News
Senate committee proposes N10b budgetary vote for capital market

The Senate has recommended that the Federal Government approve an allocation of N10 billion in the current year’s budget to facilitate literacy development within the capital market.
This recommendation was presented by Osita Izunaso, the Chairman on Capital Market, during the appearance of Dr. Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, and Dr. Emomotimi Agama, the Director General of the Securities and Exchange Commission (SEC), before the panel in Abuja yesterday.
Izunaso noted that this request is aimed at enhancing the capital market’s operations, thereby contributing effectively to the overall economic development.
The committee chairman, who regretted that only 5,000 investors were in the capital market, said a special fund would boost the sector.
“We are asking for an intervention for capital allocation, a special funding to finance literacy development in the capital market because that is where the problem is.
“So, if you do that, we will be happy and the capital market will blossom. You will get our letter in that regard today after this meeting.
“That is the hallmark of what Senator Victor Umeh said, that most of them (investors) lost their money through this capital market system. People lost money; people have not regained confidence and we are pushing them,” Izunaso said.
Senator Victor Umeh (LP, Anambra Central) had described the capital market as an essential indicator of “the health of any economy” and how the capital market operates across the world.
He said: “From the past experience from the capital market, a lot is expected to be done to restore public confidence in the Nigerian Stock Exchange (NSE).
“Being able to restore public confidence is key to the operations in that sector. Why we said this is because what we saw was a shock and traumatic experience where investors in the market lost all their funds.”
The Chairman of the Senate Committee on Finance, Sani Musa, explained that the request for N10 billion for literacy and enlightenment was necessary in the light of the current realities.
“We need to see how we can take money out from the budget for the campaign,” he said.
Edun announced that President Bola Ahmed Tinubu had set up a target of $1 trillion economy, adding: “What matters is the vibrancy of the economy.
“This is in terms of having economic stability at the macro level, in terms of the revenues, budget deficits, and inflation rates such that the coming together of these major variables can create a stable environment which will improve investment, including investment in the capital market through the stock exchange.
“All these are under the purview of the SEC.
We now have a much more stable macro economy for investments as a result of the President’s decisive, timely intervention.”
Also, Senate President Godswill Akpabio yesterday promised that the Red Chamber will pass this year’s N54.2 trillion Appropriations Bill latest by tomorrow.
Akpabio made the promise during plenary, urging relevant committees to take swift actions to make the passage possible.
He said: “We need to finish quickly to brush up the budget for possible presentation tomorrow (Wednesday) or next (Thursday).”
President Bola Ahmed Tinubu had initially presented a ₦49.7 trillion budget to the National Assembly on December 18, last year.
But on February 5, he revised the budget upwards to ₦54.2 trillion, citing additional revenue to be generated by key government agencies.
The President said the increase was backed by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion from other government agencies.
News
Anambra govt prohibits students from using phone in school

The Anambra State Government has placed a ban on the use of mobile phones by students in secondary schools across the state.
Chairman of Post Primary Schools Service Commission in the state, Prof Nkechi Ikediugwu, made the announcement at the Anambra Schools’ Cultural Day celebration on Friday in Awka.
Ikediugwu, according to a report by the News Agency of Nigeria, directed principals and teachers of secondary schools in the state to confiscate mobile phones brought to school by students.
She said the decision was aimed at curbing distractions and enhance academic performance.
Ikediugwu stated that there was the need to maintain discipline and focus in learning environments, noting that the increasing use of mobile phones by students during school hours had become a serious distraction to their studies.
“I am authorising principals and teachers to seize phones from students who come to school with them so that we can ensure that students concentrate on their academic work without the interference of phones.
“Governor Chukwuma Soludo’s administration is making significant investments in education to promote academic excellence and instill discipline among students,” she said.
She emphasised the beauty and uniqueness of Igbo traditions, describing them as valuable identity that should be cherished.
“Igbo culture extends beyond clothing and dancing, as the Igbos are also known for their honesty, truthfulness, hard work, respect for elders, and many other admirable qualities.
“It is important to continuously educate our students on the values and norms of Ndigbo, to preserve the rich heritage of the Igbo people,” she said.
News
EU pledges €820m to support Nigeria’s digital transformation initiatives

The European Union has reaffirmed its dedication to supporting Nigeria’s digital economy with an €820 million investment aimed at fostering innovation, developing digital infrastructure, and creating employment opportunities for young people.
At the Omniverse Summit in Lagos on Friday, the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, stressed the importance of digitalisation in driving economic growth.
He noted that the EU’s Global Gateway Strategy is focused on empowering Nigeria’s digital ecosystem through regulatory support, skills development, and strategic partnerships.
“The EU is keeping its commitment with the over €800 million digital package announced for Nigeria. We believe that the challenges facing humanity require collective action, and Nigeria, Africa, and Europe’s destinies are closely interlinked,” Mignot stated.
With this investment, the EU aims to strengthen Nigeria’s digital sector by enhancing governance infrastructure, supporting startups, and enabling young entrepreneurs to access new opportunities in the global digital economy.
The summit is organised in collaboration with various partners, including the European Union, GIZ’s Sustainable Economic Development Cluster (SEED) and Digital Transformation Centre Nigeria, the Centre for Black and African Arts and Civilization (CBAAC), the National Information Technology Development Agency (NITDA), and the Federal Ministry for Art, Culture, Tourism and Creative Economy, among others.
News
Court dismisses criminal charges against Lizzy Anjorin

Nollywood actress and businesswoman, Elizabeth Anjorin, better known as Lizzy Anjorin, has been discharged of all allegations in a case involving her and Saheed Mosadoluwa, aka Ibile, Harmony Gardens and Estate Development Limited in Ilorin, Kwara State.
The case filed as a direct criminal complaint was heard at the Upper Area Court I, Ilorin, Kwara State capital.
During the proceedings, the Attorney General stepped in, took over the case, and applied for its termination.
Presiding over the matter, Hon. Yunus Kayode ruled in favour of the Attorney General’s request, leading to the dismissal of the case.
The court’s ruling, issued on Wednesday, March 12, 2025, read, “Upon a direct criminal complaint made by Muazu Baba Yusuf, Esq., dated February 26, 2025, and after listening to A. M. Abdulraheem, Esq., for the complainant and Prof. O. Y. Abdulhamid, Esq., with I. M. Adedo, Esq., Taofeeq Olateju, Esq., and Abdullahi, Esq., for the defendant.
“Having listened to the submission from the complainant counsel and that of the defendant and particularly the application of the Attorney General to take up this case and pray for termination of the case, on this premise, the direct complaint dated February 24, 2025, and the cross-complaint dated March 11, 2025, are hereby terminated and the defendants are hereby discharged.”
The judgment was given at Ilorin under the seal of the court and the hand of the judge on Wednesday, March 12, 2025.
Reacting to the ruling in an interview on Friday, Lizzy Anjorin, who is the Chief Executive Officer, Califonia Paradise City, Ibeju Lekki, Lagos State, described the case as a cross-sue, adding that she and the complainant became defendants in the case before the ruling cleared her of all the criminal allegations.
She said, “The case bordered on a land dispute and it all happened in Lagos. But the complainant went ahead to file a criminal suit against me in Ilorin, Kwara State, to lock my enemy away in prison, and when I got there, I presented my evidence, cross-sued and both of us became defendants.
“I was summoned on Friday based on his case and I showed up, but we counter-sued him and on Tuesday, they sent his summon but he didn’t show up and when they wanted to continue with the case we filed against him, I withdrew it and left him for God.
“I am thankful to my fans, and most especially my lawyers for doing a good job. I also appreciate the judicial system in Ilorin. I appreciate the fact that they did a thorough investigation and also accepted my complaints and the evidence presented.
“The Kwara State Government, through its judiciary system, did not use their office and state to punish innocent people like me and for that, I am grateful. With all that people have been saying, my case proves that Ilorin is not how people paint it when it comes to their judiciary system.”
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