Economy
Buhari Directs EFCC to Investigate SEC Boss
By Modupe Gbadeyanka
Chairman of the Economic and Financial Crimes Commission (EFCC) has been directed to launch an investigation into allegations of gross misconduct against the Director-General of the Securities and Exchange Commission (SEC), Mr Mournir Gwarzo.
This directive, given by President Muhammadu Buhari, followed a petition filed against the embattled SEC boss by the Centre for Anti-Corruption and Open Leadership (CACOL).
In the petition signed by CACOL Executive Chairman, Mr Debo Adeniran, it was alleged that Mr Gwarzo paid himself a severance package of N104 million in “total disregard to the standing rule in the civil service.”
As a result, CACOL urged the President to “order a thorough audit of the finances of the Commission.”
The petition, received at the Presidential Villa last Saturday, copied the President, the Senate President, Speaker of the House of Representatives, Chairmen of Senate and House of Representatives Committees on Capital Market; Acting EFCC Chairman, Chairman of the Independent Corrupt Practices and other related offences Commission, Chairman of the Presidential Advisory Committee on Anti-Corruption, Commissioner of Police at the Special Fraud Unit and others.
It was gathered that the President, after viewing the petition, directed the EFCC to thoroughly look into the matter.
The Acting Chairman of the EFCC was ordered to work with CACOL to determine if the SEC DG paid himself the N104 million as alleged.
Mr Magu is also to find out if Mr Gwarzo is running the capital market regulatory agency like his personal estate.
The anti-graft agency was further mandated to determine if the SEC boss awarded contracts to firms belonging to his allies or relatives.
These companies include Outlook Communications, Tida International Limited, Outbound Investment Limited, Acromac Nigeria Limited, Balfort International Investment Limited, Medusa Investments Limited, Interactiven Worldwide Nigeria Limited, Northwind Environmental Services, and Micro-Technologies Limited.
Below is the petition filed by CACOL against Mr Gwarzo:
ALLEGATION OF CORRUPTION AND ABUSE OF OFFICE AGAINST THE DIRECTOR-GENERAL, SECURITIES AND EXCHANGE COMMISSION, SEC, MR MOURNIR HALIRU GWARZO
The attention of the Centre for Anti-Corruption and Open Leadership (CACOL) has been drawn to a large-scale abuse of office and gross official recklessness on the part of the Director-General of the Securities and Exchange Commission (SEC), Mr Mournir Haliru Gwarzo, who by our findings, has engaged in series of anti-establishment manipulations to enrich himself through acts that are at variance with civil service rules and regulations.
As Your Excellency is perhaps aware, our organisation, the Centre for Anti-Corruption and Open Leadership, CACOL, is an aggregate of human rights, community based and civil society organisations and individuals with anti-corruption and openness in governance agenda across Nigeria.
It is a non-political, non-religious, non-sectional and non-profit making organisation. We set for ourselves the tasks of promoting accountability, openness in governance and using any available means to cause relevant authorities to probe and bring to book, corrupt leaders both in public and private institutions.
We also strive to protect interest of persons or groups found to be victims or potential victims of corrupt practices or processes of manipulation and violation of human rights.
The decision to embark on the journey was taken in 2007 in view of the need to confront, once and for all, the monster that is ravaging all facets of our national life in Nigeria – CORRUPTION.
It is in view of our avowed commitment to the fight against corruption that we have presented the perceived official excesses and acts of corruption perpetrated by Mr Mournir Haliru Gwarzo before Your Excellency, having petitioned the President of the Senate, Speaker of the House of Representatives, the Economic and Financial Crimes Commission (EFCC) and other anti-corruption and law enforcement agencies.
The Issues:
On January 2, 2013, Mr Mournir Haliru Gwarzo was appointed an Executive Commissioner in the Securities and Exchange Commission for a four-year tenure by the then administration of President Goodluck Jonathan.
Before the expiration of the four-year deal, Gwarzo was elevated by same government as the Director General of the Commission on May 22, 2015. But consequent upon resumption of office as the Director General of SEC, Mr Gwarzo, ordered the payment of a severance benefit to himself to the tune of N104,851,154.94 (One hundred and four million, eight hundred and fifty one thousand, one hundred and fifty four naira and ninety-four kobo. We view this development as total disregard to the standing rule in the civil service that states that severance benefit can only be paid to an employee who has concluded his or her service and has completely disengaged from service and not to an employee who has been promoted within the Commission as is in the case of Mr Gwarzo.
- It is alleged that Mr Haliru Gwarzo runs SEC as his personal estate and appointed companies with links to him and some of his cronies in office to carry out transactions and provide services to the Commission. Some of the Companies listed to have links with Mr Gwarzo, his wife and other cronies are:
- Outbound Investment Ltd, RC NO. O. 807317
- Medusa Investments Limited, RC NO. 326829
- Northwind Environmental Services. REG NO BN2389176
- Micro-Technologies LTD RC NO. 173805
- Tida International Ltd RC NO. 26414
- Outlook Communications
- Acromac Nig Ltd RC NO. 10687864
- Balfort International Investment Ltd RC NO. 109153
- Interactiven Worldwide Nig Ltd RC NO. 779442
CACOL will want Your Excellency to direct the Economic and Financial Crimes Commission to look into the allegations of illegal creation of wealth from SEC by Mr Mournir Gwarzo.
We make bold to say that the personal interest of Mr Gwarzo in the above listed companies clearly contravenes the provisions of Nigerian law which distinctively prohibits public officers from putting themselves in situations where their personal interest conflicts with their public duties.
Our prayers
It is in view of these noted discrepancies that we urge Your Excellency to direct the Economic and Financial Crimes Commission to beam searchlights on the activities of Mr Mournir Haliru Gwarzo as the Director General of the Securities and Exchange Commission. The EFCC is in possession of all supporting documents on the above stated allegations which are at our disposal where from the above-enumerated issues were teased out. We are, however, at Your Excellency’s service or that of any of the anti-corruption agencies to provide more documents that may be necessary to facilitate a prompt delivery on the investigation at any point we are called upon for such assistance.
- That Your Excellency should take immediate steps to constitute a Board for the Securities and Exchange Commission as provided for in the extant laws establishing the Commission. The Investment and Securities Act (ISA) 2007 which gives the Commission its current powers also made a provision for the appointment of a nine (9) member Board to be headed by a Chairman. The idea of the Board is to, amongst other things, ensure that no Director-General of the Commission can become a law onto himself or herself and act without appropriate checks by the Board.
- Considering the high probability that a lot more atrocities may have been committed unchecked under the present circumstance in which the Securities and Exchange Commission has functioned without a Board, CACOL considers it incumbent to call on President Muhammadu Buhari to order a thorough audit of the finances of the Commission.
Please accept our esteemed regards as we look forward to Your Excellency’s decisive intervention in unearthing the issues raised here with strict compliance with the rule of law.
Economy
Trump Earned over $1 billion Through Cryptocurrency; How Can an Ordinary Investor Earn $17,700?
Trump publicly criticized Bitcoin in 2021 but rapidly shifted his stance during the campaign, proposing to make the United States the “global cryptocurrency capital.”
After returning to the White House, he signed an executive order supporting the development of the digital asset industry. Meanwhile, reports indicate that Trump and his associated businesses have generated over $1 billion in gains through cryptocurrency.
As we enter 2026, cloud mining is emerging as a new area of interest amidst the continued development of computing infrastructure and digital asset markets. For the average investor, the question arises: how can one generate $17,700 in passive income—or even more—despite constant market volatility?
Cloud mining： represented by platforms like SHRMiner, is rapidly gaining market attention. By providing rentable computing power services and earning mining rewards, it allows users to access the complete cloud mining process and earn passive BTC income without purchasing expensive equipment or specialized skills.
Recently, SHRMiner, a UK-based cloud mining platform, officially launched a new “free cloud mining service.” This service is designed for holders of mainstream cryptocurrencies such as BTC, XRP, DOGE, LTC, and EHT, providing users with a new opportunity to participate in cryptocurrency mining without any entry barriers.
How to earn passive income from BTC through SHEMiner cloud mining
Start earning returns in just three simple steps:
- Register an account
By visiting the official SHRMiner website, users can register for a free account in less than two minutes and receive a $15 sign-up bonus; this bonus allows them to quickly experience the platform’s services and earn a daily return of $0.60 from a complimentary trial contract.
- Select a cloud mining plan
Choose a cloud mining plan that suits your needs and budget. The platform offers flexible plans ranging from $100 to $200,000 to meet the investment goals of different users.
- Start earning returns
After purchasing a contract, earnings are automatically settled within 24 hours without requiring additional management or action; users can withdraw their earnings to their cryptocurrency wallet addresses at any time or reinvest the profits to benefit from the compounding effect.
The primary advantage of this model is that it significantly lowers the barrier to entry. Users do not need to research specific mining hardware models or hashrate configurations, nor do they need to set up their own system environments; simply by registering an account, depositing assets, and selecting a mining plan, they can start earning returns.
SHRMiner Platform Advantages:
- Supports daily automatic settlement
- No additional electricity or maintenance costs required
- Utilizes advanced ASIC mining hardware, powered by renewable energy sources including hydropower, wind power, and solar power
- Supports mining for multiple currencies: earn mainstream cryptocurrencies such as BTC, XRP, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
- Equipped with SSL encryption and DDoS protection, a real-time earnings dashboard for easy monitoring of mining performance
- 100% remote access, fully accessible via the SHRMiner application or browser without hardware requirements, and 24/7 online technical support.
⦁Affiliate Program: The Affiliate Program allows you to earn up to 4.5% commission by referring friends, with the opportunity to earn an additional bonus of up to 30,000.
Examples of common contracts:
| Contract Name | Price | Profit | Days | Principal + Total Return |
| New User Experience Agreement | $100 | $4 | 2 | $100+$8 |
| Bitdeer Sealminer A2 Pro | $500 | $6.25 | 5 | $500.00 + $31.25 |
| Litecoin Miner L9 | $1000.00 | $13.00 | 10 | $1000.00 + $130 |
| Bitcoin Miner S21 XP Imm | $5000.00 | $70.00 | 25 | $5000.00 + $1750 |
| Bitcoin Miner S21e XP Hyd | $10000.00 | $150.00 | 35 | $10000.00 + $5250 |
| ANTSPACE HW5 | $50000.00 | $900.00 | 45 | $50000.00 + $40500 |
After purchasing a contract, earnings will be automatically credited to your account within 24 hours. Upon contract expiration, your principal will be returned in full. You may withdraw the principal or reinvest it to benefit from compound returns; please click here for more details regarding the mining contract.
Unimaginable money-making opportunities
What sets SHRMiner apart is its extraordinary daily passive income; users have the opportunity to earn $10,700 or even more each day, turning the dream of online wealth into reality. Imagine generating substantial income without the need for ongoing investment or complex setups—that is exactly what SHRMiner offers.
Safety and Sustainability
In the mining sector, trust and security are paramount; SHRMiner fully recognizes this and prioritizes user safety above all else. Committed to transparency and legitimacy, SHRMiner ensures your investment is protected, allowing you to focus on profitability. All mining facilities utilize clean energy, making this a carbon-conscious cloud mining operation. Renewable energy protects the environment from pollution while providing a powerful energy source.
In short
If you are looking for ways to generate passive income, cloud mining is an excellent choice. When approached correctly, these opportunities allow you to effortlessly build cryptocurrency wealth on “autopilot” with minimal time investment. At the very least, they are far less time-consuming than any form of active trading. Passive income is the ultimate goal for every investor and trader, and with SHRMiner, maximizing your passive income potential is easier than ever.
To learn more about SHRMiner, please visit the official website: https://shrminer.com
Complete List Of The Top Crypto Platforms in Nigeria: Where to Trade Safely
As a Nigerian just getting started in crypto trading, or someone trying to rebuild their confidence after a bad trading experience, the fear of losing your hard-earned money is valid. This is why choosing a reliable crypto platform to carry out your trading is very important.
The good news here is that there are several trusted crypto platforms built to serve Nigerian traders, offering secure trading, fast withdrawals, and competitive fees.
In this guide, you will discover the top crypto platforms in Nigeria, what makes each one stand out, and how to choose the best option based on your trading goals.
Top 4 crypto platforms in Nigeria
NOSH
Nosh is one of the top platforms in Nigeria and Ghana with the best crypto trading services, offering the best rates for crypto trading, allowing you to get good value for your digital assets. With its user-friendly interface and 24/7 customer support, it is a very good option whether you are a new or experienced crypto trader.
With Nosh, you get:
- Instant payouts on every transaction, no unnecessary waiting.
- Advanced fraud protection with two-factor authentication to keep your account and transactions secure.
- Easy and direct conversion of crypto to Naira or Cedis within a few minutes; no need for third-party apps whenever you are ready to cash out.
- High exchange rates.
- Transparent rates with a rate calculator to know how much you will be getting.
Nosh supports a variety of cryptocurrencies such as Bitcoin, Dogecoin, USDC, USDT, Ethereum, Tron, Litecoin, and Binance Coin.
KUCOIN
KuCoin is another popular crypto platform known for its P2P (peer-to-peer) marketplace. With KuCoin, you can trade your crypto directly with a buyer or sell your crypto directly with a seller. KuCoin holds the crypto in escrow until the seller accepts that they have received the payment; this is done to avoid fraud from the buyer or seller of the crypto.
With KuCoin, you get:
- To carry out P2P trading with escrow protection.
- To use multiple payment method options like bank transfer, USSD, and mobile-money-linked options.
- Offers competitive and relatively low trading fees, especially if you’re holding KCS (KuCoin’s native token).
- Gives you access to spot trading, futures/derivatives, staking, and other earn products
KuCoin supports stablecoins such as USDT, USDC, and TUSD.
COINCOLA
Coincola is also a top platform ranked as one of the best P2P trading platforms for Nigerians. With Coincola, you get to buy and sell your Bitcoin and USDT with real-time price tracking. Coincola is your go-to platform if you need one that offers flexible funding options like cash deposit and bank transfers. However, there have been reports of withdrawal delays.
With Coincola, you get;
- A P2P marketplace to buy/sell Bitcoin and other coins directly from vendors, with their completed-trade counts shown upfront so u can trade with caution.
- Instant BTC conversion with real-time price tracking
- To use multiple local funding options like bank transfer, cash deposit, and gift cards
- An escrow system that holds your money until a trade is confirmed.
Coincola supports cryptocurrencies like USDT and TRON.
YELLOWCARD
Yellowcard is another popular crypto platform that offers not only P2P trading but also allows you to buy and sell assets like USDT, USDC, PYUSD, BTC, and ETH with regional payment options like mobile money, bank transfers, and cash deposit. However, in 2025 they announced they no longer offer crypto-to-cash retail services.
With Yellowcard, you get:
- Direct access to buy and sell crypto rather than waiting to match with individual P2P counterparties.
- To use multiple funding methods like bank transfer, mobile money, and cash deposits.
- Free local and cross-border transfers via “Yellow Pay” to 20 different countries in Africa.
Factors to consider when choosing a crypto platform
- Don’t just look at the advertised trading fee. Some platforms hide the extra cost, so your actual rate ends up higher than expected. Do a small test trade first and see what you actually receive.
- The best platform in the world is useless to you if it doesn’t support how you actually move money, whether it’s bank transfer or mobile money. Check that before you even sign up, not after.
- Some platforms convert instantly; others, especially P2P ones, need you to wait for a counterparty to show up. If you need your money fast, that difference matters a lot.
- If you specifically need USDC or another less-common stablecoin, don’t assume it’s there on the platform. Double-check the coin list before you commit to one.
- Support should not be silent when something goes wrong. Look for evidence people actually got helped, not just a “24/7 support” badge.
- If a platform can’t tell you clearly how they protect your money, that’s a red flag on its own. Always go for one that prioritizes security.
FAQs
- Which crypto platform is best in Nigeria?
The best crypto platform in Nigeria is Nosh. Nosh offers the best rates for selling crypto with direct crypto-to-naira conversion to easily change your crypto to cash when needed.
- Can I teach myself crypto trading?
Yes, you can. There are many platforms and tutors with tutorial videos and lessons on how to start crypto trading on your own.
- What is the most popular crypto in Nigeria?
The most traded cryptocurrency in Nigeria is Bitcoin, making it the most popular.
Conclusion
When you trust the right platform, your journey in crypto trading is safe and secure. Always look out for crypto trading platforms that meet your needs alongside keeping things like payment options, a good list of coins they support, and other factors mentioned in this article before committing to one.
Always start with a small test trade first to see what you are getting; it will help you get a better idea of how the platform works so you don’t fall victim to hidden charges not included in price tags by some platforms.
By Adedapo Adesanya
Okitipupa Plc was the sole price gainer at the NASD Over-the-Counter (OTC) Securities Exchange on Friday, August 7, lifting the trading platform by 0.44 per cent at the close of transactions.
The share price of the palm oil producer appreciated during the trading session by N25.00 or 9.0 per cent to N277.00 per unit compared with the previous day’s N252.00 per unit.
As a result, the market capitalisation gained N12.29 billion to close at N2,807 trillion, in contrast to the previous session’s N2.795 trillion, while the NASD Security Index (NSI) added 93.63 points to finish at 4,678.08 points compared with Thursday’s 4,657.59 points.
The bourse recorded a price loser yesterday, and this was Mass Telecoms Innovation Plc, which crashed by 3 Kobo or 9.4 per cent to settle at 32 Kobo per share versus the previous day’s 35 Kobo per share.
The volume of securities traded by investors plunged by 81.5 per cent to 535,7560 units from 2.9 million units, the value of securities slumped by 93.9 per cent to N6.0 million from N99.2 million, and the number of deals decreased by 41.9 per cent to 36 deals from 62 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units transacted for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 77.0 million units exchanged for N5.5 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, trailed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
