The Securities and Exchange Commission (SEC) says the Nigerian capital market will officially transition to a T+2 settlement cycle for equities transactions from November 28.

A notice signed by Mrs Efe Ebelo, Head of External Relations of SEC, said in Abuja on Thursday, that the move was designed to align with global best practices and enhance market efficiency.

The T+2 settlement cycle is a standard for securities transactions where the final transfer of ownership and payment occurs two business days after the trade date.

For example, a stock bought on a Monday would be fully settled by the following Wednesday (T+2), meaning the buyer must have paid for the stock and the seller must have delivered it by then.

Ebelo said the current T+3 (trade date plus three days) settlement cycle was now at the implementation stage following months of preparation and stakeholder testing.

She said the transition was expected to significantly enhance the country’s capital market by allowing investors quicker access to funds, thereby enhancing overall market liquidity.

Ebelo said the move would help to reduce counterparty risk exposure, thereby fostering a more stable and resilient market environment”.

”As the central counterparty, CSCS Plc has dedicated considerable effort and resources to ensure seamless operational and technical readiness throughout the transition.

“Extensive testing with market participants has been successfully conducted without any reported issues, reflecting high confidence in the market’s preparedness for this landmark change.

”Under the new system, all trades executed on Nov. 28, 2025, will settle on Tuesday, December 2, 2025, while transactions carried out before that date will continue to follow the existing T+3 schedule.

This means that trades executed on Thursday, November 27, will also settle on December 2, coinciding with the first batch of T+2 settlements,” she said.

Ebelo reaffirmed the commitment of the Commission towards building a modern, efficient, and transparent capital market.

She said the commission would continue to engage stakeholders to drive further improvements and strengthen Nigeria’s position as an attractive investment destination.

The Pension Transitional Arrangement Directorate (PTAD), has completed the payment of N3.9 billion arrears to 91,146 eligible pensioners under the Defined Benefit Scheme (DBS).

This is contained in a statement issued by the Head, Corporate Communication, Mr Olugbenga Ajayi in Abuja on Friday.
He said that the payment was part of the N32,000 increment approved by President Bola Tinubu.

“Breakdown of the payment are: N1.9 billion to 59,865 pensioners under Parastatals Pension Department, N830 million to 12,976 pensioners under Civil Service Pension Department and N620 million to 9,689 pensioners under Police Pension Department.
Others are: N551 million to 8,616 Pensioners under the Nigeria Customs Service (NCS), the Nigeria Immigration Service, and Prisons Pension Department,” Ajayi said.
The Executive Secretary of PTAD, Tolulope Odunaiya, reiterated the Federal Government’s commitment to settling all outstanding arrears and improving pensioners’ welfare under the Renewed Hope Agenda of the president.

The Executive Secretary of Rivers State Contributory Health Protection Programme (RIVCHPP), Dr Vetty Agala, has commended the efforts of focal persons of the health insurance agency domiciled in the 23 Local Government Areas of the state as they ensure that Rivers residents get enrolled into the insurance scheme.

The scheme aims to ensure that those enrolled do not pass through financial hardship when they want to access quality healthcare services.

Dr. Agala, who made the commendation during the 3rd quarter data validation meeting of the health insurance agency in Port Harcourt, noted that Rivers State has now moved to number 13 in the enrolment assessment throughout the federation, despite being the last state to implement the scheme in the whole country.

The Executive Secretary, represented by the Director of Administration of RIVCHPP, Dr. Emmyson Emeka Emordi, who gave the clarifications on Thursday, 14th November 2025, also reiterated the importance of data collection with integrity for informed decision-making.

In his goodwill message at the event, the Director Planning Research and Statistics of Rivers State Hospitals Management Board, Dr. G O C Wosu, who appreciated the Governor,Sir Siminialayi Fubara, Commissioner of Health, Dr. Adaeze Chidinma Oreh and the Executive Secretary of RIVCHPP, for a work well done, emphasised that Rivchhp has now become a household name, which is making positive impacts.

In another goodwill, Mr. Gift Buduzhi Oguzor, the Basic Health Care Provision Fund (BHCPF) focal person for Rivers State Primary Health Care Management Board, also commended the entire teamRIVCHPP for the excellent work done.

On his part, the head of the statistics unit of RIVCHPP, Dr. MacMoses Isaiah presented the trend analysis of the RIVCHHP’s programme data from its inception, showing uterlisation and enrollment per LGA and at the various facilities.
In a lead paper presented at the meeting, a consultant with RIVCHPP and the lead of 10X Beta, Dr. Femi Funso-Adebayo, urged the focal persons to be very sensitive and conscious of how they collate and share data, saying that data is very key in decision making, encouraging them to ensure that the data they dish out can stand the test of integrity.

Participants from the 23 LGA were impressed with the presentations and capacity building and promised to put more effort in ensuring total health coverage.
The meeting featured training, question and answer session, and goodwill messages.

Idanye Oruigoni
Head, Information/Public Relations unit,

The Nigeria Civil Service Union(NCSU) has commended the Governor of Rivers State, Sir Siminalayi Fubara for his goodness to civil servants in the State.

The National President of the union, Comrade Oluwole Adeleye Sunday, who made the commendation during the 113th anniversary celebration of the union and State Executive Council(SEC) meeting in Port Harcourt, said the happiness of the union for the return to power of the Governor is premised on his goodness to the entire workforce in the State and the implementation of long standing promotions of all deserving workers, with the payment of full financial entitlements to the workers, among other welfare policies of his administration for the public servants.

He assured Governor Fubara that members of the union would continue to be loyal to his administration and ensure that their support would enable him deliver his campaign promises through implementation of government policies.

While reflecting on the achievements of the union in the past 113 years of its existence, Comrade Sunday said the union has not deviated from the path of service delivery to the members, as the current leadership of the union is vigorously working in alliance with the Office of the Head of Service of the Federation to elongate the terminal Grade level of Executive Officers and other allied cadres to enable them progress from Grade Level 14 to Grade Levels 15 and 16, to enable them have fulfilled careers in the service.

Comrade Sunday, who was represented at the event by the General Secretary of the union, Comrade Olowoyo Gbenga, said the union would continue to sustain the principles of servant leadership such that the interest of members and welfare of its staff would be at the front burner in order to sustain the mission and vision of the union’s founding fathers.

In his welcome address, the Rivers State Chairman of NCSU, Comrade Chukwuka Richman Osumah said Governor Fubara has done well in terms of his administration attending to the welfare needs of civil servants in the State, stressing that as the year is drawing to a close, the union expects the Governor to do more for the workforce by payment of Christmas bonus.

He commended the Governor for all that his administration has been doing for both civil servants and the generality of the people of the State, saying, the spontaneous response of his administration to massive infrastructural development of the State is second to none.

Osumah appealed to Governor Fubara for provision of operational bus to the union to ease movement and a parcel of land to build a befitting union secretariat.

He described NCSU as the mother of all industrial unions in the country, being the first labour movement in the country, established on August 19, 1912.

According to him, the Nigeria Labour Congress(NLC), the Trade Union Congress(TUC) and other industrial unions in the country are all offshoots and products of NCSU.

The labour leader noted that the union itself is older than Nigeria, since the Northern and Southern Protectorates were amalgamated in 1914, saying the union would continue to uphold the ideals for which it was established by its founding fathers.

He said if not for the state of emergency declared in the State, the celebration of the 113th anniversary of the union would have taken place in August but decided to keep it on hold until the return of democratic governance in the State.

In his goodwill message, the Rivers State Chairman of the Trade Union Congress(TUC), Comrade Josiah Udoka Ugochukwu paid glowing tribute to the leadership of NCSU in the State for organising the event.

He said the union has ignited a flame of worker dignity since its founding in 1912 which has become a beacon for labour movement in the country, stressing that for over a century, the NCSU has not just endured history but has also forged and reshaped it with unyielding courage and resilience.

He noted that workers today are at a crucial moment of their national history, as they are confronted by towering economic challenges, including soaring inflation and harsh fiscal policies, which have made the theme of the celebration, “Navigating Economic Challenges, Strengthening Union Solidarity and Members’ Welfare”, “not just a topic, but our battle cry.”

“This is our moment to answer that call.But to conquer new frontiers, we must forge a new pact. The era of confrontation must give way to a powerful partnership for national progress.Recall that the civil service is the very engine of this nation, and a motivated workforce is its most vital fuel,” he said.

He said to adequately oil the engine for optimal performance, social dialogue that is continuous, built on mutual respect, and focused on a shared vision is required, saying, “Together, we can re-build a civil service that is digital, innovative, and empowered to deliver the dividends of democracy to every Nigerian.”

For calling for social dialogue, Ugochukwu said the TUC is not asking for a favour from government but stating a fundamental principle of industrial relations anchored on partnership.

“This partnership is a necessity, not a concession. It is the critical mechanism that determines the health of the relationship between the employee and the employer, and the trade unions. To ignore this is to invite discord and stagnation,” he said.

Also speaking, the Chairman Emeritus and former Rivers State Chairman of NCSU, Comrade Opuoyibo Lilly West commended the union for celebrating its 113th anniversary, and expressed delight that the union is still standing and waxing strong in the face of debilitating challenges.

He particularly praised the state leadership of the union under the watch of Comrade Chukwuka Osumah, saying, the union is doing well.

He paid glowing tribute to the union chairman for his forthrightness, consistency and courage, which he exemplified during the period of emergency rule in the State.

He noted that when several others deviated from the course, the state chairman of the union chose a path, remained true to it,and stood his ground even in the face of threats.

On his part, the Rivers State Chairman of the Joint Negotiating Council, Comrade Emecheta Chuku commended the NCSU in the State for having the right leadership, saying the leadership of the union in the State can be trusted and relied upon, as the union is playing a vital role in the development of the State.

He said the union and the Joint Negotiating Council in the State have enjoyed a robust relationship, contending that the 113 years of the existence of NCSU is 113 years of experience and wisdom.

The highpoint of the event was the presentation of a keynote address by the Assistant General Secretary of the union, Comrade Dan Otakpo, who explored ways and means of mitigating the effects of the economic challenges facing public servants in the country.

He also harped on the need for improved union solidarity on the part of members of the union, saying, effective communication and participation in union activities are key.

Mrs Tenioye Majekodunmi, the Director-General, National Council on Climate Change (NCCC), says Nigeria is ready for 32.2 per cent emission reduction by 2035.

Majekodunmi said this on Thursday during a meeting on Climate Finance and Carbon Markets on the side of the 30th United Nations Climate Change Conference of the Parties in Belem, Brazil.

According to her, the per cent emission reduction will have an estimated annual Carbon market value of about 2.5 billion dollars by 2030.

“This reflects a strategic vision to leverage mark-based and non-market mechanisms to meet and exceed the country`s Nationally Determined Contribution (NDC) commitments.

“This ambitious target is underpinned by the potential for significant investments in low-carbon and clean energy projects, which will reduce emission and drive sustainable economic growth, create jobs, and provide new revenue streams for climate interventions.

“As Africa`s largest economy, Nigeria is poised to lead as Africa`s hub for high-integrity Carbon market investment, setting the benchmark for low-carbon, climate-resilient socio-economic development, “ she said.

NCCC director-general said the Carbon Market Activation Policy (CMAP) was designed to bolster Carbon market activities in the countries.

According to her, the policy provides the guidelines and procedures that will foster Nigeria`s objective to reduce GreenHouse Gas (GHG) emissions while promoting sustainable development through the carbon market mechanism.

“This policy informs Nigeria`s efforts to provide a well-defined system that will coordinate progress in GHG emissions reduction, address fiscal-related issue (like taxes, subsidies among others and build investor`s confidence.

“Also, to establish a detained institutional arrangement that clearly defines the roles and responsibilities of key stakeholders and ensures the generation of high integrity and high-quality Carbon credits, while also safeguarding market transparency.

“A key objective of this policy is to facilitate Nigeria`s participation in national, regional, continental, and international Carbon markets,” she said.

She said the policy would also enhance development of governance and regulatory mechanisms that would encourage international and local investors to develop emission reduction projects to support national climate mitigation goals while availing funds for sustainable development.

Speaking, Mrs Tariye Gbadegesin, the Chief Executive Officer, Climate Investment Funds, said Nigeria had one of the best Carbon Market Framework policies in the world.

Gbadegesin maintained that the nation was indeed really ready for the carbon market in the country.

According to her, Nigeria`s institutional framework provides clear roles and responsibilities for all the institutions that will be involved in the carbon market mechanism.

“This will ensure that there is no overlap or duplication of responsibilities. This robust institutional framework will govern the country`s participation in both Article 6 mechanisms under the Paris Agreement and Voluntary Carbon Market ( VCM) .

“The Nigeria`s institutional framework also provides other mechanisms such as the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

“The institutional framework will be backed by the regulatory framework that the government intends to develop,” she said.

A Traditional Ruler in Rivers State, His Highness Epelle D. E. Asuk-okpong IV has commended the Rivers State Governor, Sir Siminalayi Fubara, for his recent speedy action on ongoing projects across the state .

Asuk-okpong, the Paramount Ruler of Egwe-Asukokpong in Asarama district of Andoni Local Government Area, lauded the governor while on sight Tour with his Cabinet on a section of Andoni road linking Oyorokoto Fishing Community yesterday in the Area.

The Paramount Ruler, who expressed a high level of satisfaction on the speedy of work on the road, commended the governor for the seriousness attached to the project.

According to him, “there is a serious motivation on the part of the Contractor company handling project

“With what I am seeing today, I can say that the Company has redouble its effort by 50 per cent after the governor’s inspection on the road last October 28, 2025.

“I thank God for his intervention to the political impasses that was trying to slow down the paste of developments in the State.”

The Traditional Ruler, who doubled as PRO of Asarama Divisional Council of Traditional Rulers , and Secretary Asarama Town Council of Traditional Rulers said his Cabinet and the Traditional Rulers in his domain will continue to support the efforts of Government of all levels to ensured Security and developments in the Area.

He also appealed to the State Government to intervene in the abandoned Asarama, Engendem, Unyeada Ring Road in the area.

It would be recalled that the Rivers State Governor, Siminalayi Fubara, last month, October 28th has visited the Andoni Atlantic Ocean shoreline to inspect the 13-kilometre road project currently under construction.

The road, when completed, will provide direct access to the beach and link Oyorokoto the largest fishing settlement in West Africa to Ngo, the headquarters of Andoni Local Government Area which has since been linked to mainland Ogoni by the Governor.