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Stakeholders Seek Action On Investors’ Complaints

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14 years ago

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Stakeholders in the

nation’s capital market at the weekend in Lagos urged relevant regulators to ensure transparency in handling investors’ complaints to restore the confidence in equities market.

They told newsmen that investors had shunned the capital market because of the regulators’ inability to respond to complaints.

Chief Executive Officer, Maxifund Investments and Securities Limited, Mr. Okechukwu Unegbu, said that market regulators should attend to investors’ complaints against the brokers, the Nigerian Stock Exchange and the Securities and Exchange Commission.

Unegbu said that some investors had lost confidence in the capital market due to failure of regulators to attend to their grievances, adding: “this has contributed to the general lull in the market.”

He added that market regulators should ensure transparency in all dealings with both stockbrokers and investors in order to boost the confidence in the market.

Unegbu also stressed the need for road show to educate the populace on the benefits of the capital market.

He advised the regulators to place less emphasis on foreign investors, adding: “restoration of local investors’ confidence is paramount to the growth of the nation’s capital market.”

According to him, the insurance sub-sector was the worst hit in the persistent market lull because of investors’ lack of interest and confidence in insurance equities.

The President, Progressive Shareholders Association of Nigeria (PSAN) Boniface Okezie told The Tide source that regulators should embark on sensitisation programme “to assure investors that it is no longer business as usual’’.

He explained that many investors were particularly discouraged from investing in the capital market because of nationalisation of Bank PHB, Spring Bank and Afribank, by the Central Bank of Nigeria (CBN). Secretary, Independent Shareholders Association of Nigeria (ISAN)

The three nationalised banks are now called: Keystone, Enterprise and Mainstreet banks, respectively.

Also speaking, the Secretary Independent Shareholders Association of Nigeria (ISAN) Bayo Adeleke,  told reporters that a change in attitude of market regulators would help in restoring investors confidence to the market.

He also stressed the need for SEC and NSE to organise a national conference for investors and stockbrokers to proffer a lasting solution to the downturn in the market.

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Kenyan Runners Dominate Berlin Marathons

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1 day ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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1 day ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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