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Equity Market Reverses Gain by 0.09%

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The equity market, on Wednesday, reversed its previous session’s gain by 0.09 per cent leading to N50 billion loss for investors.Selloffs in Guaranty Trust Holding Company(GTCO), Oando Plc, Transnational Corporation, Julius Berger, among others declined stocks, pulled the market performance down.

Specifically,the market capitalisation shed , from an opening on N55.
626 trillion to close at N55.576 trillion.
The All-Share Index also dropped 0.09 per cent or 88 points to close at 96,715.04 points, against 96,802.80 points recorded on Tuesday.Consequently, the Year-To-Date (YTD) return declined by 29.34 per cent.Market breadth closed positive with 32 gainers and 25 losers on the floor of the Nigerian Exchange Ltd.
(NGX).On the gainers log, Caverton led 31 other advanced stocks by 9.95 per cent to close at N2.10 per share. On the other side, Computer Warehouse Group(CWG) led 24 other declined stocks on the losers log by 10 per cent to close at N5.40 per share.Analysis of the market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 33.86 per cent.Investors exchanged 600.04 million shares valued at N8.81 billion in 9,546 deals in contrast to 406.19 million shares valued at N13.31 billion traded in 12,241 deals posted previously.On the activity chart, Jaiz Bank led in volume with 237.24 million shares, while Oando led in value in deals worth N2.44 billion.(NAN)

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Explosion: Jigawa Distributes Relief Materials to 210 Affected Families

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The Jigawa State Emergency Management Agency (JISEMA) has distributed relief materials to the affected families of Majia tanker explosion, which occurred in Taura local government area of the state.

The items distributed by the agency on Saturday in Majia town include 25kg bags of rice, 25kg bags of millet, cartons of spaghetti, Maggi cube, seasoning, detergents, soap, semolina, gallons of vegetable oil and 110 rubber mats.

Dr Mairiga Haruna Mairiga, Executive Secretary of the agency, said the materials were donated by the National Commission for Refugees, Migrants and Internally Displaced Persons, the National Emergency Management Agency, and JISEMA.

Mairiga said this after the distribution, that the items were distributed to the families of the 210 people affected by the tanker explosion.

Some of the beneficiaries who received the items, commended the Federal and State governments as well as wealthy individuals who assisted them since the incidence in October.

Mr Muhammad Habibu, father to a deceased victim, said the relief materials would assist them at a time that they lost a helper.

Another beneficiary, Mr Auwal Abdullahi, whose son is on admission at Rashid Shekoni hospital in Dutse, said the materials would reduce the hardship encountered due to the incident.

They commended JISEMA for coming to their aid and prayed to God to continue guiding the state Governor Umar Namadi, towards the right direction.(NAN)

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Education

Veritas University Graduates 795 in 13th Convocation Ceremony

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The Veritas University, Abuja, on Saturday, graduated a total of 795 students in various disciplines from six facilities during its 13th Convocation ceremony

Report says that 716 of the graduands bagged first degrees while 79 graduated from the post graduate school.

56 if the first degree graduands came out with first class honours, 329 with second class upper division, 291 with second class lower division and 40 with third class.

The Vice-Chancellor of the university, Prof.

Hyacinth Ichoku, said that the impact of the institution had reflected in its standard of education.

Ichoku said the students had recorded outstanding breakthroughs by winning awards for the school and country both at the national and international levels.

”Our students have continued to shine in the last years. The Software Engineering Department of the institution won the African Global Engineering Competition.

”We have also won the Commonwealth debating championship as well as an AI competition involving 150 university,” he said.

He added that the institution had inaugurated its endowment fund with the aim to generate funds to address the infrastructural need of the university.

He also said that the institution had just completed the construction of two separate hostels, each to accommodate 500 students, while also expanding its digital hub that would facilitate international teaching and learning.

He said pledged that the institution was planning the construction of its faculty of engineering and innovation.

In a goodwill message, the Acting Executive Secretary, National Universities Commission (NUC), Chris Maiyaki, lauded the institution its achievements.

Maiyaki said that the milestone resulted from years of hardwork, resilience and commitment in inculcating academics and moral values for the educational advancement of the country.

The institution’s Pro-chancellor and Chairman of Governing Council, Dr Matthew Kukah, said that the country was at the crossroads as a result of numerous challenges the country is faced with.

Kukah said that with the emergence of a new terrorist group, there was need for the country to brace up to this challenge to avert future problems.

He charged the graduating students to deliver on the confidence reposed in them to help the country find a lasting solutions to some of the challenges.

Highlight of the event included award of prizes to the outstanding students in their various departments and faculties.

Prominent Nigerians also bagged the institution’s honorary doctorate degree award.

The honorees were the Asagba of Asaba Kingdom, Prof. Epiphany Azinge, and the Executive Secretary, Sahara Power Group, Kolawole Adesina.

Others are Archbishop Emeritus of Ibadan Archdiocese, Most Rev. Alaba Job and Archbishop Emeritus of Owerri Archdiocese, Most Rev. Anthony Obinna.(NAN)

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NEWS

Abortion Allegation Against Military: CDS Hails Outcome of Investigation

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The Chief of Defence Staff, Gen. Christopher Musa, has hailed the outcome of investigation on the allegation of forced abortion leveled against the Nigerian military by the International Committee of the Red Cross ( ICRC) and Reuters.

Musa made this known in a statement by the Director Defence Information, Brig.

-Gen. Tukur Gusau, on Saturday in Abuja.

Musa commended the Special Independent Investigative Panel on Human Rights Violations in Counter Insurgency in the North East for exonerating the Armed Forces of Nigeria (AFN) from indictments regarding allegations on forceful abortions and other infractions in the sub-region.

He recalled that the report of the panel specifically stated that the allegations of systematic abortions, torture, rape and extra juducial killings levelled against the military were false.

The CDS commended the 7- man panel led by retired Justice Abdu Aboki for painstakingly carrying out a thorough job since its inauguration in March 2023 by the Nigerian Human Rights Commission.

He reaffirms the commitment of the armed forces to the defence of human rights and resolve to ensure that peace reigns in the country.

According to him, no amount of false accusations will distract the armed forces from exercising its constitutional mandate of protecting the territorial integrity of the nation. (NAN)

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