NEWS
Gov Eno Cracks Down On Kiosk Reselling Above ₦100,000
Akwa Ibom State Governor, Umo Eno, has called on residents to report individuals reselling kiosks at the Christmas Village for prices above the government-approved rate of ₦100,000.
Speaking on Wednesday during the unveiling of new waste management equipment in Itam, Itu Local Government Area, the governor condemned the sharp practices and vowed to ensure fairness in the sales process.
“I have credible intelligence that some people went and bought shops at the Christmas Village and are now reselling them for as much as ₦300,000. If anybody tells you to pay ₦300,000, please report the person immediately,” Eno said.
READ ALSO: Court Authorises Chinese Investors To Seize $25m From Nigeria
The governor directed kiosk buyers to pay only the official price of ₦100,000 and warned sellers against profiteering.
“Anybody who is selling the shop, just take the shop, pay the person ₦100,000. If they ask for a balance, tell them to meet Umo Eno,” he added.
To address the issue, Eno instructed the Commissioner for Culture and Tourism, Charles Udoh, to investigate and act swiftly.
Governor Eno also issued a stern warning against fetish performances during the Christmas season.
He directed local government leaders to ensure that celebrations reflect Akwa Ibom’s cultural values and traditions.
“When you are packaging, local government leaders and stakeholders must get involved. We want to see our foods and a decent display of our values. We will not tolerate diabolical masquerades or promote rituals during the period,” the governor said.
In a move to improve sanitation across the state, Governor Eno announced plans to reward the cleanest local government areas while warning against indiscriminate waste disposal.
He revealed that a new law would soon be enacted to prosecute offenders of poor sanitation practices.
“The Chairmen of local governments must collaborate closely with the Akwa Ibom State Waste Management Agency to ensure efficient service delivery,” Eno said.
The event also marked the commissioning of newly acquired waste management equipment to enhance cleanliness and environmental protection efforts.
The Chairman of the Akwa Ibom State Environmental Protection and Management Agency, Prince Ikim, commended the governor’s commitment to equipping the agency for effective service delivery.
“With these tools, there will be no room for excuses. We are ready to hit the ground running,” Ikim said.
Ubong Nkut, Chairman of Itu Local Government Area, expressed gratitude for the governor’s fulfillment of campaign promises, including the construction of the Nnung Ukot Itam–Ikot Ekwere road project.
The National Coordinator of Clean Up Nigeria Limited, Baba Owo, also praised the governor’s environmental initiatives, describing them as critical to sustainability and public health in the state.
The much awaited Africa’s largest Initial Public Offering by the Dangote Petroleum Refinery and Petrochemicals (DPRP) has been formally flagged off on the Nigerian Exchange (NGX).
President and Chief Executive Officer, Dangote Industries Limited (DIL), Aliko Dangote, marked the commencement of the offer by ringing the opening bell at the NGX trading floor in Lagos on Monday.
The transaction marks a significant milestone for Nigeria’s capital market, as the DPRP becomes the first refinery in the Nigerian Exchange’s 66-year history to open its shares to public subscription.
READ ALSO: Dangote Refinery Opens Landmark IPO Today
The offer comprises 4.1 billion new ordinary shares priced at N525 per share, allowing investors to acquire an equity stake in Africa’s largest refinery.
Retail and institutional investors, as well as eligible investors across Africa, can participate in the public offer.
Investors can subscribe for a minimum of 10 shares, requiring an investment of N5,250 at the offer price.
The offer opened on Monday, September 14, 2026, and is scheduled to close on October 13, 2026, subject to the terms and conditions contained in the offer prospectus.
At the ceremony, Dangote highlighted that the public offer was part of a broader effort to expand public participation in owning his companies.
“We will lease every company that we operate,” he said.
The launch attracted prominent dignitaries, including Lagos State Governor Babajide Sanwo-Olu, members of the Dangote family and captains of industry.
The Securities and Exchange Commission (SEC) has warned prospective investors against fraudsters, fake platforms and unauthorised individuals seeking to take advantage of the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO).
The Commission issued the warning in a public notice dated Monday, September 14, 2026, following its approval for the IPO by Dangote Petroleum Refinery and Petrochemicals FZE to open to the public.
The SEC urged investors to exercise caution and ensure that all applications and payments relating to the IPO are made only through the officially designated and approved receiving agents, subscription channels and platforms.
ALSO READ: Dangote Calls Refinery IPO ‘People’s IPO’ as N2.15tn Offer Opens
The Commission advised prospective investors to obtain information about the IPO only from the SEC’s official channels, the issuer’s official channels and other official channels established and approved for the offer.
It also urged investors to verify the authenticity of any website, platform or link before providing personal or financial information.
According to the SEC, investors should follow only the officially announced subscription or application process and IPO timetable and should “Avoid transferring funds to any person or entity claiming to receive applications/subscriptions outside the approved channels.”
The Commission further advised investors to verify that their chosen registered Capital Market Operator’s channels or platforms for the offer are duly authorised and approved.
The SEC also warned investors to “Avoid responding to unsolicited calls, WhatsApp messages, social media advertisements, emails or other channels/platforms that offer or guarantee allotments or preferential allocation.”
The regulator urged prospective subscribers to carefully read the approved Prospectus and understand the terms, conditions and risks associated with the investment before making any subscription.
SEC warns against fake IPO agents
The Commission stressed that the existence of an individual, company, digital platform or social media account does not, by itself, constitute approval or authorisation to receive applications or funds from investors in respect of the offer.
The SEC therefore advised prospective investors to contact SEC-registered stockbrokers, banks or registered Investment advisers for guidance before subscribing.
The Commission also urged the public to “VERIFY” the registration status of companies, entities, platforms or individuals offering investment opportunities before entering into any transaction with them.
Investors can verify the registration status of operators through the SEC’s dedicated portal for registered fintech operators or through the Commission’s Capital Market Operators platform.
The warning comes as the Dangote Petroleum Refinery and Petrochemicals IPO officially opens on Monday, September 14, 2026, following the Commission’s approval.
The Commission listed its contact details as +2342094621168-9 and [email protected], while its WhatsApp contact is 0916 772 3240.
The SEC urged investors to remain vigilant and rely only on verified and authorised channels throughout the IPO process.
Investor demand for the Dangote Petroleum Refinery and Petrochemicals initial public offering (IPO) has reached a historic level, with subscription activity surging across digital investment channels.
Data released by the Nigerian Exchange (NGX) on its official X handle on Monday showed that total transaction volume had surpassed 402,634, pushing the total subscription value to ₦1,476,171,994,112, approximately ₦1.476 trillion.
The figures, displayed on the #NGXInvest command centre dashboard, highlight the strong appetite among investors for the landmark offering.
More details shortly.
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