IMO BREAKING NEWS BLOG

The Securities and Exchange Commission (SEC) has vowed to take stringent action against market operators engaging in unethical practices, emphasizing its commitment to investor protection.

Speaking in Abuja, SEC Director-General Dr. Emomotimi Agama stressed that only fit and proper individuals would be allowed to operate in Nigeria’s capital market. He warned that violators would be publicly exposed, stating, "There is no hiding place for those intending to defraud investors."

Agama reaffirmed SEC’s zero-tolerance policy for infractions in 2025, ensuring strict compliance with the Investments and Securities Act 2007. 

Samsung Electronics co-CEO Han Jong-Hee has died at the age of 63 after suffering cardiac arrest, a company spokesperson confirmed on Tuesday.

Han, who joined Samsung in 1988, had been leading the company’s consumer electronics and mobile divisions since 2022. He was also the vice chairman and played a key role in Samsung’s growth despite market challenges.

In an internal message, Samsung praised Han’s 37-year contribution, particularly in making its TV business a global leader. “Our deepest condolences go to his family and loved ones,” the statement read.

Han chaired an investor meeting last week, where he acknowledged Samsung’s stock struggles and outlined plans for mergers and acquisitions to drive growth in 2025.

No successor has been announced yet. 

The Niger State Police Command has arrested a man identified as Mubarak, suspected to be mentally unstable, for allegedly stabbing 25-year-old Shamseen Danshehu to death.

The incident occurred on Sunday evening in the Kwangila area of Minna, where Mubarak reportedly engaged Danshehu in a fight before stabbing him in the chest. The victim was rushed to Minna General Hospital but was pronounced dead on arrival.

Residents, who frequently saw Mubarak scavenging through refuse bins, said they were unaware of what triggered the altercation.

Police spokesperson Wasiu Abiodun confirmed the suspect’s arrest, stating that investigations are ongoing. 

Rivers State Sole Administrator, Vice Admiral Ibok-Ete Ekwe Ibas (retd.), has appointed Professor Ibibia Lucky Worika as the new Secretary to the State Government (SSG).

In a statement on Tuesday, Ibas said Worika’s appointment followed a thorough selection process, citing his extensive experience in academia, international legal practice, and policy advisory roles as key qualifications.

The statement emphasized that Worika’s expertise would support the administrator in fulfilling President Bola Tinubu’s mandate and advancing peace, stability, and security in the state.

This marks Ibas' first major appointment since assuming office on March 18, 2025, following the declaration of a state of emergency in Rivers State.

Meanwhile, Dr. George Nwaeke, the Rivers State Head of Civil Service under the suspended governor, resigned on Tuesday. 

The head of the UK’s National Grid, John Pettigrew, has stated that Heathrow Airport had "enough power" to remain operational despite the electrical substation fire that forced its closure on March 21, 2025.

The shutdown, which lasted almost a day, disrupted thousands of passengers and flights worldwide, sparking concerns over the reliability of the UK’s busiest airport.

Pettigrew told the Financial Times that power was still available through two other substations, emphasizing that each substation alone could supply Heathrow's power needs.

“Losing a substation is a rare event, but there were two others available,” he explained.

However, airport officials attributed the closure to the time required to safely transition power to the other substations and reboot critical systems.

“Hundreds of essential airport systems had to be safely shut down and restarted, making the process highly complex,” a Heathrow spokesperson said.

Heathrow CEO Thomas Woldbye added that a backup transformer failure forced them to restructure power supplies before resuming operations.

The UK government has launched a six-week investigation into the incident, which disrupted 1,350 flights and forced 120 Heathrow-bound planes to divert.

Meanwhile, fire officials have classified the Thursday night blaze as non-suspicious, focusing their probe on electrical distribution equipment. 

Gunmen have abducted Rev. Fr. John Ubaechu, the Parish Priest of Holy Family Catholic Church, Izombe, along Ejemekwuru Road in Oguta LGA, Imo State.

The Catholic Archdiocese of Owerri confirmed the incident, which occurred on Sunday, March 23, while he was en route to a priests' retreat. The Church has called for prayers for his safe release.

This marks another abduction of a priest in the area, following a similar incident in 2023. Police authorities have yet to comment on the development.