Author: Ogochukwu Ndubuisi

Constitution Review: Why we Prioritised State Police – Senators Senators have defended the National Assembly’s decision to prioritise constitutional amendments on the establishment of a state police force, saying the country’s worsening insecurity poses an urgent national priority. The lawmakers clarified while responding to concerns that the national assembly appeared to be focusing more on state police than on other constitutional amendment proposals. The Senate Leader, Opeyemi Bamidele, in his reaction, said insecurity remained the foremost concern of Nigerians. Bamidele, who spoke through his Directorate of Media and Public Affairs, said this was why priority seemed to be given to…

SEC to Deliver Sustained Zero Trade Fail Rate in T+1 Settlement Cycle — D-G The Securities and Exchange Commission (SEC), says it is focused on delivering a sustained near-zero trade fail rate under the T+1 settlement cycle in the second half (H2) of the year. Dr Emomotimi Agama, the Director-General (D-G) of SEC, said this in a document made available to the News Agency of Nigeria in Abuja on Sunday. Agama said the focus would be on full delivery-versus-payment discipline across custodians, brokers and the Central Securities Clearing System Plc (CSCS). The D-G said the early evidence of the settlement…

PEBEC Intervenes to Resolve Delayed Passport Renewal The Presidential Enabling Business Environment Council (PEBEC), says its intervention has resolved a delayed international passport renewal issue for a Nigerian citizen. The council said this in a statement issued on Sunday in Abuja after the citizen shared her experience on social media. According to the statement, the citizen experienced delays in renewing her international passport through the Nigerian Immigration Service. It said she subsequently reported the matter to PEBEC, which promptly engaged the relevant authorities to facilitate resolution of the complaint. The council said the intervention resulted in the successful issuance of…

Fuel Price Uncertainty Forces Marketers to Temporarily Halt Supply — IPMAN The Independent Petroleum Marketers Association of Nigeria (IPMAN) says uncertainty over petrol prices has forced many marketers to halt fresh purchases, leading to the temporary closure of some filling stations. The Zonal Chairman of IPMAN, Western Zone, Chief Oyewole Akanni, disclosed this on Sunday in an interview with the News Agency of Nigeria in Ibadan. Akanni said that the situation was triggered by the suspension of the loading of the Premium Motor Spirit (PMS) at the Dangote Refinery about four days ago. This, he said, forced marketers to source…

President Bola Ahmed Tinubu, GCFR, has signed the Presidential Executive Order (EO) on Virtual Assets Coordination,

CIBN Projects 26.5% MPR Retention The Chartered Institute of Bankers of Nigeria (CIBN) has projected that the Central Bank of Nigeria (CBN) will retain the Monetary Policy Rate (MPR) at 26.5 per cent. The projection comes as the Monetary Policy Committee (MPC) begins its 306th meeting in Abuja on Monday. Dr Dele Alabi, President and Chairman of Council, CIBN, projected in an interview with the News Agency of Nigeria on Saturday in Lagos. Alabi said the expectation was based on the CBN’s inflation-targeting monetary policy framework and recent economic developments. According to him, inflation has neither increased significantly nor declined…

Energy Crisis Remains Nigeria’s Biggest Obstacle to Industrialisation – Emir Sanusi The Emir of Kano, Muhammadu Sanusi II, on Friday said Nigeria’s inability to provide reliable, affordable and sustainable energy remained the country’s greatest obstacle to industrialisation, economic growth and national development. Sanusi stated this while delivering the keynote address at the birthday symposium of former Minister of Power and Chairman of Geometric Power Group, Prof. Barth Nnaji, at the International Conference Centre (ICC), Enugu. He said energy security was directly linked to national development, describing a stable electricity supply as the foundation for economic growth, industrialisation and poverty reduction.…

Lagos Governor Launches Climate Investment Fund Gov. Babajide Sanwo-Olu says the Climate Defence and Catalytic Fund will unlock private investment and strengthen Nigeria’s climate finance architecture for sustainable national development. Speaking through Deputy Governor, Dr Obafemi Hamzat, on Friday, Sanwo-Olu addressed the Climate Finance Leadership and Recognition ceremony in Victoria Island, Lagos. The event also marked the official launch of the Climate Defence and Catalytic Fund and the closing ceremony of the maiden Climate Finance Preparedness Clinic. Sanwo-Olu described the fund as a landmark intervention designed to mobilise catalytic capital, support project preparation, reduce investment risks and accelerate climate-resilient development…

NAICOM Warns Insurers Against Flouting July 31 Recapitalisation Deadline The Chief Executive Officer, National Insurance Commission (NAICOM), Mr Olusegun Omosehin, has warned insurance companies yet to meet the new minimum capital requirements that the July 31 recapitalisation deadline is mandatory and not symbolic. Omosehin gave the warning on Friday in Lagos at the investiture of Mr. Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN). He said operators who were yet to comply should act with urgency to meet the regulatory requirement. He described the recapitalisation exercise as a key component…

NGX Chair Seeks Capital, Insurance Partnership Chairman of the Nigerian Exchange Group, Dr Umaru Kwairanga, has called for stronger collaboration between Nigeria’s capital market and insurance industry to accelerate economic growth. Kwairanga appealed on Friday during the investiture of Mr Akinjide Orimolade as the 53rd President of the Chartered Insurance Institute of Nigeria (CIIN). He said stronger cooperation between both sectors was essential to mobilise long-term capital, deepen financial inclusion and support Nigeria’s sustainable economic development. According to him, collaboration across Nigeria’s financial ecosystem has become increasingly important as the country pursues inclusive and sustainable economic growth. He urged stakeholders…