Financial Markets Close For Holiday

Nigerian Stock Exchange, NS, Financial Market, Stock Market, Independence HolidayFinancial markets across Nigeria are closed for the country’s 56th independence holiday.

Markets had closed on Friday to reopen tomorrow, Tuesday October 4.

Before the holiday, the financial markets had closed largely bearish but marginal gains were recorded in the equity market.

The last trading in September ended marginally positive as the all share index and market capitalisation rose further by more than a quarter of a percent, on the back of price advance by some mid-cap stocks.

However, market breadth was negative with 16 gainers against 22 losers on the price table.

The top three gainers for the day were Pharmadeko, NAHCO and Honeywell Flour Mills while Caverton, Nothern Nigeria Flour Mills and Conoil were the three most significant decliners.

Nigerian Stock Exchange, NS, Financial Market, Stock Market, Independence Holiday

Friday’s transaction was lower than the previous session, as it recorded a total turnover of 217.8 million shares worth 2.38 billion naira in 2,804 deals.

The most traded stocks were banking giants, Ecobank Transnational Incorporated, FCMB and Zenith Bank.

Research analysts believe that markets direction will be shaped by the third quarter numbers this week as yields in the local bonds market tend to inch higher.

Meanwhile, the Central Bank plans to auction 135.7-billion-naira worth of treasury bills on Wednesday with a view to curb speculations against the naira at the foreign exchange market as well as inflation.

#NigeriaAt56: Entertainers Urge Nigerians To Remain Positive

chigul,funke akindele,Nigerians

 As Nigeria marks another Independence Day, stakeholders in the entertainment industry are encouraging Nigerians to remain positive in the tough times.

While some of the entertainers believe that the nation’s growth is stunted and there is hardly any progress, others insist on treading only the positive lane.

Sammy Okposo and Wife

Celebrities in the fashion, music as well as film industries have opined that although the economic situation of the country is not favourable, there could be light at the end of the tunnel if Nigerians remain positive.

Funke Akindele Bello

Funke Akindele, appealed to Nigerians to kick against war, violence and anything that could come in the way of peace.

“We hope that at the end of the day, we are alive to witness the change,” the actress said.

Funke Akindele Makes Appearance With Husband At ‘A Trip To Jamaica’ Premiere

It ay, fuke akindelewas a star-studded, black carpet event at the premiere of AY’s new movie, ‘A Trip to Jamaica’, in Lagos.

Among those in attendance were fans, supporters as well as celebrities in the music, film and fashion industries.

The movie, which was a mix of Hollywood, Nollywood and Ghallywood actors, featured Funke Akindele, Nse Ikpe Etim, Chris Attoh, Dan Davids, Eric Roberts, Rebecca Sylvera, Paul Campbell and AY among others.

In 2014, comedian Ayomakun popularly known as AY, released his debut feature length film ’30 days in Atlanta’, which gained rave reviews and eventually became a box office hit, as the highest grossing film in Nigerian cinema.

Despite mixed reviews, the Robert Peters directed comedy, came back with the spin-off in 2016 ‘A Trifunke akindelep To Jamaica’.

AY, who is regarded as one of Nigeria’s highest grossing comedians, explained that he decided it would be a good idea to shoot the movie in Jamaica because he discovered after some research, that “Jamaicans love Nollywood movies, and we also love their culture, especially in the aspect of Music”.

He also said that as part of making it work, there were a lot of collaborations along-side the movie. Such collaborations he said were between Tiwa Savage and singer, Busy Signal, who created the official motion picture soundtrack for the movie.

Director, Robert Peters further explained the multicultural film, saying “we are trying to connect, trying to make a cross cultural movie and at the end of the day, it is aimed at giving our film a world view”.

AY also addressed concerns on piracy, a menace to which the ’30 days in Atlanta’ fell victim. He said certain measures have been put in place to avoid a repetition.

He, however, appealed to the government to take proactive steps to allay the fears of stakeholders in the creative industry.

Funke Akindele And JJC

Another interesting detail that crowned the event was the first time appearance of Funke Akindele, A.K.A Jenifa, with her singer husband, Abdul Rasheed Bello A.K.A JJC skills.

The couple, who had gotten married in a secret wedding, in London on August 23, 2016, finally came open in public for the first time during the premiere of the movie ‘A Trip To Jamaica’.

Reports say they chose a quiet wedding in London because neither of them wanted to be at the center of attention, having been on that lane before.

“The decision to do it quietly was right for us and we pray for the understanding of our close friends and fans at this offer of a lifetime moment,” the couple said.

Governor Ayade Asks NDDC To Execute Projects In Cross River

NDDC, Ayade, Cross-riverGovernor of Cross River State, Professor Ben Ayade, has appealed to the Niger Delta Development Commission, (NDDC), to faithfully execute all the projects it allocated to the state in the 2016 budget.

The Governor made the appeal on Tuesday, at the Government House in Calabar, when the Senate Committee on the Niger Delta and the NDDC directors led by the Acting Managing Director, Mrs Ibim Semenitari, paid him a courtesy visit.

He was represented by the Deputy Governor, Professor Ivara Esu, who said that the state deserved sympathy because it was disadvantaged among the Niger Delta states.

The governor’s plea came just as the government is considering to begin work on Calabar-Itu-Ikot Ekpene-Aba Road in Cross River State which had been in a poor state.


While the River State Governor is asking for more projects in the state, the 127.6 kilometer long Lagos–Ibadan Expressway, a major route to the northern, southern and eastern parts of Nigeria also craves for attention.

The contractor, Julius Berger, may have returned to site but the impact of rehabilitation said to be ongoing, is yet to be fully felt.

Rail transportation has also been a major craving as it would serve as an alternative in reducing the current pressure on Nigerian roads.

In June, the Minister for Transportation, Mr Rotimi Amaechi disclosed that the proposed Lagos-Ibadan segment of Lagos-Kano rail line and the Port Harcourt- Calabar project, would be ready and operational within the next two and half years when the administration would be rounding up its four-year term.

So far, the government through the Minister Of Finance, Kemi Adeosun, claims it has released 420 billion Naira into the system, with plans to add another 350 billion Naira.

That, according to the Minister, makes 770 million Naira already channeled into capital projects, especially in the works, defense, transportation, interior, power and agriculture sectors.

She also disclosed that the administration was working on raising $1 billion Eurobond and the proceeds for this, would be used only for capital projects.

We Were Not Our Abductors’ Target – Isheri Kidnap Victim

Isheri Kidnap, Kidnap VictimsOne of the victims of the kidnapping in the Isheri estate area has revealed that they were not the real target of their abductors.

Speaking exclusively with Channels Television after their release, he explained that their abductors claimed to be Niger Delta freedom fighters who told him that they were merely using kidnapping to bring government’s attention to their demands.

Relieved, but still apprehensive, he recounted his ordeal in the hands of their abductors.

He described their abductors as people from the riverine communities in the Niger Delta region, who accused the government of neglect.

They insisted that only rapid development of their region can halt their criminal activities.

“They said they were freedom fighters, they were in a struggle and their struggle is to empower or emancipate the Niger Delta people. If the government does not listen to them, they are going to ultimately separate the Niger Delta from Nigeria.

“For now, what they want is proper development of their region, and they want to cause terror anywhere ‘their pipe’ goes to.

“Their major objective in Lagos is to kidnap senior politicians or ‘big men’. We were not big men so we were like the wrong target at the wrong place at the wrong time,” he said.

The victim, however, said that they were treated well while in captivity.

The four men were kidnapped by three armed men at Isheri area in Ogun state on Saturday but regained their freedom and were seen coming out of the waterside at about 11pm on Thursday looking exhausted and unkempt.

Ogun-Police-Iliyasu-Isheri-kidnap, Isheri Kidnap, Kidnap Victims
Ogun State Police Commissioner visits the kidnap victims

The men were kidnapped during an aerobic session and the abductors, who established contact with the families later demanded the sum of 300 million Naira each for their release.

The Police, however, assured the families that they were on a massive manhunt for the kidnappers.

After their return on Thursday night, the Commissioner of Police in Ogun State, Mr Ahmed Iliyasu, told Channels TV that the release of the men was as a result of the pressure mounted on the kidnappers by security operatives.

And during a visit to the homes of the released captives on Friday, he further reaffirmed the commitment of the Police to the safety of the people.

He promised that security would be reinforced in the community.

Meanwhile, residents have observed that the waterways also need to be secured, to prevent them from being launch pads for criminal elements.

Isheri Kidnap Victims Regain Freedom

Isheri-northReports reaching us say that the four men who were kidnapped by three armed men at Isheri area in Ogun state have regained their freedom.

Eyewitnesses told Channels Television that the men were seen coming out of the waterside at about 11pm on Thursday looking exhausted and unkempt.

The men were said to have asked vigilantes on patrol of the area to take them to their homes.

A resident of the estate, who visited the victims said that they were safely in their homes but could not confirm whether any ransom was paid for their freedom.

The Commissioner of Police in Ogun State, Mr Ahmed Iliyasu claimed that the release of the men was as a result of the pressure mounted on the kidnappers by security operatives.

The men were kidnapped during an aerobic session on Saturday September 17.

The abductors, who established contact with the families earlier on Sunday, had demanded the sum of 300 million Naira each for their release.

The Police, however, assured the families that they were on a massive manhunt for the kidnappers.

Artist Megaloh Brings German-Nigerian Vibes To Lagos

megaloh, nigerian, german, lagosIt’s a full moon homecoming to remember for Rapper Uchenna Van Capelleveen, better known by his stage name Megaloh as he brings his German-Nigerian vibes to Lagos.

Uchenna, an acclaimed name already within the German hip-hop circle, presented his craft to Nigerians and received impressive response even though delivery was in a foreign language.

The artist who was bred in Germany but Born by a Nigerian, admitted that leading a multiracial life initially came with a bit of identity crisis.

megaloh, nigerian, german, lagos
(Megaloh) German-Nigerian Artist

However, at a crucial period in his life, he found rap music and that eventually helped him define his personality.

Through his music, he transformed the perceived negativity associated with him being multiracial, to his advantage.

Although hip-hop isn’t a mainstream genre in his home country Germany, according to him, he has been able to record impressive success that has gotten him mainstream attention.

While he grew as an artiste, he continued to think about his roots in Nigeria as well as monitor from a distance, the Nigerian music industry and at some point he created the track ‘oyoyo’ as an ode to Nigeria.

Seeing the incredible growth of hip-hop music in Nigeria, the artist has resolved to initiate his integration into the Nigerian music circle.

megaloh, nigerian, german, lagos, adebantu
Ade Bantu and Megaloh

As his career advanced, Megaloh found an associate, Ade Bantu, who is also a German-Nigerian entertainer, and one who he says he will help him realise his dreams.

Megaloh has taken the bold step to bring his music back to his roots and although it is impossible to pre-determine how this would pan out, he has gone ahead to start a new chapter in his life.

He said he hopes to connect more with the Nigerian language and people.

Kogi Govt. Explains Controversial $12M Vehicle Purchase

abdulkarimThe Special Adviser to the Kogi State Governor on Media and Strategy, Abdulkarim Abdulmalik, has confirmed that 110 vehicles were indeed procured for security agencies in the state and not for politicians.

He was on Channels Television’s Sunrise Daily on Monday to clear the air on the 12 million dollar controversy surrounding the procurement of the vehicles.

He said that the cars were not bought for government appointees but instead, the 110 of them were given to security officials, as well as hundreds of motorcycles given to the vigilante to mark the 25th anniversary of the state.

This, according to him, was aimed at boosting security in the state as cases of kidnapping and other crimes had been on the increase.

Mr Abdulkarim further stated that the allegations that the over 110 cars were bought for members of the State House of Assembly and traditional rulers in the state were false.

He explained that no government official, including himself, had been given any car in the last seven months, adding that the vehicles in question were vans.

“They were distributed to the military, the Police, Civil Defence and vigilante, to enable them become more effective and proactive, in ensuring the tide of criminality in the state is brought to a halt,” he said.

Good of the State

In response to a letter by the Commissioner For Finance, acknowledging a 12 million dollar loan, the Special Adviser explained that the amount should not be considered a problem, as it is being used for the good of the state.

He, however, did not state what the exact figures were, and how they were being spent.

He said that the letter was referring to the set of vehicles to be bought for government appointees, and not the already bought security vans.

For the cars, “what I am saying is that we have not even done that yet, we are simply at the negotiation level”, he explained.

“Governance is about the people, and for a government appointee to be able to perform his duties properly, he has to be given a vehicle to ease his transportation from one place to another,” he added.


Isheri Kidnappers Request 1.2bn Naira Ransom

kidnapped, Isheri North, Isheri,The gunmen who kidnapped four residents of Isheri area of Lagos State, are asking the families to pay 300 million Naira each, before they can be released.

The abductors, who established contact with the families earlier on Sunday, said the captives would be released once the monies were deposited at a designated point.

Meanwhile the police have assured the families that they were on a massive manhunt for the kidnappers.

The Ogun State Commissioner of Police, Mr. Ahmed Iliasu told Channels Television that a combined team of 30 policemen have been deployed to the area in search of the kidnapped residents.

The four victims were said to have been kidnapped during an aerobic session in the early hours of Saturday.

An eyewitness said the three kidnappers who were all armed and masked, came in from the water side.

Kidnappers seem to have gone on rampage as several cases have been reported recently in states across Nigeria.

3 Kidnapped Oil Workers Escape In Rivers

Meanwhile, three of the 14 oil workers kidnapped along Omoku/ Elele road on September 2, have recently escaped from their abductors.

Four of the victims had initially escaped, leaving the number of those still in captivity, at seven.

Speaking to Channels Television in Port Harcourt, two of the escaped victims said the constant movement of the kidnappers gave them the opportunity to escape.

Citizens are therefore adviced to remain highly security conscious, as it is believed that the last few months of the year, usually prove to be more dangerous with an increase in criminal activities.

From Ebonyi To Lagos, Humblesmith Shares Life’s Untold Story

HumblesmithNow in the spotlight, a place he has toiled several years to arrive at, Humblesmith, born Ekene Ijemba, shares his untold story of struggling in Ebonyi state, eastern Nigeria, where he started out as a dancer.

He also worked as a producer and songwriter but was forced to move to Asaba, where he believed he would be able to establish himself as an artiste.

After several years of moving around in the entertainment industry, taking up different opportunities, no matter how little, Humblesmith wrote and released the song ‘Osinachi’, which shot him into the limelight.

Nigerian Army Honours Officers In Yobe

armyThe 27 Task Force Brigade of the Nigeria Army in Yobe State, north-east Nigeria, has honoured its officers and men for their gallantry in the fight against the Boko Haram terrorists.

At a ‘Medal Parade’ in Damaturu, the Yobe State capital, all the officers and men involved in the operation “Zaman Lafiya” for a period of six months, were honoured with the medals.

Another category of the awards is the Nigerian Army Purple Heart Medal Award meant for those killed or injured while in active service.

At the ceremony in Damaturu, the State Governor, Ibrahim Gaidam, applauded the officers and men for giving their all, for the restoration of peace and stability in the troubled state.

‘Never Be Forgotten’

The Governor said the awards symbolise the expression of government’s gratitude and assurances that the sacrifices and services rendered to their fatherland shall ‘never be forgotten’.

Ibrahim Gaidam also said that apart from the proactive role his administration had been playing since the beginning of the insurgency, the provision of logistic support and giving wrap attention to welfare of officers and men would continue to receive the needed priority.

He said: “In addition to providing logistic support, we have been according priority attention to the welfare of the officers and men who prosecute the insurgency campaign through the provision of drugs to the brigade clinic, payment of allowances, payment of medical bills of those who sustained injuries and assistance to the families of our heroes who lost their lives while combating insurgency in the state”.

He paid glorious tribute to those killed in the various operations saying “they have not died in vain as their patriotic act will forever remain green in the memories of well-meaning Nigerians”.

The Army Spokesman of the 27 Brigade, Captain Eli Lazarus, while reading out the citation of “Operation Zaman Lafiya” and the Purple Heart Medals Awards, said the awards were approved by the Chief of Army Staff for the gallantry exhibited by the officers and men of the brigade in the various operation against the insurgency which has of recent liberated Gulani and Gujba from the terrorists.

He said the brigade had deployed personnel in Nguru, Damaturu, Geidam, Gashua, Katarko, Goneri/Buni Yadi and would continue to work assiduously towards restoration of peace in the affected areas.

AFCON 2017: Chad Game, A Must Win – Keshi

keshiNigeria’s Super Eagles Coach, Stephen Keshi, says the team must win the Chadians in Saturday’s African Cup of Nations (AFCON) qualifying match to make progress in its quest to be in Gabon for the tournament in 2017.     

Coach Keshi, who spoke ahead of the match against the Les Sao of Chad at the Ahmadu Bello Stadium in Kaduna, explained that despite the fact that the team parades a complete set of new players, the Eagles had all it takes to qualify at the group stage to book a place in Gabon.

During a news conference at the Eagles Intercontinental Hotel base in Kaduna, Nigeria’s north-west on Wednesday, the Eagles coach said the Chadian team parade quite a number of professional players and therefore should not be underrated.

He also described Nigeria’s absence at the last Nations Cup as a disaster which must not be allowed to happen again.

Mr Keshi had earlier expressed optimism that the re-branded Super Eagles would fly over the Chadian side.

Captain of the team, Vincent Enyeama and Odion Ighalo of the newly promoted Watford FC of England also expressed confidence that the team had all it takes to defeat the Chadians on Saturday.