Economy
SEC to Enlighten Investors on ‘Investing in Difficult Times’
By Modupe Gbadeyanka
Efforts are being made by the Securities and Exchange Commission (SEC) to educate investors in the Nigerian capital market to understand the rudiments of investing in difficult times.
On Tuesday, August 18, 2020, the commission will hold a webinar, where experts in the sector will dissect this topic and explain ways investors can make a profit in this present situation.
It is no news that since the beginning of the year, the global COVID-19 pandemic has affected many businesses as well as economies of the world.
The effect of the virus, which is yet to wrap, caused economies of the United Kingdom, France and others to slip into recession and recently, Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, warned that the country may fall into an economic crisis soon.
As things continue to get harder and the purchasing power of citizens further shrinks, it may be tough for capital market investors, who are battling with a double war of rising inflation rate and the declining interest rate on their investments, especially on government debt securities.
To help investors navigate these issues, the apex capital market regulator has come with this online lecture, which starts by 11am Nigerian time.
Speakers for the event are Mrs Tope Omojokun, Mr Derrick Msibi and Mr Efiok Efiok.
Mrs Tope Omojokun has over 17 years’ experience across Commercial and Corporate Banking, Wealth and Investment Management.
She has worked with Access Bank Plc. (formerly Intercontinental Bank Plc.) and later joined E.oN (UK) Limited as a Credit Specialist before proceeding to Asset and Resource Management Company Limited (ARM), where she was a Relationship Manager with the Wealth Management division before joining Investment One Funds Management Limited.
She holds a Bachelor’s Degree in Economics from the Obafemi Awolowo University, Ile-Ife, an MA (Management) from the University of Nottingham and is currently pursuing a Doctoral degree (Ph. D) in Business Administration (Entrepreneurship) at Babcock University. Tope currently serves as President of Fund Managers Association of Nigeria.
On his part, Mr Derrick Msibi is the Chief Executive of STANLIB Asset Management, the investment arm of the Liberty Group, an insurance company listed on the Johannesburg Stock Exchange and a part of the Standard Bank Group.
STANLIB is a steward of R569 billion of customer investments in various investment strategies straddling listed and alternative investments.
Mr Msibi is a chartered accountant with degrees in finance and accounting at both bachelors, honours and masters level from the University of Cape Town. He is a holder of the Program for Management Development Certificate from Harvard Business School and a Certificate of Management (a corporate-customised programme) from London Business School.
For Mr Efiok Efiok, who joined the SEC in 2002, he holds a degree in Business Management and is an associate of the Chartered Institute of Stockbrokers (CIS), Nigeria. H
e worked from 2002 to 2008 in the Collective Investment Services Department (now Investment Management Services Department, the Department responsible for the regulatory authorization and supervision of all forms of Collective Investment Schemes products.
He moved to the Monitoring and Investigation Department, 2008 – 2013, as part of the team undertaking continuous supervision of operations and operational capacity of all registered Capital Market Operators with respect to their registered market functions.
From 2014 to 2016, Mr Efiok served as Head of Fund Management Supervision Division, responsible for continuous supervision of Market intermediaries undertaking Asset management activities and subsequently became the Head of Investment Management Department from 2016 – till date.
By Adedapo Adesanya
The United Kingdom via the British High Commission in Abuja has launched two flagship economic reform programmes – the Nigeria Economic Stability & Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF) -as part of efforts to support Nigeria’s economic reform and growth agenda.
Backed by a £12.4 million UK investment, NEST and NPFF sit at the centre of the UK-Nigeria mutual growth partnership and support Nigeria’s efforts to strengthen macroeconomic stability, improve fiscal resilience, and create a more competitive environment for investment and private-sector growth.
Speaking at the launch, Cynthia Rowe, Head of Development Cooperation at the British High Commission in Abuja, said, “These two programmes sit at the heart of our economic development cooperation with Nigeria. They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth.”
The launch followed the inaugural meeting of the Joint UK-Nigeria Steering Committee, which endorsed the approach of both programmes and confirmed strong alignment between the UK and Nigeria on priority areas for delivery.
Representing the Government of Nigeria, Special Adviser to the President of Nigeria on Finance and the Economy, Mrs Sanyade Okoli, welcomed the collaboration, touting it as crucial to current, critical reforms.
“We welcome the United Kingdom’s support through these new programmes as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity. At a time when we are implementing critical reforms to strengthen fiscal resilience, improve macroeconomic stability, and unlock inclusive growth, this partnership will provide valuable technical support. Together, we are laying the foundation for a more resilient economy that delivers sustainable development and improved livelihoods for all Nigerians.”
On his part, Mr Jonny Baxter, British Deputy High Commissioner in Lagos, highlighted the significance of the programmes within the wider UK-Nigeria mutual growth partnership.
“NEST and NPFF are central to our shared approach to strengthening the foundations that underpin long-term economic prosperity. They sit firmly within the UK-Nigeria mutual growth partnership.”
By Aduragbemi Omiyale
A strategic partnership aimed at accelerating the growth, digital capacity, and sustainability of Nigeria’s 40 million Micro, Small and Medium Enterprises (MSMEs) has been signed by MTN Nigeria and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The collaboration will feature joint initiatives focused on digital inclusion, financial access, capacity building, and providing verified information for MSMEs.
With millions of small businesses depending on accurate guidance and easy-to-access support, MTN and SMEDAN say their shared platform will address gaps in communication, misinformation, and access to opportunities.
At the formal signing of the Memorandum of Understanding (MoU) on Thursday, November 27, 2025, in Lagos, the stage was set for the immediate roll-out of tools, content, and resources that will support MSMEs nationwide.
The chief operating officer of MTN Nigeria, Mr Ayham Moussa, reiterated the company’s commitment to supporting Nigeria’s economic development, stating that MSMEs are the lifeline of Nigeria’s economy.
“SMEs are the backbone of the economy and the backbone of employment in Nigeria. We are delighted to power SMEDAN’s platform and provide tools that help MSMEs reach customers, obtain funding, and access wider markets. This collaboration serves both our business and social development objectives,” he stated.
Also, the Chief Enterprise Business Officer of MTN Nigeria, Ms Lynda Saint-Nwafor, described the MoU as a tool to “meet SMEs at the point of their needs,” noting that nano, micro, small, and medium businesses each require different resources to scale.
“Some SMEs need guidance, some need resources; others need opportunities or workforce support. This platform allows them to access whatever they need. We are committed to identifying opportunities across financial inclusion, digital inclusion, and capacity building that help SMEs to scale,” she noted.
Also commenting, the Director General of SMEDAN, Mr Charles Odii, emphasised the significance of the collaboration, noting that the agency cannot meet its mandate without leveraging technology and private-sector expertise.
“We have approximately 40 million MSMEs in Nigeria, and only about 400 SMEDAN staff. We cannot fulfil our mandate without technology, data, and strong partners.
“MTN already has the infrastructure and tools to support MSMEs from payments to identity, hosting, learning, and more. With this partnership, we are confident we can achieve in a short time what would have taken years,” he disclosed.
Mr Odii highlighted that the SMEDAN-MTN collaboration would support businesses across their growth needs, guided by their four-point GROW model – Guidance, Resources, Opportunities, and Workforce Development.
He added that SMEDAN has already created over 100,000 jobs within its two-year administration and expects the partnership to significantly boost job creation, business expansion, and nationwide enterprise modernisation.
By Adedapo Adesanya
The Nigerian Exchange (NGX) Limited is seeking review of the controversial Capital Gains Tax increase, fearing it will chase away foreign investors from the country’s capital market.
Nigeria’s new tax regime, which takes effect from January 1, 2026, represents one of the most significant changes to Nigeria’s tax system in recent years.
Under the new rules, the flat 10 per cent Capital Gains Tax rate has been replaced by progressive income tax rates ranging from zero to 30 per cent, depending on an investor’s overall income or profit level while large corporate investors will see the top rate reduced to 25 per cent as part of a wider corporate tax reform.
The chief executive of NGX, Mr Jude Chiemeka, said in a Bloomberg interview in Kigali, Rwanda that there should be a “removal of the capital gains tax completely, or perhaps deferring it for five years.”
According to him, Nigeria, having a higher Capital Gains Tax, will make investors redirect asset allocation to frontier markets and “countries that have less tax.”
“From a capital flow perspective, we should be concerned because all these international portfolio managers that invest across frontier markets will certainly go to where the cost of investing is not so burdensome,” the CEO said, as per Bloomberg. “That is really the angle one will look at it from.”
Meanwhile, the policy has been defended by the chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, who noted that the new tax will make investing in the capital market more attractive by reducing risks, promoting fairness, and simplifying compliance.
He noted that the framework allows investors to deduct legitimate costs such as brokerage fees, regulatory charges, realised capital losses, margin interest, and foreign exchange losses directly tied to investments, thereby ensuring that they are not taxed when operating at a loss.
Mr Oyedele also said the reforms introduced a more inclusive approach to taxation by exempting several categories of investors and transactions.
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