WHO DG Commends United States Decision To Support Temporary Waiver On IP For COVID-19 Vaccines

0

WHO Director-General Dr. Tedros Adhanom Ghebreyesus praised the commitment by the United States administration of President Joe Biden and Vice-President Kamala Harris to support the temporary waiver of intellectual property on COVID-19 vaccines in a bold move to end the pandemic as quickly as possible.

“This is a monumental moment in the fight against COVID-19. The commitment by the President of the United States Joe Biden and Ambassador Katherine Tai, the US Trade Representative, to support the waiver of IP protections on vaccines is a powerful example of American leadership to address global health challenges,” said Dr Tedros.

“I commend the United States on its historic decision for vaccine equity and prioritizing the well-being of all people everywhere at a critical time. Now let’s all move together swiftly, in solidarity, building on the ingenuity and commitment of scientists who produced life-saving COVID-19 vaccines.”

On Wednesday, Ambassador Kai issued a statement saying the extraordinary circumstances caused by the COVID-19 pandemic required extraordinary measures to respond and that the waiving of intellectual property protections on vaccines was needed to help end the pandemic. The United States would, the statement continued, participate in World Trade Organization negotiations to support the temporary waiving of protections, and work with the private sector and other partners to expand vaccine manufacturing and distribution.

Dr Tedros added: “The White House’s support for the temporary waiving of intellectual property on COVID-19 vaccines reflects the wisdom and moral leadership of the United States to work to end this pandemic. But I am not surprised by this announcement. This is what I expected from the Administration of President Biden.”

Throughout the COVD-19 pandemic, WHO has been working with partners to scale up the development and distribution of vaccines, diagnostics and treatments through the Access to COVID-19 Tools Accelerator, a pillar of which is the COVAX Facility for the equitable sharing of vaccines to at-risk people worldwide.

We won’t reverse minimum wage, slash workers salaries – Ogun State Govt

0

Governor Dapo Abiodun of Ogun State says his administration will not reverse the recently signed new minimum wage and slash workers salaries despite the economic crunch being faced by the country.

This is just as the governor promised that the local government elections slated for July 24, would not be skewed in favour of the ruling party.

minimum wage

Abiodun made this known during the breaking of fast (Iftar) with the leaders of the ruling All Progressives Congress (APC) in the state, on Wednesday evening, in Abeokuta, the state capital.

The Federal Government had on Tuesday declared that it would slash workers salaries and merge agencies, to cope with the dwindling economic situation in the country.

But addressing the APC leaders at the Iftar, Abiodun vowed that his government would not slash salaries of its workforce, rather, his administration would continue to be creative in its bid to make the state economically viable and financially strong.

“We are being very creative with financing. I was watching on television where I saw one of my brother governors say they might have to reverse on minimum wage. I want to assure you that Ogun State will not reverse on minimum wage”, the governor maintained.

On the LG elections, Abiodun informed the party leaders that he would not share political positions among men and women who are party faithful during the elections but promote equal participation, noting that leaders of the ruling party in the state must show that they are products of democracy.

“We must be consistent; we must show that we have learnt from other people’s lessons and we that are a product of democracy. We had done primaries when somebody else did not want primaries, we subjected ourselves to the party process, we evolved through that process which was later confirmed by the general elections despite all odds. Let us make sure that whatever process we adopt is democratic, we must be seen as true progressive democrats.

“When it comes to a process like this, what we need to do is to encourage our women to participate, to come forward and participate, we will vote for them, but we are not going to share it and say because you are a woman, you take this. No, that will be undemocratic. We are not going to do that, there will be fairness,” he stated.

On the issue of insecurity, the governor disclosed that his administration would soon relaunch the OPMESA, which according to him was recently resuscitated after years of neglect by the immediate past administration in the state.

He added that any act of insecurity would be viewed as sabotage against its government’s plans to grow the economy of the state.

“We are taking the issue of security very seriously, be assured that we are doing everything we can, being the industrial hub of this country. Any act of insecurity is sabotage against our plans to make our state very viable economically, we are going to fight it with everything, we are going to protect it with everything we have.

“We have resuscitated OPMESA. We are going to launch it may be in the next two weeks, so we are going to have Amotekun and that. We are going to fight with everything, we have the police, vigilante, civil defence, the military are still there and then we have the OPMESA.

“OPMESA has gone for so many years because the previous administration did not take it very seriously, so, they withdrew it. But I went after that initiative and I got the Chief of Army Staff to finally approve it because like I said to him, I don’t know of other states, but my state, I cannot afford insecurity”, Abiodun stated.

While restating his administration’s commitment to making the state safe for the residents, the governor called on the people of the state to be watchful, prayerful and be observant of their environment, noting “security agents are as good as the intelligence they gathered”.

Earlier in his remarks, the Caretaker Committee Chairman of the APC in Ogun, Yemi Sanusi commended the state governor for embarking on massive road rehabilitation and reconstruction across the state, as well as accommodating more members into the party, particularly bigwigs from other political parties.

In their respective remarks, former deputy governor, Segun Adesegun, Senator Adegbenga Kaka and Gboyega Nasiru Isiaka, who commended the governor for his effort at making the state more attractive for investors, declared that they would continue to support his administration.

On her part, a House Representatives member representing Remo Federal Constituency, Adewunmi Onanuga, thanked Abiodun for making lawmakers from the state envy other members of the House of Reps, over his strides in the overall development of the state.

She, however, called on the governor to give more women the chance to represent their people at the grassroots.

LASIEC Unveils New Website Ahead Of Council Polls

0

The Lagos State Independent Electoral Commission (LASIEC), has unveiled a new user-friendly website as part of its preparedness for the forthcoming Local Council elections slated for the 24th of July, 2021.

In her remarks during the unveiling, the Chairman of the Commission, Hon. Justice Ayotunde Phillips (Rtd), stated that the new website is faster, more secure, easier to navigate, and user-friendly as part of efforts to boost communication between the Commission and various stakeholders in the public, particularly at this crucial period.

LASIEC

She enjoined members of the public to visit the website: www.lasiec.gov.ng and other social media handles of the Commission on Facebook, Twitter or Instagram for up-to-date, real-time and accurate information, inquiries, complaints and feedback via the channels.
She also stated that for transparency, recruitment of ad-hoc personnel will be carried out online, media accreditation and election observer forms will also be available to download from the website.

The Chairman further reiterated that in order to guarantee the legitimacy and credibility of the electoral process, the electorate must be encouraged, educated, informed and provided with basic information about participating in elections so as to freely express their political choices.

While pledging the Commission’s commitment to free, fair, credible and inclusive Council polls, Justice Phillips said LASIEC would continue to build and sustain its integrity as an impartial body recognised for excellence in electoral administration and the sustenance of democracy, advising all participants in the election process to play by the rules and comply with the guidelines issued by the Commission.

Nokia And UN Women Collaborate To Further Promote Inclusion And Diversity

Nokia and UN Women have together launched four pilot projects to bolster inclusion and diversity for equality.

These pilots aim to address four different areas such as increasing the number of women employees, raising awareness of cervical cancer and uterine fibroids, promoting STEM (science, technology, engineering, and mathematics) education, and empowering gender-based violence victims.

After the successful execution of the pilots, the two organizations plan to roll these projects out in more countries across the Middle East and Africa region.

The current collaboration follows a Memorandum of Understanding signed recently by Nokia and UN Women, the United Nations entity for gender equality and women’s empowerment, which will guide the global partnership. Nokia has also become a signatory to the Women Empowerment Principles (WEPs), a set of Principles offering guidance on how to promote gender equality and womens empowerment in the workplace, marketplace and community. This collaboration builds on the ongoing partnership of Nokia and UNICEF to increase equitable access to digital literacy, particularly for girls and children with disabilities in Kenya.

As part of the current collaboration, Nokia will work on implementing the WEPs, and UN Women will involve Nokia in its outreach initiatives to promote inclusion and diversity in society. Under this collaboration, the two organizations have launched the following four different pilot projects.

  • Increasing the number of women employees: This project aims to increase the number of women employees in Nokia Saudi. As part of this project, the company will continue to foster a fair and dynamic working environment for female employees. Nokia employees will also reach out to female students in universities through events, panel discussions and technology talks to create awareness and motivate them to join the workforce.
  • Raising awareness of cervical cancer and uterine fibroids: This project aims to help women in addressing cervical cancer and uterine fibroids by creating awareness among them in Tanzania. In this project, Nokia will employ a suitable application with chat and information exchange functions to provide real-time support to women for early prevention of these diseases.
  • Promoting STEM education: This pilot aims to promote STEM education in Kenya. As part of this pilot, Nokia will guide and educate primary and high school girls in the country. The company’s volunteers will curate technical content, manage career talks and organize family events to create awareness about technology and the opportunities it provides.
  • Empowering gender-based violence victims: This project aims to empower gender-based violence (GBV) victims in South Africa by including them in the ongoing certification program of the South African Innovation Hub. Also, in the country, Nokia recently joined hands with Johannesburg-based Forge Academy to provide select victims from underprivileged backgrounds with theoretical, laboratory and on-the-job training to seize opportunities in the fourth industrial revolution (IR 4.0) economy.

Anita Bhatia, Deputy Executive Director for Resource Management, Sustainability and Partnerships, UN Women stated: “When women prosper, societies and economies grow with them. Starting with these pilots, our collaboration with Nokia is designed to create and celebrate a more just and inclusive environment so that more and more women will emerge as global agents of change.”

Nicole Arian Markazi, Head of UN Women Program Lead at Nokia, stated: “We, at Nokia, are committed to inclusion and diversity to drive equal opportunity. By collaborating with UN Women in Saudi Arabia, Tanzania, Kenya and South Africa, we strengthen this commitment. We strongly believe that equality will unleash the full potential of young girls and women to become innovators, entrepreneurs and leaders for a better world.”

 

Ardova Appoints Oladeinde Nelson-Cole As Company Secretary/General Counsel

0

Ardova Plc hereby notifies The Nigerian Exchange Ltd, its shareholders and other stakeholders that the Board of Directors of the Company has confirmed the appointment of Mr. Oladeinde Nelson-Cole as Company Secretary/General Counsel with effect from 1 April 2021.

Mr. Nelson-Cole was appointed acting Company Secretary on 29 July 2019 after the exit of the former Company Secretary, Mr. Akinleye Olagbende.

Ardova
Mr. Oladeinde Nelson-Cole | Brand Spur

Mr. Nelson-Cole is a lawyer with over 14 years of experience spanning Company Secretarial, Corporate Compliance and General Legal Practice. He is a graduate of Lagos State University.

Prior to joining Ardova Plc, Mr. Nelson-Cole was a Senior Associate in the law firm of RouQ and Co.

As the Company Secretary/General Counsel, Mr. Nelson-Cole will continue to guide the Board of Ardova Plc in ensuring strict compliance with regulatory and statutory requirements.

Nestlé Advances Its Forest Positive Agenda In Cocoa In Ghana And Côte d’Ivoire

Nestlé has today reported progress (pdf, 10Mb) in its determination to end deforestation in its cocoa supply chain and ensure regenerative supply chains for forests and communities.

It is aligned with its commitment to source 100% of its cocoa sustainably under the Nestlé Cocoa Plan by 2025.

Deforestation remains one of the pressing issues facing the cocoa sector, especially in West Africa. In 2017, Nestlé joined the public-private Cocoa & Forests Initiative to help end deforestation and restore forests in Côte d’Ivoire and Ghana. In March 2019, the company published a detailed action plan (pdf, 800Kb) to support these collective efforts.

Over the past three years, Nestlé has been working with the governments of Côte d’Ivoire and Ghana, its suppliers, its partners and the cocoa farming communities to scale up its actions. Despite the COVID-19 pandemic, which inevitably impacted certain activities such as mapping the farmers’ lands, farmers’ training, and cookstoves distribution, Nestlé made good progress last year.

Nestlé’s Achievements Include So Far

  • Mapping 85% of the farm boundaries of the 110 000 Nestlé Cocoa Plan farmers in Ghana and Côte d’Ivoire;
  • Distribution of over 1 250 000 native forest and local fruit trees in Côte d’Ivoire and Ghana to make farms more climate-resilient and to diversify farmers’ incomes;
  • Distribution of over 2 million high-yielding cocoa trees in Ghana to restore cocoa-growing farms and boost productivity;
  • Helping more than 10 000 people benefiting from financial support through village saving loan associations in Côte d’Ivoire and Ghana;
  • Distributing 1 075 more efficient and less polluting cookstoves to reduce pressure on forests and help improve family health in Côte d’Ivoire;
  • Engaging over 4 900 individuals in income-generating projects in Côte d’Ivoire in 2020;
  • Training and sensitization of over 10 000 farmers on the importance of protecting forest and agricultural best practices in 2020.

Nestlé recognizes that for a lasting and meaningful impact, in addition to addressing deforestation linked to cocoa, it needs to conserve and restore forests actively while promoting sustainable livelihoods and respecting human rights.

Last year, Nestlé partnered with the Ministry of Water and Forests of Côte d’Ivoire to restore the Cavally Forest reserve, a biodiversity hotspot under threat due to deforestation, and  to enhance the resilience and livelihoods of local communities. Nestlé has kicked off the community consultations with 1 600 people in 66 cocoa villages. It is an important step to foster inclusiveness and ensure success. It will also take an active role in tracking the forest’s carbon stock to evaluate the influence of activities toward reducing greenhouse gas emissions.

All these initiatives contribute to Nestlé’s climate actions to achieve net-zero greenhouse gas emissions by 2050 at the latest. As part of this work, the company is deploying nature-based solutions, like forest conservation and restoration, to absorb more carbon, improve soil health, and enhance biodiversity.

Nestlé will continue to work with all stakeholders to help protect and restore forests, promote sustainable cocoa production and thriving communities, and create a forest positive future for all.

Acute Food Insecurity Soars To Five-Year High Warns Global Report On Food Crises

The number of people facing acute food insecurity and needing urgent life and livelihood-saving assistance has hit a five-year high in 2020 in countries beset by food crises, an annual report launched today by the Global Network Against Food Crises (GNAFC) – an international alliance of the UN, the EU, governmental and non-governmental agencies working to tackle food crises together – has found.

The stark warning from the 2021 Global Report on Food Crises reveals that conflict, or economic shocks that are often related to COVID-19 along with extreme weather, are continuing to push millions of people into acute food insecurity.

Report’s key findings:

The Global Network Against Food Crises report reveals that at least 155 million people experienced acute food insecurity at Crisis or worse levels (IPC/CH Phase 3-5) across 55 countries/territories in 2020 – an increase of around 20 million people from the previous year, and raises a stark warning about a worrisome trend: acute food insecurity has kept up its relentless rise since 2017 – the first edition of the report.

Of these, around 133 000 people were classified in the most severe phase of acute food insecurity in 2020 – Catastrophe (IPC/CH Phase 5) – in Burkina Faso, South Sudan and Yemen where urgent action was needed to avert widespread death and a collapse of livelihoods.

At least another 28 million people faced Emergency (IPC/CH Phase 4) level of acute food insecurity in 2020 – meaning they were one step away from starvation – across 38 countries/territories where urgent action saved lives and livelihoods, and prevented famine spreading.

Thirty-nine (39) countries/territories have experienced food crises during the five years that the GNAFC has been publishing its annual report; in these countries/territories, the population affected by high levels of acute food insecurity (IPC/CH Phase 3-5) increased from 94 to 147 million people between 2016 and 2020.

Additionally, in the 55 food-crisis countries/territories covered by the report, over 75 million children under five were stunted (too short) and over 15 million wasted (too thin) in 2020.

Countries in Africa remained disproportionally affected by acute food insecurity. Close to 98 million people facing acute food insecurity in 2020 – or two out of three – were on the African continent. But other parts of the world have also not been spared, with countries including Yemen, Afghanistan, Syria and Haiti among the ten worst food crises last year.

Key Drivers Behind Rising Acute Food Insecurity In 2020

  • conflict (main driver pushing almost 100 million people into acute food insecurity, up from 77 million in 2019);
  • economic shocks – often due to COVID-19 – replaced weather events as the second driver of acute food insecurity both in terms of numbers of people and countries affected (over 40 million people in 17 countries/territories, up from 24 million and 8countries in 2019); and,
  • weather extremes (over 15 million people, down from 34 million).

While conflict will remain the major driver of food crises in 2021, COVID-19 and related containment measures and weather extremes will continue to exacerbate acute food insecurity in fragile economies.

Statement From The Global Network Against Food Crises

“One year after the declaration of the COVID-19 pandemic, the outlook for 2021 and beyond is grim. Conflict, pandemic-related restrictions fuelling economic hardship and the persistent threat of adverse weather conditions will likely continue driving food crises,” said the European Union (EU), the Food and Agriculture Organization of the United Nations (FAO), the United Nations World Food Programme (WFP) – founding members of the Global Network – together with USAID in a joint statement released with the report.

“The COVID-19 pandemic has revealed the fragility of the global food system and the need for more equitable, sustainable and resilient systems to nutritiously and consistently feed 8.5 billion people by 2030. A radical transformation of our agri-food systems is needed to achieve the Sustainable Development Goals.”

“The protracted nature of most food crises shows that long-term environmental, social and economic trends compounded by increasing conflict and insecurity are eroding the resilience of agri-food systems. If current trends are not reversed, food crises will increase in frequency and severity”.

To address these challenges the Global Network will step up efforts to promote resilient agri-food systems that are socially, environmentally and economically sustainable, and will support major events this year such as the UN Food Systems Summit, the Convention on Biodiversity, the G20 Summit, the Climate Change Conference, and the Nutrition for Growth Summit. It will also cooperate with the G7 initiative to avert famine.

The Global Network emphasizes the need to act urgently and decisively and calls for the international community to mobilize against hunger.

Message From The UN Secretary-General

“Conflict and hunger are mutually reinforcing. We need to tackle hunger and conflict together to solve either…We must do everything we can to end this vicious cycle. Addressing hunger is a foundation for stability and peace,” said António Guterres, Secretary-General of the United Nations, in the foreword of the report.

In March 2021, Guterres established a High-Level Task Force on Preventing Famine, led by the Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, Mark Lowcock, along with FAO and WFP and with the support of OCHA and other UN agencies as well as NGO partners. The Task Force aims to bring coordinated, high-level attention to famine prevention and mobilise support to the most affected countries.

Financial Market: Apr-2021 Review and May-2021 Outlook

Financial Market: Apr-2021 Review and May-2021 Outlook

The Nigerian equity market closed the month in the green as the benchmark index, NSE All-Share Index, returned 2.0% on a month-on-month basis, closing the month at 39,840.2 points.

Consequently, YTD loss moderated to 1.1% while market capitalization printed at N20.9tn at the end of Apr-2021.

Conversely, the money market continued to witness strong bearish sentiments following a sustained uptick in yields at recent PMAs. In the secondary NT-bills market, the average NT-bills yield closed the month at 4.7%, up 61bps m/m from the average yield of 4.1% at the end of March.

Similarly, the bonds market remained bearish as the average sovereign bond yield surged by 211bps m/m to 11.9% in April from 9.8% at the end of March.

The equity market’s positive performance can be largely attributed to positive Q1-2021 earnings releases, particularly in the last week of the month. Blue-chip tickers, such as DANGCEM, BUACEMENT and SEPLAT reported compelling performances, driving bullish sentiments.

In line with our expectations, fixed income rates continued the uptrend with the 364-day NTB paper at the primary auctions closing at 9.75% (prev. 8.0%) at the last auction in Apr2021 and marginal rates on 2027, 2035, and 2045 instruments tracking significantly higher at 12.25%, 13.34% and 13.85% from 10.25%, 11.25% and 11.80% respectively.

This month, we expect the equity market trajectory to remain sideways with bearish sentiments dominating as investors book profits from gains recorded in Apr-2021.

For the fixed income and treasury markets, we expect rates will continue to rise at the primary and secondary markets fueled by dealers’ appetite for higher yields and the government’s need for finances. Thus, we retain our guide of underweighting equities and staying short in the Fixed income market.

Headline Inflation to Reach 18.77% in April 2021

0

Nigeria’s inflation has consistently defied the law of gravity – ‘what goes up must come down’. In April, we are estimating a further increase of 0.6% to 18.77%, after 19 months of consecutive increases.

The debate on whether consumer price inflation is transient or persistent has been raging for months. Many economists argue that inflation cannot be persistent in an economy that is operating below the natural rate of employment.

While some policymakers have attributed the current surge in inflation to output shocks and supply chain disruptions due to insecurity, others are of the opinion that inflation in Nigeria is transient and largely driven by money supply saturation. We are of the view that when economic variables are transient for an extended period, it becomes persistent.

Inflation

Insecurity – A cause or effect of high inflation?

Economists attribute heightened insecurity to rising poverty and misery levels. In Nigeria, the misery index, which is the summation of inflation and unemployment rates, increased to 51.47% from 34.54% in 2018.

However, analysts have attributed the current spike in inflation to heightened insecurity due to supply chain disruptions. There has been a surge in the rate of kidnappings, banditry and hijacks, which is fast spreading to the South West and South East.

The raises the question of whether a causal relationship exists between inflation and insecurity. The states with the highest inflation rates are predominantly in the North East, North West and North Central – Kogi (24.51%), Bauchi (22.24%) and Sokoto (20.7%).

In the last few months, some analysts focused more on the impact of high powered money and FG borrowing from the CBN while others blame high inflation on the pass-through effect of exchange rate on domestic prices. If insecurity challenges linger, Nigeria risks another major food crisis especially at a time when the country faces forex challenges. Food inflation is estimated to increase to 24% in April.

Month-on-month inflation to fall slightly on weak aggregate demand

All inflation sub-indices except for the month-on-month index are expected to follow a similar trend with the headline inflation. The monthly consumer price level is projected to slide by 0.03% to 1.53% (19.95% annualized) in April from 1.56% (20.40% annualized) in March. This is largely due to weak aggregate demand, resulting from reduced consumer disposable income.

Is the recent drop in SSA inflation sustainable?

Nigeria’s inflation has consistently remained above the SSA average in the last five years. The country has the 7th highest inflation rate in Africa. It appears that the inflation trend across SSA region is beginning to decline.

Three of the countries under our review reported lower inflation rates in April, partly due to a stronger currency and lower food prices. While the EIU expects inflation within the SSA region to fall to an average of 8.1% in 2021, Nigeria’s inflation is expected to witness an upward trend before tapering slightly towards the end of the year due to the harvest season and increased forex supply.

Of the SSA countries under our review, only Zambia has increased its benchmark interest rate so far in 2021. It increased its policy rate by 50bps to 8.5%p.a at its February meeting to curb rising inflation. Nigeria could be forced to increase its monetary policy rate in Q2 as inflation continues to rise. This could however be constrained if the GDP numbers come out worse than expected.

Impact on Policy Makers

In spite of the commodity supercycle and gradual economic recovery, most Central Banks have left their monetary policy rates unchanged. The US Fed, at its last meeting, left its benchmark interest rates close to near zero (0-0.25%p.a) despite acknowledging that the US economy is accelerating and inflation is rising.

However, Nigeria might not have the luxury to leave its monetary policy stance unchanged for long. With inflation rising faster than expected, the MPC could lean towards the resumption of a tightening cycle by increasing the MPR by 25bps as a way of protecting the value of the naira in the forex market amongst other measures.

Financial Sector Extends Local Bourse Decline, Plunge 0.92%

Transactions on the Nigeria Local Bourse today (Wednesday) closed in the negative region to extend the previous day’s bearish sentiment, as NGX-ASI shed 0.92%. The price depreciation was sustained by sell-off in four major market sectors, led by stocks in the banking sector.

Accordingly, the market breadth closed negatively, recording 22 losers and 16 gainers.

In summary, the All-Share Index (ASI) declined by 367.97 absolute points, representing a dip of 0.92% to close at 39,433.81 points. While the overall Market Capitalization value lost N192.67 billion, representing a decrease of 0.93% to close at N20.64 trillion. The discrepancy between the ASI and Market Capitalization was a result of price adjustment of MTNN and SEPLAT shares.

LASACO emerged as the top gainer (by percentage points) for today, with a maximum price appreciation of 9.62%, while STANBIC emerged as the top loser (by percentage points) with a maximum price depreciation of -10.00%.

Today’s market loss was driven by price depreciation in large and medium capitalized stocks amongst which are; STANBIC (-10.00%), UNILEVER (-8.21%), COURTEVILLE (-8.00%), INTBREW (-7.02%), VERITASKAP (-4.76%), AIICO (-3.91%), PZ (-3.77%), GUARANTY (-3.65%), NPFMCRFBK (-3.50%), ZENITHBANK (-3.180%), UAC-PROP (-2.56%), FTNCOCOA (-2.50%), GLAXOSMITH (-2.34%)JBERGER (-2.33%), OANDO (-1.96%), UCAP (-1.72%), JAPAULGOLD (-1.69%), WEMABANK (-1.64%), NEM (-1.48%), FBNH (-1.35%), and  FIDELITYBK (-0.44%).

MARKET STATISTICS

CAP N20,637,467,686,883.86 One Day (ASI CHG) -0.92%
Index 39,433.81 One Week (ASI CHG) +1.68%
Volume 349,558,809 One Month (ASI CHG) +1.33%
Value N3,501,054,326.00 Six Months (ASI CHG) +28.29%
Deals 4,554 52 Weeks (ASI CHG) +65.62%
Gainers 16 Losers 22
Unchanged 67 Total 105
YTD Returns -2.08%

Source: Ngxgroup.comGTI Research 

FOREIGN EXCHANGE

The Naira at the official rate remains unchanged to close at N379.00/$1 as at Friday’s position.

The Investors and Exporters (I&E) FX window opened at N410.25 traded high at N422.00, and low at N395.00 and eventually closed at N410.50,  representing a 0.12% appreciation against Tuesday’s position. Also, a total of $42.59 million was transacted through the I&E window today.

MONEY MARKET

Overnight (O/N) rate closed at 15.50%, remain unchanged against Tuesday’s position, while Open Buy-Back (OBB) rate closed at 15.00%,  representing a 0.50% appreciation as against Tuesday’s position.

Sector Performance

Security % Change 
NSE30 -1.10
NSEBNK -1.69
NSECNSMRGDS -0.52
NSEINDUSTR 0.29
NSEINS -0.05
NSELOTUSISLM -0.65
NSEOILGAS -0.15

Top 7 Gainers

Security Previous Close Open Price Close Price Change Price % Change
LASACO 1.56 1.56 1.71 0.15 9.62
LINKASSURE 0.53 0.53 0.58 0.05 9.43
CAVERTON 1.76 1.76 1.92 0.16 9.09
STERLNBANK 1.48 1.48 1.6 0.12 8.11
REGALINS 0.3 0.3 0.32 0.02 6.67
GUINNESS 27.1 27.1 28.7 1.6 5.90
ROYALEX 0.57 0.57 0.6 0.03 5.26

Top 7 Losers

Security Previous Close Open Price Close Price Change Price % Change
STANBIC 50 50 45 -5.00 -10.00
CWG 2.29 2.29 2.07 -0.22 -9.61
UNILEVER 13.4 13.4 12.3 -1.10 -8.21
COURTVILLE 0.25 0.25 0.23 -0.02 -8.00
INTBREW 5.7 5.7 5.3 -0.40 -7.02
VERITASKAP 0.21 0.21 0.2 -0.01 -4.76
AIICO 1.28 1.28 1.23 -0.05 -3.91

Top 7 Traders By Volume

Security Daily Volume Daily Value Close Price
FBNH            71,284,716    523,783,677.65 7.30
ACCESS            40,878,905    309,952,391.45 7.70
EKOCORP            40,000,000    235,999,882.00 5.90
ZENITHBANK            25,025,933    544,351,648.05 21.30
UBA            18,047,166    130,312,910.50 7.20
GUARANTY            15,949,489    464,675,074.15 29.00
JAIZBANK            15,137,688         9,084,146.47 0.60

Top 7 Traders By Value

Security Daily Volume Daily Value Close Price
ZENITHBANK            25,025,933    544,351,648.05 21.3
FBNH            71,284,716    523,783,677.65 7.30
GUARANTY            15,949,489    464,675,074.15 29.00
ACCESS            40,878,905    309,952,391.45 7.70
MTNN               1,593,262    265,530,281.40 169.90
EKOCORP            40,000,000    235,999,882.00 5.90
BUACEMENT               2,791,029    195,790,684.35 77.90