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NGX Charges Inductee Brokers on Ethics, Continuous Learning

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NGX: Transactions maintain bearish trend with 0.0% loss

The Nigerian Exchange Limited (NGX) has encouraged its newly inducted brokers to continue to uphold the high standard of ethics in the capital market and embrace a culture of continuous learning to keep up with the fast pace of developments and innovation in the financial space.

At the induction ceremony for the 91 newly Authorised Dealing Clerks held at the Exchange on Thursday, the Chief Executive Officer, NGX, Temi Popoola, advised the inductees to be advocates of integrity and impeccable character, with the penchant to place the market first in their decision making.

He highlighted that the NGX had enforceable rules, he pointed out that the Exchange had signed a Memorandum of Understanding with the Economic and Financial Crimes Commission (EFCC) in the bid to implement its zero-tolerance policy on infractions.

Emphasising NGX’s technological drive, Popoola said, “Technology is increasingly going to drive our business operations and activities going forward. Over the years, The Exchange has demonstrated its readiness for the digital transformation as evinced by our seamless transition to virtual trading following the incursion of the COVID-19 pandemic.

“Our trading platform and real-time data service remains a game changer in the capital market. Through these platforms, we have improved market order flow, sustained increase in the number of trades, provided high availability and enabled direct market access and remote trading.”

He urged the inductees to embrace a culture of continuous learning and take advantage of NGX’s specialised learning platform, X-Academy to gain more knowledge and maximise opportunities to stay up to date on market developments.

The Doyen of the market, Rasheed Yusuf, congratulated the ADC’s, highlighting that their induction was coming at a time of significant volatility and uncertainty in global markets and the world’s economy.

“I will urge you all to be innovative, creative and ethical as the market is in need of your skills to increase its contribution to the economy. The Exchange and the capital market constitute a platform to turnaround the fortunes of the Nigerian economy and I encourage you to leverage every channel available to create impact,” Yusuf said.

Chairman, Governing Council, Association of Securities Dealing Houses of Nigeria (ASHON), Sam Onukwue, and President/Chairman, Governing Council, Chartered Institute of Stockbrokers (CIS), Oluwole Adeosun, both underscored the importance of keeping to the rules and regulations of the market to the new brokers and strive to make contributions to the development of the market.

NEWS

Kano Businessman’s Daughter Kidnapped After ₦8m Ransom Payment

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In a shocking incident on Sunday morning, unknown gunmen suspected to be kidnappers invaded the home of Alhaji Auwal, a prominent businessman, in Garo Town, Kabo Local Government Area of Kano State.

The gunmen, estimated to be around 10 in number, forced their way into the residence, breaking down a door to gain entry.

An anonymous source revealed that the attackers were heavily armed, with three carrying firearms and the rest wielding other weapons.

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They quickly gathered the entire family in one room, instilling fear and panic in the household.

According to the source, Alhaji Auwal pleaded with the assailants to spare his family and agreed to meet their demands.

The kidnappers, who were determined to extort money, received ₦8 million from the family.

Despite this payment, the gunmen took the businessman’s eldest daughter, Zainab, a secondary school graduate, before fleeing the scene.

The whereabouts of Zainab remain unknown, and as of now, the kidnappers have not contacted the family.

This abduction comes just 48 hours after the tragic kidnapping and subsequent murder of former Gombe State Permanent Secretary, Atiku Mu’azu, who was killed by gunmen after a ₦10 million ransom was paid.

The two incidents have left the residents of Kano in shock and fear, prompting calls for increased security measures in the area.

Attempts to reach the spokesperson for the Kano Police Command, SP Abdullahi Haruna, for comment were unsuccessful as his phone remained unreachable.

Authorities have yet to make any official statements regarding the investigation.

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International News

Colombia Blocks US Deportation Flights Over Migrant Treatment

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In a bold move, Colombian President Gustavo Petro declared on Sunday that he would not allow US deportation flights carrying Colombian migrants to access his country’s airspace.

The left-wing leader took to X (formerly Twitter) to express his strong stance, stating, “The United States cannot treat Colombian migrants as criminals. I forbid entry to our territory to US planes carrying Colombian migrants.”

Petro made it clear that such flights would only be accepted once Washington established a protocol to ensure the “dignified treatment” of deported migrants.

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The president later confirmed in a separate post that he had already turned back US military planes that were en route with Colombian migrants on board, although he did not provide further specifics on the matter.

While AFP sought confirmation from US authorities regarding the blockade of deportation flights, no immediate response was forthcoming.

Petro’s statements come just a day after Brazil’s government voiced similar outrage over the treatment of deported Brazilians.

Brazil condemned the US administration under President Donald Trump, citing instances where Brazilian migrants were deported while handcuffed on flights, describing it as a “flagrant disregard” for their basic rights.

In his remarks, Petro emphasized that he would be open to allowing civilian US flights to transport deported migrants as long as they were not subjected to treatment “like criminals,” signaling a broader call for humane treatment of migrants under international deportation policies.

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NEWS

Four Dead, Many Injured As Explosion Rocks Niger State Mining Site

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An explosion at a mining site in Sabon Pegi, Mashegun Local Government Area of Niger State, claimed the lives of four individuals and left several others injured on Sunday morning.

The blast occurred as miners resumed operations, sending shockwaves through the community.

While the exact cause of the explosion remains undetermined, local residents have pointed to the poor handling of explosive devices by mining companies as a possible factor.

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The incident has sparked concerns about safety practices within the mining sector.

Community sources confirmed the recovery of four bodies, but authorities fear the death toll could rise.

Investigations are ongoing to establish the cause of the blast and assess the full extent of the damage.

One resident, Aminu, described the chaos that followed the explosion. “The sound was so loud that many of us thought it came from the hydroelectricity dam nearby. People panicked and ran into the bush for safety,” he recounted.

Another community member highlighted the potential role of mining operations in the tragedy.

“Mining companies here frequently use explosives during their activities, and this seems like an operational issue, not something related to terrorism,” the resident said, dismissing concerns about a security threat in the area.

As of the time of reporting, neither the state government nor security agencies have released an official statement regarding the explosion.

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