Saturday, January 14, 2017
MARKET UPDATE
JANUARY 13, 2017 NIGERIA STOCK EXCHANGE (Market Closed) SUMMARY: All Share Index 26,325.93 Deals 2,653.00 Volume 148,569,099.00 Value 3,758,383,446.99Market Cap 9,058,131,259,973.59TOP GAINERS CONOIL 37.35 (0.85) STANBIC 15.52 (0.49) NB 142.18 (0.18) TOURIST 3.68 (0.17) ACCESS 6.69 (0.12) TOP LOSERS MOBIL 249.86 (-13.15) SEPLAT 370 (-9.99) TOTAL 300 (-4) PRESCO 42.16 (-2.03) JBERGER 34.83 (-1.83) CBN EXCHANGE RATE(NGN)Buying:$USD 304 £GBP 373.5248 EURO 324.1248 SWISS FRANC 301.8268 YEN 2.6611 Selling:$USD 305 £GBP 374.7535 EURO 325.191 SWISS FRANC 302.8197 YEN 2.6698 CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) 53.25 Natural Gas 3.304 (0.031) Gold 1195.90 (-3.90) Silver 16.785 (-0.04) Copper 2.6905 (-0.019) Wheat 424.25 (-2.00) Coffee 149.10 (-0.50) Cotton 72.30 (-0.04) Cocoa 2213.00 (-17.00)

Fredrick Nwabufo

    Adebanwi, Oxford professor, is an inspiration to Africa, says Buhari

Adebanwi, Oxford professor, is an inspiration to Africa, says Buhari

President Muhammadu Buhari has described Wale Adebanwi, an Oxford professor, as an inspiration to Africa.Buhari likened him to Wole Soyinka and Chinua Achebe who put Africa on the world’s knowledge map.Adebanwi, a journalist turned scholar,  was appointed as Rhodes professor in race relations in the school of interdisciplinary area studies at the University of Oxford, United Kingdom – making him [...]

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    Gunmen kidnap 3 female students from Turkish school in Ogun

Gunmen kidnap 3 female students from Turkish school in Ogun

Armed men on Friday kidnapped three female students from the Nigerian Tulip International Colleges (NTIC) in Ogun state.In statement issued on Saturday, Cemal Yigit, spokesman of the school, said five female staff were also kidnapped.“We wish to notify the general public of the unfortunate incident that occurred on January 13, 2017, at the premises of the Nigerian Tulip International Colleges [...]

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    Fraud convict collapses in court before sentencing

Fraud convict collapses in court before sentencing

Adaoha Ugo-Ndagi, a convicted fuel subsidy fraudster, on Friday collapsed in court before she was sentenced.Ugo-Ndagi, managing director of Ontario Oil and Gas, and Walter Wagbatsoma, an oil marketer, were convicted of eight counts of fraud.The duo forged documents to receive N1.9bn from the government for petroleum products they did not supply.Delivering her judgment, Lateefat Okunnu, justice of the Lagos [...]

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    Dabiri-Erewa: to US: You can’t give us $1bn aid and keep $1bn of our stolen wealth

Dabiri-Erewa: to US: You can’t give us $1bn aid and keep $1bn of our stolen wealth

Itse Sagay, chairman of the Presidential Advisory Committee against Corruption (PACAC), on Thursday said Nigeria could lose $550m recovered from the Abacha family to the United States.Speaking on Thursday at a news conference on asset recovery, organised by PACAC and the office of the senior special assistant to the president on foreign affairs and the Diaspora, Sagay said Nigeria had [...]

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    At CBN, ‘concerned Nigerians’ protest high prices of essential commodities

At CBN, ‘concerned Nigerians’ protest high prices of essential commodities

‎A group of Nigerians on Friday staged a protest at the Central Bank of Nigeria (CBN) headquarters over the ballooning prices of essential commodities.The protesters, who refer to themselves as "concerned Nigerians",‎ said that the forex fraud at the CBN was worsening the conditions of already-impoverished citizens.Speaking with TheCable, Deji Adeyanju, convener of the protest, said the CBN had been [...]

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    Supreme court gives Lagos nod to reopen Al-Mustapha’s murder case

Supreme court gives Lagos nod to reopen Al-Mustapha’s murder case

The supreme court has given the Lagos state government the go-ahead to appeal against a judgment of the appeal court acquitting Hamza Al-Mustapha, former chief security officer of the late Sani Abacha, of the murder of Kudirat, wife of the late MKO Abiola.The decision of the apex court followed a motion filed by Oluwayemisi Osusanya, a senior counsel at the [...]

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    UPDATED: Yahoo shuts down briefly — weeks after confirming mail hacking

UPDATED: Yahoo shuts down briefly — weeks after confirming mail hacking

Yahoo, the internet mailing system, shut down about 2:30 pm on Thursday.A bold message indicating the system shutdown on a desktop computer screen reads: "YAHOO! Will be right back... Thanks for your patience. Our engineers are working to resolve the issue."This is coming a few weeks after the internet company announced that the emails of about a billion of its [...]

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    Kanu: I’m a freedom fighter unlike Buhari who overthrew a legitimate govt in 1983

Kanu: I’m a freedom fighter unlike Buhari who overthrew a legitimate govt in 1983

‎Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB), says he is a freedom fighter and not a coupist.Speaking before Binta Nyako‎, justice of the federal high court, Abuja, on Thursday, Ifeanyi Ejiofor, counsel to Kanu, said his client committed no crime by advocating self-determination for the Igbo.‎He said the Biafra agitation predated the administration of President Muhammadu Buhari, [...]

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    Support me in these challenging times, Buhari appeals to Ndi Igbo

Support me in these challenging times, Buhari appeals to Ndi Igbo

President Muhammadu Buhari has appealed to the Igbo to support his government.In the 2015 presidential election, the Igbo voted overwhelmingly for former President Goodluck Jonathan. And they are ardent critics of his government.Buhari made the appeal in a congratulatory message to Nnia Nwodo, the new president-general of Ohanaeze Ndigbo, a pan-Igbo socio-cultural organisation.“President Muhammadu Buhari congratulates Chief John Nwodo on [...]

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    Saraki’s trial will no longer be from day-to-day, says CCT Judge

Saraki’s trial will no longer be from day-to-day, says CCT Judge

Danladi Umar, chairman of the Code of Conduct Tribunal (CCT), says the trial of Senate President Bukola Saraki will not take place from "day-to-day".‎This is contrary to his statement in April 2016 that the trial of the senate president would take place every work day.Earlier, Rotimi Jacobs, counsel to the federal government, which is prosecuting Saraki for false asset declaration, [...]

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    Please free us from this trial, Saraki’s lawyer begs CCT judge

Please free us from this trial, Saraki’s lawyer begs CCT judge

‎Kanu Agabi, counsel to Senate President Bukola Saraki, has appealed to Danladi Umar, chairman of the Code of Conduct Tribunal (CCT), to end Saraki's trial.The nation's number three citizen is facing 16 counts of false asset declaration brought against him by the government, and his trial continued on Wednesday.Welcoming counsel for the prosecution and the defence to the tribunal, Umar [...]

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    APC: Lawan’s emergence as senate leader shows we can resolve our problems

APC: Lawan’s emergence as senate leader shows we can resolve our problems

The All Progressives Congress (APC) has expressed delight at the election of Ahmed Lawan as senate leader.Lawan was the favourite of the APC for senate president, but Bukola Saraki outsmarted the party to clinch the position. Afterwards, the party leadership in the upper legislative chamber was plunged into a crisis.To break the impasse, the APC offered Lawan the position of [...]

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    EXTRA: ‘Igbo Jews’ protest Nnamdi Kanu’s trial

EXTRA: ‘Igbo Jews’ protest Nnamdi Kanu’s trial

Members of the Indigenous People of Biafra (IPOB) in Jewish garments besieged the federal high court in Abuja on Tuesday to protest the trial of Nnamdi Kanu, their leader.The protesters gathered outside the premises of the court after they were refused entry by security.A detachment of armed police officers, operatives of the Department of State Services (DSS) and men of [...]

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    APC caucus removes Ndume as senate leader

APC caucus removes Ndume as senate leader

The All Progressives Congress (APC) caucus in the senate has removed Ali Ndume as the leader of the upper legislative chamber.In a letter to Senate President Bukola Saraki, the caucus appointed Ahmed Lawan, a senator from Yobe north, as its new leader.But speaking with journalists at the national assembly complex, Ndume said he was unaware of his removal.A source told TheCable [...]

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    Kanu: DSS killed 9 people who came to visit me in prison

Kanu: DSS killed 9 people who came to visit me in prison

Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB), has alleged that the Department of State Services (DSS) killed nine persons who came to visit him in prison.Speaking through Ifeanyi Ejiofor, ‎his counsel, in court, on Tuesday, Kanu alleged that the "nine persons were arrested after they came to visit, traced to their homes in Abia, and credible information [...]

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    Senate kicks against closure of Abuja airport, summons Fashola, Amaechi

Senate kicks against closure of Abuja airport, summons Fashola, Amaechi

The senate has expressed reservations about the decision of the federal government to close the Nnamdi Azikiwe International Airport, Abuja, summoning three ministers.Those to appear before the upper legislative chamber are: Rotimi Amaechi, minister of transportation; Babatunde Fashola, minister of power, works and housing, and Hadi Sirika, minister of state for aviation.It also summoned Sadique Abubakar, chief of air staff, [...]

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Exchange Rates

January 14, 2017USDGBPEUR
INTERBANK316.13385.11336.46
LAGOS491600515
KANO487595510
PH491600518
ABUJA492600516
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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