Daily Archives: Mar 28, 2013

NSE Market Capitalisation Rises By N24bn

Trading on the Nigerian Stock Exchange closed  for the week on bullish note on Thursday with the market capitalisation appreciating by N24 billion.

This was due to price gains by some highly capitalised equities.

The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened at N10.71 trillion, grew by 0.22 per cent or N24 billion to close at N10.73 trillion.

Also, the All-Share Index increased by 67.35 points or 0.20 per cent to close at 33,536.24 against the 33,468.89 posted on Wednesday.

NAN reports that NewGold recorded the highest price gain, rising by N11 to close at N2,466 per unit

Nestle came second on the gainers' table with N10 to close at N950, while Total gained N8.05 to close at N169.05 per share.

Okomuoil appreciated by N1.90 to close at N72.30, while Lafarge Wapco gained N1.71 to close at N76 per share.

Market analysts attributed the growth to improved 2012 financial result and dividends declared by some companies within the week.

On the other hand, Dangote Cement for the second consecutive day led the losers' chart, lost 71k to close at N148.50 per share.

It was followed by International Breweries with a loss of 25k to close at N21.20, while NAHCO Aviance lost 21k to close at N7.49 per share.

May and Baker dropped 11k to close at N2.19, while Africa Prudential Registrar lost 8k to close at N1.62 per share.

 The volume of shares traded grew by 49.58 per cent as 456.72 million shares valued at N3.58 billion exchanged in 7,340 deals.

NAN reports that this was in contrast with 305.32 million shares worth N3.39 billion traded in 5,473 deals on Wednesday.

Skye Bank emerged the toast of investors, accounting for 74.90 million shares worth N473.38 million.

UBA Capital trailed with 34.73 million shares valued at N42.96 million, while Unity Bank traded 34.45 million shares worth N28.29 million.

NAN reports that the stock market will re-open on April 2, as Friday and Monday have been declared public holidays to mark the Easter celebration.

 

Continue ReadingNSE Market Capitalisation Rises By N24bn

Group demands N100m compensation over killing of corps member

The League for Human Rights, based in Jos on Wednesday demanded N100 million compensation from the Nigerian Army over the alleged ``extra-judicial killing'' of a 26-year-old NYSC member.

Making the demand in a statement issued in Jos, the group alleged that the corps member, Wagley Dauda, was shot dead by a soldier at NASCO Area of Jos on Feb. 16.
 
The statement entitled: `Extra-Judicial Killing of Wagley Dauda, said that the killer-soldier was attached to the Special Task Force (STF) deployed to restore peace in Plateau.
 
The Director of the organisation, Mr Nankin Bagudu, who signed the statement, said the brutal murder of Dauda at about 11a.m. on the fateful day was done by soldiers of the STF who mounted a checkpoint in the area.
 
He said that Dauda met his untimely death as a passenger in a taxi marked, EW 336 AA, after soldiers at the checkpoint accused the driver of driving against traffic.
 
Bagudu said that at around PIPC Quarters, a soldier whose identity is still shrouded in secrecy came over and stopped all vehicles that drove against traffic.
 
``He ordered them to drive back but while complying, a soldier shot at the driver and in the process the bullet hit and killed Dauda who was a back seat passenger.
 
``Dauda has a wife and is a staff of the University of Jos, he later died at JUTH that same day,“ the statement said.
 
Bagudu noted that efforts to see the STF Commander over the incident had been futile as he had directed the bereaved family to the driver of the cab in which Dauda was killed, claiming that the STF had nothing to do with the death.
 
The organisation said the family was more devastated over the attitude of the STF Commander and had decided to ask for the handing over of the soldier to the police for prosecution.
 
While asking for a compensation of N100 million to the family for ``the brutal and unprovoked killing of their bread winner'', the league also demanded a retraction of the statement of the STF Media Officer, Capt. Salisu Mustapha, which claimed that the driver tried to escape and did not subject himself to search at the time.
 
In the same vein, Dauda's family in a letter addressed to the STF Commander, Gen. Henry Ayoola, said that Dauda was a member of their family and called for an audience with the STF.
 
The letter, jointly signed by Mr Sati Watley and Mr Markus Watley, said that the STF had made a verbal promise to them after the incident to bear the cost of the burial but regretted that the commander had been shunning meeting with them.
 
``The family found it extremely shocking on Monday when we went to present to the commander the funeral service programme.
 
``We were further shocked when we were told that the STF had nothing to do with the death of the deceased and that the family should see the driver of the commercial vehicle.
 
``We wish to request that you give us audience to discuss this matter so that a better understanding and arrangement is reached,” they pleaded.
 
Efforts to get the views of the STF was, however, futile as the Media Officer, Capt. Salisu Mustapha, failed to respond to calls and SMS put to him.

Continue ReadingGroup demands N100m compensation over killing of corps member