NEWS
Breaking: NGX Issues Results of Full Year Market Indices
The Nigerian Exchange Limited (NGX), has announced the results of its full-year market index review.
In an electronically transmitted statement to Biztellers, on Tuesday, the report was set out in the following indices – the NGX 30, NGX Lotus Islamic, NGX Pension, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, Meristem Value Index; and the five Sectoral Indices of The Exchange – NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods and NGX Oil & Gas.
Signed by Head, Marketing and Corporate Communications, NGX, Clifford Akpolo, it averred in part, “The review has led to the entry and exit of some companies from several indices that took effect at the opening of the market on Tuesday, January 3, 2023.
“Listed below are the incoming and exiting companies in the various indices:
Indices Title Incoming Exiting
NGX 30 Index • BUA Foods • Oando
• Wema Bank Plc • UBn Plc
NGX Consumer Goods Index • None • None
NGX Banking Index • None • None
NGX Ins Index • None • African Alliance Ins
NGX Industrial Index • None • None
NGX Oil & Gas Index • MRS Oil Plc • Oando Nig Plc
NGX Pension Index • Airtel Africa Plc
• BAU Foods Plc • Honeywell Plc
• Conoil Plc
NGX Lotus Islamic Index
• CAP Plc • NAHCO Nigeria Plc
• NASCON Nigeria Plc
• Presco Plc
Corporate Governance Index • Berger Paints Plc • None
Afrinvest Bank Value Index • None • Fidelity Bank Plc
.
Afrinvest Div Yield Index • None • University Press Plc
• Access Holdings Plc
Meristem Growth Index • FIDSON Plc
• Nigeria Breweries Plc
• Sterling Bank Plc • Dangote Cement Plc
• Eterna Plc
• Glaxo Smithkline Con. Plc
• Seplat Energy Plc
• Guaranty Trust Holding Co. Plc
Meristem Value Index • Access Holding Plc
• Glaxo Smithkline Con. Plc
• May & Baker Nig. Plc
• LAFARGE Africa Plc • None
“The indices were developed to allow investors track market movements and properly manage investment portfolios. Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July.
“The Nigerian bourse began publishing the NGX 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NGX developed five sectoral indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors. The sectoral indices comprise the top fifteen most capitalised and liquid companies in the Insurance and Consumer Goods sectors; the top ten most capitalised and liquid companies in the Banking and Industrial Goods sector; and the top seven most capitalised and liquid companies in the Oil & Gas sector.
“In July 2012, the Nigerian bourse launched The NGX Lotus Islamic Index (NGX LII) which consists of companies whose business practices are in conformity with Shari’ah Investment Principles, with the aim of increasing the breadth of the market and creating an important benchmark for investments as the alternative ethical and noninterest investment space widened. The companies that appear on the Islamic Index have been thoroughly screened by Lotus Capital Halal Investment, in accordance with a methodology approved by an internationally recognised Shari’ah Advisory Board comprising of renowned Islamic scholars.”
NEWS
Kano Businessman’s Daughter Kidnapped After ₦8m Ransom Payment
In a shocking incident on Sunday morning, unknown gunmen suspected to be kidnappers invaded the home of Alhaji Auwal, a prominent businessman, in Garo Town, Kabo Local Government Area of Kano State.
The gunmen, estimated to be around 10 in number, forced their way into the residence, breaking down a door to gain entry.
An anonymous source revealed that the attackers were heavily armed, with three carrying firearms and the rest wielding other weapons.
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They quickly gathered the entire family in one room, instilling fear and panic in the household.
According to the source, Alhaji Auwal pleaded with the assailants to spare his family and agreed to meet their demands.
The kidnappers, who were determined to extort money, received ₦8 million from the family.
Despite this payment, the gunmen took the businessman’s eldest daughter, Zainab, a secondary school graduate, before fleeing the scene.
The whereabouts of Zainab remain unknown, and as of now, the kidnappers have not contacted the family.
This abduction comes just 48 hours after the tragic kidnapping and subsequent murder of former Gombe State Permanent Secretary, Atiku Mu’azu, who was killed by gunmen after a ₦10 million ransom was paid.
The two incidents have left the residents of Kano in shock and fear, prompting calls for increased security measures in the area.
Attempts to reach the spokesperson for the Kano Police Command, SP Abdullahi Haruna, for comment were unsuccessful as his phone remained unreachable.
Authorities have yet to make any official statements regarding the investigation.
International News
Colombia Blocks US Deportation Flights Over Migrant Treatment
In a bold move, Colombian President Gustavo Petro declared on Sunday that he would not allow US deportation flights carrying Colombian migrants to access his country’s airspace.
The left-wing leader took to X (formerly Twitter) to express his strong stance, stating, “The United States cannot treat Colombian migrants as criminals. I forbid entry to our territory to US planes carrying Colombian migrants.”
Petro made it clear that such flights would only be accepted once Washington established a protocol to ensure the “dignified treatment” of deported migrants.
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The president later confirmed in a separate post that he had already turned back US military planes that were en route with Colombian migrants on board, although he did not provide further specifics on the matter.
While AFP sought confirmation from US authorities regarding the blockade of deportation flights, no immediate response was forthcoming.
Petro’s statements come just a day after Brazil’s government voiced similar outrage over the treatment of deported Brazilians.
Brazil condemned the US administration under President Donald Trump, citing instances where Brazilian migrants were deported while handcuffed on flights, describing it as a “flagrant disregard” for their basic rights.
In his remarks, Petro emphasized that he would be open to allowing civilian US flights to transport deported migrants as long as they were not subjected to treatment “like criminals,” signaling a broader call for humane treatment of migrants under international deportation policies.
NEWS
Four Dead, Many Injured As Explosion Rocks Niger State Mining Site
An explosion at a mining site in Sabon Pegi, Mashegun Local Government Area of Niger State, claimed the lives of four individuals and left several others injured on Sunday morning.
The blast occurred as miners resumed operations, sending shockwaves through the community.
While the exact cause of the explosion remains undetermined, local residents have pointed to the poor handling of explosive devices by mining companies as a possible factor.
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The incident has sparked concerns about safety practices within the mining sector.
Community sources confirmed the recovery of four bodies, but authorities fear the death toll could rise.
Investigations are ongoing to establish the cause of the blast and assess the full extent of the damage.
One resident, Aminu, described the chaos that followed the explosion. “The sound was so loud that many of us thought it came from the hydroelectricity dam nearby. People panicked and ran into the bush for safety,” he recounted.
Another community member highlighted the potential role of mining operations in the tragedy.
“Mining companies here frequently use explosives during their activities, and this seems like an operational issue, not something related to terrorism,” the resident said, dismissing concerns about a security threat in the area.
As of the time of reporting, neither the state government nor security agencies have released an official statement regarding the explosion.