Corperate News

Abbey Mortgage Bank announced plans to seek shareholder approval for a N164.5billion   Jaiz Bank Filed both its audited FY2025 Financial statements and Q1 2026 results.     Seplat Shareholders approved a final and special dividend translating to N113 per share at the company's AGM    First Holdco announced its seeking Shareholder approval to raise N253billion through equity, subject to approval at its 14th AGM    First Holdco also announced share acquisitions by Anil Dua and Femi Otedola.   Seplat Energy confirmed the exchange rate for its FY2025 total dividend at N1.370.89/$   Forex    US Dollar/Naira: N1,300    British Pounds/Naira: N2,151      Euro/Naira: N1,816

Tuesday, 9 June 2026

From Dusty Streets to the Premier League: The Remarkable Rise of Zadok Yohanna

 

From Dusty Streets to the Premier League: The Remarkable Rise of Zadok Yohanna

For countless young Nigerians, football begins on dusty streets, makeshift pitches and endless dreams. Few, however, make the leap from local neighborhood games to the biggest football stage in the world. At just 18 years old, Nigerian sensation Zadok Yohanna is proving that dreams backed by talent, determination and opportunity can become reality.

The young winger's inspiring journey has reached a new milestone following reports that Brighton & Hove Albion have agreed a £21.5 million deal with AIK Stockholm to bring him to the English Premier League.

For a teenager who once honed his skills on the streets of northern Nigeria, the move represents more than a lucrative transfer. It is a testament to perseverance, resilience and the growing influence of African football talent on the global stage.

Yohanna's story mirrors that of many African footballers who begin with little more than passion and raw ability. In communities where access to elite training facilities is limited, street football often serves as the first academy. It teaches creativity, quick thinking and technical brilliance—qualities that have become hallmarks of many African stars who have gone on to shine in Europe.

His rise through the ranks eventually took him to Sweden, where he continued to develop his game with AIK Stockholm. There, his explosive pace, dribbling ability and attacking instincts quickly attracted the attention of scouts from some of Europe's top clubs.

Brighton's decision to invest £21.5 million in the teenager reflects the club's growing reputation for identifying and nurturing young talent before they become household names. The Seagulls have built a model centered on recruitment, development and giving emerging players opportunities to flourish at the highest level.

For Nigeria, Yohanna's success is another reminder of the immense footballing talent scattered across the country. Every street, school field and community pitch could be nurturing the next global star. His journey offers hope to millions of young Nigerians who dream of following a similar path.

Beyond football, Yohanna's rise underscores a broader lesson about opportunity. Talent is universal, but opportunity is not. When gifted young people are given the right environment to grow, extraordinary outcomes become possible.

As he prepares for life in the Premier League, the teenager carries with him not just personal ambition but the aspirations of countless young footballers across Nigeria. From the streets of northern Nigeria to the bright lights of English football, Zadok Yohanna's story is a powerful reminder that sometimes the longest journeys begin with a simple practice to perfection..

Zadok Yohanna's Journey and the Lesson for Nigerian Youths

The remarkable rise of Zadok Yohanna from the streets of northern Nigeria to the English Premier League offers a powerful lesson for young Nigerians navigating hardship, unemployment and economic uncertainty.

Nigeria's challenges are real. Many young people face limited opportunities, rising living costs and frustration with the pace of economic progress. Yet Yohanna's story demonstrates that adversity does not have to dictate destiny. Growing up without elite facilities, wealth or global connections, he relied on discipline, talent and persistence to create opportunities where none seemed to exist.

This is particularly important at a time when some youths are being drawn into kidnapping, banditry, terrorism, internet fraud and other criminal activities. While such paths may appear to offer quick rewards, they ultimately lead to destruction—destroying lives, communities and the futures of those involved. Criminality may generate headlines, but it rarely creates lasting success.

Yohanna's journey illustrates a different path. Rather than becoming a victim of circumstance, he transformed his circumstances into motivation. The same determination that drives a young person to survive difficult conditions can also be channeled into entrepreneurship, technology, agriculture, sports, skilled trades, education or creative industries.

History is filled with examples of individuals who emerged from poverty, conflict and neglect to achieve greatness. Their common denominator was not privilege but perseverance. Success rarely arrives overnight, but every legitimate achievement begins with a decision to keep moving forward despite obstacles.

For policymakers, the lesson is equally clear. Government must continue to create an environment where young people can thrive through quality education, job creation, security and access to opportunities. A nation cannot simply tell its youths to be patient while denying them pathways to success.

However, even in difficult circumstances, Yohanna's story reminds young Nigerians that hardship does not have to become an excuse for violence or crime. Determination, resilience and a commitment to lawful pursuits remain the surest routes to lasting achievement.

From a dusty street in northern Nigeria to the grand stages of English football, Zadok Yohanna has shown that while obstacles may slow a dream, they do not have to stop it. His success is a reminder that talent combined with perseverance can travel farther than anyone imagines. A difficult beginning is not the end of the story it is often where the story of success begins.

His next challenge will be for yohanna to prove himself in the world's most watched football league. If his journey so far is any indication, few would bet against him.


Tony Elumelu officially Chairman of Seplat Energy, names Effiong Okon CEO

Tony Elumelu officially Chairman of Seplat Energy, names Effiong Okon CEO

Tony Elumelu, a billionaire investor and prominent businessman, has been appointed as Seplat Energy's new chairman, effective January 2027. 

As part of a larger leadership change intended to guide the energy company through its next stage of expansion, the corporation has appointed Engineer Effiong Okon as its new CEO, beginning August 1, 2026. 

The appointments were revealed in a letter signed by Edith Onwuchekwa, the company secretary, and posted on the Nigerian Exchange Limited (NGX) on Tuesday. Elumelu was appointed to the board in the wake of Heirs Energies' historic $500 million purchase of a 20.07% part in Nigeria's leading domestic oil and gas company, becoming Heirs Energies the company's largest stakeholder.

Elumelu was appointed to the board in the wake of Heirs Energies' historic $500 million purchase of a 20.07% part in Nigeria's leading domestic oil and gas company, becoming Heirs Energies the company's largest stakeholder.

Elumelu will take over from Senator Udoma Udo Udoma, who presently serves as Seplat Energy's board chairman. As Seplat continues its journey of expansion and change, the firm noted that the change represents "a new chapter of leadership."

Elumelu's background in corporate governance, institution development, and value generation, according to Seplat, will help the company achieve its goal of becoming a robust and globally competitive energy corporation.

Heirs Holdings, a pan-African investment firm with holdings in energy, electricity, banking, insurance, technology, real estate, hotel, and healthcare, was founded by Elumelu, who also serves as its chairman.
In addition, he is credited with founding Africapitalism, an economic theory that promotes long-term private sector investments to propel economic growth throughout Africa.


In addition to Heirs Holdings, Elumelu is currently the chairman of Transcorp Group, one of the biggest listed conglomerates in Nigeria, which has investments in power and hospitality through subsidiaries including Transcorp Hotels Plc and Transcorp Power.


In addition, he is the Chairman of the United Bank for Africa (UBA) Group, one of the biggest financial services organizations in Africa.

The company’s incoming CEO, Engr. Effiong Okon, replaces Roger Brown, who assumed the role on 1 August 2020.

Since joining Seplat in 2018, Okon has held a number of leadership roles and has over 35 years of industry expertise.

Before taking on the role of New Energy Director, Okon first held the position of Operations Director on the Seplat board for four years. He most recently held the position of Managing Director at ANOH Gas Processing Company (AGPC).

The business claims that he was instrumental in completing the ANOH gas project, which produced its first gas in January 2026.

According to Seplat, Okon is well-positioned to manage the company as it grows its energy portfolio and looks for long-term growth possibilities because of his operational experience and business acumen.

Tony Elumelu’s Heirs Energies had acquired a 20% stake in Seplat Energy for $500 million, becoming the single largest shareholder in the company.

The transaction was structured with an upfront payment of $248 million, with the balance due within 30 days and secured by an irrevocable letter of credit, plus a contingent consideration of up to $10 million tied to Seplat’s share price performance over six months.

The deal was co-financed by two African multilateral institutions: Afreximbank and Africa Finance Corporation, and came on the heels of a separate $750 million financing facility.

 Heirs Energies closed with Afreximbank to fund its existing operations and expansion plans

Monday, 8 June 2026

A woman who orchestrated her own kidnapping was found in a Delta hotel with her lover.

 

A woman who orchestrated her own kidnapping was found in a Delta hotel with her lover.

Oluchi, a married woman who pretended to be abducted and sought N50 million from her family, was discovered in a hotel in Delta State.


Even as the kidnappers lowered the ransom to N20 million, the woman's children, including her daughter in Canada, begged the public to assist them in raising money.

They had reported to the police that their mother had been abducted in the Ikpoba Hill region of Edo State's Ikpoba-Okha Local Government Area.

However, the police inquiry took its crack team to Delta State, where they discovered the allegedly abducted woman in a motel with her lover.

Police linked the man's number to a hotel in Ubiaroko, Delta State, according to a source. Inside a motel, they encountered the man and the abducted woman. The husband was pleased when they called him.

 The cops told him the news when he was at the station. The wife pleaded with her husband to keep what really happened a secret from her kids. Anita, her Canadian daughter, said in an internet video that her mother's behavior had destroyed the family. She promised that the family will let the legal system handle things. "My mum has been released," she said.

"My mum has been released," she said. This kidnapping case involves my mother. My actions were solely motivated by my desire to save my mother. The family is stunned. This is incorrect. My family has been destroyed by this. There are some health problems with my dad. This is really regrettable. What went wrong?

According to her, “My mum has been released. My mum is involved in this kidnapping case. I only did what I did to save my mom. The family is in shock. This is not right. This has shattered my family. My dad has some health issues. This is so unfortunate. What did I do wrong?

“My reputation has been ruined. I am short of words. I am so mad. I have no hand in this. I never knew. I only wanted my mother back home. The law will take its course. I am sorry this is happening. I only did what any daughter would do. My family has been shattered.

We were called that my mum has been released. We didn’t pay the kidnappers. The money is intact. We are going to make a refund. We involved the Police from the beginning. We now know it was not a real kidnapping. They said my mom is involved. They are having a relationship. The guy was traced. They had agreed to take what we already raised to N20m.”

Anita's social organization, the Harmony Ladies organization, distanced itself from the fake kidnapping in a statement sent to journalists via its WhatsApp group.

It conveyed how deeply disappointed, shocked, and ashamed it was of Mrs. Oluchi's behavior.

"The club acted swiftly in good faith when news of her alleged abduction broke," the statement said. We immediately came together out of love, sisterhood, and a sense of civic duty.

"Our members carried the heavy burden of anxiety alongside her family during what we believed to be a life-threatening crisis, providing extensive emotional, logistical, and financial support."

“It is with a profound sense of betrayal that we have now discovered, through investigations, that the entire kidnapping incident was staged by Mrs. Oluchi herself.”

Edo Police spokesman, Eno Ikoedem, verified the event and said four persons have been arrested in connection with the incident. She said, “I can confirm the incident and also let you know that four people have also been arrested in connection with the incident.”





A US judge has blocked Trump's $100,000 charge for skilled visa applicants.


On Monday, a US district judge banned President Donald Trump's plan to impose a $100,000 fee on firms who file visa applications for foreign highly qualified workers.

In a case filed by 20 Democratic-controlled states, District Judge Leo Sorokin concluded that the move exceeded Congress' taxing authority, and that the price for H-1B visas was an illegal tax.

"The substance and application of the $100,000 payment reveal that it is a tax, regardless of what the payment is called," Sorokin concluded in his 42-page decision.

"The President had no power or delegated authority to impose a tax on H-1B petitions," he stated.

In December, a different federal judge upheld the $100,000 fee in a separate case. The verdict is currently being appealed.

Sunday, 7 June 2026

Kidnapping and Unemployment: Nigeria’s Dangerous Economic Warning Signal



Nigeria's kidnapping crisis is often discussed as a security problem, but it is increasingly becoming something more profound: an economic warning signal. Behind many of the abductions that have plagued highways, communities and rural settlements lies a troubling reality millions of young Nigerians remain unemployed, underemployed and disconnected from productive economic opportunities.

While not every kidnapper is unemployed and not every unemployed person is a potential criminal, the relationship between economic hardship and rising insecurity cannot be ignored. When legitimate opportunities become scarce, criminal enterprises become more attractive to some desperate individuals.

Over the past decade, kidnapping has evolved from an isolated criminal activity into a sophisticated industry in certain parts of the country. Ransom payments running into millions of naira have transformed abduction into a lucrative business model. Young people who see little prospect of securing stable employment may view kidnapping syndicates as a faster route to income, regardless of the risks involved.

This trend places enormous pressure on Nigeria's security agencies. No police force, regardless of its professionalism or resources, can effectively arrest its way out of a crisis rooted partly in economic deprivation. As unemployment grows, the pool of potential recruits for criminal networks also expands. The result is a vicious cycle in which insecurity discourages investment, reduced investment limits job creation, and unemployment further fuels insecurity.

The burden on the police is becoming increasingly overwhelming. Officers are expected to combat kidnapping, banditry, armed robbery, cybercrime and communal conflicts simultaneously, often with limited manpower and equipment. Security interventions remain necessary, but they address the symptoms rather than the underlying causes.

This is why Nigeria urgently needs a comprehensive employment strategy that treats job creation as a national security priority. Large-scale public works programmes, vocational training initiatives, agricultural value-chain development, industrial parks and support for small businesses can absorb thousands of young people who might otherwise become vulnerable to criminal recruitment.

Agriculture alone presents immense opportunities. With the right investments in processing, storage, logistics and access to finance, millions of jobs could be created across rural communities where kidnapping has become particularly prevalent. Similarly, expanding manufacturing and supporting technology-driven entrepreneurship could provide sustainable alternatives for the country's growing youth population.

Education and skills acquisition must also play a central role. Many young Nigerians possess energy and ambition but lack access to marketable skills. Bridging this gap can help transform potential security liabilities into productive economic assets.

The lesson is clear: security and economic development are inseparable. More patrol vehicles, more checkpoints and more arrests may provide temporary relief, but lasting solutions will require addressing the conditions that allow criminality to flourish in the first place.

Nigeria's kidnapping epidemic should therefore be viewed not only as a law enforcement challenge but also as a reflection of deeper economic vulnerabilities. Every job created is potentially one less person available for recruitment into criminal networks. Every thriving business strengthens community resilience against insecurity.

The fight against kidnapping will not be won solely in police stations and military barracks. It will also be won in factories, farms, classrooms, workshops and business centres across the country. Until unemployment is tackled with the same urgency as insecurity, Nigeria risks remaining trapped in a cycle where economic despair continues to fuel criminal enterprise.

The choice before policymakers is straightforward: create opportunities for the nation's youth today, or continue paying the far greater cost of insecurity tomorrow.


Grenada Offers Nigerian Investors Financial Services, Real Estate, and Aviation Strategic Opportunities



 The strategic investment potential Grenada offers Nigerian investors in aviation, tourism, real estate, healthcare, education, agriculture, logistics, and financial services have been described by His Excellency E. Bidemi Sonoiki, the Honorary Consul of Grenada in Nigeria.


In an effort to promote business travel, tourism, educational exchanges, and investment exploration, Grenada is also granting visa-free entry to Nigerians, Sonoiki announced yesterday in Lagos.

As the government looks to diversify its economy and draw in new investment, he claims that Grenada is becoming one of the Caribbean's most alluring investment locations, with prospects in trade, tourism, fintech, renewable energy, logistics, and digital innovation.

According to him, Nigeria and Grenada's relationship has changed dramatically in recent years, transcending historical and cultural links to become a strategic alliance focused on investment, trade, innovation, education, and sustainable economic growth.

"Today, Grenada presents a compelling opportunity for Nigerian investors and entrepreneurs looking to access new markets beyond Africa," stated Sonoiki.

"A strategic economic corridor between Africa and the Caribbean is emerging, offering enormous opportunities for trade, investment, tourism, education, and business growth."

He claimed that since the Grenada Honorary Consulate was established in Lagos in 2022, the two nations' friendship has grown.

"Since then, bilateral engagements have grown significantly, resulting in the creation of the Nigeria-Grenada Chamber of Commerce, improved diplomatic cooperation, growing private-sector engagement, and increased collaboration across healthcare, education, and economic development," he stated.

Grenada's decision to let Nigerians visa-free entry is one of the most noteworthy developments; this step is anticipated to promote business travel, tourism, educational exchanges, and investment exploration.

"Visa-free access removes a significant barrier to engagement," claims Sonoiki. It strengthens the basis for business collaboration and makes it easier for Nigerian experts, company owners, and investors to investigate opportunities in Grenada.

He said that trade and investment flows between Nigeria and the Caribbean might be drastically altered by the planned establishment of direct aviation connectivity.

He added that direct air connectivity would greatly enhance business travel, ease cargo movement, boost tourism, and open up new commercial opportunities for companies operating throughout Africa and the Caribbean. He expressed confidence that this would become a reality within the next six months.

"Connectivity is one of the most important enablers of economic growth," stated Sonoiki.

"Direct connections between Nigeria and the Caribbean would open up huge trade, investment, and tourism opportunities while establishing Grenada as a key entry point for African companies looking to access Caribbean markets."

According to him, tourism, agriculture, education, financial services, and an increasing number of developing industries have all contributed to Grenada's development into a contemporary and diverse economy.

Grenada was marketed by Sonoiki as a stable parliamentary democracy that attracts foreign investors because to its favorable economic climate, US dollar-pegged currency, and key membership in the Caribbean Community (CARICOM).

He clarified that there are significant opportunities in aviation, real estate, agriculture, and agro-processing. Due to Grenada's worldwide reputation for producing nutmeg, mace, and other spices, Nigerian investors interested in value-added processing, agribusiness partnerships, and export-oriented companies now have opportunities.

He continued by saying that the nation's healthcare system is also garnering notice, especially in light of the Nigerian Technical Aid Corps program's successful deployment of Nigerian medical personnel to Grenada.

The project has shown that there is room for more cooperation in the areas of medical technology, training, healthcare administration, and healthcare services.

According to Sonoiki, the expanding Nigeria-Grenada cooperation coincides with an increase in economic interaction between Africa and the Caribbean.

According to him, trade between Africa and the Caribbean is currently valued at about $729 million, and as connectivity, investment, and institutional collaboration increase, estimates show significant growth over the next several years.

"We want Nigerian investors to see Grenada as a strategic business platform, not just as a Caribbean destination," Sonoiki continued.

"Tourism, real estate, healthcare, agriculture, education, fintech, logistics, and renewable energy are among the opportunities.

"Grenada provides access, stability, and substantial long-term potential for businesses looking to expand beyond traditional markets."

The relationship between Nigeria and Grenada has a very bright future.

Our objective is to provide a structure that enables companies, investors, and entrepreneurs from both nations to form significant alliances, spur innovation, and produce long-term prosperity.

Your Shawarma Columnist: Shawarma Red Flags, How to Spot a Bad One Instantly

 




1. Too Much Cream = Cover-Up Job

If the vendor is drowning the wrap in sauce…

What it means:

b.  Meat is probably dry or tasteless

c. They’re hiding poor seasoning

Instant test:

If you can’t see the meat anymore, you’re in trouble.

 

2. No Aroma From the Grill

A good shawarma stand should hit you with smell from a distance. What it means if there’s no smell: Meat isn’t freshly grilled, It may be reheated or pre-cooked hours ago

Instant test:

If it doesn’t smell like fire, spice, and meat… walk away.


3. Pale or Grey Meat ( BIG ONE)

Good shawarma meat should look: Browned, Slightly charred, Juicy

Bad sign: Grey, pale, or watery meat

What it means:
a.  Undercooked or reheated
b.   No proper marinade

 4. Soggy Wrap Before You Even Bite

If the wrap is already soft, wet, or tearing

What it means:

a. Too much sauce

b.  Poor wrapping technique

c.  Low-quality bread

Instant test:

A good wrap should have slight crisp on the outside.

 

5. Zero Crunch (Dead Texture)

A proper shawarma has by contrast:

a. Soft meat

b. Crunchy veggies

c. Slightly toasted wrap

If everything feels soft and mushy,  It’s badly made.

 

6. Meat-to-Cabbage Ratio Is a Joke

Let’s be honest some vendors sell cabbage with small meat decoration.

What it means:

a. Cost-cutting

b. Low value for money

Instant test: If you open it and see more cabbage than meat… you’ve been scammed.

 

7. No Heat, No Spice, No Personality: Even mild shawarma should still have flavour.

If it tastes flat:

a. No marinade

b. No seasoning depth

What it means:

They’re just assembling food, not cooking.

 

8. It Tastes the Same Everywhere (Generic Flavor)

What it means:

a. Mass production

b. No uniqueness

Brutal truth:

Consistency is good—but not when it’s consistently average.


9. The First Bite Has No “Wow” Moment

A real shawarma hits instantly: a.  Spic,   b. Cream  c. Meat, d. Heat

If your reaction is just “okay…” It’s not worth it.

10. Oil Dripping Like Engine Fluid: Yes, shawarma should be juicy not leaking.

If oil is dripping excessively: Poor meat quality, Over processed filling


Final Truth

 Bad shawarma isn’t just disappointing—it’s predictable. Once you understand these signs, you’ll start noticing:


From Obioma
Emon Vision Distribution

Friday, 5 June 2026

Unity Bank and Providus Bank's merger is finally approved by the Supreme Court.

 



One of the largest consolidations in Nigeria's banking sector is now complete thanks to the Supreme Court's approval of the union of Unity Bank and Providus Bank. 

Customers and owners of the impacted banks, Suleiman Abubakar and Mohammed Goni Modu, the appellants, had attempted to halt the merger through a number of legal procedures. 

The Federal High Court was the first court to hear their challenge, which then moved on to the Court of Appeal and finally the Supreme Court. On Monday, the Court denied an appeal that sought to stop the transaction and awarded each respondent N10 million in costs against the appellants.

This ended the legal dispute that had impeded the process of combining the two lenders to create a new, powerful bank. The merger was previously approved by the two firms' shareholders during a court-mandated Extraordinary General Meeting (EGM) that took place in September of last year. 

The Central Bank of Nigeria (CBN) had previously approved as well. What the Court stated In Appeal No. SC/CV/132/2026, which resulted from Appeal No. CA/LAG/CV/137/2025 and Suit No. FHC/L/MISC/734/2025, a five-member panel of the Supreme Court, presided over by Justice Tijani Abubakar, rendered the ruling.

In addition to dismissing the appeal as unmeritorious, the Apex Court used its authority under Section 22 of the Supreme Court Act to directly sanction the merger dispute between Unity Bank Plc and Providus Bank Limited, thereby ending all litigation pertaining to the deal.

In compliance with the authorized Scheme of Merger, the court mandated that Unity Bank Plc's assets, liabilities, and undertakings—including real estate—be transferred to Providus Bank Limited.

Additionally, it mandated that the transfer be finished within ten days of the scheme's approval.

The top court authorized a price of N3.18 per share, or 18 Providus Bank shares worth 50 kobo apiece, for each 17 Unity Bank shares that owners held as part of the merger agreements.

Additionally, the court accepted the adoption of ProvidusUnity Bank Limited as the new name for the expanded organization and ordered the dissolution of Unity Bank Plc's board without winding up the organization.

Providus Bank Limited, Unity Bank Plc, PAC Capital Limited, Vetiva Advisory Services Limited, Lighthouse Capital Limited, Planet Capital Limited, the Federal Competition and Consumer Protection Commission, the Securities and Exchange Commission, the Corporate Affairs Commission, and the Central Bank of Nigeria are among the parties involved in the appeal.

Reacting to the judgment, senior counsel to Unity Bank Plc, Chief D.D. Dodo, SAN, alongside R.O. Atabo, SAN, described the ruling as a historic decision that has finally settled all disputes relating to the merger.

According to Dodo, the Supreme Court’s intervention has removed every legal obstacle standing in the way of the consolidation.

“What the Supreme Court has done by this judgment is to bring closure to the merger between Providus Bank and Unity Bank.

“Some persons went to the Federal High Court and attempted to truncate the merger, and the matter progressed through the Court of Appeal to the Supreme Court. Today, that chapter has been conclusively closed,” he said.

The senior advocate noted that the judgment is particularly significant because of the apex court’s decision to invoke Section 22 of the Supreme Court Act, a power rarely exercised in such circumstances.

He argued that the judgment may represent the first instance in Nigeria’s judicial history in which the Supreme Court has directly sanctioned a merger involving banking institutions, rather than remitting the matter to a lower court for further proceedings.

When completed, the merged institution will debut with an extensive network of about 230 branches nationwide, immediately ranking it among the most expansive banks in Nigeria.

Providus Bank brings its track record in innovation, digital banking, and customer-centric services, while Unity Bank contributes wide geographic reach and decades of brand equity.

Combined, the lenders say they will be better positioned to support households, SMEs, corporates, and government institutions.

The merged entity will also launch with a strong capital adequacy ratio, a crucial metric for competitiveness under Nigeria’s evolving banking reform

 


More than 1,000 Nigerians to be repatriated from South Africa.- FG



 As anti-immigrant emotions increase in South Africa, which has long been a destination for both documented and undocumented African labor, Nigeria is preparing to repatriate over 1,000 of its citizens.

Abuja's action follows Ghana's recent repatriation of hundreds of its residents from South Africa in reaction to a wave of anti-foreign rallies and violence.

Kimiebi Ebienfa, a spokesperson for the foreign ministry, told AFP on Friday that screening for Nigeria's voluntary repatriation program began on Thursday.

Nigeria's High Commission in Pretoria said in a statement on Tuesday that it had "negotiated waivers with host authorities" so that people with "immigration related offences" would not be detained but may depart on the final repatriation planes.

Workers from all across the region have long been drawn to South Africa, which has the most industrialized economy on the continent.

However, it has experienced frequent outbursts of xenophobic rallies, including a resurgence of violence in recent weeks, due to its unemployment rate of more than thirty percent.

Uncomfortable discussions concerning xenophobia, migration, and the discrepancy between pan-African rhetoric and the realities of migration on the continent have resurfaced throughout Africa as a result of the recent tensions.

The South African government has warned people not to take matters into their own hands, but it has stated that it is increasing action against unauthorized immigrants.

The statistics agency reports that over three million foreigners, or 5.1% of the population, reside in South Africa.

More than 63 percent come from countries in the 16-member Southern African Development Community (SADC) bloc.


NIGERIA'S STOCK PRICE SUMMARY MAY 15 - 5TH JUNE 2006

 

 

NGX Price Summary Compilation For the Month of May by Emon Vision

NIGERIA'S STOCK PRICE SUMMARY MAY 15 - 5TH JUNE 2006

STOCK TICKER MAY 15
ENDED PRICE
MAY 22
ENDED PRICE(N)
MAY 29
ENDED PRICE
JUNE 5 Dividend links
Abbey Mortgage Bnk Plc ABBEY 7.30 7.05 6.35 9.35
Access Holding ACCESSCORP 25.75 24.95 24.05 25.00
Aiico Insurance Plc AIICO 4.64 4.50 4.48
Academy Press .. ACADEMY 7.05 9.15 9.15 8.25
African Prudential Plc AFRICAN PRUDENTIAL 13.95 13.35 12.95
Airtel Africa AIRTELAFRI 3,655.7
Aluminium Extrusion... ALEX 9.00 9.90 9.90 9.90
Aradel Holdings ARADEL 1,834.00 1,836.00 1,933.80 1,749.90
Associated Bus Com... ABCTRANS 6.27 9.08 8.25 6.21
Austin Laz & Company plc AUSTINLAZ 3.96 3.76
Axamansard Insurance Plc MANSARD 13.65 13.50
BUA Cement BUACEMENT 435.00 420.00 420.00 378.00
BUA Foods BUAFOODS 967.00 967.00 967.00 939.00
Berger Paints BERGER 168.60 147.95 147.60 147.60
BETA Glass BETA GLASS 570 570 562.80
Cadbury Nigerian Plc CADBURY 69.00 69.00 69.00
CAP Plc CAP 179.1 175.1
CHAMS CHAMS 4.00 3.95 4.01 4.00
Caverton Offshore Support Group CAVERTON 6.75 6.45 6.20
C & I Leasing PLC CAVERTON 6.60 6.10 6.15
Champion Brew CHAMPIO 14.55 13.85 13.05 13.00
Computer Warehouse Gro.. CWG 24.800 23.000 24.000 22.00
CONOIL PLC CONOIL 194.0 194.0
Coronation Infastructure Fund CNIF 110.00 110.00
Chemical And Allied... CAP 233.70 199.00 179.10 175.1
Corner Stone Insurance co. CORNERSTONE 5.85 5.90 5.80
Consolidated Hallmark Holdings CONHALL PLC 5.85 6.25 6.70
Curtix plc Curtix 3.19 3.10 3.18
Custodian & Allied Plc Curtix 83.00 83.00
Dangote Sugar Refineries DANGSUG 91.00 87.00 71.15 72.00
Dangote Cement DANGCEM 1,180.00 1,180.00 1,180.00 1,180.00
Daar Communications PLC DAARCOM 2.25 2.09 1.95 1.98
Deap Capital Management & Trust DEAPCAP 5.68 5.40
Ella Lakes ELLAHLA 10.95 10.05 10.05 10.00
ETERNA Plc ETERNA 34.35 34.45 30.00
Eunisell Interlink plc EUNISELL 209.95 209.95 210.00
Nigerian Enamel Ware Company ENAMELWARE 37.00 37.95 37.00 37.00
E-Tranzact International PLC E-TRANZACT 17.10 18.00 18.00
First HoldCo FIRSTHOLD 70.00 70.00 70.00 62.00
FCMB Group PLC FCMB 11.55 11.70 11.20
FTN Cocoa Process... FTNCOCO 8.90 9.90 8.95 8.30
Fortis Global Insurance Plc FTGINSURE 1.08 1.00 1.00
Fidelity Bank Plc FIDELTYBK 42.12 42.12 21.20 20.70
Fidson FIDSON 136.50 136.50 136.50 136.50
GEREGU Power Plc GEREGU 1,132.00 1,132.50 1,132.50
Golden Guinea Brew. Plc FIDSON 7.1 7.10
Guaranty Trust Holdings GTCO 146.80 145.00 137.00 134.70
Guinness Nigeria Plc GUINNES 402.60 402.60 402.60 402.60
Haldane McCall HMCALL 3.60 3.84 3.60
Honey Well Flour Mills HONEYWELL 18.15 18.20 18.35
Initiate Plc TIP 32.30 33.80 28.40
Industrial & Medical Gases IMG 42.30 38.10 38.10 37.60
IKEJA Hotel Plc IKEJA 38.00 40.20 44.00
Infinity Trust Mortgage Bank INFINITY 9.35 9.35 9.35
International Breweries Plc INTBREW 12.65 12.35
International Energy Insurance INTENEG 2.79 3.41 4.52 7.26
Jaiz Bank JAIZBANK 9.00 8.97 9.10 9.00
John Holt Plc JOHN HOLT 18.80 16.95 14.90
Japaul Gold Ventures JAPAULGOLD 3.34 3.82 3.75 3.45
Juli Plc JULI 7.25 7.25
Julius Berger JBERGER 315.00 315.00 315.00 310.80
Lafarge Africa WAPCO 337.00 342.00 342.00
Lasaco Assurance Plc LASACO 2.08 2.05
Learn Africa Plc LEARNAFRCA 10.85 12.90 12.75 11.50
Legend Internet Plc Legend 6.12 6.06 6.10
Livestock Feeds LFL 9.80 8.90 9.35 8.90
Living Trust Mortgage Bank LIVINGTRUST 4.07 4.01 3.96
Linkage Trust Assurance Plc LINKAGE 1.73 1.78 1.71
MTN Nigeria MTN 820.00 820.00 820.00 775.00
Maybaker MAYBAKER 47.30 50.00 46.70 47.00
Morison Industrial PLC MORISON 10.62 10.62 10.62
Mutual Benefit Assurance MBENEFI 4.30 4.70 4.39 4.30
Mecure Industries PLC MECURE 94.90 94.90 94.90 94.90
Mc Nichols plc MCNICHOLS 8.00 8.70 7.75
Meyer Plc MEYER 20.60 20.60 20.60
Multiverse Plc MULTIVERSE 25.65 25.65
National salt co. Nig. ltd NASCON 220.00 210.00 220.00 219.50
New mont corp NEM 30.00 30.00 32.90 30.00 1.50/per share
NEIMETH International Pharmaceutical NEIMETH 10.30 10.20 10.60
Nigerian Exchange NGXGROUP 149.50 149.50 137.10
Nigerian Breweries NB 86.95 86.00 83.60 80.00
Nestle Nigeria NESTLE 3,125.00 3,125.00 3,125.00 3,125.00
Nigerian aviation handling ..hco NAHCO 205.00 201.900 189.50 189.50
Nothern Nigerian Flour Mills N.NIGERIAN FLOUR 79.40 79.40 79.40
NPF Microfinance Bank NPFMCRF 5.76 5.76 5.74 5.45
NCR (Nigeria) PLC NCR 179.00 161.20 161.20 161.20
Oando OANDO 52.50 51.00 48.00
Okomu Oil Palm OKOMUOI 1,750.00 1,750.00 1,750.00
Omatek Ventures Plc OMATEK 1.90 1.99 2.08
Premier Paints plc PREMIER PAINTS 37.50 33.75 33.75
Presco PLC PRESCO 2,300.00 2,300.00 2,300.00 2,300.00
Prestige Assurance.. PRESTIGE 1.50 1.55 1.56 1.48
PZ Cussons Nigeria PZ 102.00 98.00 94.95
Redstarex REDSTAR 31.90 34.95 34.00 30.65
Regency Alliance Insurance REDSTAR 1.01 1.01
RT Briscoe 14.06 13.65 14.86
Royal Exchange 1.48 1.50 1.55
Sterling Financial STERLINGNG 7.90 7.90 7.95
SCOA Plc SCOA 33.05 33.05 33.05 33.05
Secure Electronic Technology SET 0.87 0.88 0.86
Seplat Petroleum SEPLAT 11,486.20 11,486.20 N113/Per share
Sky Way Aviation Handling CO SKYAVN 156.95 156.95 155.80
STANBIC IBTC Holdings.. IBTC 163.00 174.50 169.35 164.10
Soveriegn Trust Insurance plc SOVERIEGN TRUST 2.28 2.75 2.50
SFS Real Estate Investment Trust SFSREIT 418.17 418.80 418.80
Sunnu Assurance Ltd SUNNU 4.52 4.44 4.48
STERLING Financials Holding STERLING FINANCIAL 7.90 7.90 7.95
Transnational Corperation of Nigeria TRANSCORP 47.750 46.00 45.90
Trans Nationwide Express TRANS EXPRESS 5.72 5.28 4.90
Transcorp Hotels plc TRANSCOHOT 223.30 223.30
Transcorp Power Plc TRANSCOP POWER 272.00 245.50 245.50
Tantalizer TANTALIZER 4.38 4.13 4.89 4.65 Tantalizers signs MoU with Karflex Fisheries.....
Total Energies Marketing Nigeria plc TOTAL 640.00 640.00 640.00
Tripple Gee and Company Ltd TRIPPLE GEE 3.96 3.98 4.37
UBA UBA 45.00 44.50 43.60
UH Investment Trust UHOMREIT 84.70 84.70 84.70
United Capital UCAP 18.50 18.65 18.65
Unilever Nigeria UNILEVE 168.00 156.00 156.00
Union Dicon Salt PLC UNION DICON 21.70 23.75 23.75
United Capital Plc UNITED CAPITAL 18.50 18.65 18.65
UAC Of Nigeria UACN 189.95 183.00 180.70
University Press Plc UPL 6.40 6.15 5.10
Universal Insurance Plc UNIVERSAL 1.08 1.12 1.11
Unity Bank plc UNITYBNK 1.51 1.51
UPDC Real Estate
Investment Trust
UPDC 4.40 4.00
UPDC Real Estate
Investment Trust
UPDC 10.70 10.15 10.10
Veritas Kapital Insurance PLC VERITAS 1.67 1.65 1.64
VFD Group PLC VFDGROUP 9.95 10.80 10.35
Vitafoam Nig VITAFOAM 194.00 194.00 194.0
Wema Bank WEMABANK 33.40 33.50 30.00
Zenith Bank ZENITHB 132.00 131.10 128.00
Zichis Agro Allied ZICHIS 29.43 33.65 33.00 32.38

From Dusty Streets to the Premier League: The Remarkable Rise of Zadok Yohanna

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