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NGX ASI Surpasses 68,000 Mark With 33% Y-T-D Return

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In a remarkable turn of events, the Nigerian Exchange Limited (NGX) achieved a significant milestone as its All-Share Index (ASI) surged to an unprecedented level of 68,279.14, marking a 1.11 percentage increase.

Biztellers reports that this achievement surpasses the previous record of 66,371.20 points set on March 5, 2008, following a prior all-time high of 66,490.34 points.

A look at the performance of listed stocks shows that the performance was primarily attributed to the remarkable surge in banking stocks, with leading financial institutions such as Zenith Bank and GTCO leading the charge.

Investors strategically positioned themselves to capitalise on the recent impressive earnings reports released by select banks over the weekend. Additionally, the demand for shares in BUA Foods contributed to this positive market sentiment.

As a result of this surge, the market capitalization experienced a notable increase of N411 billion, closing at N37.369 trillion compared to the previous figure of N36.958 trillion.

This remarkable performance pushed the year-to-date (YTD) return to an impressive 33.22 percent.

Despite this overall positive trend, sectoral performance within the market was mixed.

The Banking Index, boasting a significant gain of 5.65 percent, was at the forefront, driven by strong performances from Zenith Bank and GTCO.

Next was the Consumer Goods Index, which posted gains at 1.57 percent, while the Insurance (-2.81 percent) and Industrial Index (-0.14 percent) faced losses.

Meanwhile, the NGX Oil and Gas Index remained stable.

Market activity witnessed a substantial uptick, with trading volume surging by 67.88 percent to 845.680 million units, and the value of stocks traded increased by 88.56 percent to reach N13.03 billion.

This was evident in 11,934 deals, compared to the previous session’s 503.74 million units, N6.91 billion in value, and 7,606 deals.

Notably, Zenith Bank led the activity chart with 75.411 million shares sold, valued at N2.79 billion. GTCO followed closely with the sale of 54.80 million shares worth N2.20 billion, while Dangote Sugar transacted 20.85 million shares valued at N1.38 billion.

Market breadth ended on a positive note, with 38 stocks experiencing gains in value, while 19 stocks saw a decline. Dangote Sugar emerged as the top gainer with an impressive 10 percent increase in stock value.

Conversely, Chip Plc led the group of declining securities, with a 9.57 percent decrease in stock value.

In reaction, financial analysts attribute the strong market performance to recent corporate actions.

They anticipate that investors will continue to selectively invest in fundamentally strong stocks. However, they also acknowledge the possibility of profit-taking activities on stocks that have seen notable appreciation in recent weeks.

Despite these considerations, analysts recommend that investors seek trading opportunities in fundamentally sound stocks, given the ongoing challenges posed by the weak macroeconomic environment on corporate earnings.

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Kano Police Warn Residents Of Imminent Terror Attack Threats

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The Kano State Police Command has warned residents of a potential terror attack, targeting public gatherings in strategic locations across the state.

In a statement issued on Friday, the command’s Public Relations Officer, SP Abdullahi Haruna, disclosed that intelligence reports indicated suspected terrorists were planning to carry out attacks.

“The Kano State Police Command, in liaison with other security agencies, has received intelligence reports of suspected terrorists planning to launch attacks on public gatherings in strategic locations within Kano State.

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“In response, we hereby urge residents to exercise caution and avoid crowded places and environments until further notice as a preventive measure to enable security operatives to identify and dislodge possible attackers,” the statement read.

To address the threat, the police command has enhanced security arrangements across the state. SP Haruna revealed that specialized units, including the Explosive Ordinance Disposal (EOD) and the Chemical, Biological, Radiological, and Nuclear (CBRN) teams, have been deployed to strategic locations and are on high alert.

“A team of experts from the command’s Explosive Ordinance Disposal, Chemical, Biological, Radiological, and Nuclear units have been deployed to strategic locations and are on high alert.

“The unit can be contacted through: 08169884988 or 07067157218 for report of suspicious persons or item(s),” Haruna stated.

Residents have been urged to remain vigilant and report any suspicious activities to the nearest police station or contact the command through the designated hotlines.

“The command remains committed to protecting lives and properties as well as maintaining law and order in Kano State.

“We appreciate the support and cooperation of the good people of Kano State and urge everyone to remain vigilant. Your vigilance and cooperation are crucial in ensuring public safety,” the statement concluded.

 

 

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Ifon-Ilobu-Erin Osun Land Disputes: Osun Constitutes A 100-Member Boundary Resolution Committee

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Four gang-killed two in Osun, destroy N8M properties

 

In the bid to resolve the incessant land disputes between the communities of Ifon, Ilobu and Erin Osun, the Governor of Osun State, Senator Ademola Adeleke has constituted an enlarged 100-member high powered land crisis resolution committee in which each of the affected communities has 25 representatives, and the state government represented by 25 members.

The Osun State Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi made the disclosure in a statement in Osogbo, on Friday.

He revealed that the Ataoja of Osogbo land, Oba Jimoh Adetunji Olanipekun Larooye is the Chairman of the Committee, while a retired judge of Osun State Judiciary and Chairman, Osun State Boundary Commission, Justice Moshood Adekunle Adeigbe, would serve as the Co-Chairman.

According to Alimi, Gov Adeleke put in place the Committee with a view to bringing a lasting end to the incessant land disputes among the three affected communities.

ALSO READ: Leadership Newspaper Backs Adeleke For Second Tenure, Names Him ‘Gov Of The Year’

It was gleaned from the statement that there were four other traditional rulers on the panel, including His Royal Majesty; Oba Abioye Oyebode, the Olokuku of Okuku, His Royal Majesty; Oba Adams Iyiola Bamidele Yusuf, the Oloba of Oba Oke, His Royal Majesty; Oba Adekeye Oyedare, the Oloyan of Oyan and His Royal Majesty, Oba Akeem Ogungbamgbe,The Owaloko of Iloko-Ijesha.

Other members are Umar Abba Mohammed, Osun State Commissioner of Police, Ayoola Kehinde, Osun State Director, Department of State Services( DSS) Brigadier General, Aliu Mohammed, Commander E.C.C, Ede, Sotiyobo Igbalawola, Osun State Commander, Nigeria Security and Civil Defence Corps( NSCDC), Anthony Chikezie, Commander, Immigration Service, Osun State, Adekunle Omoyele, Osun State Commander, Amotekun Corps, and Special Adviser to Osun State Governor on Security, Barrister Dare Ojo.

Also on the enlarged Committee, where members are enjoined by Gov Adeleke to bring in their wealth of experience to bear on the highly critical assignment, are the Chairman, NBA Osogbo branch, Yemi Abiona, Esq; the Chairman, NBA, Ikirun, Niyi Akinsola, Esq; the Chairman, NBA, Ile Ife, Tope Olajoko, Esq; the Chairman, NBA, Ilesha, Raymond Oki, Esq; Others appointed to serve on the Ifon- Ilobu- Erin Osun Peace Resolution Committee are; Soladoye Abioye, the Surveyor General of Osun State – Dr Sodiq Olohunde, Office of Chief of Staff to the Governor, Marufat Adekemi Bello, Permanent Secretary , Ministry of Justice – Femi Ogundun,- Permanent Secretary, Ministry of Local Govt and Chiertincy Affairs, Dr Fritz Mobolaji Olaoye, Permanent Secretary, Ministry of Lands and Physical Planning.

Completing the list of the Committee members are Comrade Wasiu Ajadosu, Osun NUJ Council Chairman, Comrade Waheed Lawal, Osun Civil Society Coalition and Comrade Saka Mao, a Public Affairs Analyst

The statement has it that Gov Adeleke, will on Tuesday, the 28th of January, 2025 perform the swearing in ceremony of the 100-member enlarged Ifon, Ilobu, Erin Osun Land Crisis Resolution Committee, at the Multi purpose hall of Local Government Service Commission, State Government Secretariat, Abere Osogbo by 11:00am.

 

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Okpebholo Moves To End Indiscriminate Parking, Gridlock In Edo State

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Edo State Governor, Senator Monday Okpebholo, has charged the Managing Director of the Edo State Traffic Control Management Agency (EDSTMA), Engr. Stainless Ijeghede on indiscriminate parking and traffic gridlock, especially in market areas.

According to a statement in Benin City on Friday, by Chief Press Secretary to Edo State Governor, Fred Itua, his principal gave the charge while decorating Ijeghede with his new rank as the head of EDSTMA.

He noted that while addressing the new Managing Director and his personnel at the Exco Chambers in Government House, Gov Okpebholo pointed out that the agency should do its job well by ensuring free flow of traffic across the state.

He called on Ijeghede and men of the agency to ensure they checked indiscriminate parking of vehicles and buses, especially in market areas.

“Edo State belongs to all of us and whatever we are doing, we should do it with care not to harm anybody. I appeal to EDSTMA to ensure that the city is well kept because whenever I drive round town, I see vehicles everywhere as the city is not well kept.

“This is your primary assignment. You should ensure the city is well kept as vehicles park indiscriminately and they are causing obstruction. Traffic is not flowing as it should and it is causing serious gridlock. Is it that you are not doing your job well?

ALSO READ: Leadership Newspaper Backs Adeleke For Second Tenure, Names Him ‘Gov Of The Year’

“Is it that you are not doing your job well or because you have a new leader that is why traffic is not flowing, or because you don’t know your job?

“You people should wake up and keep the state clean. Make sure that vehicles are parked well especially in the market areas. Monitor markets very well as these areas are looking really unkempt with vehicles and buses parked indiscriminately, causing traffic gridlock. Edo people are worst hit. They suffer from this. Ensure free flow of traffic so that the people will be happy,” Governor Okpebholo emphasized.

The EDSTMA boss, thanked Gov Okpebholo for the opportunity to serve the people of Edo State and assured him of the loyalty of the agency.

He added that his men will do their job professionally and ensure that the is free flow of traffic across the state.

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