NEWS
NGX Regulation Counsels Public, Private Sector on Climate Change
By Edozie Obasi-Eze
Given Nigeria’s ambitious climate goals to reduce greenhouse gas emissions by 47% by 2030, conditional on international support, the Chief Executive Officer of Nigerian Exchange Regulation Limited, Ms. Tinuade Awe, has urged all critical stakeholders to prioritize implementing initiatives that positively benefit the environment and combat climate change.
Awe stated this during the Financial Reporting Council of Nigeria (FRCN) Stakeholder Engagement Session on Mainstreaming Nigeria’s Collaborative Action on Climate-Related Risks and Disclosures on Thursday, 26 May 2022.
Speaking at the event organized by FRCN in collaboration with Growing Businesses Foundation (GBF), Afrikairos Foundation, and International Financial Reporting Standards (IFRS) Foundation, Awe highlighted the increasing global trend in climate-related disclosure and regulations and encouraged companies to incorporate Environmental, Social and Governance (ESG) factors into their business operations, activities and reporting processes as a critical step to ensuring that they are positioned to align with the rapidly evolving regulations and guidance on sustainability and climate disclosure.
She explained that “In Nigeria, the Federal Government has localized the global call by committing to achieving a net-zero economy by 2060 and signing the Climate Change Act 2021 into law. This policy is consistent with Nigeria’s vision to be a low-carbon, climate-resilient, high growth circular economy that reduces its current level of emissions by 50 per cent by 2050, as captured in the 2050 Long-Term vision for the Nigerian economy which was issued by the Department of Climate Change, Federal Ministry of Environment in 2021.”
On the role that NGX Regulation has played to promote sustainability reporting, Awe said, “At NGX Regulation, we are committed to fostering the adoption of sustainable business practices and disclosure amongst companies listed on Nigerian Exchange Limited.
This is evidenced by our leading role in the development and issuance of the NGX Sustainability Disclosure Guidelines in 2019 which has provided support for companies seeking guidance on sustainability reporting practices.
NGX Regulation also played a leading role in developing guidance for the capital market on the issuance of green bonds in 2016, and championed efforts along with government and industry stakeholders that culminated in the issuance of the maiden N10.69 billion (c. $25.8 million) 13.48 percent 5-year green bond in 2017”.
Speaking on her organization’s plans to promote climate disclosure, She noted that NGX Regulation is well-positioned to lead the capital market to address climate change through effective climate disclosure, saying “we launched the Climate Awareness Initiative in collaboration with Nigerian Exchange Limited in April 2022 and hosted a two-part market-wide training on climate disclosure facilitated by experts from International Finance Corporation (IFC), Sustainable Stock Exchanges (SSE) Initiative and Carbon Disclosure Programme (CDP).
“Our unwavering commitment to address climate change has also inspired us to commence the development of the NGX Climate Disclosure Guidelines, a dedicated set of guidelines for listed companies on global best practice in climate disclosure in line with the recommendations of the Task Force for Climate-Related Financial Disclosure (TCFD) framework leveraging the Action Plan on how stock exchanges can integrate the TCFD recommendations issued by the Sustainable Stock Exchanges Initiative (SSEI) in 2021. We plan to publish our zero drafts in a few months after which we will initiate a public consultation for feedback”.
NEWS
I Previously Called For Simon Ekpa To Be Shot – APC Chieftain
A prominent member of the All Progressives Congress (APC), Jesutega Onokpasa, has expressed strong support for the recent arrest of Simon Ekpa, the self-styled Prime Minister of the Biafran Republic Government in Exile.
Speaking during an interview on Arise Television on Friday, Onokpasa, a lawyer, described Ekpa as a dangerous figure whose actions warranted severe measures, including his elimination.
READ ALSO: Edo State Governor Sets Up Committee To Recover Missing Gov’t Vehicles
Simon Ekpa was apprehended in Finland earlier this week by the country’s Central Criminal Police alongside three other individuals.
The arrests were part of an investigation into suspected terrorist activities.
Finnish authorities confirmed the development in a statement, noting that Ekpa and others were being questioned for their alleged roles in terrorism-related crimes.
Onokpasa, who has been a vocal critic of the separatist leader, revealed that he had previously called for Ekpa to be neutralized due to his alleged involvement in violent activities in Nigeria’s Southeast.
“The case of Simon Ekpa—his arrest is long overdue,” Onokpasa said during the interview. “In fact, I had actually encouraged that he should be shot because he was killing his fellow Igbos. If the person is an enemy combatant, he is liable to be shot. I know the law. This is just intelligence stuff.”
The APC chieftain also described Ekpa as “a crazy, poorly educated fellow,” adding that his actions have led to significant bloodshed among Igbos in the region.
Onokpasa emphasized his unwavering support for Ekpa’s arrest, which he believes is a necessary step in addressing the violence linked to separatist agitation. “In that case, I am in full support of his arrest,” he added.
Ekpa has been a polarizing figure, often accused of fueling unrest in Nigeria’s Southeast through his advocacy for Biafran independence.
His arrest is being hailed by some as a crucial step toward restoring peace in the region.
NEWS
Senator Ifeanyi Ubah Laid To Rest In Nnewi Amidst Tight Security
On Friday, November 22, 2024, the late Senator Ifeanyi Ubah was laid to rest in his hometown of Nnewi, Anambra State.
The funeral, held at his residence in Umuanuka, Otolo Nnewi, was attended by a multitude of mourners, including political figures, business associates, and community members, all paying their final respects to the esteemed businessman and politician.
The burial proceedings commenced with a funeral mass at 10:00 a.m., followed by condolence visits and other funeral activities. The ceremonies are scheduled to continue through the weekend, culminating in a Thanksgiving Mass and Outing Service on Sunday, November 24, at St. Peter Claver Catholic Church in Otolo Nnewi.
READ MORE: JUST IN: Anambra Senator, Ubah, Dies In London
In light of security concerns, Anambra State Governor, Prof. Chukwuma Soludo, ordered the closure of schools in Nnewi for a week. This decision followed threats from separatist elements who vowed to attack those attending the burial. A circular from the state Ministry of Education directed school principals to inform parents and ensure students remained at home during this period.
The Anambra State Police Command addressed an incident that occurred on Wednesday night, clarifying that it was not related to the burial. According to the Command’s Public Relations Officer, SP Tochukwu Ikenga, the incident involved security operatives mistakenly engaging police personnel, leading to an exchange of gunfire. The situation has since been brought under control.
Senator Ifeanyi Ubah, who represented Anambra South Senatorial District, passed away in London in July 2024 at the age of 52. His death was met with an outpouring of grief from across the nation, with many acknowledging his significant contributions to the development of Anambra State and Nigeria.
As the community of Nnewi and the nation at large bid farewell to Senator Ubah, his legacy as a philanthropist, businessman, and public servant continues to resonate, leaving an indelible mark on those he served and inspired.
NEWS
Simon Ekpa’s Arrest Will Restore Peace In South East, Says Enugu Gov’t
The Enugu State Government has commended the Republic of Finland for the arrest of Simon Ekpa, a Finland-based leader of the proscribed separatist group, Autopilots.
Ekpa has been accused of orchestrating violence and chaos in Nigeria’s South East region.
In a statement issued on Friday by the Secretary to the State Government, Prof. Chidiebere Onyia, the government described Ekpa as a “common criminal, con man, and terrorist” who has exploited the Igbo people while claiming to represent their interests.
RELATED NEWS: Finnish Police Arrest Simon Ekpa Over Terror-Related Allegations
“The Enugu State Government welcomes the arrest of the Finland-based terrorist, Simon Ekpa,” the statement read.
“His arrest and trial will no doubt go a long way in strengthening peace, security, and stability in all parts of the South East.”
The state government accused Ekpa of sponsoring violent activities that have resulted in the loss of lives, destruction of property, and disruption of the region’s economic activities.
It stated that Ekpa’s actions were driven by personal greed and not genuine concern for the Igbo people.
Onyia said, “Ekpa is a murderer and fraudster who delights in killing his people and living large off their misery.
“He thrives on manipulating, exploiting, and extorting the people on the pretext of fighting for their interest and for the restoration of Biafra.”
The government emphasized its readiness to provide evidence of Ekpa’s alleged crimes to support his prosecution, whether in Finland or Nigeria.
“This arrest is in line with the demand of the Governor Peter Mbah Administration, which has repeatedly made it known that Ekpa is a megalomaniac, common criminal, murderer, and fraudster who takes joy in feeding fat on the manipulated emotions of Ndigbo and inflicting misery on the South East region,” the statement added.
The government further criticized Ekpa for fostering a climate of fear and insecurity that has harmed the entrepreneurial spirit and economic growth of the Igbo people.
“Ekpa has for long, and unfortunately from Finland, made a living by creating a siege climate and mentality in the South East, destroying lives, property, and the Igbo trademark of entrepreneurship and hard work,” Onyia said.
The Enugu State Government expressed optimism that Ekpa’s arrest would mark a turning point in the quest for peace and stability in the South East, urging residents to remain vigilant and supportive of ongoing efforts to restore normalcy in the region.