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SEC DG: Nigeria’s Delisting from FATF Will Boost Investor Confidence

SEC DG: Nigeria’s Delisting from FATF Will Boost Investor Confidence

Kayode Tokede

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has hailed Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing it as a clear reflection of the country’s renewed policy direction and commitment to transparency.

FATF last week announced the delisting of Nigeria from its grey list of countries with deficiencies in anti-money laundering and counter-terrorism financing frameworks.

Speaking on a programme monitored on national television, he said the development would significantly enhance investor confidence and attract more foreign investments.

“It means so much for us in the capital market; it means so much for us in the financial system. It brings about something that we have been craving for – investor confidence

“The release of Nigeria from the FATF grey list means that investor confidence would be boosted. Delisting from that grey list sends a very strong signal to investors and trading partners that Nigeria has made significant progress in strengthening its anti-money laundering and countering of financing of terrorism regulations,” Agama said.

He described the delisting as a “welcome call to new investments,” saying it would further strengthen productivity and growth in the Nigerian economy.

After implementing a 19-point action plan, the FATF removed Nigeria from the list more than two years later, acknowledging the country’s progress in tightening its AML/CFT framework.

Agama described the development as a major milestone in Nigeria’s journey towards economic reform, institutional integrity, and global credibility and commended Mrs. Hafsat Abubakar Bakari, Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit, and her team for their diligence in implementing the country’s action plan.

According to him, “The NFIU was in the forefront of this initiative and we commend their commitment, which has earned Nigeria global recognition for its strengthened institutional framework to tackle financial crimes.”

He also praised efforts of the National Security Adviser, the Secretary to the Government of the Federation, the Ministers of Aviation, Budget and Economic Planning, Defense, Foreign Affairs, Solid Minerals, and State for Finance, as well as the leadership of the National Assembly and the Judiciary.

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Kayode Tokede The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has hailed Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing it

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Zainab Bagudu Harps on Early Release of Funds, Prudent Use for Cancer Treatment

Zainab Bagudu Harps on Early Release of Funds, Prudent Use for Cancer Treatment

Kuni Tyessi in Abuja

Former First Lady of Kebbi State and Founder of Medicaid Cancer Foundation, Dr. Zainab Bagudu has urged State Governors, State House Assembly members and development partners to be prudent in the use of funds meant for cancer treatment.

She said with early release of funds meant for the fight against as well as its treatment, this gesture would achieve zero tolerance of the deadliest disease called cancer in the entire African continent.

Bagudu, who made the call yesterday, during the 11th Medicaid Cancer Awareness Walk in Abuja, to raise awareness about the disease, said cancer survivors have a place as research has proven that many are responding to treatments.

At the 11th edition of the walk themed, “One walk, one fight, one mission,” Bagudu reiterated that, from early detection, many are improving, as well as creating more confidence in the fact that cancer is not only curable, but can also be prevented.

She commended the wife of the President, Senator Oluremi Tinubu, for maintaining and supporting the initiative and its tradition of creating awareness about cancer, while noting that “all that is needed most in cancer care is awareness.”

According to her, “Thousands of people from different places converge here to create awareness, and also to show the world that survivors of cancer have a place.

“Here we have a lot of them improving and creating more confidence in us that cancer is not only curable, but it can also be prevented.

“I want to also use this opportunity to call the government, State, National Assembly, and development partners to use the released funds and support these gestures to achieve zero tolerance of the deadliest disease called cancer in the entire Africa.”

In her speech, the Minister of Women Affairs, Iman Suleiman, said this was proof that when Nigerians, particularly women, come together, there’s nothing that can’t be achieved, adding that cancer was beatable.

“We have to continue to work together to fight against things that, you know, destroy us. We have enough fights as women, as men, and as Nigerians.

“Trust me, it takes a collective effort for us to be able to achieve a lot for the health sector. Everyone has a role to play, and that’s why we’re all out here today. This is a show of solidarity, and when we walk together, we’re going to eliminate cancer from Nigeria,” he added.

At the walk, Minister of Budget and National Planning, Atiku Bagudu said Nigerians deserve a chance at a life free of cancer and need to have more opportunities and resources for earlier diagnoses.

According to him, “Money that you can afford and spare can change somebody’s life. Not even money, sometimes even the word that you can speak to somebody and encourage him or her.

“So we are indeed very, very pleased and proud that this thing is happening.”

Also, the wife of the speaker of the House of Representatives, Fatima Abbas, while commending the convener, said the annual walk was a testament to the fact that no one must fight cancer alone with support such as from the Foundation.

“You have mobilised communities, raised awareness, and promoted early detection and prevention. Your work is a beacon of hope for those living with cancer and we salute you for your unwavering dedication. “We talk to show our support, for solidarity and commitment to this cause, we fight to ensure that no one faces cancer alone, that everyone has access to quality care and that we find a cure for this disease,” he added.

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Kuni Tyessi in Abuja Former First Lady of Kebbi State and Founder of Medicaid Cancer Foundation, Dr. Zainab Bagudu has urged State Governors, State House Assembly members and development partners

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Tunji Bello Hails Court Rulings Upholding Consumer Rights

Tunji Bello Hails Court Rulings Upholding Consumer Rights

James Emejo in Abuja

The Executive Vice Chairman/Chief Executive, Federal Competition and Consumer Protection Commission (FCCPC), Mr. Tunji Bello, yesterday commended the recent court rulings that upheld consumer rights in the country.

Bello, specifically referenced the Lagos High Court’s award of N5 million in damages against Multichoice Nigeria Limited and the Enugu High Court’s decision declaring Peace Mass Transit’s “no refund” policy unlawful.

He hailed the courts for ensuring fair outcomes that strengthen consumer confidence and accountability in the marketplace, noting that the judgments underscored the strength of the Federal Competition and Consumer Protection Act (FCCPA), 2018, which empowers consumers to seek redress and compels service providers to maintain lawful standards of fair service delivery.

The FCCPC boss also praised the consumers who pursued justice through lawful channels rather than resorting to self-help, adding that the law provides several mechanisms for consumers to express grievances, and that these decisions affirm the judiciary’s commitment to upholding consumer rights.

Between March and August 2025, the commission facilitated recoveries exceeding ₦10 billion for consumers across 30 sectors—demonstrating the growing effectiveness of Nigeria’s consumer protection framework.

Bello, stressed that consistent judicial enforcement complements the commission’s regulatory efforts and reinforces the message that violations of consumer rights carry real consequences.

In a statement issued by Director, Corporate Affairs, FCCPC, Ondaje Ijagwu, he urged consumers to continue reporting unfair business practices through the FCCPC complaint portal, via email, or at any of the commission’s offices nationwide.

The statement pointed out that, “In one of the cases, the Lagos High Court, presided over by Justice R. O. Olukolu, awarded ₦5 million in general damages to a DStv subscriber, Mr. Ben Onuora, for the wrongful disconnection of his active subscription. The Court found that Multichoice acted unlawfully by cutting off service despite verified payment, thereby causing inconvenience to the claimant and his family.

“It ordered immediate reconnection and an extension to cover the period of disconnection, citing Sections 130, 136, and 142–145 of the FCCPA (2018), which guarantee consumers’ rights to quality service and hold suppliers liable for interrupted or defective delivery.”

The statement further stated, “In the second case, the Enugu High Court, presided over by Justice C. O. Ajah, ruled that Peace Mass Transit’s “no refund after payment” policy was illegal and void under Sections 120, 104, and 129(1) of the FCCPA (2018). The company was ordered to pay ₦500,000 in damages to a passenger, Mr. Tochukwu Odo, whose fare was withheld after an uncompleted trip. The Court held that service providers must refund consumers when a service is not rendered, and that policies denying refunds constitute a breach of statutory consumer rights.

“The Federal Competition and Consumer Protection Commission (FCCPC) is Nigeria’s primary agency responsible for consumer protection and competition regulation under the Federal Competition and Consumer Protection Act, 2018. The Commission promotes fair markets, safeguards consumer rights, and ensures accountability across all sectors of the economy.”

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James Emejo in Abuja The Executive Vice Chairman/Chief Executive, Federal Competition and Consumer Protection Commission (FCCPC), Mr. Tunji Bello, yesterday commended the recent court rulings that upheld consumer rights in