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NSE: DG Bows Out, Okereke-Onyiuke Shifts Retirement To December

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15 years ago

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Mr Musa Elekama, an Assistant Director General of the Nigerian Stock Exchange (NSE), on Wednesday formally announced his voluntary retirement from the services of the exchange. 

Elakama made the declaration in his “daily trading pull out address,” saying he had the desire to become the next director general of the NSE but later changed his mind.  

Reports said that the retirement brought to an end earlier speculations as to who would succeed the incumbent Director General, Prof. Ndi Okereke-Onyiuke.  

Okereke-Onyiuke, who was expected to quit her position at the exchange on November 2, said on the occasion that she would leave the NSE in December.

Elakama, who narrated his successes in his 15 years on the exchange, condemned the crisis currently rocking the NSE management over the succession issue. 

“My 15 years in the exchange was actually fulfilling. I am glad that I was part of the team that rose the NSE from a capitalisation of N1.71 billion in 1995 to N13 trillion in 2008 which dropped to the present N6 trillion. 

“I am so glad that I am leaving the exchange now that the market is recovering. I am equally happy that the NSE has one of the most reliable trading systems in the world.  

“Other markets have had crises in the system, but our own in spite of the little hiccup has been stable,” he said.  

Speaking on the issue of succession, Elakama said: “I cannot pretend that there was no issue. There was indeed an issue.’’

According to him, he previously agreed with his colleagues to retire, but later changed his mind because of certain circumstances, including the market meltdown. 

“Apart from that, I felt I was eminently qualified to be the director general and I have no apology for doing that. 

Okereke-Onyiuke also said on the occasion that four of the council members, including Elakama, had agreed to retire voluntarily to enable the NSE to go on with its crop of new leaders. 

She said this led to the council’s decision in April 2008 to restructure the NSE for the future which brought in consultants, Accenture, in June 2008 to fast tract the restructuring process.  

The director general said the restructuring plans would see all the top management staff being retired in succession and not at once to pave the way for young employees to be groomed.  

“Nobody was forced to resign his/her appointment. With the NSE’s 10 years succession plan, we decided that we should groom the young among us. The decision for restructuring was never that of Accenture. 

“The succession plan has been on since April 2008. It is the business of the council and it is the public that will decide for the council what to do and at the appropriate time, it will be fully announced,” she said.

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Kenyan Runners Dominate Berlin Marathons

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22 hours 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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22 hours 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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22 hours 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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