Connect with us
Trading activities on the Nigerian Exchange Ltd. (NGX) continued to decline as all indices fell by 0.21 per cent amid sustained sell pressure on some large and medium stocks.
Specifically, the market capitalisation shed N50 billion or 0.21 per cent, to close at N23.827 trillion as against N23,877 trillion recorded on Monday.
Also, the All Share Index (ASI) declined by 93.35 basis points or 0.21 per cent, to close at 43,745.73 from N43,839.08 posted at the previous session.
Consequently, the year-to-date (YTD) return dipped to 2.41 per cent,
Market breadth closed negative with 18 stocks on the laggards’s table, while 14 stocks gained.
NAHCO led the losers’ chart in percentage terms by 9.35 per cent to close at N6.20 per share.
Regency Alliance insurance followed with 4.35 per cent to close at 24k, while UPDC shed 4.21 per cent to close at 99k per share.
AIICO lost 3.64 per cent to close at 57k while LASACO shed 3.57 per cent to close at 87k per share.
Conversely, Julius Berger dominated the gainers’ chart in percentage terms with 9.46 per cent to close at N23.45 per share.
Seplat followed with 8.33 per cent to close at N1, 100, while Chams rose by eight per cent to close at 23k per share.
Linkage Assurance garnered 7.69 per cent to close at 36k, while UACN appreciated by 6.15 per cent to close at N8.40 per share.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 15.68 per cent
A total of 172.87 million shares valued at N4.01 billion were exchanged in 4,110 deals.
NewsSourceCredit: NAN
The National Drug Law Enforcement Agency (NDLEA) has arrested one Abubakar Ibrahim, the village head of Gidan Abba, Bodinga Local Government Area of Sokoto, with 10 others over 991,320 pills of pharmaceutical opioids.
A statement by the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi, on Sunday in Abuja, said 1,251kgs of cannabis and Khat were recovered.
Babafemi said that the suspect, Ibrahim, 38, was arrested in Bodinga town with 3kgs of cannabis sativa and 4,000 tablets of exol-5.
He said that NDLEA operatives attached to Skyway Aviation Handling Company (SAHCO) import shed of Murtala Muhammed International Airport, (MMIA) Ikeja Lagos, also intercepted 15 cartons.
According to Babafemi, the cartons which were intercepted on Oct. 26, contained 802,000 pills of Tramadol, imported from Dubai, UAE and Karachi, Pakistan.
He also said that 10 cartons of Tramadol 225mg, came in from Dubai on Ethiopian Airlines flight.
The NDLEA Director for Media and Advocacy, added that four cartons of 100mg and a carton of 225mg Tramadol came from Karachi, Pakistan on another Ethiopian Airlines flight.
According to him, on the same day, operatives at the SAHCO export shed intercepted cans of tomato paste going to the United Kingdom.
“A thorough search of the consignment revealed that the tomato cans were used to conceal 36 pellets of cannabis.
“This was with a gross weight of 21.30 kilograms, while a cargo agent, Sodehinde Akinwale, has also been arrested in connection with the seizure.
“Two days after, Oct. 25, operatives attached to the Nigerian Aviation Handling Company Plc (NAHCO) import shed of the Lagos airport, also seized five cartons of dried khat leaves.
“This was also weighing 107.70kgs that came in from Bangkok, Thailand, through Dubai on an Emirates Airline flight, ” he said.
Babafemi said that a follow-up operation on the seizure of 11.90kgs Meth concealed in the heads of dried fish going to Dubai, UAE on August 5, had also led to the arrest of a 30-year-old bricklayer, Babatunde Mamowora.
He said that the suspect was arrested on Oct. 27 in Sango Ota area of Ogun, in collaboration with men of the Nigerian Security and Civil Defence Corps (NSCDC) in the area.
NewsSourceCredit: NAN
The Pension Transitional Arrangement Directorate (PTAD), has completed the liquidation of 105 inherited pension liabilities of two defunct agencies, Delta Steel Company (DSC) and NICON Insurance PLC.
The Executive Secretary of PTAD, Dr Chioma Ejikeme, said this at a news conference on Thursday in Abuja.
Ejikeme said that the 105 months pension liability was valued at N7.05 billion.
“We have completed the liquidation of the outstanding 56 months inherited from NICON Insurance, (a total of 100 months was inherited) and 49 months of DSC (a total of 96 months were inherited) amounting to over N7.05 billion.
“ In 2017, the directorate received a directive from the Federal Ministry of Finance, Budget and National Planning to take over the management of pensions and severance benefit liabilities of ex-workers of some agencies.
“The agencies included DSC, NICON Insurance, Savannah Sugar Company, , Aluminum Smelter Company, and the Nigeria Aviation Handling Company (NAHCO), among others.
“These were commercial entities of the Federal Government that were either privatised or liquidated under the Bureau of Public Enterprises in 1999-2005 Public Enterprises Reform.
“This exercise resulted in the disengagement of a considerable number of public sector employees,” she said.
Ejikeme said that when PTAD was given the directive to on-board pensioners from these agencies, they were inherited with unpaid monthly pension.
“Also, with pension arrears ranging from 84 to 219 months, while some of the agencies entitled to one-off payments had not been paid.
“At the time of take-over, PTAD did not receive any pension funds or assets to meet the huge unfounded liabilities inherited from these agencies.
“In spite of this enormous challenge, the directorate worked assiduously to verify, validate, compute and enroll most of these ex-workers for monthly pension.
“One-off payments were made as appropriate to those whose severance benefits were so structured,” she said.
The executive secretary said that since 2017, PTAD had been liquidating the unfunded pension liabilities of these agencies.
“You may all recall that in Dec. 2021, PTAD had completely liquidated the inherited pension liabilities for New Nigerian Newspapers and the Nigerian Re-Insurance Corporation.
“The agency also made one-off payments to Savannah Sugar, and the Aluminum Smelter Company beneficiaries and their next of kin, and Nigerian Aviation Handling Company beneficiaries and their next of kin.
“It also settled some months of arrears for others,” Ejikeme said.
She commended President Muhammadu Buhari, the Ministry of Finance, committees of the Senate, House of Representatives oversighting pension, and the Budget Office for their support.
NewsSourceCredit: NAN
The National Drug Law Enforcement Agency (NDLEA) has uncovered fifteen parcels of cannabis and 600 grams of tramadol concealed in a sack of crayfish for export to Dubai, United Arab Emirates.
This is contained in a statement by the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi on Sunday in Abuja.
Babafemi said the attempt which was equally thwarted by operatives who seized the consignment, subsequently arrested a freight agent, Osahor Ekwueme, who presented it for export.
In the same vein, Babafemi said that the agency had also arrested a drug trafficker, Ifeanyi Egbuwaohia at Igando area of Lagos State.
He said the arrest came weeks after the NDLEA operatives intercepted 5.20kgs of cannabis concealed in kegs of palm oil enroute Dubai at the Nigerian Aviation Handling Company Plc (NAHCO).
Babafemi said that Egbuwaohia who was arrested at the NAHCO export shed of the MMIA, Lagos, was the brain behind the seized consignments.
“Though Ifeanyi works as a technician at Computer Village, Ikeja but beneath his known business, he also works with a drug network in Dubai, where he sends illicit drugs for distribution.
“Few hours after his arrest, another consignment of 2.60kgs of the same substance sent by him for export to Dubai was also intercepted by operatives at the airport.
“Another consignment of 1.30kgs of cannabis concealed in reconstructed engine blocks going to Dubai have also been seized.
“It was intercepted at the Skyway Aviation Handling Company Plc (SAHCO) export shed while two persons: Olatunji Temiola and Osemojoye Sunday have been arrested in connection to the bid, ” he said.
NewsSourceCredit: NAN
The Nigerian Exchange Ltd., (NGX) on Thursday moved 140.67 million shares worth N2.52 billion in 4,371 deals as the indices declined by 3.23 per cent.
This was in contrast with 135.52 million shares valued N2.22 billion transacted in 4,041 deals on Wednesday.
Guaranty Trust Holding Company (GTCO) was the most active stock accounting for 27.73 million shares worth N471.49 million.
It was trailed by Sterling Bank with an account of 25.43 million shares valued at N39.04 million while Zenith Bank sold 14.4 million shares worth N276.45 million.
Transcorp traded 13.21 million shares valued N13.82 million and Geregu Power transacted 4.96 million shares worth N586.76 million.
The market capitalisation decreased by N859 billion or 3.23 per cent to N25.741 trillion from N26.6 trillion recorded on Wednesday.
Also, the All-Share Index (ASI) depreciated by 1,515.81 points to close at 47, 260.89 as against 48,836.70 achieved on Wednesday.
Geregu Power led the gainers table increasing by 9.91 per cent to close at N120.90 per share.
Livestock Feeds followed with a growth of 9.8 per cent to close at N1.12, while Cutix added by eight per cent to close at N2.16 per share.
NAHCO rose by 3.92 per cent to close at 53k, while First City Monument Bank appreciated by 3.83 per cent to close at N3.25 per share.
On the other hand, Airtel Africa topped the losers chart dropping by 10 per cent to close at N1,800 per share.
Presco trailed with a loss of 9.99 per cent to close at N128.35, while Okomu Oil dropped 9.98 per cent to close at N169.50 per share.
Honeywell Flour Mill was down by 8.06 per cent to close at N2.11, while Red Star Express dipped by 8.62 per cent to close at N8.02 per share
NewsSourceCredit: NAN
The Nigerian Exchange (NGX) Ltd. closed the week on a bullish note Friday, with market capitalisation gaining N32 billion or 0.12 per cent to close at N26. 451 trillion against N26.419 trillion on Thursday.
Also, the All-Share Index went up by 59.33 basis points or 0.12 per cent to close at 49, 024.16 compared with 48,964.83 on Thursday.
The upturn was impacted by gains recorded in stocks such as FBN Holdings, Jaiz Bank, Guinness and NGX Group.
Accordingly, the market breadth closed positive with 17 gainers in contrast with 10 laggards.
RT Briscoe led the gainers’ chart in percentage terms by 9.68 per cent to close at 34k per share.
Mayer and Baker followed with a gain of 9.63 per cent to close at N4.10, while Guinness appreciated by 9.29 per cent to close at N82.90 per share.
Jaiz Bank rose by 8.43 per cent to close at nine kobo, while UPDC Plc appreciated by 8.42 per cent to close at N1.03 per share.
On the other hand, Ikeja Hotel led the losers’ chart in percentage terms by 9.68 per cent to close at N1.12 per share.
Sovereign Trust Insurance followed with 6.9 per cent to close at 27k, while Nigerian Aviation Handling Company (NAHCO) shed 3.51 per cent to close at N5.50 per share.
UPDC Real Estate Investment Trust lost 3.12 per cent to close at N3.10 per share.
In all, the total volume of shares traded increased by 61.58 per cent to 356.73 billion shares worth N3.74 billion traded in 3,219 deals.
This was in contrast with 220.78 million shares valued at N2.25 billion transacted in 3,195 deals the previous day.
NewsSourceCredit: NAN
The National Drug Law Enforcement Agency (NDLEA) has arrested an alleged notable producer of new psychoactive substance, popularly called Akuskura with 26,600 bottles of the illicit substances.
The Director, Media and Advocacy, NDLEA, Mr Femi Babafemi, said in a statement on Sunday in Abuja, that the suspect was arrested on Sept. 13.
Babafemi said the suspect, Qasim Ademola, was arrested by anti-narcotic officers with the Akuskura substances meant for distribution across Northern states.
He said that the consignment was seized on Sept.15 along Zaria-Kano road, Gadar Tamburawa, Kano.
He added that the 39-year old proprietor from Akinyele Local Government Area of Oyo State and three of his distributors, were arrested in follow-up operations.
In another development, NDLEA operatives intercepted a drug trafficker, Chukwu Kingsley on his way to Rome, Italy on an Asky Airline Flight.
Babafemi said that a search on his luggage showed he had concealed among food condiments 11,460 tablets of tramadol 225mg with a gross weight of 5.7kg and 39 bottles of Codeine Syrup.
He said that the 49-year old suspect was a known haulage agent who hailed from Oru West Local Government Area of Imo.
Also at the Lagos airport, a freight agent, Lawal Adeyemi, was arrested same day for attempting to export some sachets of lexotan, among other non-controlled drugs to Liberia.
Babafemi said that the NDLEA operatives however, equally seized 593.90 kilograms of khat leaf at the Nigerian Aviation Handling Company (NAHCO) import shed of the airport on Sept. 15.
This he said, was after a joint examination of the cargo by a combined team of security agencies.
Babafemi said the Chairman, NDLEA, retired, Brig. Gen. Buba Marwa, commended the officers and men of the command and their counterparts in Lagos and Kano for their vigilance and resilience.
Marwa charged them and others across the country, to remain focussed as they daily discharge their responsibilities.
NewsSourceCredit: NAN
The Nigerian Aviation Handling Company Plc (NAHCO) has taken delivery of new set of Ground Support Equipment (GSE) to improve service delivery to its clients in the industry.
Its Head, Corporate Communications, Mr Samuel Akinrinmade, made this known in a statement issued in Lagos on Friday.
Akinrinmade explained that the equipment included four units of high capacity Mallaghan Mobile Steps with chutes and a 14 tons cargo maindeck highloader.
He said: “The tier four Deutz engine capacity Mobile steps are installed with multi-functional Sensors.
“While the Angelo Highloader, has a forward platform with three folding flaps and automatic retractable rear stopper.
“It also comes with a dual row of 10 powered rubber wheels controlled in two independent sections for longitudinal transfers.
“The battery-operated emergency pump Highloader comes with a double hydraulic braking on each front wheel to aid its performance.
”
Akinrinmade added that also acquired were five units of Toyota coaster buses and one Toyota Hiace bus, all for crew transportation.
NAHCO Group Managing Director, Mr Indranil Gupta, said at the unveiling of the GSE that the company was committed to satisfying its clients through excellent service delivery.
Gupta said he was confident that the equipment acquisition would bolster its resolve in making the NAHCO a one-stop-shop for aviation logistics and travels.
He noted that “along with the phased plan of GSE acquisition, we also plan to invest in cutting-edge technology to delight our clients in a more effective, efficient and seamless manner”.
The News Agency of Nigeria reports that NAHCO Plc is a Nigerian diversified enterprise with interests in aviation cargo, aircraft handling, passenger facilitation, crew transportation, and aviation training and logistics.
The company currently offers its services to several airlines across the major functional airports within Nigeria, and handles the larger market share of domestic, foreign and cargo airlines.
NAHCO was privatised in 2005 and listed on the Nigerian Stock Exchange in 2006 and has remained the fastest growing stock in the industry.
The company is now owned by over 80,000 shareholders, as well as local and institutional investors.
NewsSourceCredit: NAN
A 53-year old Brazilian returnee, Okolie Nwabueze, has been arrested at the Nnamdi Azikiwe International Airport (NAIA) Abuja by operatives of the National Drug Law Enforcement Agency (NDLEA) for allegedly importing 92 wraps of cocaine.
This is even as Nwabueze, a father of two, ingested the drugs and eventually excreted them after days under observation in the Agency’s facility.
This is contained in a statement by the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi on Sunday in Abuja.
Babafemi said that the suspect who hailed from Mmaku village, Awgu Local Government Area of Enugu State, was arrested on Sept. 2.
The arrest was upon his arrival on Qatar Airline flight enroute Brazil-Doha-Abuja.
The NDLEA spokesperson said that the suspect claimed to have left Nigeria to Mozambique in 2004 and finally relocated to Brazil in 2017.
This, he added, was where he obtained a residence permit before deciding to import the illicit substance for a $4,000 fee.
In the same vein, a 42-year old man, Aliyu Kwasare, was arrested at the Mallam Aminu Kano International Airport, (MAKIA), Kano.
Babafemi said that the suspect was caught for attempting to export a consignment of new psychoactive substance, “Akuskura”, to Saudi Arabia.
He said that the suspect, an indigene of Kware LGA Sokoto, who lived in Goron Dutse area of Kano, was arrested on Sept. 5.
He said arrested during the outward clearance of passengers on Ethiopian Airline flight to Riyadh.
In another development, at the Murtala Muhammed International Airport (MMIA) Ikeja Lagos, no fewer than 1.099 million tablets of Tramadol (225mg) have been seized.
Babafemi said the drugs were intercepted through inter-agency collaboration between NDLEA and the Nigerian Customs.
“The pharmaceutical opioids packed in 50 cartons weighing 2,058.90kg, were imported from Pakistan via Addis-Ababa on Ethiopian Airways.
“The consignment was concealed among other non-controlled pharmaceuticals.
“Also, a freight agent, Aliyu Abubakar, was on Friday arrested at the Nigerian Aviation Handling Company Plc (NAHCO) export shed of the airport.
“The arrest was over an attempt to export a consignment of cannabis concealed inside bottles of Caro white body lotion, ” he said.
NewsSourceCredit: NAN
The equity market extended losses on Tuesday as the market capitalisation dropped by 0.07 per cent to close at N26.776 trillion from the 26.794 trillion on Monday.
Similarly, the All-Share Index dipped further by 34.06 points or 0.07 per cent to 49,642.69 from 49.676.75 recorded on Monday.
The negative performance was due to selloffs in stocks of MTN Nigeria and Tier-One banks, which included Guaranty Trust Holding Company (GTCO) and Access Holdings.
Analysts at GTI Research said, “Sell pressure persists extending the bearish trend, as investors continue to react to prevailing sovereign risk and interest rate environment.
“We expect the trend to continue till the end of the week.
”
Overall there were 13 gainers and 13 losers, with E-Tranzact International leading the gainers’ chart with 9.65 per cent to close at N2.50 per share.
Sovereign Trust Insurance followed with a rise of 7.69 per cent to close at 28k, while Vitafoam Nigeria gained 7.27 per cent to close at N23.60 per share.
Also, Japaul Gold and Ventures rose by 6.45 per cent to close 33k per share.
Consolidated Hallmark appreciated by 4.84 per cent to close at 65k.
Conversely, Courteville Business Solutions led the losers’ chat with a depreciation of 7.69 per cent to close at 0.48 per share.
FCMB Group declined by 4.06 per cent to close at N3.07, while UPDC went down by 3.77 per cent to close at N1.02 per share.
Nigerian Aviation Handling Company (NAHCO) fell by 3.72 per cent to close at N5.70 per share.
Also, Cadbury lost by 2.99 per cent to close at N13.00 per share.
Analysis of today’s activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 44.32 per cent.
A total of 125.95 million shares valued at N3.07 billion were exchanged in 4.145 deals.
Mutual Benefits Assurance recorded the highest volume of 25.34 million shares traded worth N8.24 million.
Fidelity Bank followed, having sold 10.23 million shares valued at N31.07 million.
Access Holdings traded 8.99 million shares worth N73.68 million, while FBN Holdings sold 7.71 million shares amounting to N84.39 million.
Also, MTN Nigeria sold 7.27 million shares worth 1.45 billion
NewsSourceCredit: NAN
