SEC Warns Again Violation In Capital Market Says No Hiding Place

SEC warns again violation in capital market says no hiding place. The director-general said the SEC was committed to ensuring all market participants understood the commission’s responsibilities.

The Securities and Exchange Commission (SEC) says there is no hiding place for violators in the country’s capital market.

The director-general of SEC, Emomotimi Agama, gave the warning in a notice to operators on Sunday. Mr Agama said in the notice that market operators engaging in unscrupulous activities would not be allowed to go unpunished.

He described investors’ protection as a fundamental principle for the commission, noting that the Investments and Securities Act (ISA) 2007 clearly outlined the objectives of securities regulation.

Mr Agama said the ethics of regulating or registering a securities market operator is in the principle of the fit and proper person’s test.

”A fit and proper person’s test means that you satisfy all of the requirements that have been laid down in the ISA 2007 and in other regulations that the SEC has brought out to make sure that this happens.

”So, clearly, for us, it is getting people to understand that there is no hiding place anymore for anybody that has an intention to defraud Nigerians and to defraud anybody that is investing in this market,” Mr Agama stated.

He said the recent revocation of licences and suspension of operators not registered with SEC “is only a tip of the iceberg as to what we intend to do this year.”

SEC Warns Again Violation

”We believe strongly that a protected investor is a powerful investor, and we will do everything within the powers of the SEC and the Nigerian law to make sure that we deter unscrupulous persons who are involved in trying to defraud Nigerian investors,” Mr Agama said.

The director-general said the SEC was committed to ensuring that all market participants understood the commission’s responsibilities.

He said compliance and information disclosure were important to the capital market operation, describing them as the fundamental objectives of securities regulation.

Mr Agama urged existing and prospective market participants to work closely with the commission to foster market development.

Delta Government Strengthen Commitment To Sanitation Advocacy

Delta government strengthen commitment to sanitation advocacy. “Economic activities across the metropolis will thrive if all residents adhere to sanitation best practices,” he said.

The Delta State Capital Territory Development Agency (DSCTDA) says it will sustain its sanitation advocacy campaigns to improve environmental sanitation and hygiene practices.

The agency’s director-general, Patrick Ukah, made this known on Sunday while monitoring the community-based sanitation and sensitisation programme.

Mr Ukah underscored the importance of waste bin disposal in every household and urged residents to support public sector partnership (PSP) operators for proper waste management.

“Economic activities across the metropolis will thrive if all residents adhere to sanitation best practices,” he said.

He said significant resources and manpower have been deployed to ensure the campaign’s success.
Vincent Okwofadjeke, DSCTDA’s manager of administration and finance at Ogbogonogo Market, said maintaining a clean environment was a shared responsibility essential for preventing the spread of diseases.

He said, “The current clean-up exercise follows last year’s “Secured Clean and Green” campaign, reinforcing the need for a consistently clean environment to safeguard residents’ socio-economic well-being.

“Traders should remember that this market was previously shut down due to poor sanitary conditions.”
He urged them to clean their surroundings, properly dispose of their waste, and refrain from street trading.

“Many diseases spread through contaminated water and food due to poor sanitation practices such as open defecation, improper waste disposal, and lack of personal hygiene.

“Therefore, sanitation must become a daily practice, not just an activity reserved for Thursdays,” he added.
Isaac Nwosu, head of environment at DSCTDA, announced that the clean-up would extend to public spaces, including markets, to encourage sustainable sanitation habits among residents.

He emphasised that the agency’s advocacy efforts instilled voluntary and long-term compliance with proper waste management practices.

Sheriff Oborevwori

John Ijedie, manager of investment and business promotions, underscored the economic and health benefits of the campaign.
He said raising awareness about sanitation is crucial in preventing communicable diseases.

He urged residents to take ownership of their environment by maintaining cleanliness and reporting unsanitary behaviours, stressing that the government could not continually monitor every location.

The Ugoani of Okpanam, Michael Mbanefo, pledged his support in enforcing the sanitation campaign within the Okpanam Kingdom during a visit by the DSCTDA team.

Ekiti LG Chairman Urges Residents To Protect Electricity Transformers From Vandals

Ekiti LG chairman urges residents to protect electricity transformers from vandals. Mr Omojola warned that vandalised transformers could leave communities in darkness for months.

The Chairman of Ikole Local Government, Bayo Omojola, has urged residents to be security conscious and protect electricity transformers in their communities from vandalism.

Mr Omojola spoke during an interview on Sunday in Ikole-Ekiti.
He said that communities currently enjoying uninterrupted electricity supply were those whose transformers remained in good condition.

“It is important for every resident of Ikole-Ekiti and other communities under the council to take responsibility for protecting their transformers from vandals,” he said.

Mr Omojola warned that vandalised transformers could leave communities in darkness for months, as seen in other areas where residents had to wait for government intervention.

He stated, “We have heard of several communities where transformers were vandalised, leaving them without electricity for months until the state government stepped in. We do not want to fall victim to such incidents.

That is why I am urging traditional rulers, chiefs, and youths to be proactive by setting up security measures to protect these installations. Government and BEDC alone cannot secure the transformers for us. Residents must take responsibility to prevent unnecessary power outages.’’

Ekiti LG Chairman

Mr Omojola noted that the cost of a transformer and its cables was about ₦8 million, meaning any damage would have serious consequences for the affected communities.

He urged members of the landlords’ associations to take active steps in safeguarding transformers in their neighbourhoods.

He advised that any individual caught attempting to vandalise a transformer should be arrested and handed over to the police for prosecution.