Stock Exchange: Market records N44bn loss as 25 stocks depreciate

A total of 25 stocks depreciated at the end of trading on the floor of the Nigerian Stock Exchange on Wednesday. This resulted in the NSE market capitalisation dropping by N44bn.

The market capitalisation closed at N9.868tn from N9.911tn on Tuesday, while the NSE All-Share Index plunged to 28,730.42 basis points from 28,857.34 basis points.

An aggregate of 190.302 million shares valued at N2.342bn exchanged hands in 4,578 deals.

The market recorded a highest index point of 29,002.06 basis points in the course of trading, while its lowest and average index points were 28,730.42 and 28,851.66 basis points, respectively.

Skye Bank Plc, Forte Oil Plc, Glaxo Smithkline Consumer Plc, John Holt Plc and Eterna Plc emerged as the top five losers.

Skye Bank shares dropped by N0.06 (8.22 per cent) to close at N0.67 from N0.73, as Forte Oil also recorded a loss of N7.56 (4.63 per cent) to close at N155.75 from N163.31.

Similarly, GSK share price plunged by N0.77 (4.10 per cent) to close at N18.00 from N18.77, while John Holt shares saw a decline of N0.03 (3.85 per cent) to close at N0.75 from N0.78.

In the same vein, Eterna share price depreciated by N0.10 (3.85 per cent) to close at N2.50 from N2.60.

Other losers were Tiger Branded Consumer Goods Plc, Cadbury Nigeria Plc, Ecobank Transnational Incorporated Plc, Oando Plc, Diamond Bank Plc, Wema Bank Plc, Union Bank of Nigeria Plc, Nigerian Aviation Handling Company Plc, Trans-national Express Plc, Guaranty Trust bank Plc, Fidelity Bank Plc, United Capital Plc, Zenith Bank Plc, FBN Holdings Plc, Nigerian Breweries Plc, Dangote Cement Plc, Conoil Plc, Dangote Sugar Refinery Plc, UACN Plc and Guinness Nigeria Plc.

A total of 15 firms recorded gains on their share prices led by Transnational Corporation of Nigeria Plc, Honeywell Flour Mill Plc, AxaMansard Insurance Plc, FCMB Group Plc and Nascon Allied Industries Plc.

Transcorp shares appreciated by N0.14 (9.52 per cent) to close at N1.61 from N1.47; while those of Honeywell closed at N1.47 from N1.35, gaining N0.12 (8.89 per cent).

AxaMansard also recorded a gain of N0.09 (4.37 per cent) to close at N2.15 from N2.06.

Other gainers were NPF Microfinance Bank Plc, Livestock Feeds Plc, Continental Reinsurance Plc, AIICO Insurance Plc, Flour Mills Nigeria Plc, Unity Bank Plc, PZ Cussons Nigeria Plc, Total Nigeria Plc, United Bank for Africa Plc and Lafarge Africa Plc.


Tompolo: Women Protest Arrest of Innocent Youths

Hundreds of men and women from Gbaramatu community from Warri South-West Local Government Area of Delta State on Thursday staged a peaceful protest over the arrest and detention of some youths in the community by soldiers.

The women who wore black attires carried banners with inscriptions like: “Buhari BringbackOurBoys”, Our Boys Are School Children”, Our Boys Are Not Members of the Niger Delta Avengers”, “Buhari, Time Is Running Out.”

Some of the women rolled on the ground and wept, asking the soldiers to release their innocent children accused of bombing oil facilities.

The people of Gbaramatu Kingdom in Warri South West Local Government Area of Delta State are kinsmen of wanted ex-militant leader, Government Ekpemupolo, a.k.a. Tompolo.

The protesters also accused the military of detaining their children for more than 45 days and called on President Muhammadu Buhari to release their children to them.



Dangote to rebuild health facilities destroyed by Boko Haram


The Chairman of Dangote Foundation Alhaji Aliko Dangote has promised to partner with Yobe State Government to rebuild all the Health facilities that were destroyed by Boko Haram insurgents in Yobe State, particularly, the ones destroyed in the two local Governments of Gujba and Gulani Local Government.

Gujba and Gulani were the two local governments taken over by Boko Haram at the heat of the insurgency before they were liberated by the military.

Aliko Dangote who was speaking via a video link from Maimi in the United during a Mid-Year Review in line with the MoU signed with Yobe State Government, Bill & Malinda Foundation and Dangote Foundation in January on strengthening routine Immunization in Yobe State praised Yobe State Government for the progress made so far since the MoU was signed.

Dangote said,” I want to praised the effort of Yobe State governments for doing a fantastic job in making sure children are immunized in the state despite the security challenges. On the destroyed health facilities in the two local governments by Boko Haram, Dangote Foundation will partner with Yobe State to ensure that they are re-constructed. Dangote foundation may end up constructing all of them but I think we should have a partnership to ensure these facilities come back to functionality so that our children will with immediate effect begin to access the healthcare services.”

On his side, the Co-chair of Bill & Malinda Foundation, Mr. Bill Gates who also joined the event from Seattle, USA equally commended the State government for the stride made so far.

Mr. Gates noted with delight, the effective engagement and involvement of traditionally rulers in the campaign and other stakeholders by Yobe State Government, while calling on the speedy award of contracts enshrined in the MoU.

The Director National Primary Healthcare Agency, Dr. Ado Mohammed on behalf of The Federal Government donated the sum of $1.5 dollars to Yobe State Government as support to their commitment to the immunization drive in the state.

Yobe State Commissioner for Health Dr. Bello Kawuwa while presenting the report explained that 15 out of the 17 local government areas in the state were significantly covered except the remaining two-Gulani and Gujba which were occupied by Boko Haram insurgents before liberated by the military.

According to him, the good news is that the two local Governments are now accessible but the bad news is the destruction of nearly all the health facilities in the two localities.

Yobe State governor Ibrahim Gaidam in his comments told the partners that his administration is very committed to the MoU to ensure the total eradication of all the nine killer children’s diseases in the state.

He thank Dangote for offering to assist the state governments in the reconstruction of the destroyed health infrastructure in Gujba and Gulani, while also commending Mr. Gates and other partners for their unflinching commitment and support to children’s health across the world and Yobe particularly.

The Director Yobe State Primary Healthcare Agency, Dr. Hauwa Goni Fika explained that the whole idea of the MoU was to bridge the gaps in immunization coverage in the state which according to her include, security challenges, inaccessibility of some areas in the state, destruction of health facilities in the state, lack of cold storage facilities in some communities which makes it difficult of the movement of vaccines.



Natalie Evans appointed Leader of the Lords

Natalie Evans, 40, has been appointed to the role in succession to Baroness Stowell. Tina Stowell held the role for almost exactly two years.

In March 2008, Lady Evans was appointed deputy director of Policy Exchange. a centre-Right think tank set up by among others Michael Gove and Francis Maude.

Lady Evans stayed there until February 2011 when she became Chief Operating Officer at New Schools Network, a charity set up to help people and groups stetting up free schools.

She was ennobled in September 2014 and was a Government whip in 2015.



Collins Adeyemi, Former PMAN chairman , dies in Abuja

Former Chairman of the Performing Musicians Employers’ Association of Nigeria, PMAN, Abuja chapter, Mr. Collins Adeyemi has been reported dead.

It was gathered that the renowned Master of ceremonies cum actor, gave up the ghost on Wednesday in Abuja.

Adeyemi was last seen at the 6th Edition of the prestigious African Achievers Awards, which took place July 8, 2016, at the International Conference Centre, ICC, Abuja.

He was said to have slumped and died after a brief but yet-to-be ascertained ailment.

A close associate to the deceased, Nicki Nwadinobi said that the deceased had been on and off work but the sickness was not so serious.

Also speaking with Adeyemi’s friend, co-founder of the African Achievers Award, Ambassador David James Egwu, he said Collin’s demise was really sad.

He said, “The death of Adeyemi calls for sober reflection. What really killed Adeyemi remains a mystery to me as we were both at the Award event together.

“Unfortunately, before his death, he told me he was not feeling too well and we did not even know he would make it to the event but he did; only for me to get a call early this morning that Adeyemi is gone.

“Death is so inevitable and sometimes I wonder why we are struggling. What’s all the struggle for?

“If someone as hardworking and persevering like Adeyemi can die untimely, then I wonder,” the event manager said.