
News
FG cracks down on illegal crypto traders
The Securities and Exchange Commission (SEC), Monday, vowed to act decisively to uphold the integrity of the capital market and protect the interests of all investors.
It said this Is aimed at ridding the virtual assets space of illegal trading activities.
Daily Trust reports that the activities of speculators in the digital marketing space had a few weeks ago exerted serious pressure on the naira, at a time the federal government and the Central Bank of Nigeria (CBN) were trying to address its downward slide occasioned by inflation that affected prices of goods and services in the country.
Acting Director General of the SEC, Dr Emomotimi Agama, who spoke during a virtual meeting with the Blockchain Industry Coordinating Committee of Nigeria (BICCoN), the umbrella body of all major blockchain and cryptocurrency associations in Nigeria, said tough decisions must be taken to stabilise the economy.
The meeting was coming amidst the tightening of the noose on crypto exchanges in the country.

Our correspondent reports that the federal government had earlier in January blocked crypto users in Nigeria from accessing the platforms of key operators like Binance, and OctaFX, among others, even as SEC earlier proposed an increase in registration fees from N30m to N150m.
The crypto market in Nigeria is estimated at over $57bn, even as the clampdown by the CBN recently was linked to the negative impact it was having on the foreign exchange market, prompting Binance to shut down its services in Nigeria.
The CBN further warned fintech companies in Nigeria against onboarding new customers as part of measures to prevent any illegal trading activities on their platforms.
We’ll unleash our powers
As a follow-up to the ongoing noose-tightening measures, SEC Nigeria yesterday reiterated that it will not hesitate to use all the powers within its mandate to handle issues that are negative and pose a threat to the national interest.
Agama stated that the Commission had come as a partner to seek collaboration in making sure that the capital market community is one that is respected globally for decency and fair play.
The SEC boss said recent concerns regarding crypto P2P traders and their perceived impact on the exchange rate of the naira underscored the need for collective action and dialogue within the financial market ecosystem.
‘Delisting naira from P2P best option’
Agama stated that one of the things that needed to be done is delisting the naira from the Peer-to-Peer (P2P) space in order to avoid the level of manipulation that is currently happening, warning participants in the crypto space to be patriotic enough to name and shame those that are involved in disrupting the markets negatively.
“I want to seek your cooperation in dealing with this as we roll out in the coming days the regulations that would take control of these areas. We want to assure that this management will ensure that people or institutions that require registration with the SEC are quickly licensed. We assure you that we will give guidance when necessary and do well to streamline the processes to make it less difficult.
The SEC DG said the federal government expects players in the crypto space to play by the rules as enshrined in the Investments and Securities Act 2007.
“Some may say there are no rules to play by, but do not forget that we have the Investments and Securities Act 2007, which some actions by participants today may be violating, hence the law is the law irrespective of the technology used.
“However, for the specific digital asset regulatory regime that many have been calling for, we want to assure you that we are working tirelessly to establish an accommodating regulatory guideline for digital assets. The SEC as your regulator is desirous to work with you by providing a level of assurance that is needed by all that are operating within the rules of the market,” he said.
The DG stated that the proposed regulatory guidelines being fine-tuned with suggestions by various stakeholders will encompass various activities within the cryptocurrency ecosystem ranging from wallet providers, digital asset custodians and fund managers, Cryptocurrency Crowdfunding, Initial Coin Offerings (ICOs), Security Token Offerings (STOs), Initial Exchange Offerings (IEOs), Cryptocurrency Exchange platform providers, Virtual Asset brokerage services, etc., ensuring that every Nigerian playing within the industry with the potential to contribute to economic progress is included, supported and properly regulated.
“I am poised for an innovative digital asset regulatory regime that will sustain Nigeria as Africa’s digital asset powerhouse with diverse solutions like Real World Asset Tokenisation (RWA) that will drive wealth and catalyse our capital market. We must explore innovative solutions to this problem and strike the right balance between encouraging innovation and safeguarding our national economic interests. This we will do in a friendly and firm manner, to enable us to achieve the desired result.
“We have a great market ahead of us and we have the talents and the people to make the market great. Mr. President is concerned about the teeming youths involved in this space and would encourage them to do the right thing and develop an ecosystem that we all will be proud of. It becomes necessary that we do what is right. Manipulations and all forms of activities that undermine our national interest would not be acceptable. It is therefore very important that we know that the SEC by virtue of Section 13 of the ISA speaks to the regulation of all capital market activities.”
Agama commended the leadership of the Blockchain Industry Coordinating Committee of Nigeria (Biccon) the umbrella body of all major blockchain and cryptocurrency Associations in Nigeria, and assured them of the commission’s readiness to work closely with all stakeholders in the cryptocurrency ecosystem to create a better country for all of us.
“With our deep understanding of this industry and the cryptocurrency sub-sector, we recognise the importance of collaboration and cooperation in addressing the challenges we face; hence your insights and suggestions are invaluable as we seek to navigate these complexities together. We need your support as much as you need ours.
“On that note, I want to emphasise that we are working on different fronts to sustain decent practices within our market. However, we are here to meet ourselves to know those playing within the sector decently and are open to hearing your suggestions on how we can effectively manage all obscure cryptocurrency trading activities within our jurisdiction p2p inclusive irrespective of the challenge we all know that p2p trading poses.”
We’ll key into the process
Chairman of the Fintech Association of Nigeria, Dr Babatunde Oghenobruche Obrimah, commended the SEC for its bold steps and the relationship with the ecosystem and pledged their commitment to the success of the initiative. (Daily Trust)
News
Bauchi Agency CEO, 4 children die in road accident
Alhaji Ibrahim Ladan Duguri, the Executive Secretary of the Bauchi State Health Contributory Management Agency (BASHCMA), has lost his life alongside those of four of his children in an accident at Yalwan Duguri in Alkaleri Local Government Area of the State.
Governor Bala Mohammed, who confirmed the tragedy, expressed profound sorrow and deep grief.
The governor described the death of Alhaji Ibrahim Ladan Duguri as a monumental loss to Bauchi, particularly the health sector, “where he distinguished himself through dedication, commitment, and an unwavering passion for improving access to healthcare services for the people”.
In his condolence message signed by his Special Adviser on Media and Publicity, Mukhtar Gidado, the governor equally saddened by the tragic circumstances surrounding the incident and extends his heartfelt sympathy to the immediate family of the deceased, the Duguri Emirate Council, friends, associates, colleagues, and the entire people of Bauchi over the loss.
He also prayed for the full recovery, strength, and comfort of Suleiman, one the deceased’s son who reportedly survived the accident .

Mohammed said, “As Executive Secretary of BASHCMA, the deceased played an important role in advancing the state’s health contributory management system and supporting efforts to make healthcare more accessible to the people, especially the less privileged. His dedication was also evident in his contributions to the state’s medical team during pilgrimage exercises in the Kingdom of Saudi Arabia, where his commitment to the health and well-being of pilgrims was widely valued.
“Beyond his professional accomplishments, Alhaji Ibrahim Ladan Duguri was a close personal friend, and classmate of Governor Bala Mohammed. His death, therefore, represents not only the loss of a valued public servant but also the painful departure of a beloved family member and trusted companion whose life was marked by service, loyalty, and dedication to humanity.”
He acknowledged that no words can adequately express the pain and anguish of the bereaved family at this difficult moment.
Mohammed prayed that Almighty Allah, in His infinite Mercy, would forgive the shortcomings of the deceased, accept their good deeds, and grant Alhaji Ibrahim Ladan Duguri and his beloved children eternal rest in Aljannatul Firdaus.
The governor called on all well-meaning citizens of Bauchi to remember the bereaved family in their prayers and to offer them the necessary compassion, and solidarity during this moment of profound grief.
The funeral prayer for the deceased will be conducted at the palace of the District Head of Yalwan Duguri by 11:00am, on Sunday.
News
Catholic priest dies as crucifix falls on him during Mass
A Catholic priest has died after a crucifix fell on him while he was celebrating Mass in Guayaquil, Ecuador.
The priest, identified as Father Patricio Alfredo Sánchez Molinari, was conducting the service on Saturday when the incident occurred.
The ceremony was being streamed live, with footage of the incident later circulating widely on social media.
Videos showed Molinari addressing worshippers inside the church before the crucifix fell on him, disrupting the religious service.
The Archdiocese of Guayaquil confirmed the priest’s death in a statement published on its social media platforms on Sunday.

The archdiocese said Molinari served as parish priest of Our Lady of Perpetual Help Church in the Central Vicariate.
“We announce that our beloved Fr. Patricio Alfredo Sánchez Molinari, CSsR., who served as parish priest of Our Lady of Perpetual Help Church in the Central Vicariate, has departed for the Father’s House to rejoice in His presence and glory,” the statement read.
The archdiocese prayed for the repose of his soul, saying, “Eternal rest grant unto him, O Lord. And let perpetual light shine upon him. May he rest in peace. Amen.”
Faith
Awka Anglican Diocese Rejects Ibezim’s Suspension, Threatens to Leave Church of Nigeria
…Insists Archbishop remains in office, warns against interference by Ezeofor
By Tony Edike
The Diocesan Board of the Diocese of Awka, Anglican Communion, has rejected the six-month compulsory leave imposed on the Archbishop of the Province of the Niger and Bishop of Awka Diocese, Most Rev. Alexander Chibuzo Ibezim, by the Primate of the Church of Nigeria, Most Rev. Henry C. Ndukuba.
The board also rejected the appointment of Bishop Samuel C. Ezeofor as Supervising Bishop of Awka Diocese and Coordinating Bishop of the Province of the Niger, describing the decisions as unlawful, unjustified and contrary to the church’s governing provisions.
The resolutions were contained in a communiqué issued after an emergency meeting of the Diocesan Board held on Friday, October 16, 2026, at the Chapel of Divine Favour, Anglican Village, Ifite Awka, Anambra State.
The meeting deliberated on a letter dated October 13, 2026, issued by Ndukuba directing Ibezim to proceed on six months’ compulsory leave and appointing Ezeofor to oversee the diocese and province during the period.

The board argued that the Primate lacked the constitutional authority to compel Ibezim to proceed on leave or transfer his episcopal responsibilities to another bishop.
It maintained that neither the Constitution and Canons of the Church of Nigeria (Anglican Communion) 2020 nor the Constitution and Regulations of the Diocese of Awka 2023 empowered the Primate to take such action.
According to the communiqué, Section 29(1) of the church’s constitution, which the Primate reportedly cited in his letter, did not authorise the compulsory leave or the appointment of another bishop to assume Ibezim’s duties.
The board further argued that the decision violated Ibezim’s constitutional rights, including the presumption of innocence under Section 36(5) of the 1999 Constitution of Nigeria, as amended, and the right to freedom of thought, conscience and religion under Section 38(1).
Cites pending court cases
The board also faulted the Primate’s decision on the grounds that several cases involving Ibezim and allegations against him were pending before the High Court of Anambra State.
It listed three cases: Suit No. A/Misc. 446/2025, involving Ibezim and the Economic and Financial Crimes Commission; Suit No. A/Misc. 494/2026, involving Ibezim and the Inspector-General of Police and others; and Suit No. A/371/2026, involving Ibezim, Ndukuba and another defendant.

Archbishop Ibezim, Bishop Ezeofor and Primate Ndukuba
The board argued that the matters were sub judice and that the church authorities should refrain from taking actions capable of interfering with the issues before the court.
It further alleged that injunctions granted on September 9, 2025, against the EFCC and Prince Echezona Bonti Onuigbo were renewed by consent of the parties on October 14, 2025.
The communiqué also referred to pending motions seeking to restrain the Primate from issuing suspension letters or taking further steps that could affect Ibezim’s tenure as Archbishop of the Province of the Niger and Bishop of Awka Diocese.
The board maintained that the appointment of a supervising bishop while the legal proceedings remained unresolved amounted to an attempt to pre-empt the outcome of the cases.
Questions inquiry process
The Diocesan Board also challenged the explanation that Ibezim’s compulsory leave was intended to facilitate an impartial inquiry into the affairs of the diocese and promote peace and reconciliation.
It alleged that Ndukuba had previously constituted two panels to investigate allegations against Ibezim but had withheld their reports.
According to the communiqué, the first panel was established through a letter dated August 13, 2025, and headed by Justice Babashola Ogunade, while the second was constituted on June 17, 2026, under the leadership of Archbishop Blessing Enyindah.
The board argued that the failure to release and process the reports violated provisions of the Church of Nigeria’s Constitution and Canons, particularly Sections 75 and 76, which it said prescribe procedures for submitting, considering and ratifying the findings and recommendations of inquiry panels.
It maintained that the reports should be considered by the Episcopal Synod, with the relevant recommendations subjected to the prescribed approvals of the Standing Committee and General Synod.
Reaffirms confidence in Ibezim
Despite the allegations against Ibezim, the board expressed confidence in his leadership and insisted that he remained the duly recognised Bishop of Awka Diocese and Archbishop of the Province of the Niger.
It urged him to continue discharging his episcopal responsibilities, adding that the diocese remained peaceful, united and progressive.
The board also dismissed allegations of financial impropriety against the archbishop, insisting that no diocesan funds had been missing, stolen, misused or misappropriated by him.
It further claimed that neither of the two inquiry panels had indicted Ibezim for financial misconduct.
The board commended the archbishop for what it described as massive infrastructural development in the diocese and urged him not to be distracted by the controversy.
These assertions represent the position of the Diocesan Board as stated in the communiqué.
Warns Ezeofor, threatens withdrawal
The board warned Ezeofor against interfering in the affairs of Awka Diocese, urging him to concentrate on his responsibilities as Bishop of Aguata Diocese.
It cautioned that it would not accept any attempt to destabilise the diocese and threatened to seek legal remedies and involve law enforcement agencies if its warning was ignored.
The communiqué also directed all organs of Awka Diocese to remain loyal to Ibezim and continue their lawful activities, while rejecting what it described as interference or directives from Ezeofor.
It warned that members or diocesan organs that failed to comply with the directive could face appropriate sanctions.
In its strongest warning, the board threatened that Awka Diocese could withdraw from the Church of Nigeria (Anglican Communion) and continue under the Church of England if Ndukuba and Ezeofor persisted in what it described as unlawful interference in the diocese’s affairs.
The communiqué was signed by Sir B.E.I. Nwofor, SAN, Lord Chancellor of the Diocese of Awka; Ven. K.E.N. Chukwukamma, PhD, Synod Secretary; and Mr Eugene Chukwudi Okonkwo, Lay Synod Secretary.
The development marks a further escalation of the leadership dispute within the Anglican Church, with the Diocesan Board openly challenging the Primate’s directive and threatening a possible separation if the disagreement is not resolved.
The Primate and Bishop Ezeofor could not be reached for comments as of the time of filing this report. Their responses will be included in subsequent updates if made available.
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