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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.

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“Stop Spreading Fear” — Presidency Slams Nasboi Over Alleged Fake Terror Clip

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The Presidency has cautioned popular comedian and content creator, Nasboi, over a viral video he posted online, accusing him of spreading fear with what it described as a misleading terror-related clip.

The Special Assistant to President Bola Tinubu on Social Media, Dada Olusegun, raised the concern in a post on his X handle on Tuesday, saying the footage being circulated does not originate from Nigeria and was wrongly presented in a way that could cause public panic.

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He alleged that the video shared by Nasboi was originally taken from another online page that identified the armed men in the clip as terrorists operating in the Republic of Benin, not Nigeria.

According to him, sharing such content without proper context was irresponsible, especially given the sensitive security situation in the country.
He wrote: “You cannot continue to intentionally use your page to spread fear @iamnasboi for whatever reason you might think you have.

“The video you posted was clearly quoted from a page that says these are Beninese terrorists. This means the footage is from Benin Republic and has nothing to do with Nigeria.

“We have our challenges, but you using your wide reach to spread fear with a fake footage is the highest form of irresponsibility. You can do better!”

The presidential aide did not give further details on when the video first surfaced or whether any official verification was conducted on its origin.

Nasboi had earlier shared the clip with the caption “PRESIDENT @officialABAT,” showing armed men on motorcycles carrying out an attack in a rural setting.

The post sparked mixed reactions online, as users debated whether the footage was genuinely from Nigeria or another West African country.

Although similar videos have previously been linked to extremist groups operating in the Sahel region, there has been no independent confirmation that the viral clip originated from Nigeria.

 

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Why FG Scrapped 3-Month Pre-Retirement Leave for Civil Servants

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The Federal Government has abolished the practice of granting civil servants a mandatory three-month pre-retirement leave, saying the arrangement was based on a wrong interpretation of the Public Service Rules and had no legal backing.

The directive was issued in a circular by the Head of the Civil Service of the Federation, Didi Walson-Jack, and sent to ministries, departments and agencies (MDAs), including top government officials across the federal civil service.

According to the circular, what is commonly referred to as “pre-retirement leave” is not recognised in the Public Service Rules. Instead, it is meant to be a structured three-month notice period that some MDAs mistakenly converted into automatic leave.

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The government explained that this misinterpretation had led to many experienced officers leaving active duty earlier than required, creating avoidable gaps in manpower and affecting service delivery in some institutions.

“The so-called ‘mandatory three-month pre-retirement leave’ has no basis in the Public Service Rules,” the circular stated.

Under the correct rule, retiring officers are required to give three months’ notice before their retirement date. Within that period, they are expected to attend a one-month pre-retirement workshop or seminar, while the remaining time is used to process pension documentation and reconcile service records.

The Federal Government further clarified that officers remain in active service throughout the notice period and are still expected to carry out their official duties, except when attending approved training or granted leave under existing regulations.

“A retiring officer must give three months’ notice before their effective date of retirement. This is a notice requirement, not a leave entitlement,” the directive added.

The Head of Service directed all MDAs to stop the practice of sending officers on compulsory pre-retirement leave before their official retirement dates, insisting that such action is inconsistent with existing regulations.

She also instructed permanent secretaries, directors-general, and agency heads to ensure full compliance and proper dissemination of the corrected interpretation across the civil service.

Nigeria’s civil service retirement framework remains governed by the Public Service Rules and the Pension Reform Act, with officers retiring upon reaching 60 years of age or completing 35 years in service, whichever comes first.

The government said the reform is aimed at standardising procedures, improving efficiency, and ensuring that experienced civil servants continue contributing to government operations until their official exit date.

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Was It Arrest or Routine Review? DSS, Okey Ndibe Give Contradicting Accounts Over Lagos Airport Incident

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Confusion has trailed an encounter between Nigerian author and columnist Okey Ndibe and operatives of the Department of State Services (DSS) at the Murtala Muhammed International Airport, Lagos, with both sides offering conflicting explanations of what happened.

Ndibe confirmed that he was held for more than three hours by DSS operatives before being released. In a post shared on his Facebook page, he expressed appreciation to those who reached out after news of the incident broke.

RELATED NEWS: DSS grilled Okey Ndibe over 2013 watch-list – Source

“I am so grateful for the expressions of concern by many friends, acquaintances and others over my detention earlier today by the DSS at Murtala Muhammed International Airport,” Ndibe wrote.

He added that despite the unexpected encounter, he was treated respectfully by the officers involved.

“The two agents who interacted with me were quite courteous throughout the three-plus hours of my detention,” he said.
Ndibe further confirmed his release, assuring supporters of his wellbeing.

“I’d like to confirm that I’ve been released… I am fine and in excellent spirits. I treasure your messages and gestures of friendship,” he added.

However, the DSS has denied that the author was arrested or detained. In a statement issued by its spokesperson, the agency said its interaction with Ndibe was part of an ongoing review of its security watchlist system.

“The Department of State Services hereby clarifies that it did not arrest or detain Prof Okey Ndibe at Murtala Muhammed International Airport on June 1, 2026 or any other place on that date for that matter,” the statement said.

The agency explained that its current leadership is reviewing long-standing watchlist entries, some dating back to previous administrations, to ensure citizens are not subjected to unnecessary inconvenience.

According to the DSS, “Individuals previously placed on watchlists are routinely invited for interaction as part of a review process that could lead to the downgrading or removal of their watchlist status.”

 

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