MTN Nigeria Listing Boosts Stock Market by N1.8trillion – Thisday Online
The eight-day bearish trend at the stock market was halted Thursday, following the successful listing of MTN Nigeria Communications Plc’s shares on the Nigerian Stock Exchange (NSE). The listing of 20.4 billion shares of MTN at N90 per share lifted the market capitalisation of exchange by N1.8 trillion to close the day at N12.5 trillion. Similarly, the Nigerian Stock Exchange All-Share Index (NSE ASI), rose by 0.54 per cent to close at 28.438.19.Commenting on the listing the Chief Executive Officer of NSE, Mr. Oscar Onyema, said: “We are delighted to welcome MTN Nigeria to the exchange. Today’s listing is a promising development in the country’s telecommunications sector and we encourage other players in the sector to explore the different opportunities in the capital markets for raising long term capital. “As a listing platform of choice, today’s listing will add to our bouquet of diverse investment offerings to the public. Having MTN Nigeria listed in our market is a testament of the exchange’s commitment to building a dynamic and inclusive market and creating channels for sustainable investment.
Seplat Promises Increased Returns As Shareholders Get N10.6bn Dividend – Punch Online
Shareholders of Seplat Petroleum Development Company Plc have received $0.05 (N18) dividend per share for the 2018financial year, amounting to N10.6bn. The company, which posted a N73bn profit for 2018, gave an assurance to grow production, drive increased shareholder yield and capital appreciation. The company reiterated its commitment to stronger growth in the oil and gas sector as it held its sixth Annual General Meeting in Lagos on Thursday. Seplat also announced N228bn revenue in its full-year 2018 financial result, representing an increase of 65 per cent from the N137bn recorded in 2017. Seplat, listed on both the Nigerian Stock Exchange and the London Stock Exchange, also recorded N73bn profit before tax, indicating a 480 per cent increase from N13bn reported in the same period in 2017. The Chairman, Seplat, Dr Ambrosie Orjiako, said the company’s2018 operational and financial performance reflected the significantly higher year-on-year levels of production uptime at its core oil-producing assets combined with a firmer, albeit still volatile, oil price and increased contribution from the company’s gasbusiness.
Ecobank Launches Waste Recycling Initiative, Offers Cash To Lagos Residents
Ecobank Nigeria has announced that residents in Lagos should take used plastic materials, especially soft drink and water bottles amongst others to Lagos State Sewage Treatment Plant in Amuwo Odofin, Lagos and exchange them for cash being part of activities of the bank’s sustainability week that started Monday and will run till Friday the 17th, May. In a media message, the bank stated that it targets to remove at least four million used plastic bottles from the streets and drains of Lagos through this initiative. Other activities lined up for the week include a symposium for secondary school students in Lagos, Abuja and Port-Harcourt to teach the students lifestyles that exemplifies and encourages sustainability of sustainability activities are part of the universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.
Sterling Bank expresses commitment to skills development – Punch Online
Sterling Bank Plc, has reiterated its commitment to developing skills among the youths in the country. In a statement on Thursday, the bank said that for the second year, it supported iCreate Africa; an advocate of vocational skills development in Africa, to host iCreate Skills festival following its successful debut in Abuja last year. The bank said this year, the event held in different cities across Nigeria including Kaduna, Enugu and Lagos. It stated that the Kaduna regional competition which held recently featured over 80 competitors across Nigeria’s northern states. The bank said the competition focused on 15 skill categories such as bricklaying, tiling, tailoring, shoe making, plumbing and web development, among others. While representing Sterling Bank at the event, the Head of Public Relations, Adeola Adejokun, stated, “This is our second year of supporting iCreate Skills festival because the future of the country is in jobs and there is need to do all that is necessary to create jobs in various sectors of the economy. “This explains the bank’s intervention in areas and sectors that have the potential to create jobs thereby ensuring a future of shared prosperity for all Nigerians.”
Access Bank Targets 100,000 Subscribers for XclusivePlus – Guardian Online
Access Bank Plc said it is targeting about 100,000 subscribers in its XclusivePlus platform, a premium subscription lifestyle, which was launched last year, to offer clients with exceptional services and exclusive privileges that would impact the lives of the customers by December. Speaking in Lagos, recently, the Head, Consumer Proposition, Access Bank Plc, Dolapo Orelaja, who believes the target would be exceeded given its recent merger with defunct Diamond Bank, said the plan is part of the bank’s commitment to render exceptional services to its customers. She said Access Bank had conducted a survey on customers’ need, and discovered a rise in spending on luxury travel and products, which led to the introduction of the product. The XclusivePlus, which currently have about 11,000 subscribers, will therefore enable customers have access to about 800 premium lounges globally, 36 exclusive lounges within Nigeria, located in branches and at the airport as well as free multi-trade travel insurance, medical assistance and free movie tickets monthly and quarterly.
FG, Stanbic IBTC, Standard Bank Discuss Solid Minerals Financing – Vanguard Online
The Federal Government on Thursday opened talks with a team of bankers from the Stanbic IBTC and Standard Bank, South Africa, on financing investments in iron ore and coal processing. Minister of State for Mines and Steel Development, Mr Bawa Bwari, told the bankers led by Global Sector Head, Mining and Metals Client Coverage at Standard Bank, Mark Buncombe, that the country was ripe for substantial investment in the mining sector. The delegation was in Nigeria on behalf of its client, African Natural Resources and Mines Limited, which has steel plants in the country and recently found iron ore which it intends to exploit to feed the steel plants. Bwari urged the bankers to go beyond their relationship with African Natural Resources and Mines Limited and play in the country’s solid minerals sector, adding that there were other operators in the sector that were in need of finance. He said, “Today, we have the African Natural Resources and Mines, your client, who discovered iron ore in Kadarko, Kaduna State and they want to develop it to feed the seven steel plants they have in Nigeria. “They also want to build a coal plant. It is a company we are proud of and will work even more closely with it following your visit.”
SEC warns Nigerians against new Ponzi scheme – Punch Online
The Securities and Exchange Commission has raised the alarm over the activities of some online fraudsters, who are currently running an online investment scheme, tagged ‘Loom Money Nigeria’. Loom Money Nigeria is taking over social media by luring young people to participate in a pyramid scheme. The acting Director-General, SEC, Ms Mary Uduk, while speaking during a press conference in Abuja on Thursday, gave the warning, saying Ponzi scheme investors were at risk. Uduk, who was represented by the acting Executive Commissioner, Operations, SEC, Mr Isyaku Tilde, said the fraudsters carried out their illegitimatebusiness activities via social media platforms like Facebook and WhatsApp, luring young Nigerians to invest as low as N1,000 and N13,000 and get as much as eight times the value of the investment in 48 hours. Uduk said the venture had no tangible business model, describing it as a Ponzi scheme where returns would be paid from other people’s invested funds. She said, “We are aware of the activities of an online investment scheme tagged ‘Loom Money Nigeria’. The platform has embarked on an aggressive online media campaign on Facebook and WhatsApp to lure the investing public to participate by joining various Loom WhatsApp groups. “Unlike MMM that had a website and the promoter known, the people promoting Loom are not yet known and this pyramid scheme operates through closed groups mainly on Facebook and WhatsApp.
CEOs Call for Tougher Regulations, Stronger Banks – Thisday Online
With the confirmation of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, for a second and final five-year term, by the Senate yesterday, some chief executive officers of financial institutions have hailed his reappointment and urged him to work towards having tougher regulations and stronger banks in the country. The chief executives, who spoke in separate interviews with THISDAY, said with tougher regulatory environment, the banks would scale up their services. The CEO, Cowry Assets Management Limited, Mr. Johnson Chukwu, advised Emefiele to ensure that the central bank is more decisivein resolving banking crisis, to avoid any form of contagion effect. “In terms of banking supervision and regulation, I want to see a situation whereby the central bank is more decisive in resolving banking crisis, such that when it becomes imperative that a particular weak institution should be allowed to exit the market, I believe the CBN should be decisive. But in all, we expect to see stronger regulation,” Chukwu explained.
70% of Nigerians Ready To Pay Tax —NESG – Punch Online
The Nigeria Economic Summit Group (NESG) has said that about 70 per cent of Nigerians believe that it is not wrong to pay tax. The NESG disclosed this during its Fiscal Policy Roundtable event in Lagos, while launching its Citizen Perception Report, a research advocating better tax system in the country. The Fiscal Policy Roundtable co-chair, NESG, Dr Doyin Salami, said the government had been unable to meet recurrent and capital expenditures following a budget deficit of N3.8bn and debt profile of N22.7bn. While mentioning some findings in the Citizens Perceptions Report, he said that, “Over 70 per cent of Nigerians believed that it is not wrong to pay taxes. This sentiment is fuelled by the issues around the social contract between the government and the citizenry.” Salami, who was represented by the PWC West Africa Tax Leader and Research Director, NESG Fiscal Policy Roundtable, Mr Taiwo Oyedele said, “Low tax compliance results from tax complexity, crisis of trust in the government and inadequate social contract deliverables; while tax officials were constrained by inconsistent tax policies, limited resources, unrealistic targets, and inability to influence service delivery, among others.”
BDC Rates – BusinessDay, Page 1
Stock Market Report – May 15
ALL SHARE INDEX 28,286.08
EQUITY CAP N10,626,801,926,981.12
BOND CAP N10,822,745,208,686.90
ETF CAP N5,937,935,147.89
Paris Club Refund: FG Set To Pay N649bn Final Tranche To States – Punch Online
The Federal Government will soon release the sum of N649.43bn as the final refund for the Paris Club debt to state governments. The Minister of Finance, Mrs Zainab Ahmed, gave the figure on Thursday in Abuja during a media briefing on the activities of her ministry. Those present at the media briefing were the Comptroller-General of Customs, Hameed Ali; the Director-General, Debt Management Office, Patience Oniha; the Managing Director, Asset Management Corporation of Nigeria, and the Director-General of the Securities and Exchange Commission. The finance minister said the amount had already been verified by the ministry as the outstanding balance to be refunded to the state governments. Ahmed said the refund would be made to the state governments in due course. She said, “For the final phase of the Paris Club debts refunds, the total sum of N649.434bn wasverified by the ministry as the outstanding balance to be refunded to the state governments.
Lawmakers Pass Bill Banning NaijaBet, NairaBet in Bauchi
The Bauchi State House of Assembly has passed a bill banning all forms of gambling, ownership and operations of gaming machines including NaijaBet and BetNaija, in the state. The member representing Lere/Bula constituency, Aminu Tukur, who spoke to journalists after the House sitting in Bauchi on Thursday, said, “The bill seeks to ban all forms of gambling and its operations in the state.” He said the bill, which was co-sponsored by 10 other members, should be cited as Gambling and Gaming Machines Prohibition Law of the state. Those who sponsored the bill were the Speaker of the House, Kawuwa Damina(Darazo), Maryam Bagel (Dass), Salisu Ajilanga (Gamawa), Ibrahim Hassan (Duguri), Yusuf Dadiye, Yusuf Nuhu (Ganjuwa), Idris Idris (Dambam), Abdullahi Abdulkadir (Bura), Garba Musa (Sakwa) and Markus Makama (Bogoro). Tukur said, “The bill passed the first, second reading and third readings instantly on the floor of the house because the honourable members of the house look at its importance. “The bill will ensure that gambling is not only banned but will also sanitise the morality of our youth and children.” According to him, both Islam and Christianity do not encourage or support gambling which is a waste of funds and encourages immorality in the society.
Boko Haram Crisis Led To 20,000 Deaths In Nine Years —WHO – Punch Online
The World Health Organisation has lamented that the Boko Haram crisis has led to over 20,000 deaths in nine years. The United Nations’ organ in its 2018 Annual Report released this week said, “The ongoing crisis in North-East Nigeria has led to over 20,000 deaths in the past nine years.” WHO also lamented that health systems were disrupted in the troubled geopolitical zone, adding that it was difficult to cope with the upsurge of treatable ailments. It also revealed that the decade-old crisis led to increased frequency of disease outbreaks in the North-East. WHO said in spite of the difficult environment, it had been able to provide technical leadership, coordinate health sector partners and increase access to quality health services. It also said that two million IDPs and host community members were vaccinated against yellow fever in Borno State alone. It also said 200,000 children were treated for common childhood illnesses, including malaria, pneumonia and diarrhoea. Meanwhile, WHO on Thursday concluded a three-day workshop on Health Reporting During Emergencies for over 40 journalists selected from Borno, Adamawa and Yobe states. At the capacity building workshop held in Yola, Adamawa State, the media practitioners were taught topics including Basic Facts on Diseases of Public Health Importance in Emergencies and Redefining the Roles of Mass Media during Health Emergencies.
Cybercrime Suspects Unleash Dog On EFCC Operatives – Punch Online
Detectives from the Economic and Financial Crimes Commission, Ibadan zonal office, were shocked on Wednesday when suspected Internet fraudsters unleashed a dog on them in order to prevent their arrest. An EFCC official told PUNCH Metro on Thursday, “Upon the receipt of intelligence reports and the launch of preliminary investigations into their alleged illegal activities, officers of the commission stormed the suspects’ hideout at the Agara area of Ibadan in the early hours of Wednesday. “But instead of allowing the detectives in after proper introduction, one of the suspects instructed the guard to release the dog to attack the men. “The trick, however, failed. It rather tasked the detectives to display their dexterity and professionalism. They were able to dislodge the dangerous dog, carry out extensive search on the apartment and arrest the suspects. “Again, out of desperation to conceal useful information that could help the commission in its investigation, one of the suspects smashed his android phone with the intention to destroy the gadget and deny access to the data therein.
Man Who Suffered Electric Shock Transferred To LASUTH – Guardian Online
An employee of Ikeja Electric (IE) distribution company, Azeez Ojikutu, who had a part of his body severed while working in Ikorodu, has been transferred from Ikorodu General Hospital to the Lagos State University Teaching Hospital (LASUTH). Debunking the news that the man had died, the head, Corporate Communications of the firm, Felix Ofulue, in a statement yesterday said: “Preliminary investigation revealed that on May 15, at 11:40a.m., a member of our technical crew from Ikorodu Business Unit, Azeez Ojikutu, received electric shock and sustained severe burns while carrying out re-conductoring repairs on WAEC 11kv feeder. “His right hand was cut off and he was rushed to Ikorodu General Hospital for immediate medical attention. He is currently receiving adequate treatment at the Lagos State University Teaching Hospital (LASUTH),” noting that earlier report, which said the accident happened while he was on a disconnection exercise, was not true.
Gunmen kidnap Five Oil Workers In Rivers – Punch Online
Five oil workers have been abducted by a group of gunmen, who invaded an operation site of an indigenous oil firm, Belemaoil, in the Akuku-Toru Local Government Area of Rivers State. The gunmen had accosted their victims while they were working on an oil installation on the high sea before whisking them away in a speedboat. A statement by the Public Relations Department of Belema Oil Producing Limited indicated that the workers were seized within the OML 55 operational area of the oil firm in Akuku-Toru. According to the statement, the workers, who are contractors to Belemaoil, are personnel of Integrated Data Services Limited, a subsidiary of the Nigerian National Petroleum Corporation, and a subsidiary of the China National Petroleum Corporation simply called BGP. The statement read in part, “Report says five oil workers have been kidnapped by unknown gunmen within the OML-55 operational area of an indigenous oil company, Belemaoil Producing Limited, in the Akuku-Toru Local Government Area of Rivers State. “The oil workers are personnel of a subsidiary of the NNPC, Integrated Data Services Limited, and a subsidiary of the China National Petroleum Corporation, BGP, who are contractors of Belemaoil.
Orphanage Home’s Matron, Others Nabbed Over Alleged Child-Trafficking In Delta, Oyo – Guardian Online
Policemen from the Warri area command in Delta State have arrested three suspects over the alleged child trafficking of a two-and-half-year-old baby girl.
Those arrested included, the matron of Divine Orphanage Home, Rosemary Johnson and Madam Rose IIogbo in Ughelli. The third person was a lady, who allegedly bought the child for N850,000 from Johnson and Ilogbo. The arrest followed a petition by the president of Nigerian Child Welfare Fund, Comrade Joshua Omorere. Acting on the petition, detectives swung into action and arrested the suspects. The police also uncovered a baby-making factory in Agbor during the arrest. IIogbo claimed she sold the child to one lady who had gone through adoption process in Ughelli. She also confessed that the matron of Divine Home Orphanage gave her another child to sell for N850,000 but people that were interested were offering N800,000, stressing that the matron of Divine Orphanage insisted it must be N850,000. Meanwhile, a 50-year-old woman, Idowu Ademola, who allegedly specialized in trafficking foreigners for domestic services across the country, has been arrested by operatives of the Inspector General Police Intelligence Response Team (IRT), in Ibadan, Oyo State.
Ilerika Promises Future Stars for Eagles – Thisday Online
Head Coach of the U15 National Team, Future Eagles, Haruna Ilerika has said that the focus of the Nigeria Football Federation and the technical crew of the team is to build a formidable youth football system with the project. “For any country, football development is the key. The advanced countries have taken youth football development serious for decades and I am happy the NFF has also embraced the youth development. We look forward to building the stars of the future from this level, it’s a laudable project and we have started reaping the gains gradually with the progression of some the boys into the recent Golden Eaglets team. Kelechi Iheanacho passed through this stage in 2010 and in 2018 he featured at the FIFA World Cup. We have set our target at grooming the boys for a positive transition and progression,” Ilerika said last night. The Future Eagles are currently camping in Sagamu, Ogun State ahead of an Eight-Nation U16 Invitational Tournament in Japan next month. “The camp has been good; the boys are responding positively. The boys understand that the moment they are in camp, they must stay focused. We are here for business. We have been building team chemistry and character and bonding has been great.
Barcelona Bid To Continue Season Of Change In Champions League Final Against Lyon – Vanguard Online
Barcelona discussed staging their women’s Champions League semi-final last month at Camp Nou, according to the club’s vice president Jordi Mestre. Barcelona Barcelona’s Chilean midfielder Arturo Vidal celebrates with Barcelona’s Argentinian forward Lionel Messi (L) after scoring a goal during the Spanish League football match between Barcelona and Getafe at the Camp Nou Stadium in Barcelona on May 12, 2019. (Photo by Josep LAGO / AFP) Barca’s women will play in their first ever Champions League final in Budapest on Saturday as they attempt to spring a surprise on five-time champions Lyon. This has been a season for change in women’s football, after a European record crowd of 60,739 watched Barca play Atletico Madrid at the Wanda Metropolitano in March.
Yaya Toure On Trial At Second-Tier Chinese Club Qingdao – Punch Online
Former Barcelona and Manchester City midfielder Yaya Toure has landed in China on a trial with second-tier Qingdao Huanghai, the club told AFP on Friday. The 36-year-old has been without a team since December after an unsuccessful three-month spell at Olympiakos in Greece. There were suggestions that the former Ivory Coast international had retired, but he denied that earlier this week and said he wanted to keep playing “for a few more years”. It appears that his swansong could now be a sojourn in eastern China at Qingdao, who are top of the second-tier China League One and play in Barcelona colours. Toure was pictured on Thursday arriving at the city’s airport and British media said that he was poised to sign. But a Qingdao Huanghai press official told AFP such reports were wide of the mark.
Man City Target Landmark Treble As UEFA Probe Looms – Vanguard Online
Manchester City are on the brink of a domestic treble, with only Watford standing in their way in Saturday’s FA Cup final, but a potentially historic season risks being overshadowed by several probes into the club’s off-field conduct. Premier League Manchester City’s Spanish manager Pep Guardiola holds up the Premier League trophy as he’s surrounded by his staff after their 4-1 victory in the English Premier League football match between Brighton and Hove Albion and Manchester City at the American Express Community Stadium in Brighton, southern England on May 12, 2019. – Manchester City held off a titanicchallenge from Liverpool to become the first side in a decade to retain the Premier League on Sunday by coming from behind to beat Brighton 4-1 on Sunday. (Photo AFP) City became the first side in a decade to retain the Premier League title last weekend, holding off Liverpool by a single point at the end of a thrilling race thanks to a run of 14 consecutive league wins to end the season.
Ailing Christian Chukwu Arrives London for Treatment – Thisday Online
Ailing former Green Eagles Captain, Christian Chukwu, arrived United Kingdom in company with his wife Lilian Nkeiruka, Thursday for medical treatment. Chukwu, who captained Nigeria’s senior national team to win the Africa Cup of Nations for the first time in 1980, travelled with his wife aboard a Virgin Atlantic airline flight from Lagos. President of the Nigeria Football Federation (NFF), Amaju Melvin Pinnick, who arranged for an appointment for the Nigerian legend with a reknown cardiologist in London was on hand to receive Chukwu.