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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
Mastercard, BMONI Launch Multi-Currency Payment Cards in Nigeria

Mastercard, global technology company in the payments industry and BMONI, smart digital wallet designed as a modern alternative to traditional banks have partnered to launch a new suite of virtual and physical payment cards in Nigeria, marking a significant step in the country’s expanding digital payments ecosystem.

The new cards, available in both Naira and US dollars, are designed to support seamless domestic and international transactions.
The partnership combines Mastercard’s global payments infrastructure with BMONI’s AI-powered financial platform to deliver one of Nigeria’s first locally issued international card programmes focused on multi-currency functionality and instant digital access.
The launch comes as Nigeria’s e-commerce market continues to grow rapidly, with increasing demand for globally accepted digital payment solutions.
Through the BMONI mobile app, users can instantly create multiple virtual cards tailored for different spending needs, including travel, subscriptions, online shopping, and daily expenses.
The platform aims to give users greater visibility and control over spending through real-time tracking and customizable card management features.
Folasade Femi-Lawal, country manager for West Africa at Mastercard, said the collaboration aligns with the country’s accelerating digital transformation.
“This collaboration brings together a trusted global network with an innovative platform to deliver real value—instant card access, multi-currency flexibility, and seamless cross-border transaction capabilities,” she said.
Ashwin Ravichandran, head of Product at BMONI, said the partnership is focused on improving financial accessibility and user control.
“Our goal is to remove friction between people and their money. Partnering with Mastercard allows us to provide global access and financial control at a level previously unavailable to Nigerian consumers,” Ravichandran said.
The launch reflects a broader FinTech trend across Africa, where digital-first financial services providers are increasingly partnering with global payment networks to expand access to cross-border commerce, embedded finance, and multi-currency payment solutions.
The service is now live, with users able to access the offering directly through the BMONI app.
General News
NCDC Enhances Monitoring, Releases Advisory amid Rising Global Hantavirus Cases

Nigeria Centre for Disease Control (NCDC) has intensified nationwide disease surveillance following reports of a Hantavirus infection cluster connected to international cruise ship travel involving several countries.

Dr Jide Idris, director-general, NCDC, in a public health advisory, confirmed that Nigeria has not recorded any confirmed Hantavirus case and stated that the overall public health risk remains low.
According to the agency, the reported outbreak currently involves a limited number of confirmed and suspected infections linked to cruise ship exposure, while international investigations and contact tracing efforts continue.
The NCDC explained that the advisory was released to strengthen national preparedness and encourage vigilance against emerging infectious diseases amid growing global concern surrounding the outbreak.
Health authorities noted that Hantaviruses are mainly transmitted through exposure to infected rodents, their urine, saliva, droppings, or contaminated dust particles. Symptoms may include fever, fatigue, muscle pain, gastrointestinal illness, and in severe cases, respiratory complications.
The current outbreak has reportedly been associated with the Andes virus strain, which has shown limited human-to-human transmission through close contact in previous cases.
The NCDC stated that enhanced monitoring systems have been activated nationwide to support early detection and rapid response efforts.
The agency also urged Nigerians to maintain proper hygiene, prevent rodent infestations, safely store food items, and avoid exposure to rodents and contaminated environments.
Officials further advised the public to rely only on verified information from recognized health authorities and avoid spreading misinformation regarding the outbreak.
Broadcasting
Metro Digital, Nigerian Firm Accuses Multichoice Of Refusal to Obey Court Judgements

Metro Digital Limited, a licenced Indigenous broadcasting organisation, has accused Multichoice, pay television company, of refusing to obey judgements emanating from Courts in Nigeria.

It said the latest of such judgements is the one that was delivered by Justice Chinelo Odili of Rivers State High Court on May 4, 2026 in Suit No. PHC/3943/FHR/2025.
Dr. Paul Osuji, operations manager of Metro Digital, at a press conference in Port Harcourt, Rivers State,
said the suit was filed by the organisation and two others against Multichoice and the Economic and Financial Crimes Commission (EFCC).
Osuji stated that Justice Odili has in the judgement described the arrest of a staff member of the company and the carting away of it’s properties and disruption of it’s broadcasting business by the EFCC over a civil dispute of copyrighy as unlawful and violations of the applicants’ rights.
The manager recalled that in October 2025, Multichoice instigated the EFCC to read their office in Port Harcourt, arrested a staff of the company and staff of another company, while the suit was still pending.
“On October 16, 2025, the premises of Metro Digital Limited, a licenced indigenous broadcasting organisation was raided by the Nigerian anti-graft agency, EFCC, instigated by Multichoice Nigeria, purportedly acting on a preservation order made by the Federal High Court sitting in Port Harcourt over the sub licensing of broadcasting content right.
“The preservation order came from a civil dispute already adjudicated by the Court of Appeal No. CA/CS/188/2021 – Multichoice Vs Metro Digital Limited and 20 others, which is a subject of a pending appeal -No. SC/CV/1248/2022 -Multichoice and 20 others before the Supreme Court.
“Instructively, while suit No. PHC/ 3943/ FHR/2025 was still pending, Metro Digital Limited filed an application to set aside the said preservation orders of the Federal High Court sitting in Port Harcourt and presided over by Hon. Justice A.T Mohammed.
“In his ruling delivered on December 10, 2025, set aside the preservation orders and it’s legal execution on Metro Digital Limited. The court also ordered EFCC to return unconditionally all the properties and records of Metro Digital Limited, illegally and unlawfully carted away during the raid but the agency has till today not obeyed those orders of the Court,” he said.
Metro Digital Limited is known for operating SLTV, a direct-to-home satellite television service launched to provide affordable, locally-owned alternatives to international pay TV
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