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The Federal Government has dismissed what it described as false and malicious claims portraying Nigeria as a genocide destination.

The declaration was made during a meeting of Commissioners of Information held in Maiduguri, the Borno State capital.

Speaking on Wednesday, the Minister of Information and National Orientation, Mohammed Idris Malagi, said the government was aware of deliberate attempts to misrepresent the country and sow division through false information.

According to him, the campaign was designed to spread panic, undermine national unity, damage Nigeria’s image abroad, and discourage investment.

He said the government would not allow such falsehoods to go unchallenged, calling on information managers at all levels to counter them with facts and verifiable evidence.

‘Our first strategic imperative is to disarm and dislodge this corrosive narrative. Nigeria is not a destination for genocide, and we must rise up to protect our nation in the face of this,’ the Minister said.

Malagi commended Borno State for its resilience and courage in overcoming the challenges of insurgency, noting that the state had demonstrated strength in rebuilding lives and communities affected by conflict.

The Minister also acknowledged the sacrifices of the Nigerian military and other security agencies in defending the country and ensuring peace across affected regions.

He urged Commissioners of Information to work closely with state governments, community leaders, and civil society to promote credible information that reflects the true situation in the country.

Malagi said the forthcoming UNESCO Media and Information Literacy Institute in Abuja would strengthen government efforts to address misinformation and train information officers to identify and counter false campaigns.

He also drew attention to the new fiscal reforms passed into law by the National Assembly, which will take effect in January 2026, urging information officers to sensitise citizens about the reforms and their benefits.

‘The administration of President Bola Ahmed Tinubu is taking deliberate steps to build a more secure and equitable Nigeria. It is the responsibility of information officers to tell the story and show the direction the government is taking,’ he said.

The National Coordinator of Concerned Professionals for Good Governance, Okechukwu Nwafor, has praised the decision of the governor of Enugu State, Peter Mbah to join the All Progressives Congress (APC), as a well-taken decision that would help the development of the state.

Nwafor, who stated this in a statement made available to newsmen, said that Mbah’s decision was a bold step, which reflected a commitment to the progress and effective governance in Enugu State.

He said Mbah’s track record in infrastructure, education, and healthcare had already positioned Enugu as one of the fastest-growing states in the South-East.

Governor Mbah had officially defected from the Peoples Democratic Party (PDP) to the APC on Tuesday, October 14, 2025, at a ceremony in Enugu.

Nwafor, however, said that the move was the outcome of deep reflection and wide consultation with political stakeholders.

Nwafor said: ‘This is a collective move by the political family in Enugu State, which include members of the National Assembly, members of the State House of Assembly, the State Executive Council, all the Local Government Chairmen and Councillors, all political appointees.’

He explained that the defection was aimed at aligning Enugu State with the APC’s development agenda, adding that the decision would further advance the state’s transformation.

He also highlighted key achievements already recorded by the Mbah administration in Enugu as including the completion of smart green schools, primary healthcare centres, and roads, as well as a 600% increase in internally generated revenue.

Nwafor said that the governor’s switch to the APC would not distort the progress already recorded, as, according to him, it would rather enhance the quality of service delivery in the state.

The Delta State Security Trust Fund was on Wednesday launched in Asaba, attracting captains of industry, security chiefs, community leaders, and top government officials.

They included the Group Chairman of Access Holdings Plc, Mr Aigboje Aig-Imoukhuede, CFR, who chaired the occasion; Zenith Bank Founder and Chairman, Mr Jim Ovia, CON, who served as Special Guest of Honour; and the Chairman of Tantita Security Services Limited, High Chief Government Ekpemupolo, who served as Chief Launcher with a donation of ?10 billion.

The event, held at the Banquet Hall, Government House, Asaba, brought together captains of industry, security chiefs, community leaders, and top government officials, including the Group Chairman of Access Holdings Plc, Mr Aigboje Aig-Imoukhuede, CFR, who chaired the occasion; Zenith Bank Founder and Chairman, Mr Jim Ovia, CON, who served as Special Guest of Honour; and the Chairman of Tantita Security Services Limited, High Chief Government Ekpemupolo, who served as Chief Launcher with a donation of ?10 billion.

Speaking at the event, Governor Sheriff Oborevwori reaffirmed his administration’s commitment to building a safer, stronger, and more prosperous state through public-private partnership in security management.

According to him, the Security Trust Fund, established by law in 2013, was designed as a collaborative platform for mobilising resources from the private sector to complement the government’s investment in security.

He explained that the fund would focus on acquiring modern surveillance equipment, operational vehicles, and communication tools, as well as supporting the training and retraining of security personnel and community vigilante groups across the 25 local government areas of the state.

He said: ‘Security is not the sole responsibility of government; it is everyone’s business. Without adequate security, development cannot thrive, businesses cannot operate freely, and investors will be reluctant to commit their resources. This Trust Fund represents our shared commitment to peace, public safety, and sustainable growth.’

Governor Oborevwori said his administration had rebranded Operation Delta Hawk as Operation Delta Sweep, a joint task force involving the Army, Navy, Air Force, Police, DSS, and Civil Defence Corps.

While noting that the synergy among these agencies had yielded significant results, including the recovery of a cache of arms and ammunition from criminal elements, he outlined the government’s broader strategy for tackling the root causes of insecurity, poverty, unemployment, and youth restiveness through empowerment programmes, agricultural initiatives, and massive infrastructure renewal that had created thousands of jobs.

‘Peace and security are better sustained when all citizens, especially women and youths, have opportunities to participate in economic growth,’ he said.

The Governor said 0.5 per cent of the state’s Internally Generated Revenue (IGR) was already allocated monthly to the Security Trust Fund and appealed for sustained support from the private sector and individuals.

‘Your contributions today are not just donations; they are investments in peace, stability, and economic prosperity,’ he said, assuring that all funds would be transparently managed.

Chairman of the occasion, Mr Aigboje Aig-Imoukhuede, described the launch as a defining moment in the state’s history and commended Governor Oborevwori’s leadership, which he said had transformed Delta into one of Nigeria’s most peaceful and progressive states. ‘Our Governor is both a driver and an enabler of progress,’ he noted. ‘While others talk, he just gets it done,’ he added.

Aig-Imoukhuede announced a personal donation of ?100 million to the fund on behalf of himself and his wife, Ofure, and expressed optimism that the initiative would mobilise up to ?100 billion in 2025.

‘This launch does not end today; it begins today. Together, we will continue to strengthen the foundation for Delta’s safety and growth,’ he declared.

In his goodwill message, Mr Jim Ovia commended the governor’s foresight and described the Security Trust Fund as a bold and forward-looking initiative.

He reaffirmed Zenith Bank’s partnership with the state and pledged continued support for its developmental efforts. ‘Security is the foundation of peace, prosperity, and business growth. This fund brings together stakeholders to build a safer and more stable environment for citizens and investors alike,’ Ovia said.

Also speaking, Chief Keston Pondi, who spoke on behalf of High Chief Government Ekpemupolo, popularly known as Tompolo, lauded the governor for institutionalising a framework that enables coordinated private-sector participation in tackling security challenges.

He said: ‘What we are launching today goes beyond a financial contribution; it is a strategic investment in peace, progress, and the protection of lives and property,’ pledging Tantita’s full support for the initiative with a princely donation of ?10 billion.

In his keynote address, retired Deputy Inspector-General of Police, Marvel Akpoyibo, emphasised that development and security were inseparable and must go hand in hand.

He commended the ongoing transformation of road networks in Delta State, describing it as a major contributor to safety and connectivity. Akpoyibo called for increased investment in technology, training, and collaboration among security stakeholders, stressing that true security could only be achieved through shared responsibility.

Earlier, Executive Secretary of the Delta State Security Trust Fund, Mr Samuel Osasa, said the launch was aimed at reinvigorating the fund to meet emerging security needs.

He disclosed that the Trust Fund had, over the years, provided vehicles, equipment, and support to security agencies, including the recent installation of modern facilities for the State Police Command to enhance implementation of the Delta State Criminal Justice Law 2022.

He appealed to corporate organisations, private institutions, and individuals to partner with the State Security Trust Fund through generous donations, assuring that all contributions would be judiciously utilised in accordance with the law.

The event featured goodwill messages, pledges of financial support from public and private entities, and renewed calls for collaboration towards ensuring lasting peace and security across Delta State.

The smartphone market is crowded with devices that promise speed, beauty, and innovation, but only a few truly deliver on all fronts. The newly launched SUPER26Ultra sets itself apart by blending advanced artificial intelligence, a powerful imaging system, and long-lasting performance in one sleek device. It is designed for users who demand more from their smartphones and want technology that adapts to their lifestyle.

Ultra-Curved AMOLED Display for Stunning Visuals

The SUPER 26 Ultra introduces a 6.78 inch 3D Curved AMOLED display that brings visuals to life. With a 144Hz refresh rate, 1.5K resolution, and 4500 nits peak brightness, it ensures clarity whether you are gaming, streaming videos, or scrolling through social media. Protected with Corning Gorilla Glass 7i, the screen is built to withstand daily wear and tear. To add peace of mind, buyers also get a 100-day breakage warranty, making the phone both beautiful and reliable.

Ultra-Durable Build for Everyday Use

Despite its elegance, the SUPER 26 Ultra does not compromise on durability. Its slim 6.8mm body houses an impressive 6000mAh battery that maintains up to 80 percent battery health even after four years of charging cycles. The phone is also IP65 dust and water resistant, ensuring that it can handle splashes, dust, and the rigors of daily life without losing performance.

Ultra-Imaging for Creative Storytelling

For photography lovers, the SUPER 26 Ultra offers an advanced imaging system that ensures every shot tells a story. It comes with a 50MP snapshot camera for sharp captures and a 32MP clear selfie camera for outstanding self-portraits. Video creators will enjoy dual video mode, AI RAW support, and 2K 30fps ultra stable video recording. These features allow users to capture professional grade content without needing extra equipment.

Ultra AI for Smarter Living

Artificial intelligence is one of the strongest highlights of the SUPER 26 Ultra. It comes with AI writing assistance, AI image creation, and real-time call translation, helping users work smarter and communicate across languages with ease. Its newly upgraded Sola assistant, voice activation, AI wallpapers, circle to search function, and Ask About Screen feature make the smartphone an everyday digital companion that adapts to your needs.

Ultra-Performance for Smooth Experience

Performance is at the heart of the SUPER 26 Ultra. Powered by the T7300 6nm processor, the device offers smooth multitasking and a solid gaming experience. It supports up to 256GB storage and 16GB RAM expansion, providing space and speed for every user. With features such as NFC touch transfer, DTS sound effects, and Ultra Link free call technology, the phone ensures both productivity and entertainment are well covered. The device also comes with a six-year fluency guarantee, proving its long-term reliability.

Added Benefits for Buyers

The SUPER 26 Ultra is not only about technology but also about customer rewards. Buyers of the 256+8GB variant using EasyBuy can enjoy zero percent interest when paying in three installments from October 11th – 31st. Other exciting offers include 100 day broken screen insurance, six months of MovieBox VIP access, one month of free premium subscription, and exclusive DIY phone case displays limited to 5000 units. Additionally, buyers can swap their phones within 180 days for a 60 percent resale value.

As part of a special promotion running from September 9 to November 30, customers also stand a chance to be among 3000 lucky winners to enjoy a ?2,500 discount on four Bolt rides when they download the app and activate their voucher after purchasing the phone. To add to the aforementioned benefits, customers who purchase the SUPER 26 Ultra will receive over 6000 gift items: itel A1420 Powerbank and 1A Kettle.

Conclusion

The SUPER 26 Ultra is not just another smartphone; it is a well-rounded device that combines intelligence, durability, and creativity. With its AI powered features, professional grade imaging, and guaranteed performance, it sets a new standard in the smartphone market. Added customer benefits make it even more appealing, ensuring that every buyer enjoys both technology and value.

For those seeking a phone that blends cutting edge innovation with practical everyday use, the SUPER 26 Ultra is more than a worthy choice. It is the future in your hands.

Former senator and member of the Peoples Democratic Party (PDP), Ben Murray-Bruce, has officially joined the All Progressives Congress (APC), declaring his confidence in President Bola Ahmed Tinubu’s leadership and reform agenda.

In a statement on Wednesday, Murray-Bruce said his decision was driven by his belief that President Tinubu is leading the country in the right direction.

‘I have known President Asiwaju Bola Ahmed Tinubu since 1998. I know the man’s mind, his courage, and his conviction. He is not driven by applause; he is driven by results. And today, I can boldly say to you that he is on the right track,’ he said.

He commended Tinubu’s economic and infrastructural policies, noting that the president’s understanding of finance has positioned the country for long-term prosperity.

‘For the first time in our nation’s history, we have a President who truly understands finance, who sees the economy not as a political slogan, but as a living organism that must be disciplined, deregulated, and allowed to breathe,’ he said.

The former lawmaker described the current reforms as necessary for building a free-market economy that rewards innovation and productivity.

‘The painful reforms we face today are the very foundation of tomorrow’s prosperity. We are moving into a free-market economy, one that rewards hard work and innovation instead of dependency and distortion,’ he stated.

Murray-Bruce also highlighted improvements in security, economic management, and foreign policy under the Tinubu administration.

‘Look around you: under this administration, the appointment of the National Security Adviser has redefined our national safety architecture. Insecurity is being quietly and systematically dismantled. The Central Bank, now professionally steered, is stabilizing the economy, rebuilding confidence, and restoring the dignity of the naira,’ he said.

He added that the government’s deregulation of the fuel sector and infrastructural drive were transforming the nation’s economy.

‘Our foreign policy is again respected. Our fuel supply is deregulated. We will never again live through the humiliation of fuel scarcity. The numbers are beginning to speak, investments are returning, and the world is watching Nigeria rise again,’ he noted.

Murray-Bruce said his decision to join the ruling party was motivated by a commitment to national progress rather than political ambition.

‘That is why today, I am joining the All Progressives Congress (APC), not for politics, but for progress. Because I believe that Bola Tinubu’s leadership, guided by courage and intellect, will deliver the Nigeria we have all dreamed of.’

He expressed optimism that the country would achieve remarkable growth under Tinubu’s leadership.

‘Mark my words: in the full term of eight years, Nigeria will witness phenomenal growth. I choose to stand with that vision. I choose to stand with reform. I choose to stand with the future.’

In Nigeria today, your ability to survive isn’t tied to certificates alone: it’s about what you can do. Making a living in Nigeria is not easy – maybe not generally difficult. With unemployment rates biting hard and the economy swinging like a pendulum, learning profitable skills has become a lifesaver.

According to the National Bureau of Statistics, the unemployment rate in Nigeria decreased to 4.3 percent in the second quarter (Q2) of 2024, from 5.3 percent recorded in the first quarter (Q1) of 2024. While informal employment is much higher. ‘Informal employment remains high at 93 per cent. The unemployment rate in Q2 was 4.3 per cent.’

Gone are the days when a university degree alone could guarantee a job. Today, practical skills are what put food on the table, which is the reason behind the high percentage of informal employment.

Meanwhile, Tribune Online looks for the best skills to earn a living in Nigeria, and below are the ten that stand out.

1. Digital Marketing

From social media ads to email campaigns, businesses can’t survive without digital visibility in recent times. Digital marketing tops the list of best skills to earn a living, as skilled marketers who understand and leverage Facebook Ads, SEO, Google Analytics, and content creation are cashing out big. With the current technological advancement, more companies are going online, and the demand for digital marketers is only rising.

2. Graphic Design

With the increase in social media platforms and engagement, every brand wants eye-catching flyers, logos, or social media posts. That’s where graphic designers shine and why graphic design is one of the best skills to earn a living. Tools like Canva, Photoshop, Pixel, and CorelDRAW are the weapons of choice for graphic designers who possess the know-how. By learning them well, you will never run out of clients.

3. Web Development

Everyone wants a website, whether it’s an e-commerce store, blog, or business page. Web developers skilled in WordPress, HTML, CSS, or JavaScript are highly sought after. It’s a skill that pays well, especially if you freelance for both local and international clients.

4. Fashion Designing

Fashion never goes out of style in Nigeria, which makes it one of the best skills to earn a living. Tailors and fashion designers who can craft trendy outfits for weddings, birthdays, or ‘owambes’ are making serious earnings. With the right creativity and customer service, this skill can build you a loyal client base.

5. Photography and Videography

Nigerians love parties, weddings, birthdays, and even baby showers. Every event needs a photographer or videographer. With quality equipment and editing skills, you can turn this passion into a thriving business.

6. Catering and Baking

Food is life, and Nigerians don’t joke with it. Caterers and bakers make a steady income from events, corporate gigs, and daily supplies. Whether it’s small chops, cakes, or traditional dishes, a good cook never runs out of customers.

7. Tech Skills (UI/UX, Data Analysis, Cybersecurity)

The tech space is booming as the world is becoming more digital. UI/UX designers help businesses improve user experience, data analysts turn raw data into insights, and cybersecurity experts protect systems. This is also the best skill to earn a living across the world. Tech skills are high-paying fields, with many opportunities for remote work.

8. Hairdressing and Makeup Artistry

Looking good is serious business in the world, not just in Nigeria. Makeup artists and hairstylists are always booked for weddings, birthdays, or photoshoots. With creativity and consistency, this skill alone can keep your pocket smiling.

9. Real Estate Agency

Land and property sales are hot in Nigeria’s urban centers. Having good networking and negotiation skills, becoming a real estate agent can fetch you high commissions. It is a skill to earn a living that many people have yet to learn. And it is not capital-intensive to start; what matters is trust and connections.

10. Content Writing

The internet runs on content, and blogs, websites, and brands need writers to tell stories, explain products, and sell services. Having a creative skill to write clearly and persuasively, you can earn from freelance platforms or directly from businesses.

These skills to earn a living don’t just pay bills; they can change lives. Start with one, practice till you’re great at it, and you’ll find out that the hustle can be rewarding after all.

The House of Representatives on Thursday unveiled plans to investigate the rationale behind the abandonment of $35 million Modular Refinery project in Brass, Bayelsa State, four years after payment of requisite financial commitment.

The resolution was passed sequel to the adoption of a motion on urgent public importance sponsored by Hon. Billy Osawaru.

In his lead debate, Osawaru underscored the importance of increased revenue base for the nation with a view to reduce the ‘pressure on the foreign exchange regime and even lowers debt burden, especially as it relates to budget financing.

‘The House also notes that it was in the light of the above that the immediate past regime graciously embarked on the need to encourage the funding of modular refineries in the Niger Delta region.

‘The House is aware that under president Bola Tinubu’s Renewed Hope Agenda, indigenous refining had been identified as a key driver of energy independence, job creation, and industrial revitalisation.

‘The House is also aware that the key objective of the present administration is to ensure energy security through improved oil production output in order to increase the Nation’s revenue base and that every available opportunity has been geared towards this objective.

‘The House is further aware that sometime in 2020 the Nigerian Content Development and Monitoring Board (NCDMB) invested the sum of $35 million in Atlantic International Refinery and Petrochemical Limited – a modular refinery to be located in Brass, Bayelsa State.

‘But concerned that despite this huge investment of $35 million which is more than N50 billion and enough to fund fundamental components of the national budget, the proposed modular refinery that was to be known as Atlantic International Refinery and Petrochemical Limited was never setup. Nothing is on ground to show that huge financial commitments had been made.

‘The House is concerned also that this Honorable House had initiated a patriotic love to unravel the mystery behind this wastage by mandating the relevant committee to investigate this monumental economic sabotage; and that despite this, nothing has been heard in respect of the subject matter.

‘The House appreciates that in May 2024, a stakeholder submitted a petition to the Economic and Financial Crimes Commission (EFCC) urging the anti-graft organization to probe the multi-million dollar investments made by the Nigerian Content Development and Monitoring Board (NCDMB) among which was the Atlantic Refinery project; and that despite this noble move by the said stakeholder, nothing has been heard about this profound national waste almost a year ago.

‘The House is worried that the continued inactivity of this Brass modular refinery project raises significant questions about the management of public funds and the effectiveness of oversight mechanisms in Nigeria.’

To this end, the House mandated the joint Committees on Petroleum Upstream, Downstream and Legislative Compliance to investigate the circumstances surrounding this huge financial commitments to the tune of $35 million with nothing on ground to suggest such huge investment and report back to the House within four weeks.

The House of Representatives on Wednesday unveiled plans to investigate allegations bothering on flagrant abuse of due process, violation of local content laws, breach of provisions of the Petroleum Industry Act, 2021, and non-compliance with tax laws by oil and gas companies operating in Imo State.

The resolution was passed sequel to the adoption of a motion sponsored by Hon. Patrick Okafor, who solicited the House’s intervention.

In his lead debate, Hon. Okafor, who represents Ehime Mbano/Ihitte Uboma/Obowo Federal Constituency of Imo State, expressed grave concern that several international and indigenous oil companies operating in the state, including Seplat Energy Plc, Niger Delta Petroleum Resources (NDPR), Sterling Oil Exploration and Energy Production Co. Ltd. (SEEPCO), Waltersmith Petroman Oil Limited, Associate Oil and Gas Limited, Chorus Energy Limited, TotalEnergies/NNPC JV, and NNPC Limited, have allegedly failed to comply with key legal provisions governing the sector.

According to him, these companies have ‘blatantly disregarded’ provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, the Petroleum Industry Act (PIA) 2021, and the Taxes and Levies (Approved List for Collection) Act.

He further alleged that the companies have persistently violated Sections 11, 28, and 35 of the NOGICD Act by neglecting to employ qualified indigenes of Imo State and refusing to award contracts to competent Nigerian firms, particularly those from the host communities.

‘It is worrisome that these companies have failed to establish functional operational offices within their host communities as mandated by law, thereby denying Imo State valuable economic activity and employment opportunities.

‘They have also obstructed lawful efforts by the Imo State Government and the Internal Revenue Service (IIRS) to assess and collect approved state taxes and levies,’ the Okafor stated.

He noted that the companies’ failure to comply with the Host Communities Development Trust (HCDT) provisions of the Petroleum Industry Act has deprived host communities in Ohaji/Egbema, Oguta, and other oil-producing areas of much-needed development projects.

‘This investigation is not a witch-hunt. It is about fairness, compliance with the law, and ensuring that host communities in Imo State benefit from the resources extracted from their land.

‘These acts of non-compliance have led to immense frustration and growing agitation among the people, posing a palpable threat of social unrest in the oil-producing communities,’ he said.

The lawmaker cautioned that continued neglect and disobedience to statutory obligations could trigger violent protests, disrupt oil production, and threaten national security.

The House unanimously adopted the motion, and urged all oil and gas companies operating in Imo State to urgently comply with the provisions of the NOGICD Act and PIA, ensure the employment of indigenous workers, establish operational offices in their host areas, and allow state tax officials lawful access to their premises.

To this end, the House mandated its Committee on Nigerian Content Development and Monitoring to invite the chief executives of the seven oil companies, heads of the Nigerian Content Development and Monitoring Board (NCDMB), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Imo State Internal Revenue Service for questioning.

The House further mandated its Committees on Nigerian Content Development and Monitoring, Corporate Social Responsibility, Petroleum Resources (Upstream), Petroleum Resources (Downstream), Midstream, Finance, and Justice to investigate the alleged violations and report back within four weeks for further legislative actions.

The House of Representatives on Wednesday directed management of Jos Electricity Distribution Company (JEDC) to remit the sum of N72 billion to Federal Government within 60 days, as part of its ongoing investigation into N2.6 trillion debts owed by electricity distribution companies (DisCos) to the Federation Account.

The resolution was passed during the investigative hearing held at the instance of House Committee on Public Accounts, chaired by Rep. Bamidele Salam, following a review of the 2021 report of the Auditor-General of the Federation and documents submitted by the Nigerian Bulk Electricity Trading (NBET) Plc.

According to NBET, Jos DisCo’s indebtedness as of 30th September 2020 stood at N161.7 billion.

However, the company admitted to owing N72 billion as at 30th May 2025.

NBET’s representative, however, told the committee that as of the same May 2025 date, the reconciled amount owed by Jos DisCo stood at N98.7 billion, leaving a disputed balance of N26.7 billion between the two parties.

Following deliberations, the committee resolved that the admitted N72 billion must be remitted to the federal government within 60 days and directed both NBET and Jos DisCo to reconcile the outstanding N26.7 billion within 21 days and report back to the committee.

Salam emphasised the importance of prompt remittances to the Federation Account, stating that the government could no longer tolerate non-compliance by operators in the power sector.

‘This is public money, and the federal government urgently needs these funds to fulfill its responsibilities. We expect full compliance and accountability,’ he said.

In a related development, the committee also mandated management of Kano Electricity Distribution Company (KEDCO) to remit the sum of N40.7 billion, representing 50 percent of its verified debt of N81.5 billion, within 30 days.

Initially, NBET had listed KEDCO’s debt at N211.7 billion, but after a reconciliation process between both parties, the figure was reduced to N85.8 billion.

KEDCO, led by Engineer Hussani Sadiq, acknowledged a verified indebtedness of N81.5 billion, with N4.3 billion still under dispute.

The Committee directed KEDCO to submit evidence of payment of the N40.7 billion within the 30-day deadline and to reconcile the disputed N4.3 billion within 21 days.

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has said that Nigeria’s transition to a T+2 settlement cycle in the capital market will significantly enhance market efficiency, reduce risks, and strengthen investor confidence.

Speaking at a Trade Associations Roundtable on ‘Ensuring Stakeholder Readiness for T+2 Settlement’ held in Abuja on Wednesday, Agama said the migration from the current T+3 to T+2 cycle represents a strategic step toward aligning Nigeria’s capital market with global best practices.

According to him, the move is not just a technical reform but a major milestone that will make the Nigerian market more competitive and resilient.

He said: ‘A shorter settlement cycle is a hallmark of a mature, dynamic, and competitive market. It directly addresses several key objectives: It significantly reduces counterparty risk and

market exposure. The less time between trade execution and final settlement, the lower the potential for a default to ripple through the system.

‘It boosts market liquidity by returning capital to investors more quickly, allowing for its redeployment and fostering greater market activity. It aligns our market with international best practices, enhancing our attractiveness to foreign investment

and reinforcing Nigeria’s position as a key player in the global financial arena.

‘Ultimately, a more efficient and safer settlement system strengthens the bedrock of our market-investor confidence’.

Agama explained that by shortening the time between trade execution and final settlement, the T+2 system will lower market exposure and minimize the potential for defaults, adding that faster settlement would improve liquidity by returning capital to investors sooner, enabling them to reinvest and contribute to greater market activity.

He noted that many advanced markets are already moving toward T+1 settlements, adding that Nigeria must continue to evolve to remain globally relevant.

‘The global financial landscape is constantly changing, driven by technology and investor demand for efficiency. The transition to T+2 is, therefore, a strategic imperative to keep our market competitive and future-ready,’ he said.

The SEC boss emphasized that the success of the transition depends on the collective readiness of all market participants – from brokers and custodians to clearing houses and investors.

He urged trade associations to take a leading role in preparing their members for the operational and technological changes that the new system will require.

‘Your readiness and that of your members is the single most important determinant of our success. This means recalibrating back-office operations, upgrading technology systems, streamlining settlement processes, and ensuring that all market participants are informed and prepared,’ he said.

Agama assured stakeholders that the Commission would work closely with trade associations, market operators, and Financial Market Infrastructures such as the Nigerian Exchange Limited and the Central Securities Clearing System to ensure a smooth and coordinated transition.

He said the Commission would also intensify investor education and awareness campaigns to ensure that all market participants understand the implications and benefits of the change.

‘The move to T+2 is a necessary leap forward for the Nigerian capital market. It is a testament to our collective ambition to build a market that is efficient, resilient, and globally competitive,’ he stated.

Agama called on stakeholders to engage constructively and collaboratively to identify potential bottlenecks, share best practices, and agree on a clear roadmap for implementation.

He reaffirmed the SEC’s commitment to providing the necessary regulatory support and guidance, urging all market participants to work together to make the T+2 transition a ‘resounding success and a proud milestone’ for Nigeria’s financial markets.