SEC Revokes Kensington Agro’s Licence, Warns Against Trading With Firm

SEC revokes Kensington Agro’s licence, warns against trading with firm. The Securities and Exchange Commission (SEC) says it has revoked the registration of Kensington Agro Trading Limited as a capital market operator.

The revocation takes “immediate effect”, the commission said in a public notice on Saturday.

However, the regulator did not disclose details on the circumstances leading to the revocation.

The SEC said the company was registered to operate as a commodity broker/dealer and collateral manager in the Nigerian capital market.

“The Securities and Exchange Commission (‘the Commission’) hereby notifies the general public of the revocation of the registration of Kensington Agro Trading Limited as a capital market operator (Commodity Broker/Dealer and Collateral Manager) with immediate effect,” the notice reads.

The SEC said the decision was taken pursuant to its powers under section 61(6) of the Investments and Securities Act (ISA) 2025 and Rule 34(1) of the SEC Rules and Regulations 2013, as amended.

According to the agency, the revocation means the firm is no longer authorised to carry out capital market activities in the country.

Exchange Commission

The SEC advised commodity exchanges, investors, commodity traders, and other capital market stakeholders to discontinue all capital market-related dealings with the company with immediate effect.

The latest regulatory action comes a week after the organisation suspended trading in the shares of Zichis Agro-Allied Industries Plc.

The move follows what the NGX described as “extraordinary price movements” in the company’s stock.

Unknown Gunmen Storm Kwara Community, Loot Shops

Unknown gunmen storm Kwara community, loot shops. The gunmen came on motorcycles.

Gunmen, on Saturday, stormed Gada Oli, a village not far from Woro in Kaiama Local Government Area of Kwara State, throwing residents into panic.

Residents, who confirmed the development to Peoples Gazette on Sunday, said the attackers stormed the village around 8 p.m. on Saturday, shooting sporadically and causing residents to flee for safety.

They added that the terrorists came on motorcycles, broke into food and phone shops, and carted away valuables.

“They came around 8 in the evening and started shooting sporadically to scare people away,” one of the residents said. “They didn’t kill anybody but they broke into shops where they stole phones, foodstuffs and other valuables.”

Police spokesperson SP Adetoun Ejire-Adeyemi did not immediately respond to a request for comment on the matter.

Bandits

The latest development came weeks after armed jihadists attacked Woro and Nuku communities in Kaiama LGA of the state, killing over 200 residents and kidnapping several others.

The incident, which drew local and international attention, marked the deadliest attack in the state, fueling concerns over the urgent need to ensure the safety of lives and property across the country.

Last week, scores of residents took to the streets to protest the killings and kidnappings, especially in the northern axis of the state, accusing Governor Abdulrahman Abdulrazaq’s government of negligence.

Meanwhile, the Chief of Defence Staff, Olufemi Oluyede, recently launched the Joint Task Force Operation Savannah Shield to combat insecurity in Kwara and parts of Niger State.

Tax Dividends: President Tinubu Flags Off Key Road Projects To Unlock Economic Growth In Niger, Rivers

Tax Dividends: President Tinubu flags off key road projects to unlock economic growth in Niger, Rivers. President Bola Ahmed Tinubu has approved the immediate reconstruction of key roads in Niger State and Rivers State to enhance transportation, connectivity, trade, and overall development.

In a statement obtained by The Guardian on Friday, Senior Special Assistant to the Minister of Works (Media), Francis Nwaze, reported that the Minister of Works, David Umahi, listed the roads slated for reconstruction in Niger State, namely: Mokwa–Bida Road (120 km), Mokwa–Makeri Road (63 km), and Bida–Labata Road (123.5 km)

Additionally, President Tinubu approved the extension of the Bodo–Bonny Road in Rivers Stateto connect with the East–West Road.

“The project will be executed as a dual carriageway with concrete pavement and equipped with solar-powered street lighting. It will be delivered through a competitive bidding process,” Umahi said.

Road

He added that the three roads in Niger State, totalling 306.5 km, will be reconstructed using reinforced concrete pavement to ensure durability and long-term value.

Umahi expressed gratitude to President Tinubu for the strategic approvals, noting that the projects lie within critical national economic corridors and will significantly boost connectivity, trade, and socio-economic development.

The Minister also congratulated the governors and people of Niger and Rivers States, as well as all Nigerians who stand to benefit from the projects.

He urged citizens to continue supporting and praying for the President as the administration focuses on delivering the dividends of democracy.