By Peter Egwuatu 

THE Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have signed a Memorandum of Understanding (MoU) to promote financial literacy and protect young Nigerians from fraudulent investment schemes.

The agreement, signed in Abuja by SEC Director-General, Dr. Emomotimi Agama, and NYSC Director-General, Brigadier General Olakunle Oluseye Nafiu, will integrate anti-Ponzi scheme education into the NYSC’s Community Development Service (CDS) programme, particularly under its Education and Enlightenment arm.

Under the partnership, corps members will be trained to identify and avoid Ponzi schemes and other illegal investment practices, while also developing sound investment habits. The initiative is expected to strengthen nationwide awareness campaigns across local government areas and equip young Nigerians with the knowledge to make informed financial decisions.

As part of the collaboration, the SEC will provide training materials, modules, and funding for capacity-building programmes. Selected corps members and NYSC supervisors will be trained as facilitators to drive financial literacy campaigns within their host communities.

On its part, the NYSC will incorporate the programme into its orientation camps and service year activities through workshops, seminars, and awareness campaigns. Both organisations will also collaborate on joint outreach efforts using social and traditional media, while establishing mechanisms to track progress and measure impact.

Speaking at the signing ceremony, Agama said the initiative builds on the SEC’s longstanding support for the NYSC, noting that between 160 and 180 corps members currently serve with the commission. 

He said the SEC is committed to equipping corps members with skills for the capital market and national development, describing them as future ambassadors of the commission.

In his remarks, Nafiu described the MoU as a significant milestone and a key performance indicator for both institutions. He commended the SEC’s efforts in promoting confidence in the capital market and stressed the importance of educating youths early to curb the spread of Ponzi schemes.

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By Providence Ayanfeoluwa

THE Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has called on African countries to strengthen industrial capacity through backward integration and value addition, rather than exporting raw materials.

Speaking during a facility tour of Coleman Technical Industries Limited in Sagamu, Ogun State, Ajayi-Kadir said Africa must develop the capacity to process its abundant natural resources to maximise value and drive economic growth.

He commended Coleman’s backward integration strategy, noting that it aligns with efforts to build stronger industrial value chains across the continent. “Africa must bridge the gap in industrial capacity. Countries like the Democratic Republic of Congo have abundant resources but lack the capacity to maximise their value. What we have seen here fits perfectly into the narrative of building stronger African value chains,” he said.

Ajayi-Kadir described Coleman as a “champion” in Nigeria’s manufacturing sector and expressed MAN’s readiness to partner with the company to advance industrial development. He also highlighted Ogun State’s growing status as a major manufacturing hub, noting its increasing competitiveness among industrial centres in Africa.

He said the tour provided insight into Coleman’s growth and its strategic investments in telecommunications and power infrastructure through the production of wires and cables. According to him, the expansion of connectivity across Nigeria has been driven by such investments, with Coleman playing a key role.

Ajayi-Kadir added that the company’s expansion plans across West Africa align with regional integration goals and the need to deepen intra-African industrial collaboration. 

He reiterated MAN’s advocacy for policies that prioritise local manufacturing and encourage patronage of made-in-Nigeria goods.

Responding, Chairman of Coleman Technical Industries Limited, Solomon Onafowokan, thanked the delegation, noting that the visit offered firsthand insight into the company’s operations and contributions to Nigeria’s industrial growth.

Onafowokan said the visit provided an opportunity for the association to see firsthand the scale of operations at the Sagamu plant and better understand the company’s contributions to Nigeria’s industrial growth.

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By Gabriel Ewepu

THE Minister of Solid Minerals Development, Dr.  Dele Alake, disclosed that the Tinubu-led administration has attracted over $2.6 billion in Foreign Direct Investment, FDI into the sector in two years.

Alake made this known in a statement signed by his Special Assistant on Media, Segun Tomori, where the Minister advocated for regional hubs to power Africa’s mining industry.

According to Tomori, the Minister charged the US and African nations to prioritize the establishment of regional energy hubs as a strategic pathway to accelerate cross-border mining industrialization and strengthen the supply chain of critical minerals essential for the global energy transition.

He said the Minister  who spoke  at a high-level panel themed ‘Critical Minerals in Africa: Meeting Global Demand’ at the ongoing Powering Africa Summit in Washington, D.C., United States, “ emphasized that sustainable partnerships with Africa remain the fastest route to meeting rising global demand for critical minerals.

“He called for the development of regional industrial corridors akin to the Lobito Corridor, noting that similar belts such as the Lagos Abidjan corridor, spanning Nigeria, Benin, Togo, Ghana, and Côte d’Ivoire, as well as the Walvis Bay Corridor linking Southern and Central Africa to global markets—could unlock vast mineral potential across the continent.”

According to the Minister, such corridors would serve as economic catalysts by driving infrastructure development, enhancing energy access, and promoting regional integration. Alake said: “The development of nuclear power in one West African country, for instance, can service an entire corridor. With that in place, local beneficiation, technology transfer, manufacturing, and cross-border industrialization will naturally follow. 

“If three to five such corridors are developed in Africa, we would significantly advance industrialization across the continent, creating a win-win outcome for both Africa and the West.” Highlighting the impact of reforms under the administration of President Bola Ahmed Tinubu, Alake noted that strengthened governance structures, improved regulatory frameworks, digitization of licensing processes, and enhanced ease of doing business have repositioned Nigeria’s mining sector as a key driver of economic diversification.

He explained that reforms introduced in the last two and half years now guarantee mineral title holders secure tenure, thereby providing the long-term stability required for investment decisions.

In addition, Alake disclosed that the government is expanding the generation of scientific and internationally certified geological data to support informed decision-making by both local and international investors.

On security, he (Alake) acknowledged challenges within the sector but noted significant progress through the establishment of Mining Marshals. He revealed that over 350 suspected illegal miners including foreign nationals have been arrested within one year, with more than 150 currently undergoing prosecution, asserting that this has sent the right signals that Nigeria means business.

Reaffirming Nigeria’s openness to genuine investors, the Minister emphasized strict compliance with local laws and regulations while outlining key investment incentives, including tax waivers on imported mining equipment and full repatriation of profits after due payment of royalties and taxes.

“We have successfully de-risked and sanitized the mining environment, making it conducive to Foreign Direct Investment (FDI). Within the last two and a half years, we have attracted over $2.6 billion in FDI into the sector”, he affirmed. 

In her remarks, Senior Vice President and Global Head of Origination at the U.S. Export-Import Bank (EXIM), Sarah Whitten, noted that the mining sector requires successful collaborations contingent on the commitment of participating governments and the sustainability of agreements beyond political cycles.

“American banks are ready to support projects, but our role is to catalyze and unlock private sector capital. There are institutions positioned to directly finance critical minerals projects. If we succeed in unlocking that capital, we have fulfilled our mandate”, she said.

Asides Alake, the panel session featured Guinean Minister of Energy, Hon. Sekou Camara; Managing Partner, Denham Capital, Carl Tricoli; CEO, ReElement Technologies Africa, Ben Kinkaid; Senior Vice-President, Global Head of Origination, US Export-Import Bank (EXIM), Sarah Whitten; Chief Strategic Development Officer, TechMet, Heliana Matza and Partner, Mc Dermott Will & Schulte, Jahan Khandokar.

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