Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda has admonished Nigerians to be mindful of unregistered investment schemes.

This was stated on Thursday by Yuguda at the post-capital market committee (CMC) virtual press briefing.

Yuguda said any investment scheme not registered with the commission was not a bonafide capital market operator.

He asked investors to always verify with SEC to know the licensed operators before investing.

“SEC can register a capital market operator, and that operator in the cause of his business begins to show signs of distress, the SEC has an adequate mechanism to deal with this through our monitoring and enforcement arm,” he said.

Yuguda expressed concern over the high level of unclaimed dividends.

He said, although dividends were currently distributed electronically, there were so many unclaimed ones in the market.

He attributed the unclaimed dividends to multiple subscriptions whereby some investors use various means to subscribe for more than the permitted number of shares during public offers.

He added that the number of unclaimed dividends would reduce drastically if everyone mandated their accounts.

According to him, SEC has invested a lot of resources and embarked on a number of investor education to ensure that people mandate their accounts.

“This process is still open, you can do that with the registrar, from commercial banks,” he said.

“We also have on our website, a tool which helps you to determine any unclaimed dividend that you may have and I will encourage everyone to take advantage of these tools.”

Yuguda said dividends that had not been claimed over a certain period were being transferred into a trust fund.

According to him, if anyone comes forward at any given time to claim their unclaimed dividend, the fund will be able to repay those dividends without any problems.

The CMC is a platform for capital market stakeholders to discuss issues pertaining to the development and orderly conduct of market activities.

The Executive Governor of Zamfara State, Hon. Bello Mohammed Matawalle has appointed Alhaji Bashar Isma’il Ari as the new Emir of Moriki Emirate.

Speaking during the ceremony held at the Government House, Gusau, the State capital, Governor Matawalle said the appointment of the new emir followed the demise of his late father, who was the Emir of Moriki, Alhaji Isma’il Muhammad Ari II.

“The conferment of the appointment was based on the recommendations of the Kingmakers of Moriki Emirate council, who rated the new Emir as the most suitable among those who contested for the throne of Moriki Emirate.

“The traditional leaders play vital roles in the security of lives and properties of the urban and rural dwellers because the traditional leaders are identified to be closer to their people,” he said.

While congratulating the new Emir for ascending the throne of his forefathers, the Governor enjoined him to carry all his subjects along for the unity and progress of Moriki Emirate Council and Zamfara State in general.

“My administration will continue to respect the traditional institutions as the custodian of our religion, norms and culture,” he added.

He also charged the people of the Moriki Emirate to give their maximum support, loyalty, and cooperation to the new monarch to ensure that peace and tranquility reigned in all parts of the Emirate.

Responding, the new Emir of Moriki, Alhaji Bashar Isma’il Ari, who spoke through the Emir of Kaura Namoda, Alhaji Sanusi Muhammad Asha thanked the Governor for the honour done to the new emir.

The monarch assured the Governor that he will do his best to ensure unity, sustainable peace, and development in the Emirate to justify the confidence reposed in him by the Governor and his people.

The occasion was attended by the State Deputy Governor, Senator Hassan Muhammad Nasiha Jarman Gusau, Speaker Zamfara State House of Assembly, Right Hon Nasiru Muazu Magarya, former Deputy Governor, Alhaji Muktar Ahmed Anka, Emir of Anka, and Chairman State Council of Chiefs, Alhaji Attahiru Muhammad Ahmed.

Others include Special Adviser to Governor Matawalle on Chieftaincy Affairs, Alhaji Yusuf Zugu Wazirin Gummi, as well as other senior government officials.

The house of representatives has called on the ministry of power and the Standard Organisation of Nigeria (SON) to “immediately establish” a sustainable policy toward phasing out non-energy efficient appliances and equipment for domestic, commercial, and industrial usage.

The resolution was passed on Thursday by the lower legislative chamber passed the resolution at the plenary session following the adoption of a motion sponsored by Rotimi Agunsoye, a lawmaker from Lagos.

While moving his motion, Agunsoye said energy-efficient appliances are being used in countries all over the world, which is important for environmental sustainability.

“Energy-efficient appliances help prevent greenhouse emissions and protect the environment as most households use appliances such as televisions, refrigerators, sound systems, computers, ovens, bulbs, air conditioners, and washing machines,” he said.

“Countries across the world are using energy-efficient appliances, which is critical to economic development as well as environmental sustainability.

“Households in Nigeria still use incandescent bulbs with high voltage, which are very expensive and generate too much heat. In some households, incandescent bulbs have been replaced with light-emitting diodes (LED) bulbs, which are up to ninety percent more efficient than incandescent bulbs.

“The crisis in the country’s power sector will persist if a decisive approach is not employed to controlling domestic, commercial, and industrial usage by adopting more efficient means to reduce energy consumption.

“Using energy-efficient appliances and equipment minimizes the exploitation of natural resources such as natural gas, coal, water, diesel, petrol, etc., and serves to enhance the conservation of these resources as a way of achieving sustainable development.

“Other countries have stopped the use of high consuming appliances and equipment, Nigeria has become a dumping ground for such items which come at a considerably cheap price.”

While advocating for the import of low energy appliances, the legislator said continued use of non-energy efficient products will impact negatively on the economic stability of the country.

The motion was adopted when it was put to a voice vote by Idris Wase, deputy speaker of the house.

Following that, the house mandated the committees on power and industry to ensure compliance and report back within four weeks for further legislative action.