economy on Trusted Infrastructure’ at Moonshot by TechCabal 2025, a two-day gathering of Africa’s foremost innovators, thinkers, and technology leaders held at the Eko Convention Centre, Lagos.

Lawal emphasised that Africa’s long-term digital growth hinges on resilient systems built through collaboration, local investment, and reliable technology frameworks.

‘When you build the infrastructure, you create a community of partnerships. Every time you tap your card, pay a bill, or transfer money, you’re relying on something invisible – trust. That’s what we build every single day at Interswitch. But it’s not enough to innovate; we must modernise, embed AI, and strengthen the resilient digital systems that will support both current and future needs, especially in the payments and financial technology sectors,’ Lawal said.

He continued: ‘Infrastructure lays the rails, collaboration drives momentum, and trust fuels the journey. Together, they power Africa’s digital future. Africa’s growth will not be driven by technology alone, but by the infrastructure that endures, the partnerships that unite, and the trust that turns innovation into impact.’

Lawal further stressed that achieving sustainable progress requires more than innovation. He said that it demands structured investment and collaboration. He highlighted the importance of blended models, including public-private partnerships, domestic resource mobilisation, and regional integration, to move from concept to large-scale implementation.

Citing the State of Africa’s Infrastructure 2025 report, he noted that the continent holds over $1.1 trillion in domestic capital through pension funds and sovereign wealth funds. Unlocking these homegrown resources, he said, will redefine Africa’s growth trajectory by driving African-led innovation at scale.

Across its diverse touchpoints from Verve and Quickteller to its switching and processing solutions, Interswitch continues to lead with technology that empowers businesses and consumers alike, enabling interoperability, deepening financial inclusion, and driving digital connectivity across Africa.

Interswitch’s participation at Moonshot by TechCabal 2025, where the company served as Platinum Sponsor and owned the Big Tech and Enterprise Stage, reflects its broader commitment to shaping Africa’s digital future through thought leadership, ecosystem collaboration, and technology-driven trust.

As Moonshot 2025 drew to a close, one message resonated across conversations, the future of Africa’s digital economy will be shaped by collaboration and sustained by infrastructure rooted in trust. Interswitch remains at the heart of that mission, building confidence, enabling growth, and powering Africa’s digital future.

Nigerian Bottling Company (NBC) Limited has concluded plans to launch one of Europe’s most iconic biscuit brands into the Nigerian market.

According to the company, the new move is part of the company’s broader strategy to reinforce confidence in Nigeria’s economic future and commitment to local investment.

The company stated that the launch of Plazma Biscuit marked a strategic milestone for NBC as it expands into Nigeria’s rapidly growing snack food sector, reinforcing the company’s long-term commitment and confidence in the country’s economic potential.

The launch, the statement added is a result of a collaborative effort between Bambi – a leading confectionary company in Europe and Coca-Cola HBC Group, Nigerian Bottling Company (NBC), and a respected local biscuit manufacturer and outsourcing partner.

Crafted with high-quality ingredients, Plazma , the statement added offers a wholesome, creamy biscuit experience designed to support the health and enjoyment of Nigerian families.

The event marking Plazma’s official entry into Nigerian market has been highlighted by a symbolic moment when Goran Sladic, Managing Director of Nigerian Bottling Company, sold the first carton of Plazma biscuits in the market underscoring the brand’s arrival and the company’s excitement about this new chapter.

Goran Sladic, Managing Director of NBC, commented: ‘Plazma is much more than a biscuit, it represents trust, quality, and connection that transcend borders and inspire generations. Bringing this beloved brand to Nigeria is another step in our journey of growth, innovation, and partnership with the communities we serve. With over seven decades of presence in Nigeria, our commitment goes beyond business expansion; it’s about investing in the people, potential, and promise of this great nation.

‘For over 70 years, NBC has been at the heart of Nigeria’s beverage industry, contributing to the country’s development and supporting the well-being of the communities it calls home.

‘The launch of Plazma Biscuit is yet another demonstration of that enduring commitment.’

The National Drug Law Enforcement Agency (NDLEA) said it has intercepted consignments of illicit drugs concealed in frozen snails, electrical bulbs and female clothes heading to the United States, United Kingdom and Democratic Republic of Congo the at the Murtala Muhammed International Airport (MMIA), Ikeja and a courier company in Lagos.

Director, Media and Advocacy, Femi Babafemi, in a statement yesterday, said at least, two suspects linked to attempts to export the illicit substances have already been taken into custody.

Babafemi said one of them, a cargo agent Boladale Riliwan was arrested on October 7th following the discovery of 15 parcels of skunk, a strain of cannabis, concealed in 10 pieces of giant rechargeable electrical bulbs he presented in a carton for airfreight to Democratic Republic of Congo (DRC) at the export shed of the Lagos airport.

He said another suspect in custody is Olawale Oyebola Hakeemot, 48, who is a UK-based Public Health Assistant.

According to the statement, she was arrested on last Sunday at the departure hall of Terminal 2 of the MMIA following the discovery of frozen snails used to conceal 2,300 pills of tramadol 225mg in her luggage while heading to Manchester, United Kingdom, on a Qatar Airways flight.

Babafemi said an attempt by another syndicate to export 810 pills of bromazepam hidden in female clothes going to the United States was also thwarted by NDLEA officers at a courier company in Lagos on Thursday.

The agency’s spokesman said in Adamawa, a suspect Bello Buba was intercepted at an NDLEA check point in Namtari, Yola South Local government with 38,270 pills of tramadol concealed in the spare tyre, boot, and door compartments of his Honda Civic car he drove all the way from Benin Republic to smuggle the consignment into Nigeria last Sunday.

He said: ‘He said not less than 53,250 kilograms of skunk were destroyed on 21.3 hectares of cannabis farm in Ilawe Ekiti, Ekiti state, with 70 bags of the same psychoactive substance weighing 1,140kg recovered by NDLEA operatives during an operation that lasted between Sunday and Monday.

‘Suspects arrested include: Matthew Emmanuel, 26; James Moses, 27; and Israel Samuel, 20. This followed the destruction of 17,400kg skunk on 6.96 hectares of plantation by NDLEA operatives at Aponmu forest reserve, Akure, Ondo state on Sunday.

‘In Oyo state, Aliyu Muhammed, 50; Babarinde Segun,32; Ogunbiyi Sanjo, 30; and Ajani Oluro,30, were nabbed with 596kg skunk at Apata-Ako, Igboora, while Jacob Afolabi, 30, and Salako Oluwatobi, 25, were arrested with 273kg of same substance at Odo-Oyan, Igangan, on Thursday.

‘While Joseph Andrew was arrested in possession of 88kg skunk on Wednesday at Ona – Imeko, Ogun State, another suspect, Festus Udoh, 42, was nabbed with 13,000 pills of opioids along Onitsha- Owerri road, Imo State. In same vein, a total of 74.5kg skunk was recovered from the store of a suspect Joseph Chukwujamaa at Umuogbo – Agu village, Enugu State on Saturday.

‘In Lagos, no fewer than 11 bags of skunk weighing 117kg were recovered from the base of a suspect Ramoni Olukowi in Mushin area on Saturday while a total of 80,000 bottles of codeine-based syrup were intercepted in a container earlier watch-listed by NDLEA coming from India during a joint examination of the shipment with men of Customs service and other security agencies at the Apapa port on Tuesday.’

Nigeria’s maritime sector is gaining international recognition going by the recent election of NPA’s Managing Director, Dr. Abubakar Dantsoho, as Vice President (Africa) of the International Association of Ports and Harbours (IAPH).

The combination of the push by the Minister of Marine and Blue Economy, Adegboyega Oyetola to position Nigeria on the Board of the International Maritime Organisation (IMO) and this development, signal growing confidence in Nigeria’s reform efforts and places renewed responsibility on the NPA to deliver measurable results at home.

Ports sit at the heart of Nigeria’s ambition to build a diversified blue economy, a priority embedded in President Bola Tinubu’s economic renewal agenda. The creation of the Ministry of Marine and Blue Economy and adoption of a national policy framework demonstrate the government’s intent to make maritime infrastructure, logistics and coastal resources central to growth. Within this policy ecosystem, the NPA’s performance will be decisive in determining whether Nigeria can shift from being a trade bottleneck to a regional logistics hub.

Dr. Dantsoho’s new role gives the Authority an opening to align with international standards, attract private capital, and deepen operational reforms. But the challenge remains steep: to translate institutional ambition into operational efficiency, and credibility abroad into competitiveness at home. With cargo volumes rising and fiscal pressures mounting, the success of the NPA’s modernisation drive could shape not only Nigeria’s port system but also its economic future within the emerging blue economy.

The Blue Economy Imperative

The Federal Government’s pivot toward a blue economy marks a strategic turning point. In 2023, the Tinubu administration created the Marine and Blue Economy Ministry and approved a National Policy on Marine and Blue Economy, an effort to integrate shipping, fisheries, tourism, and ocean energy into a unified development agenda.

However, ambition quickly met constraints. The 2025 Appropriation Bill earmarked only N35.75 billion in capital expenditure for the ministry, an amount experts describe as far too small for large-scale dredging, rehabilitation, and deep-sea projects. This funding gap underscores a structural challenge: while Nigeria’s blue economy vision is broad, the financial path to realise it remains narrow, forcing the NPA to rely on internally generated revenue and private investment.

The urgency of reform is evident in trade data. According to industry reports, cargo throughput has surged from about 71 million tonnes to over 100 million tonnes in recent years, while the Lekki Deep Seaport, a flagship PPP project, recorded an unprecedented 2,160 per cent year-on-year increase in throughput as of mid-2025. These gains expose both opportunity and strain: ports must now modernise fast enough to handle expanding volumes and avoid becoming chokepoints in the trade corridor.

Institutional Inertia: The Heavy Anchor

Transforming ports goes beyond new infrastructure, it demands institutional realignment. Decades of bureaucratic habits, weak coordination, and decaying facilities have weighed heavily on the nation’s maritime competitiveness.

In Lagos, Apapa and Tin Can Island remain symbols of congestion. Poor access roads, shallow berths, and obsolete cargo-handling systems combine to create chronic gridlock. The Federal Government has approved US$1 billion for the rehabilitation of major ports, with reconstruction scheduled to begin in Q1 2026 over a four-year period. Dantsoho has confirmed completion of design and environmental studies, but industry observers warn that mobilisation delays, land disputes, and procurement hurdles could push delivery timelines outward-testing investor confidence and public patience alike.

Beyond infrastructure, regulatory overlap persists. Importers and terminal operators navigate a maze of agencies-from Customs and NIMASA to security outfits and local authorities-often issuing conflicting directives. The President of the National Council of Licensed Customs Agents (NCMDLCA), Lucky Amiwero, has long called for a National Single Window platform to harmonise documentation and eliminate arbitrary fee regimes.

The Nigerian Shippers’ Council (NSC) reports that port charges are 30-40 percent higher than regional peers, while cargo dwell time averages 18-20 days, compared to a global benchmark of three-five days. Without institutional clarity, even the best infrastructure upgrades will struggle to deliver impact.

Financing Reform: The Fiscal Tightrope

Port modernisation is capital-intensive. The NPA projects a 40 per cent rise in internally generated revenue (IGR) over 2024, targeting N1.28 trillion in receipts for 2025 to co-fund modernisation and reduce federal dependency. The authority also plans to expand Public-Private Partnerships (PPPs) to fund dredging, equipment upgrades, and greenfield ports.

However, external shocks, ranging from exchange-rate volatility to global supply chain disruptions, could drive up project costs. Analysts warn that without tight fiscal discipline, cost overruns could derail timelines and damage investor trust.

CEO of the Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, cautions that ‘automation and investment alone cannot reform a bureaucracy built on decades of soft institutional habits.’ For the NPA, he says, success will hinge on ’embedding discipline, incentives, and transparency across all levels of operation.’

The IAPH Endorsement: From Symbol to Substance

At the World Ports Conference in Kobe, Japan, Dantsoho’s election as Vice President (Africa), IAPH was widely seen as a milestone. Beneath the optics, the role carries strategic value. It allows the NPA to influence global port standards set by the IMO, WCO, and ISO, aligning them more closely with Nigeria’s interests.

It also opens doors to technical partnerships and capacity-building support from leading global ports and multilateral institutions. For financiers and investors, the appointment signals that the NPA is now seen as credible and networked within the international maritime community.

But industry insiders caution that the achievement must translate into measurable outcomes. As Dantsoho himself noted, his tenure will focus on ‘effective policy implementation, regional cooperation, and trade facilitation’-objectives that must materialise through automation, transparency, and performance metrics.

Inside the Reform Playbook

The NPA’s 2025-2028 agenda spans digitalisation, infrastructure rehabilitation, capital mobilisation, sustainability, and stakeholder alignment.

At the core lies digital integration, especially the Port Community System (PCS) and Electronic Call-Up (Eto) module. These platforms aim to unify Customs, shipping lines, terminal operators, and truckers on a single digital interface, minimising paperwork and curbing revenue leakages.

On infrastructure, rehabilitation of Apapa and Tin Can ports will include quay strengthening, dredging, and yard modernisation. Meanwhile, the proposed Bakassi Deep Seaport in Cross River State, valued at US$3.5 billion, is being positioned to decentralise trade away from Lagos.

The NPA is also prioritising green port initiatives, aligning with IAPH’s World Ports Sustainability Programme to promote clean energy transitions, emissions control, and coastal restoration. The Authority plans to embed Environmental, Social and Governance (ESG) principles into operations, a shift that could protect coastal communities while bolstering investor confidence.

Institutionally, the NPA is retooling itself through new departments for digital operations, ESG compliance, and project delivery. Yet the real test will be whether these reforms survive leadership transitions and embed accountability across all staff levels.

Stakeholder Voices: Optimism and Caution

Senator Dayo Adeyeye, NPA Board Chairman, describes the reform period as ‘transformative,’ linking port modernisation to job creation, trade facilitation, and maritime tourism. Citing a NIMASA report valuing Nigeria’s marine resources at US$296 billion, he argues that the NPA’s modernisation drive is pivotal to unlocking that potential.

Private operators remain cautiously optimistic. BusinessDay investigation, estimates that inefficiencies cost Nigeria US$9 billion annually. The Port Reforms Advocacy Network (PRAN) commends the NPA’s digitalisation efforts but urges ‘policy continuity and predictable regulation’ to sustain momentum.

Environmental groups, meanwhile, insist that modernisation must respect ecological limits. They call for rigorous Environmental and Social Impact Assessments (ESIAs), transparent disclosures, and compensation mechanisms for affected communities, especially fishermen and coastal settlers.

Measuring Progress: The Real Scorecard

Analysts agree that the authority’s reform success must be judged by measurable outcomes, not promises. A clear performance scorecard for 2025-2028 would track vessel turnaround time, cargo dwell time, tariff transparency, and stakeholder trust.

The targets are ambitious: reduce cargo dwell time to 7-10 days, align berth productivity with global medians, automate tariffs and billing, and complete major rehabilitation projects on schedule and within budget. The NPA must also strengthen non-oil export linkages, embed ESG reporting, and elevate Nigeria’s regional maritime influence through stronger participation in IAPH and IMO deliberations.

If these benchmarks are met, Nigeria’s ports, they believe, could finally evolve from being perceived as cost centres to competitive trade enablers.

Risks and Fragilities

Even well-designed reforms can stumble. Maritime analysts identify key risks that could derail progress-mobilisation delays, cost overruns, policy drift, inter-agency friction, and underfunded support systems.

Delays in finalising contracts or securing land could compress project timelines. Inflation and forex swings may inflate capital costs. Reforms tied too closely to current leadership risk reversal if not institutionalised. Stakeholder pushback from unions or operators could stall implementation, while weak coordination with agencies like Customs or NIMASA may create new bottlenecks.

Environmental missteps, too, could trigger litigation or regulatory backlash if coastal projects are executed without adequate safeguards. Analysts argue that sustained reform will require discipline, transparency, and continuity-not episodic enthusiasm.

Dr. Dantsoho’s election to IAPH leadership has put Nigeria’s ports in the global spotlight, but the real test lies at home. The coming years, experts say, will determine whether the NPA can evolve into a transparent, technology-driven, and investor-trusted institution capable of powering the blue economy.

If it succeeds, Nigeria’s ports could transform from persistent choke points into catalysts of trade, industry, and national growth. But if the reforms stall or fragment, the symbolism of global recognition will fade, leaving the country’s maritime ambitions once again adrift.

Ultimately, as one industry player who craved anonymity puts it, ‘The NPA’s challenge is not just to modernise infrastructure, but to modernise itself.’

Federal Government and stockbrokers at the weekend reemphasised the importance of public-private collaboration in the drive to grow the economy to $1 trillion by 2030.

At the 29th Annual Stockbrokers’ Conference in Abuja, the government and the Chartered Institute of Stockbrokers (CIS) agreed that expanding the economy to $1 trillion within the next few years require strategic collaborations among all stakeholders, especially the capital market.

The conference, with the theme: ‘Capital Markets in a Digital, Ethical, and Sustainable Era: Charting Pathways for Economic Transformation,’ brought together key stakeholders in the financial sector to discuss the future of Nigeria’s capital market markets in a rapidly evolving global market.

Deputy Chief of Staff to the President in the Office of the Vice President, Senator Ibrahim Hadejia, said the government understands the strategic importance of the capital market as a catalyst for the national economic agenda.

He said: ‘The journey to a $1 trillion economy is ambitious, but with strategic collaboration between government, regulators, and market operators, it is entirely achievable. We commend CIS for its leadership, and we look forward to continued partnership in building a stronger, more inclusive, and globally competitive Nigerian economy. The capital market remains one of the most powerful engines for sustainable economic transformation’.

He commended CIS for its bold and forward-looking advocacy aimed at positioning the Nigerian economy on the path to achieving a $1 trillion GDP.

Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, urged stockbrokers to uphold the highest level of professionalism and ethical conduct at all times in a bid to ensure a fair and transparent market.

He said investors must have full confidence that the intermediaries who manage their wealth are guided by the highest standards of honesty and competence.

He said the theme of the conference was timely as it related directly to the global transition where technology drives innovation, where ethics anchor trust, and where sustainability defines the future of finance.

‘These three dimensions-digitalization, ethics, and sustainability-are not separate pillars; they form the foundation of a modern, inclusive, and resilient capital markets.

‘Across the world, capital markets are being reshaped by technological innovation. The digital era has introduced new possibilities-from online trading platforms and digital assets to data analytics, blockchain, and artificial intelligence. These innovations are changing how we raise capital, how we invest, and how we supervise,’ Agama said.

He said the Commission has embraced the transformation as an opportunity to enhance efficiency, transparency, and investor protection adding that ongoing efforts to strengthen market surveillance systems, automate regulatory processes, and introduce risk-based supervision frameworks are all aimed at positioning the Nigerian capital market for the realities of a digital economy.

He said: ‘We are also actively engaging with stakeholders: including the Chartered Institute of Stockbrokers, to deepen digital literacy and capacity-building across the market. As technology evolves, so must our skills, our ethics, and our shared commitment to fairness and professionalism.

‘No amount of innovation can replace the foundational importance of ethics. A truly transformative capital market must be built on integrity, transparency, and accountability.

President, Chartered Institute of Stockbrokers (CIS), Oluropo Dada, spoke on the convergence of technology, ethics, and sustainability as transformative forces reshaping global capital markets.

‘Technologies such as blockchain, AI, and fintech are revolutionising the way markets function, making them more efficient and inclusive. This conference aims to explore how Nigeria can harness these trends to retool the capital market for stronger economic and social outcomes.

‘Since the COVID-19 disruptions in 2020, our capital market has delivered some of the highest verified returns on investment globally. With continued collaboration, we can reposition the economy towards double-digit,’ Dada said.

Chairman, Nigerian Exchange Group (NGX Group) Plc, Alhaji Umaru Kwairanga, stressed the importance of sustainability as a guiding principle for financial markets.

He said: ‘The future of finance is green. We must channel capital into climate-resilient initiatives, renewable energy, and the broader low-carbon transition. NGX remains committed to integrating ESG principles across the market’.

Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Sam Onukwue, echoed the call for clear regulation and product innovation.

He noted that stable, predictable policies are crucial to attracting investment.

He said: ‘Diversifying instruments, including non-interest and alternative products, is key to broadening investor participation. Furthermore, liquidity and smooth exit mechanisms are essential to maintaining investor confidence’.

At the event, 48 members, including the former spokesman of the Nigerian Stock Exchange (now NGX), Mr. Sola Oni were conferred with the Fellowship status of the institute while 220 others were inducted as Associate Members.

Residents of Akinlalu community in Ife North council area of Osun State are crying for justice over the killing of at least three of their members by operatives of the Western Nigeria Security Network, codenamed Amotekun Corps, in the state. Amotekun is the local security outfit raised by governments of Southwest states to foster security at the grassroots in complement to operations of the Nigeria Police.

Akinlalu residents said an unprovoked attack visited on their community by Amotekun personnel on 30th September resulted in four fatalities and left nine others – mostly women and youths – severely injured. Among those killed were children of the Aro of Akinlalu, Chief Kamorudeen Oyebamiji. Official statements by the police and Amotekun acknowledged three fatalities and fewer injured persons.

According to local accounts, operatives of the security outfit a day previously arrested suspected thieves at a village close to Akinlalu, who managed to overpower the operatives and snatched rifles from them. Apparently feeling challenged, masked corpsmen on Tuesday, 30th September, invaded the community to instill fear in residents and make them produce the stolen rifles. During that invasion, they allegedly shot indiscriminately, resulting in casualties among community residents.

Amotekun Corps, for its part, claimed that three people were killed, but said they were suspected hoodlums against whom its operatives acted in self-defence when they were attacked. ‘Our men were ambushed while attempting to retrieve two rifles forcibly taken from them during an earlier confrontation with suspected thieves. In the exchange of gunfire that followed, three of the attackers were neutralised,’ a statement by corps spokesman, Idowu Yusuf, said.

The community denied, however, that those slain in the incident were hoodlums. Akinlalu monarch, Oba Oluwabusola Oloyede, demanded justice for the victims who, he argued, were innocent residents. ‘Upon our visit to Amotekun headquarters, their boss confirmed to us that he was the one who ordered the invasion, having instructed them to first visit the palace. However, they never came to the palace, but rather attacked innocent residents at the market square. Four people were killed while nine people were injured during the attack,’ he was reported saying, as he implored Akinlalu youths to remain calm and believe in government’s capacity to bring erring corpsmen to justice.

The Aro of Akinlalu who lost children to the incident said two of them were shot by hooded Amotekun operatives, and another was hacked down while trying to escape from the scene. The corpsmen reportedly took away the bodies of those slain in the attack, and it was at the intervention of state government officials that the bodies were released to bereaved relations. Community youth leader, Musibau Adeboye, also dismissed the claim that Amotekun operatives acted in self defence and insisted the attack was perpetrated by corpsmen suspected to be under the influence of drugs. ‘We heard there was theft of farm produce at Abaoba, a village under Akinlalu. Amotekun men went there and arrested suspects. Later, we learnt two rifles were seized from them by the sons of a retired soldier. The next day, they returned heavily armed and started shooting indiscriminately,’ he said.

The corps has waged a battle of self-justification by spinning narratives portraying its operatives as endangered in their line of duty. Concerning the Akinlalu violence, the spokesman insisted operatives acted in self-defence. He said in a statement that hoodlums earlier ambushed men from the agency’s Ile-Ife command responding to a distress call from Akinlalu, and forcibly took three rifles from them. A backup team dispatched to the scene, according to him, was also attacked by the hoodlums at Akinlalu junction, leading to a gunfight in which three people lost their lives. ‘Upon receiving news of the ambush, reinforcement operatives were deployed and approached Akinlalu with the intention of engaging peacefully, including paying a courtesy visit to the traditional ruler of the town. However, at the T-junction leading into Akinlalu, the road was found barricaded by the assailants, who immediately opened fire on the operatives, triggering a fierce gun battle that lasted over an hour. Despite the intensity of the attack, Amotekun operatives successfully overpowered the assailants. In the aftermath of the encounter, three lives were confirmed lost, including individuals believed to be among the attackers,’ he said.

Barely a week after the incident, the corps plied another claim of an assassination attempt against its boss. Corps Commander Adekunle Omoyele, a retired Brigadier-Gen., alleged that he escaped the attempt in an ambush by gunmen in Osogbo. A statement by the corps spokesman said the ambush occurred penultimate Monday at about 10:05p.m. along Ikirun road in Osogbo, as Omoyele was driving home in his private vehicle. ‘I had left the office, driving home with my two-door vehicle. When I got to Kobo, some armed men suddenly appeared in a moving vehicle, double side-by-side with my car and started firing. Their faces were covered, and before I could react, they opened fire on my vehicle. Bullets riddled the car. I didn’t stop. I kept driving through the hail of gunfire. I was hit, but I managed to escape,’ the corps commander was reported saying, adding that the incident was reported to the police.

The police weighed in and vowed that culprits of the Akinlalu violence would face justice. Apparently in line with that commitment, some Amotekun men were arrested penultimate Wednesday by a special squad of policemen who stormed the corps’ operational bases in Oke-fia, Osogbo, and Ife Central division in Ile-Ife, which they also sealed off. Reports said the police officers arrived unannounced and whisked away corpsmen found on site before shutting down the bases.

The Amotekun spokesman acknowledged the clampdown. ‘Some policemen came, but they didn’t seal our headquarters. They burst our operational base in Oke-fia and the Ife Central command. They also arrested about 20 of our operatives. We don’t know where they took our personnel,’ he said. Osun police command spokesperson, Abiodun Ojelabi, a Superintendent of Police (SP), also confirmed the operation but said only five Amotekun operatives were taken into custody and not 20 as claimed by the corps. He added that Police Inspector-General Kayode Egbetokun had taken over investigation into the Akinlalu killings and reported assassination attempt on the Amotekun commander. ‘Investigation revealed that the attackers were members of Amotekun corps. Five suspects have been arrested, while others remain at large,’ Ojelabi said, adding that Omoyele was invited to explain his role but he failed to honour the invitation. ‘Efforts to reach him on phone proved abortive as his line has been switched off. He later went on social media claiming he was attacked by unknown armed men wearing masks, which preliminary investigation shows to be a figment of his imagination aimed at derailing justice,’ the police stated.

Earlier, the command said it could not commence full-scale probe of the alleged assassination bid, even though a formal complaint was filed, because Omoyele failed to provide proof of the claim. ‘According to the report he made that he was attacked, the police have gone to the scene and we have told him to come along with the vehicle. He will have to produce the vehicle and other things to prove the incident before we can talk of an investigation,’ Ojelabi told journalists.

Since the Akinlalu violence, the Amotekun commander has withheld from submitting to the police, and neither has the Osun government that appointed him called him to question. When he visited the community to pay condolences early last week, Osun State Governor Ademola Adeleke vowed that all those involved in the killings will face the wrath of the law. But in response to the community’s call for suspension of Omoyele, the governor only said the matter had been referred to Amotekun board for thorough investigation. ‘On the request for the suspension of the Amotekun commandant, the matter is ongoing. As I speak, it has been handed over to Amotekun Chairman Wale Abass for proper investigation,’ he said.

There are questions begging for answer. For one, why a parallel probe when there’s been no cooperation with police investigation of the same incident? It shouldn’t take much for Amotekun bosses to clarify the outfit’s role through the police probe, unless there’s inter-agency mistrust on dealing justice. And an assassination attempt involving a gunfight shouldn’t be difficult to back up with evidence, especially as Omoyele said his car was riddled with bullets and he himself was hit before managing to escape. It will be a tragedy if Osun government shields suspects of the Akinlalu killings, which is an albatross that can only be relieved with justice for the victims. And the earlier that gets done, the better.