The Corporate News

23/09/2025

Faces at the 2025 Annual Conference of Finance Correspondent Association of Nigeria (FICAN) in Lagos.

23/09/2025

NDIC, NSIA, NCS, LBS, Others Celebrate FICAN’s Resilience in Transforming Finance Journalism for 35 Years.

The Nigeria Deposit Insurance Corporation (NDIC), Nigeria Sovereign Investment Authority (NSIA), Nigeria Customs Service (NCS) and Lagos Business School (LBS), during the weekend joined other stakeholders to commend the Finance Correspondents Association of Nigeria (FICAN) for remaining resilience in transforming finance journalism and contributing to the Nigeria’s economy growth for 35 Years.

During its 35th Anniversary Celebration, Managing Director NDIC, Mr. Thompson Sunday who was represented by Director, Claims Resolution Department, Mr. Sule Olawale and Managing Director, NSIA Aminu Umar-Sadiq who was represented by Head Corporate Communications, Joyce Onyegbule in their goodwill message at the 2025 annual conference of FICAN in Lagos praised the executives and members of the association for collaborating with government’s agencies in effective dissemination of Information.

Olawale noted that 35 years is not a small feat, stressing that FICAN has positioned itself to be the hallmark of finance reporting in Nigeria.

“My goodwill message will centre around appealing to you to continue the good works. I commend the past and current leadership of FICAN for sustaining the association for over 35 years.

"NDIC and FICAN have had a very warm and cordial relationship over the years. FICAN has been there to tell our stories, give us the platform to share our narratives and to show to Nigerians the great work that the NDIC has done and will continue to do", he said.

In her goodwill message, representative of NSIA, Onyegbule congratulated FICAN on the 35th anniversary, stressing that executives and members of the association have done a great job.

“On behalf of the management and staff of the entire NSIA, we extend our very warm regards and congratulations on this very laudable milestone that you crossed.

“FICAN has also showcased all the work that we have done across the six geo-politicial zones and also given us a platform to say the things that we even wanted to do in future.

“We say a very big thank you to FICAN and we look forward to many more years of impactful association to tell the stories that impact and shape the outcome that we as Nigerians want to see again and again,” she said.

In his speech, the Deputy Comptroller of Customs ,Christopher Famyam, who represented the Nigeria Customs Service said the service is aware of the tremendous education and enlightenment the association is doing through stories members churn out on daily basis.
According to him the NCS, who has been at the forefront of the federal government's modernisation and streamlining of processes in revenue collection and taxation, appreciates the laudable efforts of Journalists and especially FICAN.
He said NCS commenced its digital transformation as far back as year 2006 with Asucuda, but has recently achieved a localised modern platform known as B,Odogwu.
He said the introduction of the local platform has boosted revenue collection as well as enhancing trade facilitation.

"B'Odogwu refers to the Nigeria Customs Service's unified, indigenous software system designed to modernize trade processes and improve efficiency at Nigerian borders.
" It acts as a single platform for all customs clearance processes. It centralizes customs operations for better management and monitoring and risk control", he noted.

Also Professor Akintola Owolabi, Dean of Accounting, Lagos Business School,
said FICAN stands as the beacon for financial journalism in Nigeria.
He stressed that for 35 years, the association has catalysed economic discourse by forging robust connections between the media, academia, and industry leaders.
" Your unwavering commitment to rigorous capacity building, incisive reporting, and fostering transparency has enriched public understanding of Nigeria’s complex financial sector", he added.
Owolabi said that the theme of the conference was timely and vital for Nigeria,s sustainable development,
adding that "at Lagos Business school the strategic vision is in consonance with advancing digital transformation, promoting and,cultivating the leaders Nigeria requires to navigate and pioneer the evolving frontier."

14/09/2025

SEC Considering Gradual Implementation of ISSB Standards, Says Agama

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has disclosed that the Commission is considering a gradual implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO).

Dr. Agama, who spoke at an investors’ roundtable on the International Sustainability Standards Board (ISSB) over the weekend, explained that Nigeria, having participated in the taskforce that developed the standards, would continue to support the four pillars on which they were built.

He noted that Nigeria, with its vast natural resources and growing population, “is particularly vulnerable to climate change and is simultaneously pursuing an ambitious sustainable finance agenda”.

While commending the ISSB framework, Agama stressed that Nigeria would not simply “copy and paste” the standards, but would adopt a carefully tailored approach.

“This means: capacity building—working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation—considering a graduated approach, perhaps beginning with larger, listed entities before expanding to others; assurance framework—developing a robust system for the verification of disclosures to guarantee their credibility; and alignment with local realities—ensuring the global baseline is applied in a way that is appropriate and proportional for our market, while maintaining the core goal of global comparability,” he explained.

Agama added that the Commission opted for this method “because we believe that embracing this global baseline will enhance the attractiveness of the Nigerian capital market. It signals to international investors that we are serious about transparency, governance, and managing long-term risk. It has transformed the ISSB from a promising new initiative into the definitive global framework for sustainability disclosures.”

According to him, “the case for adoption is clear: for global comparability, for investor trust, for managing systemic risk, and for reducing complexity. This is no longer a question of if, but of how and when. The journey to a sustainable global economy requires a common language. The ISSB has provided that lexicon. IOSCO has called us to speak about it. At SEC Nigeria, we have answered that call.”

He reaffirmed the Commission’s commitment to working with stakeholders domestically and across the IOSCO network to implement the standards effectively.

“The global perspective is one of unity and decisive action. By adopting the ISSB standards, we are not just complying with a global trend; we are actively building a more stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he said.

27/08/2025

PRESIDENT TINUBU HOSTS NGX GROUP BOARD AND SEC DIRECTOR-GENERAL IN BRAZIL

President Bola Ahmed Tinubu has commended Nigeria’s capital market's remarkable growth since he assumed office over two years ago.

He noted the phenomenal rise in market capitalisation and increased trading activity, which have broadened investment opportunities for Nigerians and international investors.

President Tinubu spoke on Tuesday when he received the Director-General of the Securities and Exchange Commission (SEC) and the Board of Directors of Nigerian Exchange Group Plc during his state visit to Brazil.

He described the market’s performance as a clear reflection of investor confidence in his administration's reforms and bold economic measures.

“Nigeria’s markets must be a trusted engine of enterprise and prosperity. My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation, so that our economy works for every Nigerian,” President Tinubu said.

President Tinubu lauded the NGX Board and SEC leadership for their commitment, affirming his administration’s unwavering resolve to elevate Nigeria’s financial ecosystem.

He stressed that this dialogue is vital to achieving the Renewed Hope Agenda’s economic targets and positioning Nigeria as Africa’s premier investment destination.

The President promised to continue supporting the capital market and was ready to implement additional reforms to strengthen and expand the sector.

SEC Director-General Dr. Emomotimi Agama applauded the recent signing of the Investment and Securities Act (ISA) 2025 and described it as one of Africa’s most comprehensive legal frameworks for capital markets.

He stated that the Act will propel Nigeria toward a ₦300 trillion market while ensuring equitable wealth distribution through strong investor protection and regulatory clarity.

NGX Group Chairman, Alhaji Umaru Kwairanga, expressed gratitude for the President’s bold reforms, noting that trading volumes and market values have nearly tripled since the commencement of the current administration.

He urged the fast-tracking of the listing of major state-owned enterprises, such as NNPC Limited, and the introduction of tax incentives to sustain this momentum. He also invited the President to visit the NGX trading floor to recognise these achievements.

Temi Popoola, Group CEO of NGX Group, emphasised the importance of positioning Nigeria’s Exchange as a global investment hub through stronger partnerships, modernised market infrastructure, and deeper product innovation. He joined the delegation in thanking the President for his bold reforms. Furthermore, he emphasised that expanding retail investor participation through digital channels will promote inclusive and sustainable market growth.

Nonso Okpala, Director NGX Group Plc, commended the administration’s reforms, citing exchange rate stability and macroeconomic predictability under the Renewed Hope Agenda as drivers of the company’s growth. He encouraged other Nigerian businesses to list on NGX as a pathway to democratising wealth and broadening participation.

14/08/2025

‎APT Securities Projects NGX Market Cap Above ₦100tr by Year-End
‎
The ‎Managing Director and Chief Executive Officer of APT Securities and Funds Limited, Kasimu Garba Kurfi, has projected that the Nigerian Exchange (NGX) market capitalisation will surpass ₦100 trillion by the end of 2025, buoyed by foreign exchange stability, strong corporate fundamentals, and increased primary market activities.
‎
‎Speaking at the Mid-Year 2025 Capital Market Review and Outlook organised by the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos, Kurfi said the second half of the year will witness improved market performance, with inflation expected to slow, the Central Bank of Nigeria (CBN) likely to cut the Monetary Policy Rate (MPR), and treasury bill yields projected to fall.
‎
‎He added that the Purchasing Managers’ Index (PMI) should rise, while the exchange rate will remain relatively stable, creating a favourable environment for equities.
‎
‎According to him, the NGX will end the year stronger than 2024, with a market correction in the short term paving the way for sustained gains.
‎
‎He noted that more financial institutions are expected to recapitalise, while primary market activities will remain active in the months ahead.
‎
‎Kurfi identified key drivers of the 2025 market rally, including the elimination of foreign exchange-related losses by companies. He pointed out that in 2024, listed firms posted pre-tax FX losses of ₦507.2 billion, up from ₦359 billion in 2023, representing a combined ₦867 billion in losses.
‎
‎ “In 2025, we have seen zero FX losses due to exchange rate stability, and this has significantly boosted investor confidence,” he said.
‎
‎The APT Securities boss said the signing of the Nigerian Insurance Industry Reform Act (NIIRA 25) has triggered a rally in insurance stocks, while the CBN’s bank recapitalisation programme has revived the primary market, attracting over ₦2 trillion in 2024, with similar volumes anticipated in 2025.
‎
‎He also revealed that foreign capital inflows reached $5.6 billion in the first quarter of 2025, up from $3.4 billion in the same period in 2024, representing a 67.42 percent increase.
‎
‎"Foreign portfolio investment now accounts for 27.08 percent of market participation, or ₦1.14 trillion, as of July 2025, compared with less than 10 percent at the end of 2023.
‎
‎"Domestic investors, however, remain the dominant force, accounting for 72.92 percent, or ₦3 trillion. Daily market turnover has also improved sharply, averaging ₦25–₦30 billion, compared with ₦5 billion in previous years.
‎
‎"Performance data for the year shows the NGX turnover reached ₦4.19 trillion for the first half of 2025, compared with ₦2.60 trillion in the same period in 2024. Total market capitalisation rose to ₦126.73 trillion from ₦112.6 trillion in December 2024, while equity capitalisation surged to ₦92.73 trillion as of August 7, 2025, from ₦62.66 trillion at the end of 2024.
‎
‎"The All-Share Index (ASI) climbed to 146,569.35 basis points in early August, up 41.61 percent from 102,926.40 points in December 2024.
‎
‎"Sectoral performance has been robust, with about half of the NGX’s 21 indices outperforming the ASI. The Nigerian Consumer Goods Index has more than doubled the market’s gains with an 81.11 per cent rise, followed by the Insurance Index at 74.18 per cent, the NGX Lotus II at 73.34 per cent, the Banking Index at 48.15 percent, the Pension Index at 52.72 percent, and the Industrial Goods Index at 53.89 per cent.
‎
‎For investors, Kurfi recommended a focus on blue-chip stocks with strong fundamentals and insurance companies, particularly those that have diversified into asset management, including pension fund administration.
‎
‎He advised portfolio diversification to include fixed-income instruments for balance, adding that the capital market remains the best hedge against inflation and naira devaluation in the current economic climate.

05/08/2025

AP Visco 2000 Promo
Ardova Plc Rewards Loyalty with Instant Cash and Airtime .

In a compelling move that reaffirms its unwavering commitment to enriching the lives of customers beyond just their engines, Ardova Plc (AP), Nigeria’s leading integrated energy company, has launched the AP Visco 2000 Instant Reward Promo—a nationwide initiative designed to give back to the customers who have fuelled the brand’s growth through their loyalty, trust, and patronage.

Running from August 1, 2025 to December 31, 2025, the AP Visco 2000 Instant Reward Promo offers instant gratification to customers who purchase AP’s range of high-performance lubricants, including market favourites; Visco 2000, Super Visco Static, HD40, and many more. For every 1 litre purchased, customers receive an instant N200 reward; 4 litres earn N400, and buyers of 25 litres walk away with N1,000. These rewards are redeemable on the spot—either as cash or airtime—at AP Filling Stations nationwide and other accredited points of sale.

“At AP, we believe value should go beyond product performance. While our lubricants are engineered to protect and power engines across Nigeria, we are equally driven by a human mission—to appreciate and uplift the people who choose us every day,” said Moshood Olajide, Managing Director, Ardova Plc.

“This promo is not just about rewards. It is about recognition. Recognition of the mechanic who insists on quality. The driver who chooses protection for their vehicle. The everyday Nigerian who believes in the strength of local excellence. With every drop of AP Lubricants, Ardova is not only fuelling engines, but also reinforcing relationships.” Mr. Olajide said.

A Tradition of Trust, A Future of Value
Over the years, AP Lubricants has become a trusted name in engine protection—formulated with advanced technology, tested for Nigerian roads, and trusted by discerning customers. This promotion underscores AP’s continued commitment to delivering premium quality, while also showing heartfelt appreciation for customers’ consistent trust in the brand.
As the campaign kicks off, AP invites all motorists, mechanics, and loyal customers to visit retail stations to enjoy the benefits of choosing a brand that gives back.
Because with Ardova, it’s more than just performance—it’s partnership.

The AP Visco 2000 Instant Reward Promo runs from August 1, 2025 to December 31, 2025, while promo stocks last. Terms and conditions apply. Visit www.ardovaplc.com or follow on social media for more information.

Ardova Plc is a Nigerian leading indigenous and integrated energy company involved in the distribution of petroleum products.

31/07/2025

President Tinubu extends the tenure of the Comptroller-General of Customs

The Presidency announces that the tenure of the Comptroller-General of the Nigeria Customs Service, Mr. Bashir Adewale Adeniyi, MFR, which is due to expire on August 31, 2025, has been extended by one year.

The extension, approved by President Bola Ahmed Tinubu, GCFR, will enable Mr. Adeniyi to consolidate ongoing reforms and complete critical initiatives of this administration, including:
• The modernisation of the Nigeria Customs Service;
• The implementation of the National Single Window Project; and
• The ex*****on of Nigeria’s obligations under the African Continental Free Trade Area (AfCFTA) protocol.

President Tinubu recognises Mr. Adeniyi’s steadfast leadership and commitment to service.

The President is confident that this extension will further strengthen the Nigeria Customs Service in achieving its strategic mandate of trade facilitation, revenue generation, and border security.

27/07/2025

Wale Edun Inaugurates New NDIC Management

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has inaugurated the new Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr Thompson Oludare Sunday and Executive Director (Operations), Dr Kabir Sabo Katata at the Ministry of Finance, Abuja.

In his remark during the occasion, the Honourable Minister submitted that the NDIC, as a component of the financial safety-net has a crucial role to play in the nation's march to economic stability and prosperity. He therefore charged the Management team to bring their diverse wealth of experience to bear on their new assignment while assuring them of the ministry's full support in the task ahead.

Responding, Mr Sunday who spoke on behalf of the Management team, expressed appreciation to His Excellency, President Bola Ahmed Tinubu for their appointment. He assured the Hon Minister of the readiness of the Management under his leadership to live up to expectations of the President in particular and the nation in general in the discharge of their duties.

The Management was later received to the Corporation’s Head Office with a warm welcome by the workforce.

Addressing the workers on behalf the Management team, Mr. Sunday promised to work in harmony with the staff to move the Corporation to its next level performance. He stressed that the Management’s focus would be based on the public policy objectives, functions and mandate devolved on the Corporation by the enabling law that established it.

Thompson Oludare Sunday is a seasoned financial expert with over 30 years of regulatory and supervisory experience. Having cut his teeth with the Central Bank of Nigeria (CBN) in 1989, he went ahead to acquire high-end knowledge in Central Banking, spending 24 unbroken years in banking supervision. While his vast experience is in the regulation and supervision of licensed institutions, his deep expertise span corporate governance, risk management and compliance as veritable tool for ensuring the safety and soundness of institutions.

He is a highly analytical and cross functional team worker with strong interest in building individual and institutional capacity for transformation and excellence. Thompson’s skills and experience were horned by several key responsibilities and special assignments he handled for the apex Bank before his retirement as a Director 2021.

The ED (Operations), Kabir Sabo Katata is a quantitative energy strategist and computational finance expert with strong power trading and risk management experience.

He has over twenty-eight years’ experience in the design and management of technically innovative systems in multiple industries including telecommunications, IT, energy (petroleum & power), finance and government. He is a specialist in sophisticated financial optimization, the application of modern statistical techniques and mathematics to energy, deposit insurance and banking sectors.

Dr. Katata joined the service of the Nigeria Deposit Insurance Corporation in 2012 as an Assistant Director in the Research, Policy and International Relations Department and rose to the pinnacle of his career as Director in January 2022, before his new appointment as Executive Director (Operations).

25/07/2025

PRESIDENT TINUBU MEETS CHAIRMEN OF GENCOS, PLEDGES TO RESOLVE LONGSTANDING DEBT CLAIMS

President Bola Tinubu on Friday appealed to power generation companies (GENCOs) to give the federal government more time to complete the verification and validation of longstanding debts owed to them.

During a meeting with members of the Association of Power Generation Companies, led by Col. Sani Bello (rtd), at the Presidential Villa in Abuja, the President assured them of his administration's commitment to resolving the liquidity challenges in the power sector.

The Special Adviser to the President on Energy, Mrs. Olu Verheijen, disclosed that a ₦4 trillion bond programme has received anticipatory approval from President Tinubu to address the liquidity shortfall in the sector.

President Tinubu acknowledged the historic liabilities inherited from previous administrations and pledged transparency and fairness in addressing them:

"I accept the assets and liabilities of my predecessors, and there is no question about that. But that acceptance must be on credible grounds. I need to wear the audit cap of verifiability, authenticity, and the fact that this inheritance is not a mere deodorant but a support structure for critical economic and industrial promotion."

The President emphasised the need for patience from GENCOs and financial institutions, noting that government agencies are actively engaging audit and legal firms to scrutinise the claims.

"We are here. So market it to your other colleagues. Give us time to do verification and validation of the numbers," he said.

While reaffirming his belief in a market-driven electricity sector, the President said the industry's long-neglected legacy issues are now receiving the attention they deserve.

"This is a longstanding issue that is now being dealt with. I know how much we have been able to save on fuel subsidies. We introduced the alternative, CNG, to bring relief back to the people."

President Tinubu also emphasised the government's commitment to creating a stable investment environment and avoiding extreme measures, such as bank asset foreclosures, against the generation companies.



"To our friends in the banking sector, I ask that we avoid foreclosures. Sharpen your pencils, but keep an eraser handy. Let's persevere together."

Describing electricity as "the most important discovery of humanity in the last 1,000 years," the President reaffirmed that access to electricity is fundamental to economic growth and human dignity.

The Special Adviser to the President, Ms. Verheijen, attributed the liquidity crisis to "a combination of unfunded tariff shortfalls and market shortfalls" that have built up over a decade.

She stated that as of April 2025, the Federal Government is carrying a verified exposure of ₦4 trillion in debts to GENCOs, an accumulation dating back to 2015.



"We have since sat with 27 GENCOs—not all of them are here today—and reviewed their PPAs and gas sales agreements to understand the legitimacy of their claims. The GENCOs claimed about ₦4 trillion from 2015 to the end of 2023," she said.

The Minister of Power, Chief Adebayo Adelabu, commended President Tinubu for the attention given to the power sector, stating that the administration's reforms have restored investor confidence and improved performance across the electricity value chain.

Adelabu said the Tinubu administration signed into law the Electricity Act, 2023, which decentralises and liberalises the electricity market. This was the first legislation signed by the President upon assuming office.

In separate remarks, business leaders Tony Elumelu and Kola Adesina appealed for urgent intervention to preserve operations and encourage further investment in the sector.

24/07/2025

Dangote Sugar posts N430.21 bn revenue in 2025 half year

Dangote Sugar Refinery Plc has reported a revenue of N430.21 billion in the six months ended June 30, 2025, which in contrast to N295.62 billion earned in the same period in 2024 represents a 45.53 percent increase.

According to financial reports posted on the portals of the Nigerian Exchange Group, revenue for the second quarter rose by 25 percent, to N216.28 billion compared to N172.90 billion in 2024.

The sugar refinery bounced back to profitability in the second quarter of 2025, reporting a pre-tax profit of N523.8 million, compared to N104.5 billion loss recorded in the same period last year.

Dangote Sugar Refinery PLC is a leading sugar processor in Nigeria engaged in the refining, distributing, and marketing of granulated sugar to major players in the food and beverage, pharmaceutical and skin care industries as well as wholesalers.

The Company operates an annual 1.44 million metric tonnes (MT) sugar refining plant in Apapa and a 50,000 tonne per annum refining facility in Numan, Adamawa State, making a total refining capacity of 1.49 million metric tonnes.

DSR has continued to invest in a backward integration programme to reduce its reliance on sugar imports. DSR has 47,364 hectares of sugar plantation and aims to produce 1.5MT of refined sugar annually from its sugarcane in the medium term

22/07/2025

Access Bank Tanzania Honours President Samia Suluhu Hassan for Exceptional Leadership

The Board and Management of Access Bank Tanzania, led by Chairman Protase Ishengoma, paid a courtesy visit to the State House to present the Power of 100 Africa Women Award to Her Excellency, President Samia Suluhu Hassan, President of the United Republic of Tanzania.

The award was presented in recognition of President Samia’s exceptional leadership, commitment to inclusive governance, and contributions to national and regional development.

Speaking during the presentation, Protase Ishengoma, Chairman of Access Bank Tanzania, stated: “This award is a recognition of Your Excellency’s transformational leadership and your unwavering dedication to building an inclusive and prosperous Tanzania. We are honoured to present this on behalf of Access Bank Group.”

“We are proud to align with your excellency’s vision by expanding access to finance, supporting local businesses, and empowering women and youth,” added Ishengoma.

Access Bank Tanzania also used the occasion to highlight its milestones following its market entry through the acquisition of African Banking Corporation (BancABC) in 2024, and the Consumer, Private, and Business Banking portfolios of Standard Chartered Bank Tanzania in 2025.

Key indicators include: Total assets growth from TZS 270 billion to TZS 519 billion; Customer deposits increased from TZS 173 billion to TZS 370 billion; Loan portfolio expansion from TZS 160 billion to TZS 272 billion; Non-performing loans reduced from 4.3% to 3.7%; and Profit recovery from a TZS 2.4 billion loss to a TZS 1.6 billion profit in H1 2025.

Access Bank Tanzania reaffirmed its commitment to the government’s development priorities, particularly financial inclusion, gender empowerment, SME growth, and youth engagement.

Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, added: “We are proud of the progress Access Bank Tanzania has made in such a short time.

Our growth reflects our strong alignment with national priorities and our mission to drive sustainable impact across the communities we serve.”
Access Bank Tanzania also highlighted its flagship initiatives including the W-Initiative, Womenpreneur Pitch-a-Ton Africa, expansion of agent banking, digital financial services, and support for financial literacy through engagements such as Global Money Week.

In line with its sustainability agenda, the Bank emphasized its role in job creation, SME financing, and support for local industries including partnerships with firms like Flight Link Limited, contributing to improved connectivity and economic integration.

The Power of 100 Africa Women Award is a Pan-African platform supported by Access Bank Group, celebrating female leaders advancing sustainable development. Past awardees include Her Excellency Dr. Netumbo Nandi-Ndaitwah, President of Namibia; Her Honour Mutale Nalumango, Vice President of Zambia; and Her Excellency Judith Suminwa, Prime Minister of the Democratic Republic of Congo.

22/07/2025

Commodities Exchanges, Warehouses Can Unlock $500bn

The Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has disclosed that by formalising Commodities and Warehouse receipts the capital market can unlock $500 billion in
dormant agricultural and mineral assets.

Dr Agama who stated this at a national workshop of the Chartered Institute of Stockbrokers in Abuja Tuesday, said the move would transform them into tradeable securities.

He noted that would help the economy diversify from the oil and gas industry, and create wealth for the country.

Agama explained that the Investments and Securities Act 2025 has empowered the SEC to take decisive actions to promote the sector.

“The Act sharpens the SEC’s
regulatory focus, ensuring it operates with the precision and authority
required to steward a rapidly expanding market”, he stated.

He added: “Today, I speak not just about the Investments and Securities Act (ISA) 2025 as a legislative milestone, but as a strategic blueprint to propel Nigeria into the league of top global economies.

“This Act is not merely an update—it is a revolution. It dismantles legacy
constraints, embeds global best practices, and positions our market as the engine room for national prosperity. The question before us is no longer if Nigeria can achieve a $1 trillion economy, but how soon—and the capital market, under this new Act, will be the accelerant”.

The SEC DG stressed that the Commission “now has explicit powers
to shut down Ponzi schemes and prosecute offenders—ending the era
of "get-rich-quick" scams that erode market confidence.

“Investors are now covered for
losses from revoked dealer licenses—a long-awaited safeguard that will boost participation. Trust is the currency of our capital markets. Without it, liquidity dries up”.