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Tinubu’s Reforms, SEC’s IFRS 9 Transition Set To Transform Nigeria’s Financial Future
According to Nivo News, Nigeria has fixed September 2027 as the deadline to fully implement the International Financial Reporting Standards (IFRS) 9, which mandates market-to-market valuation of all assets, particularly in the fixed-income segment of the capital market.....KINDLY READ THE FULL STORY HERE▶
The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, disclosed the plan over the weekend, outlining the roadmap for the transition. He explained that the commission had engaged extensively with market participants before setting the framework, stressing that the October 2, 2025, deadline for submission of implementation plans will help the SEC assess the readiness of financial institutions ahead of the 2027 transition.
Agama emphasized that the timelines were carefully designed to balance regulatory demands with market realities. He noted that the aim of requesting detailed implementation plans was not bureaucracy but a way to measure capacity, identify challenges, and ensure compliance with international standards.
While equity funds already operate under fair value reporting, he highlighted that the major gap has been within the fixed-income fund management space. The transition, he said, will align Nigeria with global financial practices, enabling investors to assess the nation’s market performance against international benchmarks.
Addressing concerns about potential volatility, Agama insisted that the move would ultimately strengthen the market by enhancing transparency and credibility, rather than destabilizing it. He reiterated that the reform would ensure Nigerian assets remain globally comparable and competitive.
Beyond IFRS 9, the SEC boss disclosed that Nigeria is also taking the lead in Africa in implementing the International Sustainability Standards Board (ISSB) framework, aimed at climate and sustainability disclosures. He described Nigeria’s early adoption of the standards as proof of its commitment to global best practices, though he assured that the rollout would be gradual to avoid burdening local companies.
Agama further noted that the reforms are aligned with the federal government’s macroeconomic agenda under President Bola Ahmed Tinubu, which is already yielding stability and boosting investor confidence. He identified the NIIRA 2025 and ISA 2025 as pivotal legislative reforms shaping the capital market for sustainable expansion.
He concluded that the SEC’s ongoing reforms—particularly the IFRS 9 transition and ISSB adoption—will position Nigeria’s capital market as a global reference point for transparency, accountability, and growth, thereby attracting capital inflows and promoting wealth distribution through a stronger financial system.
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Isaac Fayose Sends Fresh Message To Sowore After Ekiti Attack, Urges Him To Join Peter Obi
Isaac Fayose, younger brother of former Ekiti State Governor Ayo Fayose, has called on African Action Congress (AAC) presidential candidate Omoyele Sowore to join forces with Peter Obi and other opposition leaders ahead of the 2027 general election.....KINDLY READ THE FULL STORY HERE▶
Fayose argued that Sowore could not effectively challenge the government on his own, urging opposition figures to set aside their political differences and work together.
He made the appeal while reacting to the attack on Sowore in Ado-Ekiti, Ekiti State.
In a video posted on his verified Facebook page on Friday, Fayose condemned the incident and warned that it highlighted the risks opposition figures could face in the country.
The social media critic said other opposition leaders could experience similar attacks if they failed to unite against the government.
“Sowore, you can’t fight alone. You need to unite with Peter Obi and other opposition figures. What happened to you in Ekiti can happen to anyone. This government does not want opposition,” Fayose said.
The businessman also urged security agencies to identify and arrest those responsible for the attack, insisting that they must face justice.
Recall that Sowore had accused the Ekiti State Police Command and the Department of State Services (DSS) of removing CCTV footage showing the attack on him in Ado-Ekiti.
The AAC presidential candidate alleged that the removal of the footage was an attempt to conceal evidence of the incident and shield those responsible.
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‘Voice Of Jacob, Hand Of Esau’ – Reuben Abati Raises Alarm Over Speculations In Uzodinma’s Court Case
Former presidential aide, Reuben Abati, has questioned whether the circumstances surrounding the court judgment that nullified Imo State Governor Hope Uzodimma’s candidacy for the Imo West Senatorial District election reflected what some have described as the “voice of Jacob and the hand of Esau”.....KINDLY READ THE FULL STORY HERE▶
Speaking on Arise Television’s Morning Show on Friday, Abati examined the controversy surrounding the ruling and warned against making unsubstantiated claims about possible external influence on the judiciary.
The former presidential aide stressed that the legal battle was not yet over, pointing to the Imo State chapter of the All Progressives Congress (APC), which rejected the judgment and indicated its intention to challenge the decision at the Court of Appeal.
Abati explained that the Imo APC had raised constitutional concerns relating to Section 285, particularly the provision stipulating that pre-election cases must be instituted within 14 days.
According to him, the party argued that Senator Rochas Okorocha, who challenged Uzodimma’s candidacy, failed to file the case within the constitutionally prescribed period.
He noted that the Court of Appeal would have the opportunity to review issues surrounding the procedure, timing, technicalities and evidence presented before the lower court.
Abati maintained that the legal questions raised by the Imo APC should be resolved through the appellate process rather than through speculation about the circumstances surrounding the judgment.
He said, “So the matter is not ended yet. They will go to the Appeal Court, and then, the Appeal Court will be able to look at the issues either about procedure, about timing, about technicality, about evidence, how evidence was filed, and whether the procedure should have been originating summons or another thing.
“That’s the purpose of an Appeal Court.
“Finally on that subject is the fact this is the voice of Jacob and the hand Esau, without putting on the table the implications of that caveat, because I’ve seen some people saying there are questions to be raised about some people having powers over the judiciary. But we cannot speculate in that regard.”
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Pat Utomi Drops Details Of Peter Obi’s Strategy To Bring Down Food Prices.
A chieftain of the Nigeria Democratic Congress (NDC), Pat Utomi, has said the party’s presidential candidate, Peter Obi, plans to strengthen the naira to ₦500 against the US dollar if elected president.....KINDLY READ THE FULL STORY HERE▶
As of Friday, the naira traded at ₦1,346.86 per dollar on the official Nigerian Foreign Exchange Market (NFEM), while the dollar exchanged for approximately ₦1,385 in the parallel market.
In a post on X, Utomi explained that strengthening the naira from about ₦1,350 to ₦500 per dollar would help tackle inflation, reduce poverty and improve Nigerians’ purchasing power.
He described the proposed exchange rate as a key component of Obi’s economic agenda ahead of the 2027 presidential election.
Utomi projected that the price of a loaf of sliced bread could fall from ₦1,750 to ₦800, while a 50kg bag of imported rice could drop from ₦55,000 to ₦27,500.
He further estimated that a medium-sized tuber of yam could decline from ₦2,400 to ₦1,200, while a 50kg bag of maize could reduce from ₦75,000 to ₦37,500.
According to him, the price of a bunch of plantain could also fall from ₦2,500 to ₦1,250, while a whole chicken could become cheaper, dropping from ₦7,000 to ₦3,500.
The NDC chieftain also listed petrol and cement among the commodities expected to become more affordable under the proposed economic programme.
Utomi said the party was convinced that targeting a strategic appreciation of the exchange rate by strengthening the naira from ₦1,350 to ₦500 per dollar would be a winning strategy.
“We are convinced that targeting a strategic appreciation of the exchange rate by reasonably strengthening it from ₦1,350/$ to ₦500/$ as part of our manifesto is a winning strategy.
“It offers a direct, multi-faceted approach to curbing inflation, reducing poverty, and lowering the cost of living,” he said.
He added that the proposal reflects the party’s commitment to improving the living conditions of Nigerians, particularly those affected by multidimensional poverty.
“It clearly demonstrates our concrete plan to uplift the 140 million Nigerians currently experiencing multi-dimensional poverty,” he said.
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