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Eddie Howe Set To Leave Newcastle, Jaissle Lined Up As Replacement

Ayomitunde Adeyemi
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Eddie Howe Set To Leave Newcastle, Jaissle Lined Up As Replacement

Eddie Howe is leaving Newcastle United with immediate effect, bringing an end to his near five-year spell at St James’ Park.

Pressure had been building on the 48-year-old after Newcastle finished 12th in the Premier League last season, losing 17 of their 38 matches. His last game in charge was a heavy 4-1 pre-season friendly defeat to Bristol City on Wednesday.

Al-Ahli boss Matthias Jaissle is the frontrunner to take over. Howe arrived at Newcastle in November 2021, just a month after the Saudi Public Investment Fund took control of the club.

Sources suggest Howe was somewhat taken aback by the club’s transfer dealings this summer, even though he understood player sales were necessary. He had initially committed to staying on despite the expected departures, but his stance shifted as the transfer window progressed. As recently as March, chief executive David Hopkinson had said there were no discussions underway about changing manager.

Newcastle spent around £240m on new signings last year, but Howe was reportedly frustrated by Alexander Isak’s move to Liverpool, calling the loss “ever-challenging” back in January and repeatedly pressing for fresh recruitment in press conferences since. This summer has brought further blows, with Sandro Tonali joining Tottenham and Anthony Gordon moving to Barcelona, while Arsenal continue to pursue captain Bruno Guimarães.

Howe took over from Steve Bruce and delivered Newcastle’s first major trophy in 70 years, lifting the 2025 Carabao Cup. He also guided the club to Champions League qualification in both 2023 and 2025, though last season ended in an 8-3 aggregate defeat by Barcelona in the last 16. Their League Cup title defense fell at the semi-final stage, and their league form dropped off sharply after a fifth-place finish the year before.

Across his tenure, Howe won 84 of 179 Premier League games, drawing 38 and losing 57 — more league wins than any other Newcastle manager, and a win rate of 46.9% second only to Kevin Keegan’s club record.

His likely successor, 38-year-old Jaissle, has led Al-Ahli to back-to-back AFC Champions League titles since joining in 2023. A German former defender, he came through Stuttgart’s academy and played for Hoffenheim before a knee injury ended his career at 25, having earned caps at Under-21 level for Germany. He began coaching as an assistant at Danish club Brøndby, then took his first head coaching role at Austrian second-tier side Liefering, before succeeding Jesse Marsch at RB Salzburg in 2021 and winning two Austrian league titles and a domestic cup there.

Joint Security Team Rescues Nine Kidnap Victims, Kills Three Bandits In Kwara Operation

Favour Enyosa
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Joint Security Team Rescues Nine Kidnap Victims, Kills Three Bandits In Kwara Operation

A joint security team has rescued nine kidnapped victims and neutralised three suspected bandits during a coordinated operation in Ekiti Local Government Area of Kwara State.

According to a statement issued by the Chief Press Secretary to the Chairman of Ekiti Local Government Council, Prince Dada Sunday, the operation was carried out in the Obbo-Aiyegunle, Ejiu-Ora and Osi axis of Ekiti LGA, which borders Ekiti State and Niger State.

The operation involved Kwara State Forest Guards, operatives of the Department of State Services (DSS), local hunters and vigilantes.

Security sources disclosed that the victims were abducted from Eju community, located beyond the local market, and were being taken through the forest toward Niger State before security operatives intercepted the kidnappers.

One of the rescued victims, Umaru Muazu from Obbo Aiyegunle, said the attack happened at about 4:57 p.m.

“Men came from nowhere and put a gun to my head. Four of them took me and my son. Fear gripped me, and I fell to the ground. They also took my friend’s motorcycle and kidnapped us,” Muazu told reporters.

Another rescued victim, Ibrahim Danga, also from Obbo Aiyegunle, confirmed that they had been held captive for a short period before the security team launched the rescue operation.

A member of the Kwara Forest Guards, Owolabi Adebayo, explained that the operation was intelligence-led and formed part of an ongoing bush-combing exercise.

“We neutralised three of them and rescued nine people. One of the victims is receiving treatment for injuries,” Adebayo said.

He, however, noted that the bandits possessed superior firepower and appealed for additional operational equipment.

“There is no type of firearm that is not in their hand. We need more equipment such as body armor, binoculars, night goggles, walkie-talkies and more ammunition to confront them.”

The Chief Security Officer of Ekiti Local Government Area, Agbemuko Gabriel, praised the forest guards for their swift response and dedication to protecting communities.

“What they did for us two days ago, they are the ones that helped us rescue those people that were kidnapped along Ora-Yetoro axis. They have been doing enough security and intelligence work for us, and we are happy for that,” Gabriel said.

Footage from the operation showed security operatives displaying several motorcycles reportedly recovered from the suspected bandits, while the rescued victims were also presented.

The successful operation comes as the Federal Government intensifies efforts to tackle banditry and kidnapping across the country.

Authorities also disclosed that approval has been granted for the establishment of a new Army battalion in Umaro, Kwara South, to strengthen security operations in the area.

Security agencies said joint patrols and bush-combing operations will continue across Kwara South and neighbouring border communities to curb further attacks on residents and farming communities.

Okonjo-Iweala Urges Nigeria To Deepen Reforms To Unlock Global Trade Opportunities

Favour Enyosa
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Okonjo-Iweala Urges Nigeria To Deepen Reforms To Unlock Global Trade Opportunities

Nigeria must sustain its ongoing macroeconomic reforms and ensure they translate into job creation and improved living standards if it hopes to take advantage of changing global trade patterns, according to the Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala.

Speaking at the opening of the 7th Africa Emerging Markets Forum in Abuja on Wednesday, Okonjo-Iweala said countries that improve their business environment, maintain macroeconomic stability and attract investment will be better positioned to benefit from the ongoing diversification of global supply chains.

She urged Nigeria to continue implementing broad-based economic reforms while maintaining a balanced approach to fiscal policy, debt management and employment generation, stressing that citizens must begin to experience the practical benefits of the reforms.

“Nigerians have to feel the impact of reforms,” she said, adding that government policies should ultimately improve livelihoods and strengthen the country’s competitiveness.

The WTO Director-General noted that the global economy is gradually reducing its dependence on a few major markets as businesses diversify production locations following disruptions caused by the COVID-19 pandemic, geopolitical tensions and supply chain challenges.

She observed that despite growing protectionist rhetoric, about 72 per cent of global trade still operates under WTO rules, highlighting the resilience of the multilateral trading system. She added that many countries are also expanding bilateral and regional trade agreements that go beyond tariff reductions to include broader economic cooperation.

Okonjo-Iweala encouraged African countries to maximise opportunities in green industries and critical minerals, noting that the continent possesses an estimated 30 per cent of the world’s mineral reserves. She urged governments to move beyond exporting raw materials by investing in value addition and greater participation in global value chains.

She also advocated comprehensive reforms of global institutions, including the WTO, warning that increasing fragmentation of global trade could weaken economic growth. Instead, she called for an open, predictable and rules-based trading system capable of supporting export-led growth and protecting economies from domestic shocks.

To attract higher levels of investment, she advised developing countries to strengthen their business climate, improve physical and digital infrastructure, and maintain stable macroeconomic policies.

Okonjo-Iweala further noted that Africa has a unique opportunity to become a major contributor to the future global workforce while expanding South-South trade. However, she stressed that this would require stronger regional cooperation, improved competitiveness and sustained economic reforms.

Also speaking at the forum, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, called on African countries and other emerging economies to take a leading role in shaping the evolving global economic order rather than simply responding to it.

Cardoso said the world economy is undergoing significant transformation and argued that the key challenge for emerging markets is no longer whether to adapt to change but whether they can actively influence the future global system.

He highlighted Africa’s growing workforce, expanding consumer market and vibrant innovation ecosystem as important drivers of long-term growth, while emphasising the need for prudent macroeconomic policies, stronger institutions and deeper regional integration.

Speaking on Nigeria’s economic reforms, the CBN governor said the apex bank has prioritised greater transparency, policy consistency and stronger institutional accountability to rebuild investor confidence and reinforce macroeconomic stability.

According to him, the increasing level of investor interest indicates that the government’s reform agenda is gradually strengthening confidence in Nigeria’s economic outlook.

Cardoso also underscored the importance of international cooperation, noting that no country can effectively tackle today’s interconnected global economic challenges in isolation.

2027 Election: ADC Vows To Protect Its Votes, Says It Won’t Rely Solely On INEC

Favour Enyosa
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2027 Election: ADC Vows To Protect Its Votes, Says It Won’t Rely Solely On INEC

The African Democratic Congress (ADC) has declared that it will not depend solely on the Independent National Electoral Commission (INEC) to safeguard votes cast for its candidates in the 2027 general election, revealing that it has developed its own strategy to protect its electoral mandate.

The party’s National Publicity Secretary, Bolaji Abdullahi, made this known on Wednesday while speaking to journalists during a sensitisation walk in Ilorin, the Kwara State capital. The event was organised to mobilise residents ahead of the 2027 elections.

Abdullahi said the party’s position was influenced by its experience during the 2023 general election, explaining that although some INEC officials remain committed to conducting credible elections, safeguarding votes should not be based on trust alone.

“We know what INEC is capable of. We trusted the commission during the 2023 general election, but the outcome left us disappointed. We will not make the same mistake again by relying solely on trust,” he said.

The ADC spokesperson stated that the party is determined to ensure that every vote cast in its favour is protected across the country but declined to reveal the specific measures it plans to adopt.

“We are not going to tell you, but that is what we are going to do if we must win this election,” Abdullahi stated.

He also expressed confidence that President Bola Tinubu would be defeated in the 2027 presidential election, arguing that the ADC’s commitment to defending its votes would significantly improve its chances at the polls.

According to him, the party has already intensified mobilisation efforts nationwide as part of its preparations for the next general election.

APC Directs Tinubu’s Appointees To Campaign Or Step Down

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APC Directs Tinubu’s Appointees To Campaign Or Step Down

The All Progressives Congress (APC) has directed political appointees serving under President Bola Tinubu’s administration to actively participate in grassroots mobilisation for the party ahead of the 2027 general election or resign from their positions.

The directive was issued on Wednesday in Abuja by the APC National Chairman, Prof. Nentawe Yilwatda, while receiving members of the Progressive Local Government Chairmen’s Forum, led by the Chairman of Chanchaga Local Government Area of Niger State, Dr. Mustafa Jibrin.

The delegation met with the party leadership to present its mobilisation plans in preparation for the 2027 elections.

Yilwatda said political appointments come with a responsibility to contribute to the party’s electoral success and should not be viewed as purely administrative roles.

“You cannot hide behind the claim of being a technocrat to avoid your political responsibilities. If you accept a political appointment, you must also play your role as a politician,” he said.

He added that individuals who are unwilling to participate in partisan political activities should refrain from accepting political appointments.

The APC chairman also instructed local government chairmen to monitor the political activities of appointees within their wards and report those who fail to support the party’s grassroots structure.

According to him, political relevance at the grassroots is just as important as effective performance in government.

“You know who is delivering politically at the grassroots. An appointee may be performing well in the office, but if they have no political presence in their ward, that is a problem. Anyone who accepts a political appointment must also accept the responsibilities that come with politics,” Yilwatda stated.

He emphasised that the APC’s success in the 2027 elections would depend largely on sustained grassroots mobilisation rather than government performance alone.

Yilwatda urged council chairmen to identify areas where the party needs improvement and highlight political appointees who are not contributing effectively to the APC’s mobilisation efforts.

He also assured the forum of the party’s support for the inauguration of its state coordinators and announced plans to organise a mass endorsement rally in Abuja in support of President Bola Tinubu’s re-election campaign.

“We will give you our full support in your mobilisation efforts. The party will also support the inauguration of your state coordinators and work with you to organise a mass endorsement rally for President Bola Tinubu’s re-election in Abuja,” he said.

Nigeria’s Debt Securities Hit ₦175.46tn As Government Borrowing Rises

Favour Enyosa
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Nigeria’s Debt Securities Hit ₦175.46tn As Government Borrowing Rises

Nigeria’s outstanding debt securities increased by 14.47 per cent to ₦175.46 trillion in 2025 as the Federal Government expanded borrowing to finance budget deficits, according to the Central Bank of Nigeria (CBN).

The apex bank disclosed this in its 2025 Annual Report, revealing that the country’s debt securities grew by ₦22.13 trillion, up from ₦153.28 trillion recorded in 2024.

According to the report, the increase was driven by higher government borrowing requirements and investors’ growing preference for debt instruments over conventional lending due to attractive market yields.

Despite the overall rise in debt securities, the CBN’s claims on the Federal Government through debt instruments declined by ₦348.58 billion, representing a 1.3 per cent decrease, to ₦26.40 trillion from ₦26.74 trillion in 2024.

The bank attributed the reduction mainly to lower domestic claims on the Federal Government following a decline in Ways and Means advances.

The CBN also reported a drop in its holdings of foreign debt securities, which fell by ₦303.62 billion, or 1.85 per cent, to ₦16.08 trillion, citing weaker foreign investment inflows and portfolio adjustments.

Debt securities issued by Other Depository Corporations (ODCs) declined sharply by 42.2 per cent to ₦10.56 billion, as investors shifted towards treasury bills and Federal Government bonds amid high interest rates.

However, ODCs increased their investments in Federal Government debt instruments by ₦2.24 trillion, representing a 12.5 per cent increase, bringing their total holdings to ₦20.15 trillion during the review period.

The report further showed that Nigeria’s total public debt stood at ₦153.29 trillion as of September 2025, equivalent to 35.55 per cent of Gross Domestic Product (GDP). According to the CBN, this remains well below Nigeria’s 60 per cent debt ceiling and the 70 per cent benchmark recommended for market access economies.

On the fiscal side, the CBN reported a significant improvement in government revenue, with federally collected revenueincreasing by 33.67 per cent to ₦36.08 trillion in 2025.

The growth was attributed to stronger collections from both oil and non-oil sources, particularly Value Added Tax (VAT), Companies Income Tax (CIT), Petroleum Profit Tax (PPT) and oil royalties, supported by improved tax administration and stronger compliance.

Non-oil revenue accounted for ₦23.35 trillion, representing 64.71 per cent of total revenue, while oil revenue almost doubled to ₦12.73 trillion, driven by higher remittances from the Nigerian National Petroleum Company Limited (NNPCL) and improved petroleum tax collections.

After statutory deductions of ₦15.78 trillion, the Federation recorded ₦21.94 trillion in distributable revenue, supported by exchange gains, excess non-oil revenue and excess oil revenue.

From the distributable revenue, the Federal Government received ₦7.57 trillion, while state governments shared ₦7.38 trillion and local governments received ₦5.40 trillion. Oil-producing states also received ₦1.59 trillion as 13 per cent derivation revenue.

Among the states, Lagos received the highest federation allocation at ₦720.50 billion, followed by Delta, Akwa Ibom, Rivers and Bayelsa, while Nasarawa recorded the lowest allocation. Ekiti, Ebonyi, Gombe and Taraba were also among the states with the smallest allocations.

The CBN added that tax revenue remained the primary source of government earnings, contributing ₦32.06 trillion, or 88.87 per cent of total federally collected revenue, while non-tax revenue declined significantly during the year.

Akwa Ibom NMA Warns Of Doctor Shortage, Seeks Seven Medical Schools

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Akwa Ibom NMA Warns Of Doctor Shortage, Seeks Seven Medical Schools

The Nigeria Medical Association (NMA), Akwa Ibom State chapter, has expressed concern over the shortage of medical professionals in the state, urging the government to establish more medical training institutions to address the growing workforce deficit.

Speaking during a press briefing in Uyo ahead of the association’s Annual General Meeting and Scientific Conference, the NMA Chairman, Prof. Aniekan Peter, called on the Akwa Ibom State Government to establish at least seven medical training institutions to strengthen the healthcare sector.

Prof. Peter lamented that the state has consistently struggled to fill approved positions for healthcare workers, despite efforts to recruit more personnel.

“If there are vacancies for 100,000 teachers in the state, I’m sure you will find them immediately, but recently the State governor, Umo Eno, approved employment for 400 doctors and we couldn’t get them. It means that there’s something wrong somewhere.

“We were looking for 700 nurses for the first time, and we couldn’t get them until we relaxed some of the criteria before we were able to get the number. So it’s time as a people to begin to refocus, and that’s why our AGM is all about: Refocusing our attention for the future of health care for Akwa Ibom,” Peter said.

He stressed that the government must begin to view medical education as a long-term investment that will improve healthcare delivery across the state.

Commending Governor Umo Eno for approving the establishment of a medical school at Akwa Ibom State University, Peter described the move as a positive step but said more needed to be done to meet the state’s healthcare demands.

“We appreciate the governor for the approval granted to the Akwa Ibom State University to start doing medicine and other medical courses. But for Akwa Ibom State, that is one over four; it’s still a failure, just 25%. So we thank the governor for opening the first medical school in the state; other states like Delta already had four,” he said.

He further argued that expanding medical education would not only address the shortage of doctors but also create opportunities for students interested in other healthcare professions.

“Medicine is no more a course; it’s an empowerment, and any state or country that doesn’t recognize this will not get it right. If Akwa Ibom wants to be one of the states to be reckoned with, we must see medical education as an empowerment; we must have at least seven medical schools in this state.

“So that any of our children that wants to read medicine or surgery can have admission and the number that want to be nurses, physiotherapists will not be a problem, and by God’s grace we can do it,” he added.

Peter also noted that several existing healthcare facilities across the state could be upgraded into medical training institutions.

“We have our general hospital at Ikot Ekpene that can be a focus of a university; we have our general hospital at Eket that can be another focus of another university. We can even train them in different medical centres; we have the Ibom Specialist Hospital that can stand alone as a university,” he said.

Ugandan Opposition Leader Kizza Besigye Hospitalised After Court Collapse

Ayomitunde Adeyemi
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Ugandan Opposition Leader Kizza Besigye Hospitalised After Court Collapse

Veteran Ugandan opposition figure Kizza Besigye has been rushed into intensive care in Kampala after collapsing during his treason trial, according to his wife, Winnie Byanyima, who leads the UN’s HIV/AIDS agency.

The 70-year-old, who has been in detention since November 2024, lost consciousness while objecting to the appointment of state lawyers to represent him in court. Byanyima described him on X as unconscious and unresponsive, unable to speak or react even to pain.

Besigye was seized in a dramatic 2024 abduction from Kenya and returned to Uganda, where he and his aide Obeid Lutale now face treason charges — allegations both men deny. Prosecutors claim the pair conspired to overthrow President Yoweri Museveni’s government. Treason carries the death penalty in Uganda.

Witnesses at Wednesday’s High Court hearing said Besigye repeatedly called out “stop” over his legal representation before collapsing. His wife said he cried out that he was being hurt just before losing consciousness, and that his sister — a doctor who was present in court — was initially barred from helping him.

He was taken to Mulago National Referral Hospital but has refused treatment from government medical staff, insisting instead on care from his personal physician at a private clinic. Armed security officers are guarding the ICU wing where he’s being held, though reports indicate his sister has since been permitted to see him.

Besigye’s legal team has faced its own troubles: lead lawyer Erias Lukwago remains jailed after being detained by the army last month, while Kenyan lawyer Martha Karua was blocked from entering Uganda when she tried to represent him.

Pressure is mounting from Besigye’s family, opposition figures, and human rights groups for his release on medical grounds. His son, Adam Ampa, published an open letter appealing directly to Museveni and army chief Gen. Muhoozi Kainerugaba for compassion, saying no son should watch his father reach such a state while facing the justice system he once served.

This isn’t Besigye’s first hospitalization in custody he was treated at a private clinic in February 2025 after a hunger strike over his detention, and was briefly hospitalized again earlier this year. Exiled opposition politician Bobi Wine called his condition in court a serious breach of his basic rights.

Besigye, who once served as Museveni’s personal physician before becoming his political rival in 1999, has run for president four times but sat out the 2021 election and has kept a lower political profile in recent years.

Why STEM Graduates Are Dominating The World’s Most Competitive Jobs

Favour Enyosa
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Why STEM Graduates Are Dominating The World’s Most Competitive Jobs

Two former Massachusetts Institute of Technology (MIT) students have joined an elite group of mathematicians after receiving the prestigious 2026 Fields Medal, one of the highest honours in mathematics. Their achievement is not only a celebration of academic excellence but also a reminder of why graduates in science, technology, engineering and mathematics (STEM) continue to be among the most sought-after professionals globally.

Yu Deng and Hong Wang, both MIT alumni, were announced as recipients of the award during the 2026 International Congress of Mathematicians (ICM) alongside mathematicians John Pardon and Jacob Tsimerman.

The Fields Medal is presented once every four years to mathematicians under the age of 40 whose work has made exceptional contributions to the field. It is often regarded as mathematics’ equivalent of the Nobel Prize.

Why STEM Graduates Continue To Be Among The World’s Most In-Demand Professionals

The success of Deng and Wang reflects a broader global trend. STEM graduates consistently enjoy some of the highest employment rates, fastest career growth and strongest salaries across industries.

Several factors explain why employers increasingly prioritise candidates with STEM backgrounds.

STEM Develops High-Value Problem Solvers

Mathematics, engineering, computer science and the natural sciences train students to solve complex problems using logic, evidence and analytical thinking.

These abilities are valuable far beyond laboratories and classrooms. They are essential in sectors such as:

Artificial intelligence
Cybersecurity
Finance
Data science
Healthcare
Energy
Manufacturing
Government policy
Defence
Climate technology

As businesses rely more heavily on technology and data, professionals who can think critically and solve difficult problems remain indispensable.

The Global Economy Is Becoming More Technology-Driven

According to reports from organisations including the World Economic Forum, OECD, UNESCO and the International Labour Organization, demand for STEM talent continues to rise because economies are becoming increasingly digital.

Artificial intelligence, automation, robotics, renewable energy, biotechnology and advanced manufacturing are creating entirely new industries while transforming existing ones.

This means employers are competing for professionals who possess strong quantitative and technical skills.

STEM Skills Transfer Across Multiple Industries

One advantage of STEM education is flexibility.

A mathematics graduate, for example, may eventually work as:

A quantitative analyst
An AI researcher
A software engineer
A cybersecurity expert
A financial modeller
A university researcher
A policy adviser
A startup founder

Unlike many specialised careers, STEM qualifications often provide opportunities across numerous sectors.

Many of the technologies shaping modern society originated from mathematical or scientific research that initially appeared highly theoretical.

Breakthroughs in:

Internet security
Medical imaging
GPS navigation
Artificial intelligence
Climate modelling
Space exploration

all rely heavily on advanced mathematics.

The work recognised by the Fields Medal may seem abstract today, but history repeatedly shows that foundational mathematical discoveries often become tomorrow’s technological innovations.

Meet The Two MIT Alumni Who Won The 2026 Fields Medal

Yu Deng

Yu Deng graduated from MIT with a Bachelor of Science in Mathematics in 2011.

He received the Fields Medal for groundbreaking work in partial differential equations, including:

The rigorous derivation of the Boltzmann equation from hard-sphere dynamics for rarefied gases
The derivation of wave kinetic equations from nonlinear dispersive systems
Probabilistic approaches to nonlinear Schrödinger dynamics

His first published research paper originated from undergraduate summer research conducted at MIT.

Today, Deng serves as a professor at the University of Chicago.

Hong Wang

Hong Wang earned her PhD from MIT in 2019 under the supervision of Larry Guth.

She was recognised for pioneering work in harmonic analysis and geometric measure theory, including major advances in:

The local smoothing conjecture for the planar wave equation
Multiscale and decoupling techniques
Solving the Kakeya problem in three dimensions

Wang is now a Silver Professor of Mathematics at New York University and also serves as a professor at the Institut des Hautes Études Scientifiques in Paris.

Her award is historic because she becomes only the third woman ever to receive a Fields Medal.

MIT Says The Awards Reflect The Strength Of Research And Mentorship

Reacting to the announcement, MIT’s Department Head of Mathematics, Michel Goemans, praised both mathematicians.

“The achievements of Yu Deng and Hong Wang are truly monumental, and we are all elated that they were awarded Fields Medals.”

He added that their success demonstrates both the quality of students at MIT and the institution’s emphasis on mentorship and research opportunities.

“MIT is a unique and exciting place to learn mathematics, and I am sure we have more future Fields medalists among our students and junior members of the department.”

National Assembly Praises SEC For Revenue Growth, Urges Commission To Exceed 2026 Target

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National Assembly Praises SEC For Revenue Growth, Urges Commission To Exceed 2026 Target

The National Assembly has commended the Securities and Exchange Commission (SEC) for improving its fiscal sustainability through stronger revenue generation and prudent financial management.

The commendation was given by the Deputy Chairman of the House of Representatives Committee on Finance, Hon. Saeed Musa Abdullahi, during the 2026 Revenue Monitoring Exercise with the Commission in Abuja.

Speaking during the engagement, Abdullahi praised the leadership of the SEC for its performance over the years.

“DG, you have done significantly well. We have followed the progress of the SEC over the years and urge you to keep the flag flying. We will continue to celebrate you when you do well,” he said.

He stressed that the revenue monitoring exercise was not intended to target or intimidate any government agency but to encourage improved performance, particularly as Nigeria continues to grapple with fiscal challenges.

“This exercise is not to witch-hunt any agency. It is aimed at ensuring better performance, especially at a time when the country is facing serious fiscal challenges,” he added.

Abdullahi also challenged the Commission to outperform its revenue target for 2026.

“You have told us your revenue projection for 2026, but we believe you can do more. We urge you to surpass your projection by at least 20 per cent, or even more,” he said.

Responding, the Director-General of the SEC, Dr Emomotimi Agama, said the Commission operates as a financially independent regulator in line with the standards of the International Organization of Securities Commissions (IOSCO).

“The SEC does not receive any funding from the government; rather, it pays money to the government. All the money used to run the Commission comes from the market,” he said.

Agama explained that statutory deductions are automatically made once the Commission’s revenue is paid into its account with the Central Bank of Nigeria (CBN).

“When these funds hit our account with the CBN, deductions are made directly by the government. We do not have access to the funds before the deductions are effected,” he explained.

The SEC boss further disclosed that the Commission obtained approval from the Minister of Finance to retain 20 per centof its internally generated income to support its operations.

“We are regulators and are not expected to ask the market for money. The 20 per cent waiver ensures our operations are not hindered,” he said.

Agama also revealed that the Commission had secured a grant from the African Development Bank to deploy a modern market surveillance system before the end of the year, a move aimed at strengthening oversight and enhancing transparency in Nigeria’s capital market.

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