Tag: points

  • Okorocha to Ihedioha: stop using my name to score cheap points

    Okorocha to Ihedioha: stop using my name to score cheap points

    Imo State Governor Rochas Okorocha, at the weekend, cautioned former House of Representatives Deputy Speaker Emeka Ihedioha to stop using his name to score cheap political reasons.

    The governor urged the former lawmaker to purge himself of his “abysmal performance” during his days at the National Assembly.

    He insisted that Ihedioha’s attempt to soil his name in newspapers would not help him win the 2019 governorship election, if he contests.

    A statement by the governor’s Press Secretary, Sam Onwuemeodo, reads: “…Okorocha has read the lengthy interview granted to Saturday Sun of April 8 by former Deputy Speaker of the House of Representatives, Chief Emeka Ihedioha, in which told his usual stories and insulted the governor.

    “In less than four weeks, Chief Ihedioha has granted three interviews, all on Governor Okorocha, and in each of the interviews, he skipped talking about the 12 years his party, the Peoples Democratic Party (PDP), governed the state and the 12 years he spent in the House of Representatives because he knew they were all abysmal.

    “In the latest interview, Chief Ihedioha talked about Governor Okorocha’s style of governance and how he was robbed in the 2015 governorship election and so on. In all the interviews, he was very painstaking not to accuse Governor Okorocha of non-performance.

    “Again, we have also decided not to be reacting to Chief Ihedioha’s constant media attacks on Governor Okorocha because we have discovered that they do all these to give outsiders the erroneous impression that they are still relevant in Imo politics when, in actual fact, they have all gone into political oblivion.

    “The fact is that Chief Ihedioha sustained his growth in politics – from 2003 to 2015 – through name-dropping. That ugly development ended in 2015. Today, he does not have any other name to drop. And if he runs for councillorship in his ward today, he will fail woefully.

    “In 2003, he dropped the name of Atiku Abubakar to grab the ticket of the party and then went to the House of Representatives. He also continued to drop the name of (former President) Goodluck Jonathan until that gimmick was forced to stop in 2015.”

  • Plateau Utd extend lead to five points

    Plateau Utd extend lead to five points

    • Katsina United, Gombe United,  two others held at home

    Plateau United opened up a five points lead at the top of the NPFL after they defeated Niger Tornadoes 2-0 in a Match Day 9 tie played at the Rwang Pam Stadium, Jos yesterday.

    The Jos side broke the resistance of the Ikoh Allah Boys in added time of the first half when Kabiru Umar struck before the second goal in the second half made the day safe for the Jos side.

    In Katsina, Katsina United could not hold on to their first half lead after they allowed Shooting Stars to equalise in the second half to have a share of the spoils at the Mohammed Dikko Stadium yesterday.

    Sani Nasiru put Katsina United ahead in the 27th minute from the penalty spot but the Oluyole Warriors found the leveller in the 82nd minute through Olaniran Kayode.

    Nasarawa United were also held at home by the visitors, Sunshine Stars at the Lafia Stadium.

    The Solid Miners shot ahead in the 53rd minute from the spot kick through Suraj Ayeleso but the same goalkeeper was culpable for the Owena Whales’ equaliser scored by Sunday Oluwadare in the 61st minute.

    The woes of the Remo Stars continued before their fans after they were held to a 1-1 draw at home at the Gateway International Stadium, Shagamu yesterday.

    Victor Mbaoma netted his fourth goal of the season and the Sky Blue Stars’ opener in the 14th minute but Tony Okpotu scored his first goal of the season and Lobi Stars’ leveller oin the 49th minute.

    Gombe United and Akwa United fired blanks at the Pantami Stadium in another Match Day 9 tie yesterday.

  • ‘Four points of attack against heart attack’

    ‘Four points of attack against heart attack’

    A new joint scientific statement from the American Heart Association and World Heart Federation shows that cardiovascular diseases (CVDs) are responsible for six million premature deaths per year. This could rise to eight million by 2025 worldwide.  World’s leading experts in heart health converged on WCC 2016 in Mexico City to debate on how to reverse this trend and inspire action. OYEYEMI GBENGA-MUSTAPHA was there.

    Your heart beats about 100,000 times a day. This is about 70 times per minute. The heart is a hollow, muscular organ; its major purpose is to circulate blood, which carries oxygen and nutrients around the body, including itself. For it to maintain this optimal function, four things must be avoided: High salt intake, hypertension, tobacco, and overweight/obesity.

    A new scientific statement, “The Heart of 25 by 25: achieving the goal of reducing global and regional premature deaths from cardiovascular diseases and stroke” has warned that premature deaths from cardiovascular diseases (CVDs), which is already the number one cause of death around the world with a global cost of nearly US $863billion, could rise by up to 30 percent in women and 34 percent in men in the next decade if the risk factors are not ‘aggressively addressed’ by health practitioners and policymakers worldwide.

    The joint statement from the America Heart Association (AHA) and World Heart Federation (WHF) studied global data on premature deaths from CVD in 30 to 70-year-olds. The research found that CVDs are responsible for almost six million premature deaths per year, but concluded that this could rise to nearly eight million by 2025. Breaking this figure down by region this represents considerable increases in premature deaths by 2025 including: Sub-Saharan Africa – 48 percent increase in women and 52 percent increase in men.

    According to Director, Nigerian Heart Foundation, Dr Kingsley Akinroye, Cost-effective measures to reduce CVD risk factors such as obesity, tobacco use, salt regulation, and hypertension already exist, but they’ve not been widely implemented. He said governments at all levels have a vital role to play in ensuring improved heart-healthy environments in the county, by providing opportunities for people to make heart-healthy choices, through a combination of public education and national regulations such as salt targets.

    He said the World Heart Federation and its members are putting a spotlight on creating heart-healthy environments and calling for a world where people do not face overwhelming displays of unhealthy fast food or unwholesome school meals, all of which often contain high levels of salt.  Too much salt is a hidden killer. Excess salt leads to higher blood pressure, which is one of the main risk factors for cardiovascular disease, which poses a large economic burden to society.

    “Limiting sodium, or salt, to 2,000mg a day is an important part of maintaining a healthy heart and treating heart failure. With a low Ejection Fraction (EF), your kidneys get less blood than they should. This makes them unable to rid the body of excess water and salt. So eating too much salt can lead to even more fluid buildup. It also increases your blood pressure, which makes the already weakened heart work harder. Many studies have looked at the health benefits from reducing salt in various parts of the world; successfully implementing national targets like salt reduction could not only save thousands of lives each year but also avoid millions of naira in health care expenses and thousands of cases of poverty from medical bills. Salt target could reduce CVD deaths by 11 percent.  By reducing the risk of developing CVD in the first place, it would also prevent households from having to pay costly health care fees, which can lead to additional financial deprivation. The money will be saved mostly among middle-class families.”

    Consultant Physician/Cardiologist, Lagos University Teaching Hospital (LUTH), Idi Araba, Dr Akinsanya Olusegun-Joseph explained that the risk of both stroke and coronary disease increase as the blood pressure rises above 110/75. Reducing the blood pressure in hypertensive patients, even those with mild hypertension, lowers the risk of stroke. The target blood pressure in this setting is not well defined, and should be individualised. A goal of <130/80 mmHg seems reasonable for most patients. If you have high blood pressure (hypertension), it is important to attempt to identify and exclude reversible (secondary) causes. The major goal of high blood pressure (antihypertensive) therapy is the reduction of cardiovascular disease (including stroke). In most persons with hypertension, especially those age >50 years, the primary focus should be on achieving a blood pressure <140/90 mmHg since that is directly associated with a decrease in CVD complications. In patients with hypertension and diabetes or renal disease, the BP goal is <130/80 mmHg. If you fall into the prehypertension range (120–139/80–89), the doctor will likely recommend lifestyle changes, including- Lose excess weight, exercise, limit alcohol to two drinks a day for men and one drink a day for women, cut back on salt and quit smoking.

    On the role of tobacco as a factor in CVDs, Vice President, World Heart Federation/African Heart Network, Dr Vash Mungal-Singh said the risk increases with the number of cigarettes smoked and has been reported to increase the incidence of MI 6-fold in women and 3-fold in men compared to nonsmokers. “The chemicals in tobacco smoke harm blood cells and can damage the function of the heart and the structure and function of blood vessels. This damage increases the risk of atherosclerosis. Smoking decreases the tolerance for physical activity and increases the tendency for your blood to clot. It decreases the HDL (good). Risk for heart disease increases greatly if one smokes and have a family history of heart disease. Smoking also creates a higher risk for peripheral artery disease including aneurysms.

    “Smoking is also an important risk factor for stroke. Inhaling cigarette smoke produces several effects that damage the cerebrovascular system. Women who take oral contraceptives and smoke increase their risk of coronary artery disease and stroke significantly. Over time, CAD can lead to chest pain, heart attack, heart failure, arrhythmias or even death. Smoking by itself is a major risk factor for heart disease. When combined with other risk factors—such as abnormal cholesterol levels, high blood pressure, overweight, or obesity and/or diabetes —smoking further raises the risk of heart disease. Smoking also is a major risk factor for peripheral arterial disease (PAD). PAD is a condition in which plaque builds up in the arteries that carry blood to the head, organs, and limbs. People who have P.A.D. are at increased risk of heart disease, heart attack, and stroke. It is also important to avoid other people’s smoke. The link between secondhand smoke and heart disease is well known. Each year about 38,000 people die from heart and blood vessel disease caused by other people’s smoke. Non-smokers who are exposed to secondhand smoke at home or at work increase their risks of developing heart diseases by 25 to 30 percent. It will do a lot of good to quit smoking if one already has heart disease, as the lungs can begin to heal themselves as soon as one stops harming them with more smoke.”

    On how obesity/overweight leads to CVD, Dr Akinroye said overweight and obesity is a medical condition in which excess body fat has accumulated to the extent that it may have an adverse effect on health, leading to reduced life expectancy and/or increased health problems. Body Mass Index (BMI), a measurement which compares weight and height, defines people as overweight when their BMI is between 25 kg/m and 30 kg/m, and obese when it is greater than 30 kg/m. Obesity increases the likelihood of various diseases, particularly heart disease, type 2 diabetes, high blood pressure, certain types of cancer, and osteoarthritis. Obesity is most commonly caused by a combination of excessive dietary calories, lack of physical activity, and genetic susceptibility, although a few cases are caused primarily by genes, endocrine disorders, medications or psychiatric illnesses. Since many of the negative effects of obesity on health are manifested in chronic diseases, it is encouraging that control of other risk factors for cardiovascular disease, such as high cholesterol and hypertension, has improved over the past 40 years, particularly among those who are overweight or obese. An important exception to this trend is diabetes, the prevalence of which is at an all-time high and continues to increase rapidly. Improved treatment of obesity-related diseases is thus vital to improving the nation’s health. The primary and best treatment for obesity is proper nutrition and physical exercise. In severe cases, surgery (gastric bypass) may be needed to reduce stomach volume and the ability to absorb nutrients from food.”

    Mrs Mungal-Singh said: “The conclusions of this study are clear: to stop people dying prematurely from cardiovascular disease we need both the political will and a firm commitment from health leaders to put in place some progressive strategies right now.

    “To help health leaders enact practices and policies to meet these targets and protect their populations from premature cardiovascular deaths the study also makes several practical recommendations on how to meet these targets, including: Laws to enact smoke-free indoor work places, public places and public transportation. Higher taxes on tobacco products in order to fund tobacco control programmes, and complete bans on all forms of advertising and promotion of tobacco products. Policies to reduce sodium in packaged foods, and public awareness campaigns around diet and physical activity. Funding drug therapy and counseling for people who have previously had or are at high risk of having a heart attack or stroke. And fiscal methods that increase the price of foods high in saturated and trans fats and sugar.”

     

  • Enyimba goalkeeper disappointed to drop points at Akwa

    Enyimba goalkeeper disappointed to drop points at Akwa

    Enyimba goalkeeper Femi Thomas has told AfricanFootball.com his side deserved to beat hosts Akwa United on Wednesday in a Week 21 game of the Nigeria Professional Football League (NPFL).

    He said the 2-2 draw is not the true reflection of the play but admits a point is better than nothing. The result also means Enyimba lost the leadership of the Nigeria league to closest rivals Sunshine Stars.

    “It was a good game for both sides, but in my opinion, we deserved to win the game,” Thomas told AfricanFootball.com.

    “The 2-2 draw was not the true reflection of the game because we created chances and couldn’t convert them. The draw was better than losing anyway. And I must praise the officials for good officiating of the game.”

  • Giwa, Heartland tie more than points, says Shuaibu

    Giwa, Heartland tie more than points, says Shuaibu

    Giwa FC top scorer, Ibrahim Shuaibu, has said more than the three maximum points are at stake in the clash against Heartland.

    The Tin City side will host the Owerri outfit in the Nigeria Professional Football League (NPFL) match day 16 clash on Sunday at their adopted home, Ahmadu Bello Stadium in Kaduna.

    Shuaibu said the quest to upstage NPFL leading top scorer and Heartland marksman, Bright Ejike, will be uppermost in his mind in the clash.

    “Beyond the three points to win in the clash there is the personal agenda to upstage Heartland’s Bright Ejike as NPFL top scorer.

    “Ejike leads the goal scorer’s chart on eight goals while I come close second on seven goals so I’m targeting at least, two goals to help me climb to the top chart.

    “I know the race for the top scorer’s gong has just started but I strongly believe that my name will not be missing at the top when a roll call will be made.

    “However, key for us in the match is three points to further improve our position on the league log. I quite understand that Heartland are a good side with some quality players that can ruffle feathers in a match so certain to come out tough.

    “We equally have good players that can match them in any department, we have trained very hard as well as perfected our homework to withstand whatever tricks they may come up with. We are damn prepared and ready to turn them back empty-handed,” said the former Wikki Tourists goal poacher to supersport.com.

    The Jos-based side have amassed a total of 25 points from possible 45 in the 15-week old Nigerian top flight.

  • Four Points by Sheraton, Le Meridien get new heads

    Starwood Hotels  and  Resorts Worldwide has announced the appointment of a new general manager for Four Points by Sheraton Victoria Island. Lagos. He is Marc Wozniak. In his position, he will report to Barry Curran, Area Manager Nigeria and General Manager of the Sheraton Lagos Hotel, Nigeria.

    Prior to this appointment, Marc was General Manager at the Sheraton Adana Hotel, a position he held since June 2013.

    Marc has over 29 years of experience in the hospitality industry and has gathered extensive management experience in a variety of hotels in Germany, China, Kazakhstan and Nigeria.

    Also, Le Meridien Ogeyi Place Port Harcourt, Nigeria has appointed Mr. Chris Duncan as the General Manager. In his position, he is responsible for the day-to-day management of the hotel and its staff. Mr. Chris Duncan was Resident Operations Manager for the Cape Manor Hotel in Cape Town, South Africa, a position he had held since May 2013. Mr.Chris has over 20 years of experience in the hospitality industry and has filled various management positions in South Africa.

  • Giwa FC wants 3 goals, 3 points

    Giwa FC wants 3 goals, 3 points

    •Says ,our fans didn’t attack anybody

    The management of Giwa FC of Jos has demanded that the three points and three goals should be awarded to his side by the League Management Company (LMC) for Thursday’s inconclusive week 33 Glo Premier League game against Sharks FC.

    The match, which was played at the Rwang Pam stadium, Jos, was called off when Sharks players protested against the penalty awarded to the home side by centre referee K.S. Akinwale, and refused to continue play.

    Narrating what happened during the game to SportingLife, the club’s Marketing Director, who also doubles as assistant coach, Sammy Adesoji, said Sharks FC came to Jos with the aim of causing trouble.

    Adesoji said Sharks had showed signs of carrying out something funny right from the pre-match meeting when the Blue Angels officials repeatedly talking about security.

    He said their fans are law abiding supporters who love good football and they have never been found wanting by the league body for wrong doing.

    He claimed that many clubs like Kano Pillars, Dolphins and Abia Warriors had came to Jos to pick draw this season with their fans still celebrating with away teams.

    “Even before the match I smelt the rat with the way sharks officials were behaving during the pre-match meeting. They kept emphasising on  security. And I asked the match commissioner why they are only talking about security. Pillars, Dolphins and Abia Warriors came to Jos and picked draws and nothing happened,” Adesoji said.

    “What happened was that the first half ended 0-0 and in the second half our player Ojeme Edoh was hacked in the 18-yard box in the 57th minute and the referee awarded a penalty to us. Sharks coach called their players and they left the pitch and protested against the penalty and they refused to continue the match. For more than 15 minutes they refused to play.

    “So tell me how the fans  should be throwing stones. The Sharks player that was bandaged was injured during the match. He had a head on collision with Ojeme. Ojeme could not continue the match and he was stretched out and he was attended to by our medical crew.

    “In the first leg in Port-Harcourt, we were leading  1-0 before the referee gave them a controversial penalty for their first goal and they defeated us 2-1. We took it in good faith. I think our coaches should stop blaming referees. Even in the match, the referee was officiating as if sharks were at home. The referee was fair and firm.

    “You can never hear Giwa FC blaming the referee no matter what happened. We always take everything in good faith. I was disappointed in Sharks. LMC tried to make the game beautiful and they are trying to kill it with their antics. Why did they abandon the match fans paid for? We went to draw Dolphins in Port Harcourt nothing happened. Let us build the Nigeria league and not destroy it. Our fans are law abiding supporters that will never engage in anything that can bring the game into disrepute. So we are pleading with LMC to look at what happened critically and award three points and three goals to us.”

  • ‘Three points more important than fancy game’

    ‘Three points more important than fancy game’

    Chief coach of the Super Falcons Edwin Okon says that mattered most was the three points his team secured from the game against the Brave Warriors of Namibia and not whether the team played well or not.

    Okon, looking obviously frustrated, told NationSports after the game that he decided to rest some of his key players since the team had already qualified before yesterday’s encounter, adding that at the end of the game he was satisfied that the Falcons were able to eke out three points.

    “I don’t want to dwell so much on the general performance of the team. For me, the most important thing was the three points we secured against the Namibians.

    “When I chose this team, I knew that all the players could be called upon to play in any game and I’m happy that we won the game.”

    The Rivers Angels’ tactician also gave kudos to the Brave Warriors of Namibia for putting up a stiff opposition against his team.

    “The Brave Gladiators are playing at home, in front of their home crowd which spurred them on. Besides that, I think they are a great team and I want to commend them for their performance despite their ouster,” he said.

  • What bull points for UBA?

    What bull points for UBA?

    United Bank for Africa (UBA) Plc was apparently the toast of the investing public last week. With largest turnover in the market and highest gain in the banking subsector, UBA was a contrarian stock in the generally negative market situation. Taofik Salako reports on the undercurrents drumming the upbeat for the bank

    Equities fell all through last week. From the opening trading session to the closing deals, the market was a bear market. At the end of the week, the All Share Index (ASI), the value-based index that serves as the common gauge for the Nigerian stock market, indicated a week-on-week return of -1.0 per cent. This depressed average year-to-date return to 35.47 per cent. With all sectoral indices on the negative, the downtrend was pervasive. The NSE 30 Index, which tracks the dominant 30 most capitalised stocks on the Nigerian Stock Exchange (NSE), dropped by 1.09 per cent, illustrating the losses suffered by most highly capitalised stocks. The NSE Banking Index, which tracks the dominant banking subsector, indicated a weekly return of -0.32 per cent. Other indices-the NSE Consumer Goods Index, NSE Insurance Index, NSE Oil and Gas Index, NSE-Lotus Islamic Index, NSE Industrial Goods Index and NSE-ASeM Index dropped by 0.93 per cent, 0.89 per cent, 1.01 per cent, 1.66 per cent, 3.64 per cent and 0.35 per cent respectively.

    Amidst the downtrend, UBA stood out as a contrarian stock. With a three-day capital gain of 7.80 per cent, it doubled as the highest gainer, in percentage terms, in the banking subsector and one of the top 10 gainers last week. UBA’s share price rose from its price-on-board of N7.82 to close the week at N8.43 per share. Interestingly, UBA’s upwardly pricing trend has been simultaneous with large turnover. UBA was the most active stock both within the banking subgroup and the entire market. UBA’s turnover of 170.96 million shares accounted for 27.5 per cent of turnover in the banking subsector and 15.6 per cent of total turnover for the week. Banking subsector, it should be noted, altogether accounted for 56.65 per cent of aggregate turnover on the NSE last week.

    Market dynamics

    The three scenarios- the bearish overall market situation, UBA’s upwardly pricing trend and large volume, underline a favourable perception for UBA. Technically, volume is a wave breaker for pricing trend except where the demand exceedingly overwhelms supply. Where there are more investors willing to buy at premium than investors willing to sell, higher price becomes a bait to attract volume and vice versa. All things being equal, sustained large volume with sustained capital appreciation is an indication of strong prospects. As profit takers turn in their shares to lock in their capital gains, more futuristic investors round up the supply and up the demand to elicit further supply. Suffice to note that on the NSE, like other markets, price movement-either up or down, is dependent of possession of minimum volume of shares. Thus, price appreciation occurs where the selling investor and the buying investor- through their stockbrokers, agreed on the premium value of the stock and vice versa. That explains why a bearish market is regarded as a buyer’s market- because the interest of the buyer is to purchase at a lower price, and a bullish market is referred to as a seller’s market, since the interest of the seller is to sell at premium.

    Underlying fundamentals

    UBA’s upbeat came on the heels of the release of the half-year earnings report of the bank. One of the five reports so far from the banking subsector, UBA’s six-month report came out fairly better than average industry performance. Interim report and accounts of UBA for the first half ended June 30, 2013 showed gross earnings of N125.98 billion as against N107.91 billion recorded in comparable period of 2012. Profit before tax increased from N30.41 billion to N33.25 billion. Profit after tax also improved from N27.07 billion to N28.41 billion. The report also showed appreciable improvements in the group’s balance sheet with deposits rising by 13.5 per cent from N1.77 trillion in 2012 to N2.01 trillion in 2013. Total assets increased to N2.42 trillion while net loans for the period amounted to N761.18 billion. Net assets grew by 7.9 per cent to N207.60 billion. The bank remained ahead of regulatory benchmarks in key indices with liquidity, adequacy and loan deposit ratios of 53.5 per cent, 22.3 per cent, and 37.7 per cent respectively.

    The latest earnings report illustrated continued growth, albeit at a steady pace, in the bank’s fundamentals. The bank had in the first quarter ended March 31, 2013 recorded a profit before tax of N17.2 billion as against N15.3 billion recorded in comparable period of 2012. Profit after tax grew by 19.1 per cent to N15.6billion as against N13.1 billion recorded in the corresponding period of 2012. Three-month gross earnings grew by 19.8 per cent, representing approximately N10.4billion additional revenue to the bank. Total deposits also improved by 13.5 per cent from N1.777 trillion by December 2012 to N2.017 trillion by March 2013. Total assets grew by 7.1 per cent to N2.434 trillion compared with N2.272 trillion in December 2012. Total equity grew by 8.8 per cent to N209.4 billion compared with N192.5 billion posted in comparable period of 2012.

    UBA’s 2013 performance appeared to illustrate the maturity of the growth trend of the company. After devastating provisions coloured the bottom-line red in 2011, the bank made impressive recovery in 2012. Audited report and accounts of the bank for the year ended December 31, 2012 showed profit before tax rose of N52 billion in 2012 compared with a loss of N26.60 billion in 2011. Total comprehensive income attributable to equity holders grew by 5,058 per cent to N55.53 billion compared with a loss of N1.12 billion in 2011. Gross earnings grew by 34.45 per cent to peak at N220.1 billion; representing approximately N56.40billion additional revenue on the N163.7 billion recorded in previous year.

    Analysts at Bismarck Rewane’s Financial Derivatives Company (FDC) said UBA’s 2013 half-year report was ‘solid’, referencing the underlining sentiments for the tier one bank.

     Management forecasts

    Group managing director, United Bank for Africa (UBA) Plc, Mr Phillips Oduoza, said the first half report showed the resilience of the bank given that it operated under the revised Central Bank of Nigeria (CBN)’s guideline on bank charges in the second quarter of the year.

    According to him, the results reflected continued improvement in asset quality; disciplined expense management and an articulated execution of the bank’s three-tier strategic plan.

    “The decisions we have taken so far are paying off, having recorded an improvement in revenue, as indicted in our guidance for the year. We were also encouraged by the growth in our Africa subsidiaries, which benefited from the strategic business alignment that has commenced. Thirteen of our 18 bank subsidiaries recorded profit in the first half of the year,” Oduoza outlined

    He said the bank has been well-positioned for growth based on its solid balance sheet footing, robust capital and liquidity positions noting that the bank would continue to benefit from the successful execution of quality relationship management process which is driving client acquisition and engagement.

    He said the bank would continue to harness new efficiency initiatives, increase lending to key growth sectors of the economy, continuously develop its platforms to sustain synergies among the bank’s African subsidiaries while identifying viable opportunities to leverage on its strong capital position and make the right investments in its business.

    “While economic growth remains modest, there are signs that business returns will be much better. Our customers are the reasons we are in business, and we will not relent on our efforts to seek new and innovative ways of delivering unique and value adding products to meet their banking needs,” Oduoza said.

    Bull and bear points

    Analysts at Afrinvest say the future of the Nigerian banking space will rest on ancillary banking services including merchant banking, primary mortgage institutions and retail and small and medium enterprises banking. According to analysts, the industry is now confronted with the reality of declining fee incomes, mobile money and dollar denominated capital sourcing. The Central Bank of Nigeria (CBN) had recently increased the cash reserve ratio for public sector funds to 50 per cent, undercutting the support base for several banks with large public sector funds. “The era of “real banking” appears to be gradually re-emerging as traditional sources of high income and profitability continue to come under threat from increased competition and tighter regulation,” analysts stated.

    With these operating challenges, banks with large geographic spread and cross-jurisdiction market as well as deep products and services portfolios will find stronger supports to mitigate adverse impact of operating changes. UBA appears to be in better stead. A pan-African financial services holding group with operations in 19 African countries and other major global financial centres, UBA could harness opportunities across the markets to sustain a steady performance. That appears to be the undertone for investors’ optimism on the bank.

     

     

  • NSE’s index hits 36,000 points

    Index at the Nigerian Stock Exchange (NSE) appreciated by 0.64 per cent to reach a new high of 36,000 points.

    The All Share Index (ASI), which tracks prices of all quoted equities, appreciated by 228.19 points to close at 36,010.28 points while the market capitalisation grew by N73 billion to close at N11.513 trillion.

    Investors yesterday staked N4.593 billion on 315.725 million shares in 5,880 deals. This was as a result of the good performances of some highly capitalised stocks and good corporate actions of some companies that recently released their results.

    The financial service sector remained the toast of investors with 240.538 million shares worth N2.267 billion across 3,189 deals. Ninety per cent of the top 10 most traded stocks were in the financial services sector. Seventy per cent of it was in the core banking sector while mortgage carriers, brokers and services sector and other financial institutions shared 20 per cent. The remaining ten per cent of the most traded stock was in the services sector.

    UBA emerged the most traded equity with 48.774 million shares valued at N380.198 million. It was followed by FBN Holdings, which accounted for 30.303 million shares worth N608.251 million, while Unity Bank sold a total of 22.915 million shares.

    Others on the list were ETI, Skye Bank, Guaranty Trust Bank, Resort Savings & Loans, Diamond Bank, Access Bank and C & I Leasing with 20.658 million shares, 20.367 million shares, 16.962 million shares, 15.185 million shares, 14.077 million shares, 9.882 million shares and 9.843 million shares respectively.

    In all, 118 stocks recorded price change with 35 appreciating, 25 reducing in value and the remaining 58 closing flat.

    Berger paints led the gainers’ chart, adding N0.75 to close at N8.25. It was followed by Cutix with a price increase of N0.19 to close at N2.11. Others were Cadbury Nigeria, Total Nigeria, Courtville, UBA, RT Briscoe, UAC-Property, Flour Mills of Nigeria and Presco.

    On the losers, table, Paints Manufacturing Company led with a drop of N0.16 to close at N1.46. It was followed by Academy Press with a price drop of N0.18 to close at N1.67. Also on the table were May & Baker, Costain, Ikeja Hotel, Wema Bank, UTC, Japauloil, ABC Transport and Prestige among.