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Capital Market: Minister Lists Gains Of Securities Tribunal

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13 years ago

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The Minister of State for Finance, Dr Yerima Ngama, last Monday said the Investments and Securities Tribunal (IST) was critical to the growth and smooth operation of the capital market.

Ngama, who made this known in Abuja at the inauguration of the IST board headed by Dr Ngozi Chianakwalam, said the tribunal was doing a lot to lift the confidence of investors.

“It is in recognition of its critical role that the Ministry of Finance has proposed new amendments to the Investments and Securities Act (ISA 2007) to send to the National Assembly,’’ he said.

The minister said this would enhance the tribunal’s work and also ensure that it’s Chairman and other members could seamlessly transit to the Court of Appeal and the Supreme Court.

“This is because the IST is equivalent to the Federal High Court,’’ he said.

Ngama urged the new chairman to liaise with the National Judicial Council (NJC) for its inputs to the amendments.

The Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, said the tribunal had done a wonderful work so far.

Okonjo-Iweala, however, noted that the tribunal’s work had remained largely unsung.

She said that President Goodluck Jonathan had to personally review and approve the list of nominees into the tribunal’s board.

“This is to ensure the best hands are on deck there,’’ she said.

Okonjo-Iweala described the board chairman as a seasoned lawyer and veteran public servant who was more than qualified to lead the tribunal.

“The appointment of a very strong lawyer with varied experiences in the Civil Service and the corporate world is a key component of the law and order being championed by the Federal Ministry of Finance to promote investments in the country.”

Chianakwalam, in her remarks, pledged the board’s commitment to achieving the mandate of the tribunal.

Chianakwalam had earlier served as Solicitor-General and Permanent Secretary, Ministry of Justice, Abia and Director, Registry, Corporate Affairs Commission (CAC) in Abuja.

She attended the University of Ife (now Obafemi Awolowo University, Ile-Ife), where she graduated in 1977 and was called to the Nigerian Bar in 1978.

The board chairman obtained an MBA in Management Technology in June 2001 from the Federal University of Technology, Owerri.

She later obtained a Ph.D in Criminal Law at Rochville University, West Hollywood, California in the U.S.

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Kenyan Runners Dominate Berlin Marathons

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2 days 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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2 days ago

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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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2 days 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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