Nigerian Stock Exchange building

By Itohan Abara-Laserian

The Nigerian Stock Exchange (NSE) on Wednesday received members approval for listing by introduction at its 59th Annual General Meeting held in Lagos.

Otunba Abimbola Ogunbanjo, President of the National Council of NSE, said the approval would fast-track plans to re-register The NSE as the Nigerian Exchange Group Plc (NGXG) on the Nigerian Exchange Limited (NGX) once the NSE was completely demutualised.

Ogunbanjo said thatunder the resolution passed by the AGM, the conversion and re-registration was subject to the receipt of requisite approvals of relevant regulatory authorities.

He said that voting cleared the way for the listing of NGXG and for a new structure that would enable the Exchange to realise its vision of becoming Africas leading exchange hub.

According to him, NGXG Plc will be expected to realise all the benefits of demutualisation for its stakeholders and the capital market at large.

The National Council welcomes the strong endorsement by the members of the Exchange for our listing plans.

On behalf of the council, we wish to thank the Exchanges management for their outstanding work in the previous year, when they have faced unprecedented challenges such as the Coronavirus pandemic.

It is a tribute to their efforts that the exchange has continued to work effectively and at the same time has made significant progress in pursuing its strategic development through listing and other steps, he said.

Following the conversion and re-registration of the Exchange as Nigerian Exchange Group Plc, the powers of the National Council of the Exchange would be devolved upon the Board of Directors of the Group and the re-election as a Member of the National Council.

Mr Oscar Onyema, Chief Executive Officer of the NSE, who is the Group CEO of NGXG Plc Designate for the new structure, said: We would like to thank the membership of The Exchange for their overwhelming support of the listing plans.

This marks the beginning of the Exchanges transformation into a listed company with flexibility to raise additional equity and (or) debt capital.

It is our aim that under this new structure, the Nigerian capital markets will be able to play a role that is commensurate with Nigerias status as Africas biggest economy.

We believe we can become a financial hub for Africa and with the backing of our stakeholders and their continued use of our services this objective can become a reality, he added.

According to the Exchange, NSEs demutualisation was unanimously approved by its members at its court ordered meeting held in March 2020.

The demutualisation of the Exchange is subject to the approval of the Securities and Exchange (SEC) of Nigeria, which is expected imminently. (NAN)

Source: NAN News

Salah

Liverpool striker Mohamed Salah and Arsenal midfielder Mohamed Elneny have returned another positive test for COVID-19, the Egyptian Football Association (EFA) said on Wednesday.

Salah had previously tested positive for the coronavirus last Friday, on the eve of Egypts 2021 Africa Cup of Nations (AFCON) qualifier against Togo, while Elneny tested positive three days later.

Salah, who is the joint leading scorer in the English Premier League (EPL) this season with eight goals, will miss the visit from league leaders Leicester City on Sunday.

He is also likely to be ruled out of Liverpools UEFA Champions League game against Atalanta next Wednesday.

Elneny is expected to miss Arsenals trip to Leeds United on Sunday and their Europa League clash at Molde on Nov 26. (Reuters/NAN)

Source: NAN News

COVID-19 Vaccine Research

Argentina may start the COVID-19 vaccination with Russian vaccine, Sputnik V, in January or February 2021, Argentine President Alberto Fernandezs press service said on Wednesday.

On Nov. 6, Fernandez held a telephone conversation with Russian President Vladimir Putin and they discussed an agreement to provide Argentina with 25 million doses of the vaccine by late 2020 to early 2021.

We continue to work with Russia to start the vaccination in January and February, the Argentine president said.

According to the statement, Argentina is also planning to provide its population with the AstraZeneca Oxford COVID-19 vaccine in March.

The Sputnik V is the first COVID-19 vaccine registered in Russia and the world.

The vaccine is currently going through phase 3 trials in Russia, as well as in Belarus, India, the United Arab Emirates and Venezuela.

Sputnik V is 92 per cent effective, based on data from the first 16,000 trial participants who have received both shots of the two-dose vaccine.

The United Kingdoms AstraZeneca company is one of the leaders in the COVID-19 vaccine race.

AstraZenecas vaccine has passed two of the three phases of its vaccine trial.

The third phase is currently being conducted in the UK, Brazil and India. (Sputnik/NAN)

Source: NAN News

Prof. Chris Bode, Chief Medical Director (CMD) of the Lagos University Teaching Hospital (LUTH), Idi Araba, presenting a certificate to one of the awardees in the COVID-19 response team on Wednesday, Nov. 18, 2020. (NAN)

By Abiodun Azi

The Lagos University Teaching Hospital (LUTH) on Wednesday celebrated its COVID-19 response team in appreciation of the efforts put in to manage COVID-19 and patients.

Prof. Chris Bode, Chief Medical Director (CMD) of LUTH, told newsmen at an event to mark the 2020 LUTH Day in Lagos that the response team is dedicated and alive to the dictates of the profession.

We are gathered here today, not as a festival it used to be as LUTH Day to celebrate these heroes, but to also appreciate our COVID-19 warriors who have treated more than 600 community patients free of charge.

And we have learnt many lessons; when many of us fled, when many thought the best thing to do was to shut the gates and not control the danger of community, they forged ahead.

They are the true heroes of Nigeria. They are warriors to be celebrated. That is what we have chosen to do and of which means a lot to us.

We have been so lucky not to be dying in droves in Nigeria like it is happening in America and Europe, he said.

According to the CMD, the countrys health system has been challenged several times and the responses have been better than many other places.

Prof. Akin Osibogun, Chairman, Lagos State Primary Health Care Board, delivered a keynote address with theme: Team Work in the Management of COVID-19 in Nigeria.

Osibogun, who was a former LUTH CMD, said teamwork was an essential component of any efficient and effective healthcare delivery service.

Everyone matters in the management and treatment of patients. Teamwork is the key.

Small errors, even on the part of the cleaners or anyone in the health team, can lead to grave consequences.

He appealed to all medical and health workers to pay attention to details and also be properly supervised, monitored and controlled.

According to him, all the units and departments are working toward achieving a common goal.

Also, Dr Boboye Oyeyemi, Corps Marshal, Federal Road Safety Corps (FRSC), said he was honoured to join in the celebration of 2020 LUTH event.

Oyeyemi, who was the Special Guest of Honour, was represented by Olusegun Ogungbemide, a Corps Commander in FRSC.

He said, Today is unique.

Not because we are gradually emerging from the dark tunnel of COVID-19 pandemic but for the increasing institutional consciousness of recognition of the hero and heroine among us, while alive.

This is a great way to write our national history, build patriotism and foster commitment that gives life a deserving meaning.

The UN predicted a heavy death toll for Nigeria and Africa at the out-set of COVID-19 outbreak when nations with supposed stronger health management system were collapsing under the strain of the virus.

Today, however, the gloomy predictions are far from fulfillment and they are currently asking why, wondering what happened with sound empirical evidences that premised the projections, he said.

Oyeyemi said that the greatest humanly missing gap in that equation was the uniqueness of Nigeria medical practitioners with the Spirit of Naija.

He commended LUTH and its workers for their efforts and called for sustained zeal in the discharge of their duties.(NAN)

Source: NAN News

Illustration: Ongoing Road Construction

By Friday Idachaba

The Federal Ministry of Works and Housing (FMWH) has given assurance that the ongoing dualisation of Abuja-Lokoja-nBenin highway would be completed before December 2021.

Engr. Yusuf Jimoh-Adekunle, Director Highways, North-Central in the Ministry gave the assurance on Wednesday in Lokoja while inspecting the level of work by the contractors.

Jimoh-Adekunle said that the project inherited from previous administrations suffered setback due too poor funding.

He however, said that the President Muhammadu Buhari led administration had provided alternative funding platforms such as the SUKUK bond to ensure the completion of the project for the benefit of the people.

Jimoh-Adekunle said, we now have the SUKUK, we have Tax Relief, we have loans that we got from China NEXIM on some other projects.

This particular project is enjoying the SUKUK loan apart from the budgetary provisions.

The director who noted that funding was no longer a challenge, maintained that all that was needed was to ensure that the contractors were working.

So, this visit is mainly to ensure that quality work is being executed and that is why I have come together with my team, he added.

He expressed satisfaction with the progress of work so far.

Speaking further on the project, Engr. Jimoh Kajogbola, Federal Controller of Works in Kogi explained that the dualisation of section One of Lokoja-Benin road was in two phases.

We are on phase II now and it is about 41 kilometres. The total length of both phase one and phase two is about 58.15 km.

The contractor, CGC Nig. has partially completed phase one which included about 14km Okene by-pass virgin dual carriageway, except for some little issues which will be cleared, although it has been opened to traffic for more than two years now, Kajogbola said.

He said that the contractor was expected complete deliver the project by December, 2021.

So, it is now left for the contractor to work harder to be able to access the provisions made for them within budget and from SUKUK funding, We have about N2.5 billion to access this year 2020, Kajogbola said.

Alhaji Yaba Abubakar, Project Manager who spoke on behalf of CGC Nig. Ltd. assured that they would deliver on the project within the stipulated time given the level and pace of work.(NAN)

Source: NAN News

Gov. Yahaya Bello

By Stephen Adeleye

The Kogi Commissioner for Health, Dr Saka Audu, has refuted the rumour making the rounds that no fewer than 50 persons had died under strange circumstances in Etteh community, Olamaboro Local Government Area of the state.

A statement by the commissioner on Wednesday in Lokoja, denied the rumour of any strange deaths.

Audu said the state has a well establish network by which disease outbreaks are reported from the community, local government levels to the state level, and therefore it was unlikely that an incident of that magnitude could go unnoticed.

We have focal persons (informants) in strategic locations across the State who pass the information on Diseases of public Health interest to the Disease Surveillance and Notification Officer (DSNO) at the Local Government level.

The DSNO Locsl Government then transfers this report through the DSNO (SMOH) to the State Epidemiologist who in turn brings such cases to my attention.

By implication, we are kept abreast at all times of happenings in every part of the State. It is therefore unlikely that an incident, the magnitude as reported will pass unnoticed, he said.

Audu explained that when the Enugu State Commissioner for Health issued a recent press statement confirming an outbreak of Yellow Fever in his state, we sent a Rapid Response Team from the Kogi State Ministry of Health.

The team was accompanied by WHO, to Ette community that shares border with Enugu State, without waiting for the usual channel of communication as a proactive measure.

He added that when the team arrived the area on Nov. 7, they met with the community leaders, health workers, public and private hospitals and held meetings with the people, during which they conducted massive Health education on how to prevent Yellow fever from spreading.

Audu also said that the team gave out the ministrys Rapid Response toll-free lines to the people of the community, as well as Health workers and heads of institutions, to report the occurrence of any strange illness or deaths in excess of what was the norm.

As at this moment, nobody has reached out to us. As a matter of fact, we have been having phone conversations with our contacts in that region, and there was no report of any mysterious death or outbreak of strange disease in Kogi State, the health commissioner said.

The Commissioner stressed that yellow fever outbreak was one they were well acquainted with in the State and ever ready to tackle.

We had an outbreak in Okoloke axis of Yagba-West Local Government area in 2017 as a result of which we vaccinated all the people in the region and adjoining communities in Kogi and Kwara States. Eventually, in 2018, we had Yellow fever vaccination for all eligible persons across the State.

In all these, we thank our Health Development Partners and the Federal Government for their collaboration. We intend to go back to the community to vaccinate persons who may have missed out on the 2018 vaccination.

Yellow fever vaccination offers protection for up to 10 years. Afterwards, booster doses may then be required for those travelling to areas where Yellow fever is endemic, he said.

He allayed the fears of the people, advising them to go about their normal businesses and report any case of any strange illness or death through the dedicated Toll-free lines.

He urged the people to maintain personal and environmental hygiene, prevent mosquito bites by clearing their surroundings and drainages, to prevent water lodging around residential areas. (NAN)

Source: NAN News

Bandits in North West

By Mohammed Tijjani

Three members of the Kaduna State Vigilance Service have been killed in an ambush by bandits in Chikun local government area of the state.

The Commissioner, Internal Security and Home Affairs, Mr Samuel Aruwan, said in a statement he issued on Wednesday in Kaduna.

He said the vigilantes, identfied as Alison Musa, Dauda Audu and Ishaya Sarki, were killed on Tuesday night when bandits ambushed them at Dande village on their way from Damba-Kasaya in Buruku general area.

Aruwan stated that two of their colleagues, Ayuba Tanko and Doza Adamu, however, sustained injuries in the attack.

Governor Nasir El-Rufai has sent condolences to their families and prayed for the repose of their souls, while wishing those that sustained injuries speedy recovery, the statement said.

Meanwhile, the Governor has commended land and air troops of Operation Thunder Strike for a successful operation around Kuku area, at the Kagarko local government axis of Kaduna-Abuja Road, saying that he received with gratitude, information that the first air strikes hit some of the target structures and neutralized some of the bandits.

He noted with appreciation the air support provided the ground troops by a Nigerian Airforce helicopter gunship as they advanced to Kagarko, via Kuku into the bandits enclave.

In another development, the commissioner has said that armed bandits on Tuesday opened fire on motorists close to the Nigerian Defence Academy (NDA), but were repelled by troops.

He appealed for vigilance and prompt reporting to the security agencies any suspicious movements or activities.

The commissioner added that residents could provide information through the state security operations room phone numbers and e-mail address: , , (NAN)

Source: NAN News

Donald Trump, U.S. President

President Donald Trumps campaign wired 3 million dollars to officials in Wisconsin to fund a partial recount of votes in the Nov. 3 U.S. presidential election, an official said.

The State Elections Commission said this in a Twitter statement on Wednesday.

The Wisconsin Elections Commission has received a wire transfer from the Trump campaign for 3 million dollars.

No petition has been received yet, but the Trump campaign has told WEC staff one will be filed today. We have no further information at this time, the commission said.

The Trump campaign in a separate statement said it would file a petition later in the day for a recount in two counties, Milwaukee and Dane.

The statement cited illegally altered absentee ballots, illegally issued absentee ballots, and illegal advice given by government officials allowing Wisconsins Voter ID laws to be circumvented.

The campaign contends that officials sent absentee ballots to indefinitely confined voters without requiring that the voters submit identification, as required by state election laws.

A state website defines indefinitely confined voters as people with restricted mobility due to age, physical illness, infirmity or disability.

The Trump campaign claimed the number of confined voter ballots surged from 72,000 in 2019 to 240,000 in the November election and that a substantial number of those ballots were returned without proper identification.

The latest tally shows Biden beat Trump in Wisconsin by more than 20,000 votes. (Sputnik/NAN)

Source: NAN News

FAAC

By Temitope Ponle

Mr Aliyu Ahmed, the Permanent Secretary, Ministry of Finance, Budget and National Planning on Wednesday said the three tiers of government shared N604.004 billion as federation allocation for October.

Ahmed said this in a statement issued by Mr Hassan Dodo, the Director for Information at the end of the Federation Accounts Allocation Committee (FAAC) meeting in Abuja.

The permanent secretary said the N604.004 billion shared included cost of collection to Nigeria Customs Service (NCS), Department for Petroleum Resources (DPR) and Federal Inland Revenue Service (FIRS).

He said the Federal Government received N220.751 billion, the States received N161.825 billion, and the Local Government Councils (LGCs) got N120.588 billion.

Ahmed added that the oil producing states received N31.902 billion as derivation (13 per cent of mineral revenue) and cost of collection/transfer and refunds got N48.939 billion.

According to the communique issued by the committee, gross revenue available from the Value Added Tax (VAT) for October was N126.463 billion.

This was against N141.858 billion distributed in the preceding month of September, resulting in a decrease of N15.395 billion.

The distribution is as follow: Federal Government got N17.642 billion, the States received N58.805 billion, Local Government Councils got N41.167 billion, while Cost of Collection/Transfer and Refundgot N5.059 billion and Allocation to NEDC project received N3.794 billion.

The distributed Statutory Revenue ofN378.148 billion received for the month was higher than the N341.501 billion received for the previous month by N36.647 billion.

From the amount, the Federal Government received N166.195 billon, States got N84.296 billion, LGCs got N64.989 billion, derivation (13% Mineral Revenue) got N21.581 billion and Cost of Collection/ Transfer and Refund got N40.086 billion.

The communique also revealed that Oil and Gas Royalty, Companies Income Tax (CIT) increased substantially.

However, Import Duty, Excise Duty, VAT, and Petroleum Profit Tax (PPT) recorded decreases.

It further disclosed that the total revenue distributable for the current month was augmented with the sums of N72 billion and N7.392 billion from Forex Equalisation and FGN Intervention respectively.

It said it included an augmentation of N20 billion from the Stabilisation Account.

This is because of low revenue which is to be shared accordingly to the three tiers of government, bringing the total Distributable Revenue to N604.004 billion.

The balance in the Excess Crude Account as at Nov. 18 stands at 72.409 million dollars. (NAN)

Source: NAN News

Yekini Nabena, APC spokesperson

By Emmanuel Mogbede

The All Progressives Congress (APC) has said that there is no court order restraining its Caretaker and Extra-Ordinary Convention Planning Committee from conducting membership registration as being speculated.

Mr Yekini Nabena, the partys Deputy National Publicity Secretary, said this in a statement on Wednesday in Abuja while reacting to the development.

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