Economy
SEC Reiterates Role of Technology in Efficient Capital Market
By Adedapo Adesanya
The Securities and Exchange Commission (SEC) has said that technological innovations will enhance the efficiency and transparency of the capital markets around the world.
The Director-General of the commission, Mr Lamido Yuguda, said this in a goodwill message at the Nigerian Exchange (NGX) Limited. Capital Market Conference held in Abuja on Tuesday.
He said that technology could make it easier for investors and market professionals to identify opportunities and conduct their businesses in a timely and cost-efficient manner.
The theme of the conference was The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery.
Mr Yuguda said that the capital market globally plays a strategic role, not only in allocating scarce resources but in harnessing the huge investment opportunities in agriculture, infrastructure, oil and gas, natural resources and other sectors of the economy.
He said: “Nigeria like most other countries in the world experienced weak growth in their economies as a result of the impact of the COVID-19 pandemic.
“The Nigerian economy is just recovering from the effect of the COVID-19 pandemic, with a Gross Domestic Products (GDP) growth rate of 4.03 per cent in the third quarter of this year from a contraction of 6.10 per cent in the second quarter of 2020.
“To sustain this trajectory, overcome some of the negative impacts of the pandemic and achieve the objectives of the developmental plans of the government, the capital market needs to continuously produce innovative products, platforms and processes.
“Innovation plays a critical role in the development of any capital market as it increases the market chances of reacting to changes, and enables discovery of new opportunities.”
Mr Yuguda said that the International Organisation for Securities Commission (IOSCO) acknowledges that the use of technological innovations by market operators could potentially create significant efficiencies and benefits for firms and investors, including increasing execution speed and reducing the cost of investment services.
“However, IOSCO also notes that this use may create or amplify certain risks, which could potentially have an impact on the efficiency of financial markets, resulting in consumer harm.
“As the apex body responsible for regulating and developing the Nigerian capital market, SEC has strengthened market rules and regulations with the introduction of responsive rules and the amendment of existing ones to mitigate some of the risks posed by technological innovations.
“With a three-pronged objective to regulating innovations hinged on safety, markets deepening, and solution to problems, our regulations, are enabling, accommodating and futuristic.
“They also ensure adherence to our core regulatory mandates of investor protection and market development,” he said.
Furthermore, he stated that the SEC had put mechanisms in place to understand relevant innovations, build required capacity and subsequently deploy strategies to address them, adding that this process was ongoing and the Commission was deeply committed to this new phase and face of the capital market.
Mr Yuguda also said that the SEC had revamped its enforcement mechanism and enforced its zero-tolerance against infractions in a bid to improve investors’ confidence in the market and to optimally perform its investor protection mandate as evidenced in the Commission’s aggressive fight against unlawful investment schemes, which in recent times had plagued the financial markets.
“We have also committed resources to enhancing our processes through fortification of our ICT infrastructure in the areas of Registration, Returns Rendition and Analytics.
Given that the advent of Financial Technology had changed how traditional capital market activities are being conducted, the SEC had embraced Fintech, and as such, had redefined its regulatory landscape to accommodate fintech-related capital market activities.
“To this end, we have developed rules on crowdfunding, Robo-advisory and Digital Sub-broking. In addition, we have developed a ’Regulatory incubation framework, which will be implemented in due course.
“To align our market with the global focus on sustainable financing, the SEC released its guidelines to the market on sustainable financial principles to guide regulated entities on how to establish relevant standards and policies for their respective organisations,” he stated.
On his part, the NGX Chairman, Mr Abubakar Mahmoud, said that as the order of globalisation continues to stir the world’s economies, it had become pertinent for stakeholders to appraise the issues and forge ahead.
Mr Mahmoud said: “The theme of the conference is indeed apt and timely, in view of the emerging collaborations, strategic alliances and developments in the Nigerian capital market, especially as Nigeria works toward a sustainable post-COVID-19 recovery.
“As the order of globalisation continues to stir the world’s economies and new unprecedented issues such as the COVID-19 pandemic, it is pertinent for all stakeholders to appraise the situation to forge ahead with a collaboration journey toward sustainability and prepare for the future of our nation,” he said.
He also identified the capital market as the best funding source to tackle the huge infrastructure deficit in the country.
Mr Mahmoud noted that increasing taxes was a disincentive as the move placed more burdens on the citizenry.
By Adedapo Adesanya
Easing tensions between the US and Iran in the Middle East is expected to offer more respite to the Nigerian economy in the coming months.
Analysts at Comercio Partners noted in a report that there is an increased likelihood of a gradual moderation in inflation from July into the third quarter of 2026.
The analysts opined that the near-term outlook for inflation “has become less tilted to the upside” following the peace deal reached by the warring parties in the Middle East conflict and the sharp decline in global oil prices.
The report read in part: “May inflation data showed that price pressures remain sticky, but the near-term outlook has become less tilted to the upside following the peace deal and the sharp decline in global oil prices.
“Headline inflation rose to 15.93 per cent year-on-year from 15.69 per cent in April, while food inflation climbed to 16.96 per cent and core inflation increased to 16.82 per cent, suggesting that both food and underlying non-food price pressures remain elevated.
“However, the easing in crude oil prices below $85/bbl reduces the risk of a renewed energy-led inflation shock. This is important for Nigeria, where fuel, diesel, transport, logistics, and food distribution costs are key channels through which global energy prices feed into domestic inflation.
“If lower oil prices are sustained and domestic fuel prices remain stable or decline, pressure on transport and production costs should gradually ease.”
It noted that in June, inflation may remain sticky because the pass-through of lower oil prices to consumer prices is unlikely to be immediate.
It added that food prices remain elevated, and core inflation picked up month-on-month in May, indicating that underlying price pressures have not fully faded. According to the National Bureau of Statistics (NBS), the inflation rate on a month-on-month basis was 1.75 per cent, which was 0.39 per cent lower than the rate recorded in April 2026 (2.13 per cent).
“However, the balance of risks has shifted. The likelihood of another sharp energy-driven acceleration has reduced, while the probability of gradual moderation from July into Q3 has improved.”
The analysts said in the report that while the latest CPI data, “still supports a cautious tone across rates and fixed income, as annual headline, food, and core inflation all moved higher in May,” the decline in oil prices gives the Central Bank of Nigeria (CBN) “more room to maintain a wait-and-see stance rather than respond aggressively to external energy-price risks, provided domestic prices begin to reflect the easing in global crude markets.”
Economy
All On Invests $1m in Eja-Ice Nigeria Limited to Strengthen Cold-Chain Infrastructure in Off-Grid Markets
All On, an impact investing company focused on expanding access to renewable energy solutions in Nigeria, has announced a $1 million investment in Eja-Ice Nigeria Limited, a provider of solar-powered refrigeration and cold chain infrastructure.
The investment will support Eja-Ice’s manufacturing and operational scale-up as the company enters its next phase of growth. It is expected to enable the expansion of its cold-chain solutions and improve access to reliable cooling services for households, small businesses, and institutions operating in off-grid and weak-grid environments.
Access to dependable cold storage remains a significant constraint across Nigeria, particularly in coastal and rural communities where limited energy infrastructure contributes to post-harvest losses and income instability for small-scale agro-producers.
By delivering energy-efficient refrigeration systems, Eja-Ice is helping to address these challenges while supporting the preservation of perishable goods and strengthening local value chains.
“All On’s investment in Eja-Ice reflects our approach of supporting solutions that improve energy access while enhancing livelihoods, reducing costs, and enabling businesses to grow. Strengthening cold-chain infrastructure is an important step towards building more resilient local economies and expanding opportunities in underserved markets,” the chief executive of All On, Ms Caroline Eboumbou, commented on the investment.
Eja-Ice’s integrated cold-chain model allows for greater control over product design, operational efficiency, and service delivery, ensuring that its solutions are tailored to the needs of underserved markets. The company’s systems are already supporting micro enterprises, cooperatives, and community-level infrastructure, particularly in areas where reliable electricity remains limited.
Also commenting, the founder and chief executive of Eja-Ice Nigeria Limited, Mr Yusuf Bilesanmi, said, “This capital raise is a huge step forward in our vision to power homes and businesses with products designed, assembled, and optimised right here on the continent. It’s not just about access to electricity—it’s about dignity, productivity, and opportunity for the over 600 million people across sub-Saharan Africa who are still off-grid.”
Through this investment, All On continues to advance its mission of closing Nigeria’s energy access gap by supporting the renewable energy ecosystem and businesses that deliver sustainable, market-driven solutions.
By Aduragbemi Omiyale
Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.
A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.
According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.
These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.
The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.
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