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Futureview Boss, market analysts advise investors on Presidential election

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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.

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Minister of Women Affairs Calls On IG to stop marriage plans of 100 orphans in Niger

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Mrs Uju Kennedy-Ohanenye has called on the Inspector general of Police, Kayode Egbetokun seeking an injunction  to stop the Speaker of the Niger State House of Assembly, Abdulmalik Sarkindaji, from marrying off girls who were orphaned after bandits attacked Mariga LGA on May 24.

The speaker recently announced that the gesture was “aimed at alleviating the suffering of the impoverished”, while also promising to pay the dowry for the bridegrooms.

The Minister said such an act is “unacceptable” which is why she petitioned the IG to halt the proposed marriage until it is certain that the girls willingly gave their consent and also to ascertain the ages of the girls and who they will be getting married to.

She said that the Child’s Right Act has to be taken into consideration with a full scale investigation. In her words, she stated that “These children must be considered, their future must be considered, the future of the children to come out of their marriage must be considered”.

She also noted that the girl-child should have access to education and should  also be empowered instead of being married off at the slightest inconvenience, which is why she said that  “the ministry has decided to take it up and we are going to educate the children.

“Those that do not want to go to school, we will train them in skill, empower them with sustainable empowerment machines to enable that child build his or her life and make up her mind who and when to get married”

She further stated that any contrary action by the speaker to hurriedly marry the girls off without proper investigation from the Federal ministry of Women Affairs would result in legal action against the speaker.

 

 

 

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5 persons remanded for kidnapping bus driver

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A Makurdi Magistrate’s court on Friday remanded five persons in Makurdi Correctional centre for alleged Criminal conspiracy, Armed robbery, Kidnapping and Act of Terrorism.

The defendants Terhile Iorkaana, Lanshima Orkunde, Msendoo Faasema, Nancy Shima and Mngusuun Hilega were arrested following a tip off.

The Magistrate, Mrs. Eunice Ndayaryo, did not take the plea of the defendants for want of jurisdiction.

She ordered that they should be remanded at the Makurdi Correctional centre pending the outcome of further investigations.

The Police prosecutor, ASP Stella Ngbede, told the court that the defendants were arrested by men of Operation Zenda tactical team led by Insp Amile Joseph.

He said the arrest followed a credible intelligence within Mbachegh council ward, Katsina-Ala axis, Benue.

The defendants, who are notorious members of a vicious armed bandit kingpin AKA Konyo, had on April 12, blocked the Ayati- Zaki Biam road and robbed motorists of their valuables.

They later demanded for the sum of N10 million through phone number 09154338395.

“Operation Zenda on getting the information of their hideout, stormed the area and arrested the bandits while five handsets and one 5.5.6x39mm live ammunition of type 06 rifle were recovered from them, ” she said.

According to her, the defendants during police investigation confessed to committing the crime while others are still at large.

The prosecutor said that investigation into the matter were still in progress and prayed the court to adjourn the matter to another date for mention.

She said the offence contravened section 6(b) and 1(1)(2)(a)(b) of the robbery and firearms special provisions Act 2004, Section 3(2) , 4(2) of the abduction

Others are, hostage taking, kidnapping, Secret cult and Similar prohibition law of Benue State 2017.

A Makurdi Magistrate’s court on Friday remanded five persons in Makurdi Correctional centre for alleged Criminal conspiracy, Armed robbery, Kidnapping and Act of Terrorism.
The defendants Terhile Iorkaana, Lanshima Orkunde, Msendoo Faasema, Nancy Shima and Mngusuun Hilega were arrested following a tip off.
The Magistrate, Mrs. Eunice Ndayaryo, did not take the plea of the defendants for want of jurisdiction.
She ordered that they should be remanded at the Makurdi Correctional centre pending the outcome of further investigations.
The Police prosecutor, ASP Stella Ngbede, told the court that the defendants were arrested by men of Operation Zenda tactical team led by Insp Amile Joseph.
He said the arrest followed a credible intelligence within Mbachegh council ward, Katsina-Ala axis, Benue.
The defendants, who are notorious members of a vicious armed bandit kingpin AKA Konyo, had on April 12, blocked the Ayati- Zaki Biam road and robbed motorists of their valuables.
They later demanded for the sum of N10 million through phone number 09154338395.
“Operation Zenda on getting the information of their hideout, stormed the area and arrested the bandits while five handsets and one 5.5.6x39mm live ammunition of type 06 rifle were recovered from them, ” she said.
According to her, the defendants during police investigation confessed to committing the crime while others are still at large.
The prosecutor said that investigation into the matter were still in progress and prayed the court to adjourn the matter to another date for mention.
She said the offence contravened section 6(b) and 1(1)(2)(a)(b) of the robbery and firearms special provisions Act 2004, Section 3(2) , 4(2) of the abduction
Others are, hostage taking, kidnapping, Secret cult and Similar prohibition law of Benue State 2017.

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NiMet predicts 3-day thundery, sunny weather conditions

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The Nigerian Meteorological Agency (NiMet) has predicted thunderstorms and sunshine from Sunday to Tuesday across the country.

NiMet weather outlook released on Tuesday in Abuja forecast sunny skies on Sunday, with few patches of cloud over most parts of the northern region during the morning hours.

According to NiMet, isolated thunderstorms are expected over parts of Kaduna and Taraba in a hazy condition over parts of  Yobe and Borno States later in the day.

“Cloudy skies with intervals of sunshine are anticipated over the North central region during the morning hours.

“In the afternoon/evening periods, isolated thunderstorms are envisaged over parts of the Federal Capital Territory, Plateau, Nasarawa,
Benue, Kwara, and Kogi States.

“Cloudy skies with spells of sunshine are expected over the inland states with chances of isolated thunderstorms over parts of Imo and Abia,” it said.

The agency envisaged the coast to be predominantly cloudy with chances of thunderstorms over parts of Cross River, Akwa Ibom and Rivers States, during the morning period.

It anticipated isolated thunderstorms over parts of, Oyo, Edo, Abia, Imo, Enugu, Ebonyi, Ogun and Delta States, while widespread thunderstorms are expected over most parts of the coast later in the day.

According to NiMet, sunny intervals with few cloud patches are anticipated over the northern region during the Monday morning hours.

It predicted isolated thunderstorms over parts of Kaduna and Taraba States, later in the day.

“The North Central should be cloudy with sunshine intervals during the morning hours with prospects of isolated thunderstorms over parts of Kwara, Niger, Kogi, Nasarawa, Plateau and the Federal Capital Territory, during the afternoon/evening periods.

“The southern region should be predominantly
cloudy with prospects of morning thunderstorms over parts of Enugu, Abia, Imo, Cross River, Rivers and Akwa Ibom States, during the morning hours.

“Later in the day, isolated thunderstorms are expected over the Inland states of Imo, Abia, Anambra, Delta, Edo, Oyo, Ondo, Ekiti, Enugu, Ebonyi and Osun States, while wide spread thunderstorms are expected over most parts of the Coast,” it said.

NiMet forecast sunny atmosphere with patches of cloud over the northern region during the
forecast period, with chances of Isolated thunderstorms over parts of Kaduna, Adamawa, Taraba and Bauchi states later on Tuesday.

According to the agency, the North Central, should be cloudy with sunshine intervals during the morning hours.

“Later in the day, isolated thunderstorms are envisaged over parts of the Federal Capital Territory, Kwara, Niger and Benue States.

“Cloudy atmosphere with intervals of sunshine
are expected over the inland and coastal areas of the South during the morning periods.

“Later in the day, isolated thunderstorms are expected over parts of Imo, Ondo, Abia, Edo, Enugu, Ebonyi and Oyo States, while widespread thunderstorms should prevail over most parts of the coast,” it said.

It urged the public to take adequate precaution as strong winds may precede the rains in areas where thunderstorms are likely to occur.

The agency advised airline operators to get updated weather reports and forecasts from NiMet for effective planning in their operations.

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