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NGX: Market Increases By N733bn To End Week Positive

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The Nigerian stock market closed the week upbeat, gaining N733 billion or 0.75 per cent, and boosting investor portfolios.

The positive trend was driven by sustained investor interest in heavyweight stocks such as Aso Savings, Ikeja Hotel, Regency Alliance Insurance, Caverton Offshore, Aradel Holdings, and others.

The Nigerian Exchange Ltd. (NGX) market capitalisation rose from N98.059 trillion at opening to N98.792 trillion at Friday’s close.

Similarly, the All-Share Index (ASI) advanced by 0.75 per cent or 1,155.15 points, closing at 155,645.05 compared to 154,489.90 recorded on Thursday.

Market breadth closed positive with 34 gainers and 25 losers recorded during the session.

Aso Savings led the gainers’ chart by 10 per cent, ending at 66k. Ikeja Hotel rose 7.89 per cent to N20.50, while Regency Alliance Insurance increased 7.44 per cent to N1.30.

Caverton Offshore advanced 7.08 per cent to N6.50, and Aradel Holdings appreciated 6.76 per cent to N790 per share.

Conversely, Union Dicon Salt led the losers’ table by 9.09 per cent, closing at N8. Neimeth Pharmaceutical fell 6.67 per cent to N5.60, while Cornerstone Insurance dropped 5.61 per cent to N6.23.

Halldane McCall declined 4.84 per cent to N4.13, and International Energy Insurance shed 4.48 per cent to N2.77 per share.

Market activity showed growth in turnover and volume, though the number of deals fell slightly.

A total of 1.21 billion shares worth N31.5 billion were traded across 29,989 deals, compared to 926.9 million shares worth N26.9 billion across 30,703 deals.

Fidelity Bank led the activity chart with 820.9 million shares valued at N16.14 billion.

Sovereign Trust Insurance followed with 45.5 million shares worth N176.96 million, while Tantalizer traded 32.7 million shares valued at N72.05 million.

Access Corporation transacted 23.8 million shares worth N593.4 million, and Guaranty Trust Holding Company traded 19.2 million shares valued at N1.78 billion.

PROMAD Foundation Wants South-South States To Embrace Open Government Partnership

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PROMAD Foundation, a Non-Governmental Organisation (NGO), has urged the South-South states to join the Open Government Partnership (OGP) to improve governance and development in their states.
Mr Daisi Omokungbe, PROMAD Founder and Executive Director, made the call at a workshop organised by the foundation for youths across the six states in the South-South region in Port Harcourt.

Omokungbe said that the workshop was co-funded by the Nigeria Youth Futures Fund and European Union while OGP Nigeria, Youth Democracy Cohort, and SERDEC were partners.
The workshop was themed, “Strengthening Youth Participation in the OGP Process in Nigeria”
Omokungbe said the workshop was aimed at engaging the youths in the region to air their views and ensure that their aspirations and needs were captured in the National Action Plan (NAP IV).
According to him, the engagement is part of the ongoing process of co-creating Nigeria’s OGP 4th National Action Plan (NAP IV), bringing together government and civil society actors to deepen transparency, accountability, and citizen participation in governance.
Omokungbe said that only two states in the South-South region had joined the OGP, stating the importance for other states to key into the global initiative.

The PROMAD Executive Director specifically called on the governments of Akwa Ibom, Bayelsa, Cross River and Rivers states to join the OGP, citing the benefits of improved governance and service delivery.

“Joining the OGP will help our states deliver more services to citizens, build trust, and make government more effective,” he said.

In his remarks, Mr Tijani Abduldareem, the Executive Director, Socioeconomic Research and Development Centre (SERDEC), advised young people to engage government constructively to achieve sustainable development and improve their lives.

He presented a paper titled, “Tools and Methods of Civic Engagement by Young People in line with the OGP Principle.”
He noted that the OGP provided an opportunity for co-creation among citizens and government, building trust and promoting transparency and accountability.

According to him, young people’s engagement in the development process is crucial as they occupy a large population of the country and can demand accountability and transparency in the utilisation of public finance.
Abduldareem identified some challenges faced by young people while engaging government as institutional framework and bureaucracy, but emphasised that consistent engagement and inclusion had been keys to overcoming the challenges.
He advised young people to move from active confrontation to constructive confrontation, engaging government in a way that would promote a sense of belonging and ownership.

“As a young person, it is your responsibility to be part of a development process that affects your life, your employment, and your basic livelihood.
“You have to open the door yourself with the way you engage with public office holders,” he said.

Similarly, Mr Uchenna Arisukwu, a facilitator, who spoke on the theme “Understanding the Open Government Partnership, Processes and Commitments,” emphasised the importance of young people inclusion in governance, citing their significant population majority.
Arisukwu explained that young people constituted about 90 per cent of the population, and their participation in decision-making processes was crucial for shaping the country’s future.
He stressed that excluding them from governance would be detrimental to the country’s development, adding that their inputs are essential for creating a more inclusive and responsive government.
Arisukwu also stressed the need for government and citizens to engage with policymakers to promote transparency and accountability in governance.

SWAN @ 60: Fubara, Green, Ogolo To Bag National SWAN Awards

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As part of activities marking the 60th anniversary of the Sports Writers Association of Nigeria (SWAN), the National Executive Council of the body has nominated Governor Siminialayi Fubara, of Rivers State to receive Distinguished Service -SWAN Merit Award.

The award is to be presented to him at the SWAN @60 Dinner/Award night scheduled to hold Thursday 30th October 2025, in Abuja.

Chairman SWAN Rivers State Chapter, Hon. Cyril Dum Wite (left) handing over the Veteran Sports Journalist nomination letter to former chairman of SWAN Rivers State Chapter and one time General Manager of Rivers State Newspaper Corporation, publishers of The TIDE newspaper, Mr. Celestine Ogolo, in Port Harcourt.

This is sequel to his numerous contributions to sports development in the country, most especially in Rivers State.

Others from the State that to also receive different categories of awards are; the Rivers State Commissioner of Sports, Barrister Christopher Green, Former Chairman of SWAN in the State and one time General Manager of Rivers State Newspaper Corporation, publishers of The TIDE newspaper, Celestine Ogolo and Veteran sports journalist, China Acheru.

The awardees were carefully selected following their profound contributions towards sports promotion, development and mentorship.

Speaking while receiving the nomination letter on behalf of the Governor, Barrister Green, thanked SWAN for recognising the good works of the Governor and confirmed the governor’s commitment to improve sports infrastructure, athletes welfare and youth empowerment.

“The governor has successfully hosted the first international marathon race in the State, sponsored several athletes to national and international tournaments and championships.

“Apart from that His Excellency has sustained moral and financial motivation of athletes”, Barrister Green said.

The Sports Commissioner who was also nominated to receive SWAN Meritorious Service Award equally used the opportunity to express his appreciation for recognising his contributions towards development of sports in the country.

He further pledged support to the association as sports writing, he said, served one of the catalysts for sports development.

“I thank God I am back to continue where I stopped as Sports Commissioner. My interest is to see Rivers State grow in sporting activities.

“I will not stop to do things that will make the State grow,” Barr. Green added.

Also speaking, Mr. Celestine Ogolo, who is to receive Veteran Sports Journalist Award, expressed joy over his nomination, saying that it would spur him to do more for the association.

“I am honestly very overwhelmed with joy, when I first got this hint. For me this particular award is so dear to me, I cherish it because it is coming from a constituency where I started my life as a journalist.

”Sports reporting was where I carved my niche in journalism. It was sports reporting that took me to various levels so I cannot forget this constituency. I cannot count myself out. I still belong to it.

”On behalf of my wife and family I sincerely thank SWAN , particularly Rivers State Chapter led by Cyril Dum Wite”, Ogolo, who is presently the Chief Executive Officer and Publisher of The Atlantic Bell Online news medium said.

Mr. China Acheru, who is also nominated to receive the Veteran Sports Journalist Award, equally thanked SWAN for recognising his contributions on sports development.

Acheru said he enjoyed writing sports because he has the passion.

” I thank SWAN for this recognition. I enjoy writing sports because I have that passion. I mentor people because people mentored me. I want to see other people to grow because people want me to grow”, Acheru said.

Speaking, the Chairman of SWAN Rivers State Chapter, Cyril Dum Wite, shortly after he handed over the nomination letters to the nominees, thanked them for their immense contributions to sports development.

He appealed to them to continue to support the association, in the areas of meaningful ideas and financially so that SWAN Rivers State Chapter will be stronger.

Navy Chief Commissions Nine NDDC Projects in Bayelsa … Says Facilities Would Bolster Security Operations

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The former Chief of Naval Staff, Vice Admiral Ikechukwu Ogalla, has commissioned nine state-of-the-art strategic security projects executed by the Niger Delta Development Commission, NDDC, in Ayakoro, Ogbia Local Government Area of Bayelsa State.

The projects commissioned are, “fully Furnished Administrative block; fully furnished accommodation block; fully furnished 40-man houseboat with two units of 100kva generators; two units of Gun Boats powered by 200 Hp units of Yamaha engines each; The host community, Ayakoro, will give the Nigerian Navy hectares of land as a gift to build a Navy school; a 60kVA solar inverter installed in the Administrative and Accommodation blocks, respectively, as backup power; a 30kVA Solar inverter installed in the 40-man houseboats as backup power; a full-option Toyota Hilux Vehicle for Operational use, and a Newly Built Operational Floating Jetty.”

A statement signed by Seledi Thompson-Wakama,
Director, Corporate Affairs of the NDDC said
the former Navy Chief, represented by the Commander, Operation Delta Safe, Rear Admiral Noel Madugu, stated that the operational facilities handed over by NDDC would bolster the Nigerian Navy’s presence and security operations.

He observed that Ayakoro was an important town located on the river, making it strategic and crucial for maritime security in the Niger Delta region.

He stated: “The event we are witnessing today is a statement of the existing close collaboration between the NDDC and the Nigerian Navy, which is geared towards addressing maritime security challenges in the region.

“I commend the vision and commitment of the leadership of the NDDC for citing the security project at Ayakoro with a view of addressing security challenges associated with the maritime environment in the region.”

“The Navy will spare no effort to ensure that objectives for which the security projects are provided will be fully realised.”

He solicited community support in intelligence sharing to enhance the operational effectiveness of the Nigerian Navy.

The Bayelsa State Governor, Senator Duoye Diri, stated that the Niger Delta region contributes substantially to Nigeria’s foreign exchange earnings, noting that it was evident that most of Nigeria’s maritime domain and international coastline outside of Lagos, all of which are within the Gulf of Guinea, are in the coast of the Niger Delta.

Governor Diri, represented by Brigadier General Eric Angaye (Rtd.), stated that the Niger Delta region was critical to Nigeria’s oil economy.

In his speech, the NDDC Managing Director, Dr Samuel Ogbuku, emphasised that security and development are interconnected and that a strong partnership with security agencies was crucial for sustainable development in the region.

Ogbuku reiterated the NDDC’s commitment to supporting security agencies in securing the waterways. He noted that the increased output of Nigeria’s crude oil was dependent on a secure marine environment, which required sustained collaboration with security forces.

He said that the NDDC has a history of providing infrastructure and other forms of support to the Nigerian Navy, including: including Building jetties for naval operations, Constructing schools and other infrastructure within naval bases and Assisting in the completion of numerous other projects at naval installations.

The Managing Director emphasised the need for collaboration to ensure that the Niger Delta region remained peaceful, noting that development could only take place in an atmosphere of peace and security.

He stated: “President Bola Ahmed Tinubu is committed to the peace and development of the Niger Delta region, and he has given us a matching order to embark on legacy projects that will stand the test of time and impact lives in the region. We cannot achieve this if there is no peace.”

“For us in NDDC, we will continue to collaborate with the security agencies to ensure that there is sustainable peace that will usher in development.”

Ogbuku stated that under the leadership of the current Board and Management, the Commission has demonstrated a commitment to achieving the Renewed Hope Agenda of President Tinubu, who is concerned about the development of the Niger Delta region.

Giving a brief overview of the projects, the NDDC Executive Director of Projects, Dr Victor Antai, listed the various projects scheduled for commissioning. “They are: fully Furnished Administrative block; Fully Furnished Accommodation block; Fully furnished 40-man houseboat with two units of 100kva Generators; two units of Gun Boats powered by 200 Hp units of Yamaha engines each; The host to God community, Ayakoro, will give the Nigerian Navy hectares of land as a gift to build a Navy school; A 60kVA Solar inverter installed in the Administrative and Accommodation blocks, respectively, as backup power; A 30kVA Solar inverter installed in the 40-man houseboats as backup power; A full-option Toyota Hilux Vehicle for Operational use; A Newly Built Operational Floating Jetty.”

He said the initiative aims to enhance maritime security in the region, addressing critical needs and ensuring the safety of both local communities and maritime activities. The NDDC remains committed to making a difference in the Niger Delta, fostering a more secure and sustainable environment.

The Acting Paramount Ruler of Ayakoro, Chief Micah Etebi, affirmed that the projects handed over to the Navy were testaments that the NDDC is impacting the people of the Niger Delta region.

Tinubu Replaces Service Chiefs

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President Bola Tinubu has reshuffled the nation’s security leadership to strengthen Nigeria’s defence and internal security framework.

‎This was announced in a statement on Friday in Abuja by the Special Adviser to the President on Media and Public Communication, Sunday Dare.

‎Gen. Olufemi Oluyede has been appointed Chief of Defence Staff, replacing Gen. Christopher Musa.

‎Maj.-Gen. W. Shaibu is now Chief of Army Staff, while Air Vice Marshal S.K. Aneke becomes Chief of Air Staff.
Rear Admiral I. Abbas assumes office as Chief of Naval Staff.

‎Maj.-Gen. E.A.P. Undiendeye retains his position as Chief of Defence Intelligence.
‎The appointments took immediate effect.

The shake-up comes after reports that the Defence Headquarters (DHQ) had apprehended several officers, including a Brigadier-General and a Colonel, for alleged involvement in a planned move to overthrow the government of President Bola Ahmed Tinubu.

‎President Tinubu expressed deep appreciation to the former service chiefs for their patriotism, sacrifice, and exemplary leadership.

‎He urged the new military leaders to justify the confidence reposed in them by upholding professionalism, vigilance, and unity within the Armed Forces of Nigeria.

 


Alleged Property Fraud: EFCC Witness Fails To Link Emefiele To Zenith Bank Accounts

An Economic and Financial Crimes Commission (EFCC)’ witness on Friday failed to link Godwin Emefiele to accounts in Zenith Bank in the alleged property fraud case.

Emefiele, a former governor of the Central Bank of Nigeria (CBN), is charged with property fraud, among others.

The property is located at Plot 109, Cadastral Zone C09, Lokogoma District, Federal Capital Territory (FCT), Abuja, measures 150,462.86 SQM and comprises 753 housing units.

Emefiele and Eric Ocheme, at large, are also charged with unlawfully keeping in their possession billions of naira in proxy accounts in Zenith Bank.

At the resumed hearing of the matter in an Abuja High Court, the first prosecution witness (PW1) Mshelia Arhyel was taken in evidence by prosecution counsel Rotimi Oyedepo, SAN.

He is a compliance officer in Zenith Bank, and he narrated how money was received and deposited in accounts of three companies.

The companies are MG properties limited, Ifedigo Integrated Services, and Kelvito Integrated Services.

The witness also mentioned names of cash depositors and transfers as Chukwuma Opara, Peters Adebayo, and Wilson.

Under cross examination by Matthew Burkaa, SAN, Emefiele’s counsel , the witness told the court that he does not know the owner of the accounts.

When he was asked if he was called to make a statement by EFCC in respect of the accounts, he said no and that he never knew he was going to testify..

He, however, said that he signed the certificate of compliance on May 29 and never knew he would speak to the document.

When asked if Emefiele’s name was on the account opening documents, he said no.

Justice Yusuf Halilu, after the cross examination adjourned until Nov. 26 for continuation of trial.

Earlier, Emefiele, through his counsel, challenged the court’s jurisdiction to entertain the suit on the grounds that he was not in any way linked with the charge and the charge should be quashed.

Burkaa told the court that they preliminary objection prays for three orders and 6 grounds with supporting affidavits and written address.

He argued on point of law and prayed the court to grant his prayers.

Responding, Oyedepo, for the prosecution, opposed the application, saying that the charge should not be quashed because the defendant (Emefiele) is linked to the charge.

After their submissions, the court asked them to go on with the trial, and their arguments would be looked unto.

The EFCC in count one of the charge accused Emefiele and Ocheme of knowingly having within their control the housing estate suspected to be unlawfully obtained contrary to the law.

In count two, they were alleged to knowingly have in their possession the sum of N167 million domiciled in Kelvito Integrated Services’ account.

In count three, they were alleged to have held the sum of N1.23 billion in the same account.

EFCC claimed that the said sums were s suspected to have been unlawfully obtained.

In other counts, they were also linked with the sum of N900 million and N600 million in Ifedigo Integrated Services’ account domiciled with Zenith Bank.

Why Nnamdi Kanu Failed To Open Defence, Friday … Court Adjourns Until Monday

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Nnamdi Kanu, leader of the proscribed Indigenous People of Biafra (IPOB), on Friday, failed to open his defence for the second time at the Federal High Court in Abuja in the alleged terrorism trial.

Kanu, who opted to defend himself, told Justice James Omotosho upon resumed hearing that his disengaged lawyers were yet to handover the case file to him.

“My lord, my counsel left the case yesterday and I have not received the file from them

“The few people that would have brought this were precluded from seeing me,” he said.

The IPOB leader then sought an adjournment to enable him prepared for his defence.

Although counsel for the Federal Government, Chief Adegboyega Awomolo, SAN, did not oppose the application, the senior lawyer prayed the court to stand by the standing order which directed Kanu to defend himself within six days.

“I m aware that there is a standing order for the defendant to defend himself within dix days.

“The defendant wasted yesterday. This is the second day my lord. I urge your lordship to keep to the standing order,” Awomolo said.

Justice Omotosho, who begged Kanu to make judicious use of the opportunity offered to him in line with Section 36 of the constitution to defend himself, said the defendant cannot be enforced to do so if he decided to waive the right.

The judge adjourned the matter until Monday for Kanu to open his defence.

Nigerian Farmers Association Commends RIVCHPP For Giant Strides in Health Sector

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Rivers State Contributory Health Protection Programme (RIVCHPP) has continued to receive positive accolades and commendations from different groups for the work they do.

The latest of such commendation came from AFAN, Rivers State Chapter, as contained in a letter signed by its Organising Secretary/ General Coordinator for Eleme Local Government Area of the group Safety Chua Awala Abbey .

In the letter, the Organising Secretary stated, ” I want to express my heartfelt gratitude for the incredible work you and your team did in Eleme Local Government. Your efforts have brought smiles to the faces of our farmers, and that is truly priceless ! The initiative to register farmers, aged 60 and above and pregnant women for completely free medical care is a blessing to us”.
The letter further stated, ” Your team’s dedication is making a real difference in the lives of our farmers”, with the Organising Secretary requesting for a date for RIVCHPP’s team to come for another work of enrolment still in Eleme.

Touched by the magnitude of the commendation, RIVCHPP’s Executive Secretary, Dr. Vetty Agala, in a reply, stated that the success of the health insurance agency is attributable to the commitment and support it has been getting from Governor Siminialayi Fubara, and the Commissioner for Health, Dr. Adaeze Chidinma Oreh.

Dr. Agala used the medium to solicit the support of AFAN in “scaling the laudable intervention to farmers across other 22 local government areas of the state “, assuring that RIVCHPP is ready and willing to assign private health providers to enrollees after payment for RIVCARE packages of the health insurance agency.

Subsequently, the Executive Secretary of Rivers State Contributory Health Protection Programme (RIVCHPP), Dr. Vetty Rolegherighan Agala, has called upon all eligible Rivers State residents to ensure that they register into the health insurance scheme as provided by RIVCHPP to enjoy and access quality healthcare services under the Basic Health Care Provision Fund which entitles enrollees to free medication and healthcare of different levels.

Dr. Agala’s call came after she from the BHCPF Ministerial Oversight Committee meeting where the BHCPF 2.0 Guideline was unveiled and a red letter signed by the coordinating Minister of Health/Social Welfare, Prof. Muhammad Ali Pate, stating that the Federal government of Nigeria has already disbursed #32.9 billion through the Basic Health Care Provision Fund as the 3rd round of payment to cater to the health needs of those the Ministry described as the vulnerable.

RIVCHPP’s Executive Secretary also stated that those eligible to enjoy health services provided with the Basic Health Care Provision Fund (BHCPF) are those above 60 years of age, pregnant women, children less than 5 years, the chronically ill, and some other criteria as approved by the agency, but she emphasised that no one without NIN is qualified to enjoy the services.

Kidnapping Related Crimes: Board Dismisses 10 Officers, Sanctions 21 Immigration Services Officers

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The Civil Defence, Correctional, Fire and Immigration Services Board (CDCFIB) has approved wide-ranging disciplinary measures against 31 officers of the Nigeria Immigration Service (NIS) for various offences.

This is contained in a statement issued on Friday in Abuja by the Service Public Relations Officer, Assistant Comptroller of Immigration (ACI), R Akinsola Akinlabi
Akinlabi said that the decision followed the review of recommendations of the board from its Disciplinary and General-Purpose Committee (BDGPC), which met on July 11, 2025.

According to him, the sanctions underscore the board’s resolve to enforce discipline, integrity, and accountability within the Services under its supervision.
“Eight officers were dismissed for serious misconduct and violation of Service Regulations, while five others were compulsorily retired for offences bordering on misconduct.

“Additionally, eight officers were demoted by one rank, and five were issued written warning letters.
“The board also review appeals by two dismissed officers but upheld their dismissal after finding no merit in their cases.

“However, one officer was reinstated following a successful appeal, while two others were exonerated of all charges,”he said.
In a related development, Akinlabi revealed that the service dismissed two junior personnel after they were found guilty of criminal conspiracy.
This, he said, was involving stealing, illegal possession of firearms, and kidnapping.

“Their dismissal followed internal disciplinary proceedings concluded on April 14 and Sept. 4, 2025, respectively,”he said.
Akinlabi said that the supervision was under the Chairman of the CDCFIB and Minister of Interior, Dr. Olubunmi Tunji-Ojo, and the leadership of the Comptroller-General of Immigration, Kemi Nandap.
He said that the NIS remained committed to maintaining the highest ethical and professional standards across all cadres.

“The disciplinary actions will be implemented without fear or favour and in strict compliance with extant rules and regulations,”he assured.

WAEC Test-runs Computer Based Essay Writing

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The West African Examinations Council (WAEC) has conducted a trial test on essay writing ahead of the Computer-Based WASSCE for School Candidates in 2026.

The exercise, led by Dr Amos Dangut, Head of WAEC’s Nigeria National Office, took place on Thursday at the WAEC Training and Testing Centre, Ogba, Lagos.

Senior secondary school students participated in the trial, designed to familiarise them with the upcoming computer-based format combining both objective and essay components.

Dangut explained that the initiative aims to prepare candidates for full digital examination participation while gradually bridging technological gaps among schools across the country.

He told the students that they were making history as the first group to attempt a full computer-based test combining both objectives and essays.

He added that while some schools will take both components online, those in areas without computer access will continue with the traditional essay format.

“Our goal is to create an inclusive system where every student can write conveniently, regardless of location,” Dangut said.

He assured that the new system will make the examination more efficient and accessible, ensuring fairness and comfort for all participating candidates.

Dangut reaffirmed WAEC’s commitment to maintaining the integrity and credibility of its examinations while helping students achieve academic excellence.

He urged students to embrace digital learning, describing technology-driven examinations as the future of education and a key to global competitiveness.