₦airaland Forum

For the first time in over a decade, precisely in 14 years, shareholders of Wema Bank Plc will receive reward for their investment in the company.

Last Friday, the financial institution released its earnings for 2018 and the board recommended payment of cash dividend of 3 kobo per share to shareholders. However, this dividend payment is subject to approval of shareholders at the Annual General Meeting (AGM) later in the year.

Analysis of the financial scorecard of Wema Bank indicates the lender pushed its gross earnings up by 9.59% to N71.5 bn from N65.3 bn in 2017, while interest income appreciated by 8.60% to N57.6 bn from N53.1 bn. Net fees and commission increased to N6.5 bn from N5.6 bn, net trading income rose to N5.5 bn from N4.8 bn, while other income appreciated to N1.8 bn from N1.6 bn.

During the year, the bank’s total assets rose to N488.8 bn from N387.6 bn, while total liabilities went up to N437.9 bn from N337.9 bn, with shareholders funds rising to N50.9 bn from N49.6 bn. While profit before tax rose by 59.43% to N4.8 bn, profit after tax rose by 47.48% to N3.3 bn from N2.3 bn, with earnings per share going up by 48.28% to N8.60k from N5.80k.

Business Post reports that Wema Bank, before bouncing back, had undergone turbulent times, including lowering its coverage area before raising it again. The board and management took several steps to ensure the bank became healthy again and at the last AGM, the bank promised to resume payment of dividend very soon.

SOURCE (abridged): https://businesspost.ng/2019/03/31/wema-bank-announces-first-dividend-in-14-years-as-profit-rises-47/

With so many options, selecting stocks can be a challenge for the average investor. While each individual's goals may differ, having a clear set of rules can help.

Following are six basic rules to consider:

RULE 1: Invest in stocks that offer an easy-to-understand, fairly straightforward company business model. If you happen to have or understand specific industry knowledge about a company that other investors might find complicated, those stocks are also worth a look for your investing universe. This piece of advice is one of the hallmarks of Warren Buffett's long-term investing philosophy. Berkshire Hathaway's largest holding, after all, is Coca-Cola, a company many recognize as a solid and trusted investment.

RULE 2: Invest only in companies that are "best in breed." This includes companies that have tremendously-established brands or extremely strong emerging brands. This is key. Keep in mind that in some sectors, the concept of "brand" means less than in other areas of the market. Branding, for example, means less in the mining sector than it does in retail.

Overall, it is best to stick with preeminent, ubiquitous, and highly-admired brands as well as underweight sectors where these stocks are hard to find or do not exist. When investing in less "brand conscious" sectors, however, stick with the "best in breed" companies and follow the other parts of the strategy highlighted here. The concept of brands being "moats" around businesses is something Buffett has spoken about in-depth. Furthermore, if you look at many of the best performing stocks in history, all have one thing in common - a tremendous brand.

RULE 3: While the old investing axiom, "past results do not guarantee future performance" is true - and frequently repeated - it is also misleading. In order for a stock to meet the criteria of this investing strategy, it has to be a strong past performer. It doesn't have to be up over the last year or even a couple of years, but the long-term chart has to be compelling.

Ask yourself the following: do you want to invest in a business, brand, and management team that has destroyed shareholder value over the long-term, or the one that has made shareholders rich? The answer is obvious. Simply put, buy stocks that fit the above metrics and that have performed well over a substantial period of time. If you are screening for tremendously-established brands as well as rapidly-emerging brands, this shouldn't be a problem. Most companies that fit this profile have a great long-term track record of creating shareholder value.

RULE 4: Invest in mid-capitilization and large-cap companies. Try to avoid small-cap names. This isn't an edict, as there are some great small companies that would fit this investing framework, but make sure most of your picks conform to this advice. Like many of the tips provided here, it is from the Benjamin Graham and Buffett school of thought. Furthermore, if you are investing in "best of breed" companies and preeminent brands, following this rule shouldn't be a problem.

RULE 5: Try to focus on companies that pay dividends. Again, this is not an edict. As a rule, just make sure that a majority of your portfolio's companies pay out an interim and/or annual dividend.

RULE 6: Ideally, you want to buy stocks that fit this framework either on significant market pullbacks (downturns) or when the stock is breaking out from a large consolidation area or base. The idea of buying on breakouts from large basing areas comes from legendary investor and founder of Investor's Business Daily William O'Neill's CAN SLIM strategy. In particular, look for this pattern with emerging brand stocks and try to buy the more established companies as cheap as possible, to hold onto for the medium to long haul.

SOURCE abridged): https://www.forbes.com/sites/benzingainsights/2012/06/15/six-rules-to-follow-when-picking-stocks/#1393273a5a2e

SOURCE: https://www.dailymail.co.uk/news/article-6861781/European-parliament-passes-resolution-calling-reparations-crimes-against-Africa.html

European parliament passes watershed resolution calling for reparations for crimes against Africa during European colonialism

The Eurpean parliament has overwhelmingly backed a watershed resolution calling for reparations for crimes committed in Africa during European colonialism. The bill urges European member states to introduce a series of sweeping reforms aimed at tackling 'structural racism' facing millions of Afro-Europeans. It calls on the countries to implement nation-wide strategies to deal with discrimination in education, health, housing, policing, the justice system and politics.

The resolution - approved by 535 MEPs, with 80 votes against and 44 abstentions - also calls on European member states to declassify their colonial archives, covering the most disturbing periods of Europe's colonial past, and issue public apologies. The resolution was drawn up by British Labour MEP Claude Moraes. It urges the EU to adopt 'a workforce diversity and inclusion strategy' to address the underrepresentation of ethnic minority officials. As it stands, the EU does not share data on race, ethnicity or religion because it's considered contrary to equality, The Guardian reports.

The text is not legally-binding, but it was hailed as a watershed moment by campaign groups for specifically focusing on the discrimination faced on the continent by an estimated 15 million people.

'Histories of injustices against Africans and people of African Descent – including enslavement, forced labour, racial apartheid, massacre, and genocides in the context of European colonialism and the transatlantic slave trade – remain largely unrecognised and unaccounted for at an institutional level in EU member states,' the text states.
The text was inspired by the racist behavior experienced by Italian socialist MEP Cecile Kyenge (pictured), who served as Italy’s first black government minister.

The resolution was drawn up by British Labour MEP Claude Moraes and was inspired by the racist behavior experienced by Italian socialist MEP Cecile Kyenge, who served as Italy’s first black government minister. Pressure is now on the European commission to fund the schemes in the EU's next seven-year budget.

Amel Yacef, the chair of the European Network Against Racism, told The Guardian the vote was 'a historic, watershed moment for the recognition of people of African descent in Europe'. She added: 'The European parliament is leading the way and sending a signal to EU member states to tackle structural racism that prevents black people from being included in European society. The ball is now in their court: we need concrete action plans and specific measures now.'

The Debt Management Office on Wednesday said that FGN Bonds offered to investors for the month of March was oversubscribed by N140bn. In a statement made available to our correspondent in Abuja, the DMO said it offered N100bn bonds but received a subscription of N240.6bn.

The DMO said, “The FGN Bond auction for March 2019 conducted on Wednesday at which N100bn bonds were offered was oversubscribed just as in the auctions for January and February. We offered three instruments at the auction for three, seven and 10-year tenors and subscriptions for the three instruments was in excess of N148bn for competitive bids. Non-competitive bids valued at N92.6bn were also received, taking the total subscriptions across the three tenors to over N240.6bn.”

It added, “The trend of investors’ preference for the longer tenured instrument continued, with the 10-year bond significantly oversubscribed with a bid-to-cover ratio above five. Allotments were made to successful bidders at the rates of 13.5 per cent for the five-year, 13.5 per cent for the seven-year and 13.5 per cent for the 10-year bonds, which are considerably lower than the allotment rates for the February 2019 auction.”

The DMO said that total amount allotted to both competitive and non-competitive bids for the three instruments was N121.95bn.

SOURCE: https://punchng.com/investors-oversubscribe-march-fgn-bonds-by-n140bn/

Subscribers to mobile telecommunications services in Nigeria spent about N767.23bn on airtime purchase from November 2018 to January 2019, investigations have revealed. This figure is based on number of subscribers in the three months under review, as obtained from the Nigerian Communications Commission (NCC), and the industry’s Average Revenue Per User (ARPU) provided by network operators.

In November 2018, monthly subscriber data from NCC showed there were 168.73 million active GSM subscribers from MTN, Globacom, Airtel and 9mobile. In the following month, data indicated that number of active subscribers rose to 172.63 million while in January 2019, the country had 173.63 million active GSM users.

With the telecommunications companies’ ARPU amounting to $4.87 (N1490.22) per month, Nigerians spent N251.44bn on airtime in November 2018. Based on the same estimated monthly revenue per user in the industry, expenses on airtime purchase increased by two per cent to reach N257.04bn in December 2018. In January this year, about N258.74bn was expended by active Nigerian subscribers on airtime, giving a total of N767.23bn in the three months under review.

Sales of airtime remain the core revenue earner for telcos and generate income for operators via voice calls, SMS, data subscriptions and value-added services. Nigerians purchase airtime through various platforms such as physical recharge card, virtual top-up via USSD code, subscribers’ bank accounts domiciled on mobile devices, vending on web-based platforms and on Automated Teller Machines.

Despite predictions by analysts that voice and messaging revenue would decline due to proliferation of instant messaging apps, revenue from airtime continues to rise. A market research firm, Ovum, had predicted there would be a drop in spending on traditional communication services offered by the incumbent telcos by 36 per cent in the next 10 years.

Ovum noted that service offerings of messaging apps were built on innovative business models and offered a much lower price than traditional telcos were offering. However, the wide use of these messaging apps whose services are driven by data and strong Internet connection have encouraged network providers to invest massively in broadband infrastructure and upgrade their Internet network across the country.

Airtel Nigeria in its 2018 third-quarter report stated that in the last one year, it had doubled its number of broadband base stations from 5,652 that it had in December 2017 to 10,369 base stations as of December 2018. The telco also reported $223m capital expenditure in Nigeria mainly for network upgrade and expansion.

Last year, MTN upped its capital investment when it secured N200bn medium-term loan from 12 Nigerian banks, mainly to drive Internet expansion and rural telecom devices.

SOURCE (abridged): https://punchng.com/nigerians-spend-n767-23bn-on-airtime-in-three-months/

The Electricity Power Reform Act (Amendment) Bill 2018 passed by the House of Representatives last Tuesday prohibiting and criminalising estimated billing has proposed a one year jail term and a fine of N1m for defaulters.

The proposed law, which will be transmitted to the Senate for concurrence and onward transmission to the President for his assent, also compels all electricity distribution companies to give prepaid meters to applicants within 30 days. If assented to, the law will bar a Disco from disconnecting a consumer after the 30-day period within which a meter should be installed.

Majority Leader of the House, Mr Femi Gbajabiamila, sponsored the bill in protest against ‘crazy’ billing of consumers by Discos. He said, “Any regulation that allows estimation of bills when actual consumption can be ascertained is against natural justice and equity and should not stand.”

The majority leader had also said the bill, when passed into law, would stop estimated billing. The House passed the bill upon adoption of the committee report on the proposed law, following a public hearing held on June 5, 2018. Sections 68 to 72 are some of the amendments to the Principal Act.

Section 68 states, “estimated billing methodology is hereby prohibited in Nigeria".

SOURCE: https://www.gist mania.com/talk/topic,382310.0.html

Operatives of the Federal Special Anti-robbery Squad, FSARS at Adeniji Adele, Lagos Island, Lagos have arrested a fleeing robbery suspect who allegedly connived with an accomplice now at large to rob and kill a Taxify (Bolt) driver before absconding with the victim's Toyota Camry Car.

According to PM Express, the suspect, Ikechukwu Ozorumba, 29, a native of Obolo Uku, Delta State but resident at 16, Yaro Street, Okokomaiko, a suburb of Lagos, allegedly conspired with his friend simply called Nkelechi, aka Sunshine to rob the driver, Ebenezer Olotu, a native of Akoko in Ondo State of his Toyota Camry Car with number plate, SMK 980 FM at Okokomaiko area of Lagos, allegedly killed him and drove the car to Imo State to look for a buyer.

Police also arrested alongside the suspect one Chima Chukwuemeka, 38, a palm oil farmer in Oguta, Imo State for allegedly harboring the robbery suspect in his farm to evade Police arrest.

Nemesis caught up with the robbery suspect when the family of the late driver petitioned the Deputy Commissioner of Police, DCP in charge of FSARS, Lagos, Mr. Kola Kamaldeen that their breadwinner who worked as a Taxify (Bolt) driver in Lagos left home for work on 26 December, 2018 and had yet to return home since.

Following the report, Kamaldeen directed his crack team led by SP Olaniyi Festus to do everything to locate the missing driver.
After days of intelligence gathering in Lagos metropolis, the Police team, following a tip off, found the corpse of the late driver dumped at Jimoh Street, Okokomaiko, Ojo, Lagos. The Police evacuated the corpse and deposited it in the mortuary.

The Police team later tracked the robbery suspect through the phone number of the victim to Imo State, where they arrested the oil farmer, who then led the Police to his farm in Oguta, where the suspect was arrested. The suspect then led the Police to recover the stolen car at a hideout in Imo State. The two suspects and the recovered car were then brought to the FSARS office in Lagos.

During investigation, the robbery suspect allegedly confessed to the crime and said he and his accomplice, Nkelechi (now on the run) did not intend to kill the driver, but just to rob him of his car and that the driver’s stubbornness led to his death. In his alleged confessions to the Police, Ikechukwu allegedly stated: “On 26 December, 2018, we chartered the driver as passengers in Surulere area of Lagos and told him to take us to Okolomaiko area of Lagos. On our way, we ordered the driver to surrender his car keys to us, but he refused and started struggling with us. In the process, we strangled him to death and dump his body at Jimoh Street, Okokomaiko and drove the car straight to Imo State to look for a buyer.”

In his own narrations, Chukwuemeka allegedly stated that if he had known that Ikechukwu robbed a driver of his car and killed him, he would not have harbored him in his farm till the Police came from Lagos to arrest him over a matter he knew nothing about.

A Police source said that the suspects would be charged to Court after completion of investigations.

SOURCE (abridged): https://www.gist mania.com/talk/topic,382270.0.html

Article you may find interesting...

https://www.nairaland.com/5092031/how-pick-stocks-using-aroon#76873106

What is the Aroon Indicator?

The Aroon indicator is a technical indicator used to identify trend changes in the price of an asset, as well as the strength of that trend. In essence, the indicator measures the time between highs and the time between lows over a time period. The idea is that strong uptrends will regularly see new highs, and strong downtrends will regularly see new lows. The indicator signals when this is happening, and when it isn't.

The indicator consists of the "Aroon up" line, which measures the strength of the uptrend, and the "Aroon down" line, which measures the strength of the downtrend. The Aroon indicator was developed by Tushar Chande in 1995.

Key Takeaways:
-- The indicator is composed of two lines. An up line which measures the number of periods since a High, and a down line which measures the number of periods since a Low.
-- The indicator is typically applied to 25 periods of data, so the indicator is showing how many periods it has been since a 25-period high or low.
-- When the Aroon Up is above the Aroon Down, it indicates bullish price behavior.
-- When the Aroon Down is above the Aroon Up, it signals bearish price behavior.
-- Crossovers of the two lines can signal trend changes. For example, when Aroon Up crosses above Aroon Down it may mean a new uptrend is starting.
-- The indicator moves between zero and 100. A reading above 50 means that a high/low (whichever line is above 50) was seen within the last 12 periods.
-- A reading below 50 means that the high/low was seen within the 13 periods.

Formulas for the Aroon Indicator:
Aroon Up= 25 minus Periods Since 25-Period High divided by 25. Multiply by 100.
Aroon Down= 25 minus Periods Since 25-Period Low divided by 25. Multiply by 100.

Arron UP and Aroon Down Indicator Formulas.
How to Calculate the Aroon Indicator

The Aroon calculation requires the tracking of the high and low prices, typically over 25 periods.

-- Track the highs and lows for the last 25 periods on an asset.
-- Note the number of periods since the last high and low.
-- Plug these numbers into the Up and Down Aroon formulas.

What Does the Aroon Indicator Tell You?

The Aroon Up and the Aroon Down lines fluctuate between zero and 100, with values close to 100 indicating a strong trend and values near zero indicating a weak trend. The lower the Aroon Up, the weaker the uptrend and the stronger the downtrend, and vice versa. The main assumption underlying this indicator is that a stock's price will close regularly at new highs during an uptrend, and regularly make new lows in a downtrend.

The indicator focuses on the last 25 periods, but is scaled to zero and 100. Therefore, an Aroon Up reading above 50 means the price made a new high within the last 12.5 periods. A reading near 100 means a high was seen very recently. The same concepts apply to the Down Aroon. When it is above 50, a low was witnessed within the 12.5 periods. A Down reading near 100 means a low was seen very recently.

Crossovers can signal entry or exit points. Up crossing above Down can be a signal to buy. Down crossing below Up may be a signal to sell.

When both indicators are below 50 it can signal that the price is consolidating. New highs or lows are not being created. Traders can watch for breakouts as well as the next Aroon crossover to signal which direction price is going.

Example of How to Use the Aroon Indicator:

The attached chart shows an example of the Aroon indicator and how it can be interpreted.
In the chart, there is both the Aroon indicator and an oscillator that combines both lines into a single reading of between 100 and -100. The crossover of the Aroon Up and Aroon Down indicated a reversal in the trend. While the index was trending, prior to the reversal, the Aroon Down remained very low, suggesting that the index had a bullish bias. Despite the rally on the far right, the Aroon indicator hasn't shown a bullish bias yet. This is because the price rebounded so quickly that it hasn't made a new high in the last 25 periods (at the time of the screenshot), despite the rally.
The Difference Between the Aroon Indicator and the Directional Movement Index (DMI)

The Arron indicator is similar to the Directional Movement Index (DMI) developed by Welles Wilder. It too uses up and down lines to show the direction of a trend. The main difference is that the Aroon indicator formulas are primarily focused on the amount of time between highs and lows. The DMI measures the price difference between current highs/lows and prior highs/lows. Therefore, the main factor in the DMI is price, and not time.
Limitations of Using the Aroon Indicator

The Aroon indicator may at times signal a good entry or exit, but other times it will provide poor or false signals. The buy or sell signal may occur too late, after a substantial price move has already occurred. This happens because the indicator is looking backwards, and isn't predictive in nature.

A crossover may look good on the indicator, but that doesn't mean the price will necessarily make a big move. The indicator isn't factoring the size of moves, it only cares about the number of days since a high or low. Even if the price is relatively flat, crossovers will occur as eventually a new high or low will be made within the last 25 periods. Traders still need to use price analysis, and potentially other indicators, to make informed trading decisions. Relying solely on one indicator isn't advised.

SOURCE: https://www.investopedia.com/terms/a/aroon.asp

maryjames9:
Guy please where can one get these charts. I have tried to take a dive into Nigeria Stock Markets but I don't know where to get the charts of various Nigerian companies. Where can I get the charts. Is it MT4 or some NSE platform web trader?

Try this site (you will need to select the Company and chart parameters and then click on "Update chart" ):

http://trw-stockbrokers.com/charts.aspx

Article you might find useful...

https://www.nairaland.com/5090084/how-pick-stocks-using-moving#76842755

SOURCE (abridged): https://nairametrics.com/2018/12/18/using-moving-averages-cross-over-to-pick-stocks/

USING MOVING AVERAGES CROSS OVERS TO PICK STOCKS by Uche Ndimele

Moving averages can be used to make stock selection decisions. The moving averages mostly used by stock traders are the 50-day and 200-day moving averages. This post discusses how to combine moving averages for better trading signals.

Oftentimes, the 50-day and 200-day moving averages are combined to produce useful indicators that can generate profitable trades. Usually, there is a general consensus among technical analysis experts that when the short-term moving average (50-day SMA) moves above a longer-term moving average (200-day SMA), a buy signal is created. This movement above the long-term moving average by the shorter term one, is called "golden cross".

On the other hand, when the short-term moving average (50-day SMA) moves below the longer-term moving average (200-day SMA), a sell signal is created, and this crossing is the "death cross".

Lets take a look at the attached chart depicting daily prices of Dangote Cement Plc in light blue, the 40 weeks, (200-day SMA) moving average in green and the 10 week (50-day SMA) moving average in purple.

You will discover that on June 9th, 2017, the 50-day SMA crossed above the 200-day SMA forming a golden cross and signaling a BUY. You will also discover that true to the prediction, the prices of Dangote Cement plc trended upwards after that golden cross and traded above its 200-day moving average.

As can also be seen on the chart, the trend reversed around March 21, 2018, and on June 22, 2018, the 50-day SMA crossed below the 200-day SMA forming a death cross. Since then, the prices have trended down, and it does not look like a reversal is in sight any time soon.

What have we learnt from this chart?

What we have leant is that the crossover of the two moving averages on June 9, 2017 indicated that it was about time to buy, and if you did go long on the crossover you would have bought at ₦169.038 and define your target exit price of which you would have been able to sell those at prices as high as ₦278 per share.

However, if you cannot figure that out a target exit price, you could exit when the 50-day SMA crossed the 200-day SMA (the death cross) on June 21, 2018, in which case you would have been able to sell at ₦239 per share. By so doing, you would have made ₦108.96 per share, if you exited at the target exit price or ₦69.96 per share, if you waited for the death cross to form. Give and take, you ended up with a gain. That is the beauty of moving average cross over system.

Unfortunately, not a lot of people have the ability to calculate and track moving averages of stocks on daily basis, let alone finding out when prices cross above or below such moving averages. We will endeavor to identify stocks that exhibit cross overs and issue an alert as soon as we identify those. So, watch out for our moving average cross over alerts.

Boeing has recommended a temporary suspension of its "entire global fleet" of the 737 MAX aircraft after several countries, including the US, banned their use in the wake of the Ethiopian Airlines crash that killed all 157 people on board. Boeing said it proposed the suspension to the US Federal Aviation Administration (FAA) on Wednesday "out of an abundance of caution".

"We are supporting this proactive step out of an abundance of caution," said Dennis Muilenburg, Boeing's president, CEO and chairman in a statement on the company's website. "We are doing everything we can to understand the cause of the accidents in partnership with the investigators, deploy safety enhancements and help ensure this does not happen again."

The FAA ordered the temporary grounding, pending investigation, of all 737 MAX aircraft operated by US airlines or in US territory shortly afterwards. It said the decision was based on new evidence gathered at the Ethiopia Airlines crash site, near the capital, Addis Ababa, as well as "newly refined satellite data". The move came minutes after US President Donald Trump issued an emergency order calling for the grounding of all Boeing 737 MAX 8 and MAX 9 aircraft in the country.

Sunday's Ethiopia Airlines crash was the second accident involving the US-based aerospace giant's MAX 8 model within six months. Last October, a Lion Air-operated MAX 8 went down in Indonesia in October, killing 189 people. Both crashes took place shortly after takeoff and have prompted intense scrutiny over the airplane's control systems.

In addition to the US, several other nations have also banned the use of 737 MAX models in their airspace in recent days, including China, Canada, India and the 28-countries comprising the European Union.

Shares in the company fell precipitously on Wednesday, plunging by nearly 3% and putting the stock down more than 13% since before Sunday's crash. The downturn has wiped billions off the company's market value.

SOURCE: https://www.aljazeera.com/news/2019/03/trump-announces-ban-boeing-737-max-8-max-9-190313183219113.html

The US grounds Boeing 737 Max 8 and 9 jets involved in two deadly crashes

President Trump announced on Wednesday that the US would temporarily ban all Boeing 737 Max 8 and 9 jets from flying, following nearly every country in the world that has ordered that the airplane be grounded since the deadly crash in Ethiopia on Sunday.

More than 40 countries have grounded the 737 Max 8 after it was involved in two deadly crashes, one in Indonesia last October and the more recent one in Ethiopia. But until now, the US Federal Aviation Administration allowed the plane to fly, and the Trump administration was criticized for putting Boeing’s well-being over the safety of American passengers.

On Wednesday, Trump finally bowed to pressure from the international community and US lawmakers from both parties by announcing the temporary ban.

“Boeing is an incredible company,” Trump said in a briefing to reporters. “They are working very, very hard right now, and hopefully they’ll quickly come up with the answer. But until they do, the planes are grounded.”

Last October, Lion Air Flight 610 crashed off the coast of Indonesia, and all 189 passengers on board were killed. That investigation is ongoing, but it has focused on the Max 8’s stall-prevention system, apparent maintenance lapses, and potential pilot error. The cause of the Ethiopian Airlines crash last Sunday is unknown, but investigators have recovered the flight and data recorders. The Ethiopian Airlines crash killed 157 people.

In incident reports that surfaced this week, pilots had reported that the Max 8 jetliner would tilt suddenly after takeoff, among other concerns. But Boeing has said it still has confidence in the 737 Max 8.

In a new statement on Wednesday, Boeing reiterated that point, while also saying it supports the decision to ground its planes. The company’s statement appears to frame it as an internal decision made in collaboration with the FAA and the National Transportation Safety Board, even though Boeing CEO Dennis Muilenburg has reportedly lobbied Trump personally to allow the Max 8 jets to continue to fly.

SOURCE: https://www.theverge.com/2019/3/13/18264290/boeing-737-max-grounded-us-trump-ethiopian-airlines-crash

SOURCE: https://www.gist mania.com/talk/topic,380908.0.html

Anambra Chief Arrested For Causing Trouble In Lagos Hotel After Lodging Two Abuja Girls For S3x

An Igbo High Chief, Innocent Akachukwu Obiechefu, has been arrested in Lagos after he reportedly brought two ladies from Abuja, lodged them in a popular hotel, incurred debt of over N200,000 and refused to pay the bills in Bucknor Estate, Ejigbo Lagos. According to P.M.Express, Chief Obiechefu, who hails from Ebenato in Anambra State, was said to have lodged the ladies in the hotel under false pretence of getting jobs for them, and engaged them in sex romps without securing any job for them.

Though he lives in the same neighborhood, he lodged the ladies there without the knowledge of his wife and it got exposed after the bills piled up and he was unable to pay. Thus, the hotel manager was said to have seized his vehicle and he started making trouble in the hotel. Obiechefu was said to have also used his vehicle to damage many other vehicles in the hotel. He reportedly later rushed to his house, brought his double-barreled gun and shot sporadically to terrorize both the management and customers.

The police at Ejigbo Division led by CSP Olabisi Okuwobi, received information and rushed to the place to rescue Obiechefu, only to discover that he actually went there with a gun to cause mayhem at the hotel. The police officers then went into the hotel to restore peace. But he reportedly attacked the first officer, Inspector Mariam Sanusi, by tearing her uniform, and another officer, Lucky Isazemwinde, was injured by him before the police mobilized, arrested and detained him at the police station.

The police also recovered the gun and charged Obiechefu before the Ejigbo Magistrates Court for assault on the officers and using the gun to cause mayhem at the hotel. It was not yet confirmed if he had a licence for the recovered gun as the police was said to be investigating how he got the gun.

During proceedings at the Court, Obiechefu pleaded not guilty. The prosecutor, Inspector G. Simon, did not oppose his being granted bail hence the Presiding Magistrate, Mr. L.K.J. Layeni, granted him bail in sum of N300,000 with two sureties in like sum. He was remanded in prison custody pending when he will perfect his bail conditions. The matter was adjourned till 8th April 2019 for the mention.

It was gathered that the two ladies were stranded in the hotel and the management was making efforts to assist them to go back to Abuja where they came from before they were lodged in the hotel by Obiechefu.

SOURCE (abridged): nairametrics.com

FOCUS: These companies aren’t generating wealth for shareholders

By Emmanuel Abara Benson

There are more than 100 companies whose shares are listed on the Nigerian Stock Exchange (NSE). The whole essence for listing securities on any bourse is so they can be traded. This is very important because it is only when stocks are consistently bought and sold by the investing public that wealth is created for the companies and their shareholders.

However, in the case of some companies on the NSE, this hasn’t quite been the case. As a matter of fact, little or no wealth is being created for people that own shares in these companies. And the reason is simple – not all these securities are traded; at least not in the real sense of it.

Conversely, two things are bound to happen when companies’ listed securities experience little or no trading activities over a period of time. According to a well-known capital market source, trade inactivity leads to share price depreciation, which ultimately results in zero wealth being created for shareholders. Therefore, shareholders of NSE companies with low share prices need to be worried for their investment.

“First, we need to understand how a company’s value is created. When a stock’s price increases, it does so because there are more people willing to buy the stock (demand it) than those willing to sell it (supply it). This high demand in relation to supply creates value for the stock because buyers must compete against one another for it. And the more they want the stock for themselves, the more they are willing to pay for it. The opposite occurs when a stock price decreases, which simply results from low demand in relation to supply. Just as a high number of buyers crates value, a high number of sellers erodes value.”

On that note, welcome to Nairametrics’ company focus for this week. Today, we focus on a number of companies whose share prices have consistently been low on the NSE. Below are the companies with lowest share prices:

TANTALISERS PLC
Its share price has, over time, hovered around N0.20. This explains why its market capitalisation is valued at just N642,325,581.40, even as shares outstanding is 3,211,627,907. Financially, Tantalisers Plc hasn’t been performing very well. It consecutively ran at a loss between 2013 and 2016, until 2017 when it reported a profit after tax of N443.3m. In 2018, however, it returned to loss-making. This is because the company’s unaudited third quarter result for the year shows that it ran at a loss of N213.5m. This could be a pointer to possible overall loss for fiscal year ended December 31st, 2018.

Tantalisers Plc is the NSE’s only listed Fast Food Company. It has been in existence for more than 22 years, following its 1997 incorporation. Its business model entails cooking and selling of staple Nigerian and foreign dishes such as jollof/fried rice, pastries, Chinese cuisines, etc.

TRIPPLE GEE AND COMPANY PLC
Incorporated 1980, Tripple Gee and Company Plc is a Nigerian company whose business model entails printing of sensitive financial instruments and other security documents for financial institutions and government agencies. But investors are disinterested in the company’s stock; hence, the reason why the share price has remained at N0.77 for a long time. Market capitalisation is N381,114,580.00, while shares outstanding is 494,954,000.

In recent years, Tripple Gee and Company Plc has struggled to achieve profitability. It did, however, record a profit after tax of N12.7m for Q3 2018.

RAK UNITY PETROLEUM COMPANY PLC
It has a share price of N0.40, which has remained unchanged over a long period of time. Its market capitalisation stands at N22,649,813.20, and shares outstanding totals 56,624,533. Incorporated in 1982 and listed on the NSE in 1989, the company is specialised in merchandising of petroleum products such as premium motor spirit, automotive gas oil, kerosene, gas, etc.

Rak Unity Petroleum Company Plc generated a loss after tax of N2.6m in Q3 2018, which makes it one of the worst performing companies in its sector.

NEIMETH INTERNATIONAL PHARMACEUTICALS PLC
The company specialises in manufacturing and merchandising of pharmaceutical products for both humans and animals. It has been operating this same business model for 61 years since it was first established in Nigeria in 1957. It has, however, struggled to be profitable recently. Its share price is a mere N0.67. However, the company’s market capitalisation is N1,272,435,262.36. Also, shares outstanding totals 1,899,157,108.

MCNICHOLS PLC
It has a share price of N0.51, a market capitalisation of N166,617,000.00, and shares outstanding totalling 326,700.000. It is a relatively new player in the fast moving consumer goods sector, having just been incorporated in 2004. It was listed on the Nigerian Stock Exchange on December 18, 2009. It recorded a total revenue of N640.9m in Q3 2018, with a profit after tax of N27.8m.

JAPAUL OIL & MARITIME SERVICES PLC
This company’s shareholders already have a lot of reasons to regret their investment, and a low share price is one of them. This is because it has a share price of N0.23, a total shares outstanding of 6,262,701,716, and an overall market capitalisation of N1,440,421,394.68. This Nigerian company operates in the oil and gas sector, offering range of services such as maritime, logistics, drilling/installations, and dredging services. But despite its many potential sources of income, the company reported loss after tax of N5.5bn in Q3 2018. It was incorporated 1994 and listed on the Nigerian bourse in 2005.

OTHER NOTABLE MENTIONS
First Aluminium Nigeria Plc: This company’s share price is within the range of N0.29.
Evans Medical Plc: N0.50
DAAR Communications Plc: N0.40
Courteville Business Solutions Plc: N0.20
Afromedia Plc: N0.50
Academy Press Plc: N0.40

If you own shares in any of the above companies and others like them, you should know that you co-own companies that are no longer perceived to be very valuable by other investors. Already, the initial price at which you acquired the shareholding has depreciated. If you choose to continue holding on to the shares (in hopes of better days to come), you should also bear in mind that the chances of further depreciation abounds. However, a decision to sell would mean that you would be selling for far less than the amount you spent to acquire them in the first place.

It can be an uneasy decision to make. But no matter how you decide, be sure to consult your stockbroker

SOURCE: dailymail.co.uk

COUNTRIES AND CARRIERS AROUND THE GLOBE THAT HAVE GROUNDED THE 737 MAX 8

A number of countries have banned Boeing's 737 MAX 8 jet from their airspace in response to the Ethiopian Airlines crash that killed all 157 people on board, and several individual airlines have grounded their B-737 MAX 8 aircraft. The Nairobi-bound plane was the same type as the Indonesian Lion Air jet that crashed in October, killing 189 passengers and crew - and some officials have detected similarities between the two accidents.

COUNTRIES BANNING B-737 MAX PLANES:
Australia: Australia on Tuesday barred Boeing 737 MAX planes from its airspace. Fiji Airways is the only 737 MAX operator affected by the Australian ban, according to Australia's Civil Aviation Safety Authority, as Singapore-based SilkAir's planes were already covered by a ban imposed by the city-state.

Britain: Britain's aviation regulator on Tuesday banned Boeing 737 MAX aircraft from the country's airspace. The UK Civil Aviation Authority said that 'as precautionary measure' it had decided 'to stop any commercial passenger flights from any operator arriving, departing or overflying UK airspace'.

China: Beijing Monday ordered domestic airlines to suspend operation of the Boeing 737 MAX 8, citing the two crashes. Noting 'similarities' between the two incidents, China's Civil Aviation Administration said operation of the model would only resume after 'confirming the relevant measures to effectively ensure flight safety'. China is a hugely important market for the US aircraft company, accounting for about one-fifth of worldwide deliveries of Boeing 737 MAX models.

Indonesia: Indonesia said it was grounding its 11 jets of the 737 MAX 8 type. Inspections of the aircraft would start Tuesday and the planes would remain grounded until they were cleared by safety regulators, Director General of Air Transport Polana Pramesti told reporters.

Malaysia: Malaysia on Tuesday banned Boeing 737 MAX 8 aircraft from its airspace. No Malaysian carriers currently operate the model, the aviation authority said.

Mongolia: The Mongolian Civil Aviation Authority said on Facebook it had ordered the state carrier MIAT Mongolian Airlines to ground the sole Boeing 737 MAX 8 aircraft in its fleet.

Oman: Oman on Tuesday suspended takeoffs and landings by Boeing 737 MAX planes at its airports 'until further notice'.

Singapore: Singapore's aviation regulator Tuesday completely banned the use of Boeing 737 MAX aircraft in the country's airspace. The Civil Aviation Authority of Singapore (CAAS) said it was 'temporarily suspending operation of all variants of the Boeing 737 MAX aircraft into and out of Singapore' in light of the two recent accidents.

AIRLINES GROUNDING B-737 MAX JETS
Aerolineas Argentinas: Argentina's flagship carrier said late Monday that it had suspended the operation of its five 737 MAX 8s pending the result of investigations into the crash of the Ethiopian Airlines plane. Earlier its pilots had refused to fly the jet.

Aeromexico: Aeromexico, which has six 737 MAX 8s in its fleet, announced it was grounding the aircraft.

Cayman Airways: Cayman Airways CEO Fabian Whorms said it would suspend flights for its two 737 MAX 8 planes 'until more information is received'.

Comair: South African airline Comair said it had 'decided to remove its 737 MAX from its flight schedule'.

Eastar Jet: Eastar Jet, the only South Korean airline owning B737-8 aircraft, was told by the country's government to ground them.

Ethiopian Airlines: Ethiopian Airlines said Monday it had grounded its Boeing 737 MAX 8 fleet 'until further notice'. 'Although we don't yet know the cause of the accident, we have to decide to ground the particular fleet as an extra safety precaution,' said the state-owned carrier, Africa's largest.

Gol Airlines: Brazil's Gol Airlines said it was temporarily suspending its commercial operations with the plane.

Icelandair: Icelandair on Tuesday suspended its Boeing 737 MAX 8 planes.

Norwegian: Low-cost airline Norwegian Air Shuttle said on Tuesday it would suspend flights of its Boeing 737 MAX aircraft 'until advised otherwise by the relevant aviation authorities'.

SOURCE: simpleflying.com

Is The Boeing 737 MAX Safe To Fly?
By Jay - March 11, 2019

In 2019, it’s unthinkable that new planes can just fall out of the sky Yet, we’ve seen two cases where this has happened within a few months of each other. While the investigation is ongoing and similarities remain, the real question on many traveler’s minds are: “Is the 737 MAX safe to fly?” To answer that, I want to start with a little story from my experience on a 737 MAX 8.

In February, I took two flights on the 737 MAX 8 operated by Fiji Airways between Fiji and Samoa. It was a normal flight by all standards, but I was nervous about the prospect of getting on a 737 MAX 8 after Lion Air’s crash. The outbound flight was fantastic and I lost any concern I had with flying a 737 MAX aircraft.

That was, until my return flight. We departed Apia bound for Nadi, Fiji at 5 pm. We had a normal takeoff. After a few minutes, when we were at about 4-5,000 feet, something interesting happened. We leveled off a bit sharply and had a nose dive with engines at almost idle. It was not a very significant nosedive, maybe a couple hundred feet at most, but enough to get a frequent flier and aviation geek a little rattled. In those few moments, the only thing running through my head was “I’m going to die alone.” I was relieved to the point of almost crying when we continued our climb and our throttle increased.

Neither the pilots nor cabin crew offered any explanation for what happened. I assumed it was a minor glitch or something. I tried to convince myself it was light turbulence. It may sound like I’m overreacting to the situation and flying is a stressful event that can bring out more emotions than we expect, but overall, it led me to question whether or not I should have been on that aircraft.

Undoubtedly, there are plenty of people who are concerned about upcoming flights on 737 MAX aircraft. In this article, I’m looking to provide the information you need to be able to make a decision as to whether or not to remain on your 737 MAX aircraft or search for other options.

THE CRASHES
Simple Flying has reported extensively about the fatal Lion Air and Ethiopian Airlines flights, so I’m not going to go into much detail. Basically, very very new 737 Max 8 planes ended up scattered in pieces shortly after takeoff. Both exhibited some distress in terms of fluctuations in vertical speed and both flights had no survivors.

THE AIRLINES
Lion Air is a massive Indonesian low-cost carrier. With plenty of subsidiaries, Lion Air is a dominant force in the Indonesian domestic market and Southeast Asian air market as a whole. Catering to price-sensitive leisure travelers, Lion Air operates mainly to tourist destinations and aims to fly efficiently and cheaply.

On the other hand, Ethiopian Airlines is also a gigantic African airline. They are a dominant force and their growth is tremendous. They are well known in the aviation world and fly to various destinations- including the U.S.A. What is most striking about this incident is that Ethiopian Airlines has an excellent safety record. The plane in question had been flying normally and passed all of Ethiopian Airlines’ maintenance checks.

While investigations are not complete, the comparison of both of these incidents leads to questions about the aircraft itself.

THE AIRCRAFT
Boeing’s 737 is undoubtedly a widely successful aircraft. Since its early days to modern times, they’ve been loved by airlines and passengers alike as a short or medium-haul workhorse. As some airlines expand on long and thin routes, the 737 became ideal for their operations- especially the 737 MAX.

In creating this new aircraft, Boeing introduced a new anti-stall system that was, apparently, not well documented or advertised to trainers and pilots. This led to an outcry from some pilots due to the lack of notification. While Boeing did ultimately issue a bulletin, it would have been nicer to see them advertise the system in the first place.

THE STATISTICS
Air travel is the safest form of transportation. The aviation industry has come a long way since turboprops and multi-day transcontinental routes. Incidents do happen and the aviation world studies them carefully and documents them for improvements. This makes every year a safer year for flying on an aircraft.

Every year, older and older aircraft are retired in favor of newer aircraft with better fuel efficiency and safety features. Maintenance procedures are improved and airlines are investing in safe aircraft. The combination of these factors makes crashes incredibly rare. This is especially true for newer aircraft.

Getting on a plane these days is safer than getting in a car. The odds of dying in a car accident are about 1 in 100. Odds of dying on a plane is about 1 in 200,000. While those statistics vary based on the type of aircraft you get on, maintenance schedule of the aircraft in question, etc. etc., the bottom line is flying is incredibly safe.

IS THE 737 MAX SAFE?
The short answer is we don’t know. We’re still waiting on the results of this investigation, but here is what I can leave you with.
If you are anxious about flying, stay away from the 737 MAX. If you’re an anxious traveler, you can go with the timeless mantra: "it is better to be safe than sorry". Flying already can cause some stress for passengers and you don’t want even more stress because you’re concerned about a flaw with the plane that might cause it to crash. Purely for your mental sanity, I would recommend that.

If you’re examining the situation based on the data and statistics, the odds seem pretty good that you could get on a 737 MAX flight and arrive safely at your destination. There are about 350 of them in service and only 2 have been involved in a hull loss. American Airlines, United Airlines, and Southwest Airlines all fly the 737 MAX aircraft on a daily basis. Thankfully, there have been no reported hull losses with the 737 MAX on any of their aircraft. In addition, no major news or pilot statements have been released indicating that any of the aforementioned airlines had an in-flight incident due to issues with the new anti-stall system that Boeing introduced on the 737 MAX.

China has grounded the 737 MAX, but as of now, no other major civil aviation body has issued a bulletin, notice, or complete grounding of the 737 MAX. Ethiopian Airlines and Cayman Airways have also grounded their 737 MAX aircraft.

Ultimately, it is up to you to decide whether or not to avoid the 737 MAX. We’re still waiting on a final report, but we’ll keep you updated with all the developments of the 737 MAX here at Simple Flying.

A. MARKET INDEX
All share index = - 0.16%
Capitalization = - 0.16%
Year-to-date = + 2.20%

B. MARKET VOLUME LEADERS
ZENITHBANK= 45.37 m units
GUARANTY = 23.08 m
FIDELITYBK = 20.17 m

C. MARKET VALUE LEADERS
ZENITHBANK = N1.11 bn
GUARANTY = N872.94 m
DANGCEM = N171.28

D. MARKET ACTIVITY
Total volume = 208.60m units
Total value = N2.78 bn
Total deals = 3,246 deals

E. SECTORAL ACTIVITY
Financial Services = 80.00% of total volume traded.
Oil and gas = 7.00% of total volume traded.
Conglomerates = 6.72% of total volume traded.

F. MARKET BREADTH
Gainers = 8 stocks
Decliners = 20 stocks
Breadth = 0.40x (Negative).

G. TOP GAINERS/ DECLINERS
CHIPLC = + 7.69%, closed @ N0.28
JAIZBANK = + 5.00%, closed @ N0.63
ACCESS = + 1.67%, closed @ N6.10

MCNICHOLS = - 10.00%, closed @ N0.54
ETRANZACT = - 9.90%, closed @ N2.64
CCNN = - 5.00%, closed @ N19.00.

H. OUTLOOK FOR THE WEEK
-- More earnings reports expected.
-- 2019 dividend season imminent.
-- State Assembly & Governorship elections of 09March 2019 may have some impact on the market.
-- Possible market rally after the elections, depending on conduct/outcome of the elections and company results/dividends.

SOURCE (abridged): https://nairametrics.com/2019/03/06/how-to-apply-for-canadian-permanent-residency-from-nigeria-on-your-own/

LIVE AND WORK IN CANADA
Some countries, like Canada, have policies that allow skilled people earn permits to live and work in Canada.

If you are educated and looking for a legal way to move yourself or your family to Canada for a chance at a new path, these are details on how to go about it. Of course, this article cannot cover every aspect of immigrating to Canada. However, if you want to know more about the Express Entry process to move to Canada, this is for you.

There are many agents who charge a hefty fee to help you through the process. However, you can complete it on your own from beginning to end. You don’t have to, but you can. So, here you go!

Step 1a – Take the quiz to find out if you are eligible
Cost: FREE
The quiz is simple and you can do it by yourself here. If you have not done a language test before, give yourself a hypothetical test score and fill out your other information. I recommend you give yourself a test score lower than what you think you may get so you can gauge the amount of room you have to play around with.

Step 1b – Find out what your work NOC is
This is important because you can only claim work history in one NOC, which means if you’ve jumped around from job description to job description, you will need to choose the one that you have the longest number of consistent years of work. It is okay if you’ve changed jobs, but as long as your jobs have all been in one NOC, they count. Find your NOC here.

Step 2 – Register for the language test – IELTS General, etc
Cost: USD208/CAD275/N75,000
Time Required: 2 to 3 months
If you are eligible based on the quiz above, next step is to register for the language test. Everyone applying for Canadian PR has to take a language test to show proficiency in either French or English. You get bonus points if you can prove both! I recommend you give yourself a two to three-month window to prepare for the language test.

For most people, this is the only thing you have in your control. Your age isn’t going to change, your work history won’t change much and you may need a few years to get an additional degree. So, even though you have been speaking English all your life, IELTS General and others are standardised tests (yuck) and you have to know how they want you to answer the questions they ask. The most common test for English Language is IELTS General (you cannot use IELTS Academic for immigration purposes) but it isn’t the only one. See the approved language tests for Canadian PR here. This is the official site to register for IELTS with British Council.

Here are practice tests to help you prepare for the IELTS General test. Do not take these practice guides for granted. They go a long way in ensuring you ace the test.

Step 3 – Prepare your documents for WES evaluation
Cost: from USD230/CAD305/N83,000.
Time Required: 2 months.
Use the two or three months of IELTS preparation to also prepare your degree evaluation, so you can save time. Everyone who goes to school outside of Canada must go through this process. The Canadian IRCC has a list of certified organisations that can verify your degree and equate it with a Canadian one. The list of organisations can be found here. The most common on this side of the pond is WES. Basically, they need to say that your degree is equivalent to so-so-and-so degree in Canada.

You can decide to evaluate your most recent degree or all your degrees. The IRCC only requires your most recent degree (your highest degree), however, you need to figure out what works best for you. It is important to note that if you evaluate multiple degrees under one WES profile, it costs the same as evaluating only one degree. This is the process:

Register an account with WES here.
Fill out a profile and provide information about your degree(s). Please, make sure every detail is correct and you cross-check a couple of times.
Pay the evaluation fee of CAD220 and the courier fee of CAD85 (for them to ship your evaluation back to you). I recommend you pay the CAD85 courier fee instead of the CAD7 regular postage fee so that when your evaluation is returned, it is returned speedily and securely and doesn’t get stuck in the local post system. As soon as you pay, you will receive a unique WES Number.

Note: When you put in all your degree details, the WES system will automatically pull out the documents you are required to send to them for verification. For most countries, only transcripts are required. Unfortunately, those with Nigerian degrees are required to provide a whole lot more due to a number of people sending in falsified documents. This is where you need to decide whether to use only your higher degree if you have one from another country. List of requirements for Nigerian degrees:
Degree Certificate
Academic Transcripts
Final Secondary Examination Results
WAEC/NECO Scratch Card

Requirements were the same for everyone till late 2018 when they couldn’t take the number of fraudulent documents coming their way from Nigeria anymore. Too bad!

Apply for your transcripts and documents. If your school has a cut-throat process, all the more reason to ensure you have enough time to go through this process. Also, remember to factor in the cost of requesting transcripts.
Send your required documents to WES. Make sure you follow all the instructions. All transcripts and documents must be sealed and signed or stamped across the seal fold of the envelope and every envelope must have your WES number on it. Courier shipping via DHL from Lagos to the WES Toronto office costs about $65 or CAD86 or N23,000.
Wait for WES to receive your documents and complete your verification. It takes 20 working days from when they receive all your required document for them to send you an evaluation report. This is the report that you need for your Canadian PR application.

Step 4 – Take your IELTS Test & Get Results
Time Required: 13 Days.
Your speaking test will be on a different date from writing, reading and listening tests. You will receive an email a few weeks to your test date with details of your speaking test (usually the speaking test is same week as your main test date). All other three tests will be on the day you chose when you registered. Give the test your best shot, keep calm and pick up your results two weeks later. You will be able to pick up your results 13 days after your main test date.

Step 5 – Create an Online Express Entry Profile.
Now that you have your WES evaluation report and your language test results, you are ready to create an Express Entry profile. Real quick, use this tool to find out what your exact CRS Score will be. This time, you have the actual information and you can tell what your exact score will be. You don’t know what the cut off score will be but you can check what the cut-off for the last draw was (the week or two weeks before you check) here. That way, you have an idea whether you stand a high chance in the pool or not.

This profile will close within 60 days of opening, that is if you do not submit, so try to complete it as soon as you can. You will be asked personal information, work history, test scores, degree details, etc. All these details will add up to give you a Comprehensive Ranking System (CRS) Score. Make sure you are truthful and consistent. As soon as you complete and cross-check your Express Entry profile, go ahead and submit it.

You have officially joined the Express Entry Pool.

Step 6 – Wait for an Invitation to Apply (ITA).
Time Required: 1 Day to Indefinite…
Every two weeks, a draw is made from the pool of submitted Express Entry profiles. This draw is done to offer ITAs to candidates. An ITA basically says…’you can now begin the official application process for PR.’ The exact cut-off score is determined by the number of selections the committee plans to choose from that draw. For example, if they need 3,500 selections from that draw, they pick the highest 3,500 candidates in the pool on that date and the 3500th person’s score becomes the cut-off score. If there is a tie for the 3500th person, they use factors like date and time of submission to break the tie. Just as a guideline, the cut-off scores for January and February 2019 were as follows: 449 (Jan 9), 443 (Jan 23) and 438 (Jan 30). See the full list of cut-off scores here.

If you are one of the top candidates, you can receive an ITA in the next draw from when you submit your profile. Technically, if you submit your profile today and the draw is tomorrow, you can get an ITA in one day. However, if your score falls short, you can stay in the pull and keep doing other things to improve your score. See a detailed explanation on ways to improve your score while you’re in the Express Entry pool. After 12 months, if you don’t get selected from the pool, it will expire and you will have to create a new one.

Also, while waiting for an ITA, you can register in the Job Bank and start looking for jobs.

Step 7 – Apply for Canadian Permanent Residency
Cost: USD785/CAD1,040/N282,600 per adult applicant and USD113/CAD150/N54,000 per dependent children.
Time Required: 6 months.
Now that you have been invited to apply, you will need to prepare your application and submit all your documents. It is important to note that your fee of CAD1,040 is split into CAD550 application fee and CAD490 right to permanent residence fee. If you do not successfully get PR, the CAD490 will be refunded to you. You only have 60 days to complete this application!
Documents Required:

Application Fee (see above)
Test Results
Academic Verification Report
Digital Photographs
Medical Examination: Every country has an approved list of panel physicians who can provide a medical examination. In Nigeria, there are three in Lagos and one in Abuja and the costs may vary slightly. See here to find their addresses and book an appointment.
Police Certificates: If you have lived in a country for more than 6 months in a row, within the last 10 years, you have to include police reports from each of those countries (including your home country, where you currently live). The cost of obtaining a police certificate will differ based on where you live and where you are requesting one from. See how to get a police certificate in each country.
Passport Biodata Page
Reference or Experience Work Letter: your former and current employers listed on your Express Entry Profile must all provide letters to prove your work history with them.
Proof of Funds: you must provide a letter from your bank vouching for the availability of funds required for relocation. These are the amount required for relocation:
1 Family Member (you alone): CAD12,669 or N3.46 million.
2 Family Members: CAD15,772 or N4.31 million.
3 Family Members: CAD19,390 or N5.30 million.
4 Family Members: CAD23,542 or N6.43 million.
5 Family Members: CAD26,701 or N7.29 million.
6 Family Members: CAD30,114 or N8.22 million.
7 Family Members: CAD33,528 or N9.15 million.
For each additional family member: CAD3,414 or N932,000.
Other Documents: Depending on whether you have children, you are divorced, married, and so on, there is a host of other documents required including name change certificate, birth certificate of child(ren), marriage certificate, etc. Find the full details here.

Once you have all your complete documents, you will be able to fill out your application on the portal and upload scanned copies of all your documents. Make sure you follow the guidelines for clarity, size and resolution of all documents. You will also be able to make your payment.


Step 8 – Bio-metrics.
At some point, you may be called to submit your bio metrics at a local embassy or VFS.

Step 9 – Wait and live your life!
According to the IRCC, 80% of all applicants receive a response within 6 months. Just spend 6 months worrying. Just go about your business. You can log into your profile from time to time to check what stage your application has reached. For some people, it comes in 2 months and for others, it takes 6! It doesn’t matter, just keep living your life.

Step 9 – Receive a PPR – Passport Request email – Ready for Visa.
Once you get this letter, you can send in your passports. Your PR approval will also come with a deadline when you have to enter into Canada or else your PR will be invalidated. This is usually between 6 months to 1 year from the approval. You are ready to go!

Funmi Oyatogun is a travel expert/consultant with TVP Adventure and also the owner/publisher of funmioyatogun.com. She is on Instagram @funmioyatogun.

Lagos State Police Command on Thursday, February 28, 2019, apprehended one Christiana Onuchukwu for stealing and keeping in her custody, two children declared missing in 2014.

Luck ran out on the said Christiana Onuchukwu when one of the abducted children named Ikimot,12, came to Denton Police Station and reported that she was taken away from her parents some years ago and handed over to a woman she now calls mum. She mentioned her abductor's address and asked the police to reunite her with her parents. Based on her complaint, the DPO in charge of Denton Police Station, CSP Saheed Quadri, led a team of detectives to No.1 Ogati Street, Fadeyi, Lagos, where the suspect was apprehended.

When the suspect and her victim were debriefed, the child stated that she was seven years old when she started living with the suspect and that her present age is 12. She mentioned another little boy called Okashetu Musa as another victim of the suspect. Thus, the DPO dispatched a team of detectives to rescue the boy who was abducted when he was six but now eleven years old. In his own account, the boy who could still speak Hausa said he once lived in the Ebute Meta area of the state with his mother.

The leader of the Hausa community in Ebute Meta was invited to the station to help link the child to his parents. The leader, after consultation with his subjects, claimed that the mother of the boy is a blind woman who had relocated to Kastina State, having lost hope on the possibility of finding her child.

According to the Lagos State Police Public Relations Officer, Chike Oti, the children have been reunited with their parents while the suspect was on Tuesday, March 5th, 2019, charged to Ebute Meta Magistrate's Court 5 with conspiracy, abduction and child stealing.

The CP has directed the Divisional Police Officer to intensify efforts in ensuring that all the persons connected with the crime are arrested and prosecuted.

Published at: 07:56 AM, 6/03/2019

SOURCE: https://www.gist mania.com/talk/topic,379262.0.html

Quite useful.

Thanks!

SOURCE: skysports.com

Serie C team Pro Piacenza lose 20-0 and are expelled from league after starting match with 7 players on Sunday 17 February

By Tommaso Fiore

Italian Football Association (FIGC) president Gabriele Gravina has labelled Cuneo's 20-0 drubbing of Pro Piacenza in Serie C as a "farce" and an "insult to sport and its founding principles". Pro Piacenza have now been thrown out of Italy's 3rd division as they forfeited 3 games out of a maximum of 4 allowed, due to their first-team players being on strike over missing payments.

They could only field 8 players on Sunday - 7 academy teenagers and one club director - and played with 7 for an hour due to a forgotten ID. One of the academy youngsters, 18-year-old Nicola Cirigliano, was even named as the team's manager in the official teamsheet, as club staff and managers also joined in the protest. However, FIGC rules state that a team is allowed to play should they provide at least 6 players in their starting line-up and so Pro Piacenza were legally entitled to start the game.

Cuneo found themselves 13-0 up inside 40 minutes and showed no signs of mercy as their opponents looked evidently not up for the challenge.

The financial crisis at Pro Piacenza is not a new scenario in the Italian lower leagues. Earlier this season, fellow Serie C side Matera were expelled from the league when they forfeited their 4th game. The Italian sporting judge deliberated whether further action would be needed, and announced on Monday evening Pro Piacenza would be expelled from the division.

"What happened in Cuneo is an insult to sport and to its founding principles," Gravina said. "In this surreal situation the FIGC had the duty to respect all the rules and so we did.

Serie C president Fracesco Ghirelli told Sky in Italy that he feels ashamed for the embarrassment the Pro Piacenza players suffered.

"Our responsibility is to safeguard the passion of the supporters, honest entrepreneurs and the credibility of our leagues; what we witnessed [on Sunday], regretfully, will be the last farce."

Serie C President Francesco Ghirelli told Sky in Italy he feels embarrassed for the young Pro Piacenza players, but insisted there was nothing he or Gravina could have done.

"We are talking about a black page in football that regrettably, we've been carrying around for a while. We want to say sorry to everyone, especially to the fans. We had to stick to the rulebook [teams are allowed to play with a minimum of 6 players], but today the sporting fair play rules have been violated in a shameless manner, a line has been crossed. [Italian] Football has some problems but the parents have faults of their own - why put your kids through such a disgrace? We could have saved such an embarrassment to these kids, and as a parent, I feel terribly sorry."

Cuneo captain Fabiano Santacroce, former Serie A player at Napoli and Parma, expressed his disgust in a social media post he uploaded on his personal Facebook profile during half time.

"And then there are Sundays where you end up like this. 13-0 up in the first half against a team that plays with six 17-year-old kids and a club director as a centre-half," he said. I'm lost for words, I can only feel ashamed for whoever made all of this possible. This is not the kind of football I dreamed of as a child."

Naira still strong despite election odds, says ABCON

The naira has in over 18 months remained stable at both the official and parallel markets, despite several odds facing it ahead of the 2019 general elections, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, has said.

Speaking recently to financial journalists in Lagos, the ABCON boss commended the Central Bank of Nigeria (CBN) financial sector reforms and contributions of Bureau de Change (BDC) operators to the current exchange rate stability, as against common practice of currency devaluations and depreciations across the world at election times. The naira exchanges at N306/$ in the official market and N358/$ in the parallel market despite the election fears.

Gwadabe said that absence of foreign exchange spikes and volatility before and during the 2019 election is a major achievement by CBN and the Federal Government. He said: “The dexterity of the government policies in ensuring that naira remained stable in an election year is commendable. Election years, as witnessed during the 2015 general elections, are marred by exchange rate volatility and spikes in the market.”

He disclosed that financial pundits had in early 2016, speculated that the naira would depreciate to as low as N1000/$. The election period of 2015, he added, witnessed over $100 billion capital flight outside the country. Activities of currency hoarders, speculators and rent seekers reached its peak in 2015.

He disclosed that ironically, the trend in foreign exchange market during this year’s election shows hope for the economy, sustained exchange rate stability, adequate dollar liquidity, increasing foreign capital inflows and most importantly, a unified and convergent exchange rate of BDCs and the parallel market. These feats, he said, are commendable by all standards.

On deepening capacity/skills of industry operators, Gwadabe appealed to CBN to issue Letter of Consent to ABCON proposed training institute. This, he added, will boost current ABCON management’s commitment to capacity building for members, to stimulate competence in the sector and make room for better foreign exchange management.

Continuing, Gwadabe also listed factors that led to current successes in the foreign exchange market. He said: “First, I want to congratulate the leadership of CBN for well coordinated, proactive exchange rate management strategies, which include creation of several foreign exchange windows to deepen liquidity and price discovery, restriction of foreign exchange on 42 items that can be produced locally, self-sufficiency in rice production and continuous partnerships between the apex bank and BDCs, all led to the current exchange rate stability enjoyed in the country.”

According to Gwadabe, the contribution of security agents in effective surveillance of Nigeria’s borders/airports to checkmate illegal foreign currency evacuation have in no small measure strengthened exchange rate and promoted economic growth. He also praised BDC operators under ABCON leadership for staying in the business despite lower margins and operational risks they face on daily basis.

The ABCON boss said BDCs have remained resolute in ensuring sustainable and stable exchange rate, price discovery and uniformity in market pricing for the dollar against the naira. He said the current 1% transaction margin that operators take is not sufficient for BDCs’ sustained operation, and totally falls below global standard of 10%. He said BDCs under ABCON leadership have demonstrated patriotism in the business by staying and sustaining it despite several challenges facing the sector.

SOURCE (abridged): https://www.sunnewsonline.com/naira-still-strong-despite-election-odds-says-abcon/

SOURCE (abridged): proshareng.com

Oil Price Rises Above $66 on OPEC Deal, US Sanctions

Crude oil rose for a 5th day yesterday, on track for its strongest first quarter in 8 years, thanks to a growing belief among investors that the Organisation of Petroleum Exporting Countries’ (OPEC) supply cuts will prevent build-up in unused fuel, though concerns over China’s economy tempered gains. This is a boost to efforts of the Nigerian Government to fund the 2019 budget, which is predicated on oil price of $60 per barrel.

USA sanctions against Iran and Venezuela have also helped to boost prices of crude oil to their highest levels since November 2018. While the US West Texas Intermediate (WTI) rose by 0.8% to hit $56.13 before dropping to $55.97, the global benchmark crude, Brent rose by 0.6% to $66.65 before it settled at $66.44.

For both benchmarks, these were their highest levels since November 20, 2018. Crude oil has risen nearly 25% so far this year and is on course for its strongest first-quarter performance since 2011, thanks largely to commitment by OPEC and allies to cut output. Reuters reported that refiners around the world have to pay more to secure supplies of medium or heavy, sour crudes produced by Iran and Venezuela, both of which are under United States sanctions.

US Treasury Department had announced sanctions that effectively halted purchases of oil from Venezuela, as part of an effort to push out the country’s President, Nicolás Maduro, in favour of his rival, Juan Guaidó.

About 40% of Venezuela’s oil is sold to the USA, which claims that Maduro and his inner circle diverted billions of dollars in Venezuela’s national oil company, PDVSA’s profits to their personal accounts and to pay off military officers said to be propping up Maduro’s government.

SOURCE: Proshareng.com

Federal High Court, Warri, bars Federal Road Safety Commission from States & Local Government Roads

The Federal High Court, Warri has delivered Judgment in the case of Darlington Ugo Ehirim v. Federal Road Safety Commission Suit No. FHC/W/CS/90/2017. The Plaintiff in an affidavit in support of his originating summons stated that he was stopped by FRSC officials while driving along Ajamimogha Road, Warri on his way to court. Plaintiff had challenged the authority of the FRSC officials to be creating a long queue early in the morning while checking vehicle particulars. Plaintiff further stated that the FRSC officials, out of annoyance told him to park, which he obeyed.

They seized his vehicle particulars and charged him to court on a purported charge of not wearing seat belt. The charge against the plaintiff was withdrawn upon the intervention of Kunle Edun, the then Vice Chairman of NBA, Warri (now the National Publicity Secretary of the Nigerian Bar Association). Mr. Kunle Edun, acting as the Plaintiff's counsel and Chairman NBA Warri Human Right Committee subsequently filed an action against the FRSC at the Federal High Court, Warri, seeking multiple issues for resolution by the learned high court Justice in line provisions enshrined in the 1999 constitution, as amended.

The trial Judge upon considering depositions from counsels to the plaintiff, Darlington Ugo Ehirim, and the defendant, FRSC, granted reliefs in judgement to the parties inter alia:

1) A declaration that the stoppage of the Plaintiff's vehicle Reg. No. KJA 502 and seizure of his driver's licence by the Defendant on 15th of June, 2017 along the Ajamimogha Road, by Herismor House, Warri (not being a federal trunk road) is unlawful and a violation of Plaintiff's right to freedom of movement as guaranteed by provisions of section 41 of the Constitution of the Federal Republic of Nigeria, 1999, as amended.

2) An order of injunction restraining the Defendant by itself and/or through its privies, agents, officials, subordinates or under any other guise from further harassing, arresting, detaining and/or prosecute the Plaintiff or any motorist in respect of anything done in connection with vehicular traffic and/or the use of State's and Local Government roads.

3) The sum of N10,000,000 (Ten Million Naira) as exemplary and general damages.

The trial court agreed with all the issues raised by Kunle Edun, the Plaintiff's counsel and accordingly granted all the reliefs sought. The court also awarded cost of N200,000 against the Defendant.

HONOURABLE PATRICK OBAHIAGBON REACTS TO ELECTION POSTPONEMENT

''I am maniacally bewildered, overwhelmed and flabbergasted at the paraplegic crinkum-crankum that has characterised the latest news about the elections, culminating in an odoriferous saga cum gargantuan gaga! The jiggery pokery of homo sapiens flaunting their incompetence as INEC officials instead of achievements stemming from months of preparation and years of hard work is a veritable bugaboo that must be pooh-poohed by all compos mentis homo sapiens!

I said to my self: What an anathematous disdain of the citizenry! What a deprecable descent from the sublime to the ridiculous! Who will curb the odoriferous excesses of this machiavellian and mephistophelean cabal in the country?

With this state of affairs, i dare say that the future of our dear nation is swimming in a pestilential aqua with a disastrious terminus ad quem inherently laden with avoidable cataracts, ice bergs and oxbow lakes. It is sardonic and lugubrious and SHOULD STOP!!!!!"

SOURCE: www. gist mania.com/talk/topic,377953.0.html

My interpretation: "It's really bad that the elections had to be postponed".

Link to follow up the incident:

https://www.nairaland.com/5029596/customs-reacts-shooting-civilian-ijebu-ode

SOURCE (abridged): https://nairametrics.com/2019/02/16/inecs-shift-of-the-2019-elections-may-have-cost-nigerians-over-n500-billion/amp/

INEC’s shift of 2019 Presidential and National Assembly elections may have cost Nigerians over N500 billion

As Nigerians continue to react to INEC’s rescheduling of the 2019 elections, Analysts at Nairametrics have weighed the cost vs benefit implications of the postponement on Nigeria's economy.

Against backdrop of the general election, most private organizations gave consideration for their staff to work a half day. Some state-owned organizations' staff were given a complete day off, and public schools were closed. These measures were to enable Nigerians prepare for one of the most highly anticipated general elections in the nation’s history. An estimate of the losses was calculated using GDP figures. In addition, sectors that would be losers from the action were highlighted, as well as the few gainers.

The National Bureau of Statistics recently released gross domestic product (GDP) report for year 2018, and it shows that the Nigerian economy in real terms grew at 1.93%. During the last quarter of 2018, aggregate nominal GDP (economic output without inflation adjustment) stood at ₦35.23 trillion, which is higher than ₦31.28 trillion recorded in Q4-2017, representing 12.65% nominal growth. For 2018, annual nominal GDP was ₦127.762 trillion representing nominal growth 12.36% vs ₦113.711 trillion in 2017.

For annual nominal GDP, the ₦127.762 trillion is ₦10.6 trillion per month, ₦2.66 trillion per week and ₦380 billion per day. Similarly, Q4-2018 GDP was ₦35 trillion i.e. about ₦11.6 trillion per month, ₦2.9 trillion per week and ₦414 billion per day. Hence, since many organizations had a half day on Friday 15 February preceding the postponed elections, the losses could amount to over ₦500 billion.

(A). LOSERS

The informal sector would be the biggest loser due to the postponement. A large number of Nigerians earn income on daily basis. Most businesses would have canceled orders required for their businesses due to the general election. Unfortunately, the election has been postponed, and Nigerians in this category would be counting their losses.

1. Transporters
The curfew on movement would have led to many individuals shifting or cancelling their trips the day before. The postponement thus serves as a double whammy to Transporters, as they would lose a huge chunk of revenue on Saturday. Despite announcement of the postponement in the early hours of Saturday 16th February, many individuals would opt to stay home as they monitor the security situation.

2. Event Planners
The postponement will lead to shifting of events scheduled for the new election dates. This is in addition to losses incurred on Saturday 16th February. Some would have earlier shifted events ahead to the newly scheduled dates of the general elections, and by extension, such plans will be truncated and this will cost many some fortunes. Also, events earlier scheduled for the coming weeks may be postponed or cancelled, as individuals decide to monitor the situation.

(B). GAINERS

1. Service providers to INEC
While most Nigerians are understandably upset by the postponement, some service providers to the Independent National Electoral Commission (INEC) may smile to the bank. The commission will have no choice but to mobilize them again for their services next week and next month.

2. Key hotels
While many hotels would record losses from the postponement, key hotels located in Abuja, the seat of power, may maintain increased patronage. The postponement will lead to realignment in the country’s political space.

(C). EFFECT ON THE FINANCIAL MARKETS
The postponement could have negative effects on the financial market. The equities market, which has rallied in the last 11 days, could take a dip. Foreign investors (a key driver of the market), may decide to slow down on their investments, as they watch things unfold. For the bond segment, it could also lead to drop in bond yields, as foreign investors may exit In the light of heightened political uncertainty.

Despite these attendant costs, a succesful, free and fair election is still expected next week (or whenever the election takes place).

The cost of not having this election far outweighs the cost of postponement.