Cloned Nigerian Anchor

Author: Chike Ozohili

  • Despite bargain hunting, equity market gains N52bn

    Despite bargain hunting, equity market gains N52bn

    The Nigeria’s equity market Tuesday remained bullish, appreciating by N52 billion amid renewed bargain-hunting activities.

    Market capitalisation of listed equities on Tuesday appreciated by N52 billion or 0.16 per cent to N32.185 trillion from N32.133 trillion reported the previous day.

    The NGX All Share Index also increased by 95.17 basis points to 59110.02 points from 59014.85 points traded on Monday.

    Trading in the shares of United Bank for Africa, GTCO Plc, Transcorps, Access Corp lifted market activities during the day.

    An analysis of the Investment showed that Academy Press Plc, Sky Ways, Chams Plc and Guinnea Insurance led gainers table during the day in percentage terms, appreciating by 10 per cent each to close at N1.98 per share, N7.70, N0.44 per unit and N0.22 per share respectively, Learn Africa followed with a gain of 9.92 per cent to close at N2.66 per share.

    On the contrary, C &I Leasing topped losers chart, dropping by 10 per cent to N4.05 per share, Cornerstone Insurance trailed with a loss of 9.82 per cent to close at N1.01 per share, NSL Tech  and Veritas Kapital down by 8.70 per cent each  to close at N0.42 and 0.21 per share respectively. RTBriscoe Plc dipped 8.11 per cent to close at N0.34 per share.

    Volume of trades increased by declined by 304.100 million representing 34.06 per cent as investors exchanged 588.854 million shares valued at N8.960 billion in 8272 deals against 892.954 million shares valued at N11.147 billion in 9274 deals.

    Transactions in the shares of United Bank for Africa led activity chart during the day with 78.511 million shares valued at N907.474 million, GTCO Plc followed with account of 65.398 million shares worth N2.107 billion, Transnational Corporation of Nigeria traded 33.706 million shares valued at N112.040 million, AccessCorps traded 31.378 million shares cost N466.626 million while Veritas Kapital traded 27.759 million shares cost N6.088 million

  • How EFCC grilled Ortom for 9 hours

    How EFCC grilled Ortom for 9 hours

    *Former Benue governor has nothing to hide, says Aide

    The Economic and Financial Crimes Commission (EFCC) on Tuesday grilled the immediate past governor of Benue, Mr. Samuel Ortom, for nine hours before he was later released.

    Ortom arrived at the premises of the commission’s Zonal Headquarters, Makurdi, at 10 a.m. and left there at about 7:00 p.m it was gathered.

    Reacting, Ortom’s media aide, Mr Terver Akase, said that contrary to insinuations in some sections of the mass media, Ortom was not arrested but only honoured the commission’s invitation.

    “Ortom was neither arrested nor detained at the EFCC Zonal Headquarters in Makurdi,“ Akase said.

    According to him, the former governor has nothing to hide, honoured that he would always be available for questioning by the anti-graft agency.

    “Ortom has nothing to hide regarding his stewardship in the state,” Akase said.

  • FG, IOM repatriate 21 irregular Nigerian migrants from Libya

    FG, IOM repatriate 21 irregular Nigerian migrants from Libya

    The Federal Government, in collaboration with the International Organization for Migration (IOM) has repatriated 21 Nigerian irregular migrants who were held in Libyan detention facilities.

    Amb. Kabiru Musa, Charge D’Affaires En Titre of the Nigerian Mission in Libya disclosed this in a statement made available to the NIGERIAN ANCHOR in Abuja.

    According to Musa, the stranded Nigerians are being evacuated to Nigeria under the Voluntary Humanitarian Repatriation (VHR) exercise.

    Musa said that the exercise was part of the Federal Government’s commitment to ensure that none of its citizens, irrespective of their migration status, was left stranded in Libya.

    He said that the returnees, who would be evacuated via commercial flights; Egypt and Ethiopian Airlines are expected to arrive the Murtala Mohammed International Airport on June 20.

    “The IOM in collaboration with Embassy of Nigeria Tripoli has repatriated  21 stranded Nigerians through the Voluntary Humanitarian Repatriation (VHR) June 19, from the Benghazi International Airport Libya, aboard commercial Egyptian Airline no. S830 to Cairo.

    “Commercial Ethiopian Airlines will airlift the returnees from Cairo to Addis Ababa and from Addis Ababa to Lagos, Nigeria with flight nos. ET453 and ET901 respectively.

    “The Egyptian airline is expected to depart Benghazi on the 19th June 2023 at 11:10 p.m on transit to Addis Ababa, and the Ethiopian airline will leave Addis Ababa on 20th June 2023 at 09.00 a.m local time,” he said.

    According to him, the flight is expected to arrive in Lagos at 12:25 p.m. local time.

    He said that the exercise was the 7th voluntary evacuation exercise that would be conducted this year, with about total number of 5000 stranded Nigerians repatriated under the VHR.

    “We are working closely with the Libyan authorities and we appreciate their support always,” Musa said.

    Thousands of Nigerian irregular migrants are locked up in detention centres across Libya for migration offences.

  • NRC records drop as 441,725 Nigerians travel by rail

    NRC records drop as 441,725 Nigerians travel by rail

    A total of 441,725 passengers travelled via the rail system in Q1 2023, lower than the 953,099 reported in the corresponding quarter of 2022. This represented a growth rate of -53.65 per cent.

    The rail transportation data for Q1 2023 by the National Bureau of Statistics (NBS), showed that 59,966 tons of goods were transported in Q1 2023, compared to 39,379 tons reported in Q1 2022.

    “In terms of revenue generation, N768.44 million was received from passengers over the period, lower by 63.02% relative to N2.08 billion in the same quarter of the previous year.

    “Similarly, N181.27 million was collected in Q1 2023 as revenue from goods/cargos, up by 99.28% from N90.96 million received in Q1 2022.

    “In addition, other receipts amounted to N34.17 million, indicating a decline of 41.02% in Q1 2023, from the N57.92 million collected in Q1 2022,” the NBS said.  

  • Two gunmen killed in Anambra after attack on vigilantes

    Two gunmen killed in Anambra after attack on vigilantes

    The Police in Anambra have confirmed the killing of two gunmen who attacked the camp of the  Anambra Vigilante Service on Monday in Okija, Ihiala Local Government Area of the state.

    Ihiala LGA borders Imo and has witnessed many terror attacks by gunmen.

    A source said about 15 armed men attacked the camp of the vigilantes in the early hours of Monday and opened fire on them, but were quickly repelled by security agents.

    “Two of the gunmen were gunned down during a hot exchange of fire and two AK-47 riffles were recovered, while many fled the scene.

    “Many of the gunmen who fled as they could not withstand the superior firepower of the security operatives, sustained various degrees of injuries and bullet wounds,” the source said.

    He added that there was no casualty on the part of the vigilante.

    Confirming the incident, the Police spokesman in the state, DSP Tochukwu Ikenga, called on private and public hospitals to report any patient with bullet wounds.

    Ikenga said a joint security team was mopping the area to arrest the fleeing gunmen, adding that no life was lost on the part of the vigilance operatives.

    Governor Charles Soludo said in a statement through his Press Secretary, Christian Aburime, that the government would remain committed to saving and securing Anambra.

    He added that the security forces would continue to safeguard the lives and properties of travelers and residents of the state.

     

     

  • Chinese Yuan strengthens 7.1201 against dollar

    Chinese Yuan strengthens 7.1201 against dollar

    The central parity rate of the Chinese currency renminbi, or yuan, strengthened 88 pips to 7.1201 against the dollar on Monday, according to the China Foreign Exchange Trade System.

    In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.

    The central parity rate of the yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

  • ExxonMobil announces Shane Harris new Nigeria Chairman/MD

    ExxonMobil announces Shane Harris new Nigeria Chairman/MD

    ExxonMobil has announced Mr. Shane Harris as the new Chairman and Managing Director in the country.

    Mr Ogechukwu Udeagha, the Manager, Media and Communications of ExxonMobil, announce this in a statement made available to newsmen in Eket on Monday.

    He said that Harris was to assume the role of lead country manager for ExxonMobil’s three affiliates in Nigeria due to Richard Laing’s retirement.

    “ExxonMobil has appointed Mr Shane Harris as chairman and managing director, and lead country manager of its three affiliates in Nigeria.

    “The three affiliates include: Mobil Producing Nigeria Unlimited, Esso Exploration and Production Nigeria Limited, and Esso Exploration and Production Nigeria (Offshore East),” he said.

    Udeagha said that Harris succeeds Laing, who is retiring from the company after 33 years of service, effective July 1.

    Harris, prior to his appointment, was the chairman and president of ExxonMobil Exploration and Production, Malaysia Incorporated.

    “It is a privilege to lead the ExxonMobil team in Nigeria and build on the work that Richard Laing has done over the last three years.

    “I look forward to the work that lies ahead and continuing the company’s outstanding relationships,” he said.

    Since joining ExxonMobil in 1998, Harris has held a variety of leadership, engineering and business assignments in Australia, Canada, Malaysia, Russia and the United States. 

    “In two of these previous assignments, he served as asset manager for Imperial Oil’s Kearl oil sands mining asset in northern Alberta, Canada, and as ExxonMobil’s global drilling technical manager in Houston,” Udeagha said.

    He said that Harris is Australian and holds a bachelor’s degree in mechanical engineering from the University of Newcastle, Australia.

  • Police neutralise 5 suspected terrorists, recover 143 animals in Katsina

    Police neutralise 5 suspected terrorists, recover 143 animals in Katsina

    The Police Command in Katsina State has neutralised five suspected terrorists, arrested one other and recovered 143 animals in Jibia and Batsari Local Government Areas.

    ASP Abubakar Aliyu, the Command’s Public Relations Officer, confirmed this to newsmen in a statement on Sunday in Katsina.

    He said that the team, in an intelligence-led operation, raided and cleared bandits camps in the two affected local governments.

    Aliyu added that the operation was conducted in collaboration with hunters and vigilantes.

    “The operation was led by the Command’s Officer in Charge of Anti-kidnapping Unit and that of Special Investigations Bureau (SIB).

    “The team succeeded in dislodging several notorious bandits’ camps at Marake, Garin Yara and Garin Labo villages, all in Batsari local government.

    “The team also dislodged another camp of one Audu Lankai, a notorious bandits’ leader terrorizing Jibia and its environs,” he said.

    According to him, during the operation, one Abubakar Idris, 18, a suspected notorious bandit, was arrested, while five others were neutralised.

    He further revealed that 38 cows, 40 sheep and 65 goats were recovered at the terrorists camps.

    Aliyu said that the police are still scanning the scene for possible arrests of other members of the camp or recover more of their corpses.

    He said the police commissioner is calling on residents of the state to continue to assist security agencies with vital information in a bid to curb criminal activities in the state.

  • S/African Johann Rupert overtakes Dangote as Africa’s richest man

    S/African Johann Rupert overtakes Dangote as Africa’s richest man

    South African Johann Rupert has displaced Nigerian billionaire businessman Aliko Dangote to become Africa’s richest man, Forbes Magazine said.

    Rupert’s net worth is currently $12 billion according to Forbes Real-time Global Billionaires Ranking, while Dangote trails behind him with a net worth of $10.8 billion as of Friday.

    Dangote’s net worth dropped due to the recent operational charges on the foreign exchange market carried out by the Central Bank of Nigeria, which led to the depreciation of the Naira against the US dollar.

    Consequently, Forbes and Bloomberg had to recalculate the fortunes of all Nigerian billionaires leading to the significant drop in the wealth of Dangote, Abdul Samad Rabiu, the founder of BUA cement, and Mike Adenuga, the Chairman of telecommunications giant Globacom Limited.

    Meanwhile, with the expected kickoff of the $20 billion Dangote refinery commissioned last Month, Aliko Dangote is expected to bounce back.

  • Q1 2023: FG rakes in N709.59bn VAT

    Q1 2023: FG rakes in N709.59bn VAT

    Nigeria’s aggregate Value Added Tax (VAT) for Q1 2023 has been reported at N709.59 billion, the National Bureau of Statistics (NBS), has said. 

    According to the NBS Value Added Tax report for Q1, 2023, a growth rate of 1.75 percent on a quarter-on-quarter basis from N697.38 billion in Q4 2022.

    Local payments recorded were N436.10 billion, Foreign VAT payments were N151.13 billion, while import VAT contributed N122.37 billion in Q1 2023.

    On a quarter-on-quarter basis, the activities of households as employers, undifferentiated goods- and services producing activities of households for own use recorded the highest growth rate with 349.86%, followed by construction with 95.64%.

    On the other hand, the report noted that activities of extraterritorial organizations and bodies had the lowest growth rate with–53.54%, followed by real estate activities with– 47.01%.

    In terms of sectoral contributions, the top three largest shares in Q1 2023 were manufacturing with 29.65%; information and communication with 19.29%; and mining & quarrying with 12.24%.

    The report said: “Conversely, activities of extraterritorial organizations and bodies recorded the least share with 0.02%, followed by activities of households as employers, undifferentiated goods- and services-producing activities of households for own use with 0.03%; and water supply, sewerage, waste management, and remediation activities with 0.04%.”

    However, on a year-on-year basis, VAT collections in Q1 2023 increased by 20.56% from Q1 2022. 

    Similarly, aggregate Company Income Tax (CIT) for the first quarter of 2023 was reported at N469.01 billion, indicating a growth rate of -37.79% on a quarter-on-quarter basis from N753.88 billion in Q4 2022.

    According to the NBS, local payments received were N300.78 billion, while Foreign CIT payment contributed N168.23 billion in Q1 2023.

    On a quarter-on-quarter basis, the financial and insurance activities recorded the highest growth rate with 50.42 per cent, followed by construction with 42.32 per cent.

    “On the other hand, water supply, sewerage, waste management, and  activities had the lowest growth rate with – 69.38%, followed by other service activities with -60.13%. In terms of sectoral contributions, the top three largest shares in Q1 2023 were financial & insurance activities with 22.94%; manufacturing with 20.91%; and information and communication with 11.89%.

    “Conversely, the activities of households as employers, undifferentiated goods-and services-producing activities of households for own use recorded the least share with 0.01%, followed by water supply, sewerage, waste management, and remediation activities with 0.04%; and activities of extraterritorial organizations and bodies with 0.12%.

    “However, on a year-on-year basis, CIT collections in Q1 2023 decreased by 14.96% from Q1 2022,” the NBS stated.