Economy
Tribunal Slams N5m Fine on Four Stockbrokers
By Dipo Olowookere
Four stockbroking firms have been ordered to pay the sum of N5 million as fine for engaging in illegal transactions.
The four stockbrokers are Gosord Securities Limited, UIDC Securities Limited, Kapital Care Trust Securities Limited and Union Registrars Limited.
They were found guilty of unlawfully selling shares belonging to an investor worth millions of Naira.
The matter was brought before the Enugu arm of the Investment and Securities Tribunal (IST) by the affected investor, Mr Okam Kalu Ugwu.
He joined the Securities and Exchange Commission (SEC), the apex capital market regulator, and the four firms in the suit.
Chairman of the tribunal, Mr Nosa Smart Osemwengie, while ruling on the case, ordered that all irregular transactions in the Union Bank shares variously numbering 9,740 units, 20,740 units, 13,333, units, 9, 740 units, 25,000 units, 16,000, and 12,986 units contained in different share certificates were illegal, unlawful, null and void.
The Tribunal also ordered that the 16,876 units, 5,000 units, 850 units and 2,813 units of Union Bank shares purportedly covered by four other certificates be expunged from the claim, having not been established by credible evidence.
Furthermore, the IST reached the verdict that Union Registrars Limited, UIDC Securities Limited and Gosord Securities Limited are to restore and restitute the claimant with 549,453 Union Bank shares and all bonuses and dividends in line with capital market rules, practice and procedures not later than 30 days from the date of the judgment.
According to a statement issued by the acting Director, Corporate Affairs at the IST, Mr Kenneth Ezea, Union Registrars Limited was equally ordered to restore the name of the claimant, Dr Okam Kalu Ugwu, in the register of shareholders of Union Bank Plc as relate to the disputed shares in line with capital market rules, practices and procedures not later than 30 days from the date of the judgment.
Also, all irregular transactions in the claimant’s Guinness Plc shares covered by certificate number 22279776 were also declared illegal, null and void and Union Registrars Limited (2nd Defendant) and UIDC Securities Limited (3rd Defendants) were ordered to restore and restitute the claimant with 2,083 units of Guinness Nigeria Plc with accrued bonuses and dividends, unlawfully verified, transferred and sold to third parties through their platforms not later than 30 days from the date of the judgment while Union Registrars (2nd Defendant) is to restore the name of the Claimant in the register of shareholders of Guinness Nigeria Plc.
Kapital Care Trust Securities Limited being the 5th Defendant was ordered to restore and restitute the claimant with the 72,151units of Union Bank shares and accrued bonuses and dividends it unlawfully dealt with in line with Capital Market Rules, Practice and Procedures not later than 30 days from the date of the judgment and as well fined N100,000 to be paid into the coffers of the Federal Government of Nigeria for breach of professional ethics in dealing with shares of the claimant.
In addition, the sum of N5 million was awarded as general damages against the Union Registrar Ltd, UIDC Securities Limited and Gosord Securities Ltd jointly and severally in favour of the claimant.
Restating the account of the case, Mr Osemwengie said the action was commenced by way of Originating Application filed by the claimant, Dr Okam Kalu Ugwu, a Medical Doctor, who claimed that he had over a total of 549,453 units of Union Bank shares at all material time to the commencement of the action.
He alleged that a total of 133,078 units of the shares were unlawfully verified, dematerialized and transferred to 3rd parties by some of the defendants without his authority, consent and knowledge.
The claimant alleged further that the Union Registrars Ltd joggled its shareholding such that another 416,375 units of his Union Bank shares cannot be accounted for.
He alleged further that his 2,083 units of Guinness Plc shares were also unlawfully verified, dematerialised and transferred to 3rd parties through the 2nd Defendant, Union Registrars, without his authority, consent and knowledge.
Dr Ugwu informed the court that all his share certificates were kept in his residence at Federal Medical Centre, Umuahia, Abia State and that sometime on the July 30, 2007, he received a caution notice from First Registrars that some of his shares had been provided for verification.
Alarmed that he did not give any instruction on his shares, he raced to where he kept his share certificates only to discover that they had disappeared.
The claimant contended that Union Registrars did not respond to the letter written to it, rather it went ahead and dealt with the claimant’s shares.
As a follow up to the letter already sent to the 2nd Defendant, the claimant, on December 4, 2007, went to the office of the 2nd defendant to demand for details on his shareholding account. The claimant said he met one Mr Akeem who told him to produce copies of the share certificates and dividend warrant stumps to help in reconciling his account. This, the claimant said he supplied to Mr Akeem.
On December 16, 2007, the claimant wrote another letter to the 2nd defendant reiterating his previous demands for details on his accounts, but no response was given. He decided to write a letter dated April 6, 2009 asking the 2nd defendant to place a caveat on his shares.
However, the claimant was surprised to receive a letter from the 2nd defendant in December 2009 purported to have been written to him since December 30, 2008. Enclosed in the letter were purported statement of account of the shareholding with Union Bank of Nigeria Plc dated January 26, 2009 containing 71, 311 units of shares, purported dividend report and CSCS transaction on his share accounts.
The defendants even traced the theft of the share certificates to an in-law of the claimant who was a stockbroker but finding no merits in their defence the tribunal blamed them for failure to exercise caution and apply the standard know your customer precautions even when duly forewarned. They were restrained from further dealing unlawfully with the claimant’s shares.
SEC, being the 1st defendant, was exonerated from liability “From the totality of evidence before us, we do not think the 1st defendant has breached his statutory role as apex regulatory body. We therefore hold that the 1st defendant has performed its duties reasonably well.”
But SEC was directed, under its regulatory powers, to supervise, monitor and ensure compliance by the 2nd, 3rd, 4th and 5th defendants to the orders of the tribunal not later than 30 days from the date of this judgment.
SEC is also to ensure that shares restored and restituted to claimant are moved to the stockbroker company of his choice.
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.
