By Ginika Okoye

Promoters and operators of entities engaged in a prohibited scheme are liable to a penalty of not less than N20 million or imprisonment to a term of 10 years or both.

The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said it is one of the provisions of the newly signed Investments and Securities Act (ISA) 2025.

The News Agency of Nigeria (NAN) reports that President Bola Tinubu recently assented to the Act.

Agama said the new Act would strengthen the legal framework governing Nigeria’s capital market.

He said the commission previously lacked the legal power to prosecute ponzi scheme operators, which had made it difficult to bring offenders to justice.

He said the Act would help the commission to better protect investors, and introduce reforms that would promote market integrity, transparency, and sustainable growth.

”So, N20 million is not the entire penalty or the entire money that will be charged or sanctioned to any suspecting or any accused capital market or non-capital market operator.

”It is just part of the penalties and or the sanctions that will be meted against such persons.

”Any profits or gains obtained from defrauding Nigerians will be recovered because it is not about the quantum of the fraud, it is about sanctions that will deter people from even getting into it.

”We recognise that a lot of Nigerians have fallen prey to these schemes and the reason why that is the case is because there were no sanctions.

”Protecting the investors in Nigeria is a cardinal responsibility of SEC and this law has provided the SEC with stronger powers to be able to do that,” he said.

The director-general said the Act had also introduced transformative provisions to further align Nigeria’s market operations with international best practices.

NAN reports that the ISA, 2025, had repealed the Investments and Securities Act No. 29 of 2007.  (NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma

By Salif Atojoko

President Bola Tinubu has congratulated Mr Jim Ovia, the founder and chairman of Zenith Bank Plc, on his admission to the prestigious Freedom of the City of London.

President Tinubu described the honour as a fitting recognition of Ovia’s exceptional contributions to business, innovation, and technology.

He also highlighted Ovia’s significant role in shaping Nigeria’s financial landscape and strengthening economic ties between Africa and the rest of the world.

“This honour is a testament to your unwavering commitment to excellence, your pioneering role in the growth of the financial services sector in Nigeria,” the President said.

Tinubu said Ovia’s visionary leadership would continue to inspire generations.

The President commended Ovia for being a distinguished ambassador of Nigeria’s private sector and wished him continued success in his future endeavours.

Admission to the Freedom of the City of London is a prestigious honour bestowed upon individuals either for their service to the city or for their significant achievements. (NAN)(www.nannews.ng)

Edited by Abiemwense Moru

By Rukayat Moisemhe

Mr Hakeem Ogunniran, a thought leader in real estate, has projected Africa’s real estate market potential to reach $17.64 trillion by 2025.

Ogunniran said this at the Nigerian-British Chamber of Commerce (NBCC) Real Estate Summit on Friday in Lagos.

The summit, with the theme, “The Future of Real Estate: Floating Cities, Skyscrapers & Tech-Driven Living,” explored innovations shaping the industry.

The Eximia founder highlighted that the residential segment alone was valued at $14.87 trillion, with a projected annual growth rate of 5.58 per cent from 2024 to 2029.

According to Ogunniran, Nigeria’s real estate sector presents enormous opportunities, estimating its market value at $2.61 trillion in 2025, with residential real estate accounting for approximately $2.5 trillion.

He identified key drivers shaping the future of Nigeria’s real estate sector, including, strong compliance and regulatory frameworks, adoption of property technology and digital transformation.

Others are, sustainability and green building practices, integrated urban planning, innovative financial solutions, and affordability and accessibility.

To maximise these opportunities, he urged Nigeria to stay ahead of industry shifts and leverage emerging trends in housing and construction.

Ogunniran pointed out potential areas for investment to include, student hostel, accommodation, card homes, co-living and co-working spaces and crowdfunding in real estate.

Also listed are, logistics warehouses and data centres, digitised real estate assets, and neighbourhood retail centres.

“The key pillars of a modern real estate framework are livability, sustainability, resilience, and affordability,” he said.

Mr Akin Opatola, President of the International Real Estate Federation (FIABCI Nigeria), stressed the need for innovation to address Nigeria’s evolving real estate landscape.

He advocated for exploring floating cities and skyscrapers as solutions to land shortages and climate risks.

“The future of real estate development requires professionals to embrace blockchain for property transactions, AI-driven property management, and public-private partnerships,” Opatola said.

Mrs Udo Okonjo, CEO of Fine & Country West Africa, highlighted the importance of long-term sustainable development.

She emphasised that floating cities could be resilient to flooding, space-efficient with vertical density, and incorporate smart infrastructure to drive sustainability and innovation.

Mr Ray Atelly, President of the NBCC, noted that the real estate and construction sectors were at a critical turning point, driven by rapid urbanisation, climate adaptation, and technological advancements.

He highlighted how the industry is shifting towards vertical megacities, floating urban centres to combat rising sea levels and tech-driven and sustainable living solutions.

“The summit is a call to action for stakeholders in construction, real estate, and urban planning to rethink traditional development models,” Atelly said.

“Nigeria, as Africa’s largest economy, has the potential to lead the way in shaping future-forward cities that are smart, resilient, and inclusive.”

He, however, emphasised the need to tackle challenges such as infrastructural deficits, sustainability concerns, and technology adoption.

“The time is now to reimagine how we build, innovate, and create spaces that serve both present and future generations,” Atelly added. (NAN)(www.nannews.ng)

Edited by Kevin Okunzuwa

By Vivian Emoni

The Abuja Chamber of commerce and Industry (ACCI) has inaugurated a joint action committee on women economic empowerment to drive policy reforms and business growth.

Chief Emeka Obegolu, President, ACCI, who inaugurated the committee on Wednesday in Abuja, said that the effort was to advance gender-responsive policies and eliminate barriers for Women-Owned Businesses (WoBs).

Obegolu said that the ACCI collaborated with policymakers, business leaders and women entrepreneurs to ensure that women entrepreneurs have equitable access to finance, market opportunities, and regulatory support.

The ACCI president was represented by the 1st Deputy President of the Chamber, Prof. Adesoji Adesugba.

“In a landmark move to foster inclusive economic development, the ACCI, in collaboration with key government agencies and development partners, inaugurated the committee on Women’s Economic Empowerment.

“The establishment of this committee is not just a symbolic gesture; it is a structured platform dedicated to policy reforms, advocacy and the creation of an enabling environment where women entrepreneurs can thrive.

“The chamber stands shoulder to shoulder with you and will provide unwavering support,” he said.

Obegolu reiterated the ACCI’s dedication to championing women’s economic agenda.

He also appealed to Ministries, Departments, and Agencies (MDAs) for their full cooperation, as the effort would boost business in the country.

He expressed hope that more MDAs within the Federal Capital Territory (FCT) would align with this vision to support, not only ACCI women, but other women across the country.

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, emphasised the strategic importance of the initiative in strengthening Nigeria’s economic landscape.

Wike was represented by Mr Simon Kato, Director of Economic Planning, Revenue Generation and Public-Private Partnership Secretariat of the FCT.

“This committee is not merely symbolic. It is a commitment to fostering synergy and driving actionable reforms that will create an enabling business environment for women entrepreneurs across the country.

“Our administration remains dedicated to advancing women’s economic empowerment and ensuring gender-responsive procurement in the FCT,” he said.

The FCTA Mandate Secretary for Women Affairs, Dr Adedayo Benjamins-Laniyi, highlighted the secretariat’s ongoing efforts in empowering women and the progress made so far.but

She said this is the right time to take action, and the committee serves as a crucial pathway to defining and addressing women’s needs to ensure their economic growth.

“The future is not just about feminism; it is about connection. We need both genders to work together towards a holistic and locally implemented agenda.

“A collaborative approach is necessary to drive progress,’’ Benjamins-Laniyi said.

Mrs Roseline Nwosu, the Chairperson of the committee, expressed her gratitude and determination to lead it toward impactful policy reforms.

Nwosu outlined the committee’s key objectives, including advocating for gender-inclusive governance and institutionalising a standardised definition for WoBs.

She said that the objective of the committee would also driving affirmative procurement policies that enhance women’s participation in business.

Nwosu said that the inauguration marked a crucial step toward breaking systemic barriers and fostering an inclusive business environment for the benefits of all.

She was represented by Mrs Chioma Njoku, Chairperson of the ACCI Women in Business Trade Group.

She said that the initiative had strong backing from the Investment Climate Reform (ICR) Facility, a key development partner supporting policy innovation for women’s economic empowerment.

“Their continued collaboration with ACCI underscores the global recognition of women as critical drivers of economic growth,” she said.

The News Agency of Nigeria (NAN) reports that the stakeholders reaffirmed their commitment to ensuring that women entrepreneurs in Nigeria have the tools and support needed to thrive. (NAN)(www.nannews.ng)

Edited by Kadiri Abdulrahman

By Rukayat Moisemhe

Experts have tasked companies’ secretaries, registrars and administrators on the responsible use of Artificial Intelligence (AI) while enhancing Environmental, Social, and Governance (ESG) practices and data management.

They gave the advice at the 2025 Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) Company Secretaries and Registrars’ Forum in Lagos.

The forum’s theme was: “Enhancing the AI Mindset in Delivering Sustainability Principles on Data Management and Governance”.

Mr Christopher Ogirri, Data Engineering Lead, KPMG Africa, said as governance professionals, secretaries and registrars played a crucial role in ensuring compliance, transparency, and efficient corporate decision-making.

Ogirri said ESG reporting would become mandatory in Nigeria by 2028, following the Financial Reporting Council Adoption Readiness Roadmap.

He said that large Public Interest Entities (PIEs) must comply by 2027, with others following in 2028, and Small and Medium Enterprises required to report from 2030.

He stressed that as organisations adopt AI to enhance ESG data management and governance, secretaries and registrars must be aware of key concerns related to data privacy, security, and reliability.

He added that regulatory and governance concerns must be carefully addressed to ensure compliance, transparency, and ethical decision-making.

“Managing vast amounts of ESG-related data presents significant challenges, including accuracy, consistency, and regulatory compliance.

“While AI enhances ESG reporting by automating data collection and analysis, improving transparency and compliance, governance professionals must ensure its responsible and ethical use.

“As organisations integrate AI into governance and ESG processes, secretaries and registrars must collaborate with technology teams to ensure that AI tools align with compliance and ethical standards,” he said.

Mrs Funmi Ekundayo, the President, ICSAN, said the forum revolved around discreet application of Artificial Intelligence to deliver cutting-edge results in data management and governance.

Ekundayo said that data management referred to the practices of collecting, organising, protecting and storing data to enable its analysis for informed business decisions.

She added that it involved various aspects such as data governance, quality management, security, and integration.

Ekundayo noted that AI offered undeniable benefits such as faster performance, reduced human errors, elimination of injury in hazardous environment among others.

She, however, stressed that there was currently increasing awareness on the imperative of safe and environmentally-corporate business practices inclusive of AI adoption and usage.

“Hence, the need to find ways AI can be employed as a technical accelerator and incubator mechanism for delivering innovations and products in consonance with sustainability principles on data management and governance.

“Developing the appropriate mindset is a sine qua non for achieving success in any endeavour, and our focus at this forum is to enhance AI mindset for optimal delivery,” she said.

Dr Leo Okafor, the Company Secretary, United Capital Plc, emphasised the need for an ethical AI committee, chaired by independent committee board members to identify gaps in the system to drive accountability.

Okafor also called for the awareness and implementation of the laws on responsible AI use, saying organisations must have a framework that protects data and corrects breaches.

Mr Bamidele Oseni, the Managing Partner, Caleb Consulting Uganda Ltd., said secretaries and administrators must take advantage of compliance software, block chain technology to drive organisational efficiency.

“For everyone using AI, there are obligations such as risk management system, data system, human oversight, robust cyber security framework for accountable AI use,” he said.

Mr Clifford Akpolo, the Head, Group Communications and Partnership, Nigerian Exchange Group (NGX), said AI facilitated ESG reporting, data analytics and optimised operation and energy costs.

Akpolo, however, noted that AI was as good as the person administering it.

He revealed that the NGX was exploring how to enhance operations via AI seeing the peculiarities of the stock market. (NAN)(www.nannews.ng)

Edited by Abdulfatai Beki/Chinyere Joel-Nwokeoma

By Abiodun Lawal

The President of Dangote Group, Alhaji Aliko Dangote, says his company returned to invest in Ogun due to Gov. Dapo Abiodun’s investor-friendly policies.

Dangote made this known during a courtesy visit to the governor at his office in Abeokuta.

He noted that the state had become one of Nigeria’s most attractive investment destinations by positioning itself as the manufacturing ‘bedrock’ of the nation.

The Dangote Group President praised Abiodun’s vision and policies, which deliberately supported private sector growth and encouraged enterprise through immense cooperation with investors.

“Our factory at Itori was demolished twice. During the second incident, not just the factory but the fence was pulled down, so we abandoned the project.

“However, due to Governor Abiodun’s efforts, we have returned. Anyone visiting the factory now would be amazed at the progress achieved,” he said.

He revealed that the company had earlier abandoned its plan to invest in the Olokola Free Trade Zone in Ogun Waterside Local Government due to previous setbacks.

“Thanks to your policies and a favourable business climate, we are returning to Olokola. Plans are underway to construct Nigeria’s largest port,” Dangote pledged.

Providing an update on projects, Dangote disclosed two new cement plant lines with a combined capacity of 6 million metric tonnes per annum had been built in Itori.

A 12 million metric tonne per annum cement plant, he added, is also sited at Ibeshe, boosting the group’s production capacity in the state.

Upon completion, the combined output of the company’s plants in Ogun would reach 18 million metric tonnes annually, making it Africa’s top cement-producing region.

He emphasised that Nigeria’s growing economy required private firms to support government initiatives, and Dangote Group remained committed to national development.

He affirmed his company’s dedication to investing in Nigeria and transforming the economy by showing unwavering belief in the country and its people.

In response, Abiodun thanked Dangote for the visit, and for his trust in the state and continued commitment to Nigeria’s economic progress.

He also commended Dangote for creating jobs and significantly contributing to national development through business expansion and global advocacy for Nigeria.

“Your selfless promotion of Nigeria globally is commendable. Your life story remains an inspiration to many young Nigerians striving for success.

“Ogun welcomes your renewed investment. Today, March 17, is historic – the same month you broke ground for the Lagos refinery project.

“You have not only completed the Itori factory but also chosen to develop Nigeria’s largest port here. For this, I express my profound gratitude,” he said. (NAN) (www.nannews.ng)

Edited by Kamal Tayo Oropo

Investors in stock market traded 3.281 billion shares worth N63.517 billion in 60,782 transactions on the Nigerian Exchange Ltd. (NGX) during the week.

NGX, in its weekly report made available in Lagos, said this was in contrast to 1.818 billion shares valued at N47.226 billion in 64,222 deals last week.

Consequently, the value of transactions traded by investors on the Exchange soared by 34.5 per cent.

The Financial Services Industry led the activity chart with 2.302 billion shares valued at N25.014 billion traded in 27,625 deals.

This contributed 70.17 per cent and 39.38 per cent to the total equity turnover volume and value respectively.

The Consumer Goods industry followed with 421.846 million shares worth N3.796 billion in 6,149 deals.

The third place was the Services Industry, with a turnover of 228.075 million shares worth N800.274 million in 4,741 deals.

Trading in the top three equities namely Sovereign Trust Insurance Plc, Champion Breweries Plc and Jaiz Bank Plc accounted for 1.621 billion shares worth N3.244 billion in 1,528 deals.

This contributed 49.42 per cent and 5.11 per cent to the total equity turnover volume and value respectively.

38 equities appreciated in price during the week, higher than thirty 30 equities in the previous week.

46 equities depreciated in price, lower than 58 in the previous week, while 66 equities remained unchanged, higher than 62 recorded in the previous week.

The top five decliners for the week were: Neimeth International Pharmaceutical, Mecure industries, International Energy Insurance, University Press and Conoil as they lost 51k, N1.30, 20k, 48k and N36.80, respectively.

Livestock Feeds, Caverton Offshore Support Group, FTN Cocoa Processors, CWG and Tantalizer were the top five gainers for the week as they grew in 22.16 per cent, 15.38 per cent, 14.20 per cent, 13.21 per cent and 13.14 per cent, respectively.

The companies gained N1.85, 40k, 23k, N1.05 and 34k, respectively. (NAN) (nannews.ng)

Edited by Olawunmi Ashafa