The key market indices of the nation’s bourse on Tuesday rebounded marginally by 0.02 per cent, due to gains posted by 16 stocks. Speficially, the All-Share Index rose by 3.82 points or 0.02 per cent to close at 25,136.49 compared with 25,132.67 achieved on Monday. Also, the market capitalisation grew by two billion or 0.02 per cent to close at N13.112 trillion against N13.110 trillion recorded on Monday. The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Dangote Sugar, Flour Mills, United Bank for Africa (UBA), University Press and Guinness. Consequently, market breadth…
Author: Ayo Oye
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Mr Kevin Amugo, Director, Financial Policy and Regulation, CBN, said Nigerian banks recovered about N50.32 million bad loans from debtors within nine days the country commenced operations of the Global Standing Instruction (GSI). Amugo made the disclosure on Tuesday, at a webinar organised by the Chartered Institute of Bankers of Nigeria (CIBN) Dialogue Series 3.0 in Lagos. The News Agency of Nigeria ( NAN) reports that the discussion had as its theme: Non-Performing Loans and Global Standing Instruction (GSI) Policy: Impact and Insights for Financial Stability. The GSI policy became operational from August 1, 2020, as banks struggled to keep…
Oyo State Government on Tuesday announced a shift in the date for Common Entrance examination into its Schools of Science from Aug. 19 to Sept. 1, 2020. Mr Olasunkanmi Olaleye, Commissioner for Education, Science and Technology, said in a statement that the shift was due to a clash of the examination date with the ongoing West African Senior School Certificate Examination (WASSCE). He said that the students were expected to write Economics and Agricultural Science in the WASSCE timetable at the initial date slated for the common entrance examination. Olaleye stated that the date for the screening test for placement…
GSM operator, 9mobile, on Tuesday said it would create 90 millionaires among its customers during its N100 million Mega Promo to reward their loyalty during this pandemic. Layi Onafowokan, Acting Marketing Director of 9mobile, made the disclosure during the Mega Million Naira Promo Virtual Conference. Onafowokan said that 9mobile would be awarding N1 million to 90 people within the space of 90 days. According to the telecommunications company, 9mobile wants to create 90 millionaires in the space of 90 days. He noted that apart from the cash rewards, the telco would also be awarding over 4000 smart phones to its…
The National Insurance Commision (NAICOM) on Tuesday released guidelines for the payment of Minimum Paid-up Share Capital by insurance and re-insurance companies in compliance with the first phase recapitalistion directive deadline of Dec. 31. Mr Pius Agboola, Director, Policy and Regulations, NAICOM, for the Commissioner of Insurance, said that the guidelines were in furtherance to the commission’s earlier circulars referenced NAICOM/DPR/CIR/25/2019, dated May 20, 2019, July 23, 2019 and December 30,2019 respectively on the subject matter. Agboola said that the minimum paid-up share capital shall be through anyor a combination of either and existing paid-up share capital, cash payment for new…
Tottenham Hotspur have signed Joe Hart on a free transfer, with the former England and Manchester City goalkeeper signing a two-year contract, the English Premier League (EPL) club said on Tuesday. The 33-year-old left Burnley at the expiration of his contract in June, having made three appearances in all competitions last season. That was after he found himself behind compatriot Nick Pope in the pecking order. Hart, who was capped 75 times by England, will compete with first-choice goalkeeper Hugo Lloris and Argentinian Paulo Gazzaniga at Spurs. “We are delighted to announce the signing of Joe Hart on a contract…
Malam Wada Maida, former Editor-in-Chief and Managing Director of the News Agency of Nigeria (NAN), who died in Abuja on Monday, was buried in the federal capital city on Tuesday. NAN reports that the funeral prayer for the deceased was held at the Shagari Jumma’at Mosque in Area I, Garki. The funeral prayer was led by Imam Rabiu Suleiman amidst tears by his family members, friends, associates and the Muslim Ummah. Until his sudden death at 70, Maida was Chairman of the Board of Directors of the News Agency of Nigeria (NAN). Speaking shortly after the funeral, Alhaji Aminu Masari,…
Pre Diagnosis International has commenced a programme of spreading its service base to various parts of the country in the bid to push for greater adoption of innovative telehealth among the country’s vulnerable and underserved communities. The company announced the first of such tactical moves for the North Central and North Western parts of the country in a recent disclosure that the PDI 24/7 Doctors’ Hotline and the PDI Telehealth App have been remodeled to serve the needs of the Northern people in the Hausa language. According to a media statement signed by the Managing Director of PDI, Dr. John…
By Tony Obiechina, Abuja The Federal Government, in fulfilling its promise to effect policies that would eliminate debilitating constraints in the health sector, has commissioned the Nigeria Sovereign Investment Authority (NSIA) – Federal Medical Centre Umuahia (FMCU) Diagnostic Centre in Abia State. This contained in a statement issued in Abuja on Tuesday by Yunusa Tanko Abdullahi, Special Adviser (Media and Communications to the Minister of Finance Budget and National Planning, Mrs Zainab Ahmed. At the combined in-person and virtual) event, Mrs Ahmed said the commissioning was also to acknowledge the modest and laudable strides that government has made through the…
The Buhari administration is making progress tackling the problem of malnutrition in the country through the implementation of various intervention programmes, and increased funding, according to Vice President Yemi Osinbajo, SAN. The Vice President disclosed this on Tuesday at the 2020 Virtual Conference on Nutrition in Nigeria, organized by the Aisha Buhari Foundation in collaboration with development partners. Speaking on the progress made by the Federal Government, the Vice President said though Nigeria has distinct factors that has exacerbated the situation, the Federal Government has in the past few years demonstrated commitment towards addressing the problem through increase budgeting for…