Connect with us

General News

IT Will Ease Registrar’s Job, Capital Market – Ogogo

Published

on

David Ogogo
Kindly share this post

Dr.  David Ogogo, is the Registrar and Chief Executive of Institute of Capital Market Registrars; an Associate of the prestigious Association of Business Executives (London), he holds an Advanced Diploma in Business Administration and Masters Degree in Business Administration (MBA) from Lagos State University. He is an Associate of the Chartered Institute of Marketing of Nigeria, a member of the Nigeria Institute of Strategic Management (MSM) and holds a PhD in Corporate Leadership and Governance from the European-American University. Dr. Ogogo worked and held various Senior Management positions in Union Bank Plc, Union Bank Registrars Department, corporate Trust Ltd (a Finance House), Anchoria Investments & Securities Ltd  (a stockbroking outfit), Business Innovators Ltd (a management consulting outfit), among others prior to his new job. He spoke with Peter Ugwu.

 

 

Place of Capital Market in Economic Development

The capital market is a securities market that deals with long-term maturity funds. Some people call such securities shares, but that does not cover the entirety of the market. Is a provision or arrangement made for companies to raise fund and for others to invest. That is, both those in surplus and deficit unit come to the market. Who are these people? The deficit unit comprises of organizations publicly quoted and coming to raise money. For instance, when someone buys First Bank shares, the person is in surplus unit, because he is investing in First Bank, so the capital market makes it possible for organizations to raise money for the sake of expansion. It also provides liquidity for investment funds from the standpoint of the individual and the economy. This role differentiates it from the money market that usual goes with short-term investment. The market serves as a measure of confidence in the economy and as an important economic barometer. But due to the short fall of the capital market, most investors are now becoming shy that they now patronize debentures, bonds and such likes. However, we must note that if the capital market is dead, the financial system of the country can not function well. The market is such platform that provides industrial management with some ideas of the current cost of capital through its pricing mechanism, as an important issue in determining the level and rate of investment. It encourages inflow of foreign capital when multinational companies or investors invest in domestic securities. Apart from that, the market provides the opportunities for government to finance development oriented projects.

Market Segmentation

Basically, there are two markets within the Capital Market. We have the primary and secondary markets. The former is for fresh or new securities while the latter is for existing securities. The difference is very simple. The market for fresh securities means that new securities are been introduced for the first time like the Initial Public Offers (IPOs). These are offers by either subscription, but they are coming to the public. For instance, if a company is coming to raise money from the capital market; the first contact is the issuing house. I call them the ‘Coordinators of New Issues’. So the issuing house will invite other parties like the Brokers, Solicitors, Registrars, Report Accounts and other professionals in the industry. They are all participating because of the prospects or offers.

Registrars

A prospectus is normally prepared for every offer or issue in the primary market. It rests on the shoulder of the registrars to distribute the prospectus to receiving agents. They make use of courier companies or bulk post ventures to send them out. At the end of every offer, of course share certificates are produced by them as well. Previously, registrars travel from one place to another to mail these things themselves. Many thought it was not fashionable to use courier services. Presently, that responsibility is made easier because courier companies are retained to perform that job. In the case of over-subscribed offers, money returned cheques are prepared by registrars for mailing to the investors concerned.

Business Opportunities for Courier companies

Courier and bulk post companies form part of stakeholders in the capital market because of the delivery system. Nevertheless, I would advise them to take note of something while reading newspapers. Usually, companies announce their Board Meetings, probably a completion board meeting because not all board members participated in the last meeting. So the board members, investors and representative of the Securities and Exchange Commission (SEC) have to witness the signing ceremony in support of presented document. Immediately after that, courier companies should know that there are opportunities for grab – it is them to liaise with the registrars. Even in the Secondary Market by the virtue of Companies and Allied matter Act (CAMA), all companies, especially publicly quoted ones are expected to hold their Annual General Meeting (AGM) once a year, and notices are expected to be sent to shareholders 21 days before the date of the meeting. Registrars, therefore retain the services of courier companies to send out annual reports and accounts. At times dividends are declared at AGMs, when this happens, registrars print the relative dividend warrants and courier companies are invited to assist in their dispatch and mailing. 

De-materializing

The market is considering ‘e-Offer’. Already, I have recommendations on Registrars’ IT Infrastructure Review Committee’s Report, which has been with the SEC for about two years now. Although they have not come up with decision due to the public hearing in Abuja, but we are scheduling to meet them. After that, there will be ‘e-Offers’. So, even the documents that have been flying here and there would have been reduced and that portends some danger for the courier service operators. But we should not distant ourselves from innovations in business. You must innovate to survive. By de-materializing, like is applicable in developed countries, we will not be producing share certificates any longer. We want to go paperless. So, if that happens, what will the courier agents carry from one place to another? Is it the flash or CD plates? Definitely, that can’t sustain anyone. So my charge is for them to cue-in to the paradigm shift. Think of what you can do to be part of it.

Complaints

Both the registrars and the courier companies have various complaints. The registrars complain of dumping of mails by companies commissioned to execute certain contracts; loaded bills; delay in providing proof of delivery and difficulty in tracing missing items. On the missing item, when problems occur in the market, the first point of call is the Registrars’ table. Infact, SEC in one land mark decision defined the registrars as the utmost custodians for the nation’s capital market, because the most important documents in the market are created, updated and handled by them. So when items are missing you see people coming to complain of not receiving their certificates even when they have been dispatched five months back. So, the registrars are put in a fix when the courier companies fail to leave up to expectations. We must get it right to remain in business.    


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Continue Reading
Advertisement
Comments

General News

WHO Says Ebola Risk Now at Highest Level

Published

on

Kindly share this post

World Health Organisation (WHO), yesterday, said that Ebola outbreak is “very high” but added that the global risk remains “low”.

WHO Says Ebola Risk Now at Highest Level

So far, 82 cases and seven deaths have been confirmed in the Democratic Republic of Congo (DRC), but WHO, said, the real scale of the outbreak is likely far larger, with nearly 750 suspected cases and 177 suspected deaths reported

Tedros Adhanom Ghebreyesus, chief, WHO, said the situation was “deeply worrisome”.

He said there were now nearly 750 suspected cases in the DR Congo and 177 suspected deaths, as health workers scramble to track down contacts of everyone thought to be infected with the virus.

“The Ebola outbreak in the Democratic Republic of the Congo is spreading rapidly,” he told a press conference.

“So far, 82 cases have been confirmed in DRC, with seven confirmed deaths.

“But we know in people who travelled from DRC and one death.

Measures to address the epidemic in DRC are much larger.

There are now almost 750 suspected cases and 177 suspected deaths.”

He said the situation in Uganda was “stable”, with two cases confirmed in Uganda, including “intense contact tracing” and calling off the Martyrs’ Day commemorations, “appear to have been effective in preventing the further spread of the virus”, Tedros added.

While a US national who was working in the DRC has tested positive and been transferred to Germany for care, Tedros said another US national deemed to be a high-risk contact had been transferred to the Czech Republic.

Besides national staff already in the DRC, he said 22 international staff had been deployed to the field, “including some of our most experienced people”.

Tedros said that violence and insecurity were impeding the response to the outbreak in the DRC.

“We are now revising our risk assessment to very high at the national level, high at the regional level, and low at the global level.

“So far, 82 cases have been confirmed in DRC, with seven confirmed deaths.

“But we know the epidemic in DRC is much larger. There are now almost 750 suspected cases and 177 suspected deaths.

“The situation in Uganda is stable, with two cases confirmed in people who travelled from DRC, with one death.”

Tedros said that violence and insecurity were impeding the response to the outbreak.

 

 


Kindly share this post
Continue Reading

General News

Army Acquires New Drones to Boost Surveillance, Precision Strikes — COAS

Published

on

Kindly share this post

Nigerian Army has acquired additional drones and other advanced force multipliers to strengthen surveillance operations, improve target acquisition, and enhance precision strike and casualty evacuation capabilities.

Army Acquires New Drones to Boost Surveillance, Precision Strikes — COAS

Lt.-Gen. Waidi Shaibu, chief of Army Staff (COAS), said that the new drones will boost surveillance, precision strikes.

Shaibu, who disclosed this in a statement shared via the Nigerian Army’s official X handle, noted that the conference provided a platform for critical assessment of ongoing operations and the development of forward-looking strategies to address Nigeria’s evolving security challenges.

He said deliberations at the Nigerian Army Conference Centre, Asokoro, focused on sharpening operational responses, strengthening training frameworks and adapting to the demands of modern security warfare.

According to him, the resolutions reached are aimed at building a more agile, combat-ready, technologically driven and mission-oriented force capable of responding effectively to emerging threats.

A key highlight of the reforms is the Army’s increasing investment in modern warfare technology, including the acquisition of additional tactical drones and the reconfiguration of Army aviation assets for combat roles.

Shaibu explained that these developments have significantly enhanced intelligence gathering, precision targeting, operational mobility and casualty evacuation across various theatres of operation.

He also highlighted ongoing improvements in recruitment, advanced training, professional military education and leadership development, stressing that discipline, competence and meritocracy remain central to building a stronger institution.

Reaffirming his “soldier-first” philosophy, the COAS said troop welfare remains a top priority, stressing that “troop welfare remains non-negotiable; well-motivated soldiers operating in conducive environments are critical to mission success.”

He urged senior officers to ensure that resolutions from the conference are fully implemented in field operations, stressing that the true value of the gathering lies in measurable impact on the battlefield.

Describing the ongoing reforms, Shaibu said: “We are not just reforming the Army; we are building a lethal, technology-driven fighting force where only discipline, merit, and mission success matter.”

The Army Chief expressed appreciation to President Bola Ahmed Tinubu for his support, as well as the Minister of Defence, Minister of State for Defence, Chief of Defence Staff, service chiefs and intelligence agencies for their continued collaboration.

The conference ended with the presentation of commendation plaques to senior officers recognized for outstanding contributions to operational effectiveness.

 


Kindly share this post
Continue Reading

General News

UK Special Envoy for Freedom of Religion or Belief Concludes Visit to Nigeria

Published

on

Kindly share this post

The UK Special Envoy for Freedom of Religion or Belief (FoRB), David Smith MP, concluded a three-day visit to Abuja this week, marking Nigeria as the first focus country he has visited under the UK’s FoRB strategy.

During the visit, David Smith MP held a wide range of meetings with senior Nigerian government officials, religious leaders, civil society organisations, and local communities – reflecting the UK’s commitment to sustained, practical engagement and partnership on freedom of religion or belief in Nigeria.

Meetings included discussions with the National Security Adviser, Mallam Nuhu Ribadu, the Honourable Minister of Information and National Orientation, Mohammed Idris, and the Governor of Plateau State, Caleb Mutfwang.

The Special Envoy also met with the co-chairs of the Nigeria Inter-Religious Council, Archbishop Daniel Okoh, President of the Christian Association of Nigeria, and HRH the Sultan of Sokoto, Muhammadu Sa’ad Abubakar III, President-General of the National Supreme Council for Islamic Affairs.

At the end of the visit, the UK Special Envoy for Freedom of Religion or Belief, David Smith MP, said: “Over the past few days, I have been honoured to meet a wide range of people — from senior government figures and civil society to faith leaders and local communities. I came to listen, learn, and see both how freedom of religion or belief is experienced in everyday life, and how it connects to – and is a core part of addressing – Nigeria’s wider challenges around security and cohesion.

“Some of the most powerful moments of this visit were at community level. Visiting Father Emmanuel Unamba’s parish and meeting Christian and Muslim neighbours living side by side was a real reminder that peaceful coexistence is something people build every day through leadership, dialogue, and shared responsibility.

“What I take away from this visit is the importance of further progress being Nigerian led, rooted in strong institutions and inclusive dialogue, with FoRB at its heart. The UK will continue to support practical efforts in ensuring greater peace, security and prosperity for all.”

The visit also included a roundtable with partners of the UK’s Strengthening Peace and Resilience in Nigeria (SPRiNG) programme, a £38 million UK government-funded conflict and resilience programme operating primarily in Kaduna, Katsina, Benue and Plateau states.

During the visit, Special Envoy David Smith MP held meetings with the Institute for Peace and Conflict Resolution, the Nigerian National Human Rights Commission, and civil society organisations working at the intersection of insecurity and religious freedom. He also visited the National Mosque and the National Ecumenical Centre in Abuja.

Speaking to the various stakeholders, Mr Smith called for greater tolerance across religion or belief in Nigeria and hoped that the cohesion he saw on a community level in the capital, could be achieved nation-wide with the same resolve. He hoped to continue these dialogues with interlocutors in the UK.

The visit builds on the momentum of President Tinubu’s State Visit to the United Kingdom in March 2026, which reinforced the UK-Nigeria Strategic Partnership and included interfaith events attended by President Tinubu and His Majesty The King, underlining both countries’ shared commitment to fostering constructive interfaith dialogue.


Kindly share this post
Continue Reading

Trending