₦airaland Forum

The Central Bank of Nigeria, CBN Governor, Mr. Godwin Emefiele says names of individuals and companies involved in smuggling and dumping textile materials into Nigeria will be published. He spoke in Katsina during the official flag-off of the distribution of seeds and other inputs to 100,000 cotton farmers in Nigeria for the 2019 planting season under it’s Anchor Borrower programme.

Emefiele said: “With a population of over 190 million people, Nigeria clearly stands out as a virgin market that must be tapped. Your excellencies, if we are serious or determined in our drive to create jobs on a mass scale and reduce youth restiveness in Nigeria, the cotton, textiles and garments industry cannot be ignored. Consequently, the current trend where all our textile materials are imported from abroad must stop. It also means that, we must all join hands to fight and destroy all attempts by unscrupulous persons and companies to continue to smuggle and dump textile and garments into Nigeria.

“In considering the role which this sector plays in our economic development, we must not just consider the fact of productivity but also, we must view the sector from the standpoint that their existence helps in sustaining the vitality of the neighborhoods in which they operate. With the death of these industries, came a rise in unemployment, insecurity and other negative social vices. We must reverse this trend. In doing this, the CBN is currently gathering data about, and investigating the accounts of individuals and corporates currently involved in smuggling and dumping textile materials into Nigeria.

“This investigation is also being extended to the 42 other items restricted from FOREX in Nigeria. After our investigations, the names of these individuals and companies will be publicized and let me assure everyone that these individuals and companies will be blacklisted and all the banks in Nigeria shall be barred from conducting any banking business with the companies, their owners and top management.

“Today, Nigeria currently spends about $4billion annually on imported textiles and ready-made clothing. With a projected population of over 190 million Nigerians, the needs of the domestic market are huge and varied, with immense prospects for growth of the domestic textile industries.”

SOURCE: https://dailypost.ng/2019/05/07/cbn-publish-names-individuals-companies-involved-smuggling/

Nigerian Stock Market in 2019: Will it be a tale of two halves?

Thus far in H1-2019, major bourses across Emerging and Frontier markets have witnessed a positive turnaround relative to 2018 and the performance has been largely buoyed by the dovish chorus across global central banks. However, the Nigerian Stock Exchange (NSE) appears missing in action, as a surprise interest rate cut in March, some impressive corporate announcements and a relatively peaceful pre-and post-election period failed to stimulate the market.

The major reason for the relatively lacklustre performance by the NSE can be attributed to lack of foreign interest, most likely as a result of uncertainties around the current administration as regards the team it will employ to implement its policies. There is also the current silence around who the next CBN Governor would be, amid fears of a devaluation. Additionally, inactivity at the primary market segment has continued to make the market less attractive to FPIs (Foreign Portfolio Investors).

All the above factors are expected to change in H2-19 amid expectations that President Buhari would announce his ministerial cabinet and the next CBN Governor early H2-19.

Also, if recent reports are anything to go by, we expect MTN to list on the Exchange, to end a long drought of inactivity in the IPO market and provide some depth in the equity market.

In all, we believe H2-2019 is poised with some positive catalysts.

SOURCE: https://brandspurng.com/2019/05/09/stock-market-performance-in-2019-will-it-be-a-tale-of-two-halves/

Binance, a major cryptocurrency exchange, says hackers stole more than $40 million worth of bitcoin from its customers.
The Taiwan-based company, one of the world's largest crypto exchanges, announced it discovered a "large scale security breach" on Tuesday.

It said hackers stole 7,000 bitcoins in one transaction. One bitcoin trades at nearly $6,000. "The hackers used a variety of techniques, including phishing, viruses and other attacks," CEO Changpeng Zhao wrote in the statement. He said the company continues to investigate the breach.

Zhao explained that the hackers waited for the best time to conduct their operation, but he didn't clarify specifically how the hack went undetected. "The transaction is structured in a way that passed our existing security checks," he said. "Once executed, the withdrawal triggered various alarms in our system. We stopped all withdrawals immediately after that."

The stolen bitcoin (XBT) will be reimbursed through Binance's secure asset fund, emergency insurance available in case of a breach. Binance warned that other accounts could be affected. Binance also temporarily suspended deposits and withdrawals, but it said bitcoin trading can continue. A security review of the incident will take at least a week. "We beg for your understanding in this difficult situation," Zhao wrote.

The hack is coming at a time bitcoin is hot once again. Bitcoin prices have surged nearly 60% this year after plunging almost 75% in 2018.

SOURCE: https://edition.cnn.com/2019/05/08/tech/bitcoin-binance-hack/index.html

Emerging as one of the best performing stocks last week, Transcorp (Transnational Corporation of Nigeria) piqued our interest as it appreciated 11.61%, gaining 13kobo to close at ₦1.25. This rally rode off the back of info about its emergence as winning bidder for acquisition of Afam power plant. Transcorp power consortium, led by Transcorp Plc, submitted a bid of ₦105.3bn for 100% equity stake in Afam Genco, consisting Afam power plant and Afam Three Fast Power Limited.

In line with the company’s 5-year plan of growing installed capacity to more than 3,000MW, acquisition of Afam power will double Transcorp’s installed capacity to 1959MW (with additional 987.2 MW from Afam power plant). Should the acquired plant operate at full capacity, we expect a surge in Transcorp’s output and a doubling in topline (as power segment contributes 77% to group revenue) and rise in profits.

We however express concerns about financing options for the acquisition. As it stands, Transcorp’s history with Nigerian equity investors is not exactly favorable. Given the already large number of shares outstanding (over 40bn shares), an equity raise would prove dilutive to shareholders. Also, current equity market sentiment challenges favorability of equity funding, leaving the conglomerate to mull debt/other options.

With debt to capital ratio at 49%, embarking on a wholly debt financing route could lift said ratio closer to 70% by our estimation, with higher interest cost increasing total risk and heightening leverage concerns. However, we expect revenue expansion to keep interest coverage ratio tamed and elevate profits. We register that this news spells well for the conglomerate, whose power business already contributes 77% of revenue, and 86% of operating income. That said, we see the company as primarily an energy/power sector concern, raising eyebrows about its conglomerate tag.

Overall, we see increasing exposure to the power sector (which offers greater return on assets relative to its hospitality business) as a good move, igniting fresh optimism of Transcorp’s long term performance.

In our view, Transcorp is a BUY, as current market pricing offers huge long term capital appreciation potential.

DISCLAIMER:
This report by Lead Securities & Investment Ltd is for info purposes only. While opinions and estimates therein have been carefully prepared, the company and its employees do not guarantee its complete accuracy, as it was also gathered from various sources believed to be reliable and accurate at the time of this report. We do not take responsibility therefore for any loss arising from use of the information.

SOURCE (abridged): Lead Securities & Investment Ltd.

Barely a few years after Mavrodi Mundial Moneybox (MMM), a popular ponzi scheme, crashed in Nigeria, “Loom”, a similar money-making scheme, is fast catching up among Nigerians. “Loom Money Nigeria” is a peer-to-peer pyramid scheme that follows the same pattern as the collapsed MMM.

Organisers of the ponzi scheme have asked people to invest as low as N1000 or N13,000 and get as much as eight times the value of the investment before 48 hours. Unlike MMM, where there is a website and its founder (late Sergey Mavrodi) is well known, the promoters of Loom are elusive while the pyramid scheme operates via closed groups mainly on Facebook and Whatsapp.

Daily Mail had reported in April that ponzi schemes resurfaced online all over the world, with different names such as “Loom circle”, “fractal mandala” and “blessing Loom”. ABC News reported that Loom was first reported in the UK but is now circulating on social media platforms in Australia.

The pyramid scheme is currently making waves in Nigeria, with individuals creating their own WhatsApp groups such as “Preye Loom”, “Catherine Loom”, among others.

HOW LOOM MONEY NIGERIA WORKS?
It is believed that once users are invited to join the WhatsApp group chats, they are asked to invest N1,000, N2,000 or N13,000 with a promise that they will make eight times the amount once the participants recruit new entrants. After payment, participants are told to invite at least one person to join the system.

There are four levels in “Loom Nigeria” – Purple, Blue, Orange and Red. Each time 8 people join the group chat, the person in the centre — usually on the red spot — will get the target amount and leave the group.

ONCE BITTEN, TWICE SHY
Over three million Nigerians reportedly lost N18 billion to the MMM after it crashed in 2017. This was after the Securities and Exchange Commission (SEC) and the Central bank of Nigeria (CBN) warned them against participating in the scheme which they described as a “Ponzi” scheme.

SOURCE: https://www.thecable.ng/nigerians-fall-for-loom-another-ponzi-scheme-despite-losing-billions-to-mmm

Rotimi Amaechi, minister of transportation, says the federal government has approved construction of Warri seaport at the cost of about 3.9 billion dollars and also awarded contract for Abuja-Warri rail line. Amaechi told NAN on Tuesday in Abuja that the federal government also approved the linking of Abuja to Itakpe, Itakpe-Warri, then from Warri rail to the seaport.

“The President awarded the contract for Abuja to Warri, Abuja to Itakpe, then to Warri. From Warri rail to the seaport. We are building a new seaport in Warri, the cabinet approved it last week, that is about 3.9 billion dollars,” he said.

He, however, said that about 45 billion dollars was needed to complete rail development in the country. The minister said that once the Lagos-Kano, Port Harcourt-Maduguri, Lagos-Calabar and Abuja-Warri rail lines are constructed, the rail would have covered the country. According to him, government has not spent over 3 billion dollars so far on all the ongoing projects.

“The Lagos-Ibadan will cost about 1.6 billion dollars, that doesn’t include the extra cost of things we didn’t prepare for or see in the evaluation; Abuja-Kaduna was constructed with about a billion dollars,” the minister said.

“We also paid 500 million dollars to buy locomotives and rolling stocks for Lagos-Ibadan, I can’t remember how much we spent buying rolling stocks for Kaduna-Abuja, that is what we have spent so far. So all the noise that you hear people saying we have spent 8 point something billion dollars is not true. I don’t think we have spent up to three billion dollars so far. Railway is capital intensive, a trillion naira is about 2.7 billion dollars. And that is for 200km of railway, if you plan to do Lagos-Ibadan and you are looking at 8.7billion dollars that is between 3 and 4 trillion Naira. That is why I said we will need about 35 to 45 billion dollars.

“To be able to do Lagos-Kano, Port harcourt-Maduguri, Lagos-Calabar and Abuja-Warri, once we do this four tracks, we have covered the country and we have solved the problems of transportation to a great extend.”

SOURCE: https://www.thecable.ng/fg-approves-3-9bn-for-warri-seaport

The Federal Government has dragged the President of the Nigeria Football Federation (NFF), Amaju Pinnick, and four others to court for allegedly misappropriating $8,400 belonging to the football body. The four other suspects are NFF Secretary, Sunusi Mohammed; the 1st Vice-President, Seyi Akinwumi; the 2nd Vice-President, Shehu Dikko and an Executive member, Yusuff Fresh.

DAILY POST reports that the charges against them were filed by the Special Presidential Investigation Panel for the Recovery of Public Property (SPIP), led by Okoi Obono-Obla.

In a 17-count charge, marked FHC/ABJ/CR/93/2019, filed by that panel before the Federal High Court in Abuja on Tuesday, the $8,400 in question was said to have been paid by the Fédération Internationale de Football Association (FIFA) to the NFF as appearance fees in the group stage of the Russia 2018 World Cup.

The defendants were also accused of moving the sum of about N4bn “dishonestly and intentionally” which belonged to the NFF without the consent of the football federation in the country. They were also accused of failing and neglecting to declare their assets.

SOURCE: https://dailypost.ng/2019/05/07/breaking-fg-drags-amaju-pinnick-four-others-court-alleged-corruption/

Professor Olayinka Adegbehingbe, the Obafemi Awolowo University (OAU) lecturer at the department of orthopaedic surgery who was abducted on Sunday, said N5.045m was paid to secure his release. He disclosed this in an interview with NAN and attributed his release to the power of God.

He said the kidnappers, whom he described as herdsmen, initially demanded N30 million but later collected N5.045m after negotiation. Speaking on the high level of insecurity across the country, he said many jobless youths have resorted to crime.
He called for community policing as well as provision of employment for the youths, saying “idle hands are the devil’s workshop. The federal government needs to invest more in security; we need to know the identity of people coming in and going out of the town, state and the country at large,” he said.

“The people who abducted me were herdsmen and they had four guns and multiple rounds of ammunition as well as different dangerous weapons. I also thank the security operatives, the entire OAU and OAUTHC communities, our families, church members and all other well wishers for their prayers and other support rendered.”

Oluwole Komolafe, president of the Nigeria Medical Association in Osun state, also expressed gratitude to God for the release of Adegbehingbe. "The Federal Government should look into the issue of security across the country so that citizens would have rest of mind,’’ he said.

SOURCE (abridged): https://www.gist mania.com/talk/topic,387865.0.html

Some armed men believed to be kidnappers Sunday evening abducted a lecturer at the Obafemi Awolowo University, Ile Ife, Prof. Yinka Adegbehingbe, on the Ife-Ibadan Expressway. According to security sources, the incident occurred between Asejire and Ikire town around 9 pm.

Prof Adegbehingbe alongside his wife, it was learnt, was travelling from Lagos to Ife when armed men, stopped their vehicle and abducted him. An eyewitness, Azeez Olagunju, told our correspondent that several vehicles ran into the ambush by the gunmen. He said, “several vehicles were stopped by some men armed with guns. Many people fled into the bush because we thought it was an armed robbery attack. Later, we were told a man had been abducted but I don’t know who the person is. Those that fled into the bush later returned after the men had left the road.”

A spokesperson for Ooni of Ife, Moses Olafare confirmed the abduction of Adegbehingbe to our correspondent.

Olafare said, “I received a call from one of the passengers who witnessed the abduction of Prof Yinka Adegbehingbe. Immediately I received that information, I called OAU PRO. I also called Ife Area Commander of Nigeria Police Force and later the Commissioner of Police. CP told me she was aware of the incident and requested for more details from our end and we gave that. I later spoke to the wife of Prof. Adegbehingbe. She was in a police station around Apomu when I spoke to her.”

OAU Public Relations Officer, Mr Abiodun Olanrewaju, also confirmed the abduction in a telephone conversation.

SOURCE: https://punchng.com/gunmen-kidnap-oau-lecturer-on-ife-ibadan-expressway/

Ademola Adeleke, candidate of the Peoples Democratic Party (PDP) in the 2018 governorship election in Osun State has been detained by the Nigeria Police.

This was disclosed in a statement on Monday, by his campaign organisation. Adeleke was arrested after he had honoured an invitation by the police. The statement read: “We alert the public, diplomatic and democracy community worldwide that the Nigerian Police has arrested and detained Senator Ademola Adeleke on old trumped up charges of certificate and testimonial forgery.

“This is after the school principal and school authority have through affidavits denied any forgery and owned up to the school testimonial issued to Senator Adeleke. Senator Adeleke had this morning honoured police invitation at the force headquarters, Abuja. He arrived at the force headquarters at 9am and was not attended to until later this afternoon when he was informed of fresh charges of testimonial forgery. The distinguished Senator was taken to Maitama Police station with plan to arraign him tomorrow at an undisclosed Magistrate court.”

SOURCE: https://dailypost.ng/2019/05/06/breaking-police-arrest-senator-adeleke/

MTN Nigeria’s bid to be listed on the Nigerian stock exchange has been approved to go ahead after weeks of delay by Nigeria’s Securities and Exchange Commission (SEC). MTN Nigeria’s Initial Public Offering (IPO) has been set for August as part of MTN’s plans to restructure debts and fund local investments in Nigeria with its local currency, according to Ventureafrica.com reports.

According to BusinessDay, MTN Nigeria will be worth between 3.2 trillion Naira and 3.9 trillion Naira on the Nigerian Stock Exchange. MTN hopes to raise $400 million from the IPO to pay preference shareholders. The telecoms company will issue about 402 million shares, with one share split into 50 units to create 20 billion shares. MTN had originally planned to list its Nigerian office on the country’s stock exchange last year but delayed the decision due to unfavourable market conditions.

MTN also plans to pay off some of its debts through the IPO. MTN Nigeria is Nigeria’s biggest telecommunications provider with more than 50 million subscribers. In 2015, it was slapped with a $1 billion fine by Nigeria’s communications regulation body for failing to disconnect unregistered subscribers on its network before a general deadline. The fine was later reduced to 330 billion Naira by Nigeria’s Minister for Communication Adebayo Shittu.

The fine contributed to MTN’s debt burden, which had risen from 52 billion rand ($4.2 billion) in 2016 to 57 billion rand ($4.6 billion) in 2017. In response, MTN, whose headquarters is situated in South Africa, has decided to replace its dollar-dominated debts with the local currency of the countries where its different units are situated.

Investment firms for the issuance include Chapel Hill Denham (the lead issuing house), Rand Merchant Bank, Renaissance Capital and Vetiva Capital.

SOURCE: https://www.independent.ng/mtn-nigerias-ipo-to-commence-in-august/amp/

Dangote Industries Limited has said its crude oil refinery is expected to produce 65.4 million litres of petrol, diesel, aviation fuel and kerosene daily when it comes on stream. The company, in a statement on Sunday, described it as the world’s largest single-train refinery, with a capacity of 650,000 barrels per day.

It said the high volume of petroleum products from the refinery, located in Lagos, would transform Nigeria from a petrol import-dependent country to an exporter of refined petroleum products. According to the statement, the company’s plan is to satisfy Nigeria’s demand for petrol, aviation fuel, kerosene and diesel, leaving a surplus for export.

The Group Executive Director, Strategy, Capital Projects and Portfolio Development, DIL, Devakumar Edwin, said the refinery was being designed to accommodate multiple grades of domestic and foreign crude, and process them into high-quality petrol, diesel, kerosene, and aviation fuels that would meet Euro V emissions’ specifications, plus polypropylene. He said the refinery would also include a crude distillation unit, single-train residual fluid catalytic cracking unit, diesel hydro-treating unit, continuous catalyst regeneration unit, alkylation unit, and a polypropylene unit.

“The project will provide thousands of direct and indirect jobs and add value to Nigeria’s economic development. It will lead to significant skills transfer and technology acquisition opportunities in the country,” he added.

Edwin said the company was also constructing the largest fertiliser plant in West Africa with the capacity to produce three million tonnes of urea per year. According to him, the Dangote fertiliser complex consists of ammonia and urea plants with associated facilities and infrastructure.

“Dangote fertiliser project is planned to possess unique features like having the largest granulated urea fertiliser complex under development in the global fertiliser industry, with an investment of $2.0bn and a capacity of three million tonnes per annum, covering some 500 hectares of land,” he added.

Edwin said Dangote fertiliser would guarantee a substantial saving of foreign exchange in Africa and create surplus urea for farmers to enhance production of food grains and vegetables. He noted that the fertiliser plant’s core indication included a massive employment generation, which would lead to a reduction of migration of people from rural to urban centres.

SOURCE: https://punchng.com/well-produce-65-4-million-litres-of-petrol-others-daily-dangote/

A civil servant working with the Delta State Ministry of Finance (Project E-Delta), Comrade Benson Efeotor, who returned an excess of N53 million erroneously paid him as salary, got a brand New GAC Car courtesy the Delta State Government. Comrade Efeotor returned to the state government, the sum of fifty three million, one hundred and twenty one thousand, six hundred and fifty naira erroneously paid into his Zenith Bank account recently.

Comrade Efeotor, who doubles as the Delta State Chairman of the Nigerian Civil Servants Union, spoke at the 2019 May Celebration held in Asaba , Comrade Efeotor said, “I returned the money because I don’t have such money in my bank account.” He said when he saw the money in his back account; he informed the relevant government officials, who gave him the appropriate government account to pay the money back into. Comrade Edeotor who is an indigene of Okpara-Inland Community in Ethiope-East Local Government Area said, “I have satisfied my conscience and I am okay with that.”

He said anyone who will say he was wrong for returning the money to the government is a “thief.” Comrade Efeotor stressed, “You don’t collect what does not belong to you. I am working for my salary. If I collect the money, that’s criminal.”

Reacting to the development, the Delta State Governor, Arthur Ifeanyi Okowa said he has rewarded Comrade Benson Efeotor with a GS 3 saloon car for the show of good example. He said, “That’s the type of Nigerian worker that we must recognize. Such person will lead the Union aright".

SOURCE: https://www.gist mania.com/talk/topic,387584.0.html

In readiness to when Nigeria will embrace the use of electric cars, Cross River Government is aligning with a Slovak firm, Sirieco, with a view to establishing electric car assembling plant in the state. Chief Executive Officer of Sirieco Company Limited, Mr. Groidis Peter, disclosed this when he led his team on an inspection tour of Ayade Industrial Park in Calabar.

The Slovakian firm will also set up a factory for the manufacture of the latest and long-lasting energy bulb in the state.

“After a useful deliberation with the governor and tour of some of the projects here in this industrial park, I am glad to announce to you, gentlemen, that we will love to build a strong working relationship with the Cross River State government which will culminate in the building of a hub that will be second to none in Africa. We are starting with Eco-Cars; electric cars and we hope to set up the car assembling plant here in this park. We are also building a factory for the manufacturing of long-lasting street lambs.”

In his reaction, Governor Ayade said: “The Ayade Industrial park has 42 plots of land ready for any serious investor who is willing to create jobs for at least 50 Cross Riverian from its investment outlay. We are offering free land, tax exemption and providing the necessary utility support services including free Wi-Fi.

SOURCE: https://www.sunnewsonline.com/slovak-firm-to-set-up-electric-car-energy-bulb-plants-in-cross-river/

It was the end of the road for a syndicate that specialized in importing fake drugs from China into Nigeria, following the arrest of one of its suspected members and the recovery of a truckload of Panadol Extra and Chloramphenicol eye-drop. The arrest was made following a tip off, which saw operatives of the Special Anti-Robbery Squad (SARS) of the Lagos State police command, storm the Trade Fair complex, along the Mile 2-Badagry expressway, where the truck was intercepted.

The 35-year-old suspect, Hope Ikerimba, had gone to supply the medicine to a buyer with an unknown identity. In an interview with the suspect, he said: “My friend, Solomon Afoaku, owns the goods. He lives in Kano State. He called me on the phone last Thursday, that he would want me to help him supply the goods to a buyer. He said that the buyer refused to pay for the goods, saying he had to see them before he would pay.

“Someone brought the goods to me at Trade Fair, where I sell spare parts. The plan was for the buyer to come inspect the goods there and thereafter, I would follow him to the bank to ensure he paid into Solomon’s account before I release the goods to him. Immediately the man arrived to inspect the goods, SARS men came.”

Police sources revealed that moves were on to arrest the owner.

SOURCE: https://tsb.com.ng/2019/04/syndicate-which-imports-fake-drugs-from-china-busted-by-sars-in-lagos/

Sylvester Igboun has written his name in the history of Russian Premier League side Ufa after he became the club’s all-time leading scorer with 24 goals in official games. The former FC Midtjylland hitman attained this following his brace on Saturday in their 4-1 win over Ural in a league game.

Igboun told SCORENIGERIA that he is delighted to set the record and hopes for more goals to power his team to safety in the remaining games. “I feel so good about this achievement. It is not easy,” he said.

“My target as always been to score as many goals as I can, and do better than past seasons. I am delighted to have been able to achieve that and setting a record as Ufa’s all-time top goals scorer.”

SOURCE: https://tsb.com.ng/2019/04/nigerian-player-sets-all-time-goals-record-at-russian-club/

Armed men have reportedly blocked the Kaduna-Abuja highway, opened fire on some vehicles and abducted two people. NAN reports that the attack was said to have occurred at about 3pm around Katari village on Monday and resulted to the death of one person.

Spokesman of the Kaduna State Police Command, DSP Yakubu Sabo, said the attackers kidnapped the Chairman of the Universal Basic Education Commission (UBEC), Muhammad Abubakar and his daughter while his driver was shot dead. Sabo, who confirmed the incident in a statement issued in Kaduna, said two victims of the attack were rescued.

“Yesterday April 29, we received information through DPO Katari that at about 1530hrs, he got a distress call that armed men in military uniform intercepted a Land Cruiser SUV with Reg. No 07E o4 FG and Toyota Sienna with Reg. No SLJ 465 TN at Kurmin Kare Village along Kaduna -Abuja Expressway, opened fire on the vehicles and in the process the driver of the SUV was shot dead. While the occupants, Dr. Muhammad Abubakar, who is the Chairman of Universal Basic Education Commission (UBEC) and his daughter were kidnapped.

“The occupants of the Sienna; one Alowonle Olalere and Onuka Victor both of Ibadan, Oyo State were injured and rescued to Katari Police Station.” Sabo added that the two injured victims were returning from Kano where they went to shoot a film titled ‘The Last Step’. He disclosed that a combined team of mobile policemen, Anti-Kidnapping Unit of the Command, Special Forces and Operation Yaki operatives were quickly mobilized to the area with a view to combing the bushes for possible rescue of the victims and arresting the criminals.

He added that the Inspector General of Police Intelligent Response Team was also contacted for technical support in tracking the hoodlums. “At the moment, the two vehicles were recovered to the station,” he added.

“The Commissioner of Police CP Ahmad Abdur-Rahman appeals to members of the public to support the Police with relevant information that could assist in apprehending the perpetrators of this heinous act. The Command will not be deterred in its efforts to bring crime to the barest minimum in the state. The hoodlums are only testing our collective will and we cannot relent.”

SOURCE: https://www.gist mania.com/talk/topic,387062.0.html

I Don't Want To Share Ambode's Day Of Glory With Him - Fashola Speaks After Buhari's Lagos Visit.

Minister of Power, Works and Housing and former Lagos State governor, Mr. Babatunde Fashola, last night, dismissed insinuations that he did not attend President Muhammadu Buhari’s recent visit to Lagos for projects’ inauguration because Governor Akinwunmi Ambode did not extent an invitation to him.

On the contrary, Fashola said he was personally invited by the governor, but he deliberately stayed away because he didn’t think it was right to share Ambode’s day of glory with him as a former governor of the state.
“You know, I don’t tell lies and I would never lie against my successor in office. He personally called to inform me that an invitation letter had been sent to my Lagos home and pleaded that I attend the event. Indeed, I gave him my word that I would be there but the truth is that I didn’t think it was right to share his day of glory with him. That was his day of glory for crying out loud and he deserved to make the best of it without anyone sharing that day with him."

“For God’s sake, here is a man who had suffered very seriously bad press and I did not share the bad press with him. So, why should I share such a glorious day with him? This is me; this is my style and this is the kind of example I want to be setting in governance,” he said.

Citing a close example, he recalled that when former US President Barack Obama succeeded in killing the world’s one time renowned terrorist, Osama Bin Laden, it was his predecessor, George Bush he first called but Bush asked him to go ahead and celebrate his day of glory, because it was entirely his. Fashola who spoke exclusively to THISDAY in a telephone conversation, posited that although his decision to not attend the event was further bolstered by his need to prepare for the Federal Executive Council (FEC) meeting and so, he was fully convinced that attending the project inauguration was not expedient.

He described the debate that his absence at the event had generated as grossly unserious, saying it is only in this part of the world that people celebrate such things otherwise attention should be paid to more serious issues of governance and development.

SOURCE: https://www.gist mania.com/talk/topic,387039.0.html

Sri Lanka has banned all kinds of clothing that cover the face and prevent identification, such as niqabs and burqas, officials said on Sunday, a week after the Easter bombings that left over 250 people dead. The ban does not directly refer to Muslim female garb, burqa and niqab, but was seen as a clear reference to the type of dress.

A statement from the office of the president said the ban was being introduced from Monday under new regulations brought under a state of emergency in response to the Easter bombings in Colombo, the capital. Sri Lanka’s justice ministry had already been considering introducing laws preventing wearing of burqa and niqab, but has expedited the ban.

On Sunday, a group of Muslim leaders had called on community members to refrain from wearing clothing in a manner that obstructs identification of persons. Most of those killed in the Easter Sunday attacks were Sri Lankans. The dead also included 40 foreigners, including British, US, Australian, Turkish, Indian, Chinese, Danish, Dutch and Portuguese nationals.

More than 100 people, including foreigners from Syria and Egypt, have been detained for questioning over the Easter attacks. The Sri Lankan military said at least 15 people were killed during a fierce gun battle with militants on the east coast on Friday, including six children.

Sri Lanka’s 22 million population is majority Buddhist and includes minority Christians, Muslims and Hindus.

https://www.thecable.ng/sri-lanka-bans-face-coverings-after-easter-sunday-bombings

Dr Suleiman Lawal, National Population Commission (NPopC) Commissioner representing Kano state, has explained the difference between Certificate of Live to Birth and the Birth Certificate issued by the commission. Lawal, who disclosed this to News Agency of Nigeria (NAN) on Sunday in Abuja, said that both documents have unique functions which differentiate them.

“The Certificate of Live Birth is completed shortly after a baby is born in a hospital; it is the medical field’s way of documenting that a human being has entered the world. Certificate of Live Birth includes the baby’s name, parents names, doctor’s name, hospital, sex, race, date of birth and name of person completing the record. It is the first ‘unofficial’’ document verifying that your mother gave birth to you alive. It is the hospital’s record of your birth and must be completed shortly after you come into the world,” he said.

Lawal added that the certificate was supposed to be sent to the vital records office where it is used to create a Birth Certificate for a child. “But in Nigeria, the hospitals do not send their data because there is no framework for it.’’ He said the Certificate of Live Birth would not be accepted as a replacement for a Birth Certificate.

Lawal said that the Birth Certificate is one of the most important documents for any Nigerian. “After a child is born, your birth certificate should be created; it is a government-issued form of identification given by the NPopC. A typical birth certificate includes the Name, City and Country of Birth, Date of Birth, Parents’ Names, including their Occupation, Address and Ethnicity. Let’s say the Certificate of Live Birth simply verifies that you are medically alive, whereas the Birth Certificate verifies who you are, who your parents are, where you were born and your date of birth. Without your Birth Certificate, you cannot prove who you are and this can cause many problems for you.

“Your Birth Certificate is a very important document and should be kept in some place safe and it should be protected,” Lawal advised. He said it was wrong for Nigerians to obtain the certificate of live birth as substitute for a duly-issued birth certificate by the NPopC. He said NPopC officers are expected to carry out sensitisation at the grassroots about new births and issue birth certificates after the newborns have been registered.

“If they are not doing it, then it is our responsibility to ensure they do it. So it is not a passive registration where someone sits in a place and wait for people to come; they are expected to reach out to people as part of their responsibilities,” he said. According to Lawal, birth registration remains the first step towards recognising a child’s right as a human being.

“Specifically, birth registration is the official recording of the birth of a child through an administrative process of the state and it is a permanent and official record of a child’s existence,” he said.

SOURCE: https://dailypost.ng/2019/04/28/nigerian-govt-clarifies-differences-birth-certificate-certificate-live-birth/

Apostle Suleman has hailed the Ibos, saying they are Nigeria’s biggest ambassadors. The preacher says he has been to 112 countries in the world, and every country he gets too, he meets an Ibo man or woman.

''I have been to over 112 countries in the world and everywhere I go, I meet the IBOS..the ibo man/woman is the the biggest ambassador of Nigeria..and someone disrespects them?..its bankruptcy of exposure...i love the ibos..'', he wrote.

SOURCE: https://www.ladunliadinews.com/2019/04/ibos-are-nigerias-biggest-ambassadors.html

Tony Elochukwu, a Nigerian from Nnobi, Anambra state, has been killed by an unidentified gunman in South Africa. Ben Okoli, president of Nigerian citizens association in South Africa (NICASA), disclosed this in a letter sent to Godwin Adams, consular general, Nigerian consulate in Johanesburg. According to the letter, three Nigerians have been killed between April 6 and 9, at different locations in the country.

NAN reports that Okoli decried the death and continued killings of Nigerians in the country, adding that people are worried and scared since none of the suspects has been arrested or charged.

“We received yet again the sad news of the death of another Nigerian in Witbank Mpumalanga province. Mr Tony Elochukwu from Nnobi Anambra State was shot twice in the head by an unidentified Nigerian gunman on April 24 at around 2:45 pm.”

Okoli narrated that a lone Nigerian man walked to some Nigerians at a restaurant and inquired from them where to get some weed to smoke. He said those standing, however, told him that they did not know where since they do not smoke but the man pulled out his gun and shot Elochukwu on the head, then sped off in a car parked down the street.

He added that a case of murder had been opened at the police station by Obeji Chukwuma, NICASA chairman, in Mpumalanga area of the country. “This look like another case of Nigeria killing themselves. This ugly trend of Nigerians killed by fellow Nigerians is on the increase and is disturbing to our community. NICASA is deeply worried over the death and continued killings of our citizens in South Africa. People are worried and scared, since none of the perpetrators had been arrested or charged over it.”

He appealed to the consulate to put pressure on the South African police to pursue cases of killings of any Nigerian with seriousness. “The South African police must stop attempting to encourage this killings by lack of investigation and prosecution with aim of bringing to justice every criminal involved in these heinous crimes,” he said.

Adams also condemned the killings but said they do not fit into xenophobic attacks. “It is clear that as much as any form of criminality and xenophobic attacks against foreigners, including Nigerians in South Africa is condemnable, the killings do not fit into xenophobic attacks. The cases are the stabbing of a Nigerian, Mr Bonny Iwuola, in Turfontain in Johanesburg on April 6 at about 23:30 hours in front of his house, by unknown assailants, and more of crime related murder.

“Another Nigerian, Gozien Christian, from Agbor in Delta State, was stabbed to death by three unknown assailants. No arrest has been made but cases were opened and police are investigating the murders. The third case of murder which happened on the night of April 8 at Sunnyside in Pretoria happened at the usual place of cult-related murders by Nigerian cult groups. This particular case had more connection with business-related disagreement that turned sour.

“Investigations are on but eye witness accounts indicated that he was killed and his new Mercedes car-2019 model was snatched and driven away. All these cases do not appear to be xenophobic. They are part of the usual crime-related killings in South Africa. Police statistics in South Africa indicate that over 18,000 murders take place in South Africa in a year.”

SOURCE: https://www.thecable.ng/nigerian-shot-dead-in-south-africa

Nigeria has taken over from Egypt as number one rice producer in Africa, having satisfied local rice demand with about 3.8 million tonnes and leaving the rest for export. Egypt had been Africa’s largest rice producer cultivating over 445,000 hectares of farmland to produce 4.4 million tonnes annually, for both local consumption and exports.

Director General of the Africa Rice Centre in Benin Republic, Harold Roy-Macauley, told The Nation recently that Nigeria is now Africa’s largest rice producer.

According to Roy-Macauley, Nigeria now produces 4 million tonnes of rice annually, which is 400,000 tonnes smaller than Egypt’s annual production. Although the Nigerian government has made efforts to boost local rice production in recent times, Nigeria was only able to surpass Egypt at this time because the North African country voluntarily reduced rice production in 2018.

In March 2018, Abdelatif Khalid, head of the irrigation department at Egypt’s ministry of irrigation and water resources, said the country reduced cut rice production by 40% to save water. “We cannot do anything else in light of the limited amounts of water we have. We have to grow less rice to save the water for other uses,” he said.

“Egypt is water-poor already and it cannot keep growing crops that need huge amounts of water. Growing crops like rice and exporting it is akin to exporting water, which should not be allowed for a country like Egypt.”

Data made available by the Thai Rice Exporters Association website shows that Nigeria’s rice imports from the country have reduced.

At present, the Central Bank of Nigeria provides support to smallholder farmers by providing loans and linking them with companies in the processing of key agricultural commodities.

SOURCE: https://businesselitesafrica.com/trending/nigeria-now-no1-rice-producer-in-africa/

An Epidemiologist with the Ondo State Government, Dr Stephen Fagbemi, has reiterated the need for Nigerians to cultivate regular handwashing habit, saying it was capable of saving the country from a lot of diseases. In an interview with our correspondent, he said diseases like malaria, diarrhoea, hepatitis A, cholera, typhoid, and measles can be avoided by simple regular hand washing habits.

An international non-governmental organisation focused on water, sanitation, and hygiene, WaterAid, in its 2018 report said 150,000 annual deaths in Nigeria were a result of poor wash facilities and simple hygiene habits.

“The first thing is to create awareness, sometimes people need to know that it is the simple things that save a lot of time, but when things are so simple we often overlook them. Handwashing is a habit that people should cultivate right from home. Regular hand washing after toilet, after holding currency can go a long way in keeping people healthy. People should be enlightened that to properly wash their hands with soap and water; the front of the hands, the back of the hands, in between the fingers needs to be thoroughly washed then air dried it. They should also avoid sharing towels and handkerchiefs with people” Fagbemi said.

The Epidemiologist also urged parents to create a culture of hand washing at home by being good examples to their children so that as the child is growing up, he or she will live with the consciousness that not practising regular hand washing could expose him or her to germs which could also affect his or her health. He called on government and other stakeholders to ensure public spaces have access to running water to enhance the hand washing habit.

Speaking at the unveiling of Dettol’s Clean Naija initiative, General Manager, Reckitt Benckiser, Mr Dayanand Sriram, said hand washing was critical for a healthy life, stressing that Nigeria will save a lot of lives if the habit is imbibed. Sriram advised Nigerians to engage in regular and proper hand washing after using the toilet and after touching money.

He said the lack of handwashing habit has left many with germ-filled hands, making people prone to preventable diseases such as diarrhoea and other severe infections.

SOURCE ( abridged): https://punchng.com/handwashing-habit-can-save-nigeria-from-150000-annual-deaths-epidemiologist/

Chief Executive Officer of Glow Health, Miss Adanna Monde, has reiterated need for Nigerians to engage in exercise, saying it could improve people’s health and reduce risk of developing several diseases like type 2 diabetes, cancer and cardiovascular disease. Monde, at the unveiling of Glow Health, a nutrition and health consulting service on Thursday said a minimum of 30 minutes exercise a day could free people from cardiovascular disease.

She said the company was equipped with professionals including nutritionists, registered nurses, and public health professionals who would attend to health needs of clients.

“Our focus is grounded in health and nutrition sciences, blended with the principles of public health and health promotion with the aim of providing guidance based on science, evidence-based best practices and nutrition education in order to help clients adopt healthier, sustainable lifestyle changes. Glow Health thoroughly understands the disease processes, science and dietary treatment required to manage all diseases related to lifestyle including high blood pressure, high blood sugar, high cholesterol, gout, metabolic syndrome, heart disease, kidney disease, stroke, cirrhosis and obesity,” Monde said.

She added that the company offers public health consulting services and provides research and information that will lead to improved programmes and policies which will have direct impact on the health of the public.

SOURCE: https://punchng.com/exercise-can-reduce-risk-of-developing-type-2-diabetes-cancer/

WHAT IS BOWEL CANCER?
Also known as colorectal cancer, the disease affects the large bowel and back passage or rectum. It tends to grow slowly, often over a period of up to ten years before it starts to spread to other parts of the body.

It's the 4th most common cancer in the UK - but the 2nd most deadly. It is very treatable if caught and diagnosed in the earliest stages. Around 41,200 people are diagnosed with the disease every year - more than 90% of those are in people aged 50 or over. But young people are not immune, with 2,500 new cases in people under 50 every year.

Red-flag #1: Bleeding
There are several possible causes of bleeding from the bum, of blood in the poo. Bright red blood could come from swollen blood vessels, haemorrhoids or piles, in the back passage. Dark red or black blood could come from the bowel or stomach. Blood in stools is one of the key signs of bowel cancer, so it's important to mention it to your doctor so they can investigate.

Red-flag #2: Toilet habits
It's important to tell your doctor if you notice any changes in bowel habits, that lasts three weeks or longer. It's especially important if you have also noticed signs of blood in your poo. You might notice you need to go to the loo more often, you might have looser stools or feel like you're not going enough or fully emptying your bowels.

Red-flag #3: Weight loss
This is less common than the other symptoms, but an important one to be aware of. If you've lost weight and don't really know why, it's worth mentioning to your doctor. You may not feel like eating, feel sick, bloated and not hungry.

Red-flag #4: Feeling tired
Bowel cancer that causes bleeding can cause a lack of iron in the body - anaemia. If you develop anaemia you're likely to feel tired and your skin might look pale.

Red-flag #5: Pain or lump
As with lots of other forms of cancer, a lump or pain can be a sign of bowel cancer. It's most likely you'll notice a pain or lump in your stomach or back passage. See your Doctor if it doesn't go away, or if it affects how you eat or sleep. Don't let embarrassment kill you

Other signs of bowel cancer include:
-- gripping pains in the abdomen
-- feeling bloated
-- constipation and being unable to pass wind
-- being sick
-- feeling like you need to strain - like doing a number two - but after you've been to the loo.

If you spot any of these signs, or generally feel something is up, don't delay. Go and see your doctor.

ARTICLE SOURCE (abridged): https://www.thesun.co.uk/fabulous/8946630/deborah-james-bowel-cancer-symptoms/

PHOTO SOURCES:
(1). https://www.thesun.co.uk/archives/news/1128235/thousands-of-people-are-dying-of-bowel-cancer-because-theyre-ignoring-tell-tale-signs-of-the-killer-disease-say-doctors/#

(2). https://www.bowelcanceraustralia.org/media/k2/items/cache/3a87681a8365cb10ceb54d7831ccad1f_XL.jpg?t=1481525510

Billionaires inspire us to be great just as they are. However, they didn’t achieve success by mere luck. Instead, they got there by developing good habits which are powerful tools that can be used to reach certain goals in areas like health, fitness, money, relationships etc.

Inculcating the habits below will not guarantee you become a billionaire; however it will help you become more productive and successful in your life endeavours.

Below are some billionaire habits we can all develop:

1. THEY WAKE UP EARLY AND EXERCISE
Nigerian billionaires make the best use of time by waking up early, thereby creating time for other priorities. Exercising is also part of their morning routine because that is when testosterone levels are high. It has other benefits such as strengthening the heart and playing a major role in increased energy, positivity, and stress management.

Research shows that exercising early in the morning will help boost memory, concentration and mental sharpness – which are traits that can have a big influence on career and success. Femi Otedola, in an interview with one of the national newspapers, said he wakes up around 6:30am every morning and heads to the gym for 1 hour. Aliko Dangote wakes up before 5:30am and goes on a 10 kilometer run.

2. THEY NETWORK/POLITICK/FOLLOW UP
Nigerian billionaires know how to network. This gives them opportunities to have exclusive rights to many things that are not offered to ordinary individuals; Speaking engagements, trips, best of meals, private and public events, and most importantly the ability to push their ideas forward by meeting the right people.

The truth is they are also good at politicking because they know that political leaders make policies that will affect their businesses. So, they get involved. A brief look at some billionaires perspectives on networking:

Jim Ovia: Place more value in who you know than what you have. The entrepreneur sees a potential ally in everyone. Establish your network 1 person at a time by being reliable and patient. Pave the way instead of burning bridges.

Tony Elumelu on his advice to youths on what worked for him said “Never take others for granted. Nurture your relationships. In the same way, as you start out in your career, build your relationships, seek to learn, don’t be afraid to understudy the experts, reach out to potential mentors and learn from them.”

3. THEY ARE LEARNERS
Nigerian billionaires read a lot. They just don’t read for entertainment, they study trends, concepts and apply what they have learnt to become successful.

To show how much of a reader he is, Tony Elumelu, on World Book Day, recommended 5 books that have had a huge impact on his life. They include:
-- Outliers by Malcom Gladwell,
-- The Creation of Wealth: The Tatas from 19th to 21st Century by R.M. Lala,
-- Think Big by Ben Carson,
-- Kane & Abel by Jeffrey Archer, and
-- Shall We Tell The President by Jeffrey Archer

What they watch also matters. Aliko Dangote spends his time watching a lot of business channels such as Bloomberg TV. Doing this gives him insightful information into global business.

4. THEY DIVERSIFY
Nigerian billionaires are experts at diversifying major things in their life. They diversify their sources of income/products, they diversify the countries they invest in, and they diversify the people they surround themselves with.
-- Mike Adenuga has investments in Oil, Telecoms, Real Estate, and Banking sectors.
-- Femi Otedola has investments in Oil, Shipping, Real Estate, amongst other sectors.

5. THEY SURROUND THEMSELVES WITH SMART PEOPLE
There is a saying “you are the average of the 5 people you spend most of your time with”. Nigerian billionaires surround themselves with the smartest people ranging from strategists, advisers, accountants, and fellow billionaires who they continually brainstorm with on ideas to keep expanding their frontiers.

SOURCE: https://nairametrics.com/2019/04/26/habits-of-nigerias-business-billionaires/

The Federal Government has declared that foreign professionals will no longer be engaged in the execution of projects involving national security. The Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola, made the announcement in Abuja yesterday, when he declared open the 2019 Architects Colloquium organised by the Architects Registration Council of Nigeria (ARCON).

Fashola who was represented by the Head of Power Public Private Partnership, Ministry of Power, Mrs Eucharia Alozie, said that government was now placing premium on the use of indigenous professionals and firms to execute projects where national security is at stake. He said foreign experts will only be engaged when their Nigerian counterparts are not available, adding even at that, Nigerian professionals will be assigned to understudy them.

Fashola who decried the spate of collapsed buildings in the country as national embarrassment, tasked architects to lead the debate and give guidance to government at all levels for the best way forward for the housing and built industry.

He tasked ARCON to tutor its members to design houses in line with the cultural and religious sentiments of Nigerians and reflect the changing contemporary social and technical climates in the designs. The minister also disclosed that government is earnestly awaiting the implementation of ARCON concept to tag projects with registration numbers while also calling on town planning authority to insist on the seal of a licensed architect before approving any project drawing.

SOURCE: https://www.thisdaylive.com/index.php/2019/04/26/fg-bans-foreigners-from-designing-security-projects/?amp

A Federal High Court sitting in Awka Division, Anambra State has issued a bench warrant for the arrest of Azubuike Jerry, Ikechukwu Patrick, Cosmas Onwuka and Igboanusi Jerry, for production of substandard Liquefied Petroleum Gas Cylinders.

In the matter between the Standards Organisation of Nigeria (SON) and the suspects, the organisation stated that sometime in 2018, its officers carried out a standards enforcement activity at the premises of the United Welders Association 58, Bida Road Onitsha, Anambra State where approximately 1,700 suspected substandard LPG cylinders were detained. Lead Counsel for the prosecution, Moor Kuma stated that SON subjected the said cylinders to testing and they failed critical parameters including Proof Pressure Test, Burst Pressure Test, Leakage and volumetric expansion tests, following which charge No: FHC/ Awk/C/84/18 was filed at the Federal High Court against the Defendants.

At the resumed hearing of the matter on 15th April 2019, the presiding Judge, Hon. Justice B.O Quadri dismissed the notice of preliminary objection challenging the jurisdiction of the court, filed by the defendants through their Counsel George I. Egbere from the law firm of O.J. Nnadi SAN & Co. for want of diligent prosecution. The Prosecution then applied to the court for the issuance of a bench warrant to officers of the Nigeria Police Force and the Nigeria, Security and Civil Defence Corps for the arrest of the Defendants for the purpose of bringing them before the court.

The Court accordingly granted the application and issued the said warrant of arrest.

Some of the charges against the accused persons include:1 “That you, Mr. Azubuike Jerry ’M’, Mr. Ikechukwu Patrick “M”, Mr. Cosmas Onwuka “M” (still at large) and Mr. Igboanusi Jerry “M” (still at large), all members of United Welders Association Anambra State, along 58, Bida Road Onitsha, Anambra State, within the jurisdiction of this Honourable Court on or about 27th, June, 2018, did expose for sale or uses LPG gas cylinders of various sizes (3kg, 5kg, 6kg & 10kg) to the public which did not comply with the Nigerian Industrial Standard NIS 69:2013 (specification for refillable Liquefied Petroleum Gas (LPG) Cylinders) and thereby committed an offence punishable under Section 26 (2) (i) of the Standards Organisation of Nigeria Act, 2015”.

2 “That you Mr. Azubuike Jerry ’M’, Mr. Ikechukwu Patrick “M” and Mr. Cosmas Onwuka “M” (still at large) and Mr. Igboanusi Jerry “M” (still at large), all members of United Welders Association Anambra State, along 58, Bida Road Onitsha, Anambra State, within the jurisdiction of this Honourable Court, on or about 27th, June, 2018, engaged in the manufacturing/fabrication of LPG Cylinders of various sizes (3kg, 5kg, 6kg & 10kg), to the public which did not comply with the Nigerian Industrial Standard (NIS 69:2013), (specification for refillable Liquefied Petroleum Gas (LPG) Cylinders) and thereby committed an offence punishable under Section 26 (2) (i) of the Standards Organisation of Nigeria Act, 2015.”

The matter was subsequently adjourned to May 13, 2019, for the arraignment of the accused persons.

SOURCE:
https://brandspurng.com/2019/04/23/substandard-lpg-cylinders-court-issues-bench-warrant-on-4-suspects-in-anambra/

It is another new trading week and investors are getting ready to pick stocks to buy, sell or hold. This is where Analysts at Meristem Research come handy, as they give insight into which equities to pick and expect yields in the short-term.

Five main stocks have been pencilled down for consideration, while others have also made their watch list.
1. Dangote Cement at its present price of N189 could sell later at N232.11k per unit, giving a yield of 22.81%.
2. FCMB sells at N1.90k at the moment and could return 19.47% after hitting N2.27k per share.
3. Fidelity Bank shares could give 19.59% gain, selling later at N2.32k against present value of N1.94k.
4. Mobil Oil Nigeria is anticipated to hit N199.38k per unit from N175 it sells now, yielding 13.93%.
5. Zenith Bank sells at N20.90k at the moment and could return 32.92% to sell at N27.78k.

The other stocks recommended by Meristem Research for this week are presented below for your perusal (due diligence is advised, of course).

SOURCE (abridged): https://businesspost.ng/2019/04/23/you-may-consider-buying-these-stocks-this-week/

Sprinter Divine Oduduru, last weekend gave Nigerian athletics hope by running 9.95seconds, a world leading performance at the Michael Johnson invitational meet in Waco Texas, USA. It was the first time a Nigerian sprinter is breaking the 10.00 seconds barrier since 2006, when Olusoji Fasuba broke the African record with a 9.85 seconds run in Doha, Qatar.

Before going under 10.00seconds, Oduduru ran 19.76 seconds in the 200m to erase (subject to ratification) the 19.84 seconds national record held by Francis Obikwelu since 1999. Oduduru’s 19.76 is the third fastest African time in the 200m. Frankie Fredericks has the fastest 19.68 seconds, which is the African record since 1996.

Oduduru who is a student of the Texas University of Technology has established himself as the athlete to beat at the All Africa Games and with a little bit more push by him, he could also be a candidate for the gold at the World Athletics Championships in Doha. At the 2018 African Athletics Championships in Asaba, Delta State, Oduduru was eclipsed by the likes of Akani Simbine who posted 10.25 seconds, Arthur Cise of Cote d’ Ivoire 10.33 and Simone Magakwe of South Africa with 10.35. In the 200m Oduduru took the silver with 20.60 seconds, while South Africa’s Ncincihli Titi topped with 20.46seconds.

“I’m not surprised by Oduduru’s rise. He has always had the potentials since his junior days,” said former sprinter Deji Aliu.

“I knew that it wouldn’t be long before he breaks 10.00 seconds. He can do better than he is doing now if the Athletics Federation of Nigeria and indeed the sports ministry come to his support. “This is because he is in school and they can load him with competitions since they have him under scholarship. And at the end of the day wouldn’t have the energy to deliver when it matters most.”

SOURCE: https://www.vanguardngr.com/2019/04/how-divine-oduduru-broke-nigerias-sprint-jinx/