General News
Well-developed capital market’ll catalyse economic, infrastructure devt — Obaseki

Gov. Godwin Obaseki of Edo on Thursday said that a well-developed capital market would catalyse economic growth and infrastructure development, as well as long-term investments.
Obaseki spoke at the hybrid 25th annual Stockbrokers Conference organised by the Chartered Institute of Stockbrokers (CIS) in Lagos.
The News Agency of Nigeria (NAN) reports that the ongoing two-day conference has the theme: “Capital Market as a Catalyst for Economic Development and Sustainable Growth”.
Obaseki cited the capital market as having a symbiotic relationship with the economy to serve as a key enabler for governments at all levels to access capital for infrastructure development.
Speaking on the infrastructural deficit in the country, the governor pointed out that Nigeria required in excess of N357 trillion over the next five years to fund its development.
He said that at least 70 per cent of this funding would have to come from the private sector, which meant that the capital market would be largely responsible for a large percentage of this.
Obaseki said that there was a nexus between the development of a country’s capital market and the economy as reflected in the percentage of market capitalisation to the Gross Domestic Product (GDP) of developed economies globally.
Commenting on the multiple exchange rates in the country, Obaseki cited continents like Europe, U.S. and Asia as having free capital movement and exchange rate stability.
He said that these had attracted more capital and development to their capital markets.
“In the U.S., the market capitalisation is 143 per cent of GDP, Canada has 124 per cent, Japan 92 per cent, but that cannot be said of Nigeria or most emerging countries.
“As you are aware, we need capital markets so we can attract long term development and achieve financing development, and the capital market can help the government to improve rapid development.
“Capital market is a significant contributor to our own economic development, and so for Nigeria to become part of the league of countries with strong economies, it must have a well developed capital market,” Obaseki said.
He noted that stockbrokers belonged to that segment that had a capacity to mobilise and allocate medium to long term capital for the country’s development, and the market was a catalyst for socio-economic development and sustainable growth.
Obaseki called for improvement regarding the ease of doing business to create more incentives for people to come and invest in the market.
He said there was the need to relax capital control measures and promote exchange rate uniformity.
The Chairman, House Committee on capital market, Rep. Babangida Ibrahim, said the theme was timely, as it presented opportunities for stockbrokers to fashion out better ways to assist the government in revitalising the economy.
He said that the CIS conference had come at a time the parliament was embarking on the legislative activities in the passage of the 2022 appropriation bill submitted to the National Assembly by President Muhammadu Buhari.
The house committee chairman urged the stockbrokers to employ their professionalism in collaborating with the legislature in the process.
The Governor of Osun, Mr Gboyega Oyetola, represented by the Commissioner for Finance, Mr Bola Oyebamiji, said in his keynote address that the institute had played a critical role in revitalising the economy.
In his address of welcome, the President/Chairman of Council, Mr Olatunde Amolegbe, had said that activities such as national workshops and conferences were ultimately aimed at sustaining the institute’s advocacy role .
According to Amolegbe, this year’s conference delved deep into the area of macroeconomics on how government, corporate bodies and individual investors can harness investment opportunities through the capital market.
He noted that the Institute was on record as being one of the first organisations in Nigeria to embrace technology as its new way of life and was the first professional body to conduct a full-fledged computer-based examination diet.
The Group Chief Executive Officer, Nigerian Exchange (NGX) Group, Mr Oscar Onyema, said that there had been increased discussions around the capital market development, which was crucial to economic growth and sustainability.
NAN reports that the institute inducted 321 new Associates and 40 Fellows during the conference.
The CIS also pledged its continuous advocacy towards attracting more participants into the Nigerian capital market. (NAN)
General News
Clergy Urged To Put Members’ Welfare Above All Else

At a solemn ordination service in Abuja, senior church leaders have called on pastors to make the well-being of their congregations a top priority, following the example of Jesus Christ.
Speaking during the priesthood ordination and installation of a Sub Dean at the Cathedral Church of Advent, Life Camp, Abuja, the retired Bishop of the Anglican Diocese of Okene, Rt. Rev. Emmanuel Ajulo, described pastors as shepherds charged with the care of their flock. He urged them to shun worldly distractions and focus on meeting the spiritual and material needs of their members.
Bishop Ajulo also encouraged the newly ordained priests to remain faithful to their calling by teaching God’s word without compromise.
In his charge, the Primate of the Church of Nigeria, Anglican Communion, Most Rev. Henry Ndukuba, urged the new clergy to preach the undiluted gospel and foster religious harmony wherever they serve. He expressed confidence that their new roles would help promote peace and unity in society.
The service also featured prayers for national leaders and divine intervention in addressing the current global economic challenges.
General News
1,000 Prayer Warriors Storm Ilorin for Tinubu, Nation’s Deliverance

In a dramatic show of faith and patriotism, over 1,000 fiery prayer warriors from across Nigeria will descend on Ilorin, Kwara State, this Saturday, lifting their voices in intense intercession for President Bola Tinubu’s success and Nigeria’s survival in the face of biting economic woes and mounting insecurity.
The spiritual siege, themed “Walking in Domini”, is the maiden convention of the Organisation of African Instituted Churches (OAIC), with its Kwara State Chairman, Evangelist Thomas Adeboye, vowing that “heaven will hear and respond to Nigeria’s cry.”
Aside from marathon prayers, the gathering will roll out free medical outreach to locals across Kwara’s LGAs, a gesture aimed at touching both body and soul.
Adeboye, lamenting Nigeria’s “troubling economic and security realities”, called for a nationwide prayer uprising, insisting that Tinubu has shown the will to revive the nation but needs massive divine backing to succeed.
“Banditry, a collapsing economy, and political tension demand we seek God’s face like never before,” he declared. “We will storm heaven for wisdom for the President and governors to steer Nigeria to safety.”
The convention will also feature awards to distinguished personalities, soul-lifting worship, fiery sermons, and unity-driven lectures—all capped with thunderous prayers for Nigeria’s redemption.
Adeboye urged the President to ensure every policy has “a human face,” stressing that Nigerians must not only endure but also enjoy the fruits of governance.
With the OAIC promising to reaffirm believers’ authority in Christ and rally spiritual boldness in the face of national challenges, Ilorin is set to become the epicentre of a powerful spiritual warfare for Nigeria’s destiny.
General News
Nigerian Anglicans Condemn Lesbian Archbishop of Wales, Deepening Global Anglican Rift

…Church leaders accuse Welsh counterparts of “spiritual decadence” and “abandonment of faith”
The Church of Nigeria (Anglican Communion) has issued a forceful condemnation of the election of Rt. Rev. Cherry Vann, an openly lesbian cleric, as the Archbishop of Wales. The move is the latest in a series of developments that have deepened divisions within the global Anglican Communion over sexuality and doctrine.
In a statement from Primate The Most Rev’d Henry Ndukuba, the church denounced the election as a “serious departure from biblical teaching” and a sign of “spiritual decadence” and “an outright abandonment of the faith once delivered to the saints.”
Archbishop Ndukuba warned that Bishop Vann’s elevation compromises the Anglican Church’s global mission and could obstruct evangelism. He compared the situation to the controversial tenure of Most Rev. Katherine Jefferts Schori, former Presiding Bishop of the U.S. Episcopal Church, who also faced intense criticism from conservative Anglicans for her progressive views.
The Primate accused Bishop Vann of being complicit in the “ongoing crisis” around same-sex issues, stating that the election is a “clear revelation that many who claim to be members of the body of Christ cannot endure sound doctrine” (2 Timothy 4:3–4).
The Church of Nigeria called on Anglicans worldwide to reject “rebels” and “apostates” and to instead support conservative bodies like the Global Anglican Future Conference (GAFCON).
“The Church of Nigeria (Anglican Communion) condemns, unequivocally rejects, and will not recognize the election of Rt. Rev. Cherry Vann as Archbishop of Wales,” Ndukuba declared. He concluded with a solemn warning that without repentance, the Church in Wales risks losing “complete relevance” and its leaders will face judgment.