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CSCS Boss Urges Investors to Choose Credible Portfolio Managers
Kyari Bukar, chief executive officer, Central Securities Clearing System (CSCS) has advised investors to be savvy in choosing their portfolio managers to ensure their resources are entrusted in the hands of credible, efficient and well capitalized operators.
He gave the advice at the weekend during the Finance Correspondents Association of Nigeria (FICAN) Bi-Monthly Forum hosted by CSCS in Lagos.
Bukar, who spoke on the theme: ‘Role of Central Securities Clearing System in The Nation’s Financial Sector’ said investors needed to be fully informed about the market and companies where they are putting their capital.
He said: “The most important thing for a market like this is to have an informed investor. The investors needed to be informed for them to exercise their choices. There is need to enlighten investors to enable them make the right choices for the future,” he said.
According to him, there is also need for investors to regularly check their accounts with the CSCS, as such would update them on the performance and position of their investments with brokers.
He said the automation of brokerage business has reduced the cost of operation for most operators. Automation, he said reduces cost of operation for companies. “The most important thing is that investors should be in control of their money or go for collective investment scheme. Still, investors need to beware and invest in portfolio managers that are credible, efficient and have all the necessary capital to be in the position to sale their assets,” he said.
He said both the big and small operators have gone retail, meaning that they can accommodate both big and small investors after getting their processes fully automated.
“Previously, if it is not large volume, brokers may not efficiently service the system. But with automation of operations, some of the big stockbrokers have through automated system, have realized that servicing the customer, whether they have N1, 000 or N10 billion, is usually the same. Stock brokers now require very little efforts in servicing the investors. There must be a code that the industry must develop to serve all investors,” he said.
Kyari explained that the CSCS is implementing the transaction cost analysis because it wants to understand the total cost of each transaction to an investor.
He said that investors buy shares to make money and are always concerned about fees and other cost of transaction that follow each deal. “Investors pay fees when they are buying shares and when exiting. We need to benchmark ourselves, against other markets. Since foreign investors look at the various markets, and apportion their resources to them accordingly, depending on many criteria, there is need to be competitive with cost,” he said.
According to him, investors may also be looking at how free or open the market is, how easy it is to go in and out, and the riskiness of the country, especially whether it is democratic or not among other factors. He said there are other investors that consider other elements like the transaction costs before they go in.
“It may result in reduction of charges and that might increate market participation. Understanding the cost and dynamics of both the intrinsic and explicit costs means that you are taking an informed action rather than just reacting and that is the reason we are applying the transaction cost analysts,” he said.
Bukar said operators should be efficient in carrying out their work and also consider critical issues like time spent in buying or selling portfolios and timeline for share certificate dematerialization are things investors look out for in different markets.

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E-Financial
UBA Surprises Thousands of Customers with Over ₦400 Million Cash Bonus

United Bank for Africa (UBA) Plc, Africa’s Global Bank, has rewarded thousands of customers with over ₦400 million in anniversary bonuses under its flagship UBA Bumper Account, reaffirming the Bank’s unwavering commitment to rewarding customer loyalty and promoting a strong savings culture.

The payout, one of the largest loyalty rewards under the Bumper Account initiative since its launch, saw qualifying customers receive anniversary bonuses directly into their accounts, demonstrating UBA’s resolve to create lasting value for customers who consistently save with the Bank.
The UBA Bumper Account is a unique savings product that rewards customers simply for maintaining and growing their savings. Every year an eligible account reaches its anniversary, customers receive a cash bonus, making disciplined saving both rewarding and beneficial over time.
Speaking on the milestone, UBA’s Head, Retail Products, Tomiwa Sotiloye, said the Bank remains committed to ensuring that customers benefit directly from their relationship with UBA.
“At UBA, we believe customer loyalty deserves meaningful recognition. Every bonus paid is our way of saying ‘thank you’ to customers who continue to trust us with their financial aspirations. Surpassing the ₦400 million milestone reflects our commitment to creating products that not only help customers save but also reward them in tangible ways. It is another demonstration that when our customers grow, we grow with them.”
He added that both new and existing customers can open a UBA Bumper Account seamlessly through https://on.ubagroup.com/bumper-tc, any any UBA branch, the UBA Mobile Banking App, by dialing *919#, or online, positioning themselves to qualify for future anniversary rewards.
Also speaking, UBA’s Group Head, Brands, Marketing and Corporate Communications, Alero Ladipo, said the Bank’s customer-centric philosophy continues to shape its product offerings.
“The UBA Bumper Account reflects our unwavering commitment to putting customers first. We deliberately design products that reward responsible financial behaviour while delivering real value. Crediting over ₦400 million directly into customers’ accounts is not just a payout; it is evidence of our promise to make banking more rewarding and to continually appreciate the confidence our customers repose in us.”
The UBA Bumper Account remains one of the Bank’s flagship retail savings products, combining competitive savings benefits, digital convenience and attractive loyalty rewards. It forms part of UBA’s broader strategy to deepen financial inclusion by encouraging sustainable savings habits while delivering exceptional customer experiences.
United Bank for Africa Plc is Africa’s Global Bank, serving over 45 million customers across 20 African countries, as well as the United Kingdom, the United States, France and the United Arab Emirates. Through innovative technology and customer-focused solutions, UBA provides retail, commercial and institutional banking services while driving financial inclusion across the continent.
Telecom
Lebara Nigeria Becomes Member of GSMA Network

Lebara Nigeria has become a member of the Global System for Mobile Communications Association (GSMA) as it expands operations in the West African country.

The membership places Lebara Nigeria within a global network of more than 1,000 mobile operators, device manufacturers, technology companies and digital service providers.
Through the GSMA, the company will have access to industry research, technical standards, policy engagement and industry initiatives.
Lebara Nigeria said the move reflects its participation in the wider telecommunications ecosystem as it develops its operations in Nigeria’s mobile market.
Nigeria’s telecommunications sector plays a central role in the country’s digital economy, with more than 170 million active mobile subscriptions supporting services such as digital payments, e-commerce, education and healthcare.
Industry analysts say participation in international bodies such as the GSMA supports knowledge sharing and the adoption of industry standards.
Lebara Nigeria said GSMA membership will support its engagement with industry developments and policy discussions in the telecommunications sector.
The company said it remains focused on operating in Nigeria’s mobile telecommunications market as demand for connectivity continues to grow.
GSM Association is the advocacy and lobbying organization for the mobile communications industry, representing more than 1,000 mobile operators as full members and a further 400 companies in the broader mobile ecosystem as associate members.
General News
FG to Abolish JSS-SSS Separation Policy after 20m Pupils Drop Out

Federal government has announced plans to end the separation between Junior Secondary School (JSS) and Senior Secondary School (SSS) as part of efforts to improve school retention and reduce the high number of pupils dropping out before completing secondary education.

Tunji Alausa, minister of Education
Tunji Alausa, minister of Education, announced the proposal on Tuesday during the inauguration of the Ministerial Implementation and Monitoring Committee of the Universal Basic Education Commission (UBEC) in Abuja.
Alausa said the existing “disarticulation policy,” which requires junior and senior secondary schools to operate independently with separate principals, management structures and facilities, has failed to achieve its intended objectives and has instead worsened access to education.
According to him, the Federal Government will present a proposal to abolish the policy at the next meeting of the National Council on Education (NCE), the country’s highest education policymaking body.
“We have 20 million dropouts from primary school to JSS. Where are those students?” the minister queried.
“We also found we have 80,000 public primary schools and only about 15,000 junior secondary schools. That’s a one-to-eight ratio.”
He explained that the mismatch between the number of primary and junior secondary schools has created severe bottlenecks in the education system, leading to overcrowded classrooms at the junior secondary level while many senior secondary school facilities remain underutilised.
Alausa cited Kaduna and several northern states as examples where the policy has contributed to poor transition rates between basic and secondary education.
“This disarticulation policy has failed. We will phase it out. We can’t be creating positions because we want to create director-level appointments for people while we harm our education system. It’s about doing what is best for every Nigerian child,” he said.
The minister said the proposed reform forms part of broader efforts by the Tinubu administration to improve access to education, increase retention rates and enhance learning outcomes across the country.
He acknowledged previous shortcomings in tackling the out-of-school children crisis but expressed confidence that the current administration would reverse the trend.
“This government will not fail. We are fixing it,” Alausa declared.
At the ceremony, the minister also inaugurated the UBEC Ministerial Implementation and Monitoring Committee, chaired by Prof. Rashid Aderinoye, to supervise the execution of UBEC-funded Smart Schools, Bilingual Schools and Alternative Schools nationwide.
He said the committee had been tasked with ensuring that the projects are completed, handed over to state governments and opened for teaching and learning.
Although UBEC has invested in hundreds of Smart Schools and related educational projects across the country, Alausa lamented that many remain abandoned, unfinished or yet to admit pupils, describing the situation as an unacceptable waste of public resources.
He stressed that improving education requires more than constructing schools, insisting that completed facilities must become fully operational and accessible to learners.
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