Kimpossible

EQUITIES MARKET At the close of trade today, the local bourse recorded a positive performance following the rally in  FBNH (+6.62%) ,  DANGCEM (+6.53%)  and  NESTLE (+6.36%) . As a result, the benchmark Index was rose by 189bps to settle at 39,592.29 basis points. Accordingly, YtD loss strengthened to  -1.68% . Investors' sentiments was positive with 24 gainers against 14 losers.  NNFM (+6.88%) ,  FBNH (+6.62%)  and  DANGCEM (+6.53%)  led the gainers, while  MANSARD (-10.00%) ,  JBERGER (-10.00%)  and  VANLEER (-9.92%)  led the losers. On a sectoral basis, the  Industrial ,  Consumer  and  Banking   Indices rose by   3.57% ,  3.13%  and  0.80%   due to buying interest in  DANGCEM (+6.53%) ,  NESTLE (+6.36%)  and  ZENITHBANK (+0.86%)  respectively. On the flip side, the  Insurance  and  Oil & Gas   indices lost ...

  EQUITIES MARKET Mixed trading continued today in the local bourse as the All-Share Index was unchanged at 38,858.99 basis points. Consequently, YtD loss settled at  -3.51% . Investors' sentiments was negative with 14 gainers against 15 losers.  SKYAVN (+9.88%) ,  WEMABANK (+5.13%)  and  FLOURMILL (+1.87%)  led the gainers, while  MANSARD (-9.70%) ,  AFRIPRUD (-8.59%)  and  REGALINS (-6.82%)  led the losers. On a sectoral basis, the  Consumer ,  Oil & Gas  and  Industrial   Indices rose by   0.10% ,  0.04%  and  0.02%   due to buying interest in  FLOURMIL (+1.87%) ,  OANDO (+0.19%)  and  WAPCO (+0.44%)  respectively. On the flip side, the  Insurance  and  Banking   indices lost  3.39%  and  0.30%  respectively - supported by sell-offs in  MANSARD (-9.70%)  and  ZENITHBANK (-0.64%) . Activity lev...

by Femi Asu The Nigerian National Petroleum Corporation spent a total of N905.27bn on petrol subsidy in eight months amid rising global oil prices, the latest data obtained from the corporation show. With the international oil benchmark, Brent crude, nearing $80 per barrel on Monday (up 2.07 per cent at $79.71 per barrel as of 7:00pm Nigerian time), the landing cost of imported petrol and subsidy are expected to increase. The subsidy, which the NNPC prefers to call ‘value shortfall’ or ‘under-recovery’, resurfaced in January this year as the government left the pump price of petrol unchanged at N162-N165 per litre despite the increase in global oil prices. The Federal Government had in March 2020 removed petrol subsidy after reducing the pump price of the product to N125 per litre from N145 following the sharp drop in crude oil prices. The NNPC, which has been the sole importer of petrol into the country in recent years, has been bearing the subsidy cost since it resurfaced. Data from ...

 The website of Nigeria’s digital currency, eNaira, went live on Monday This comes days to its official launch on October 1st as earlier disclosed by the Central Bank of Nigeria governor, Godwin Emefiele. The site, on its welcome note, said the eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. It reads: Below are some things you should know This comes days to its official launch on October 1st as earlier disclosed by the Central Bank of Nigeria governor, Godwin Emefiele. The site, on its welcome note, said the eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. It reads: “eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments. eNaira h...

The website of Nigeria’s digital currency, eNaira, went live on Monday. According to the website, www.enaira.com, “eNaira is a CB -issued digital currency that provides a unique form of money denominated in Naira.” The CBN stated that eNaira would serve as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments. It added that eNaira had an exclusive operational structure that was both remarkable and nothing like other forms of central bank money. “There are several benefits from a central bank-issued digital currency in Nigeria, and this cuts across different sectors of, and concerns of the economy,” it stated. According to the CBN, the eNaira app would feature and reflect brand values centered around ease of use and efficiency while bearing in mind security. “We have developed this App with a deeper understanding of customers, what they value, their abilities and also their limitations,” it stated. The web...

The equities listed on the Nigerian Exchange Limited shed N117.03bn last week, with analysts attributing the market downturn to profit-taking by investors. The NGX All-Share Index and market capitalisation declined by 0.57 per cent to close the week at 39,261.01 basis points and N20.456tn respectively, from 39,485.65bps and N20.57tn recorded the previous week. At the end of trading on the floor of the exchange on Friday, the NGX Oil & Gas, NGX Industrial, NGX Banking and NGX Consumer Goods indices finished lower as the NGX Insurance, NGX AFR Div Yield, NGX MERI Growth, NGX Meri Value and NGX Sovereign Bond indices appreciated by 0.79 per cent, 0.11 per cent, 0.03 per cent, 0.31 per cent and 0.65 per cent, respectively. The NGX ASeM and NGX Growth indices closed flat. A total turnover of 1.34 billion shares worth N8.65bn in 19,830 deals were traded last week by investors, compared to a total of 1.03 billion shares valued at N8.18bn that exchanged hands in 18,102 deals the previous w...

 Oil, power companies’ bank debts rise to N6.14tn The debts owed to Nigerian banks by oil and gas operators as well as power companies have risen above N6tn, the latest data obtained from the Central Bank of Nigeria have shown. The energy firms increased their bank debts to N6.14tn as of June 2021 from N5.94tn at the end of 2020. The N6.14tn represents 28.05 per cent of the N21.89tn loans advanced to the private sector by the banks as of June 2021, according to the sectoral analysis of banks’ credit by the CBN. Oil and gas firms, which received the biggest share of the credit from the banks, increased their debt by N140bn to N5.32tn by June 2021 from N5.18tn in December 2020. The debt owed by power firms to the banks rose to N823.28bn in June 2021 from N763.22bn in December 2020, the CBN data showed. Oil firms operating in the downstream, natural gas and crude oil refining subsectors owed N3.99tn as of June 2021, up from N3.93tn at the end of last year, while those in the upstream ...

Sunday Aborisade The Federal Inland Revenue Service may lose over N2.4tn revenue to the 36 state governments in 2022 if it loses its appeal against a Federal High Court verdict which barred it from collecting the Value Added Tax and Personal Income Tax. The N2.4tn is what the FIRS projects to collect from the VAT if retains the authority to collect consumption based tax, a document available to our correspondent has shown. The FHC sitting in Port Harcourt, the Rivers State capital, had on August 10 ruled that states and not the FIRS have the legal rights to collect VAT and income tax. The FIRS has appealed the judgement. Meanwhile, the governments of Lagos and Rivers states have expressed their readiness to begin the collection of Value Added Tax in accordance with the judgment. These are in spite of the opposition by the FIRS, which already filed an appeal against the judgment. Some northern states say they prefer the Federal Government to continue collecting the tax. The Joint Senate...

Ziaddinè Chahoudi I’m surprised when it comes to the question, no one ever mentions this nation: Russia This country has conquered a large chunk of territory and their invasions against their neighboring countries, as well as subsequent treatments of the neighboring people, can allow Russia (including former USSR and Imperial eras) to be one of the worst colonizers in the history. They invade, and colonize some for a brief of times, both with different methods but all can be listed as “colonialism”. Here is how the Russians conquered: Poland: the Russians massacred and murdered many Poles throughout the Russian Deluge at 1650s to 1989, the day Russia had officially stopped its oppression of Poland. It is unclear how many Poles were slaughtered prior to Katyn, but it could have reached 1 million, very much that time. Following genocide in Katyn, the raze of Warsaw, and communist rule, Poland was brutally looted, stolen and taken by Russians away from their country. Ukraine: Ukrainians h...

  Manuel Neuer I want to focus your attention specifically on legal ways to improve your financial situation online and without investing. The Internet is rapidly spreading all over the world, and the question: «How to earn online?» is asked more and more often. You can start with the freelance exchange, work at home, have a flexible schedule, and a good income. Here are some tips: Choose a profession where you can grow up all the time. If you’re considering new fields – I strongly recommend you look into new automation technologies. Check the ability to work in this specialty without experience or with minimal experience. Then you will have the opportunity to start working (or working part-time), gradually increasing your level. You can try the airSlate Academy is a super useful FREE tool for those who want to learn automation, start a new career. I believe that online learning and certification are what can help individuals better understand their needs and capabilities during th...

  Pavel Fekula The AK family of weapons are simple, reliable, easy to manufacture and they work. Their long-stroke gas piston design might not be the lightest or most elegant design, but it works. Sure, there are more accurate and better engineered guns out there these days. However, the AK is legendary, because of its reliability. The gun has a reputation of being able to keep running no matter what its owners put it through.

the UTME score, the candidate’s father, John Ifenkpam, approached an Enugu-based lawyer, Ikeazor Akaiwe, who wrote to JAMB for another opportunity for the boy to retake the examination and demanded N1 billion as damages. According to Oloyede, the lawyer said the N1 billion was to cover for the physical and emotional trauma the boy had been through from being offered “two separate scores.” The candidate was said to have claimed that his UTME scores from 2019 till 2021 had been “altered” by the board, thereby denying him the opportunity to study his desired course — Medicine. On Friday, the candidate, his father and lawyer travelled to Abuja from Enugu State following an invitation by the management of the board led by Oloyede. Initially, the boy was given few minutes to “come clean” in a closed session with his father and lawyers about the results he was parading but insisted that his original score from the examination was 380. After back and forth, the board tendered evidence to...