Nigerian Stock Market Records Loss Of N238 Billion In Profit Taking

December 29, 2021

The Nigerian stock market has recorded a loss of N238 billion due to profit taking. The market capitalisation which opened at N22.060 trillion lost N238 billion or 1.08 per cent to close at N21.822 trillion today, December 29.

Also, the All-Share Index inched lower by 455.75 points or 1.08 per cent to close at 41,807.10 against 42,262.85 achieved on Friday.

Accordingly, month-to-date loss increased to 3.3 per cent, while the year-to-date gain moderated to 3.8 per cent.

The market resumed trading activities after the public holidays on December 27 and 28 declared by the federal government to mark Christmas and Boxing Day celebration.

The market’s negative performance was driven by price depreciation in large and medium capitalised stocks which are: BUA Cement, MTN Nigeria Communications (MTNN), PZ Cussons, May & Baker and Ecobank Transnational Incorporated.

Market sentiment was slightly positive with 17 gainers relative to 16 losers.

BUA Cement led the losers’ chart by 10 per cent to close at N67.05 per share.

May & Baker followed with a decline of 9.98 per cent to close at N4.06, while PZ Cussons lost 8.96 per cent to close at N6.10 per share.

Jaiz Bank declined 8.06 per cent to close at 57k, while UPDC Real Estate Investment Trust shed 6.25 per cent to close at N3.75 per share.

Conversely, Union Bank of Nigeria drove the gainers’ chart in percentage terms by 9.91 per cent to close at N6.10 per share.

Royal Exchange followed with 9.09 per cent to close at 84k, while Sovereign Trust Insurance rose by 7.69 per cent to close at 28k per share.

Livestock Feeds was up by 6.86 per cent to close at N2.18, while Caverton Offshore Support Group appreciated by 2.99 per cent to close at N1.72 per share.

However, the total volume traded increased by 61.10 per cent with an exchange of 180.182 million units valued at N1.48 billion exchanged in 3,828 deals.

This was in contrast with 111.84 million shares worth N911.92 million traded in 2,072 deals on Friday.

Transactions in the shares of Jaiz Bank topped the activity chart with 17.65 million shares valued at N10.53 million.

Union Bank followed with 16.80 million shares worth N101.83 million, while UACN traded 12.88 million shares valued at N123.52 million.

Transcorp sold 11.39 million shares worth N11.25 million, while Sovereign Trust Insurance transacted 9.99 million shares valued at N2.78 million.

Source: NAN.

Why Over 1 Million COVID19 Vaccines Expired And Were Destroyed Recently – NAFDAC Boss

Editorial staff

December 29, 2021

Director-General of National Agency for Food and Drug Administration and Control (NAFDAC), Professor Mojisola Adeyeye, has explained why over one million doses of COVID19 vaccines expired and were recently destroyed by the agency.

It was reported that the 1,066,214 doses of expired AstraZeneca COVID-19 vaccines were destroyed at the Gosa Dumping site in Abuja in November and were supervised by both the NAFDAC and the National Primary Health Care Development Agency and the Abuja Environmental Protection Agency.

Professor Adeyeye, who spoke today, December 29 in Lagos, said that the expired vaccines had very short expiration which made it impossible to be administered in time due to logistics reasons.

“When developed countries started using vaccine for many months, we didn’t have access to them until we started receiving donations, not just through COVAX alone but from some countries also.

“The expiration date was shorter than what it was supposed to be and between the time we tested and start using it, there was no enough time and that was the only reason not because we were careless.

“But going forward, we are working with international partners to ensure the expiration date of any vaccine we will be receiving are up to five or six months.”

On the new Omnicron variant of COVID-19, the Director General of NAFDAC said that studies on the variants is still ongoing globally.

She advised Nigerians to continue to adhere to the safety measures given by the various health authorities to further curb the spread of the virus.

“A lot is still not known about Omicron because studies are still going on globally about the variant.

“The only way to keep safe is to continue with the usage of mask, maintain social distancing, wash our hands regularly and avoid crowded areas to stay safe.”

Lagos Farmers Begin Canned Catfish Production Next Year

Editorial staff

December 28, 2021

Fish farmers in Lagos State will start to produce locally canned catfish and Tilapia fish in 2022.

The project will be promoted by the productivity Enhancement and Livelihood Support, a

World Bank-assisted Agro-Processing organization.

The Project Coordinator, Mrs. Oluranti Sagoe-Oviebo, who spoke to the News Agency of Nigeria (NAN) on today, December 28 in Lagos, said that the canned fish would be produced using locally-fabricated equipment.

She said that the focus is on the use of locally-fabricated equipment to create jobs for Nigerians.

“We trained some fabricators who looked at the foreign-made machines, studied and fabricate them locally.

“The fabricators have looked at the different equipment and they have been able to fabricate quite a number of them making them affordable by our farmers.

“We are trusting God that by early next year, a number of our investors, will be able to adopt them on their own.”

Sagoe-Oviebo said that about 80 farmers have been trained in basic techniques of preparation, packaging and marketing of canned fish.

She said that the training is conducted in collaboration with the National Institute of Oceanography and Marine Research covering temperature for boiling fish, tomato sauce preparation, temperature for canning the fish and pasteurisation.

She added that the canned fish would be affordable to Nigerians, and could boost exports.

“We have identified some investors already amongst those that have been trained and some people are interested in setting-up their mini factories.

“The process is basic for any fish you desire to can, but for this project, we are using catfish and tilapia.”

Minister Commends Abuja Residents For Salvaging Goods From Burning Next Supermarket

Editorial staff

December 28, 2021

Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello has commended Abuja residents for rushing to salvage some goods from the burning Next Cash and Carry Supermarket.

The Supermarket was engulfed in flames on Boxing Day, December26

The Minister, accompanied by the FCT Commissioner of Police, Sunday Babaji, the Coordinator, Abuja Metropolitan Management Council (AMMC), Umar Shuaibu and senior officials of the Administration, paid an inspection visit to the scene of incidence today, December 28.

Muhammad Musa Bello said that the fire incident brought out the best in the residents of the city as they rallied round the business establishment and helped in salvaging goods which would otherwise have been lost to the fire.

He also commended the supermarket for having a functional fire hydrant system which assisted the Departments of fire services in controlling the blaze and prevent its further spread.

The Minister thanked God that no life was lost, even as he sympathized with the management of the supermarket on the loss.

He recalled that Next cash and Carry supported the FCT at the height of the COVID-19 pandemic, donated palliatives to the needy, saying, “I really sympathize with NEXT.

“I feel so particularly because I recall during the peak of the COVID-19, NEXT, was among the companies that provided us palliative items which we distributed to vulnerable members of the community.

“Unfortunately, today they are also very vulnerable…so it is our duty in the city to rally round them, protect this important investment and generator of many jobs, and also give them all the needed support so that they bounce back stronger than what they were before.”

The Minister said that although the inferno hit the city hard due to the loss of jobs, but that the incidences such as this affords city managers and other relevant agencies the opportunity to review what happened and make amends to prevent future occurrence and minimize damages.

The Minister was received on site by the General Manger of the Supermarket Neil Pape and the Director of the FCT Fire Service, Engr. Sanni Saidu.

I Grew Up As Motor Park Tout, School Drop-Out – Benue Gov, Ortom

Editorial staff

December 28, 2021

Governor Samuel Ortom has recounted his growing up as a motor park tout after dropping out of primary school.

The Governor, who had a Christmas get-together at the residence of his former boss, Mr Mnenge Mtenave, and commercial vehicle drivers at Ipav, Mbadim, Gboko Local Government Area of the state, said: “at a time, my boss made me a cashier and treasurer of all the money that we made weekly and gave me a blank cheque to spend at will.”

The governor said that he never took the opportunity for granted and that on every occasion, he went back to his boss for approval whenever the need arose.

Governor Ortom said that the decision to visit his former boss and celebrate Christmas with him was revealed to him during his morning devotion, adding that the visit was to appreciate Mtemave for laying the foundation for him to be what he is today.

The governor charged the people not to despise their little beginnings and encouraged them to remain committed in their service to God, saying that they should also seek formal education even at old age to brighten their fortunes.

Mtemave had invited Ortom to work as a motor boy and later taught him how to drive. They worked together at the Gboko Motor Park in the late 1970s and early 1980s.

The governor presented a Hilux Van to Mtemave and pledged to support him in any trade of his choice, even as he gave his former colleagues and communities cows, pigs, bags of rice and cash.

Speaking for the Ugbada family and the governor’s former colleagues, Abugh Vaaswem and Aondopine Tim thanked the governor for his good gesture and prayed to God to prosper him.

Mtemave also expressed gratitude for the honour done to him by the governor.

About 435 Abandoned Buildings, 600 Undeveloped Plots In Trouble In Abuja

Editorial staff

December 28, 2021

Owners of about 435 uncompleted and abandoned structures and 600 undeveloped plot of land in Federal Capital City (FCC), Abuja are facing sanctions, including revocation any moment from now.

According to a statement today, December 28, by the Federal Capital Territory Administration Director of Land Administration, Alhaji Adamu Hussaini, the sanctions are being contemplated as ways of ensuring adequate protection of lives and property in and around the city.

“In order to ensure adequate protection of lives and property in and around the 250 square kilometers of the FCC, the administration may have concluded arrangements to sanction owners of 435 abandoned/uncompleted structures.”

The director advised the owners of such abandoned and uncompleted buildings within the City to swiftly work towards the completion of those buildings.

“The security breach is of great concern to the government and it will not fold its arms to watch danger in the waiting to explode. This development has been a cause of worry for the FCT Administration.

“These abandoned and uncompleted buildings have become shelter for unintended occupants as well as other persons with criminal disposition, who use these uncompleted structures as hideout to perpetuate their nefarious activities against the residents.”

He emphasized that owners of about 600 undeveloped plots should act fast to avoid drastic action being put in place by the authorities, adding that such undeveloped plots have remained an eyesore in Abuja, in spite of huge amount of money spent to provide basic infrastructures in the districts.

Hussaini recalled that the owners of undeveloped plots scattered around the Abuja metropolis have been warned severally in the past, yet some of them have remained recalcitrant.

He said that though there exists thousands of uncollected Certificates of Occupancy in the vaults, the Department has conveyed 495 Certificates of Occupancy to owners from January to December 2021.

The director implored other allottees to come over and pick their Certificates as such act would help lubricate economic activities of the territory.

On the issuance of Rights of Occupancy within the year under review, Hussaini explained that the department released a total of 1,319 titles to the beneficiaries, saying that there are quite a huge number of uncollected Rights of Occupancy in the vaults.

The director, therefore, advised those who have applied for land in the FCT to endevour to come forward and check the status of their applications.

Hussaini said that the department had witnessed a tremendous increase in the number of fresh applications for land in the territory during the year under review.

He noted that a total number of 8,010 applications for land have been received between January and December 2021, adding that the department undertook and released 546 Certified True Copy documents to various allottees in the year under review.

Source: NAN.

There’s No Big Deal For Presidential Aides Contracting COVID19 – Femi Adesina

Greenbarge Reporters

December 27, 2021

Special Adviser to President Muhammadu Buhari on media and publicity, Femi Adesina has made it clear that there’s nothing abnormal for Presidential aides testing positive for COVID-19.

Femi Adesina, who spoke on Channels Television yesterday, December 26, said that such incidents only confirmed that the presidential aides are human and not immune to happenings around them.

“Well, what I like to say is that presidential aides are just human. They can fall sick. If anything happens to human beings it can also happen to presidential aides.

”The fact that we are presidential aides does not make us to be immune to certain things. If there is a virus that is ravaging society. Well, it can touch anybody.

”So Malam Garba Shehu has confirmed that, yes, he tested positive but he said it’s mild. And I believe that by now, because it happened since Wednesday, by now, he should almost have beaten it if he had not beaten it already. There is no cause for alarm.”

Commenting on his contact with Shehu recently, the media aide said: “Well, I also believe God for the best. If it happens, I’ll recover. So that’s it.”

Asked how many of the President’s aides in the State House have been infected, Adesina said: “no. That will not be within my purview to discuss. Maybe if you get the Presidential doctor or anybody in the medical side, they will tell you,

”I wouldn’t know because, it is a private thing. If it happens to anybody, it is between that person and possibly the doctor. It’s not going to be general knowledge.

”So I may not be able to say.”

Adesina also dismissed the fear being expressed in some quarters over the president’s health, because of his exposure to his aides, believed to have been infected with the virus.

“Well, I think Mr. President is quite fine. He is doing his normal routine, following his normal schedule. But if anybody close to him tests positive, that person is required to stay away till he tests again, and he test negative.

”So, Mr President is following his normal schedule and routine.”

Source: NAN..

Buhari Describes Bishop Tutu As Iconic Teacher, Rights Activist, Leader Of Thought

Editorial staff

December 26, 2021

President Muhammadu Buhari has described Archbishop Emeritus, Desmond Tutu, who died today, December 26, at the age of 90, as iconic teacher, human rights activist, leader of thought, scholar and philanthropist.

In a message of condolence to his South African counterpart, President Cyril Ramaphosa, people of South Africa and the global Christian body, particularly Anglican Communion, Buhari said that Tutu’s death had created a void in a world in dire need of wisdom, integrity, courage and sound reasoning.

“These were qualities that the Nobel Peace Prize Winner, 1984, typified and exemplified in words and actions.”

The Nigerian leader acknowledged the historic role Archbishop Tutu played in the fight against apartheid, and the enduring physical assaults, jail terms and prolonged exile that took him beyond the pulpit to global, political relevance.

He said that the position of the departed human rights activist, under President Nelson Mandela, in heading the Truth and Reconciliation Commission, provided healing and direction for his country and the world.

President Buhari sympathized with his wife, Leah Tutu, who he said is a lifelong partner in the struggle against injustice, corruption and inequality.

He also sympathized with the Tutu’s family, board and staff of Desmond and Leah Tutu Legacy Foundation, Elders and Nobel Laureate Group.

Buhari wanted the bereaved to take solace that the voice of the scholar and teacher, his published works, and inspirational quotes that will continue to resonate through generations, bringing more light and clarity to religious diversity, democracy and good governance.

The President prayed for the repose of the soul of Archbishop Tutu, “whose life and times sent an unforgettable message on love and forgiveness.”

Hazard Allowance Of Nigeria’s Doctors, Nurses, Others Increased To Between N34,000 And N40,000

Greenbarge Reporters

December 26, 2021

Hazard allowance of the Nigeria’s medical doctors has been increased from N5,000 to between N32,000 and N40,000 while that of the nurses and other health workers has been reviewed to between N15,000 and N34,000.
The new structure was contained in a circular with reference number SWC/S/04/S.218/11/406 dated December 22, 2021 and signed by the Executive Chairman of the National Salaries, Wages and Income Commission.
The circular read in part: “Concerning the review of the hazard allowance applicable to health workers in the services of the federal hospitals, medical centres and clinics in ministries, departments and agencies, the hazard allowance was reviewed to a flat rate that ranges from N5,000 to between N15,000 and N34,000 for health workers on the CONHESS salary structure, while doctors on CONMESS had theirs reviewed from N5,000 to between N32,000 and N40,000.”
Meanwhile, the Nigerian Association of Resident Doctors has disagreed with the new rate.
The association’s position was contained in a statement jointly signed by the National President, Dr. Godiya Ishaya; Secretary General, Dr. Suleiman Ismail; and Social Secretary, Dr. Alfa Yusuf.
The statement titled, “Press statement on the review of hazard allowance,” they expressed the dissatisfaction of the association with the proposed payment rate.
The association called on the Federal Government to review the rate to prevent the need for further negotiations in the future.
Source: The Punch.

South African Noble Prized, Bishop Desmond Tutu Dies At 90

Greenbarge Reporters

December 26, 2021

South Africa’s Archbishop Desmond Tutu, one of the leaders of the anti-apartheid movement, has died at the age of 90.
Desmond Tutu was awarded the Nobel Peace Prize in 1984 for his campaign of non-violent opposition to South Africa’s white minority rule.
Desmond Tutu was diagnosed with prostate cancer in the late 1990s and has been hospitalised several times in recent years to treat infections associated with his cancer treatment.
“Ultimately, at the age of 90, he died peacefully at the Oasis Frail Care Centre in Cape Town this morning,” Dr Ramphela Mamphele, acting chairperson of the Archbishop Desmond Tutu IP Trust and coordinator of the Office of the Archbishop, said in a statement on behalf of the Tutu family.
Ms Mamphele did not give details on the cause of death.
“The passing of Archbishop Emeritus Desmond Tutu is another chapter of bereavement in our nation’s farewell to a generation of outstanding South Africans who have bequeathed us a liberated South Africa,” President Cyril Ramaphosa said.
The statement described Tutu as a man who “turned his own misfortune into a teaching opportunity to raise awareness and reduce the suffering of others.”
It said: “He wanted the world to know that he had prostate cancer, and that the sooner it is detected the better the chance of managing it.”
The statement added: “Courageous, gracious, and concerned for the welfare of others to the very end.
“As Mrs Tutu says, although he was not physically imposing, he had the inner strength of a lion.”
Source: Sky News.

1...526527528...2,448 Page 527 of 2,448