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Senate committee wants some regulation on cryptocurrency
The Senate Committee on Capital Market on Monday, called for the regulation of Cryptocurrency to ensure some level of accountability and protection of investor’s fund.
The Chairman of the Committee, Sen. Osita Izunaso said this when he briefed newsmen in Abuja after the committee’s screening of Dr Emomotimi Agama, the newly appointed Director-General of the Securities and Exchange Commission (SEC) and three executive commissioners behind closed-door.
“The issue of cryptocurrency must be regulated because Nigerians are trading in crypto.
“Since Nigerians are trading in crypto, why are we not regulating it. Where is the money going to if we don’t regulate activities in the crypto market.
“You can’t stop them from trading in the crypto market. So because we can’t stop them, you have to regulate it,” he said.
He also said that investing in stock exchange and capital market would help to boost Nigeria’s economy.
“President Bola Tinubu has told Nigerians that he is looking for a N1 trillion economy. That can only be done through the stock exchange, through the capital market.
“And I believe that we are going to see more of government activities in stock exchange, in capital market, in commodities exchange, in crypto.
“This is because these are the areas that will further inject money into the system.
“Because the problem we have is the problem of liquidity. We don’t have enough money, we don’t have enough liquidity in the system,” he said.
He added:“That is what is crushing the naira and making the naira so little when it’s competing with other currencies. But if we develop our capital market, develop our crypto market, we will bring more liquidity into the system.
“That will help to cushion all the problems we have.”
Also speaking, Agama, promised to accelerate development of the capital market in a manner that would boost wealth creation, attract investments and create jobs for Nigerians.
“We are bringing on board innovation, development. We are going to change the narrative of the Nigerian capital market.
“We are going to turn it around. That is the essence of our appointment by President Bola Tinubu. With this team, we assure Nigerians that we’re going to do the best that the President has the desire to do.
“So, we should all wait to see what is going to happen. Our desire is to move this market forward. And to help in achieving the President’s N1 trillion economy in the shortest possible time.
“Yes, the President is going to be a year in office in a few days. That is remarkable because as an anniversary giver, the President has given us to Nigerians to do the best to change the market,” he said.
Agama also said that the commission would introduce innovations programmes that would create world-class companies in such a way that would ensure redistribution of wealth.(NAN)
The National Youth Vanguard of Nigeria’s ruling All Progressives Congress (APC) has rejected allegations made by Honourable Aminu Sani Jaji, who accused the Minister of State for Defence, Bello Muhammed Matawalle, of orchestrating claims of anti-party activities against him.
In a statement issued on Saturday, the group’s National Publicity Secretary, Dr Adeniyi Wale, described Jaji’s accusations as “baseless” and an attempt to distract from his own political manoeuvres.
“Jaji has long positioned himself as a loyal APC member and a unifying force within the party, but his actions suggest otherwise. His political moves appear more self-serving than focused on party unity,” Wale said.
The APC Vanguard emphasised that Nigerians deserve transparent and accountable leaders rather than those who, it said, manipulate public trust for personal gain. The group also questioned Jaji’s credibility, citing what it described as a pattern of inconsistency in his political engagements.
“The remarks made by Jaji not only lack substantiation but also raise concerns about his reliability and judgment,” the statement read. “Leadership is not merely about holding a position of power; it is about demonstrating qualities that inspire trust and confidence among the people.”
The group commended Minister Matawalle for his efforts in strengthening national security and promoting peace. It said his leadership had contributed significantly to fostering unity and improving community relations across the country.
“Minister Matawalle exemplifies the qualities of effective leadership. Under his stewardship, significant progress has been made in enhancing national security and community relations,” the statement said.
The APC Vanguard further criticised Jaji’s leadership approach, accusing him of lacking the foresight and responsibility required for credible governance.
“This pattern of inconsistency not only weakens the integrity of his decisions but also erodes the confidence of party members and stakeholders who seek dependable representation,” Wale added.
The group reaffirmed its support for Matawalle and urged APC members to remain focused on unity and national progress while rejecting divisive rhetoric that could undermine the party’s strength.
News
Two brothers Launch Sardaunan Ikulu Fans Foundation, Sponsor WAEC Registration For 50 vulnerable Students
By Israel Bulus, Kaduna
In a significant effort to promote education, two brothers have launched the Sardaunan Ikulu Fans Foundation, sponsoring the West African Examinations Council (WAEC) registration for 50 vulnerable students in Kamaru Ikulu Ward, Zango-Kataf Local Government Area of Kaduna State.
Speaking at the launch on Tuesday, Yusuf Ismail Ashafa, popularly known as Sardaunan Ikulu, urged the beneficiaries to remain dedicated to their studies and strive for academic excellence. He assured them that the foundation would continue to support outstanding students by facilitating their admission into higher institutions.
Ashafa also called on parents to play an active role in motivating their children to focus on education, emphasizing that their success would contribute to a brighter future for the community.
Meanwhile, Ashafa, who played a crucial role in the emergence of Engr. Bege Gaiya Joseph as the Executive Chairman of Zango-Kataf Local Government Area, expressed deep appreciation for Joseph and his brother, Reuben Richman Bissla, for sponsoring the students’ WAEC registration in his honor.
He pledged to build on these efforts, ensuring continued support for students’ education as a means of fostering societal development.
In his remarks, the co-sponsor, Engr. Joseph Bege Gaiya, popularly known as Lordbeckson, disclosed that the initiative was aimed at improving the education of the most vulnerable students for the betterment of society.
“I am one of the beneficiaries of the goodwill of Sardaunan Ikulu. If he had wanted to become the Council Chairman, he would have been, but he decided to push me forward, and today I am the Council Chairman through his mentorship,” he stated.
He urged the beneficiaries to consider themselves fortunate and to take full advantage of the opportunity by studying hard to achieve excellent results.
“With the establishment of the Federal University of Applied Sciences in Kachia, we must ensure that our students pursue science courses. We cannot afford to have a Federal University in our region and yet have our children unable to gain admission to study science-related fields,” he added.
The initiative has been widely commended as a timely intervention, helping underprivileged students overcome financial barriers to education.
Amid the recall process initiated against Senator Natasha Akpoti-Uduaghan, the Arewa Youths Progressives Assembly has told both the Independent National Electoral Commission, INEC, and the police that Nigerians are keenly watching their actions.
This came amid viral video of some politicians in the Kogi State mass-signing signatures purported to be that of the Senator’s constituents.
It was gathered that the Senator has already petitioned the police over the development.
However, addressing journalists on Tuesday, the National President of Arewa Youths Progressives Assembly, Shuaibu Usman, accused the INEC of always compromising the electoral process in Kogi State.
Usman, who recalled how results of the last governorship election in the state emerged even before the exercise commenced, urged the commission to redeem itself.
He said, “Kogi parades as a worst example when it comes to INEC conduct of election in Nigeria. We have not forgotten how many credible organisations, including Yiaga Africa, raised the alarm of the electoral heist that went on during the last guber election in that state.
“So, INEC has been notorious for providing a thriving ground for politicians in Kogi State to mess up the country’s electoral system.
“The same people are at it again, this time hiding under the guise of a recall process against Senator Natasha Akpoti-Uduaghan. With their Kogi magic, they quickly manufactured over 250,000 signatures, whereas the entire voters during the main election stood at 120,000.
“One need not be a suitsayer to know that these are the same elements who are known to be chronic election riggers, with INEC as their enablers.
“However, we must caution the INEC that this should not be business as usual; this is beyond Kogi State, so Nigerians are watching.
“We were taken aback when the INEC after announcing that the petition did not meet its requirements, returned a day after to tell Nigerians that the same petitioners have met the requirements- what a quick fix!
“The INEC must not kowtow to the whims and caprices of desperate political elements in Kogi State, as this will be resisted by Nigerians.”
Similarly, the apex Igbo group also urged the police to ensure that all those in forging the signatures of Senator Natasha’s constituents were brought to book.
According to the group, the viral videos showed known faces in Kogi State, wondering why the police were yet to effect any arrest.
“By now, we had expected that some of the perpetrators should be cooling their heels in custody or having their days in court, but it is yet to happen.
“There should be no room for compromise, the culprits, no matter how highly placed, should be identified, arrested and prosecuted.
“We urge that the police should engage forensic experts to analyze those signatures before the INEC takes any further step in the said petition,” Usman further stated.