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SEC To Educate State Gov’t On Capital Market Opportunities

SEC Director General Dr. Emomotimi Agama

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SEC To Educate State Gov’t On Capital Market Opportunities

Abubakar Ojima-Ojo

Abuja – The Securities and Exchange Commission (SEC) has announced plans to educate state governments across Nigeria on the benefits and opportunities within the capital market.

Speaking during a meeting with representatives from the World Bank Group and the International Finance Corporation (IFC) in Abuja over the weekend, SEC Director General Dr. Emomotimi Agama highlighted the need to improve financial literacy among state governments to drive economic development.

Dr. Agama emphasized that the Commission’s outreach aims to enhance states’ understanding of investment strategies, regulatory frameworks, and financial markets.

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He stressed the potential for economic growth through capital market investments, particularly in industrial production.

“Imagine setting up factories that will produce goods for export and generate foreign exchange. This would create jobs for Nigerians, leading to wealth creation and economic development,” he said.

He added that a lack of awareness is a significant barrier to state governments utilizing financial markets effectively.

The SEC will provide essential knowledge to unlock investment potential, particularly in states with untapped natural resources.

The initiative will begin with the Executive Council of a northern state, where SEC officials will outline opportunities in the capital market.

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“We will create guides, reports, and policy briefs that simplify complex financial concepts and use case studies from states that have successfully raised capital through bonds or attracted investment,” Dr. Agama explained. GMTNewsng

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AE-FUNAI Suspends Governor’s Appointee Over Cultism Allegations, Urges Others to Shun Vices

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AE-FUNAI

Obiageli Nwancho

Alex Ekwueme Federal University Ndufu-Alike (AE-FUNAI) Ebonyi State has indefinitely suspended Felix Okemini Ifesinachi, a student in the Department of Political Science, for alleged involvement in cultism during the university’s matriculation ceremony on March 14, 2025. The suspension, conveyed in a letter dated March 20, 2025, with reference number AEFUNAI/R/060/VOL. XI, was issued by the Registrar, T. Ifeanyi Igwe, Esq., on behalf of the Vice-Chancellor and the Senate.

The university, in the letter, stated that Mr. Okemini’s actions violated his matriculation oath and contravened the institution’s rules, which strictly prohibit cultism and other related activities. “Cultism and cult-related activities are unacceptable and pose a security and moral threat to the University Community,” the letter emphasized, reaffirming the institution’s zero-tolerance policy on such matters.

As a consequence of his alleged involvement, the Vice-Chancellor directed that Mr. Okemini be placed on indefinite suspension pending further investigation by the Students’ Disciplinary Committee. The university made it clear that the suspension takes immediate effect, barring the student from all academic and non-academic activities within the institution.

Reacting to the development, a senior university official, who spoke on condition of anonymity, reiterated the school’s commitment to maintaining discipline and ensuring a safe learning environment. “AE-FUNAI is determined to rid the university of any form of cultism. We will not tolerate any activity that endangers students and staff,” the official stated.

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Students and stakeholders have expressed mixed reactions to the suspension, with some calling for a thorough investigation while others applauded the university’s swift action. A student leader in the Faculty of Social Sciences noted, “This sends a strong message that the university is serious about upholding discipline. We hope the disciplinary committee will ensure a fair and transparent investigation.”

Beyond this specific case, university authorities have urged all students to resist any involvement in cultism and other vices that could jeopardize their academic pursuits and future careers. The Dean of Student Affairs, in a separate statement, warned, “Students should focus on their studies and avoid being lured into unlawful activities that could ruin their lives.”

Security experts and education analysts have also weighed in on the issue, emphasizing the dangers of cultism in tertiary institutions. Dr. Chijioke Nwankwo, a sociologist, noted that “cultism has continued to be a menace in Nigerian universities, often leading to violence, loss of lives, and disruption of academic activities. Authorities must remain vigilant and proactive.”

Interestingly, Mr. Okemini, aside from being a student, is alleged to hold a political appointment as a Special Assistant to the Ebonyi State Governor on Internal Security. His suspension has sparked further debates on the responsibilities of public officeholders and the need for those in leadership positions to set positive examples. As the university investigates the matter, its decisive action serves as a stern warning that engagement in cult activities will not be tolerated under any circumstances.

AE-FUNAI’s firm stance on cultism aligns with broader efforts by Nigerian universities to curb the menace of secret cults on campuses. GMTNewsng

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Reconstruction of Rivers Assembly Complex Nears Completion

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PORT HARCOURT – The reconstruction of the Rivers State House of Assembly Complex is making steady progress, with authorities expressing confidence that the project will be completed within the scheduled timeframe. The Sole Administrator of the state, Vice Admiral Ibok-Ete Ekwe Ibas (rtd), who inspected the project on Saturday, assured that the legislative building would be ready for use in six months.

Ibas, accompanied by the Head of Civil Service, Dr. George Nwaeke, was received at the project site on Moscow Road, Port Harcourt, by Engr. Omaka Oko, General Manager of Monier Construction Company (MCC) Limited, the firm handling the reconstruction. “We are well on track. The new complex is designed as a two-story structure with 34 en-suite offices, an elevator, a gallery, meeting rooms, and a conference hall. The foundation is solid, and key structural elements have been put in place,” Oko explained.

Checks by GMTNewsng correspondent in Port Harcourt confirmed significant progress at the site, with visible reinforcement pillars, partitioned office spaces. Construction workers were seen handling different installations, while heavy machinery operated on-site, underscoring the level of commitment to the project. “The pace of work here shows serious government commitment,” remarked an observer, Engr. Ifeanyi Wekeh, a structural engineer monitoring the development.

The Sole Administrator underscored the importance of providing a conducive working environment for lawmakers, noting that a functional legislature is vital to good governance. “By the end of six months, this place will be ready for those who need to use it. The legislature must have a proper workspace, and this project is crucial to that objective,” Ibas stated.

A senior official in the state’s Ministry of Works, who spoke on condition of anonymity, affirmed that the project was initiated under Governor Siminalayi Fubara and had received adequate funding. “This reconstruction was planned and commenced under Fubara’s administration. It is incorrect to say nothing was done,” the official noted.

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Political analyst Dr. Emeka Onua described the development as “a positive step for institutional strengthening in Rivers State,” urging that public discourse around it should focus on the progress made. “There is an ongoing attempt to diminish the achievements of Fubara, but the evidence is clear – work is in progress. The public should be guided by facts, not political narratives,” Onu said.

Residents of the state have expressed optimism that the project will enhance governance, with some calling for peace and unity among political actors. A market leader in Port Harcourt, Mrs. Charity Wonodi, urged leaders to set aside differences and prioritize the state’s development. “We want our leaders to work together for the good of Rivers State. This constant political tension is affecting governance and development,” she said.

A Port Harcourt resident Chief Sylvester Ugwu echoed similar sentiments, emphasizing that the focus should remain on delivering good governance. “The priority should be governance, not disputes. This project must continue and be completed without political distractions,” he stated.

Observers have also stressed the importance of accurate information in assessing development efforts, cautioning against narratives that may not reflect realities on the ground. “Misinformation can deepen divisions. The federal government should support reconciliation efforts and distance self from unnecessary controversies,” noted Dr. Grace Inye, a lecturer in political science.

As reconstruction efforts continue, stakeholders have called for collective support to ensure the timely completion of the project, noting that a strong legislature is crucial to democracy and development in Rivers State.

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Pictures of the progress of work on the Complex are below:

 

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Breaking: IGP Deploys 38 Commissioners of Police to Commands, Formations

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Inspector-General of Police, IGP Kayode Adeolu Egbetokun

Abuja, March 21, 2025 – The Inspector-General of Police, IGP Kayode Adeolu Egbetokun, has approved the immediate deployment of 38 Commissioners of Police (CPs) to various State Commands and Police Formations across the country.

According to a statement issued this evening by Force Public Relations Officer, ACP Olumuyiwa Adejobi, the deployment includes nine CPs assigned to key state commands, while 29 others have been posted to strategic police formations nationwide.

The newly appointed CPs for state commands are:

Zamfara State – CP Ibrahim Balarabe Maikaba

Taraba State – CP Bretet Emmanuel Simon

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Yobe State – CP Christopher Ado Emmanuel

Cross River State – CP Olusegun Eyitayo Omosayin

Niger State – CP Adamu Abdullahi Elleman

Bauchi State – CP Sani Omolori Aliyu

Katsina StateCP Bello Shehu

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Federal Capital Territory (FCT) – CP Saka Adewale Ajao

Kwara State – CP Ojo Adekimi

The police chief emphasized that the deployments are part of efforts to strengthen intelligence-led policing and enhance security nationwide. “This strategic posting aims to reinforce our commitment to proactive and effective policing, ensuring that law enforcement remains responsive to the security needs of Nigerians,” IGP Egbetokun stated.

He charged the newly deployed CPs to prioritize tackling insecurity, enforcing discipline within the Force, and fostering stronger community engagement. “Every officer must be dedicated to maintaining law and order while upholding the highest standards of professionalism,” the IGP added.

This latest reshuffle underscores the Nigeria Police Force’s resolve to combat crime and bolster public confidence in law enforcement. GMTNewsng

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