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Trading Rebounds on NGX, up by 0.07%

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Trading on the nation’s bourse returned to positive territory on Tuesday due to investors’ interest in some blue chips.

Specifically, the All-Share Index, which opened at 39,434.69 inched higher by 25.99 points or 0.07 per cent to close at 39,460.68.

Similarly, the market capitalisation rose by N13 billion to close at N20.

559 trillion from N20.
546 trillion achieved on Monday.

Thus, month-to-date gain increased to 2.

4 per cent, while year-to-date loss moderated to 2.0 per cent.

The positive performance was driven by investors’ buy-interests in banking, industral goods and consumer goods stocks.

The market’s positive performance was driven by price appreciation in large and medium capitalised stocks which are; Lafarge Africa, Zenith Bank, Dangote Sugar Refinery, Ecobank Transnational Incorporated and Morison Industries.

Analysts at Afrinvest Ltd. expressed optimism that the stock market would witness some gains in the next trading session.

“In the next trading session, we expect to see mild gain driven by strategic positioning in bellwether banking stocks, as first half, 2021 earnings release deadline nears crescendo.”

However, the market closed negative with 17 gainers in contrast with 18 losers.

FTN Cocoa Processors led the losers’ chart in percentage terms by 9.09 per cent to close at 40k per share.

Courteville Business Solutions followed with 8.82 per cent to close at 31k, while Sovreign Trust Insurance lost eight per cent to close at 23k per share.

UACN dipped 6.55 per cent to close at N10.70, while Multiverse Mining and Exploration shed 4.76 per cent to close at 20k per share.

Conversely, Morison Industries dominated the gainers’ chart in percentage terms with 10 per cent to close at N1.54 per share.

Regency Alliance Insurance followed with 9.52 per cent to close at 46k, while Tripple Gee & Company rose by 9.09 per cent to close at 96k per share.

Consolidated Hallmark Insurance garnered 8.51 per cent to close at 51k, while Jaiz Bank gained 6.90 per cent to close at 62k per share.

The total volume of trades declined by 6.87 per cent to 196.81 million units valued at N1.45 billion exchanged in 3,881 deals.

This was against a total of 211.33 million shares worth N2.03 billion transacted in 3,939 deals on Monday.

Transactions in the shares of Courteville Business Solutions topped the activity chart with 22.45 million shares valued at N7.34 million.

Sovereign Trust Insurance followed with 21.31 million shares worth N5.07 million, while Wema Bank traded 16.94 million shares valued at N14.59 million.

United Bank for Africa traded 15.54 million shares worth N11.69 million, while FBN Holdings transacted 10.84 million shares valued at N80.63 million. (NAN)

DEFENCE

NAF Airstrikes kill Terrorists, Destroy 25 Illegal Refineries

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The Nigerian Air Force (NAF) airstrikes have eliminated scores of terrorists in Kaduna and Zamfara states, and destroyed 25 illegal refining sites in Imo and Rivers States.

The Director, Public Relations and Information, NAF, AVM Edward Gabkwet, made this known in a statement on Sunday in Abuja.

Gabkwet said the Air Component of Operation Whirl Punch had continued in its efforts to track, locate and eliminate the terrorists responsible for the recent upsurge of terrorists’ activities.

He said that intelligence had revealed that terrorists responsible for recent attacks on civilians, abductions and cattle rustling within Shiroro Local Government Area of Niger were domiciled in Kaduna State.

According to him, additional intelligence revealed the sightings of these terrorists relocating from Alawa Forest in Niger, to their stronghold in Malum Forest in Igabi Local Government Area of Kaduna State.

“Consequently, the Air Component planned and executed an Air Interdiction mission on the terrorists’ stronghold at Malum Forest on Aug 21.

“Battle damage assessment and feedback from local sources revealed several of the terrorists were eliminated as a result of the strike.

“Similar strikes were also conducted on terrorists’ hideouts at Bayan Ruwa in Maradun Local Government Area of Zamfara.

“The terrorists were tracked to the zinc roofed structures in a vegetated area with few footpaths and a river line North West of the location.

“The targets were then acquired and engaged in successive passes,’’ he said.

In the Niger Delta, Gabkwet said that the air component of Operation Delta Safe destroyed 25 illegal refining sites and overhead tanks in Ohaji/Egbema in Imo and Degema and Cawthorne Channel in Rivers.

He said that a leaking pipeline was observed with the leakage spreading across over 150 metres radius in Greenville in Rivers.

According to him, the leakage has its attendant negative consequences on the vegetation, aquatic habitats and farmlands. (NAN)

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DEFENCE

Troops Kill Boko Haram Commander, others in Borno

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The Nigerian Army announced on Sunday that its troops had neutralised a notorious Boko Haram commander, Abu Rijab, and other terrorist fighters in an offensive operation on Saturday.This was made known in a post on the Nigerian army’s official X Handle.It said that the operation took place in Bula Daloye, Bama Local Government Area of Borno.

It said the successful operation was in addition to the surrender of numerous terrorists and their families to the troops as a result of sustained pressure against their enclaves.
Army said the troops also apprehended several criminal suspects and recovered arms and ammunition.“Following an intense firefight, the troops overpowered the terrorists, neutralising three, including a wanted Boko Haram commander Abu Rijab.
“The operation led to the recovery of two AK-47 rifles and mobile phones.“Additionally, eight terrorists and their families surrendered to troops in Gwoza Local Government Area.“The same troops also apprehended two suspects in Konduga Local Government Area with 52 bags of illicit drugs intended for supply to terrorists,” it said.The post also revealed that troops operating in Taraba apprehended the chairman of Gassol Local Government Area Hunters’ Association, Alhaji Adamu Tanko, for selling an AK-47 rifle to a suspected terrorist.It said that investigation had revealed that the weapon had been recovered during a joint operation against terrorists in Boki Lamba, a border town with Plateau.In Plateau, the service said its troops apprehended two suspected criminal elements in the Rikkos area of Jos North Local Government Area.According to the post, troops recovered a fabricated rifle and mobile phones containing images of various calibres of arms and ammunition.“The Chief of Army Staff, Lt.-Gen. Taoreed Lagbaja, has commended the troops for their resilience and commitment.“He also expressed gratitude to the public for their continued support of the Nigerian army, sister services, and other security agencies through credible and actionable information about criminal activities,” it added. (NAN)

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We Won’t Falter in Protecting key National Assets –CAS 

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The Chief of Air Staff(CAS), Air Marshal Hassan Abubakar says the Nigerian Air Force (NAF) will continue to take vital steps towards protecting key national assets against criminal elements.

Abubakar stated this at the matriculation and combined graduation of set 2 students of the Nigerian Air Force College of Nursing Science and Critical Assets Protection Squad Course 5, of Regiment Training Centre on Friday in Kaduna.

Abubakar said, “As a fighting force, we shall continue to take vital steps towards protecting our key assets across the country.

”This is not just from agitating demonstrators, but also from terrorists, insurgents, economic saboteurs and other criminal elements in our society.

”We have plans toward improving the efficient and manpower capacity of all personnel of the Nigerian Air Force(NAF).”

He stressed that human beings were the most important in every system.

Abubakar said, “You can have expensive and sophisticated equipment and facilities, if the humans managing the system are not adequately trained and properly motivated, then that system will definitely fail and vice versa.’

He, therefore, said that part of his key enablers command philosophy was deliberate training and mission-oriented force development.

Abubakar said, “This is why we are glad today to have been able to graduate the trainees from the critical assets protection course and the basic nursing course.”

He stressed that the two courses were particularly very important considering the contemporary happenings.

The CAS explained that the critical assets protection course was critical to

 NAF, citing the recent protests.

He said, ”They turned violent, accompanied by destruction of government facilities, attacks on some government critical national assets and looting in some states.”

Abubakar, therefore, said the graduates of the critical assets protection course were properly trained and educated to be able to handle such situations.

According to him, the more personnel are trained on the course, the more the NAF would be able to protect the nation’s critical national assets from external aggressors and internal saboteurs, criminals, insurgents, terrorists and their likes.

The CAS also said that considering the exodus of medical practitioners from Nigeria, the basic nursing course would bridge the gap.

Abubakar said, “The more we are able to train doctors and nurses, the faster we close the gaps and make sure we have a very effective and efficient health care system not only for the NAF, but for the whole country at large.

“To the graduates, you must have it at the back of your minds that your profession is a noble calling, requiring compassion, dedication and expertise.”

He reminded the graduates that they were distinct from other healthcare providers.

”You have a wide scope of practice and approach to medical care, just as you play an integral role in promoting health, preventing illness, and caring for all individuals.

”They include those who are disabled or are physically or mentally ill.

“In NAF, you will be the backbone of our medical services, providing critical care to our personnel, their families as well as vulnerable civilians in need of medical attention.

“We have quite a number of civilian students, some of whom we also trained free of charge as part of our corporate social responsibility,”Abubakar said.

He appreciated President  Bola Tinubu for his unwavering support to  NAF.

The Report says that awards were given to the graduates who distinguished themselves in the course of study.(NAN)

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