News
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.
•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.
News
South African kills Nigerian bar worker
Olaleye was allegedly shot by a South African national following an argument over whether a drinking glass should be taken outside the bar.
• South African police
The Nigerian Union in South Africa (NUSA) says Olatunde Olaleye, a 40-year-old father of two, has been shot dead in the country.
According to NAN, NUSA said Olaleye, an indigene of Ikere-Ekiti, was killed on September 21 while working at Spanata Bar and Grills in Mamelodi, Pretoria.
Smart Nwobi, NUSA president-general, in a statement on Thursday, said Olaleye was a husband and father of two children, adding that his death has left his family devastated.
He said the union is concerned by reports that Olaleye was allegedly shot by a South African national following an argument over whether a drinking glass should be taken outside the bar.
According to him, there were also reports that the suspect returned to the premises to threaten the bar’s management, with a promise that members of his crew would return.
Nwobi called for a thorough, transparent and impartial investigation into the circumstances surrounding the incident.
“We cannot continue to lose Nigerians under circumstances that leave families devastated and communities traumatised,” he said.
News
Nigerian Editors Brace for Democracy Protection Ahead of 2027 Elections
“As editors, we must remain above board in an increasingly polarised environment. We must not become agents of disorder. Neither should we display contradictory tendencies that cause the citizenry to question our credibility,” Anaba said.
Enugu|•L-R Prof Pat Utomi; Prof Chinyere Okunna and Eze Anaba President Nigerian Guild of Editors at the 22nd All Nigerian Editors Conference in Enugu. Photo. Nwankpa Chijioke
Nigerian editors have been urged to protect the credibility of the ballot and help safeguard democracy as the country prepares for the 2027 general elections.
The call was made by Eze Anaba, President of the Nigerian Guild of Editors (NGE) and Editor of Vanguard Newspaper, in his welcome address at the 22nd Annual All Nigerian Editors Conference, which opened today in Enugu.
The conference is themed, “The Ballot, the Media and the Task of Keeping Democracy Alive.”
Anaba said the media, alongside other critical institutions, had a responsibility to nurture democracy by ensuring that voters were adequately informed and that electoral outcomes reflected the choices of the people.
According to him, the ballot can only fulfil its democratic purpose when voters have access to credible information and are able to make their choices freely, without intimidation or undue influence.
He urged editors and journalists to uphold verification, independence, accuracy, fairness, accountability and courage, particularly in an era of social media, artificial intelligence, deepfakes and the rapid spread of misinformation.
“As editors, we must remain above board in an increasingly polarised environment. We must not become agents of disorder. Neither should we display contradictory tendencies that cause the citizenry to question our credibility,” Anaba said.
He stressed that the media’s overarching responsibility was to serve the public good and help ensure that government derived its legitimacy from the consent of the people.
News
Works Minister Orders Tinubu’s Pictures On First Niger Bridge
“The President has worked so hard and we need to reward his hard work by decorating this bridge with his pictures.”
Minister of Works, David Umahi, has ordered the removal of illegal advertisements from the rehabilitated First Niger Bridge and their replacement with pictures of President Bola Tinubu, saying the display would recognise the President’s work on infrastructure.
Umahi gave the directive during an inspection of ongoing rehabilitation works on the bridge linking Anambra and Delta states.
He said the bridge was expected to reopen to motorists next week, subject to the completion of critical structural work.
“Once we are done with work on this bridge, I want all the illegal adverts on this bridge removed. Anyone who wants to advertise should apply to the Ministry of Works. For now, the bridge will be decorated with the pictures of President Tinubu,” Umahi said.
“The President has worked so hard and we need to reward his hard work by decorating this bridge with his pictures.”
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