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Bamgbade: Fraudulent developers fueling cases of abandoned properties

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Bamgbade: Fraudulent developers fueling cases of abandoned properties

Chief Olusegun Bamgbade, a real estate developer, is the Chairman, HOB Housing Estates Limited. In this interview with DAYO AYEYEMI, he speaks on the issues of abandoned properties and the challenges of the real estate sector among others. Excerpt:

 

 

Nigeria’s Gross Domestic Products (GDP) grew by 1.5 per cent in the last quarter after nine months the country came out of recession. Are you not worried that the economy is not growing as anticipated?
I am worried. I am particularly worried in view of the looming dangers of stunted economic growth in any given country. The Economic Management Team aren’t doing enough yet. There’s need for serious concerted efforts in raising the GDP of Nigeria.

The general economy and businesses are still very dull; what are you suggesting that government should do to revamp the economy?
I have said it times and times again that government should deliberately create tangible employments and employment opportunities in Nigeria. When people say government has no business in business, I can’t help but laugh out loud. How can a serious minded fellow divorce government from business? Chief Obafemi Awolowo did it in Western region, it brought about the birth of Oodua Industries. Textile industries were built, hotels were built, housing estates were built, among others. Western Nigeria was able to stand even taller than governments of other nations. I have a blueprint for Nigeria in this context, when government is ready, I am available.

Government says it has shared part of money recovered from Abacha’s loot to the poorest Nigerians rather than using it to grow infrastructure. Do you support this?
Sharing Abacha’s loot to the poorest Nigerians is fair if well packaged. The government got a good idea but deployed it poorly. It’s not too late to rejig the system. On infrastructure, government has enough resources for infrastructure. Abacha’s loot, if well packaged, would have assisted a lot of Nigerian poorest population.

As a developer/investor, how do you see the business operating environment in Nigeria?
As a developer/investor, the business operating environment in Nigeria is pathetic. It’s crude. It’s discouraging. It’s disheartening. However, that’s not to say that there’s no room for improvement. There’s need for serious improvements. There’s need for government to dispassionately engage stakeholders on the real issues bedeviling business environment in Nigeria and work towards genuine solutions to ameliorate the human conditions regarding business environment in Nigeria.

The House of Representative committee is currently probing various land allocations to developers in Abuja. What does this portend to developers and investors?
It’s a dangerous trend, but they will find a way round it. Defects will be detected anyway, but the relevant authorities and the concerned parties will find a way to resolve whatever defect so detected. This is to uphold sanity and integrity of real estate development in Nigeria. If the mess detected afterwards are not carefully managed, it will spell a doom for the industry.

Most of the housing projects under the PPP programme of the Federal Government have been abandoned in various states due to reasons best known to these developers. How can this be resolved to see to the completion of the projects?
The answers to this question are as enumerated in my response to the last question. FMBN should look into my submissions and adjust their ways. 40 per cent of developers’ problems are basically the land title signed for them by the Ministry of Lands and Housing. The Development Lease Agreement signed by the Ministry of Land and Housing cannot be honoured by any bank in Nigeria or anywhere else in the world other than Federal Mortgage Bank of Nigeria.
The developers cannot access any loan from any bank with the Development Lease Agreement signed for them. They can only be funded by the Federal Mortgage Bank of Nigeria. That makes the entire concept dead on arrival. Another 40 per cent of developers’ problems rest with the Federal Mortgage Bank of Nigeria that funded them. Because the developers cannot be funded by any other bank except the FMBN, the developers are at the mercy of FMBN.
Where FMBN decides to perform, the developer will succeed. If otherwise, the developer will fail. That is the real reason why the projects are abandoned nationwide except a handful of us including myself who refused to give up. Success is in my DNA, I am not associated with failure. That is why I am permanently on site working to develop the estate.
It will interest you to note that I spend an average of N600, 000.00 monthly on estate’s maintenance to keep the estate alive, aside from the costs of construction of the on-going project. The development however is on a snail pace simply because of limited funds. Since FMBN has not mobilized us with funds accordingly, I resulted to privately fund the estate development within my personal capacity. How many developers can try that? The business of real estate development of our level is not a tea party affair. It’s not for the boys. It’s for real men who have the financial muscles to whether the storm. Also 20 per cent of developers’ problems are the developers themselves.

How do you mean?
Most of the developers are not sincere in their business. They are fraudulent in many ways. They are fraudulent with the EDL. They are fraudulent with the building construction. They are fraudulent with the estate management. They are fraudulent in their own business even against themselves. That’s why they cannot challenge the authorities when confronted with issues. He who goes for equity, goes with clean hands. They have to be truthful in their ways before they can challenge or strive to amend the authorities’ misdemeanours.

What are the best ways to complete the abandoned PPP housing estate?
On the part of the ministry, the best way to see to the completion of the abandoned PPP is for the Ministry of Land to revisit the Development Lease Agreement and reissue Certificate of Occupancy to enable developers secure Estate Development Loans from other sources than FMBN.
On the part of FMBN, the bank should treat developers’ EDLs with business sense. FMBN cannot be processing serious fundamental thought-line; official request; or decisions for two to three years before coming up with one half baked policy idea that will further compound developers’ woes.
We are supposed to be probably on our tenth estate project by now if FMBN had been responsibly alive to her duties and obligations. Remember H.O.B Housing Estate in AKURE is the first success story of the PPP arrangement in the whole of Nigeria. And we achieved this feat within 90 days after the fund was disbursed. The zeal at which we were firing then was cut short by FMBN’s deliberate delay in disbursing funds; FMBN’s policy summersault; and executive redtapism.
FMBN should restructure and digitalise her business activities beginning with EDLs to NHF packaging and remittances. The world has gone digital. There is no point lagging behind. FMBN is overstaffed when compared to service delivery. The state offices are idle, yet they keep recruiting needlessly. FMBN is inadvertently funding the remuneration of the idle staff with funds originally meant for estate development finance. I am not a Prophet of doom, but if FMBN does not prune down the staff strength and digitalise it’s operations, they won’t have loanable funds for real estate development in the nearest future.
I am a stakeholder in the real estate industry

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Aviation

S’African airline cash injection imminent, says it needs more

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S’African airline cash injection imminent, says it needs more

South Africa’s cash-strapped national airline SAA says a government cash injection of 5.5 billion rand ($376 million)approved for the 2019/20 financial year is expected at the end of the month but it still needs more money, a presentation to lawmakers showed on Wednesday.

South African Airways (SAA) has debt of about 12.7 billion rand, consisting of 9.2 billion rand of legacy debt and a 3.5 billion rand working capital facility provided by banks, reports Reuters.

“SAA requires 2 billion rand to fund working capital in FY 2019/20 by December 2019,” the presentation said.

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Aviation

S’African airline cash injection imminent, says it needs more

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S’African airline cash injection imminent, says it needs more

South Africa’s cash-strapped national airline SAA says a government cash injection of 5.5 billion rand ($376 million)approved for the 2019/20 financial year is expected at the end of the month but it still needs more money, a presentation to lawmakers showed on Wednesday.

South African Airways (SAA) has debt of about 12.7 billion rand, consisting of 9.2 billion rand of legacy debt and a 3.5 billion rand working capital facility provided by banks, reports Reuters.

“SAA requires 2 billion rand to fund working capital in FY 2019/20 by December 2019,” the presentation said.

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Aviation

Ethiopian crash victims want 737 MAX documents from Boeing, FAA

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Ethiopian crash victims want 737 MAX documents from Boeing, FAA

A lawyer for victims of Ethiopian Airlines Flight 302 said on Tuesday he wants Boeing Co and the U.S. Federal Aviation Administration to hand over documents about the decision to keep the Boeing 737 MAX in the air after a deadly Lion Air crash last October.

A week after Lion Air Flight 610 nose-dived into the Java Sea, killing all 189 aboard, the FAA warned airlines that erroneous inputs from an automated flight control system’s sensors could lead the jet to automatically pitch its nose down, but the agency allowed the jets to continue flying.

Five months later, the same system was blamed for playing a role when ET302 crashed on March 10, killing all 157 passengers and crew and prompting a worldwide grounding of the 737 MAX that remains in place.

“The decisions to keep those planes in service are key,” Robert Clifford of Clifford Law Offices, which represents families of the Ethiopian crash victims, said at a status hearing before U.S. Judge Jorge Alonso in Chicago.

Nearly 100 lawsuits have been filed against Boeing by at least a dozen law firms representing families of the Ethiopian Airlines crash victims, who came from 35 different countries, including nine U.S. citizens and 19 Canadians.

Families of about 60 victims have yet to file lawsuits but plaintiffs’ lawyers said they anticipate more to come. Most of the lawsuits do not make a specific dollar claim, though Ribbeck Law Chartered has said its clients are seeking more than $1 billion.

The lawsuits assert that Boeing defectively designed the automated flight control system. The system is believed to have repeatedly forced the nose lower in both accidents.

Boeing declined to comment on the lawsuit directly but said it is cooperating fully with the investigating authorities. The manufacturer has apologized for the lives lost in both crashes and is upgrading software. But it has stopped short of admitting any fault in how it developed the 737 MAX, or the software.

The FAA said it does not comment on litigation. The agency has defended its decision not to ground the 737 MAX sooner and has said it is following a thorough process for returning the jet to passenger service.

Clifford, who was appointed lead counsel on Tuesday to represent the majority of plaintiffs suing Boeing over the Ethiopian Airlines crash, said he would pursue two tracks in the case: one for clients who wish to settle with Boeing and another for those who want to push for discovery.

In his role as lead counsel, Clifford will help the different plaintiffs “speak with one voice,” said Ricardo Martinez-Cid of Podhurst Orseck, a law firm that is also representing Ethiopian Airlines crash victims.

Plaintiffs’ lawyers who represent victims of airline crashes generally work for free and receive a percentage of the settlement or award.

Amos Mbicha, who lost his sister and her son in the crash of ET302 which occurred soon after it departed Addis Ababa for Nairobi, said some Kenyan families had not sued yet because they had difficulty choosing between the many law firms seeking to represent victims, reports Reuters.

“You look at the brochures, it all looks like everyone worked on the same cases,” he said. “It’s confusing for people.”

Dozens of lawsuits have been filed against Boeing by families of Lion Air crash victims, who were almost all from Indonesia. Those cases are already in mediation and are not expected to be consolidated with Ethiopian Airlines.

“While the cases share some common issues there are big differences, most importantly the critical evidence of what Boeing did and did not do between October and March,” said Justin Green, a lawyer from Kreindler & Kreindler, who was appointed co-chair of the plaintiffs’ committee on Tuesday.

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Aviation

Bees delay flight for over two hours

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Bees delay flight for over two hours

Bad weather. A technical fault. A late-arriving aircraft. Just some of the reasons your flight might be delayed.

One to add to the list: a swarm of bees.

On Sunday morning, Air India flight 743 from Kolkata to Agartala was delayed by two and a half hours after a swarm of honeybees clamped themselves onto the window of the flight deck.

The swarm took up residence on the left hand window panes, obstructing the pilots’ vision.

Windscreen wipers failed to remove the bees. The swarm was only cleared when the airport fire crew was recruited to use water cannons.

The plane had already been delayed 90 minutes due to a technical fault, before the bee attack added an extra hour’s delay.

The flight to Agartala, in northeast India, takes just 60 minutes.

“The plane left the parking bay at its scheduled departure time, then there was a technical issue and it had to return back to the parking bay,” Kolkata airport director Kaushik Bhattacharjee told CNN. “There was a delay of 1.5 hours due to the ground staff attending to the technical fault.

“After that, there was a bee attack. A swarm of honeybees came and landed on one section of the cockpit glass. Thousands of bees just sat on the left side of the cockpit window blocking the view of the pilot.

“The pilot tried to remove the bees by using windscreen wipers but it didn’t work.

“Airline staff informed the airport authorities and we deployed a fire tender from the fire station located inside the airport. Using a water cannon, they dispersed the bees.”

The plane took off two and a half hours behind schedule. There were 136 passengers on board, including Bangladeshi politician Hasan Mahmud, the country’s Minister for Information.

Kolkata airport — Netaji Subhas Chandra Bose International — is one of India’s busiest, processing 21.8 million passengers a year, with 40 million predicted by 2021.

It is known as one of the country’s most modern airports, using solar panels to generate energy.

Bhattacharjee told CNN that airport staff had carried out checks for bees in the wake of the incident.

“We did not find any beehives on any structures inside the airport,” he said. “They came from outside the airport premises.”

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Energy

Investors turn heat on Big Oil ahead of UN climate summit

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Investors turn heat on Big Oil ahead of UN climate summit

Investors managing $15 trillion in assets turned up the heat on oil and gas sector on Wednesday ahead of a United Nations summit in New York aimed at accelerating efforts to fight climate change.

Energy companies are on the front line of the global transition to a low-carbon economy, with investors potentially on the hook for hefty losses if the companies do not overhaul their business models in time.

In its most detailed analysis of the energy sector, the Transition Pathway Initiative (TPI) said 31 out of 109 energy firms were aligned with commitments governments have so far made under the 2015 Paris Agreement to curb greenhouse gas emissions.

However, of the 50 oil and gas companies assessed, just two – Royal Dutch Shell Plc and BP Plc – were aligned with existing national emissions targets. The remaining 29 companies on track to meet such commitments were all electric utilities.

“We, as a major institutional investor, are concerned that transition risk – the large and growing gap between government targets and company ambitions – is a major source of investment risk,” said Helena Viñes Fiestas, global head of stewardship and policy at BNP Paribas Asset Management.

United Nations Secretary-General Antonio Guterres wants governments to make more ambitious pledges to cut emissions at the U.N. summit on Monday, which he convened to boost the Paris Agreement ahead of a crucial implementation phase next year.

Current pledges by governments to cut emissions are nowhere near enough to meet the Paris target of keeping the rise in average global temperatures to well below two degrees Celsius, with a goal of limiting warming to 1.5 degrees Celsius.

That means that some companies’ targets can bring them in line with existing national plans under the Paris Agreement, but remain far from adequate to avert the worst of the natural disasters and economic damage forecast for a warming world.

TPI, which includes major pension funds and asset owners, said none of the oil and gas companies it assessed are doing enough to align their businesses with the changes needed to meet the Paris temperature targets.

The findings echoed a report published this month by financial think-tank Carbon Tracker, which found that big oil companies had approved $50 billion of projects since last year that will not be viable if governments implement the Paris deal.

By contrast, TPI found that nearly half of the utility companies are aligned with national commitments already made under the Paris Agreement, and more than 20% are on target to meet a temperature rise of below 2 degrees Celsius, the TPI said.

That is partly because some utilities have been quicker to pivot their business models toward renewable energy than oil and gas companies, reports Reuters.

“There is no doubt that oil and gas companies are in a difficult position in navigating the transition to a low carbon economy,” Euan Stirling, global head of stewardship and ESG investing at Aberdeen Standard Investments.

“That makes it all the more important that we have at least some sector constituents who are starting to respond to the climate crisis by repositioning their businesses from the top down in the same way that many power generators have.”

The TPI is one of several investor initiatives launched in recent years aimed at helping boost the quality and effectiveness of investor engagement with companies on climate. Among its other 45 signatories are firms including Legal & General Investment Management and U.S. pension scheme CaLPERs.

“We believe that investors should use their voice to hold top management of investee companies accountable for incorporating climate-related issues in their corporate strategy,” Carola van Lamoen, head of active ownership at Dutch asset manager Robeco.

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Energy

Investors turn heat on Big Oil ahead of UN climate summit

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Investors turn heat on Big Oil ahead of UN climate summit

Investors managing $15 trillion in assets turned up the heat on oil and gas sector on Wednesday ahead of a United Nations summit in New York aimed at accelerating efforts to fight climate change.

Energy companies are on the front line of the global transition to a low-carbon economy, with investors potentially on the hook for hefty losses if the companies do not overhaul their business models in time.

In its most detailed analysis of the energy sector, the Transition Pathway Initiative (TPI) said 31 out of 109 energy firms were aligned with commitments governments have so far made under the 2015 Paris Agreement to curb greenhouse gas emissions.

However, of the 50 oil and gas companies assessed, just two – Royal Dutch Shell Plc and BP Plc – were aligned with existing national emissions targets. The remaining 29 companies on track to meet such commitments were all electric utilities.

“We, as a major institutional investor, are concerned that transition risk – the large and growing gap between government targets and company ambitions – is a major source of investment risk,” said Helena Viñes Fiestas, global head of stewardship and policy at BNP Paribas Asset Management.

United Nations Secretary-General Antonio Guterres wants governments to make more ambitious pledges to cut emissions at the U.N. summit on Monday, which he convened to boost the Paris Agreement ahead of a crucial implementation phase next year.

Current pledges by governments to cut emissions are nowhere near enough to meet the Paris target of keeping the rise in average global temperatures to well below two degrees Celsius, with a goal of limiting warming to 1.5 degrees Celsius.

That means that some companies’ targets can bring them in line with existing national plans under the Paris Agreement, but remain far from adequate to avert the worst of the natural disasters and economic damage forecast for a warming world.

TPI, which includes major pension funds and asset owners, said none of the oil and gas companies it assessed are doing enough to align their businesses with the changes needed to meet the Paris temperature targets.

The findings echoed a report published this month by financial think-tank Carbon Tracker, which found that big oil companies had approved $50 billion of projects since last year that will not be viable if governments implement the Paris deal.

By contrast, TPI found that nearly half of the utility companies are aligned with national commitments already made under the Paris Agreement, and more than 20% are on target to meet a temperature rise of below 2 degrees Celsius, the TPI said.

That is partly because some utilities have been quicker to pivot their business models toward renewable energy than oil and gas companies, reports Reuters.

“There is no doubt that oil and gas companies are in a difficult position in navigating the transition to a low carbon economy,” Euan Stirling, global head of stewardship and ESG investing at Aberdeen Standard Investments.

“That makes it all the more important that we have at least some sector constituents who are starting to respond to the climate crisis by repositioning their businesses from the top down in the same way that many power generators have.”

The TPI is one of several investor initiatives launched in recent years aimed at helping boost the quality and effectiveness of investor engagement with companies on climate. Among its other 45 signatories are firms including Legal & General Investment Management and U.S. pension scheme CaLPERs.

“We believe that investors should use their voice to hold top management of investee companies accountable for incorporating climate-related issues in their corporate strategy,” Carola van Lamoen, head of active ownership at Dutch asset manager Robeco.

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Aviation

Plane makes emergency return to airport after engine fire reported

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Plane makes emergency return to airport after engine fire reported

Officials say an Air China jet bound for Beijing has made an emergency return to Dulles International Airport after reporting an engine fire.

In a statement, the Federal Aviation Administration says that the Air China flight landed safely Tuesday in Washington after reporting an engine fire and that its pilot was in contact with air traffic control at all times.

The FAA says Air China Flight 818 departed Dulles at 4:39 p.m. EDT and returned at 5:54 p.m.

A spokesman for the Washington Metropolitan Airport Authority identified the craft as a Boeing 777, which the aircraft maker says seats from 317 to 396 people, reports The Associated Press.

A spokeswoman with Air China didn’t immediately respond to requests for additional information.

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Business

Zenith emerges 2nd most credible lender in Ghana

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Zenith emerges 2nd most credible lender in Ghana

Z

enith Bank, Ghana, is the second most credible bank in Ghana, according to Credmap Technology Ghana Banking Credibility Index (GBCI).

 

 

According to the firm, the inaugural “credibility-rating” engine is capable of combining crowd-rating and data mining to generate “credibility scores” of individuals and institutions using pooled data about their track record, history, commentary, biography, popular sentiment and reputation.

 

 

The assessment, which covered the 2018 financial year, saw Standard Chartered, Zenith Bank Ghana, Ecobank Ghana, UBA Ghana and Barclays Bank placing 1st, 2nd, 3rd, 4th and 5th respectively.

 

 

The other banks are: Societe Generale (6th), Stanbic Ghana (7th), Fidelity Ghana (8th), Access Ghana (9th) and GCB Bank (10th).

 

 

All 30 of Ghana’s tier-one/universal banks were benchmarked against Credmap’s measures, compared to each other, and then ranked in what became the GBCI, a process that was overseen by a team of senior technical analysts at Konfidants, a management consulting company based in Accra, Johannesburg and Geneva.

 

 

Some major criteria in the computation of the GBCI included executive track record of the board and management membership, educational qualifications of board members and senior management personnel and the emphasis on continuous professional development with the studied banks.

 

 

Others were reputational factors, degree of board independence from shareholder and management control and influence and consistency and accuracy in board management communications as ascertained from comments in the media, advertising, and publications, including official documentation and reports.

 

 

In this inaugural index, the primary focus was on the quality of bank boards and senior management personnel.

 

The Konfidants team believed that in the wake of recent developments in the banking sector, corporate governance and management competence have emerged, by far, as the most critical factors in determining bank performance and success.

 

 

The analysts were able to more rapidly double-check how traditional benchmarks, such as net interest margin, capital adequacy, asset quality, return on equity and return on assets, conceal or reveal the most salient factors in banking governance and reputation.

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Business

Wall Street subdued as focus shifts to Fed meeting

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Wall Street subdued as focus shifts to Fed meeting

U.S. stocks were little changed on Tuesday as investors moved to the sidelines ahead of the Federal Reserve’s two-day policy meeting, while the impact of weekend attacks on Saudi Arabia’s biggest oil refinery faded.

 

Equity markets took a hit on Monday as the attacks wiped out half of Saudi Arabia’s oil production, sending oil prices soaring, while fuelling geopolitical tensions. But President Donald Trump’s statement that he does not want war and a Reuters report that Saudi Arabia was close to restoring 70% of the oil production lost calmed investor nerves.

 

According to Reuters News, the benchmark S&P 500 index .SPX recovered early losses to rise slightly, with the so-called defensive consumer staples .SPLRCS, utilities .SPLRCU and real estate .SPLRCR sectors posting the biggest gains.

 

The energy index .SPNY tracked a drop in oil prices, after recording its best one-day surge since January on Monday. The U.S. central bank concludes its policy meeting on Wednesday, with traders currently expecting a 63.5 per cent chance of a quarter percentage point cut from the Fed this week, down from 88.8 per cent on Friday, according to CME’s FedWatch.

 

“It’s just typical trading on the vigil of a Fed meeting,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. “We haven’t seen any panic from what happened over the weekend. I think (the Fed) will stick with a quarter of a percentage point cut even after the Saudi attack.”

 

Banks .SPXBK, which tend to underperform in a lower interest rate environment, fell 0.95 per cent and were the biggest drag on the S&P 500. Since the last interest rate cut in July, U.S. economic data has shown mixed signals about the domestic economy. While strong retail sales and wage growth have bolstered consumer confidence, a protracted U.S.- China trade war has weighed on manufacturing and business sentiment.

 

Latest data showed U.S. manufacturing output increased more than expected in August, rebounding from a drop in July, while homebuilders’ optimism grew unexpectedly brighter in September. ET, the Dow Jones Industrial Average .DJI was down 22.68 points, or 0.08 per cent, at 27,054.14, the S&P 500 .SPX was up 1.95 points, or 0.07 per cent, at 2,999.91.

 

The Nasdaq Composite .IXIC was up 6.66 points, or 0.08 per cent, at 8,160.21. Among stocks, Chipotle Mexican Grill Inc (CMG.N) rose 3.3 per cent as it added a new steak dish to its menu in the United States for the first time in three years.

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Business

NSE extends decline by N80bn

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NSE extends decline by N80bn

LOW CONFIDENCE

Airtel Africa Plc led losers with a drop of 10 per cent to close at N283.50 per share

 

Trading activities on the floor of the Nigerian Stock Exchange yesterday witnessed another drop in share prices as bears sustained grip on the local bourse following the sell-off that has pervaded the stock market. The local bourse recorded 22 gainers against 15 losers.

 

Consequently, the All-Share Index dipped 67.55 basis points or 0.6 per cent to close at 27,407.04 index points as against 27.574.32 recorded the previous day while market capitalisation of equities depreciated by N80 billion from N13.421 trillion the previous day to N13.341 trillion as market sentiment remained on the negative territory. Meanwhile, a turnover of198 million shares exchanged in 3,830 deals was recorded in the day’s trading.

 

The premium sub-sector was the most active (measured by turnover volume); with 105.2 million shares exchanged by investors in 1,539 deals. Volume in the sub-sector was largely driven by activities in the shares of Access Bank Plc and Zenith Bank Plc.

 

 

Also, the banking sub-sector, boosted by activities in the shares of Sterling Bank Plc and Ecobank Plc, followed with a turnover of 30.3 million shares in 535 deals. Further analysis of the day’s trading showed that in percentage terms, NEM Insurance Plc topped the day’s gainers’ table with 9.74 per cent to close at N2.14 per share while Livestock Feeds Nigeria Plc followed with 9.52 per cent to close at 46 kobo per share. PZ Cussons Plc added 9.32 per cent to close at N6.45 per share.

 

On the flip side, Airtel Africa Plc led the losers with a drop of 10 per cent to close at N283.50 per share while UACProperty Plc shed 9.55 per cent to close at N1.42 per share. NCR Plc trailed with 9.09 per cent to close at N4.50 per share.

 

 

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ABUJA MAN REVEALS (FREE) SECRET FRUITS THAT INCREASED MANHOOD AND LASTING POWER IN 7DAYS

 

… CLICK HERE TO GET IT!

 

 

 

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