The Federal Government through the Securities and Exchange Commission (SEC) has reminded Capital (CMOs) to ensure that they renew their registration on or before January 31, 2025.

The Commission said this in a recent circular to ask the operators to begin this annual renewal of registration from January 1 to January 31, 2025.

The annual renewal of registration of Capital Market Operators, is aimed at ensuring that only fit and proper persons operate in the Nigerian capital market.

SEC in the secular stated, “This is to inform all Capital Market Operators (CMOs) and the general public that the annual renewal of Registration of CMOs for the year 2025 will commence from January 1, 2025.”

The Commission emphasized that CMOs without valid registration will be penalized and may be excluded from carrying out capital market activities.

The SEC had in 2021 re-introduced periodic renewal of registration by capital market operators, which was premised on the need to have a reliable data bank of all CMOs registered and active in the Nigerian capital market.

The aim was to provide updated information on operators in the Nigerian capital market for reference and other official purposes by local and foreign investors, other regulatory agencies and the public.

The renewal was also introduced to increasingly reduce incidences of unethical practices by CMOs such as may affect investors’ confidence and impact negatively on the Nigerian capital market, as well as strengthen supervision and monitoring of CMOs by the commission.

Consequently, the SEC amended its rules and re-introduced the requirement for yearly registration renewal by all CMOs, which is carried out electronically to ensure efficiency.

The Nigeria Labour Congress (NLC) has condemned the recent hike in the price of petrol, describing it as insensitivity against the masses.

Following the hike in the cost of the commodity by the Dangote Petroleum Refinery and various depot owners, the pump prices of petrol rose to between ₦1,050 and ₦1,150 per litre.

Reacting to the development, the Deputy President of NLC Political Commission, Theophilus Ndubuaku told Punch that in saner climes representatives of workers, the organised private sector and students would have been consulted before making a decision to increase the fuel price.

He argued that in an inclusive government, one person should not be the one calling the shots. Ndubuaku lamented that when people speak up attack dogs are sent after them and they are labelled members of the Obidient Movement.

He said, “This pump price hike will not only affect foodstuff and fare. There is the problem of inflation and the value of naira to contend with. Instead, what we are seeing is a situation we call Tinubunomics. It is something that has not been tested.

“When you talk about subsidies, is there a country that doesn’t have it? It’s all over the world. Even most of the goods you see in this country from China are subsidised. You are refusing to subsidise fuel and also refusing to even facilitate the so-called CNG buses. How many years does it take to do something like this?

“If you know the kind of game we (the NLC) and them are playing on this CNG thing. Now, they are not even involving the people in the so-called CNG conversion. If you promise to run an inclusive government, It’s not just you that should be doing the talking. Yet, when somebody talks, they send attack dogs to attack and label him a member of the Obidient movement.”

Borrow Obasanjo Template
Continuing, Ndubuaku emphasised that President Bola Tinubu will do well to borrow the template of former leaders like Olusegun Obasanjo, who he claimed held a monthly roundtable with stakeholders whenever sensitive issues that have a lot to do with workers’ welfare were being discussed.

“Such discussions were held in the Villa. Every month people would be invited and issues would be discussed. We’re not saying you shouldn’t do it. But please, carry people along. Let us know why you want to do these things so people will be prepared.

“But you can’t just keep changing the prices without any regard for us? This is what is causing all this frustration. They are not carrying the masses along. They have virtually made it difficult for the NLC to be involved in anything they are doing. Nigeria is not the personal property of anybody.

“If you are going to do anything that will involve the masses, you should call the people who represent the workers at least. You have certain blocks and groups of people in this country that have representatives, even in the so-called business sector that you can talk to,” he explained.

The Nigerian Immigration Service has raised the alarm over the emergence of a new sect known as “ACHAD Life Mission International” in Kaduna State.

According to a circular issued by the NIS, the sect has its headquarters in Kaduna, while its leader, one Mr. Yokana, resides in Jos, Plateau State.

The NIS has linked the sect to human trafficking and child separation, and warned that it has been canvassing members both within and outside Nigeria.

The circular, dated January 14, 2025, was issued by the Principal Staff Officer to the Comptroller General of NIS, AA Aridegbe.

It reads in part: “The intelligence reports that the sect has its headquarters in Kaduna, while its leader, one Mr. Yokana, lives in Jos, Plateau State. It further notes that the sect neither believes in Islam nor Christianity but preaches the restoration of the African tradition and support to humanity.”

The NIS urged all its state commands, directorates, zones, and training institutions to be vigilant and report any activities related to the sect.

The emergence of the new sect has raised concerns among security agencies and the general public, with many calling for swift action to prevent its spread.

The NIS promised to work closely with other security agencies to monitor the activities of the sect and prevent any potential threats to national security.