Red Star Express Appoints Peter Aletor and Erneka Ndu As Directors

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Red Star Express Appoints Peter Aletor and Erneka Ndu As Directors

The Board of Directors of Red Star Express Plc at its meeting of 28 June 2021 approved the retirement of Mr. Sule Umar Bichi and AIh. Aminu Dangana from the Board effective April 29, 2021.

Also at this meeting, Mr. Peter Aletor and Mr. Erneka Ndu were appointed to the Board of Red Star Express Plc effective June 28, 2021.

MR PETER SURULERE ALETOR

Peter Surulere Aletor is a fellow of the Chartered Institute of Stockbrokers, an Accountant by training and alumni of the. Executive Programmes of the Lagos Business School and the Harvard Business School. He has over 25 years of experience in Stockbroking, Asset Management and Deal Structuring.

Red Star express

He was a pioneer staff of Capital Express Securities Limited and rose to become its Managing Director. He is currently the Managing Director/ Chief Executive Officer of Apel Asset Limited.

Mr. Chukwuerneka Ndu

Chukwuerneka Ndu is a Fellow of the Institute of Chartered Accountants of Nigeria and an alumnus of the University of Nigeria Nsukka, Chief Executive’s Programme of the Lagos Business School and the Rotman School of Management, University of Toronto Canada.

Red Star Express

Mr Ndu has well over 35years’ experience in Accounting, Money Market and Project Finance, Audit, Tax and Consulting. Mr Ndu holds various Directorial offices with Leasafric Limited Ghana Epic International, (FZE) UAE, BW Offshore Nigeria Limited, Petra Services Limited, Imperial Homes Mortgage Limited and he is presently the Vice Chairman of Cordros Capital Limited and C&1 Leasing.

How Davido’s Aide, Obama Died At Evercare Hospital

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How Davido’s Aide, Obama Died At Evercare Hospital

Nigerian singer, David Adeleke, popularly known as Davido has lost an aide identified as Habeeb Uthman aka Obama DMW.

Obama DMW reportedly died after complaining of breathing difficulty on Wednesday at Evercare hospitalHow Davido’s Aide, Obama Died At Evercare Hospital in Lekki, Lagos, a few hours after driving himself to the hospital, where he was admitted for treatment.

He died despite getting attention from the doctors on duty.

One of the singers under the DMW record label, Peruzzi, took to his Instagram account to share pictures of a broken heart emoji.

He wrote, “Lord have mercy.”

Also, his friend, Khloe Oluwabusayo Abiri, popularly known as ‘Kokobykhloe’ mourned his demise on her Instagram story.

She wrote, “My whole life just flashed In front of me. God this cannot be true”

Obama DMW will be buried on Thursday according to Muslim rites.

Obama DMW’s Profile

He was born in the late 80s.

He hailed from Lagos State. Though he was a science student, he started managing upcoming artists in his institution of learning.

How Davido’s Aide, Obama Died At Evercare Hospital-Brand Spur Nigeria
How Davido’s Aide, Obama Died At Evercare Hospital-Brand Spur Nigeria

Until his death, Obama DMW was the founder and CEO of Obama Music Worldwide (OMW) record label.

This news comes barely six months after Davido lost his bodyguard of six years, Ogbeide Tijani Olamilekan (Teejay).

In 2017, Davido also lost two friends and team members, Tagbo and DJ Olu.

World Economic Forum Launches Coalition To Tackle Harmful Online Content

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World Economic Forum Launches Coalition To Tackle Harmful Online Content

The World Economic Forum has announced that it is launching a Global Coalition for Digital Safety which will accelerate public-private cooperation to tackle harmful content online.

It will serve to exchange best practices for new online safety regulations, take coordinated action to reduce the risk of online harms, and drive collaboration on programs to enhance digital media literacy. The full list of members can be found here.

With the growing challenge of health misinformation, violent extremist and terrorist content, and the exploitation and abuse of children online, there is an urgent need for more deliberate global coordination to improve digital safety.

“The Forum recognizes this problem is only growing in size and complexity. This Coalition serves to bring together leaders in the public and private sector to cooperate globally on solutions that will ultimately reduce the consumption and distribution of material that is causing harm – especially to vulnerable members of our population,” said Cathy Li, Head of Media, Entertainment, and Sport Industries at the Forum.

Coalition members highlighted the need to act more proactively when it comes to digital safety and the importance of further cooperation:

“All the processes of the modern world are connected to the internet and information technologies. But at the same time, when we speak about high-tech processes, ‘digitalization’, we always know about the main goal – to create a safe online environment for our citizens. Therefore, the global initiative to create purposeful cooperation between states, organizations and businesses is extremely relevant.”
H.E. Mykhailo Fedorov, Deputy Prime Minister and Minister of Digital Transformation, Ukraine

“In order to improve digital safety, it is imperative that we accelerate public-private cooperation. This is an area that the World Economic Forum’s Global Coalition for Digital Safety, as an impartial platform, can look into.”
H.E. Johnny G. Plate, Minister of Communications and Informatics, Indonesia

“The significance of national and international collaboration, multistakeholder engagement and investment in holistic solutions to address the proliferation of global online harms has never been more important. I am so pleased to be part of the World Economic Forum’s Digital Content Safety initiative and to have an opportunity to raise awareness about eSafety’s multifaceted approach to helping our citizens have safer, more positive experiences online.

Securing harmonization across jurisdictions to avoid a patchwork and fragmentation of online safety legislation, governance arrangements and national online safety measures should be a priority for us all.”

Julie Inman Grant, eSafety Commissioner, Australia, “Global online safety is a collective goal that must be addressed by working across borders as well as by individual nations. We look forward to collaborating with international Coalition members to reduce the risk of online harms and build a safer life online for everyone.”
Dame Melanie Dawes, Chief Executive, Ofcom, UK

“We believe that everyone should be free to share without harassment or abuse.”
Chris Priebe, Executive Chairman, Two Hat Security

“Technology offers tools to learn, play, connect, and contribute to solving some of the world’s greatest challenges. But digital safety harms remain a threat to these possibilities. As the World Economic Forum is uniquely positioned to accelerate the public-private collaboration needed to advance digital safety globally, Microsoft is eager to participate and help build whole-of-society solutions to this whole-of-society problem.”
Courtney Gregoire, Chief Digital Safety Officer, Microsoft

A framework proposed in the new report, Advancing Digital Safety, will serve to better protect users online. It is centred on industry standards, which establish a safety baseline, together with regulation to govern enforcement. Coalition members are committed to charting a course that will resolve key tensions in privacy, safety, expression, business incentives and corporate versus public responsibility to effectively minimize the risk of harms encountered online.

Nestlé Waters Targets Positive Water Impact By Regenerating Local Water Cycles

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Nestlé Waters Targets Positive Water Impact By Regenerating Local Water Cycles

Nestlé Waters will expand its current efforts to manage water sustainably and increase its collaboration with partners to identify and support local solutions.

These solutions are designed to help regenerate the ecosystems in the areas around each of Nestlé Waters’ 48 sites. As of 2025, they will help nature retain more water than the business uses in its operations.

The new initiative builds on the company’s 2017 commitment to certify all of its Waters sites by the Alliance for Water Stewardship (AWS) by 2025. This standard requires water users to understand and act collectively on water challenges.

Nestlé will now use its expertise to advance the regeneration of local water cycles through the implementation of more than 100 projects for its 48 sites by 2025. These new, measurable actions will support better water management and infrastructure. Some project examples include:

  • Buxton – Land conservation (protecting land from development) and natural flood management interventions in Derbyshire, UK
  • Vittel – River restoration and renaturation projects in Vosges, France
  • Nestlé Pure Life – Support for farmers to use drip irrigation in Sheikhupura, Pakistan
  • Nestlé Pure Life – The delivery of water treatment, filtration and pipeline infrastructure for the municipal water supply in Benha, Egypt

Nestlé will invest CHF 120 million (USD 130 million) to assist the implementation of the more than 100 projects.

“Today, we are accelerating our journey to support the regeneration of local water cycles and are challenging ourselves to take bold new steps,” said Muriel Lienau, Head of the Waters Business.

“We want to play an active role in helping to conserve water resources everywhere we operate. To do so, we will work with many partners to develop tailored projects that help find local solutions.”

Climate change, higher water consumption, growing urbanization and damaged infrastructure are some of the factors contributing to the deterioration of the natural water cycle. These trends are interfering with the predictability of precipitation and the availability of clean water. Additionally, rising temperatures and more extreme weather patterns are causing more flooding and droughts.

“As a business with a long heritage of nature protection and water stewardship, we want to go beyond the conservation of water sources to help regenerate and restore water cycles in the areas where we operate,” said Cédric Egger, Head of Sustainability at Nestlé Waters. “We know the water challenge is global, but it can only be tackled through local solutions.

Now is the time to expand the scope of our actions. With Nestlé’s presence around the world, we can learn from our many partners and contribute to solving the water challenges in the locations near our operations.”

Nestlé’s work will be tailored to individual locations, needs and issues and will take a broader approach, going beyond its own operations. The company will work with local water users, communities, partners and global experts to identify, develop and progress projects specific to those challenges.

As a founding member of the 2030 Water Resources Group (2030 WRG), Nestlé has a history of collaborating with leaders and experts from the public, private and civil society sectors to help design solutions for sustainable water management. The company will apply its experience and learnings from the 2030 WRG as well as from its many other partnerships in the implementation of the more than 100 water projects outlined above.

All projects will be measurable, using the World Resources Institute’s Volumetric Water Benefit Accounting (VWBA) methodology. This methodology provides consistency in analyzing water management activities and helps to ensure that such activities address current and future shared water challenges.

Using this methodology, a newly created external panel will review the relevance and sustainability of the projects and give feedback on whether they are helping to address the local challenges and opportunities. Nestlé Waters will provide full transparency on the water usage at each of its sites and on what its projects contribute to the area.

Reckitt Opens New Sub-Saharan Africa Head Office in Lagos

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Reckitt Opens New Sub-Saharan Africa Head Office in Lagos

British multinational consumer goods company, Reckitt has announced the opening of its Sub-Saharan Africa (SSA) Head Office in Lagos, Nigeria. The new office was inaugurated by H.E Ben Llewellyn-Jones, OBE, the British Deputy High Commissioner, on Monday, June 28, 2021.

Reckitt has been present in Nigeria since 1960, investing in manufacturing, media, distribution and retail businesses, through which it’s business and affiliates have generated employment for over 4,000 people.

Reckitt
From left: General Manager, Reckitt, Sub-Saharan Africa, Akbar Ali Shah; Deputy High Commissioner, British High Commission, H.E Ben Llewellyn-Jones OBE, and Human Resources Director, Reckitt, Sub-Saharan Africa, Abel Idonije at the commissioning of the Head Office of Reckitt’s operations in Sub-Saharan Africa in Ikoyi, Lagos on Monday, June 28, 2021. | Brand Spur Nigeria

For Reckitt, the new head office will serve as a base for efforts facilitating increased access to the highest-quality hygiene, wellness and nourishment products for citizens across six countries under its Sub-Saharan Africa region — Nigeria, Kenya, Ghana, Uganda, Tanzania and Ivory Coast.

According to General Manager, Reckitt SSA, Akbar Ali Shah,

“We envision Sub Saharan Africa as the next pillar of growth, where our brands can truly live their purpose to build a cleaner and healthier world, where access to quality hygiene, health and nutrition becomes a right and not a privilege.”

Reckitt

He continued, “Nigeria being the biggest economy in Africa is a natural base to drive our expansion plans in Sub-Saharan Africa. Reckitt has been working on a Work-From-Home (WFH) policy since March 2020. Over the last year, we learned how the world has evolved, and we understand the benefit of a hybrid work regime.

“We are moving from the conventional office space to an all-inclusive collaboration centre where employees can bring their true selves to work. It is in this regard, that we have set up what will be the future of the workplace, a first of its kind.

“Additionally, at Reckitt, sustainability is central to our purpose, and runs through everything we do, hence the choice of this office within the first environmentally certified commercial building in the city was deliberate.”

Commenting during the ceremony, Llewellyn-Jones said,

“Reckitt is famous in Nigeria for its brands like Dettol, JIK, Harpic and Mortein. As a British business operating in Nigeria, I am pleased to support the opening in Lagos of their Head Office for Sub-Saharan Africa. The British Deputy High Commission and our International Trade Team are committed to supporting all UK businesses, delivering more jobs and economic growth for both Nigeria and the UK.”

Reckitt
Deputy High Commissioner, British Deputy High Commission Lagos
Ben Llewellyn-Jones OBE | Brand Spur Nigeria

“Nigeria is still the second-largest destination for British foreign direct investments in Sub Saharan Africa. I’m very proud of that. Our job is to try and grow that. Secondly, on the workspace, I think this again is an example for people visionary approach to post-COVID environments in a workspace; safe, functional but also very pleasant. I think it’s an example to encourage others to look at this.”

Well, naturally there are some insecurity challenges at this time, we the British government working closely with the Nigerian government to try and address those. But I think the long-term future of Nigeria is not a question in terms of size economy its scale of the consumer base, and also the amazing human capital that’s here in Nigeria. So I think the future is very, very bright and Lagos is the right choice for regional growth.

Driven by its purpose to protect, heal and nurture, Reckitt is committed to providing quality brands that will continue to enrich the lives of consumers.

Reckitt, a global leader in hygiene, health, and nutrition, and the company behind world-renowned brands such as Dettol, Mortein, Durex, Airwick, and Jik.

Carbon teams up with Visa to enable payments across Africa

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Carbon teams up with Visa to enable payments across Africa

Carbon, a pan-African fintech company providing access to basic financial services for Africans, has today announced a strategic five-year partnership with Visa, the world leader in digital payments, to offer both digital and physical issuance of Visa cards to its customers.

Carbon is launching Visa debit cards in the third quarter of 2021, roughly a year after shifting from being a leading digital lending company to becoming a digital bank offering a range of financial services including, savings and payments. By leveraging Visa’s payment functionalities, Carbon will deploy an instant issuance process in three key markets including Nigeria, Ghana, and Kenya.

Carbon
Carbon teams up with Visa to enable payments across Africa | Brand Spur Nigeria

The collaboration between both companies includes financial support from Visa and will be spread over the five-year partnership period. The funds will be used to provide implementation and marketing support to help drive further growth and adoption of Visa’s payment solutions across Carbon’s products.

“Carbon is focused on delivering an unparalleled banking experience that is both safe and reliable across all touchpoints,” said Chijioke Dozie, CEO/Co-founder of Carbon. “We want more customers to enjoy some of our popular products like Carbon Zero through their Carbon card, and key to achieving this is our partnership with leading payments and fintech-friendly company like Visa.”

Carbon
Carbon teams up with Visa to enable payments across Africa | Brand Spur Nigeria

With the arrival of debit cards, Carbon is building on its fast-growing user base of over 650,000 customers and a strong 2020 fiscal year which saw the company process ₦96.54 billion (~$241.35 million) in payments and ₦25.21 billion (~$63 million) in loan disbursements, eclipsing the previous year’s numbers despite the pandemic.

“The rapid pace of technology innovation has driven a powerful shift in business and consumer expectations in finance,” said Kemi Okusanya, Vice President, Visa West Africa.

“Whether it is changing the way people invest, manage money, receive loans, or send real-time payments to friends and family, Visa is a natural partner for fintech including Carbon, providing them with new ways to reach their customers through Visa’s vast network and global scale.”

carbon

Adding Visa cards to its payments stack will also enable easier access to Carbon Zero, the company’s Buy Now Pay Later product, which allows consumers zero percent financing on items they need the most but cannot afford immediately.

The partnership with Visa will undoubtedly go a long way in consolidating Carbon’s first-rate digital bank status and facilitate a robust payment experience for consumers across different demographics with unique financial needs.

COVID Variant Threatens Oil Demand

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COVID Variant Threatens Oil Demand

Tuesday, June 29, 2021 – Oil edged up on Tuesday after posting a loss on Monday due to demand concerns.

New Covid restrictions. The spread of the Delta variant is raising some red flags, with new restrictions on visits implemented in Hong Kong, Spain, and Portugal in recent days. New flareups in cases have occurred in the UK and Australia, among other places. The Delta variant could pose some oil demand risks, and oil prices have tapped on the brakes as a result.

OPEC+ optimistic ahead of the meeting. OPEC+ says that the overall conditions in the oil market have significantly improved in recent months. The group was optimistic as this week’s meetings began, with a decision on whether they will ease the production cuts further expected on July 1.

Nigeria Economy in 2021: Tough times, tough takes!

U.S. shale still showing restraint. Despite WTI hitting a two-year high, shale drillers are not rushing back with a wave of new drilling. “I’m still confident the producers will not respond” to the run-up in prices, said Scott Sheffield, CEO of Pioneer Natural Resources (NYSE: PXD).

Anger in Texas after huge gas bills from the February storm. Utilities across multiple states in the central U.S. are suffering losses related to the widespread blackout in Texas in February. Lawmakers and regulators in Minnesota, Oklahoma, Missouri, Arkansas, and Kansas have called for investigations into market manipulation and are exploring regulatory changes.

EU approved climate target into law. European Union countries on Monday gave the final seal of approval to a law to make the bloc’s greenhouse gas emissions targets legally binding. The bloc will cut emissions by 55% by 2030.

VW to end ICE cars by 2035. German carmaker Volkswagen will stop selling combustion engines cars in Europe by 2035, but slightly later for its sales in the United States and China.

California approves 11.5 GW of new clean energy. California approved an 11.5 GW procurement package composed entirely of clean energy resources that will come online in the middle of the decade, marking its largest-ever capacity procurement ordered at once.

Shell buys BP’s stake in the North Sea gas field. Royal Dutch Shell (NYSE: RDS.A) bought BP’s (NYSE: BP) stake in the Shearwater North Sea gas field, raising its stake in the field to 55.5%.

DUCs drop 27%. The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has declined by 27 percent since the peak in June 2020, the Energy Information Administration (EIA) has estimated.

Biofuels groups urge EPA not to issue waivers. After the Supreme Court handed a victory to oil refiners in their dispute with ethanol groups, the biofuels industry is hoping the EPA will nevertheless keep waivers limited.

Russia struggling to boost oil production. Russia is having trouble reversing an oil production decline it implemented under its agreement with OPEC+. Russia has been producing some 10.42 million bpd of crude oil and condensates since the start of the month, which is lower than May’s average of 10.45 million bpd.

Supreme Court rules in favor of Penn East. The U.S. Supreme Court ruled in favour of PennEast Pipeline Company in a high-profile case over eminent domain, overturning a lower court decision in favor of the state of New Jersey which sought to protect landowners.

Aramco bets on blue hydrogen. Saudi Aramco (TADAWUL: 2222) outlined plans to invest in blue hydrogen as the world shifts away from dirtier forms of energy but said it will take at least until the end of this decade before a global market for the fuel is developed.

Smaller oil sands keep pumping. Despite the push towards decarbonization, carbon-intensive oil sands operations are boosting cash flow and performing well in the short run.

Qatar: Peak gas around 2040. One of the world’s largest liquefied natural gas (LNG) exporters, Qatar, expects global natural gas demand to peak at some point around 2040. According to Qatar’s state-owned giant, worldwide natural gas demand still has two decades to grow.

Brazil’s oil boom continues. Latin America’s largest oil producer Brazil is one of the worst affected countries globally by the COVID-19 pandemic. By March 2021 petroleum and natural gas production was in decline with total hydrocarbon output falling by nearly 3% year over year to an average of 3.6 million barrels of oil equivalent per day. Nevertheless, by April operations began to recover and the country’s economically critical oil output was rising.

Natural gas prices soaring. A historic heatwave in the Pacific Northwest, along with other heatwaves in parts of the U.S., has contributed to a huge spike in natural gas prices. The August contract surged 7.3 cents higher in Monday’s session, a rally that analysts at EBW Analytics Group attributed to near-term heat and corresponding strength in the physical market.

Europe natural gas prices also soaring. TTF prices for the natural gas shot above $11/MMBtu in recent days. On Tuesday, Russia declined to add more gas to its pipeline system through Ukraine, another bullish spark for European gas markets.

England Knock Out Germany From Euro 2020

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England Knock Out Germany From Euro 2020

England has knocked out Germany from the Euro 2020 with a 2-0 win at Wembly.

Raheem Sterling set England on their way to a memorable victory with a third goal in four matches and at the finals after 75 minutes before Harry Kane answered his critics with a second to send supporters inside the stadium into delirium.

England Knock Out Germany From Euro 2020-Brand Spur Nigeria
Germany’s coach Joachim Loew hugs Germany’s forward Thomas Mueller at the end of the UEFA EURO 2020 round of 16 football match between England and Germany at Wembley Stadium in London on June 29, 2021. Frank Augstein / POOL / AFP

Mueller should have equalized when Havertz’s pass sent him clean through, but the Bayern Munich star rolled his shot wide and fell to the turf in dismay.

 

Financial and Consumer Goods Sectors Advances NGX-ASI by 0.15%

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Financial and Consumer Goods Sectors Advances NGX-ASI by 0.15%

Transactions on the Nigerian Equity market closed for today (Tuesday) on a positive trajectory as the market recovers by N29 billion. The positive performance was buoyed by investors’ buying interest on recently depreciated medium and large-scale stocks.

Consequently, the market indicators (NGX-ASI) increased by 0.15%. Furthermore, the market breadth closed positively, recording 28 gainers as against 13 losers.

In summary, the All-Share Index (ASI) grew by 55.50 absolute points, representing an increase of 0.15% to close at 37,640.75 points. Similarly, the overall Market Capitalization value gained N28.93 billion, representing a surge of 0.15% to close at N19.62 trillion.

Consumer Goods

IKEJA HOTEL and LINKASSURE emerged as the joint-top gainer (by percentage points) for today, with a maximum price appreciation of +10.00 while BOCGAS emerged as a  top loser (by percentage points) with a maximum price depreciation of -5.17%.

Today’s market upturn was driven by price appreciation in large and medium capitalized stocks amongst which are; CADBURY (+9.62%), HONYFLOUR (+9.46%) FCMB (+8.06%), ROYALEX (+5.17%) OKOMUOIL (+4.27%), JAPAULGOLD(+4.17%), DANGSUGAR (+4.17%), UBN (+3.74%), TRANSCORP(+3.45%), OANDO (+3.09%), STERLNBANK (+2.55%), VITAFOAM (+2.05%), FBNH (+1.39%), AIICO (+0.96%), STANBIC (+0.50%), ZENITHBANK (+0.42%), and NB (+0.25%).

MARKET STATISTICS

CAP N19,621,450,269,200.34 One Day (ASI CHG) +0.15%
Index 37,640.75 One Week (ASI CHG) -0.55%
Volume 229,009,903 One Month (ASI CHG) -1.61%
Value N2,730,080,185.54 Six Months (ASI CHG) -3.76%
Deals 3,678 52 Weeks (ASI CHG) +51.42%
Gainers 28 Losers 13
Unchanged 58 Total 99
YTD Returns -6.53%

Source: Ngxgroup.com, GTI Research 

Sector Performance

Security Change Percent
NGX30 0.23
NGXBNK 0.25
NGXCNSMRGDS 0.29
NGXINDUSTR 0.00
NGXINS 2.22
NGXLOTUSISLM 0.29
NGXOILGAS -0.86

Top 7 Gainers

Security Previous Close Open Price Close Price Change Price % Change
LINKASSURE 0.70 0.70 0.77 0.07 10.00
IKEJAHOTEL 1.10 1.10 1.21 0.11 10.00
CADBURY 7.80 7.80 8.55 0.75 9.62
HONYFLOUR 1.48 1.48 1.62 0.14 9.46
CHIPLC 0.58 0.58 0.63 0.05 8.62
FCMB 3.10 3.10 3.35 0.25 8.06
MBENEFIT 0.40 0.40 0.43 0.03 7.50

Top 7 Losers

Security Previous Close Open Price Close Price Change Price % change
JAIZBANK 0.58 0.58 0.55 -0.03 -5.17
VERITASKAP 0.25 0.25 0.24 -0.01 -4.00
UNITYBNK 0.55 0.55 0.53 -0.02 -3.64
PZ 5.85 5.85 5.65 -0.20 -3.42
FLOURMILL 29.80 29.80 29.05 -0.75 -2.52
UNILEVER 13.20 13.20 12.95 -0.25 -1.89
SEPLAT 700.00 700.00 690.00 -10.00 -1.43

Top 7 Traders By Value

Security  Daily Volume   Daily Value  Close Price
GTCO    13,428,396.00    401,146,241.25 30.00
SEPLAT          536,083.00    369,891,240.90 690.00
NB      5,513,780.00    330,404,147.60 60.00
ZENITHBANK    11,149,083.00    265,319,910.40 23.75
TOTAL      1,533,224.00    214,708,269.40 145.00
DANGCEM          694,662.00    153,382,277.80 221.00
FCMB    40,703,647.00    133,656,921.41 3.35

Top 7 Traders By Volume

Security  Daily Volume   Daily Value  Close Price
FCMB    40,703,647.00    133,656,921.41 3.35
CUSTODIAN    15,814,050.00      95,689,887.65 6.05
GTCO    13,428,396.00    401,146,241.25 30.00
ZENITHBANK    11,149,083.00    265,319,910.40 23.75
JAIZBANK    10,688,396.00         5,927,253.36 0.55
MANSARD    10,452,069.00         9,390,797.12 0.90
ACCESS      9,407,099.00      79,896,384.50 8.50

 

The overnight (O/N) rate closed at 17.25%, representing 2.00% depreciation against Monday’s position. while Open Buy-Back (OBB) rate closed at 16.75%, representing 1.75% depreciation against Monday’s position.

The Investors and Exporters (I&E) FX window opened at N411.01, traded high

at N420.90, traded low at N400.00, and eventually closed at N410.83, representing 0.11% appreciation against Monday’s closing position. However, at the BDC, the naira remains unchanged at N500.00.

Nigeria’s foreign reserve weakened by $103.02 million to $33.42 billion on (28/06/2021) from $33.52 billion on (25/06/2021), representing a 0.31% decline.

The Brent crude increased by $0.31 to $74.81 on (24/06/2021) from $74.50 (23/06/2021), representing a 0.42% increase in price. While Bonny Light declined by $0.34 to $74.74 on (24/06/2021) from $75.08 on (23/06/2021)

IPOB: FG Re-Arrest Biafra Separatist Leader, Nnamdi Kanu

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IPOB: FG Re-Arrest Biafra Separatist Leader, Nnamdi Kanu

Leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu has been re-arrested after four years on the run from Nigerian authorities.

The Minister of Justice and Attorney-General of the Federation (AGF), Abubakar Malami, announced at a media briefing on Tuesday, June 29, 2021, that international collaborative efforts led to Nnamdi Kanu’s arrest.

The IPOB leader was arrested on Sunday, June 27, but it’s unclear where exactly the arrest took place.

Nnamdi Kanu is already back in Nigeria and will face pending charges against him at the Federal High Court in Abuja.

Charges against him border on terrorism, treasonable felony, managing an unlawful society, publication of defamatory matter, illegal possession of firearms, improper importation of goods, and others.

Nnamdi Kanu’s troubles with the Nigerian government started when he was arrested by the Department of State Security (DSS) in 2015.

He spent two years in custody until he was granted bail on health grounds in April 2017.

He then disappeared from the public space after an alleged attack by military troops on his father’s compound in Abia State in September 2017.

He missed numerous court dates, leading to a revocation of his bail, and an order for his arrest.

Kanu was not seen in public for another year until he resurfaced while praying at the Wailing Wall in Jerusalem in October 2018.

He has since then continued his agitation from abroad, even though the government declared IPOB a terrorist organization and proscribed the group’s activities in the wake of his 2017 disappearance.

The group has since then created a paramilitary wing with the aim to fight insecurity in the southeast, but the Eastern Security Network (ESN) has repeatedly been linked by authorities to a spate of recent attacks on security agencies, attacks that have left dozens of operatives dead.

Malami on Tuesday accused Kanu of instigating many of those killings and other violent acts in the southeast using his media broadcasts.

“He has, upon jumping bail, been accused of engaging in subversive activities that include inciting violence through television, radio, and online broadcasts against the Nigerian state and institutions,” the AGF said.

Twitter Suspension In Nigeria

Nnamdi Kanu was also one of the central figures reportedly responsible for the Federal Government’s decision to suspend Twitter in Nigeria.

The Minister of Information and Culture, Lai Mohammed, accused the social media company of failing to acknowledge Nigeria’s request to deplatform the IPOB leader.

He said Kanu was allowed to use the platform to incite his followers to attack security operatives and denigrate the Nigerian state.

Nigerian React Over Re-Arrest Nnamdi Kanu

While some Nigerians counsel the Federal Government to handle Kanu’s case with caution, others, especially Biafra campaigners, expressed firmness of purpose. Cheers and jeers for the Nigerian government.

See reactions below;

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