NEWS
Equity Market Appreciates by N563bn
The Nigerian stock market on Friday ended the week with N563 billion gain.
Specifically, the market capitalisation which opened at N56.730 trillion, gained 0.99 per cent or N563 billion to close at N57.293.
The All-Share index also rose by 0.99 per cent or 996 points to close at 101,330.
85, as against 100,335. 3 recorded on Thursday.Buy interests in MTN Nigeria, Zenith Bank, Dangote Sugar, Geregu and BUA Cement drove the market’s positive performance.
Consequently, the Year-To-Date (YTD) return rose to 35.52 per cent.
Analysis of the market activities showed that trade turnover was higher than the previous session, with the value of transactions up by 12.
11 per cent.Meanwhile, the market breadth closed positive with 28 equities on the gainer’s table and 21 others on the laggard’s.
On the gainer’s table, MTN led by 9.99 per cent to close at N221.40, Dangote Sugar followed by 9.98 per cent to close at N55.65 per share.
National Salt Company of Nigeria (NASCON) gained 9.97 per cent to close at N52.40, Ikeja Hotel added 9.87 per cent to close at N6.68, while Deap Capital Management and Trust Plc rose by 8.62 to close at 63k per share.
Conversely, FTN Cocoa Processors led the losers table by 9.80 per cent to close at N1.38, C&I Leasing lost 8.66 per cent to close at N3.48, Guinness Nigeria shed 8.39 per cent to close at N42.05 per share.
Also, Guinea Insurance trailed by 7.89 per cent to close at 35k, ABC Transport dropped 7.69 per cent to close at 78k per share.
Meanwhile, 358.12 million shares valued at N19.88 billion were exchanged in 10,786 deals, compared to 554.72 million shares worth N17.73 billion exchanged in 9,708 deals posted previously.
Transcorp led the activity chart in volume with 92.87 million shares valued at N1.57 billion, TransPower followed in value with 30.51 million shares worth N11.65 billion.
United Bank of Africa (UBA) sold 26.19 million shares worth N520.23 million, Access Corporation traded 23.28 million shares valued at N465.45 million.
Guaranty Trust Holding Company (GTCO) also sold 18.04 million shares worth N734.49 million.(NAN)
NEWS
Ecobank Nigeria Bags Client Excellence Award
Ecobank Nigeria, a subsidiary of Ecobank Group, has been conferred with the Client Excellence Award by the Deutsche Bank AG, for exceptional institutional cash management performance.
This is contained in a statement issued on Wednesday in Lagos.
Mr Andreas Voss, Chief Country Representative, Deutsche Bank AG, commended the feat recorded by the Ecobank.
Voss said the award reflected Ecobank’s payment efficiency and cash management excellence.
He noted that the bank’s commitment to excellence, open communication, and proactive strategies contributed to the significant achievements of both institutions.
“Ecobank’s dedication to excellence and collaborative spirit have made them an invaluable partner.
It was an absolute pleasure working with Ecobank.“Their processing of Straight Through Processing (STP) transactions is a prime example, as Ecobank achieved an STP rate above 99 per cent for foreign currency payments and international settlement services.
“This success underscores the bank’s high SWIFT payment standards, facilitating rapid beneficiary account credits,” he said.
Acting Head of Corporate Banking at Ecobank Nigeria, Segun Anjorin, acknowledged Deutsche Bank as a valuable partner.
According to him, the Client Excellence Award symbolises the strong partnership and collaboration between the two banks.
He reiterated Ecobank’s commitment to providing quality in payment efficiency and cash management, highlighting how STP implementation enhanced operational efficiency and ensured compliance with global payment standards.
Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany.
The investment banking company, founded in 1870 in Berlin, is dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange. (NAN)
NEWS
Foundation Unveils Project to Dismantle Barriers Against PWDs’ Access to Buildings
Cedar Seed Foundation (CSF), a disability inclusive organisation, has unveiled the Accessibility 365(A365) Hall of Fame and Shame project.
The project is to dismantle physical and social barriers preventing Persons With Disabilities(PWDs) from accessing buildings in Abuja.
The Foundation and its partners, Network of Women with Disabilities (NWD), Joint National Association of Persons with Disabilities (JONAPWD), and MacArthur Foundation made this known during the launch of the project in Abuja.
Executive Director and Founder, CSF, Lois Auta, said that the project underscored the need for inclusive infrastructure in Nigeria’s public spaces due to concerns about the inaccessibility of some public facilities to PWDs.
Auta said that a building is deemed inaccessible if it lacks ramps, elevators, dedicated parking space for PWDs and accessible restrooms.
She listed the Federal Secretariat, Abuja – Phase 1, Eagle Square Restaurant, Maitama General Hospital, and Newton Park Hotels and Resort, in Wuse Zone 4 as examples of buildings inaccessible to PWDs.
She listed others to include the National Open University of Nigeria Special Study Centre in Garki 2, and Farmcity Park in Wuse 2.
She also listed Wuse Market, Nwakpabi Plaza in Area 3, Children Amusement Parks and Zoo in Asokoro and St. Jude Catholic Church, Kubwa.
“A recent survey conducted by CSF on infrastructure accessibility in Abuja reveals the substantial challenges PWDs face in accessing public spaces despite national and international policies.
“This leaves PWDs to struggling for basic access. Many buildings in Abuja, including critical government and healthcare facilities, do not meet accessibility standards, highlighting the disconnect between policy and practice.
“The findings led to the development of two distinct ends of the accessibility spectrum,” she said.
According to Auta, while some buildings made it to the hall of shame, others made it to the hall of fame by keeping to the standards.
“Those in the hall of fame include Transcorp Hilton, Cedar Crest Hospital, Safehost Schools, Ecumenical Centre, British High Commission, and Millennium Park.
“Others are Tobix Garden, Drumstix, Standard Chartered Bank and Jabi Lake Mall,” she said.
She said that the primary goals of A365 are to advocate for stronger enforcement of accessibility policies, empower PWDs to become advocates and raise public awareness about the significance of accessible infrastructure.
She said through media campaigns, trainings sessions for women with disabilities and public advocacy, CSF had shown commitment to educating the public and holding duty bearers accountable for creating a truly inclusive society.
“By spotlighting both accessible and inaccessible public spaces in Abuja, we hope to inspire greater commitment to accessible standards across Nigeria.
“This is because without barriers, there is no disability. With our halls of fame and shame, we recognise the progress made and underline the work that still needs to done to make society accessible for everyone,” she said
The Finance Officer of CSF, Janet Alabede, said that under the Nigeria Disability Act 2018, several provisions ensured PWD’s equal access.
Alabede said that it aligned with the national Act, and the United Nations Convention on the Rights of Persons with Disabilities (CRPD).
He said that it offered additional guidance on accessibility, adding that despite the legislative strides, the real challenge lied in executing the mandates and ensuring impact in the daily lives of PWDs.
Ms NseAbasi Ufford, Communication and Programme Office, CSF, said that the A365 project focused on making infrastructure accessible by holding establishments accountable and recognsing those that set an example in the field of inclusivity.
Ufford said that it was also a call to action on government, private and Abuja residents to take action towards reinforcing accessibility standards, supporting accessibility improvement, and empowering PWDs.
CSF encouraged policy makers, community leaders and the general public to support the movement through advocacy, funding or collaboration to break down physical and social barriers and make Nigeria accessible for all.
This is to inspire a commitment to inclusive infrastructure, and to foster a collective sense of accountability, Ufford said.(NAN)
NEWS
Zamfara to Implement N70,000 Minimum Wage soon—HoS
The Zamfara Government says it will implement the N70,000 minimum wage very soon, the State Head of Service, Allhaji Ahmad Liman, has said.
Liman, who disclosed this at a press briefing in Gusau on Wednesday reiterated Gov. Dauda Lawal administration’s commitment to promoting the welfare of the civil servants in the state.
He said that Lawal has already promised to pay N70,000 minimum wage to the state civil servants.
“You know the state government set up a committee for the civil servants verification and that of the implementation of the 70,000 minimum wage.
“The two committees have been working day and night to complete the exercise,” he said.
Liman emphasised that the committee’s responsibility was to provide an accurate framework of civil servants data in the state for immediate implementation of the minimum wage.
“The welfare of workers is a top priority for our administration, I am very confident that the implementation of the new minimum is the top priority agenda of Gov. Lawal.
“The two committees conducting the ongoing exercises are expected to complete their work by the end of this month of November,” he stated.
Liman said that as soon as the committees complete their work and present their report to the governor he would approve the new minimum wage.
He said, “You know, the ongoing exercise is necessary to address various irregularities in the civil service sector inherited by the previous administration.”
The head of service mentioned ghost workers and over payment among the irregularities discovered at the ongoing verification exercise.
“We discovered a single general hospital in the state with 22 medical doctors receiving salary monthly,
“The ongoing exercise discovered only two doctors are real workers in that hospital, all the remaining 20 doctors were fake workers.
“There was also an issue of a secondary school teacher receiving N140,000 as his monthly salary, but the committee discovered that he was receiving N700,000,” he explained.
Liman further disclosed another issue of a medical doctor receiving N700,000 as his monthly salary but he was discovered by the committee receiving over N1 million.
“There are a lot of issues related to the civil service sector in the state, I believe at the end of the ongoing exercise, the details of the findings of the committee will be made available to the public.
“I am therefore appealing to the civil servants in the state to remain calm, the state government under Gov. Dauda Lawal is committed to their welfare,” he explained.(NAN)