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Business Update: Nigeria’s Stock Market Opens December With N55bn Gain

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The Nigerian Stock Exchange (NSE) on Tuesday resumed the month of December on a positive trend as market capitalisation appreciated by N55.167 billion to close at N18.36tn from N18.31tn. The All-Share Index grew by 105.48 basis points or 0.30 percent from 35,042.14 index points the previous trading session to 35,147.62.

The Nigerian Stock Exchange (NSE) on Tuesday resumed the month of December on a positive trend as market capitalisation appreciated by N55.167 billion to close at N18.36tn from N18.31tn.

The All-Share Index grew by 105.48 basis points or 0.30 percent from 35,042.14 index points the previous trading session to 35,147.62.

Although, trade ended on the NSE with a negative breadth as there were 21 losers and just 16 gainers.

The Nigerian Stock Exchange (NSE) on Tuesday resumed the month of December on a positive trend as market capitalisation appreciated by N55.167 billion to close at N18.36tn from N18.31tn. The All-Share Index grew by 105.48 basis points or 0.30 percent from 35,042.14 index points the previous trading session to 35,147.62.

On the activity chart, premium subsector dominated in volume terms with 113.8 million shares exchanged in 1,375 deals. The subsector was enhanced by the activities in the shares of Access Bank Plc and FBNH Plc.

The banking subsector was boosted by the activities on the shares of GTBank Plc and Fidelity Bank Plc followed with 55.64 million units traded in 982 deals.

A total of 308.181 million shares were traded by investors in 4,515 deals.

Caverton Plc led the gainers chart with 9.88 percent to close at N1.89 per share, while Cutix Nigeria Plc followed with 9.80 percent to close at N1.68 per share and AIICO Insurance Plc with a gain of 9.78 percent to close at N1.01 per share.

Breaking: FIRS To Begin Recovery Of Outstanding Debt

Federal Inland Revenue Service (FIRS) says some taxpayers have failed to capitalise on the measures introduced to mitigate the impact of the COVID-19 pandemic on businesses and the economy.

Muhammad Nami, executive chairman of FIRS, made this known in a statement on Monday.

Nami said the service noted that despite series of palliatives for waivers of penalties and interest on outstanding taxes, some taxpayers are yet to take advantage of the palliative windows opened.

In light of the above, he said the service has fixed December 31, 2020, as the last day for the waiver of outstanding penalties and interest on all taxes.

“After the expiration date of December 31, 2020, the service shall recover all outstanding debt with penalties and interest, in accordance with the provisions of the extant tax laws such as ‘the power of substitution’ conferred on it by Section 31 of the Federal Inland Revenue Service (Establishment) Act 2007,” the statement said.

“The service has issued a series of palliatives for the waivers of penalties and interest on outstanding taxes arising from desk examinations, audit exercises, investigations or all other forms of tax assessment.

“However, the service has observed that some taxpayers are yet to take advantage of the palliative windows opened to cushion the effect of the challenges of the economy on taxpayers.”

Borno Massacre: Northern Elders Call For Buhari’s Resignation

Northern Elders’ Forum (NEF), has asked President Muhammadu Buhari to step down, adding that lives under him have become worthless.

In a statement by the Director of Publicity and Advocacy of the Forum, Dr. Hakeem Baba-Ahmed, the forum said the appropriate thing for the president to do is to resign since he can no longer guarantee the safety of Nigerians.

The forum also berated the presidency over its response to Boko Haram’s killing of over 40 rice farmers in Borno State.

Recall that Garba Shehu, the spokesperson for the president, had said the farmers were killed because they did not get military clearance before going to their farms.

Baba-Ahmed, in a statement, described Shehu’s remark as ‘most insensitive’.

The statement reads: “Northern Elders Forum (NEF) joins Nigerians in expressing outrage at the killings of farmers in Borno State and many other people on a daily basis in many parts of the North. Our voices have been raised without pause for a long time against pervasive insecurity in our region.

“These particular killings have been greeted by the most insensitive response by spokespersons of the President. The lame excuse that farmers had not sought permission from the military to harvest produce merely exposed the misleading claims that our military had secured vast territories from the insurgency.

“Under this administration, life has lost its value, and more and more citizens are coming under the influence of criminals.We do not see any evidence of a willingness on the part of President Buhari to honour his oath to provide security over Nigerians.

“In civilized nations, leaders who fail so spectacularly to provide security will do the honourable thing and resign.”

Killings: Security challenges beyond military, says Fayemi

The Nigerian Governors’ Forum Chairman and Governor of Ekiti State, Kayode Fayemi, has said security challenges are beyond the Nigerian military.

A statement on Wednesday quoted him as saying this during his visit to Governor Babagana Zulum of Borno State to condole with the government and people of Borno over an attack by the Boko Haram insurgents, where over 40 farmers were slaughtered.

The statement was titled, ‘Governors Forum: Security challenges are beyond military’.

He was accompanied by the Governor of Sokoto and the Vice Chairman of the Forum, Aminu Waziri Tambuwal, Governor of Kebbi State, Atiku Bagudu, and that of Niger State, Abubakar Bello.

Fayemi said soldiers are overwhelmed and needed support to tackle the security situation affecting many parts of the country – insurgency, banditry, kidnapping, and armed robbery.

He said, “But what happened in the last three days is by far beyond any imagination, it was a massacre and it was one that none of us could come to terms easily.

“The reality we can all say, and I personally as security scholar, the reality I can see is that our military is overwhelmed. Our military is no longer in a position to single-handedly tackle this menace effectively.

“It is not a criticism of our military, if one were to suggest a coalition beyond that will even include our neighbouring countries, who are probably more experienced in fighting an asymmetrical war. It will not be a loss of our pride as a country.”

The governor also said governors are frustrated with the level of insecurity in the country.

“This is not a visit to gratify ourselves, no, it is an expression of also our own frustration.

“We can’t bring back the people we have lost in the last couple of days, but if we do not take the necessary steps the entire nation will be consumed by this insurgency,” Fayemi added.

Zulum said, “We need to address the underlying causes of the insurgency while appreciating the effort of the federal government in implementing some policies that are geared towards addressing poverty in the entire nation, Borno State deserve more.”

JUST IN: President Buhari Appoints Sulaiman-Ibrahim NAPTIP DG

President Muhammadu Buhari has approved the appointment of Imaan Sulaiman-Ibrahim as the new Director-General of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP).

This was disclosed in a statement by the Senior Special Assistant to the President (Media & Publicity), Garba Shehu, on Tuesday.

“A holder of BSc (Sociology), Masters of Arts (Management) and Masters of Business Administration (MBA) degrees, Mrs Sulaiman-Ibrahim, hails from Nasarawa State,” the statement read in part.

Until Mrs. Sulaiman-Ibrahim’s new appointment, Shehu said she was a member of the Nasarawa State Economic Advisory Council as well as Special Adviser on Strategic Communication to the Minister of State for Education.

She is to replace Julie Okah-Donli, who was appointed by Buhari in 2017.

Senate Confirmation: Mahmood Gets Another 5 Year Term

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The Senate has confirmed the appointment of Prof. Mahmood Yakubu, as Chairman of the Independent National Electoral Commission for the second term of five years.

The confirmation followed the consideration of the report of the Senate Committee on INEC, led by Senator Kabiru Gaya, which submitted its report at plenary on Tuesday and recommended Yakubu for confirmation.

Gaya moved that the Senate do receive and consider the report of the Committee. The motion was seconded by Senator Haliru Jika.

“I will like to begin by thanking Mr. President for this nomination. This is the first time the Chairman of INEC is re-nominated. Let me thank the Committee on INEC for bringing forth what most of us do not know,” the committee chairman said.

 “I stand to support this nomination not because of all that have been said about him but because of the way he has carried out the affairs of INEC.”

On his part, Senate Minority Leader, Senator Enyinnaya Abaribe said, “What is important for is to make sure that votes count and votes matter.”

Many other lawmakers joined in hailing the newly confirmed INEC chairman.

White House: Theme For This Year’s Decoration Is America The Beautiful

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First lady Melania Trump has unveiled this year’s White House Christmas decorations in a video posted on Monday.

The theme for this year’s decor is “America the Beautiful.” In a tweet, President Donald Trump’s wife said her design is intended to “pay tribute to the majesty of our great nation.”

 “Thank you to all the staff and volunteers who worked to make sure the People’s House was ready for the holiday season,” she added. “Wishing everyone a Merry Christmas and a happy and healthy New Year.”

Other rooms in the White House are decorated with toy planes, trains, and automobiles, a recognition of “our monumental triumphs in innovation and technology,”.

The Red Room is specifically decorated to celebrate America’s first responders and front-line workers amid the ongoing COVID-19 pandemic.

Global Day Of Prayer to put things in order ahead of New Year- Pastor Chris

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The world saw a shaking not expected in the year 2020, economies were brought to their knees, businesses closed up, many lost their jobs, and most devastating, their loved ones. Fear and panic gripped many just in the first quarter of the year due to the news in the media of the Covid- 19 fiasco, but right in the midst of it all, there was a man sent from God in the person of Reverend Dr. Chris Oyakhilome who had seen ahead and declared 2020, will be a year that LoveWorld Inc. aka Christ Embassy will have a yearlong pray-a-thon. This set the tone for the Global Day of Prayer with the first edition taking place in the month of March.

President of the Loveworld Inc., Pastor Chris Oyakhilome, has continued to emphasize the need for Christians all around the world to bond together in prayers for the Church and the nations of the world in these last days. The ‘Global Day of Prayer’ provides the perfect opportunity for the saints to fulfill their intercessory ministry.

As the ‘Global Day of Prayer’ enters its 4th and final edition for the year 2020 on December 1, many around the world who participated have experienced remarkable testimonies from the past editions of the revolutionary program. Through their prayers, salvation and healing is ministered to millions of souls around the world. These prayer sessions sets to break the hold of fear over the minds of people and insist on the establishment of the will of God in the earth.

The December ‘Global Day of Prayer’ which comes with fasting is set to commence from 6 pm GMT +1/1 pm EST Tuesday 1st December to Wednesday 2nd December 2020.

It’ll be streamed live on all LoveWorld Networks and Web/Mobile platforms, as well as on major satellite, terrestrial, local TV and Radio Stations around the world.  

Let’s take a look at the ‘Global Day of Prayer’ since its inception:

‘GLOBAL DAY OF PRAYER’

The First Global Day of Prayer with Pastor Chris and Pastor Benny Hinn took place on March 27 this year, to a staggering live participation of over 3 billion people from around the world. It was a special call to prayer according to the inspiration of God’s Spirit. It was a faith response to restore hope amidst the growing fear and confusion expressed by different governments of the world in the wake of the Coronavirus epidemic. Through effective prayers, there was an assurance that the nations will be liberated from the siege of the pandemic. Christians around the world, irrespective of denominations, took a stand in unity against the forces of darkness causing panic and perplexity in the world, as they observed this Global Day of Prayer. Pastor Chris gave statistics of the devastating effect of the Coronavirus across the globe, further stressing the need for the church to pray fervently as the Church is the only restraining force of evil in the world.

Various prayer points were raised for the governments of the world, for the church, and against the demonic COVID-19 epidemic. God’s people prayed fervently, unleashing their faith. Then the Man of God, Pastor Chris declared the Coronavirus dead, stirring up great rejoicing across the globe.

The month of June witnessed the Second Global Day of Prayer, which happened to also be the ‘Month of Prayer’. The program ran from June 26 for a full 24 hours until June 27.

The global participants were treated to a documentary on the drastic turn of events that marked the first quarter of the Year, and changed the world. The coronavirus fiasco brought the world to its knees with devastating socio-economic consequences, but at this time there was a turn of events with the unfolding of truth through God’s word delivered by the Man of God, Pastor Chris.

The Third Global Day of Prayer was highly anticipated for the ‘Month of Wisdom‘. The life transforming event took place on Friday September 25 to Saturday September 26, 2020.

Pastor Chris told the global community at September’s Global Communion Service to continue praying for the rest of the month leading up to the Global Day of Prayer.

4th and final edition of theGlobal Day of Prayer’ with the Man of God, Pastor Chris Oyakhilome for the year 2020 is set put things in order as we look forward to the new year. As the body of Christ draws closer and closer to the time of the Rapture of the Church, necessity is laid on the church to ensure that the knowledge of the Glory of God covers the whole earth as the waters cover the sea and this is achieved through prayers.

Pastor Chris declared that “God did not ask us to pray for nothing, He asked us to pray because He wants to answer. Through our prayers, we usher in the reign of righteousness, justice, peace, and safety in the nations. We bring healing to the nations and speed up the propagation of the Gospel of our Lord Jesus Christ all over the world.”

Christmas Celebrations In Bethlehem Likely To Be Quiet

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JERUSALEM, Israel – The little town of Bethlehem will likely be much quieter than it usually is around Christmas time.

The Palestinian Health Ministry has recommended strict guidelines for Christmas celebrations this year due to presumed coronavirus pandemic.

Annual Christmas celebrations in Bethlehem usually include thousands of pilgrims, performances, and dazzling lights.

This year, the ministry recommends that the Christmas tree lighting ceremony in Manger Square be limited to just 50 people, and the tree’s lights and nearby restaurants closed by 9 p.m.

The ministry also says Christmas Eve church services should also be limited.

Palestinian officials are expected to reach a decision later this week.

Tourism, especially around Christmas time, is critical to Bethlehem’s economy. Jesus’ birthplace is usually bustling with shops and restaurants.

Limiting Christmas celebrations presents a major threat to Bethlehem’s economy, which has already been crippled by the pandemic.

Israel’s Ben Gurion Airport has been closed to tourists for months due to the virus outbreak. Israel is slowly emerging from its second lockdown in months while Palestinian officials are battling a spike in COVID-19 cases.

U.K To Impose Early End To Use Of New Huawei 5G Kit

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Telecoms providers must stop installing Huawei equipment in the UK’s 5G mobile network from September, the government has said.

The announcement comes ahead of a new law being unveiled on Tuesday, which bans the Chinese firm from the network.

Digital Secretary Oliver Dowden said he was pushing for the “complete removal of high-risk vendors” from 5G networks.

The new deadline falls earlier than expected, although maintaining old equipment will still be allowed.

Networks will now have to adjust their schedules for deployment of the reserves of Huawei 5G kit they have built up.

Previously, BT’s EE division, Vodafone and Three UK would have had until 2027 to install any such equipment acquired before the end of this year – when a purchase ban comes into effect.

Huawei told the BBC it would not be commenting on the announcement.