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Investors Gain N795bn as GTCO Lists N4.706bn Shares

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The Nigerian stock market opened the week on a positive note to add N795 billion to the portfolios of investors.

The performance was driven by the listing of 4.706 billion ordinary shares of Guaranty Trust Holding Company Plc(GTCO) at N44.50 per share.

Accordingly, the market capitalisation which opened at N63.

645 trillion, increased by N795 billion to close at N64.
440 trillion.

The All-Share Index also rose by 0.79 per cent to close at 104,418.95, against 103,598.46 recorded on Friday.

As a result, the Year-To-Date(YTD)return advanced to 1.45 per cent.

Market breadth closed positive with 39 gainers and 30 losers on the floor of the Exchange.

On the gainers’ chart, Beta Glass led by 9.98 per cent to close at N65, RT Briscoe followed by 9.92 per cent to close at N2.77 per share.

Access Corporation added 9.88 per cent to close at N27.80, Chellarams Plc rose by 9.83 per cent to close at N4.47 and Sky Aviation appreciated by 9.80 per cent to close at N35.40 per share.

On the losers’ chart, MRS led by 10 per cent to close at N180.90, Transcorp Hotel trailed by 9.97 per cent to close at N114.65 per share.

Eunisell dropped 9.95 per cent to close at N11.40, JohnHolt went down by 9.64 per cent to close at N7.50, while Caverton declined by 9.40 per cent to close at N2.12 per share.

Trading activity on the NGX was robust, with the value of transactions up by 54.72 per cent.

Investors traded 518.28 million shares across 17,196 deals in value of N13.3 billion, compared with 569.63 million shares exchanged in 11,282 deals worth N8.6 billion posted in the previous session.

Access Corporation led the activity chart in volume with 51 million shares exchanged across 1,053 deals, while Zenith Bank led in value of deals worth N1.7 billion.

Ahead of the week, Analysts at Cowry Asset Management Ltd., had predicted that the current positive market sentiment is expected to persist.

The analysts said this would be supported by the release of corporate earnings and anticipated corporate actions.

They noted that the financial results published so far have been encouraging, providing a foundation for sustained price support and attracting fresh capital inflows into the market.

“Moreover, the prevailing low valuation of many stocks continues to create opportunities for investors to buy into value and strategically reposition their portfolios.

“However, the market may experience bouts of volatility as the earnings season progresses.

“Mixed macroeconomic data and upcoming economic events are likely to influence market sentiment,

particularly for companies with December year-end financials,”they said.(NAN)

NEWS

Tinubu Moves  to Ascertain   Accurate Census Figures, Funding    

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Bola Tinubu has said that he would soon set up a committee to align the census budget to the current financial realities of government.

The President announced this on Monday at a meeting with officials of the National Population Commission (NPC) at the State House, Abuja.

Mr Nasir Kwarra, the Chairman of NPC and other members were at the State House to brief the President on progress made so far on the exercise.

The President said that the National Identity Management Commission(NIMC) must be part of the review, and that the nation last held a census in November 2006.

“We must ascertain who we are, how many we are, and how to manage our data.

“Without an accurate census, we can’t successfully plan for employment, agriculture, and food sovereignty.

So many problems come up without accurate data,” President Tinubu said.

He reiterated his commitment to ensuring accurate and reliable figures from the national census to strengthen development planning and improve Nigerians’ living conditions through more efficient social security.

Tinubu noted that government incentives, such as the sale and distribution of fertilisers, could be easily improved upon with more reliable data and demographics.

The President told the delegation that biometric capturing should be central to the process, with multiple identification features, including facial and voice recognition.

“We should work on our financial muscle well in place to lift our burden before we go and meet development partners for the census. We should work out the figures before discussing the role of development partners.

“This stop-and-go activity on the census cannot work with me. So, we better have a definite path.

“I will set up a committee for you to look at the issues critically and do a source and application of resources. Where can we get help, and what can we lift before we embark on proclamation?” the President asked.

Sen. Abubakar Bagudu, the Minister of Budget and Economic Planning, said the census data would be central to future planning and resource distribution.

“At a retreat for the ministers in 2023, Mr President, you reiterated your commitment to the census, so there is no doubt about your desire and commitment to have the census.

“In fact, at the last Federal Executive Council meeting, you asked me what the problem was, and I told you it was simply an issue of lack of ability to fund the census.

“The NPC indicated that 40 per cent of the funding for the 2006 census came from development partners,” Bagudu stated.

Bagudu noted that the enumeration done by NPC so far had been helpful.

“Mr President, we have been having ecosystem meetings to link the identity agencies, even the geo-spatial chaired by the ministry, because of our mandate as the supervising ministry of the National Bureau of Statistics (NBS),” said the minister.

In his presentation, the NPC chairman said the last census took place in 2006, and 19 years later, the figures were no longer relevant in planning, particularly for key sectors that directly impacted the population.

He said 760,000 tablets had been acquired and stored with the Central Bank of Nigeria (CBN), assuring the commission would engage with development partners to seek support whenever President Tinubu proclaimed the new census. (NAN) 

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Rangers Sack Manager Phillipe Clement after St. Mirren Defeat

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Rangers Football Club have parted ways with manager Philippe Clement following Saturday’s 2-0 home Scottish Premiership defeat by St Mirren.

The decision to sack the 50-year-old Belgian comes one year and four months after he took the job, with Rangers 13 points adrift of rivals Celtic in the standings.

“Rangers would like to put on record their sincere thanks to Philippe for his hard work and dedication during his spell in charge.

“A further update from the club will follow in due course,” the Glasgow club said in a short statement on Sunday.

Clement has guided Rangers to the Europa League last 16, where they face Fenerbahce next month.

They were however knocked out of the Scottish Cup by second-tier Queen’s Park this month and lost the League Cup final to Celtic on penalties in December.

(Reuters/NAN)

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Ecobank, Code 14 Partner to Teach Coding

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Ecobank Nigeria, a subsidiary of Ecobank Group, has partnered with Code 14 Labs to expand access to coding education for children across Nigeria.

Mr Austene Osokpor, Head of Corporate Communications at Ecobank, announced the partnership in a statement on Sunday.

The initiative leverages Code 14 Labs’ interactive coding workbooks, including “Andrew Teaches”, and its teacher network to offer affordable annual training and proficiency certification to students.

As part of the collaboration, Ecobank will utilise its extensive operational network across Africa to provide nationwide and pan-African access to coding education.

Code 14 Labs will contribute its educational technology and trusted community, ensuring high-quality teaching that delivers tangible learning outcomes for students and reassurance for parents.

At the signing of the Memorandum of Understanding (MoU) in Lagos, Adeola Ogunyemi, Head of Consumer Banking at Ecobank Nigeria, said the partnership reflects the bank’s commitment to bridging the digital gap.

She highlighted how the initiative aligns with Ecobank’s mission to equip children with essential skills for success in an increasingly digital world.

Ogunyemi was represented by Victor Yalokwu, Head of Consumer Products and Segments.

“At Ecobank, we recognise that financial literacy and digital education are closely linked. This belief led to the creation of MyFirst Account, a product for children under 16.

“It encourages smart financial habits from an early age. By introducing students to coding through Code 14’s mobile app, we nurture problem-solving, creativity, and digital confidence,” Ogunyemi said.

Otaru Daudu, Executive Director of Research and Technology at Code 14 Labs, praised the partnership.

Daudu expressed confidence that, with additional partners, they will achieve their goal of training 50,000 learners to proficiency level.

He added that students will gain proficiency in HyperText Markup Language (HTML) and Cascading Style Sheets (CSS), essential programming languages for global internet communication.

“Code 14 Labs is committed to scaling critical education components through technology-driven inclusion,” Daudu said.

Parents and guardians interested in enrolling their children are encouraged to open a savings product designed for those under 16. (NAN)

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