General
NGX Echoes Commitment Towards Gender Equality, Inclusion
By Modupe Gbadeyanka
The Nigerian Exchange (NGX) Limited has reassured that it will continue to create and maintain an environment that is free from all forms of discrimination as part of its efforts to promote and support gender equality.
The chief executive of the exchange, Mr Temi Popoola, stated that organisational culture remains of utmost importance in enhancing performance, adding that the NGX recognizes this.
Speaking on Tuesday at the launch of Hofstede Insight’s Nigeria Diversity, Equity and Inclusion report, Mr Popoola said a recent study conducted by Boston Consulting Group showed that companies with more diverse management teams have 19 per cent higher revenues due to innovation.
According to him, the exchange implements various initiatives that help shape the method that issuers adopt in their approach to corporate governance, and by extension, promote diversity, equity and inclusion.
“In Nigeria, gender forms arguably the most topical theme in the discourse on diversity, equity and inclusion. Promoting gender equality can be an economic game-changer and at NGX, our support for gender equality, and by extension, elimination of gender-based discrimination is a strategic element of our Corporate Sustainability Strategy (CSR).
“Within our operations, we are committed to creating and maintaining an environment that is free from all forms of discrimination. Across our ecosystem, we have partnered with International Finance Corporation (IFC) to implement the first multi-stakeholder country project focused on reducing gender gaps in Nigeria’s private sector companies,” Mr Popoola said.
He further revealed that the exchange pays close attention to gender balance by tracking the ratio of male to females across its operations and subsidiaries while adding that prior to demutualization, the Nigerian Stock Exchange (NSE) had a female representation of 27 per cent on the National Council, the highest level of leadership of the NSE.
“This has improved significantly since our demutualization with female participation standing at 27 per cent for NGX Group and 18 per cent, 57 per cent and 50 per cent for NGX Real Estate, NGX Regulation and Nigerian Exchange Limited (NGX) respectively.
“It is noteworthy to add that the Chairpersons of NGX Regulation and NGX Real Estate, as well as the Chief Executive Officer of NGX Regulation, are women.
“We remain committed to committed to championing efforts aimed at advancing gender equality across our ecosystem through the introduction of gender-responsive and inclusive financial instruments, advocacy for increased participation of women on boards and in senior management and support for capacity building initiatives to enable companies to achieve their gender-related aspirations,” he said.
General
DSS Accuses Malami, Son of Terrorism Financing in Court
By Adedapo Adesanya
The Department of State Services (DSS) has arraigned the former Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, and his son, Mr Abudlazizz Malami, on a five-count charge of abetting terrorism financing and illegal possession of firearms.
They were arraigned before Justice Joyce Abdulmalik of the Federal High Court in Abuja, where they pleaded not guilty to the charges.
In the charge, the former AGF was accused of knowingly abetting terrorism financing by refusing to prosecute terrorism financiers whose case files were brought to his office as the AGF in the last administration for prosecution.
Recall that the secret police had arrested Mr Malami, shortly after his release from Kuje prison in Abuja more than two weeks ago after Justice Emeka Nwite of the Federal High Court in Abuja granted him and two others bail in the sum of N500 million in another case involving the Economic and Financial Crimes Commission (EFCC).
Mr Malami and his son are also accused by the DSS of engaging in conduct in preparation to commit act of terrorism by having in their possession and without licence, a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5’20 live rounds of Cartridges and 27 expended Redstar AAA 5’20 Cartridges.
His arrest in January followed weeks of reports of surveillance by the secret police in front of the prison facility since the time Mr Malami, his wife and son were remanded there over the money laundering charges.
As per reports, Mr Malami had gathered that he would be picked up upon regaining his temporary freedom and so decided to wait out the DSS. However, after his eventual emergence, the operatives took the ex-AGF into detention again.
General
Lagos Launches Coastal Community Responder Programme for Waterways Safety
By Adedapo Adesanya
The Lagos State Waterways Authority (LASWA) has initiated an inter-agency partnership with the Centre for Rural Development (CERUD) to establish the Coastal Community First Responder Programme (CCFRP).
The first responder programme is aimed at promoting safe and secure transportation across Lagos waterways.
The initiative was unveiled during a meeting between a LASWA delegation and officials of the Ministry of Local Government, Chieftaincy Affairs and Rural Development at the secretariat in Alausa.
Leading the LASWA team, Mr Olademeji Shittu said the programme is designed to reduce fatalities and material losses on Lagos waterways, particularly in hard-to-reach coastal communities.
According to Mr Shittu, the CCFRP will focus on empowering community volunteers through targeted capacity building for sustainable rural development, while also equipping them with relevant skills that can enhance employability within the maritime sector.
He noted that trained volunteers will serve as community-based first responders, working in close collaboration with LASWA to strengthen search and rescue operations.
Providing the rationale for the programme, Mr Shittu highlighted the recurring cases of marine incidents and fatalities on Lagos waterways, often worsened by delayed emergency response in remote coastal areas.
He explained that residents of these communities are usually the first on the scene during accidents, making it necessary to formalise their role through structured training and partnerships.
He added that the collaboration with CERUD will help create a sustainable framework that aligns community development with safety and emergency response, while fostering a sense of ownership and responsibility among coastal residents.
According to a statement, the Coastal Community First Responder Programme is expected to enhance emergency preparedness on Lagos waterways, improve response times during marine incidents, and contribute to safer water transportation across the state.
General
NLC, TUC Suspend Planned Protest, Ask FCTA Workers to Resume
By Adedapo Adesanya
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended their planned protest in the Federal Capital Territory and instructed workers under the Federal Capital Territory Administration (FCTA) to return to their duties with immediate effect.
The directive followed an overnight engagement involving labour leaders, the Minister of the FCT, Mr Nyesom Wike, and members of the Senate Committee on the FCT.
The meeting, which began late on Monday, stretched into the early hours of Tuesday, culminating in an agreement that led to the unions’ decision to halt the protest action and restore normal activities across FCTA offices.
This comes after Justice Emmanuel Subilim of the National Industrial Court issued an interim order restraining the NLC, TUC, and three others from embarking on any form of industrial action or protest.
Ruling on an ex-parte application filed by the Minister of the FCT and the FCT Administration, Justice Subilim granted an interim order restraining the 1st to 5th respondents and their privies or agents from embarking on strike pending the hearing of the motion on notice, also ordering the 5th-9th defendants who are security agencies to ensure no break down of law and order.
The ex-parte motion, which was filed by the counsel to Mr Wike and the FCTA, Ogwu Onoja, submitted that the Chairman of the FCT council had sent a message of mobilization to members and affiliated unions for a mass protest scheduled for February 3.
This move, he noted, was in violation of the orders of court, adding that after the ruling of the court on January 27, the order of the court was served on the defendants, same day the NLC and TUC issued a statement to all affiliated unions to intensify and sustain the strike.
The statement jointly signed by both unions directed that the striking workers should resume the strike as the unions’ counsel, Mr Femi Falana, has filed an appeal against the interlocutory ruling.
He further pointed out that With the statement, JUAC issued a circular directing all employees to continue the strike.
This position they say is aimed at causing break down of law and order in the Nations capital.
The court subsequently adjourned the case until February 10 for hearing.
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