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whao!

[size=13pt]Market capitalisation drops by N1.39tn in three months[/size]

The losses being recorded in the Nigerian capital market have reached a new height as the market capitalisation of the listed equities plunged by a staggering N1.39tn in the last three months.


Specifically, between June 1, 2011 and last Monday, which was the last trading day in August, the market capitalisation of the 194 First-Tier securities recorded a loss of N1.39tn from N8.273tn to N6.877tn, representing a 16.9 per cent decline.


Similarly, the Nigerian Stock Exchange All-Share Index, which opened in June at 25,875.31 basis points, recorded a decline of 4,337.70 basis points or 16.9 per cent to close at 21,497.61 points.


The market capitalisation is the total number of shares in the market multiplied by the price of each share, while the index is used to compare the increase or decrease in the size of the market as a whole and the value of the equities’ market, compared to other segments of the economy.


In the same period, the NSE-30 Index fell from 1,156.54 basis points to 955.39 basis points, representing a decline of 17.4 per cent or 201.15 basis points.


The persistent decline has been traced by analysts to a number of factors, including the crises in North-Africa and the Middle East, insecurity in the polity following the April general elections, and the news of the acquisition of three banks by the Asset Management Corporation of Nigeria.


Also, global investors had been worried that the United States and the world economy might be headed for another recession, a situation that analysts said affected the Nigerian equities market, which had been recording a measure of instability as a result of activities in the global market.


Analysts at Meristem Nigeria Limited, had in their report last month, noted that the news on the nationalisation of Afribank Plc, Spring Bank Plc and Bank PHB Plc, perhaps had the most significant effect on the market in recent times.


According to them, this was evident with the market indices, especially the banking index, losing heavily following the nationalisation and inflicting a heavy blow on the market.


Some stockbrokers, who spoke to our correspondent on Wednesday, noted that the huge loss was detrimental to the market and advised the government to put in place measures to stem the tide.


The Managing Director, Ideal Securities Limited, Mr. George Okafor, said it was important for the government to step in to change the direction of the market.


He said, “It is unimaginable and threatening to the real essence of the capital market as the platform for medium and long-term capital formation for investment and capital development.


“It is, therefore, necessary for government to show interest and concern about the worrisome negative trend by way of good and consistent business friendly policies that may rekindle the already battered confidence.”


He added that stockbroking firms needed financial support to reactivate the once vibrant market, which was also affected by the margin facility era that swept away their capital.


A stockbroker, who preferred anonymity because of the sensitive nature of the subject, said, “There are a lot of reasons why the market has been shedding heavily in the last few weeks. But lately, we have discovered that one or two stockbroking firms, which mainly handle foreign clients, have been selling heavily due to the uncertainties in the polity arising from security concerns.”


He said investors were worried about the safety of their investments in the face of all the security challenges in the country.


The Managing Director, Afrinvest West Africa, Mr. Ike Chioke, had recently said that one of the reasons why the equities market was bleeding profusely was because of the monetary directions of the government.


This, according to him, has served to redirect investors from the equities market into the fixed income markets, which seem more secure to them compared to the risks involved in equities investing.


He said, “Activities in the market seem to be affected more by the macroeconomic policies of the Federal Government, which is an unsustainable recurrent expenditure pattern, combined with the Central Bank of Nigeria’s monetary policy direction that is driving investors out of the equity markets into defensive fixed income positions like the bond and money markets.”

http://www.punchng.com/Articl.aspx?theartic=Art20110901234915

Not funny, am just laffing




Moved to Joke Section!

[size=13pt]I ‘ll not surrender, Gaddafi insists[/size]


TRIPOLI  (AFP) – Fugitive Libyan leader Muammer Gaddafi vowed again Thursday not to surrender, in a message broadcast on the 42nd anniversary of the coup which brought him to power.

In the message put out by the pro-Gaddafi Syria-based Arabic-language Arrai Oruba satellite television, the fallen strongman said he was prepared for “a long battle” even if Libya burns.

He urged his supporters to keep up their resistance to the insurgency that has conquered most of the country and forced him into hiding, as a major conference opened in Paris on aiding the rebel National Transitional Council (NTC) to set up a new administration.

“Even if you cannot hear my voice, continue the resistance,” Gaddafi said.

“We will not surrender. We are not women and we are going to keep on fighting.”

“If they want a long battle, let it be long. If Libya burns, who can govern it? So let it burn,” he added in the message sent from an unknown location.

Gaddafi claimed there were splits between NATO, “the alliance of aggression” whose warplanes have paved the way for the insurgents’ advance, and the rebels, “its agents.”

His message followed similar defiant words from his son Seif al-Islam on Wednesday night, who said he, his father and “the whole family” were still in Tripoli, which fell to the rebels on August 20 after days of fierce fighting.

But rebel sources said unconfirmed reports put the Gaddafis in the loyalist-held town of Bani Walid, southeast of the capital.

“We have reports that Muammer Gaddafi has been in Bani Walid for the past two days, but these reports are not totally confirmed,” NTC vice chairman Abdel Hafiz Ghoga told AFP.

He said clashes were still going on between rebel and pro-Gaddafi forces near the town.

“The revolutionary fighters are making progress and we are hoping for an end to the conflict soon,” he said.

A rebel commander, Abdel Raziq, said in Tarhuna, between Tripoli and Bani Walid he believed Seif al-Islam and another son, Mutassim, were in the latter town.

“About 80 percent of the people in Bani Walid are with the rebels and only 20 percent are with Gaddafi,” he said. “We expect them to surrender, but if they don’t we will attack from three fronts,” he added without giving other details.

Gaddafi, however, boasted that his last bastions were impregnable.

“Who can overcome Bani Walid, Sirte or Tarhuna? These towns are home to armed tribes and nobody can govern Libya without their consent,” he said in his fourth audio message since rebels entered Tripoli on August 20, seemingly unaware that insurgents were already in Tarhuna.

“At the end of the day, we will win the battle, the colonisers will go back to their countries and the agents will be finished with,” Gaddafi said.

The insurgents had earlier said they believed Kadhafi was hiding in his coastal hometown of Sirte, but another rebel commander said on Thursday they no longer thought that.

Seif al-Islam also vowed that the loyalists would fight to the death, in a separate audio message broadcast by Arrai.

But at the same time another son, Saadi Gaddafi, told the Al-Arabiya television channel he was ready to give himself up “If my surrender stops the spilling of blood.”

Algeria allowed one of Gaddafi’s wives, two of his sons and some of his grandchildren to cross the border on Saturday and seek sanctuary, angering the NTC.

But Algeria’s Foreign Minister Mourad Medelci said on Thursday there was no question of granting Gaddafi himself asylum.

Officials in the rebel base of Benghazi said on Thursday a deadline for forces loyal to Kadhafi to surrender had been extended by a week to September 10, but others in Tripoli denied it.

However Jalal al-Digheily, defence minister in the NTC, said at Nofilia, some 100 kilometres (60 miles) east of Sirte, “There will be no attack on Sirte just now. We continue to negotiate to enter the city peacefully.”

Rebel forces west of the town told AFP said they had been ordered to pull back from Abu Grain, 80 kilometres from Sirte, to Al-Sadaada, 160 kilometres away.

http://www.vanguardngr.com/2011/09/i-ll-not-surrender-gaddafi-insists/

[size=13pt]Boko Haram names UN bomber[/size]

Outlawed Islamic sect, Boko Haram, has named the bomber of the United Nations building in Abuja as a 27-year-old Nigerian, Mohammed Abul Barra.


A Boko Haram spokesman, Abul Qaqa, told the Cable News Network in an interview that Barra drove a Honda Accord packed with explosives into the UN building on August 26.


The attack claimed 23 lives while over 60 others were injured.


Qaqa said the UN building was attacked because the sect viewed the world body as ”a global partner in the oppression of believers.”

http://www.punchng.com/Articl.aspx?theartic=Art2011090115563029

Hmnnnnn. . . Toba, Tobysky. . . I can see you no dey give up

Continue jare, I like your spirit, quitters never win and winners never quit

Let us pray.

[quote author=Negro_Ntns link=topic=749052.msg9054124#msg9054124 date=1314875897]To all you camels asking for Mamman's picure, you don't need one. Here is what you to do to help arrest the bastard:

1. Look people for semblance of Arewa features;

2. Ask people you suspect if they are Mamman. Ex: sir, are you Mamman Nur?

3. If a positive response is obtained you tell the mugu to lay on the ground and not move. Look around for any goat or ragon on a rope leash. Free the animal but use the rope to tie Mamman's hands behind his back.

4. Call police or sss and tell them to drop your reward off first and then come get Mamman.

5. If you don't get your drop off then feel free to call Boko Haram. Tell them to negotiate with you for release of the murderer.

6. If guilty conscience bother you about setting him free, then go knock in the neighborhood and borrow a dagger. Say Allahu Akbar and slaughter Mamman. Then dismember him for parts and find a buyer in your local market that need transplant with the heart of a terrorist.

If all else fail, take picture of Mamman Nur and share with us so one of the brave hearts in NL can do this job.

Good luck![/quote]Not funny, but am laffing

@OP

It is the same message (audio + text) on this thread: https://www.nairaland.com/nigeria/topic-747852.0.html

Please continue the thread.

Thanks.



Thread Locked.

The OP got in touch with me through other means.

I know the OP and I think he is a very responsible guy with much credibility and integrity at stake that worth more than 60K to default. So if you can help please help.

ifyalways:
Better Thread,Correct Pesin @ OP!  

Oya,lets go there,first off where are you located at  

Belgium . . .Mile 2
Egbeda . . .Oja bustop,just at the back of those mallams changing money.
Akowonjo . . . .Opposite Hajj Camp bus station
Ojuelegba . . .Mama B
Ikeja . . .forgotten the name but its on down Awolowo way,i think they open on sunday mornings only
Lekki . . .hot pot(pre order and office delivery,don't even know their location)
Surulere . . .Shitta.
Jibowu . . .Omo one kurukere place,behind the railways,close to young shall grow motors.
Ajah . . .The complex after Ikota shopping complex,nice ewedu.
Yaba . . .white house
Surulere . . .at Akerele,you can't miss it,ask anyone around.I cant remember the name now.

I know you wont disappointing the OP.

Lived at Okota, so Belgium (Amuwo Odofin) was my most frequent amala joint. White house is also another good one.

[size=13pt]Jos killings continue three days after[/size]

https://vml1.s3.amazonaws.com/wp-content/uploads/2011/08/Josburns1.jpg

By Taye Obateru
Jos: Tension continued to mount in Jos, the Plateau State capital yesterday, after last Monday’s mayhem which claimed 20 lives, 50 vehicles and 100 motorcycles as both Muslim and Christian youths mobilised against each other in different parts of the state capital.

This was in apparent reprisals for silent killings from both sides. Places like Dogon Karfe, Abattoir, and Massalanci Juma’at Road were enveloped by tension for hours in the morning as security men battled to prevent any clash.

A man and his wife were said to have been stabbed and killed by hoodlums around the railway crossing around Dogon Karfe a development which angered the local youths who mobilized for a reprisal. Word soon got to those in nearby Abattoir area who also trooped out in their numbers ready for a fight.

Security men had to fire warning shots into the air to disperse the rampaging youths when initial appeals failed. The commotion generated by the development resulted in serious traffic jam along the roads leading into and out of the area and this lasted for over three hours. However, calm later returned to the area.

A young man was rescued around Massalanci Juma’at Road after he was seized by hoodlums who were dragging him to a hideout allegedly to be killed which infuriated his kith and kin who mobilized for a clash. Again, it was the timely intervention of security men that saved the situation.

Vehicular and human movement along major streets remained scanty for most parts of the day following rumours of planned reprisal attacks. Nieghbourhood watch groups have also been resuscitated in many areas to forestall any attack.

Meanwhile, the Catholic Archbishop of Jos, Most Rev. Ignatius Kaigama has appealed to the warring groups to sheathe their swords and embrace dialogue. Kaigama who co-heads the inter-religious dialogue body in the state in a statement on Wednesday, described the outbreak of fresh violence as unfortunate stressing that violence would only beget more violence.

He said neither Christianity nor Islam endorsed killings, bloodshed and destruction of people’s hard earned means of livelihood because of religious differences.

“We have always affirmed that dialogue with one another is the best solution irrespective of the level of confrontation or provocation. Knives, bows and arrows, guns, explosives and bombs will never bring about the desired resolution; rather they only heighten mutual hatred which culminates in harvest of unfortunate deaths and misery” the statement said.

He said, the root causes of the incessant crisis due to religious differences must be identified and addressed while appealing to those promoting the violence to stop it in the interest of the common good.

http://www.vanguardngr.com/2011/09/jos-killings-continue-three-days-after/

A loan u say? Since  what you are asking for is a loan, then you need to answer these few questions:

How do you intend to pay it back? where will you get the money to pay it back? and what is the guarantee that you will pay it back?

At least the team is more hopeful than before, thanks to 8-2 wallop at old trafford. Now let the season begin for Arsenal.

Sorry about it. Sometimes in the process of taking out unwanted weeds the anti spam bot also strike important posts. Whenever it happens, make a complaint about it and we will try and rectify it asap.

ola olabiy:
Why did SEUN reduce the number of times threads on Nairaland have been viewed?

https://www.nairaland.com/nigeria/topic-748309.0.html

velo10:
Could someone please respond to this?

https://www.nairaland.com/nigeria/topic-490918.2144.html#msg9034416

I think the anti spam bot did. Your adverts (contacts) are only allowed in certain section of this site, if you place an advert on a wrong section/thread your post will not only be removed, you will also be banned.

[size=13pt]Prosecute Boko Haram members or release Okah[/size]

By Samuel Oyadongha

Yenagoa – Former militants and youth activists in the Niger Delta region have described as a “miscarriage of justice” the refusal of the Federal Government to arrest and prosecute members of the Boko Haram sect in the wake of the spate of bomb attacks in Abuja and other parts of the North.

They said that such weakness on the part of the Federal Government should immediately lead to the unconditional release of the detained leader of the Movement for the Emancipation of the Niger Delta Region, MEND, Mr. Henry Okah.

The group of former militants and youth activists, under the aegis of the Network of Freedom Fighters in Niger Delta, NIDDEMCOW, led by a former President of the Ijaw Youth Council, Mr. Nengi James, said the rising cases of bomb attacks and the killings by Boko Haram had vindicated the MEND leader, Okah, as a man unjustly persecuted by the Federal Government.

The group, in a statement in Yenagoa, said the failure of the Federal Government to commence criminal proceedings of members of the Boko Haram sect amounted to double standard and demanded for the release of the MEND leader, from South African jail.

The group said: “We condemn the bombing of the United Nations building in Abuja and the killing of innocent citizens. It has equally vindicated Henry Okah.

“We call on the Federal Government to release the MEND leader from jail if the Boko Haram members are to be released un-prosecuted. We are worried over the non-prosecution of the Boko Haram sect members after several bloody attacks and bombing in the country.”

http://www.vanguardngr.com/2011/08/%E2%80%98prosecute-boko-haram-members-or-release-okah/

[size=13pt]Tension in Kaduna over burning of shops[/size]

BY LUKA BINNIYAT

KADUNA – There is tension in Kaduna State following reports that two shops belonging to Christians which were among those rebuilt after they were razed in the last April election violence in Kafanchan, Jema’a Local Government Area, were burnt again.

By yesterday morning, the situation had become tensed in Kaduna, as text messages either blaming Christians or Muslims for the incident flew around, while security was beefed up around the city.

Meantime, the government sent warning signals to the residents against the rumour, to douse the tension, even as Christian and Muslim camps, on learning about the fire incident, were said to have evacuated their families, with youths on both sides beefing up security as they expected the other side to strike first.

There were two accounts o+n the fire which started around 2 a.m. yesterday. Director of State Security Service, SSS, in Kaduna State, Mr. Yomi Samba, said 10 traders, mostly dealing in foodstuff, were affected by the fire incident.

According to Emmanuel Musa, the incident was caused by some vandals who wore black T-shirts and trousers, adding that their aim was to chase away the few non-Muslim traders in the market.

Another account said it was Christian youths that carried out the arson to force Muslim traders to relocate to a new market site, which they had earlier rejected for fear of their safety.

Alhaji Ayuba Garanti, Chairman Kaduna State Butcher Association, however, confirmed that no life was lost in the market as a result of the arson.

He said: “The incident happened around 2 O clock in the morning while it was thought everybody was asleep but people around the area quenched the fire but not before it had razed two shops containing various commodities belonging to different traders.”

http://www.vanguardngr.com/2011/08/tension-in-kaduna-over-burning-of-shops/

[size=13pt]Army intercepts eight suspected terrorists in Yola[/size]

BY UMAR YUSUF

Yola – A major tragedy was averted during Eld-el-Fitri celebration in Yola yesterday as the military intercepted about eight heavily armed terrorists heading towards the main Eid praying ground ostensibly to attack Muslim faithfuls observing the prayers.

The men and officers of the 23 Armoured Brigade, which intercepted the people said to be on a mission to kill said the suspects were armed with AK 47 riffles, when they ran into a patrol team at Song, a few kilometres to Yola, along the Yola-Maiduguri trunk A road.

It was learnt that one of the suspects was killed during a scuffle with military men, even as those arrested were detained at the army cantonment in Yola.

Among the worshippers at the Yola main Eid praying ground, included prominent personalities, such as  the Adamawa State Governor, Admiral Murtala Nyako, the Lamido of Adamawa, Dr Barkindo Mohammed Aliyu Mustafa, some members of  the national and state assembly members and members of state executive council.

The Army Cantonment spokesman, Lt . Y . Olukoya, confirmed the incident, saying, ‘’our soldiers intercepted some armed men with AK47 riffles and ammunition at Song heading towards Yola. One was shot while the others were arrested.’’

On Thursday, last week, about 30 armed bandits killed 17 persons including nine policemen, one soldier, and seven civilians among them, four members of staff of the United Bank for Africa, UBA, in Gombi, a few kilometers from Yola.

Also, the armed bandits raided two banks and sacked two police stations in the process.

http://www.vanguardngr.com/2011/08/army-intercepts-eight-suspected-terrorrists-in-yola/

[size=13pt]Security: Let us pray —Jonathan[/size]

TONY AILEMEN, Abuja

President Goodluck Jonathan yesterday charged the Muslim Ummah to pray for the nation to overcome the current challenges it is passing through.
He gave this charge when the Muslim Community in Abuja led by Vice President Namadi Sambo paid him the traditional Sallah homage at the Presidential villa, Abuja.

The President who wore a blue Babanriga and cap to match said he was participating in the fasting for the fifth time and noted that it takes sacrifice to fast through the whole month.

"First let me sincerely congratulate all the Muslim Ummah for successfully bringing the ramadan fast to an end in line with the tenets of Islamic religion.

"It is not an easy to fast for a month and having participated in if for the past five years,I know that it takes a lot of sacrifice, commitment, dedication and faith to do that successfully.

Adding that "We are happy that the Ramadan fast has come to an end and the Muslims Ummah have been able to keep faith with that. And we believe that this is the period being an holy month that will also transform us as individual sand as a nation.

The President stated that he interacted with quite a number of Muslims during the Ramadan period, adding that he even hosted some people during the break fast sessions and listened to radio and television commentaries on the Ramadan and was convinced that this is a period where people have to be our brothers keepers irrespective of the language or the part of the world or country we come from.

"It is a period that Allah has made it possible for us interact" he said.

He noted that Allah had a reason for creating us differently and the diversity should be used to develop the country.

According to him, "If we look at ourselves, some of us are tall, some are short, some are fair, some are dark and all is designed by Allah. If Allah wanted all of us to be of the same height, we would have been the same height. So there is a reason for the diversity and the diversity should be used help us develop not to separate us" he said.

The President therefore, charged them to continue praying for the country even though the Ramadan period was over.

He said "We thank all of you and we know as a nation we have challenges within this period, all Nigerians are clamoring for development, we need employment for our young people, we need power for our household use, commercial and industrial activities, we need fold for our people, we need security for those who want to move around safely from one point to another. All these are possible if all of us collectively call on Allah to make it possible.

"All the break fast sessions I used it to urge on our Muslims brothers to pray for the development, economic growth, peace and security in the land so that we will get foreign direct investments. No country stands on its own now even the giant countries need to live with other countries, they even send their own people out more even the richer countries, no one nation is an island. And for us go get attracted then we must maintain peace and security in the country

"I urge you to continue to pray even though the Ramadan has come to an end, continue to pray that the commitment of this country that myself and the Vice President and others have made to transform this country comes to a fruition.

"No matter the efforts we make we are humans and if Allah does not sanction it, it will not work. We believe that with your prayers things will be well in this country".

Also speaking at the ceremony leader of the group, Vice President Namadi Sambo prayed that the lesson gained during this period of fasting will continue to assist the country in ensuring a lasting peace for Nigeria.

He also seized the opportunity to pray for good health and wisdom for the president and that "Mr. President will lead us and transform this country as we have already been witnessing within this short period and pray also that we have peace, love, progressive and poverty is driven out of this country".

He also commiserated with victims of the "recent heinous violent attack at the United Nation’s office in Nigeria and the world in general and prayed that this act will be stopped by the grace of Almighty Allah".

On the delegation were the two ministers of the Federal Capital Territory (FCT), Bala Mohamed and Olajumoke Akinjide; former PDP chairman, Ahmadu Ali, Corps Marshal of the Federal road Safety Commission (FRSC), Osita Chidoka; and Chief Imam of National Mosque, Ibrahim Mohammed as well as Chief of Naval Staff, Ola Ibrahim, Chief of Air Staff, Ibrahim Dikko, Inspector General of Police, Hafiz Ringim and principal staff of the Presidential villa.

http://www.champion.com.ng/displaycontent.asp?pid=12235

[size=13pt]US Embassy Suspends Consular Services[/size]

By Paul Ohia

Applicants for visa at the United States Embassy in Abuja were disappointed yesterday as the mission cancelled interview appointments scheduled for the day.

The cancellation may not be unconnected with Friday's bomb explosion at the UN House that killed about 23 persons, with 73 others injured.

The embassy is about one kilometre to the UN House. Earlier, when the applicants arrived, they were not allowed to get close to the embassy premises as they were stopped halfway on the road leading to the compound, Xinxua reported.

Some minutes later, two members of staff of the embassy addressed the applicants and told them that the appointments had been cancelled.

The staff members advised the applicants to call the embassy's call centre for further information on their appointment dates. They also expressed regrets at the inconvenience the cancellation caused the applicants, stressing that there was nothing else the embassy could do but to take some measures.

They advised the applicants to direct their questions to the call centre. THISDAY learnt that it was the same situation in Lagos but an information officer could not confirm this as he was out of office

http://www.thisdaylive.com/articles/us-embassy-suspends-consular-services/97409/

I was also not impressed with the so called Economic Blueprint; I expected a lot more. I wasn't inspired or hopeful about the whole thing. It is not just enough to cut the overloaded recurrent expenditure by just 4% in 4 years and remove the oil subsidy. I just hope she intends to do more than she talked about.