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Central Securities Clearing System Joins ISSA’s Board

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ISSA has announced that Central Securities Clearing System plc (CSCS), Nigeria, has become a member organisation of the Board of Directors of ISSA, effective September 2022. Haruna Jalo-Waziri, CEO of CSCS, is accordingly appointed to the Board of ISSA.

The ISSA Board has set themselves the ambition of ensuring the Association is diverse and fit for the 21st Century, composed of a wide spectrum of firms involved in the Securities Services value chain globally.

Welcoming the first African firm as a Board member institution reinforces ISSA’ s aim to ensure relevance and leadership in all regions, and particularly in the growing continent of Africa.

Haruna has over 30 years of experience in financial market. At the early stage of his career, he worked with the Securities and Exchange Commission, the apex regulatory organization of the Capital Markets in Nigeria.

He worked in the investment banking business of Afrinvest West Africa (formerly SECTRUST) and pioneered the Asset Management Department of Kakawa Discount House Limited, which he played active role in transforming to a full fledge company “Kakawa Asset Management Limited” (now FBN Merchant Bank).

He later joined the services of First Alliance Pension & Benefits Limited (now part of ARM Pensions Limited), one of the pioneer pension fund administrators established in Nigeria, partnership with Mcube South Africa. In 2007, he was appointed MD/CEO of UBA Stockbrokers Limited, a subsidiary of United Bank for Africa (UBA Plc).

He successfully transformed the hitherto loss-making entity into a profitable business and saw it grow to become one of the top-5 securities trading companies in Nigeria within three years of his leadership. He thereafter became the MD/CEO of UBA Asset Management Limited.

In 2012, Haruna Jalo-Waziri was appointed the Executive Director, Capital Markets of the Nigerian Stock Exchange (now Nigerian Exchange Group Plc), the premier capital trade point in Nigeria and leading African Exchange. He had primary responsibility for the overall capital market developments.

He implemented key initiatives such as partnership between the Nigerian Stock Exchange andthe London Stock Exchange Group (which berth dual listings of Nigerian corporates on both Exchanges), development of the Green Bond market (with the pioneer instrument being the Nigerian Sovereign Green Bond), introduction of Federal Government Retail Savings Bond, Launch of the NSE Premium Board, and MSCI Index Partnership- GICS Adoption amongst others.

He has been CEO of CSCS for almost 5 years and is the Vice President of the Africa & Middle East Depositories Association (AMEDA). He has recently represented the World Forum of CSDs at the ISSA Operating Committee, so he is ideally suited to join the Board.

Phil Brown, ISSA Chair, stated: “CSCS is a great addition to the ISSA Board, bringing not only in-depth knowledge of Africa, but also a forward-thinking and technologically advanced perspective.

ISSA is committed to building its brand on the continent and ensuring the relevance of its products to all market segments – and the presence of CSCS on the Board will ensure that ISSA delivers on this commitment.

“Haruna is a known quantity at ISSA, having served and actively contributed on the Operating Committee. He will undoubtedly bring his skills and personality to the Board, and I am delighted that he will be joining us. ”

On accepting the nomination Haruna Jalo-Waziri, Chief Executive of CSCS, said: «I am delighted to have the opportunity to contribute towards global capital market development.

I look forward to deepening my engagement with ISSA towards advancing its crucial role in the global securities services industry for the mutual interest of all members and more importantly the integrity and efficiency of the market.

Since becoming an Operating Committee Member, I have more than ever appreciated the real value that ISSA brings to the market and the potentials of its coordination of securities services stakeholders across the ecosystem.

ISSA’s willingness to listen to stakeholders and take proactive actions towards advancing the industry has resulted in concrete positive changes and tremendous knowledge exchange amongst member institutions.

CSCS joining the Board is an honour for us and we are excited that Africa is duly recognised as a critical part of the global market ecosystem, relevant for driving ISSA’s mission to shape the future of securities services.


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EFCC: Accusations Against Our Chairman Are Baseless and Misleading

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Economic and Financial Crimes Commission (EFCC) has strongly denied allegations of lack of integrity and transparency directed at its chairman, Ola Olukoyede, by columnist Steve Osuji.

In a statement issued by Dele Oyewale, spokesperson, EFCC. the commission described the claims as “worrisome and unjustifiable,” particularly criticizing the personal attacks on Olukoyede.

“More worrisome was his attack on Olukoyede for no justifiable reason. Allegations of lack of transparency, accountability and integrity deficit are wild and clearly off the mark,” Oyewale said.

He questioned the basis for the allegations and defended Olukoyede’s leadership since taking office.

“The question is: in what way has Olukoyede fallen short? Is it by insisting that the right things should always be done? By moving the nation’s anti-graft war forward radically and unprecedentedly?

“By bringing forth a preventive framework to tackle corruption and reaping bountiful gains for the nation?

“By recovering the globally-acclaimed 753 duplexes and other apartments, which are proceeds of fraudulent dealings for the nation?

“By launching the EFCC into a global map of accomplished anti-graft agencies? By handling 50,000 case files in one year?

“By embarking on a courageous internal cleansing system and other progressive initiatives to deepen and strengthen the anti-corruption fight?

“It is cowardly and uncharitable for any columnist to hide under vague and opaque cover to splash mud on Ola Olukoyede, arguably one of the finest breed of anti-graft czars around the world.”

Olukoyede, through the statement, reaffirmed that the EFCC has consistently submitted its annual reports to the National Assembly as required by law.

“Equally preposterous are claims of re-looting of assets by officers of the Commission. For the purpose of clarification, the Commission does not recover monetary assets into its covers and the non-monetary assets that are recovered are disposed of following clear pronouncements by court and proceeds paid into the Confiscated and Forfeited Properties Account account in the Central Bank in line with provisions of the Proceeds of Crime (Recovery and Management) Act, 2022.

“The EFCC does not operate in secrecy. All its operations are regularly communicated to the public, including public auction of assets. To deliberately cast the Commission in the mould of fraudulent engagements or criminality is not only mischievous but also untenable,” the statement concluded.


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IHS Nigeria, UNICEF Donate Oxygen Plant to Bridge Health Gap in River State

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IHS Nigeria and its implementing partner, the United Nations Child Education Fund (UNICEF) has expressed satisfaction that the Oxygen Plant recently donated to Rivers State is helping to bridge the health Gap in the state and its environs.

This observation was made recently when officials from IHS Nigeria and UNICEF, carried out a project inspection visit to the plant located at the General Hospital in Eleme, Rivers State.

During the handing over of the oxygen plant to the Rivers State Government in 2024, the facility was reported to have a production capacity of 123 oxygen cylinders and 720,000 litres of oxygen every 24 hours.

The plant was built under a Public-Private Partnership involving UNICEF, the Canadian Government, IHS Nigeria, in partnership with the Rivers State Ministry of Health through the State Hospital Management Board.

Speaking during the visit to the facility yesterday, the Director of Sustainability at IHS Nigeria, Titilope Oguntuga, noted that the oxygen plant has saved lives and is helping to bridge health gaps in the eight other states where similar plants are located.

She further explained that the visit reflects the organisation’s commitment “not only to create opportunities for impact but to also continue supporting the healthcare industry by carrying out such interventions that directly impact individuals and saves lives. This plant is one of the nine oxygen plants we have built across the federation,” she said.

“We are particularly excited that it is helping to bridge health gaps—not just in Rivers State and its environs, but in all the states where the plants are currently located.”

Oguntuga informed that in terms of sustainability “we focus our intervention sustainability on four pillars; ethics and governance, education and economic growth, environment and climate change and finally, people and communities”.

She added that “the visit to the Rivers State oxygen plant is to have an assessment of how well the plant is functioning, the impact it is currently making and to generally understand how the operation is going”.

On his part, Chief of UNICEF Field Office, Port Harcourt, Dr Anslem Audu, stated that the plant has been very functional and useful to the people of Rivers State. According to him, “During the COVID-19 pandemic, a lot of patients needed oxygen and oxygen was not available. So many children will come down with pneumonia and it will become an emergency, they will need oxygen, but oxygen is not available in the hospital. But with this plant now available no child will die because of lack of oxygen in the hospital. The era of lack of oxygen is no longer there.

Audu added that “You can practically visit any of the hospitals in Port Harcourt and find out that they have oxygen and the product is from this plant all thanks to IHS Nigeria, the Canadian Government and UNICEF”.

The UNICEF field officer, who confirmed that the plant is functioning optimally, said it is producing enough oxygen for the state’s needs.

In his words, “The partnership between these three organizations and the Ministry of Health in Rivers State has really worked, and we are reaping the benefits of the partnership.

He urged the implementing partners, especially the government, to also invest in the sustainability of the facility by providing a source of electricity for the plant to be more functional.

Earlier, the Medical Director Eleme General Hospital, Dr Leechi-Okere Clarabelle, noted that since the day of the unveiling, the plant has been functioning very well. Commenting on impact he noted that “We’ve had success stories whereby oxygen is distributed to public hospitals in the state, including the two teaching hospitals in the state and then we have also extended distribution to some private hospitals within the state.

“We have two hubs that serve as storage and distribution points because of the location of the plant. We produce here and store somewhere in Port Harcourt so that people who come from a far distance can get oxygen from these hubs.

 


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JAMB Accuses Student of Securing Admission through Identity Fraud

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Joint Admissions and Matriculation Board (JAMB) has accused a 2025 Unified Tertiary Matriculation Examination (UTME) candidate of manipulating his identity and engaging in online blackmail.

JAMB Accuses Student of Securing Admission through Identity Fraud

Fabian Benjamin, head of public affairs, JAMB, issued a statement on the matter on Thursday.

He said one Chinedu Okeke, currently a 400-level Medicine and Surgery student at the University of Nigeria, Nsukka (UNN), gained admission in 2021 while claiming to be from Amuwo-Odofin, Lagos state.

JAMB said Okeke’s national identification number (NIN) records from 2021 confirm his Lagos origin.

The board stated it does not alter candidate information provided through NIN.

The board, however, said the 400-level student, who is facing potential challenges for incorrect credentials, is now claiming that it retrieved the wrong details for him from the National Identity Management Commission (NIMC) in 2021.

“[This] is unequivocally false, aimed at fabricating a defence for his case,” Benjamin said.

“The evidence suggests that Chinedu altered his records as filled in 2021 before registering for the 2025 UTME, a fact confirmed by even his advocates.”

The board questioned why a 400-level medical student would seek to study mechanical engineering in 2025, especially with “inconsistencies in his claims.”

JAMB alleged that Okeke “took advantage” of Lagos state’s quota in 2021, thereby obstructing the admission opportunities for other deserving candidates from the state.

It added that he then “attempted to manipulate his details with the NIMC” to unjustly claim representation from Anambra state in 2025.

The board criticised “online advocates” for “actively reaching out to Chinedu’s parents to extract emotional narratives rather than factual clarifications, neglecting to seek information directly from the university.”

JAMB affirmed its commitment to maintaining accurate records and preventing candidates from exploiting loopholes.

It warned that if UNN confirms any inconsistencies, it would notify the Medical and Dental Council to consider delisting Okeke.

“When a nation trivialises illegalities, it breeds a future fraught with potential criminality,” Benjamin’s statement concluded.


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