The nation’s bourse on Wednesday shed its gaining streak due to sell pressure in large capitalised stocks as the All-Share Index recorded the first loss in seven consecutive trading sessions. Consequently, the All-Share Index lost 90.80 points or 0.26 per cent to close at 35,056.82 against 35,147.62 recorded on Tuesday. Also, the market capitalisation which opened at N18.364 trillion dipped N42 billion to close at N18.322 trillion. The downtrend was driven by price depreciation in medium and large capitalised stocks including Nigerian Breweries, Chemical and Allied Products, Guaranty Trust Bank, Northern Nigeria Flour Mills (NNFM) and Flour Mills. Market sentiment…
Author: Editor
An Abuja High Court on Wednesday dismissed a N2.5 billion fraud case preferred against Mr Emmanuel Agati, Plateau finance commissioner when Sen Joshua Dariye was governor of the north-central state. Also discharged and acquitted were three other respondents in the 14-year-old case – Messrs Sham Damisa, Nuhu Madaki and Silas Vongbut, former Accountant General, Director of Treasury and Deputy Director, Inspectorate, respectively. Justice Adebukola Banjoko of Court V, Jabi who discharged and acquitted the quartet, said that the case lacked proof of evidence. The Economic and Financial Crimes Commission (EFCC) had charged the accused with criminal conspiracy, breach of trust…
The Federal Inland Revenue Service (FIRS) says the window of opportunity for waivers of penalties and interest on outstanding taxes arising from desk examinations and audit exercises will close on Dec. 31. Mr Abdullahi Ahmad, Director, Communications and Liaison Department of the FIRS, made this known in a statement in Abuja on Wednesday. Ahmad urged taxpayers in the country to take advantage of the remaining days to settle their tax obligations in order to enjoy all subsisting waivers offered thereof by the service. He said the Executive Chairman of the FIRS, Mr Muhammad Nami, had already issued a reminder in…
Russian President, Vladimir Putin on Wednesday issued an order for health authorities to begin providing mass vaccinations against the novel coronavirus to doctors and teachers. Russia has already produced about 2 million doses of a state developed vaccine against the virus, Putin said in comments carried by state media. “Let’s agree that next week you will begin the large-scale vaccination,’’ Putin told the Deputy Prime Minister in charge of health issues, Tatyana Golikova, via a video chat. Russia was the first country to introduce a vaccine against the virus for widespread use, registering the Sputnik V vaccine in August. The…
The Federal government has said that it will sanction any electricity distribution company or its representatives selling meters or asking Nigerians to pay money to get the item. The Special Adviser to the President on Infrastructure, Mr Ahmed Zakari, gave the warning at a stakeholders’ engagement on electricity tariff, organised by the FGN/NLC-TUC Ad-hoc Committee. “We have made it clear through the regulator’s direct order as well as the intervention from the Ministry of Power that these meters are to be provided to Nigerians at no cost. “Even for meters that will be paid for through the MAP, there is…
President Muhammadu Buhari has bowed to the House of Representatives and agreed to address it on the security challenges facing several parts of the country. The Speaker, Femi Gbajabiamila disclosed this to State House correspondents after meeting Buhari at the Presidential Villa on Wednesday. Recall that the House on Tuesday, resolved to invite Buhari to address lawmakers on efforts being made to address the security challenges in parts of the country. “We came to see the President on developments in the country. He was so willing to listen as typical of the President, the usual democrat that he is. “What…
Governor Dapo Abiodun of Ogun, on Wednesday, presented a budget proposal of N339 billion for the 2021 fiscal year to the state House of Assembly, with N177 billion earmarked for capital expenditure. The budget, christened “Budget of Recovery and Sustainability,” also has N162 billion proposed for recurrent expenditure. The governor said that an estimated N119 billion was projected as internally-generated revenue for the state, with statutory allocation expected to be N59 billion. He stated that capital receipt, which included internal and external loans as well as grants and aids, stood at N142 billion. The governor stated that personnel cost remained…
A faction of the People’s Democratic Party (PDP) in Kano State has expressed readiness to participate in the forthcoming Local Government elections in the State scheduled for January 2021. The state Interim Chairman of the faction, Muhammina Lamido, announced this while briefing newsmen on Wednesday in Kano. On Tuesday the Kwankwasiyya faction of the PDP addressed newsmen that they will not partake in the forthcoming election. According to Lamido, “the attention of the PDP interim administrative committee in Kano State has been drawn to a media statement accredited to one Danladi Abdulhamid that the PDP in Kano State does not have…
… Says northeast shortchanged The governor of Borno state, Professor Babagana Zulum has listed six recommendations for consideration by President Muhammadu Buhari in response to the lingering Boko Haram crisis in the northeast. Zulum handed the made the observation when presidential delegation led by the President of the Senate, Dr. Ahmed Lawan visited him on Tuesday in Maiduguri. The delegation was in Borno on behalf of President Muhammadu Buhari and the Federal government, to commiserate and identify with the family of the victims, the government and the people of Borno state over the incident. Zulum said the following six key…
Kyiv’s Olympic Stadium was the scene of Zinedine Zidane’s last stand as Real Madrid coach before resigning in stunning fashion in May 2018, and the arena could spell the start of the end for his second tenure after Tuesday’s defeat by Shakhtar Donetsk. The 2-0 loss left Madrid potentially staring at an exit from the Champions League group stage for the first time, but even if they manage to beat Borussia Moenchengladbach next week and progress, it might not be enough to save Zidane. Zidane shocked the football world by quitting as Madrid coach after winning a third successive Champions…