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Nigeria News (Standard)

SEC Bans Lagos Brokers from Promoting Dangote Refinery IPO over Unauthorised Offers

Regulator warns public as no official Dangote IPO application filed; capital market operators under scrutiny for violations

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4 months ago

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Regulator warns public as no official Dangote IPO application filed; capital market operators under scrutiny for violations

The Securities and Exchange Commission (SEC) in Lagos has banned all registered brokers and capital market operators from marketing or promoting any initial public offering (IPO) by Dangote Petroleum Refinery & Petrochemicals, following reports of unauthorised advertisements circulating online. The directive was issued on Monday, after the commission observed widespread social media messages and digital banners soliciting investors for a supposed Dangote refinery securities offer.

According to a public notice released by the SEC, some capital market operators have been actively seeking advance subscriptions and inviting members of the public to create accounts, pre-fund, or secure guaranteed allocations in connection with a purported IPO that has not been presented to or approved by the commission. The regulator made it clear that “no application for the registration of an IPO or public offer of shares of the Refinery has been filed with or approved by the Commission.”

The SEC expressed concern that these pre-marketing activities could mislead investors, distort expectations in the capital market, and create information asymmetry. The commission stated that such campaigns amount to market manipulation and constitute “serious violation of the Investments and Securities Act 2007 and SEC Rules and Regulations.”

In its statement, the commission warned that any capital market operator found engaging in these unauthorised offers would face severe regulatory actions. The SEC further cautioned investors against responding to invitations related to unapproved securities offerings, urging members of the public to verify all investment opportunities with official sources before making financial commitments.

The development comes at a time when investor confidence remains sensitive due to recent volatility in Nigeria’s stock market. Market observers say strict enforcement by regulators like SEC is crucial to maintain transparency and integrity within the capital markets. As at press time, there was no immediate response from Dangote Petroleum Refinery & Petrochemicals regarding plans for any future IPO.

Source: https://guardian.ng/business-services/sec-bans-brokers-from-marketing-dangote-refinerys-ipo/

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Nigeria News (Standard)

NSCIA Expands National Executive Council to Strengthen Muslim Representation Nationwide

Islamic council increases leadership body size, aims for broader inclusion of stakeholders across Nigeria’s six geopolitical zones

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3 weeks ago

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October 5, 2026

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Islamic council increases leadership body size, aims for broader inclusion of stakeholders across Nigeria’s six geopolitical zones

The Nigerian Supreme Council for Islamic Affairs (NSCIA) has announced the expansion of its National Executive Council, a move aimed at deepening representation and strengthening the council’s capacity to address Muslim affairs across Nigeria. The development was made public on Monday, 5 October 2026, following a meeting of top council officials in Abuja.

According to the statement released after the meeting, the NSCIA leadership resolved to increase the number of seats on its executive body. The council said this adjustment will allow for greater input from Muslim leaders and scholars from all six geopolitical zones, reflecting the diverse interests and challenges faced by Nigeria’s Muslim community.

The decision comes at a time when many stakeholders in the Islamic community have called for more inclusive governance structures within faith-based organisations. The council noted that as Nigeria’s Muslim population continues to grow and diversify, it is critical that leadership bodies remain responsive to changing realities. The expanded executive is expected to facilitate improved consultation and coordination on religious matters affecting education, social welfare, and interfaith relations.

In its official statement, the NSCIA emphasised that “the expansion will enhance collaboration among stakeholders and ensure that voices from every region are properly represented.” While no specific figures were disclosed regarding the number of new seats or names of new appointees, the council assured members that transparency and merit would guide all selections. Attempts to reach opposition or dissenting voices within the council were unsuccessful as at press time.

The NSCIA said it will release a full list of new executive council members following its next general assembly. Observers say this move could influence policy directions within Nigeria’s wider religious landscape over the coming months.

Source: https://www.premiumtimesng.com/news/more-news/914524-nscia-expands-its-national-executive-council.html

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Nigeria News (Standard)

Lagos Tenant Discovers Landlord’s Father Buried Beneath Living Room After Over a Year

Landlord’s family exhumes remains in Surulere flat, pledges to repair sitting room after tenant expresses shock

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3 weeks ago

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October 5, 2026

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Landlord’s family exhumes remains in Surulere flat, pledges to repair sitting room after tenant expresses shock

A Lagos tenant, identified as Mr Bachelor, has revealed he lived for more than a year in a Surulere apartment without knowing his landlord’s late father was buried beneath the living room floor. The discovery was made on September 20, 2026, when members of the landlord’s family visited the property and informed the tenant of their intention to exhume the remains.

According to Mr Bachelor, who shared details of the incident on X (formerly Twitter), he was in his apartment when the landlord’s relatives arrived and disclosed that their late brother—who is also the landlord’s father—had been buried in the middle of his sitting room. “He was buried right in my living room, and I was not aware until they came around today,” he stated.

The family explained that they planned to move the body to another location they had prepared and assured Mr Bachelor that necessary repairs would be made to his sitting room after the exhumation. The tenant noted that he was the first occupant of the newly built house and had spent over a year there before learning about the burial.

The incident has raised fresh concerns among Lagos residents about transparency from landlords regarding property histories. Some social media users responding to Mr Bachelor’s post urged prospective tenants across Nigeria to conduct due diligence before moving into rental properties. Others called for clearer regulations around residential burials and disclosure by property owners.

As at press time, neither local authorities nor tenants’ rights groups have issued official statements on the matter. The landlord’s family has not provided additional comments beyond assurances of repairs. The situation highlights ongoing gaps in property regulation and tenant protection in Lagos State.

Source: https://www.pulse.ng/story/man-discovers-corpse-buried-under-living-room-2026100506463406930

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Nigeria News (Standard)

INEC to Address Nigerians Nationwide as 2027 Election Countdown Reaches 100 Days

Electoral commission prepares public statement amid growing anticipation for next general polls across all states

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3 weeks ago

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October 5, 2026

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Electoral commission prepares public statement amid growing anticipation for next general polls across all states

The Independent National Electoral Commission (INEC) has announced plans to address Nigerians nationwide as the countdown to the 2027 general elections hits the 100-day mark. The development, expected to take place across all states, comes as political parties and voters begin preparations for one of the country’s most significant democratic exercises.

According to information from INEC headquarters in Abuja, the commission will issue a formal statement to outline its readiness and call on citizens to participate actively in the electoral process. This move is seen as part of efforts to assure stakeholders of INEC’s commitment to credible and transparent polls, following widespread debates over electoral integrity in recent cycles.

The announcement is particularly significant given Nigeria’s recent history of tightly contested elections, with issues such as voter turnout, technological deployment, and security logistics taking centre stage. Many Nigerians, especially young voters, have expressed concerns about the credibility of past elections and are watching closely for signals of improvement in 2027.

While details of INEC’s planned address remain under wraps, observers expect the commission’s leadership to emphasise the importance of voter registration, collection of Permanent Voter Cards (PVCs), and adherence to election guidelines. Political analysts note that early communication from INEC could help build public confidence and encourage broader participation ahead of the polls.

With just over three months before Nigerians return to the ballot box, all eyes are on INEC’s next steps. The commission is likely to face scrutiny from both ruling and opposition parties over its preparations. As at Monday, October 5th, no official response has been issued by major political parties regarding INEC’s planned address.

Source: https://www.premiumtimesng.com/news/top-news/914520-2027-inec-to-address-nigerians-as-election-countdown-hits-100-days.html

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