Equities investors lose N78.8bn as bears persist at NGX
Equities trading at the Nigerian Exchange Limited (NGX) closed bearish as the domestic bourse extended the previous day’s loss. As measured by market breadth, market sentiment was negative, as 20 tickers declined, relative to 16 gainers. Despite the southward movement in the benchmark index, performance across sub-indices was largely positive except for the NGX Banking Index and the NGX Industrial Index which fell by 0.17nper cent and 0.01 per cent respectively. The NGX Insurance Index, NGX Consumer Goods Index and the NGX Oil/ Gas Index rose by 2.35 per cent, 0.04 per cent and 0.89 per cent respectively. But before this dreaded disease is greeted by rumours and misinformation, here is what you have to know about the virus.Equities investors lose N78.8bn as bears persist at NGXEquities investors lose N78.8bn as bears persist at NGX
Source:Nigerian Tribune
February 09, 2022 03:03 UTC
GTCO acquires Mutual Fund Pension Subsidiaries of Investment One Financial Services
The companies are held by Investment One Financial Services Limited (the Seller). The Seller, according to a statement from GTCO, is regulated by the SEC and offers a wide range of services including Investment Management, Trust Services, Financial Advisory Services, Security Brokerage and Pension Funds Management. Forthwith, the Companies cease to be subsidiaries of the Seller and have become wholly owned subsidiaries of GTCO Plc. GTCO Plc is a diversified financial services company with N5.144 trillion in assets, providing commercial banking services and non-banking financial services across eleven countries, including the United Kingdom. The Group offers a wide range of banking as well as non-banking financial services in Nigeria, West Africa, East Africa, and the United Kingdom.
Source:Nigerian Tribune
February 08, 2022 20:14 UTC
Fuel subsidy: Good politics | The Guardian Nigeria News - Nigeria and World News
The decision by the Federal Government to postpone the scrapping of subsidy on petrol is a good political decision. The Federal Government has decided to shift the decision on petrol subsidy for 18 months. This huge deficit must have tempted the government into thinking that the easy solution was the removal of subsidy on petrol. Recently, the NNPC presented a proposal of N3 trillion to the Federal Executive Council (FEC) as the bill to meet the funding provisions of the incremental petrol subsidy. As petrol subsidy is now to be retained the government has hinted that it will have to resort to more borrowing to keep the government running.
Source:The Guardian
February 08, 2022 16:39 UTC
Corruption: Why Transparency International’s ranking on Nigeria is inaccurate – Malami
The Attorney-General of the Federation( AGF), Abubakar Malami, has criticised the recent ranking of Nigeria by Transparency International as the second most corrupt country in West Africa. Nigeria dropped for the fifth consecutive time in the Transparency International’s latest corruption perception index (CPI) released in January 2022. Mr Buhari came to power in 2015 with a promise to tackle Nigeria’s endemic corruption, especially in public service. “If Nigeria does not kill corruption, then corruption will kill Nigeria,” Mr Buhari was quoted to have said in one of his campaign slogans in the build up to the 2015 polls. He went on to reference the 2019 assessment of the Nigerian government by the UNODC, juxtaposing it with TI’s ranking, saying, “When you juxtapose the UNODC position with the TI’s ranking, then that places a question mark on the TI’s assessment.”Successes?
Source:The Guardian
February 08, 2022 05:53 UTC
How I was defrauded N83 million, woman tells court | The Guardian Nigeria News - Nigeria and World News
The Nigerian Police had arraigned Obande Emmanuel, Dauda Akeem, Fagunwa Michael and Abdul Samson on a five counts charge bordering on fraud. The witness told court she received a call from her business partners, Oando, complaining about the reduction in her company’s capital, asking her to recapitalise. She further told the court that the defendants dishonestly converted the sum of N10, 560,000 sales to personal benefits. The police alleged that the defendant and others between 2018 and September 17, 2019 within Lagos as the employees of Oando Service Station conspired amongst themselves to commit a felony, to wit; stealing the sum of ₦22,234,000 property of Oando Service Station. After listening to her testimony, the trial judge subsequently adjourned cross-examination to February 15, 2022.
Source:The Guardian
February 08, 2022 03:46 UTC
Defamation: Hausa actress Sadiya Haruna bags six-month jail sentence
A Kano Chief Magistrate Court sitting at Malam Aminu Kano International Airport, on Monday sentenced a Kannywood actress, Sadiya Haruna, to six months in prison without the option of a fine for defaming a colleague, actor Isa A. Isa. The actress was charged with defaming Isa in a video and posted the same on her social media pages. While reading his judgement, the presiding judge, Justice Muntari Dandago, said he found the actress guilty on all counts against her. The actress had in a viral video, accused Isa of being a homosexual, a bastard and an unrepentant womaniser. The judge further ruled that in case Haruna continued to defame Isa, she would be sentenced to three years in prison.
Source:Punch
February 08, 2022 01:50 UTC
Hushpuppi: FG, US discussing extradition of Abba Kyari, says Malami
Malami spoke on Monday while featuring on Channels Television’s ‘Politics Today’ programme monitored by The PUNCH. The Nigeria Police Force had probed Kyari and transmitted its findings to Malami for “legal opinion”. Commenting on the case on Monday, Malami said, “It is an issue that has international and national dimensions. The United States Attorney’s Office at the Central District of California had ordered the FBI to arrest Kyari almost a year ago. Kyari had taken to Facebook on July 29, 2021, to deny the allegations, but he later deleted the post after editing it about 12 times.
Source:Punch
February 08, 2022 01:22 UTC
We’ve resolved issues with diesel supplier, Petrocam — Primero
A private bus rapid transit in Lagos, Primero Transport Service, has restated that it had long resolved its issues with the supplier, Petrocam Trading Nigeria Limited. The company said this while responding to a story titled “Unpaid Debt: Fuel Supplier Asks Court to Halt Lagos BRTOperations,” in a statement issued exclusively to Tribune Online on Monday evening. It said the alleged aggrieved diesel supplier is still supplying diesel for Primero operations across Lagos State weekly as of today. “The alleged aggrieved diesel supplier, Petrocam Trading Nigeria Limited is still supplying diesel for Primero operations across Lagos State weekly as of today.”It, therefore, urged Nigerian media professionals to understand that it is prejudicial to give details of a matter pending in court to the public. “It is prejudicial to give details of a matter pending in court to the public.
Source:Nigerian Tribune
February 08, 2022 00:32 UTC
How We Caught Access Bank’s Account Hacker, Chris Ihebuzo — EFCC (Photo)
How we apprehended Access Bank’s account hacker — EFCCAn investigator with the Economic and Financial Crimes Commission (EFCC) Ms Adewunmi Omotosho on Monday told an Ikeja Special Offences Court how alleged Access Bank hacker, Chris Ihebuzo was apprehended by the anti-graft agency. The EFCC investigator further told the court that after his arrest, the defendant volunteered his statement to the commission under caution. NAN reports that Ihebuzo is facing a seven-count charge of stealing, demanding property by written threats, attempting to obtain property by false pretence and unauthorised access to computer material. Other charges are: unauthorised access with intent to commit and facilitate the commission of further offences and unauthorised modification of computer materials. The defendant had claimed that he had in his possession, Access Bank Public Liability Company’s documents, containing the phone numbers, bank accounts, NIN numbers, and Biometrics Verification Numbers (BVN) of the bank’s customers.
Source:The Guardian
February 07, 2022 23:24 UTC
Indonesia bus crash kills 13, injures dozens | The Guardian Nigeria News - Nigeria and World News
At least 13 people were killed and dozens more injured after a tour bus carrying factory workers to a beach holiday crashed on Indonesia’s Java island, according to police. Some died on the scene and others died while being treated in the hospital, while 34 others were injured,” Ihsan said, adding the injured had been taken to three nearby hospitals. Shortly before the crash, passengers had been asked to temporarily disembark, as the bus was having difficulty going uphill, Ihsan said. In March last year, a bus carrying dozens of pilgrims plunged into a deep ravine in Sumedang, West Java province, killing 29 people. In late 2019, at least 35 people were killed when a bus plunged into a ravine on the island of Sumatra.
Source:The Guardian
February 07, 2022 21:33 UTC
The long list of legal cases against Donald Trump
Former president Donald Trump is facing a total of 19 legal actions – about half of which allege improper conduct during his presidency. Most of the cases fall under three themes: financial wrongdoings that made him more money; his role in the January 6 2021 insurrection; and his alleged interference in the 2020 election. Trump has denied wrongdoing in most of these cases. He has filed motions to dismiss several of them and has filed countersuits in some cases. Here are all the legal cases as of 1 February 2022:
Source:The Guardian
February 07, 2022 21:18 UTC
How we apprehended Access Bank’s account hacker — EFCC | The Guardian Nigeria News - Nigeria and World News
An investigator with the Economic and Financial Crimes Commission (EFCC) Ms Adewunmi Omotosho on Monday told an Ikeja Special Offences Court how alleged Access Bank hacker, Chris Ihebuzo was apprehended by the anti-graft agency. The EFCC investigator further told the court that after his arrest, the defendant volunteered his statement to the commission under caution. NAN reports that Ihebuzo is facing a seven-count charge of stealing, demanding property by written threats, attempting to obtain property by false pretence and unauthorised access to computer material. Other charges are: unauthorised access with intent to commit and facilitate the commission of further offences and unauthorised modification of computer materials. The defendant had claimed that he had in his possession, Access Bank Public Liability Company’s documents, containing the phone numbers, bank accounts, NIN numbers, and Biometrics Verification Numbers (BVN) of the bank’s customers.
Source:The Guardian
February 07, 2022 20:49 UTC
Winter Olympics: Cancer survivor Parrot soars to slopestyle gold
Cancer survivor Max Parrot of Canada capped a remarkable comeback on Monday when he won gold in the men’s snowboard slopestyle at the Beijing Olympics. Parrot, who said chemotherapy left him “at zero percent” when he was diagnosed with Hodgkin lymphoma in 2018, beat Chinese home favourite Su Yiming to win gold with a score of 90.96. Parrot, the silver medallist at the 2018 Pyeongchang Games, wrapped himself in a Canadian flag and held his board aloft in celebration after the result was confirmed. The 17-year-old Su claimed silver on 88.70 points, giving China its first ever medal in men’s snowboarding. Another Canadian, Mark McMorris, took the bronze with 88.53 points, edging out American defending champion Red Gerard on his final run.
Source:Punch
February 07, 2022 18:21 UTC
Troops foil attack, rescue seven persons in Kaduna
The security forces exploited the withdrawal route of the bandits and were thus able to rescue seven persons who had been kidnapped. The seven rescued persons according to the statement are Buba Samuel, Janet Buba, Rebecca Buba Precious Buba, David Yohanna Johnson Yohanna and John Daniel. “Receiving the report, Governor Nasir El-Rufa’i commended the security forces for their spirited efforts and speed of response. The governor also conveyed his warm regards and best wishes to the rescued persons. Troops foil attack, rescue seven persons in Kaduna
Source:Nigerian Tribune
February 07, 2022 17:13 UTC
Bandits kidnap Catholic priest, kill cook in Kaduna | The Guardian Nigeria News - Nigeria and World News
A Catholic parish located in Chawai, in the Kauru Local Government Area of Kaduna State was attacked onSunday night by gunmen,The parish priest was kidnapped and his aide allegedly. Rev Fr Joseph Shekari was kidnapped but the terrorists didn’t spare the life of a yet-to-be-identified cook working in the parish house who was allegedly killed during the attack. Emanuel Okolo, who confirmed the development, he said “It is with great pain that we announce to you the kidnapping of our Priest, Rev. “While we solicit for intense prayer for his quick and safe release, we equallywish to call on all and sundry to refrain from taking the laws into their hands. “We will use every legitimate means to ensure his quick and safe release.
Source:The Guardian
February 07, 2022 14:29 UTC