By Aduragbemi Omiyale

The Securities and Exchange Commission (SEC) has received a renewed backing of the Nigeria Police Force (NPF) to flush out criminals from the nation’s capital market.

At a meeting with the Director General of SEC, Mr Emomotimi Agama, the Inspector General of Police, Mr Kayode Egbetokun, agreed to forge an alliance against illegal scheme operators, investment frauds, and cryptocurrency frauds in a bid to protect the hard-earned savings and the financial dreams of the Nigerian people.

He assured the capital market regulator of the readiness of the security agency to strengthen partnership in all the ways possible to achieve a clean market.

“SEC is very crucial to the Nigerian economy, and with our supervision and support from the government, we will ensure economic recovery and growth. If the police unit in SEC is strengthened, it is going to make so much impact in your enforcement drive. What you said speaks so much to your determination to ensuring effective drive in the capital market and when we are able to achieve effective enforcement, it comes with so many benefits,” the police chief said, approving the collaboration between SEC and the Cyber Security Centre of the NPF.

Earlier at the meeting on Wednesday in Abuja, Mr Agama informed Mr Egbetokun that his organisation has the mandate to protect investors, maintain fair, efficient, and transparent markets, and promote the growth of a vibrant economy built on trust, which are done by setting rules, licensing operators and market surveillance.

He, however, stated that the commission faces adversaries who operate in the shadows, outside regulated gates by exploiting the trust of people and promising miraculous returns such as 200 per cent in 30 days.

“They cloak their deceit in the glamorous but misunderstood language of cryptocurrency and forex trading. They target the vulnerable, the optimistic, and the simply unsuspecting, leaving behind a trail of shattered lives, depleted pensions, and broken trust. This is not just a financial crime; it is a social menace that erodes public confidence in our entire financial system.

“This is where our authority, as the SEC, meets its necessary complement: your power, your reach, and your mandate. The Nigeria Police Force is the primary law enforcement agency with the national presence, the investigative muscle, and the constitutional authority to track, apprehend, and bring these criminals to justice. Where we identify the illegality and the regulatory breach, you possess the apparatus for criminal investigation, arrest, and prosecution.

“Currently, there is a gap, a seam between identification and enforcement that these scammers exploit. Today, we aim to close that gap permanently. Therefore, we propose a robust, institutionalized collaboration with the following pillars: joint intelligence and operations task force: capacity building and knowledge transfer; streamlined processes for enforcement and national public awareness campaign,” he stated.

The SEC DG advocated the establishment of a dedicated SEC-NPF team that combines market intelligence, forensic accounting, and understanding of complex financial schemes with investigative and intelligence-gathering capabilities. This team will be the rapid-response unit to new frauds.

Mr Agama also sought the permission of the IGP to go into a Memorandum of Understanding with the Cyber Security Unit of the Police Force in a bid to ensure the cyber space is safe for all Nigerians

“Mr Inspector General, the fight against financial crime is a fight for the soul of our economy. It is a fight for the widow who has lost her savings, the youth lured by fake crypto promises, and the retiree seeking a safe return. The SEC cannot win this fight alone. The Police should not have to decipher these complex schemes without specialist support. Together, however, we form an impenetrable shield.

“Let this meeting be remembered as the day the two guardians of Nigeria’s safety the safety of our streets and the safety of our savings joined hands. Let us send a clear, unequivocal message to every scammer, from the dusty streets to the dark web: Your time is up. Nigeria’s investors are now under our combined protection. We are ready to work with you. We look forward to your guidance and partnership,” he added.

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Wednesday, January 14, with the key performance indicators like the market capitalisation and the NASD Unlisted Security Index (NSI) remaining unchanged at N2.2 trillion and 3,678.13 points, respectively.

This happened despite the alternative stock market recording three price gainers led by Nipco Plc, which appreciated by N21.42 to sell at N235.90 per share compared with the N214.48 per share achieved a day earlier.

Further, Central Securities Clearing System (CSCS) Plc improved its value by 84 Kobo to close at N40.97 per unit versus N40.13 per unit, and IPWA Plc expanded by 12 Kobo to finish at N1.35 per share, in contrast to Tuesday’s price of N1.23 per share.

During the trading session, the price of Food Concepts Plc went down by 31 Kobo to end at N3.06 per unit compare with the preceding day’s N3.37 per unit.

Yesterday, there was a 71.6 per cent drop in the value of transactions to N24.4 million from the N86.1 million recorded in the previous day, same as the volume of transactions, which shrank by 60.3 per cent to 645,002 units from the 1.6 million units posted in the previous day, as the number of deals depreciated by 71.6 per cent to 19 deals from 67 deals.

When the market closed for the day, CSCS Plc remained the most traded stock by value on a year-to-date basis with the sale of 2.6 million units for N102.5 million, followed by MRS Oil Plc with a turnover of 265,748 units valued at N53.1 million, and Geo-Fluids Plc with 6.4 million units worth N43.4 million.

Geo-Fluids Plc ended the day as the most active stock by volume on a year-to-date basis with 6.4 million units traded for N43.4 million, trailed by Industrial and General Insurance (IGI) Plc with a turnover of 3.1 million units valued at N1.9 million, and CSCS Plc with 2.6 million units sold for N102.5 million.

By Adedapo Adesanya

The Naira crashed against the United States Dollar on Wednesday, January 14 by 38 Kobo or 0.03 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEM) to N1,420.04/$1, in contrast to the N1,419.66/$1 it was traded a day earlier.

Despite the decline in the daily value of the Naira against the greenback in the official FX market, the near-term projection indicate that with continued support by the Central Bank of Nigeria (CBN), stronger external inflows from foreign portfolio investors (FPIs), and improving current account dynamics, the local currency will remain within projected range.

The country’s external reserves continued to swell as it added $40.26 million to the previous day’s balance, bringing total reserves to $45.78 billion.

Data showed that the domestic currency firmed up against the Pound Sterling in the spot market by N2.89 to trade at N1,911.09/£1 versus Tuesday’s closing rate of N1,913.98/£1 and gained N1.11 against the Euro to finish at N1,655.48/€1 compared with the previous day’s value of N1,656.59/€1.

At the GTBank forex desk, the Nigerian currency gained N4 on the US Dollar to sell for N1,427/$1, in contrast to the preceding session’s N1,431/$1 but closed flat at the black market at N1,490/$1.

A look at the cryptocurrency market showed that most of the tracked tokens were under pressure as broader financial markets turned cautious of the US-Iran rhetoric, which affect risk assets like crypto.

US President Donald Trump signaled he may delay military action against Iran, easing immediate geopolitical tensions.

With upcoming U.S. economic data unlikely to shift expectations for a Federal Reserve rate cut before midyear, traders are watching whether crypto can hold positive positions despite softer equity markets.

During the trading day, Litecoin (LTC) declined by 4.9 per cent to $74.70, Cardano (ADA) slumped by 4.3 per cent to $0.4024, Dogecoin (DOGE) went down by 2.6 per cent to $0.1433, Ripple (XRP) slipped by 2.0 per cent to $2.09, Ethereum (ETH) shrank by 0.13 per cent to $3,319.40, and Binance Coin (BNB) depreciated by 0.05 per cent to $936.13.

On the gainers’ angle, Bitcoin (BTC) led with an appreciation of 2.9 per cent to sell at $96,474.70, and Solana (SOL) grew by 0.3 per cent to $144.49, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.