Uncategorized

Futureview Boss, market analysts advise investors on Presidential election

Published

2 years ago

August 1, 2022

NewsDirect

As the campaign for the 2023 Presidential election is gaining momentum, many investors have expressed fears that the election period might plunge the securities markets in Nigeria into volatility.

But market analysts have debunked the claim saying there was nothing to worry about as long as investors take appropriate decision during the period.

Commenting on the issue, a member of the Governing Council of Chartered Institute of Stockbrokers (CIS) and Group Managing Director, Futureview Group, Mrs Elizabeth Ebi, explained that the upcoming presidential election would not automatically translate to loss of money in the stock market if investors take appropriate investment decision.

According to her, volatility is part of every stock market as there cannot be transaction without buyers and sellers. Ebi noted that investors should not perceive investment during the election period as a risk, rather, they should base it on objective analysis with sound advice of their stockbrokers.

“ There is always a tendency for investors to be apprehensive when Presidential election is approaching. Risk averse investors would dumb shares. But this ought not be so. This is a period that investors should step back. They should put their personal emotion aside and make an objective analysis of the entire situation, especially how investment at that period can affect their personal finance.

“Whoever wins the Presidential election will have his economic blueprint to implement. They know that the stock market is a barometer for the economy. The market is always an avenue for trade off of risk and return. Investors should contact their stockbrokers at every moment of investment decision. There is no time that investors cannot make money from the stock market. It is a matter of investment strategy.”, said Ebi.

A renowned stock market a nalyst and Chief Executive Officer, Wyoming Capital and Partners, Mr Tajudeen Olayinka who advocated cautious investment, attributed the fears partly to threat of insecurity in the country. The financial engineer, argued that it was safe to invest in the country during election period as long as the security threat did not go beyond the current situation.

“ The best way is to ask thus: are we likely to have general elections in 2023? If the answer is yes, then it is safe to continue to invest in Nigeria. If the answer is no, then further investment in Nigeria could be threatened by failure of elections and transition. At this time, the chance that 2023 general elections will hold, and there will be transition, is more than 50 per cent.The reason around this figure is the threat from insecurity around the country. And so, it is safe to continue to invest in Nigeria, for as long as the security threat does not go beyond what we are already familiar with. So, invest in the market, but keep your eyes on issues around security and sincerity of government. In summary, invest cautiously.” said Olayinka.

Other analysts maintained that every investor should avert herd instinct whereby they invest just because others are investing.

“Investment is an art and science. Investment decision either before, during or after a Presidential election should not be based on emotion or an act of copy cat. It has to be a rational decision based on investment advice by a certified stockbroker or other investment adviser. Unfortunately, many investors base their decision on self-analysis even when they lack the technical know-how. In such situations, the investors stand the risk of losing money,” said an analyst.

Presidential aspirants of registered political parties have commenced campaigns as each party is unfolding its economic roadmap to attract votes during the election next year.

News

Ogun Govt sympathises with victims of Ado Odo/Ota over rainstorm destruction

Published

1 day ago

April 25, 2024

NewsDirect

…’We’re in touch with IBEDC for prompt action’

Ogun State Government said it is in touch with the Ibadan Electricity Distribution Company (IBEDC) to ensure the immediate fixing of poles damaged as a result of rainstorm occasioned by Sunday’s downpour in some parts of Sango in Ado Odo/Ota Local Government Area of the state.

The government, in a statement signed by the Special Adviser on Media, Hon. Kayode Akinmade said a team from the state government was in the area on Monday to physically ascertain the extent of damage and to know how to engage with IBEDC, as well as sympathising with victims.

Akinmade noted the cables had not been energised before the destruction, which saved lots of lives.

“Our team went on physical site inspection of the affected area on Monday to ascertain the extent of the damage and to know how to engage with the IBEDC team.

“We are currently working with the IBEDC team led by the Regional Manager and the Technical Head for the Ogun Region. Some of the less affected feeders have been restored and energised while the clean-up of the most affected areas has already started.

“Most of the poles on the roads have been removed while the remaining will be taken out today (Wednesday). We are working with IBEDC to ensure there will be full restoration of power in Sango Ota before the week runs out.

“The government is not relenting in its effort to make sure that we restore power to Sango Ota and its environs and we can assure the citizens that we are on top on the matter.

“We, therefore, commiserate with those whose properties were destroyed by the fallen poles, as the government urged those living in the area to remain calm.”

Residents of lyana lyesi, Osuke Town, Egan Road, lyana Ilogbo, Ijaba, Ijagba, Itele, Lafenwa, Singer, Joju, Alishiba, Oju Ore, Tollgate, Eledi, Akeja, Abebi, Osi Roundabout, Ota Town, Ota Industrial Estate, Igberen, lju, Atan, Onipanu, Obasanjo, Lusada, Arigba, Odugbe, Ado-Odo, Igbesa, Owode. Olokuta, Hanushi, Bamtish Camp Lufiwape, Eltees Farm, August Engineering, Spark Cear Soap Ayetoro, Amazing Grace Oil, Christopher University, Royal Garden Estate were affected by the disaster.

Uncategorized

FG urges newly appointed CDAs, Consuls-General to be good ambassadors

Published

2 days ago

April 24, 2024

NewsDirect

The Minister of Foreign Affairs, Mr Yusuf Tuggar, on Tuesday urged the newly appointed Chargé D’affaires and Consuls-General to be good ambassadors of Nigeria abroad.

Tuggar, in a statement by Alkasim Abdulkadir, his Special Assistant on Media and Communication Strategy, said playing their role as good ambassadors was pivotal to the economic drive of President Bola Tinubu.

Tuggar, who revealed that the appointment was with immediate effect, warned them as seasoned career diplomats to shun act of politicking

He urged them to recommit themselves to diplomacy for the collective interest and development of Nigeria.

Speaking on behalf of the new appointees, Amb. Abubakar Jidda, Consul-General to the Consulate in New York, reiterated commitment to upholding ethos of the profession.

He also promised to bring the much needed investment to the country, while thanking President Tinubu and the Ministry of Foreign Affairs for the confidence reposed on them.

The appointees posting are as follows Amb. Saidu Dodo – Damascus, Syria; Amb. Patrick Imologhome – Pyongyang, Democratic Peoples’ Republic of Korea; Amb. Francisca Omayuli – Singapore; Amb. Babagana Ahmadu -Bangui, Central African Republic and Amb. Mohammed Mohammed – Tripoli, Libya.

Others include Amb. Auwalu Namadina – Atlanta, USA; Amb. Nnamdi Nze – Bata, Equatorial Guinea, Amb. Francis Enya – Douala, Cameroon; Amb. Gbadebo Afolabi – Shanghai, China and Amb. Oludare Folowosele -Hong Kong, China.

Also are, Amb. Yakubu Dadu – Frankfurt, Germany; Amb. Taofik Coker – Buea, Cameroon; Amb. George Onwuekwe – Guangzhou, China; Amb. Umar Bashir -Johannesburg, South Africa and Amb. Zayyan Ibrahim -Dubai, UAE, Jeddah, Saudi Arabia

Politics

Ondo APC guber primary: Conduct yourself peacefully — Akinterinwa charges supporters

Published

7 days ago

April 19, 2024

Anita Anyanwu

By Akintunde Jacobs, Akure

Ahead of tomorrow’s governorship primary election of the All Progressives Congress (APC), in Ondo state, Wale Akinterinwa, has charged his teeming supporters to remain calm during the primary election of the party tomorrow Saturday, 20 2024.

Segun Ajiboye, the spokesperson for Wale Akinterinwa Campaign Organisation, in a statement made available to journalists on Friday in Akure, charged the supporters of the organization to remain calm despite the heated rhetoric and beating of war drums by the supporters of Governor Lucky Aiyedatiwa who have sworn to truncate the peaceful conduct of the primary election.

The statement said further; “You will recall that Akinterinwa and his supporters have peacefully conducted themselves during their tour of the 18 local government areas of Ondo State to solicit for votes of party members.

This reputation of ours should be maintained during the primary election tomorrow. We are confident of victory because we are the best among the rest.

The party members across the length and breadth of Ondo State have listened to us and have decided to vote for good governance. Wale Akinterinwa is the man for the job.

Again, we appeal to all our supporters to conduct themselves peacefully before, during, and after the primary election.