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SEC to intensify crackdown on Ponzi schemes

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The Securities and Exchange Commission (SEC) says it will intensify efforts to eliminate Ponzi and pyramid schemes, thereby fostering an environment for genuine investment opportunities to thrive in 2025.

The Director General of SEC, Dr Emomotimi Agama, said this in his New Year message to the capital market community on Sunday.

He said that protecting investors remained a cornerstone of the commission’s mission.

Agama also said that the commission would prioritise key initiatives aimed at deepening market integrity, enhancing investor confidence and driving economic growth.

According to him, SEC is positioned with a dual mandate in regulating and developing the capital market in Nigeria.

“Naturally, our top priority in 2025 will cut across the dual mandate. For us, mainstreaming the Nigerian Capital Market into the economy is very vital.

“Enforcement is the backbone of effective regulation. We are revamping our investigative processes to enhance efficiency and hold bad actors accountable more decisively.

“Insider trading undermines activities and dampens market fairness. By revising our regulatory framework, we aim to strengthen detection, prevention, and accountability mechanisms.

“Transparency is at the heart of investors confidence and capital markets. We will introduce measures to ensure greater visibility and trust in securities transactions,” he said.

The director-general added that to resolve market disputes efficiently and fairly, the commission was focusing on enhancing the operations of the Investments and Securities Tribunal (IST).

He noted that these efforts aim to make the tribunal more effective in delivering timely resolutions, thereby improving overall efficiency in the process.

Agama stated that key focus for the commission in 2025 is strengthening the legal framework of the commodities market to enable it attain its full potential of aiding economic development.

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He said the commodities market is a major area of interest for SEC, adding that Nigeria is purely an agrarian nation.

The director-general said that taking that comparative advantage to the next level, is something that the commission is proud to be part of.

Agama said this year, SEC would focus on reinforcing the legal and regulatory structures that support growth to create a solid foundation for the vibrant commodities ecosystem, be it soft or hard commodity.

“More so, when we have a plethora of commodities all over Nigeria. SEC as a partner in development will make sure that we make the difference,” he said.

Agama said that these initiatives reflect the commission’s vision for a stronger and more inclusive capital market in 2025, adding that SEC is committed to building wealth, instilling confidence and making impacts.

The SEC boss said: “As we embark on this journey, I invite all stakeholders to work with us in achieving these goals.

“Together, we can unlock the potentials of the Nigerian capital market and make this a defining year for our economy.

“What we intend to do, is to steer the capital market towards a direction that ensures that development gets to the doorstep of every Nigerian.”

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Police Successfully Rescues Two Abducted Federal University Lafia Students

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The Nasarawa State Police Command has successfully rescued two students from the Federal University of Lafia (FULafia) who were kidnapped on Sunday, March 30.

In a statement released to the media on Tuesday in Lafia, Police Spokesman SP Ramhan Nansel provided details of the incident. He reported that the command received an emergency call regarding an attack on a student lodge around 9:20 PM on March 30, during which two students were taken hostage.

“At approximately 9:20 PM on March 30, we were alerted to an attack at a student lodge located behind Nasara Estate, Tudun Kauri, Lafia. During this assault, two Federal University Lafia students, Sadiq Adinoyi and Sakina Adinoyi, were abducted,” SP Nansel stated.

Following immediate instructions from Commissioner of Police Shetima Jauro-Mohammed, members of the Anti-Kidnapping Unit and ‘A’ Division in Lafia were dispatched to locate the assailants.

Nansel elaborated that, based on technical intelligence, the rescue team identified the location where the victims were held— a forest area behind the 500 housing unit along Doma Road.

“The team engaged the suspects in a gunfight within the forest. The overwhelming firepower of the police forced the assailants to retreat, abandoning the victims, who were safely rescued,” the spokesperson noted.

Additionally, one suspect, identified as Ibrahim Musa from Abuni village in Awe Local Government Area, was apprehended at the scene. Nansel indicated that the suspect has provided valuable information and is aiding ongoing investigations.

On behalf of the Commissioner of Police, Nansel expressed gratitude to the anti-kidnapping unit for their unwavering efforts in the rescue operation. He reaffirmed the command’s dedication to combating crime and encouraged officers to remain resolute in their mission to eliminate criminal activities in the state.

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Lawmaker urges FG to curb incessant killings in Benue

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Rep. Blessing Onuh, representing Otukpo-Ohimini Federal Constituency in the House of Representatives, has urged the Federal Government to curb the escalating insecurity and incessant killings in Benue.

Speaking with journalists on Tuesday in Abuja, Onuh, of the All Progressives Congress, lamented the incessant attacks and killings in Otukpo in Benue, describing the situation as a “national emergency” that required immediate attention.

She appealed to President Bola Tinubu to direct security agencies to intensify efforts in apprehending the perpetrators, bringing them to justice and restoring peace to the affected communities.

“The killings in my constituency have reached an outrageous level in recent weeks.

“Every day we witness the senseless murder of innocent people and tragically, it is beginning to feel as though it is normal,” Onuh said.

She claimed that people were being killed and kidnapped repeatedly, yet nothing seemed to be happening to the perpetrators.

“Families mourn their dead, return home, and brace for the next attack by suspected herdsmen,” she added.

Onuh claimed that a retired customs officer, Mr Onche Akatu was brutally murdered a day ago while two members of his family were kidnapped in Asa 2 community, Otukpo Local Government Area.

“Should the dead man now rise to pay ransom for their release? My heart bleeds,” she lamented.

Onuh also said that a nursing mother, Mrs Felicia Ochigbo, was recently slaughtered in the Old NTA Area of Asa community among several other killings in Benue communities.

“As I speak to you now, people are running away from their communities without even knowing if where they are going is even safe.

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“Are these killers above the law?

“Why is it so difficult to apprehend them and restore peace so that our people can sleep with their two eyes closed?” she queried.

The lawmaker also raised concerns that the fear of violence had forced many farmers to abandon their farmlands, adding that the development was worsening food shortages in the region.

Onuh advised the youths against jungle justice or reprisal attacks, emphasising that taking the law into their own hands would only escalate the crisis.

She assured her constituents of her commitment to working closely with political leaders and security agencies to put an end to the heinous acts plaguing her constituency.

“I will engage with political stakeholders and security heads to ensure these atrocities come to an end.

“Our people deserve to live in peace,” she said. (NAN)

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DSS arrests 2 principal suspects involved in Uromi’s tragedy

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Operatives of the Department of State Services (DSS) have arrested two principal suspects allegedly involved in the killing of 16 travellers in Uromi, Esan North-East local government area of Edo State last week.

The Chief Press Secretary to the Governor, Friday Ituah, announced this in a statement on Tuesday.

He said the suspects were apprehended in Uromi town following credible intelligence.

According to him, operatives of various security agencies are hunting for other key suspects involved in the unfortunate incident.

Ituah stated that they have been transferred to Abuja for further interrogation and prosecution by the relevant authorities.

On Monday, the state governor, Senator Monday Okpebholo paid a condolence visit to Kano State. He revealed that 14 suspects had already been arrested in connection with the killing and were to be moved to Abuja for further interrogation.

Governor Okpebholo, who visited the State to condole with the government and families of the victims, had vowed that justice would be served and those involved in the killing would be brought to justice.

Governor Okpebholo had also assured the families of the victims that adequate compensations would be paid.

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