News
SEC Probes 77 Unregistered Investment Schemes, Warns Against FF Tiffany
The Securities and Exchange Commission (SEC) has begun a sweeping investigation into 77 unregistered investment schemes operating in the country, with a particular focus on one entity: FF Tiffany, which authorities say is linked to a fraudulent Ponzi scheme that has cost Nigerians at home and abroad several billions of naira.
Preliminary findings suggest that FF Tiffany lured investors with the promise of unusually high and unrealistic returns, leaving thousands of victims across the country and the diaspora.
Describing the situation as a “serious threat to investor confidence and the overall integrity of the financial system,” the SEC assured the public that it is “working closely with law enforcement agencies and other relevant bodies to bring everyone involved in this unlawful operation to justice.”
“Those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions,” the commission stated on Tuesday.
In the midst of these developments, the SEC reiterated its warnings about the dangers of unregistered investment platforms and Ponzi schemes, emphasising that such outfits do not offer investor protection. “The commission is currently investigating 77 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC stated.
The Commission urged Nigerians to conduct due diligence before investing, verifying any firm or product’s status on the SEC’s official channels.
“It is crucial that Nigerians understand the dangers of putting their hard-earned money into ventures that are not registered or regulated by the SEC,” the director general of SEC, Dr. Emomotimi Agama, stressed.
The SEC has launched extensive sensitisation campaigns nationwide, distributing flyers and engaging directly with traders about the risks of unregulated investments.
Explaining the motive behind these actions, Dr. Agama noted, “We are happy that we have come out here to inform them and more importantly, they are now being enlightened to the effect that if it is too good to be true then it is not good, certainly it is not true. They encouraged us to come back again on this journey and we have also encouraged them to inform more people all around them about the dangers of Ponzi schemes. We believe strongly that by this action; a lot of people would be free from ponzi scheme scams.”
He clarified that the Commission moved outreach efforts to the markets because, “Sitting in our offices and requiring them to go to our websites and getting to us through the telephone may not be the best way; we needed to come out to let them know the dangers of a Ponzi scheme.”
Dr. Agama warned: “The danger is real. You could lose all your money. You could fall into ill health from the stress. When that happens, you risk destroying your family, your foundation, your business, even your nation.”
He expressed the Commission’s determination to eradicate such illegal platforms from Nigeria’s financial landscape.
“President Bola Ahmed Tinubu has signed into law the new ISA 2025. Now, anyone involved in Ponzi schemes—whether influencers, bloggers, accomplices, or anyone else—faces a N20 million naira fine and up to 10 years in jail.
“We will not stop here. We will go to every market we can reach—every nook and cranny of this country. We will visit churches, mosques, hospitals, even the navy. We want everyone to hear this message.
“It is never too late. When you wake up, that is your morning. Now that you are educated, you can protect yourselves and others. Ponzi schemes are a global problem, but together, we can fight them here.”
He said, “The SEC of today is reaching out like never before. We will continue to do this, but we need your help to spread the information. Together, we will be better off.”
The SEC’s renewed crackdown and aggressive awareness drive aim to ensure perpetrators are brought to justice, restore faith in the financial system, and prevent more Nigerians from falling victim to fraudulent schemes.
-Leadership
Education
NFVCB Boss Urges Stronger Distribution Channels As Coal City Film Festival 2026 Opens In Enugu
The Executive Director/Chief Executive Officer of the National Film and Video Censors Board (NFVCB), Dr Shaibu Husseini, has called for stronger distribution frameworks within Nigeria’s film industry to ensure that locally produced content achieves global visibility.
Dr Husseini made this call while delivering the keynote address at the opening ceremony of the 2026 edition of the Coal City Film Festival, held in Enugu.
Welcoming participants to the festival, Dr Husseini expressed his personal delight at hosting the event in Enugu, his birth state, noting the city’s rich cultural heritage and longstanding contributions to Nigeria’s creative landscape.
He commended the festival organisers, particularly the Festival Director, Uche Agbo, for their resilience and commitment in sustaining the initiative.
According to him, the Coal City Film Festival has grown into a significant cultural platform and a must-attend cinematic event in South East Nigeria.
Speaking on the festival’s theme, “Local Stories, Global Screens,” Dr Husseini emphasised the importance of authenticity in storytelling. He noted that films rooted in local realities, languages, and cultural truths often resonate more strongly with global audiences.
He cited notable Nigerian productions such as “King of Boys” by Kemi Adetiba, “The Wedding Party” by Mo Abudu, “Anikulapo” by Kunle Afolayan, “Black Book” by Editi Effiong, and “Lionheart” by Genevieve Nnaji as examples of culturally grounded stories that have gained international recognition on platforms such as Netflix and at global film festivals.
While acknowledging the growth in film production across Nigeria, the NFVCB boss identified distribution as a major bottleneck in the industry. He observed that many high-quality films struggle to reach audiences both locally and internationally due to limited distribution channels.
Dr. Husseini therefore urged film festivals across the country to evolve beyond networking platforms into active marketplaces where filmmakers can secure distribution deals. He stressed that festivals must attract distributors, exhibitors, streaming platforms, and marketers to create tangible opportunities for filmmakers.
“Film festivals must become gateways to distribution where filmmakers leave not just with applause, but with real opportunities,” he said.
Reaffirming the Board’s commitment to industry development, Dr. Husseini stated that the NFVCB has continued to reposition itself as a partner in progress by engaging stakeholders, improving classification processes, and promoting a balance between creative freedom and social responsibility.
However, he raised concerns over increasing non-compliance with regulatory requirements, noting that some filmmakers bypass the Board by releasing unclassified films or operating without proper licensing.
He reiterated that all films and video works must be submitted to the NFVCB for classification and registration before being released on any platform, including digital platforms such as YouTube.
“This is a legal obligation, and the Board will not hesitate to take decisive action against defaulters,” he warned, adding that regulation is essential for protecting the industry, audiences, and national values.
Looking ahead, Dr. Husseini assured stakeholders of the Board’s continued collaboration with filmmakers and festival organisers to build a structured, sustainable, and globally competitive Nigerian film industry.
He concluded by commending the organisers of the Coal City Film Festival for their vision and contribution to Nigeria’s cultural economy, urging filmmakers to continue telling authentic stories that can resonate across global screens.
-Leadership
News
Wike Reaffirms Nigeria–EU Ties, Moves To Reclaim Encroached Diplomatic Lands
The Minister of the Federal Capital Territory, Nyesom Wike, has reiterated Nigeria’s commitment to strengthening its relationship with the European Union, while announcing steps to recover diplomatic lands in Abuja allegedly taken over by land grabbers.
Wike made this known on Thursday during a courtesy visit by the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, in Abuja.
“We will continue to engage EU member countries to further strengthen bilateral relations,” the minister said.
Addressing concerns over diplomatic land allocations, Wike disclosed that several plots originally designated for EU countries had been unlawfully occupied over the years. He noted that the FCT Administration has begun reclaiming such lands.
He added that the government would formally communicate with the affected countries to determine their continued interest in the properties and ensure rightful ownership is restored.
“We are writing to those countries. If they still intend to retain the lands, we are willing to return them. We will not allow land grabbers to take advantage,” Wike said.
The minister also commended the EU for its contributions to governance and justice sector reforms in the FCT, particularly in court digitalisation and improved justice delivery.
“I am aware of your support, especially in strengthening the administration and dispensation of justice. We will continue to partner with you to deepen these initiatives,” he added.
On requests for land allocation for local EU staff, Wike assured that applications would be considered based on due process, stressing that such processes must ultimately benefit the public.
He further addressed infrastructure concerns at the IBB Golf Club, confirming that a caretaker committee has been constituted, with rehabilitation works expected to commence soon.
In his remarks, Mignot described Nigeria as a key strategic partner for the EU, noting that both parties are entering a new phase of deeper engagement.
“The European Union remains one of Nigeria’s foremost trade and development partners. Our relationship is strong, mutually beneficial, and evolving into a more significant phase,” he said.
He highlighted ongoing EU-supported programmes in the FCT, including judicial reforms, court digitalisation, human rights initiatives, and support for victims of gender-based violence.
Mignot also invited the FCT minister to engage further with EU ambassadors to explore collaboration in areas such as waste management, urban planning, and water infrastructure.
Meanwhile, Wike recently ordered the demolition of buildings illegally constructed on land designated for foreign embassies in the diplomatic zone of Katampe Extension, Abuja.
He explained that the land, originally allocated on March 18, 2008, for residential use by diplomatic missions, was later encroached upon by an unauthorised developer who commenced construction without approval from the Federal Capital Development Authority.
The affected diplomatic missions include Thailand, Bulgaria, Syria, Somalia, Serbia and Montenegro, Japan, Austria, Switzerland, Senegal, and the Palestine Liberation Organisation.
-Leadership
News
Inspector-General Disu Submits 75-Page Framework On ‘State Police’ To Senate As Push Gains Momentum
According to a statement issued on Thursday by Ismail Mudashir, Special Adviser on Media and Publicity to the Deputy Senate President, the document titled “A Comprehensive Framework for the Establishment, Governance and Coordination of Federal and State Police” was presented at Jibrin’s office within the National Assembly complex.
The Inspector-General of Police, Olatunji Disu, has submitted a 75-page framework on the establishment of State Police to the Deputy President of the Senate, Barau Jibrin, in a fresh move to advance decentralised policing in Nigeria.
According to a statement issued on Thursday by Ismail Mudashir, Special Adviser on Media and Publicity to the Deputy Senate President, the document titled “A Comprehensive Framework for the Establishment, Governance and Coordination of Federal and State Police” was presented at Jibrin’s office within the National Assembly complex.
The report was delivered on behalf of the IGP by Prof Olu Ogunsakin, who chairs the Nigeria Police Force committee set up to develop modalities for instituting State Police.
Disu said the document encapsulates the Force’s professional input following extensive consultations and a thorough evaluation of the legal, operational and administrative implications of decentralised policing.
“The report covers the considered views, professional insights and strategic recommendations of the Force, derived from extensive consultations and a careful assessment of the operational, legal and administrative implications of instituting State Police in Nigeria,” Disu said.
“It is our expectation that the contents of this report will meaningfully contribute to ongoing deliberations and assist in shaping informed, balanced, and pragmatic decisions on this critical aspect of national security architecture.”
The police chief noted that the framework has been formally submitted to the Senate Committee on the Review of the 1999 Constitution as the Nigeria Police Force’s official contribution to the ongoing constitutional amendment process.
Responding, Senator Jibrin commended the IGP for what he described as a proactive step aligned with the security agenda of Bola Ahmed Tinubu.
“The Deputy President of the Senate commended the IGP for his proactiveness on the establishment of State Police in line with President Bola Ahmed Tinubu’s agenda to fully secure the country,” the statement read.
He assured that the Senate Committee reviewing the Constitution would carefully examine the framework alongside other submissions as part of efforts to strengthen Nigeria’s legal foundation.
The proposed framework is expected to outline the operational structure, governance model, and coordination mechanisms between federal and state policing systems— marking a significant step in ongoing efforts to overhaul Nigeria’s security architecture.
SaharaReporters had earlier reported that Disu inaugurated an eight-member committee in March to drive the implementation of State Police, declaring that the reform was irreversible.
At the inauguration in Abuja, the IGP insisted that decentralised policing “has come to stay,” dismissing concerns that it could threaten the roles of existing police personnel.
“State Police has come to stay, and the police should be able to contribute their part in making it succeed. The police are not afraid, our jobs are not being taken,” he said.
He described the committee’s assignment as urgent and critical, giving members one month to submit their report amid rising security challenges across the country.
Disu stressed that the move towards State Police is aimed at strengthening internal security by bringing law enforcement closer to communities and enabling faster, more targeted responses to threats.
“Across the nation, we continue to confront evolving security challenges. These require innovative thinking, strategic collaboration, and the willingness to explore reforms,” he added.
The push for State Police has gained renewed momentum following President Tinubu’s assurance that the plan would not be shelved, urging stakeholders to support the initiative.
-Sahara
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