Nigerian Exchange Bounces Back with N339 Billion Gain in Market Capitalization+30
The Nigerian Exchange (NGX) rebounded from its recent bearish trend, as equities surged and market capitalization saw a significant gain. This positive turnaround was led by Transcorp and NASCON. The All-Share Index (ASI) closed 0.93% higher, while the market capitalization rose by N339 billion. DANGOTE SUGAR, NASCON, and NAHCO were among the top gainers, while COURTVILLE, ABC TRANSPORT, and TANTALIZER experienced losses. Despite lower trading activity in terms of volume, OANDO emerged as the most traded equity. ZENITH BANK and GTCO performed well, while BUA CEMENT, BUA FOODS, SEPLAT ENERGY, MTN NIGERIA, DANGOTE CEMENT, and AIRTEL AFRICA remained unchanged.
Enugu Governor Vows to Restore Institute of Management and Technology (IMT) to its Glory+30
Enugu State Governor, Dr. Peter Mbah, has reiterated his commitment to reviving the Institute of Management and Technology (IMT), Enugu. The Governor received the report of the Committee of Inquiry into the Accounts, Management Practices, and Staff Conduct in the institute. The report will serve as a pillar for planned reforms in the institution and education sector statewide.
Human Rights Abuses in Congo's Mining Industry for Green Technologies+30
A new report from Amnesty International and another rights group reveals the human rights abuses in the mining industry in Congo, particularly in the production of minerals critical to electric vehicle batteries and other green technologies. The report highlights forced evictions, physical assault, and abusive labor conditions in the country, which is the world's largest producer of cobalt and Africa's top producer of copper.
Tragic Accident Claims Life of Pregnant Woman in Ogun State+30
A tragic accident in Magboro, Ogun State, involving a truck has claimed the life of a pregnant woman and injured her two-year-old child. The incident occurred when the truck suffered brake failure and swerved into a busy market, causing chaos and leaving several vehicles damaged. The Federal Road Safety Corps has been alerted and is investigating the accident.
Tragedy Strikes in Nigeria as Boat Capsizes, Leaving Dozens Dead and Missing+30
A tragic boat accident in Nigeria has resulted in the death of 26 people, while 44 individuals remain missing. The incident occurred in the Mokwa local government area of Niger state. The victims, mostly women and children, were travelling in a wooden boat when it capsized between the Jabba and Kainji dams. Local authorities continue their search and rescue efforts to find survivors, and the death toll may rise. Boat accidents are common in Nigeria, often due to overloading and poor infrastructure.
France Accused of Amassing Forces for Possible Intervention in Niger+30
Niger's new military leaders have accused France of gathering forces for a potential military intervention in the country. French President Emmanuel Macron has stated that any action will only be taken at the behest of the deposed Nigerien leader Mohamed Bazoum. The Economic Community of West African States (ECOWAS) is also considering collaborating on the intervention. The junta in Niger has used anti-French sentiment to solidify its support amongst the population since ousting Bazoum. The accusations by the junta cited the deployment of French military aircraft and armored vehicles in neighboring countries.
Governor Hyacinth Alia Cleanses Benue State Workforce of Payroll Manipulation, Pays 4 Months' Salary+30
Governor Hyacinth Alia of Benue State has been commended for his accomplishments in his first 100 days in office. One of the notable achievements is the cleansing of the state workforce from payroll manipulation. In addition, the governor has successfully paid four months' salary and is committed to clearing all arrears. This news article highlights the significant progress made by Governor Alia and his administration.
Evangelist Naomi George Prophecies Peter Obi Will Be Declared President of Nigeria+30
Evangelist Naomi George has prophesied that Peter Obi, the presidential candidate of the Labour Party (LP), will soon be declared the president of Nigeria. She stated that the time is near for this prophecy to be fulfilled. This article explores the details of the prophecy and reactions to it.
Peter Obi's Rejection of PEPC Judgment: A Matter of Perspective+30
In a recent interview, Nyesom Wike, the Minister of the Federal Capital Territory (FCT), criticized Peter Obi's rejection of the PEPC judgment. Wike questioned Obi's acceptance of Supreme Court decisions in the past but refusal to acknowledge the recent judgment. This article explores the different perspectives surrounding Obi's reaction and the implications it holds for Nigerian politics.
Nigeria Loses $46 Billion to Crude Oil Theft: A Looming Fiscal Crisis+30
Nigeria has lost a staggering $46 billion to crude oil theft between 2009 and 2020, severely impacting the country's oil production and revenue. The Speaker of the House of Representatives has expressed concern over the failure of critical agencies in the oil and gas sector to address the issue. The decline in oil production, coupled with global uncertainties, warns of a looming fiscal crisis. An ad hoc committee has been inaugurated to investigate the rampant oil theft and its detrimental effects on the nation.
Process to Return Displaced People Back to Their Ancestral Homes Commences, Says Benue Governor+30
Benue state governor, Rev. Fr. Hyacinth Alia, has announced that the process of returning the people displaced by armed herdsmen, and currently living in IDP camps, back to their ancestral homes has commenced. He highlighted the three stages of the process: dialogue, ongoing second stage, and eventual return to homesteads. Governor Alia also discussed his administration's achievements within the first 100 days in office, including salary and pension payments, infrastructure development, and youth empowerment initiatives.
National Assembly Election Petitions Tribunal declares Delta South Senatorial election inconclusive+30
The National Assembly Election Petitions Tribunal in Delta State has declared the February 25, 2023 National Assembly election in Delta South Senatorial district inconclusive. The tribunal ordered INEC to conduct a supplementary re-run election in Warri South Local Government Area. The decision came after a petition was brought by Michael Diden of the PDP, challenging the declaration of the APC candidate as the winner of the election.
Nigeria Appeals Court to Rule on President Tinubu's Election Victory+30
An appeals court in Nigeria is set to rule on President Bola Tinubu's election victory, which has been challenged by the opposition due to allegations of qualification and electoral process violations. The court's decision holds significant implications for Nigeria's political landscape and could lead to protests if ruled in favor of Tinubu.
Fidelity Bank Records Impressive Profit Before Tax Growth in H1 2023+30
Fidelity Bank Plc has announced a remarkable 204.4% increase in Profit Before Tax for the first half of 2023. The bank's financial results showcase significant growth in earnings, loans, deposits, and assets, reinforcing its position as a leading financial institution in Nigeria. The bank's CEO, Nneka Onyeali-Ikpe, expressed satisfaction with the bank's performance and emphasized its commitment to delivering sustainable value to shareholders. Fidelity Bank has been recognized with various awards, highlighting its excellence in serving SMEs and fostering entrepreneurship in Nigeria.
ECOWAS Chairman Tinubu Supports Nine-Month Transition Period in Niger Republic Following Coup+30
ECOWAS Chairman, President Bola Ahmed Tinubu, has shown support for a nine-month transition period in Niger Republic in the wake of the recent coup that ousted President Mohammed Bazoum. Tinubu suggests that the successful transition period implemented in Nigeria in 1998, under General Abdulsalami Abubakar, could serve as a model for Niger if the coup leaders are sincere. The African Union has suspended Gabon and is calling for the restoration of constitutional order and the addressing of root causes of coups in member states. Additionally, the military junta in the Niger Republic has expressed its willingness to engage in dialogue with ECOWAS.