Investors in the Nigerian equities market made N1 billion at the end of trading on Thursday.
This followed an increase in the share price of stocks like CHAMPION, VERITASKAP, and ROYALEX amongst others on the trading floor today.
After five hours of trading at the capital market, the equity capitalization rose to N56.479 trillion from N56.478 trillion posted by the bourse on Wednesday.
The All-Share Index (ASI) remained unchanged at 99,842.94 on Thursday.
The market breadth was positive as 35 stocks advanced, 16 stocks declined, while 72 stocks remained unchanged in 8,364 deals.
CHAMPION, VERITASKAP, and ROYALEX led other gainers with 9.88%, 9.88% and 9.84% growth in share price to close at N3.56, N0.89, and N0.67 from the previous N3.24, N0.81, and N0.61 per share.
On the flip side, TRANSCOHOT, REGALINS, and LASACO led other price decliners as they shed 10%, 8.51%, and 6.07% each to close at N90.00, N0.43, and N2.02 from the initial prices of N100.00, N0.47, and N2.15 per share.
On the volume index, FBNH led trading with 871.083 million shares valued at N19.1 billion in 332 deals followed by FIDELITY BANK which traded 162.079 million shares valued at N1.73 billion in 538 deals.
TRANSCORP traded 33.698 million shares valued at N399 million in 478 deals.
On the value index FBNH recorded the highest value for the day trading stocks worth N19.1 billion in 332 deals followed by FIDELITY BANK which traded equities worth N1.731 billion in 539 deals.
STANBIC traded stocks worth N839 million in 56 deals.
By: Babajide Okeowo
The post NGX: Investors make N1bn as Champion, Veritaskap, Royalex stocks soar appeared first on Latest Nigeria News | Top Stories from TVN.
NGX: Investors make N1bn as Champion, Veritaskap, Royalex stocks soar
BREAKING: Kano govt orders demolition of Ado-Bayero’s palace
The Kano State Government has ordered the demolition of the palace of the 15th Emir of Kano, Aminu Ado-Bayero.
The state Attorney General and Commissioner for Justice, Haruna Dederi, said the demolition will allow for the renovation of the palace.
Dederi also disclosed that the Commissioner of Police has been asked to remove Bayero from the Nasarawa GRA mini palace where he resides.
Addressing a press conference, Dederi said the government has “concluded arrangements for the general reconstruction and renovation of the property including the demolishing and reconstruction of the dilapidated wall fence with immediate effect.”
The development comes a few hours after the Federal High Court ruled on its substantive suit validating the Kano Emirate Council Repeal Law 2024 but nullifying all actions of Governor Abba Yusuf following the passage of the law.
BREAKING: Kano govt orders demolition of Ado-Bayero’s palace
Fubara architect of Rivers crisis, APC replies PDP
The All Progressives Congress has labelled Rivers State Governor, Siminalayi Fubara, as the architect of the political unrest plaguing the oil-rich state.
The ruling party also faulted Wednesday’s allegation by the Peoples Democratic Party that the APC was planning to hijack the control of Rivers, describing the allegation as a figment of its imagination.
The National Publicity Secretary of the APC, Felix Morka, revealed this in a statement issued in Abuja on Thursday titled ‘Plot to forcefully take over Rivers State exists only in PDP’s warped imagination.’
The political fireworks between the two parties was ignited following the call by Rivers APC Caretaker Committee Chairman, Tony Okocha, for the Federal Government to declare a state of emergency in the state, citing the presence of a full-blown war.
In reaction, the PDP National Publicity Secretary, Debo Ologunagba, said that Okocha’s statement exposes APC’s intention to provoke a crisis in Rivers State.
While stating that the alleged plot has failed, Ologunagba emphasised that the state will remain a stronghold of the PDP.
But Morka blamed the political crisis on Fubara.
The ruling party claimed that since he assumed office over a year ago, the governor has displayed reckless disdain for the rule of law and democratic institutions, adding that he conducted his government in flagrant violation of the Constitution.
The APC publicist recalled how Fubara constituted a three-man Assembly after declaring Rivers state House of Assembly to be non-existent in what it called an unprecedented display of autocratic arrogance,
He said, “This ridiculous and baseless claim was the subject of the party’s garbled press statement of Wednesday. The PDP offered no justification for its bogus claim except to mischievously misrepresent and amplify the comments reportedly made by Chief Tony Okocha while sweeping under the carpet the salient issues underpinning the festering crisis in Rivers State.
“Quite contrary to the PDP’s misplaced quibbles against Okocha comments, Governor Siminalayi Fubara is the supreme architect of the horrific crisis rocking Rivers state. The governor has continued to expend public funds without lawful appropriations by a duly constituted legislature thereby undermining the will of the good people of Rivers State and their right to effective and accountable democratic governance.
“Governor Fubara is an executive governor of crisis. A serious and focused governor would have set a clear programme to conduct local government elections given the established timeline for the expiration of the tenure of the incumbent elected local government officials. Rather, he sat idly for their tenure to elapse to unleash a fresh round of thuggery on the people, seeking to arbitrarily impose illegal, unconstitutional and anti-democratic caretaker committees to run the affairs of local governments in place of democratically elected local government officials.
He added, “The current crisis in Rivers state is contrived and executed by Fubara who has continued to usurp the legislative power of the Rivers state legislature while contemptuously disregarding valid decisions and orders of courts of competent jurisdiction in critical matters at the root of the crisis in the state.
“The PDP would rather peddle falsehood about a non-existent plot to interfere with the government of Rivers state instead of giving a crash course to Governor Fubara on the basic tenets of democratic and constitutional governance for the benefit of the good people of Rivers State.”
Ogun doctors threaten strike over poor working conditions
The Nigerian Medical Association, Ogun State branch, on Thursday threatened to embark on industrial action within the next one week over poor working conditions.
Speaking at a press conference held at Doctors’ House, Lukosi, Abeokuta, on Thursday, the NMA Chairman, Dr. Azim Ashimi, revealed that the 21-day ultimatum given on June 7, 2024, will expire next week, Thursday, June 27, 2024.
He said members would embark on industrial action unless the state government takes immediate action to address their concerns.
Ashimi highlighted that despite ongoing discussions with relevant government officials, there have been only verbal assurances without official commitment.
He urged the citizens of Ogun State to pressure the government to take necessary steps to prevent the looming strike, which could disrupt healthcare services across the state.
Ashimi said, “The State Executive Council of NMA, Ogun, issued a 21-day ultimatum to the state government on June 7, 2024, which will elapse on June 27, 2024, indicating that industrial harmony may not be guaranteed after this date as the pressure of work on the few doctors holding forth is yielding dire consequences.
“Conversations have been ongoing in this respect with relevant government officers, with verbal assurances but no official commitment from the government yet.
“We use this opportunity to call on well-meaning citizens of Ogun State to impress upon the Ogun State government to do what is needed in order to avert any industrial action.”
Ashimi noted that hospitals like Babcock University Teaching Hospital have seen their monthly electricity bills surge from ₦80-100 million to ₦300 million.
He called for concessions to be given to health institutions to prevent these increased costs from being passed onto patients, potentially making healthcare inaccessible for many.
“Over the last few weeks, we have been inundated with SOS messages from health institutions across the state concerning the enormous increase in operating costs of hospitals occasioned by the recent increase in electricity tariffs.
“For example, Babcock University Teaching Hospital, a mission tertiary health institution, informed us that their electricity bills jumped from between ₦80-100 million monthly to ₦300 million in the last month.
“ While we appreciate the zeal of the government to develop the energy sector, we appeal strongly that concessions be given to health institutions, as these humongous tariffs will eventually be passed on to our poor patients, thereby driving them further away from access to appropriate healthcare services,” the NMA chairman said.
Ashimi also addressed the ongoing cholera sensitization programmes in collaboration with the Ogun State Ministry of Health and various media houses.
He emphasized the importance of preventive measures and provided contact numbers released by the Honorable Commissioner of Health, Dr. Tomi Coker, for reporting suspected cholera cases.
He said the cases would be treated free of charge at designated facilities.
Ashimi explained that “In Ogun State, the Nigerian Medical Association in collaboration with the relevant stakeholders including the Ogun State Ministry of Health and various media houses have been carrying out sensitization programmes whilst also strengthening the health system to cater for cases in the state.
“To this end, the Commissioner of Health, Dr. Tomi Coker, has released phone numbers to NMA Ogun to be disseminated to all our members and healthcare facilities, both public and private, that can be called when any patient presents with symptoms of Cholera.
“Such patients will be transported to and treated free at the facilities designated for the management of Cholera cases across the state.
“We use this opportunity to appeal to our people to imbibe preventive measures for the prevention of the spread of Cholera, including avoiding open defecation, avoiding indiscriminate refuse dumping, washing hands regularly, washing fruits and vegetables well before consuming and treating water before consuming it either by boiling or treating with chemical purifying agents.
“We also implore schools to monitor food, fruit, and snacks vendors around the schools to ensure that they practice proper hygiene. As well, schools should reintroduce hand washing stations like was done during the COVID-19 period.
“By working together we can prevent Cholera from spreading to Ogun State.”
He also spoke on the “Japa Syndrome,” referring to the mass exodus of healthcare workers from Nigeria, describing it as a significant challenge.
The NMA chairman said the trend has severely impacted the healthcare system in Ogun State, leading to a shortage of doctors and increasing the workload on those remaining.
Ashimi warned that unless the government addresses the disparity in salaries between state and federal health institutions, this trend could lead to the collapse of the healthcare system in the state.
He also drew attention to the growing issue of gambling addiction, comparing its potential impact to that of drug addiction. He called on the government to investigate and address this issue promptly.
He further announced an upcoming dialogue between the NMA and the media community, led by the NUJ, to discuss better reporting on healthcare issues and foster a stronger partnership while using the medium to inform the public about the forthcoming Elective Annual General Meeting, scheduled for August 4 to 9, 2024, and expressed gratitude for the support received over the past two years.
Ashimi urged the Ogun State Government to take immediate action to address the issues raised and avert the potential strike, which could severely disrupt healthcare services across the state.
No crisis in Rivers, says Fubara
Rivers State Governor, Siminalayi Fubara, has emphasised that the state and its people are enjoying an enduring atmosphere of peace to promote sustainable development, fast-paced investments, and accelerated economic growth.
He said the recent negative narrative that portrays the state as immersed in crisis with disrupted peace is untrue, misguided, and the handiwork of mischief makers.
Fubara spoke to newsmen in the Egbelu Community shortly after inspecting the progress of work on the 14.6km Omodu-Eberi Road project in the Omuma Local Government Area of the state on Thursday.
This was contained in a statement issued by the Chief Press Secretary to the Governor, Nelson Chukwudi.
The governor said it was important that Nigerians know of the uninterrupted peaceful atmosphere in the state because the people are going about their normal activities while governance is thriving.
He stated, “And to also tell Nigerians that Rivers State is peaceful. You can see that we are moving about inspecting projects, as opposed to what you see on the screens of your television sets: police are everywhere, we don’t move about anymore, and Rivers State is under siege.
“We are not under siege. Our state is free and peaceful. If at all there is any problem in any part of the state, I know quite well that Nigerians know where the problem is coming from, not from us.”
Fubara emphasised, “We are peace-loving people. It is already written all over us. Our actions and our deeds have confirmed that.
“We will continue to maintain the peace that we promised everyone for the betterment of the good people of Rivers State,” he added, encouraging the business community, especially potential investors, to take advantage of the vast investment opportunities that abound in the State.
Commenting on the 14.6km Omodu-Eberi Road project, Fubara stated that his administration started it with the goal of inaugurating it during his one-year office anniversary.
The governor explained that what delayed the work was the decision to extend the length of the road to make it serve as a comfortable link for motorists to drive onto Abia State.
He said, “We are in Omuma to inspect the project that we started. It was supposed to be part of the projects commissioned during our one-year anniversary celebrations.
“But we found out that some part of the job, if completed, will link Rivers State to Abia State, and we felt there is no need to commission it halfway without joining that part that connects us to Abia State.
“So, we directed the Ministry of Works to extend the project from 8 to 14.6km.
“So, we are here to see what is happening, and to prepare ourselves that maybe in the next two months, we might likely be coming here to commission this project for the good people of Omuma.”
Otedola regains top spot as First Bank’s biggest shareholder
Nigerian billionaire Femi Otedola, the Chairman of FBN Holdings, has regained his position as the majority shareholder of First Bank.
Otedola now holds a 9.41 per cent stake in the bank after acquiring N18.9 billion worth of the group’s shares on the Nigerian Exchange on June 20.
According to a corporate notice on Thursday, Otedola directly acquired 316,506,776 shares at a share price of N21.91 each, amounting to N6.935 billion.
He then acquired 546,674,034 shares at N21.97 each, amounting to N12.01 billion, through his holding company, Calvados Global Services Limited.
Otedola previously held a 7.01 per cent stake in the bank, behind Oba Otudeko’s Barbican Capital Limited, which holds an 8.67% stake.
With his acquisition of 863,180,810 shares, he increased his total stake in the group to 9.41 per cent.
Otedola’s acquisition accounted for 99 per cent of FBN Holdings’ turnover volume of 871.084 million shares on the NGX.
Femi Otedola, who rejoined the Forbes Billionaires List this year, is now the majority shareholder in two major Nigerian companies, FBN Holdings and Geregu Power Plc.
He also owns the second-largest single individual shareholding for any publicly listed bank, behind Jim Ovia’s 11.29 per cent shareholding of Zenith Bank.
The contest for the majority stake in FBN Holdings dates back to December 2021, when Femi Otedola increased his shareholding from 5.07 per cent to 7.57 per cent.
The contest for the majority stake in FBN Holdings dates back to December 2021, when Femi Otedola increased his shareholding from 5.07% to 7.57%.
Otedola in late 2021 acquired a 7.6 per cent interest in the financial services group. He displaced Tunde Hassan-Odukale to take the lead position but then held a 5.57 per cent stake according to the unaudited report of the lender for the first half of 2023.
Hassan-Odukale interests stood at 4.40 per cent at the end of the same period.
Again, in October 2023, Otedola was listed as the largest shareholder of First Bank of Nigeria Holdings Plc, despite the acquisition of 4.7 billion units of FBNH shares by the former chairman of the group, Oba Otudeko.
This was revealed in the unaudited consolidated financial statements for the period ended September 30, 2023, of the financial institution filed with the Nigerian Exchange Limited.
In February this year, the First Bank of Nigeria Holdings appointed Otedola the new chairman of its board of directors.
Sharing a picture of the announcement on his Instagram page, he wrote, “Interesting”, and added smiley and dollar emojis.”
One dead, five hospitalised as cholera spreads to Ogun
Ogun State has recorded its first case of cholera outbreak with the death of a 62-year-old woman in the Ijebu-Igbo area of the state.
Our correspondent gathered that the outbreak, which occurred three days ago, also left five other persons hospitalised.
The deceased, it was gathered, contracted the disease from her son, who is now among those hospitalised.
The state Commissioner for Health, Dr. Tomi Coker, confirmed the incident to our correspondent on Thursday.
Coker said 14 cases of cholera had been reported from the four local government areas of Ota, Abeokuta South, Obafemi Owode, and Ijebu North.
According to her, five other persons had also been hospitalised.
“A 62-year-old lady who contracted cholera from her sick son died in Ijebu Igbo. Five others have also been hospitalised across four local government areas of Ota, Abeokuta South, Obafemi Owode, and Ijebu North.
“The cumulative total cases since last week are 14 with one fatality,” Coker said.
She urged residents of the state to maintain good hygiene and avoid drinking water from unknown sources.
“I want to call on Ogun people to keep calm and be on the alert for anyone with the symptoms of cholera. They should report any suspected case of cholera to our disease surveillance team,” Coker said.
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Gunmen abduct pregnant woman due for delivery in Ogun
A pregnant woman identified as Ogunbunmi Lateef has reportedly been kidnapped by armed men in Ogun State.
Ogunbunmi was said to have left her home in Oke Lantoro for the State General Hospital, Ijaiye, Abeokuta before her reported abduction.
Her husband, Ogunbunmi Lateef, was also reported to have received a WhatsApp message notifying him of his wife’s kidnap by these abductors.
Confirming the incident, on Thursday in a statement on her X handle, the spokesperson for the state police command, Omolola Odutola, said the abduction had been reported to the command.
Odutola wrote, “One Ogunbunmi Lateef of Oke Lantoro reported that his pregnant wife due for delivery left home for State Hospital Ijaiye Abeokuta.
“He received a WhatsApp message confirming the abduction of his wife by unknown armed men.”
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Army to serve Nigeria better with acquisition of aircraft
The Chief of Army Staff, Lt. Gen. Taoreed Lagbaja on Thursday said the acquisition of new aircraft would help the Army serve the country better.
He also expressed hope that troops would overcome criminal elements threatening the peace of the country and guarantee economic prosperity for the country with the new aircraft.
Lagbaja spoke at the Nnamdi Azikiwe International Airport in Abuja while receiving two newly acquired helicopters.
According Online reports that two new Bell UH-1H helicopters touched down in the country at about 4:30 pm on Thursday.
The two helicopters are meant to be used for logistics, surveillance, training and casualty evacuation among others.
Lagbaja noted that the aircraft would give troops the flexibility needed on the battlefield.
He said, “We are on a learning curve in the aviation business. We hope it will be a pleasant experience that will give our troops flexibility in the field and enhance our operational successes.
“The Nigerian Army is poised to serve the nation better with the acquisition of these platforms. We shall overcome and give our people the enabling environment for economic prosperity. ”
Lagbaja noted that the Army had nurtured the desire to have an aviation wing since 1984, expressing delight that the dream has finally materialised with the acquisition of the two helicopters.
He said, “Aviation has always been a game changer, and that informs the decision for the Nigerian army to strive to acquire platforms towards the actualisation of the dream of having an army aviation arm since 1984.
“Today that dream has been actualised. We expect that the support that will be provided to the troops in the field with the acquisition of this utility helicopter, in terms of casualty evacuation, and the supply and insertion of troops in critical areas, will have greater flexibility and improve operational efficiency in the field. ”
The Army Chief stated that the aircraft were ready for deployment right away.
“If we have a mission tomorrow to pick one thing or the other to send logistics to any frontline location, they will be tasked accordingly. So they are deployed already.”
Speaking, the Coordinator, Nigerian Army Aviation, Brigadier General M.S Alkali said the helicopters would strengthen the Army’s reconnaissance, surveillance, and air mobility capabilities.
He said, “The acquisition of these air platforms is a clear demonstration of our resolve to continuously improve and adapt in the face of evolving security landscapes. These platforms will significantly bolster the NA’s reconnaissance, surveillance, and air mobility capabilities, thereby enhancing our overall operational effectiveness.
“As we integrate these platforms into our operations, let us also remember that the true strength of our aviation lies in the skilled and courageous personnel who operate and maintain these machines. Their professionalism, dedication, and expertise are the bedrock upon which our success is built.”
Police arrests five suspected kidnappers, car snatcher in Kaduna
Police operatives in Kaduna have arrested five suspected Kidnappers and one suspected car snatcher in the state.
The spokesman for the state police command, Mansir Hassan confirmed the arrest in a statement on Thursday in Kaduna.
He said: “On June 15, at about 18:10 hours, the Divisional Police Officer (DPO) of Maigana received intelligence from a concerned citizen regarding a group of kidnappers planning to collect ransom money from the relatives of their victim.
“The DPO acting swiftly mobilized his patrol team and some members of the local vigilante group to the location.
“The operation resulted in the successful arrest of the suspects, Shuaiabu Bala, 23, from Malanta, Gimba Village, and Safinu Musa 22, from Bugau Village, Anchau, Kubau Local Government Area (LGA) of the state.”
He said investigations are ongoing to apprehend other members of the kidnapping gang.
“However, a significant breakthrough in fighting kidnapping was made on June 17 with the arrest of three other suspected kidnappers.
“Acting on credible intelligence received by the Divisional Police Officer (DPO) of Tafa, it was reported that some suspected kidnappers were sighted roaming around Tafa Town.
“At about 1700 hours, the DPO immediately mobilized and led a surveillance team, in conjunction with the Civilian Joint Task Force (JTF) of Tafa to the scene.
“As a result of this swift action, three suspected kidnappers were arrested and brought to the station.
“The suspects have been identified as Sani Amadu 17, Sani Lawal, 20, and Aliyu Usman 22, all residents of Dadin Kowa, Tafa LGA of Niger State.
“During the investigation, incriminating evidence, including pictures and videos of banditry activities, was discovered on their cell phones.
” Upon completion of the preliminary investigation, the case will be transferred to the Anti-Kidnapping Unit for further action,” the spokesman added.
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