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60 Million Nigerians Engage Daily in Gambling Activities

Agama raised concerns over the alarmingly low participation of Nigerians in the traditional capital market, revealing that fewer than 4 per cent of the country’s adult population are active investors.

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•SEC DG, Dr. Emomotimi Agama.

More than 60 million Nigerians engaged daily in gambling activities, spending an estimated $5.5 million every day.

This was disclosed by the Director-General of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama.

Agama made the revelation in a lead paper, titled “Evaluating the Nigerian Capital Market Master plan 2015-2025,” presented during the annual conference of the Chartered Institute of Stockbrokers.

He said, “This reveals a paradox, a risk appetite clearly exists, but not the trust or access to channel that energy into productive investment.”

He disclosed that over $50 billion worth of cryptocurrency transactions flowed through Nigeria between July 2023 and June 2024, underscoring the sophistication and risk tolerance of investors that the traditional market has yet to capture.

Agama raised concerns over the alarmingly low participation of Nigerians in the traditional capital market, revealing that fewer than 4 per cent of the country’s adult population are active investors.

He described the low participation rate as a major impediment to economic growth and capital formation.

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JUST IN: Mob Sets BRT Bus Ablaze After Motorcyclist’s Death in Lagos

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An angry mob has set a Bus Rapid Transit (BRT) bus on fire after it reportedly crushed a commercial motorcyclist to death at Ogolonto Bus Stop along Ikorodu Road in Lagos State.

The incident occurred on Friday, October 16, 2026. Eyewitness accounts and social media reports indicate that the motorcyclist was riding alone along the restricted BRT lane when the collision happened. He died at the scene.

Enraged residents and youths then attacked the bus driver and set the vehicle ablaze. Police officers and officials of the Lagos Neighbourhood Safety Corps (LNSC), who were nearby, intervened promptly and rescued the driver unharmed.

The identity of the deceased motorcyclist and the exact circumstances of the crash had not been officially confirmed at the time of filing this report. It was also unclear whether any arrests had been made in connection with the burning of the bus.

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ARISE News Wins Seven Honours At Nigerian Broadcasters Merit Awards

The awards recognised the network’s achievements in television journalism and programming, with ARISE News winning the Best TV Channel (Viewer’s Choice) category.

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• ARISE News Anchor and host of What’s Trending Ojy Okpe was named Best Newscaster (TV – Female)

ARISE News has emerged as one of the major winners at the just ended Nigerian Broadcasters Merit Awards (NBMA).

ARISE News won seven honours across television broadcasting, news reporting, presentation and production during the ceremony.

The awards recognised the network’s achievements in television journalism and programming, with ARISE News winning the Best TV Channel (Viewer’s Choice) category.

The network’s flagship breakfast programme, The Morning Show, also won the Best TV Talk Show award, further strengthening its recognition in television broadcasting.

ARISE News Anchor and host of What’s Trending Ojy Okpe was named Best Newscaster (TV – Female).

Rufai Oseni was named Nigerian Broadcaster of the Year (Male), while Vimbai Mutinhiri-Ekpeyong received the Nigerian Broadcaster of the Year (Female) award.

The recognition extended to the network’s newsroom, with Ovieteme George winning Best TV News Reporter (Male) for his contributions to television news reporting.

Behind the camera, Sam Adeyemi received the Best Camera Operator/Cinematographer award, recognising his work in television production and visual storytelling.

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Meta removes 3.7 million accounts in West Africa scam crackdown

The joint operation led to 28 arrests, identified more than 30 suspected scam centres and rescued 117 people allegedly trafficked and forced to work in scam compounds in Ghana.

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Meta, the parent company of Facebook and Instagram, has removed more than 3.7 million Facebook and Instagram accounts, pages and groups linked to suspected scam networks operating in West Africa.

The joint operation led to 28 arrests, identified more than 30 suspected scam centres and rescued 117 people allegedly trafficked and forced to work in scam compounds in Ghana.

The company announced the crackdown in a statement on Tuesday, October 13, 2026. It involved 14 technology companies and law enforcement agencies from 10 countries.

The United Kingdom’s National Crime Agency coordinated the operation with the US Department of Justice, the Federal Bureau of Investigation and other agencies. Nigerian authorities were involved.

Other countries included Ghana, Australia, Canada, New Zealand and India.Tech companies that took part included Google, Microsoft, OpenAI, Coinbase, Starlink and Adobe.

Meta said the partnership let participants share intelligence across digital platforms, countries and financial systems to identify criminal networks.

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