MARKET UPDATE
AUGUST 22, 2017NIGERIA STOCK EXCHANGE (Market Open) SUMMARY:All Share Index 36,584.44Deals 3,729.00Volume 368,381,759.00Value 6,272,685,687.99Market Cap 12,609,660,207,550.90TOP GAINERSBETAGLAS 59.84 (2.51)FLOURMILL 31 (2.49)NB 2.49 (2.48)GUARANTY 40.7 (1.2)UNILEVER 46 (0.5)TOP LOSERSNESTLE 1200.01 (-9.99)DANGCEM 215.62 (-9.38)STANBIC 38.11 (-0.74)WAPCO 58.5 (-0.5)ZENITHBANK 24 (-0.28)CBN EXCHANGE RATE (NGN)Buying:$USD 304.7GBP 392.4536 EURO 358.571SWISS FRANC 315.2939 YEN 2.7941 Selling:$USD 305.7£GBP 393.7416EURO 359.7478SWISS FRANC 316.3286YEN 2.8033CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) $50.79Natural Gas 2.96 (0.067)Gold 1295.70 (4.10) Silver 17.025 (0.025)Copper 2.985 (0.0455)Wheat 410.25 (-5.75)Coffee 130.45 (-1.25)Cotton 67.44 (0.16)Cocoa 1890.00 (-32.00)
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Dogara, Defence HQs differ on confirmation of service

The Speaker of the House of Representatives, Yakubu Dogara and the Defence Headquarters on Monday differed on the input of the National Assembly in the confirmation of the appointment of Service Chiefs by the President. While Dogara said it was necessary, the Defence Headquarters said otherwise, advocating for the deletion of entire Section 18 of the Armed Forces Act. The ... Read More »

‘Good Christian’ Jonathan approved controversial school curriculum – Minister

The Minister of Education, Adamu Adamu, on Thursday said the controversial basic curriculum amendment that raised dust in recent weeks because of its religious contents, was approved by former President Goodluck Jonathan. Mr. Adamu, who said the furore generated was not necessary, said the former leader was “a good Christian and cannot participate in Islamizing Nigeria”. Controversy recently erupted over ... Read More »

Ekweremadu wrong on Melaye’s recall’

Legal Adviser to the Okun Development Association in Lagos and the Southwest, Boyede Ogun, has faulted Deputy Senate President Ike Ekweremadu’s views on efforts to recall Senator Dino Melaye by his constituents. Ogun said Ekweremadu’s alleged description of the process as “an exercise in futility” and a “waste of precious time” were incorrect in law. Last Friday, the Independent National ... Read More »

A’Court frees Ngilari of fraud, quashes five-year jail term

A former Adamawa State governor, Bala Ngilari, convicted and sentenced to five years jail term for graft has regained freedom from prison. The  appellate court sitting in Yola, presided over by Justice Olayemi Omoleyeon Thursday discharged and acquitted Ngilari, who is on bail pending the appeal. Ngilari served as governor of Adamawa State for barely seven months. He was first arrested ... Read More »

INEC suspends Melaye’s recall

The Independent National Electoral Commission has said it will halt the process of recalling the Senator representing Kogi West Senatorial district, Mr. Dino Melaye, in compliance with a court directive. The INEC National Commissioner and Chairman of the Committee on Information and Voter Education, Adedeji Soyebi, said in a statement on Thursday that while the commission would obey the court order, it ... Read More »

Appeal Court Affirms Lagos LG’s Power To Collect Revenue On Private Car Parks

The Lagos division of Appeal Court has affirmed the power of Local Governments in Lagos State to generate revenue from private car parks and car lots within the State. The Appellate Court, in a judgment on Wednesday, dismissed an appeal filled by a telecommunication firm, Airtel Network Limited against the judgment of Justice Y. O. Idowu of the Lagos High ... Read More »

FG’ll Make Ilorin-Mokwa-Jebba Road Passable In Two Weeks – Osinbajo

Acting President Yemi Osinbajo has promised that the Federal Government will fix the Ilorin-Mokwa-Jebba Road within two weeks, to ease the flow of traffic. The Acting President said the government had commenced work to make the road passable, pending the commencement of work on re-construction of the collapsed Bakino Bridge at Tatabu community near Mokwa in Niger State. He specifically ... Read More »

W’Bank raises concerns over Nigeria’s debt servicing costs

The World Bank has expressed concerns about Nigeria’s rising debt servicing costs in relations to the government’s dwindling revenue. It stated this in its newly released Global Economic Prospects report, where it also observed that the country’s economic recovery was being limited by foreign exchange controls. Noting that debt servicing costs had risen but remained sustainable for most countries, it ... Read More »

2019: I will become Nigeria’s president through divine intervention – Fayose

Ekiti State Governor, Ayodele Fayose, said on Friday he would become Nigeria’s president in 2019 through divine intervention. The governor also said he supported the Peoples Democratic Party (PDP)’s decision to zone power to the North in the next general elections. He predicted that two events that would determine Nigeria’s future ahead of the 2019 presidential election would take place ... Read More »