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Business News

GT Bank tops volume chart in today’s trading session

The NSE closed in the red today. The All Share Index ended today’s trading session at  31,042.32 basis points, down 0.31%.

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Investors cash in with N1.2 trillion at Nigeria’s stock market for the month of May. ,Chartered Institute of Stockbrokers, Nigerian Stock Exchange, NSE

The Nigerian Stock Exchange closed in the red today. The All Share Index ended today’s trading session at  31,042.32 basis points, down 0.31%. Year to date, the index is down 1.24%

Top Gainers and Losers

Red Star Express Plc was the best performing stock today. The stock gained 10% to close at N5.50. University Press Plc was next appreciating by 8.11% to close at N2.00. Stanbic Ibtc Bank Plc rounds up the top three gainers for the day, adding 6.59% to close at N48.50.

On the flip side, Academy Press Plc was the worst performing stock today. The stock declined by 8.33% to close, at a five year low of N0.33.

Consolidated Hallmark Insurance Plc fell by 6.90% to close at N0.27. Access Bank Plc rounds up the top three losers for today, shedding 6.57% to close at N6.40.

Top Trades by Volume

Guaranty Bank Plc was the most actively traded stock today. 46 million shares valued at N1.4 billion were traded in 238 deals. Access Bank Plc was next with 18.5 million shares, valued at N121 million traded in 289 deals. FBN Holdings Plc rounds the top three most actively traded stocks today. 16.4 million shares, valued at N134 million were traded in 185 deals.

Corporate Actions

Access Bank has announced the appointment of Chizoma Okoli as Executive Director, Business Banking division. Prior to her appointment, she was an Executive Director Business Development in Diamond Bank. The two banks became a single entity last week.

UACN Property Development Company has announced a delay in the release of its full year financial statements to May 10, 2019. The company’s auditors have indicated a paragraph on material uncertainty related on going concern will be included in their audit opinion. They have thus submitted a copy of the statements alongside a memorandum to the Financial Reporting Council (FRC) for review.

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    Coronavirus

    Covid-19: WHO approves China’s Sinopharm vaccine

    WHO has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.

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    Covid-19: First world nations oppose waiving intellectual rights for vaccine development

    The World Health Organization (WHO) has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.  The vaccine is reported to have 79% efficacy against covid.

    This was disclosed today in a report by Reuters. The vaccine would also be the second Chinese-made vaccine after Sinovac vaccine and would be the first developed outside Europe and North America to receive WHO accreditation.

    “This expands the list of COVID-19 vaccines that COVAX can buy, and gives countries confidence to expedite their own regulatory approval, and to import and administer a vaccine,” WHO Director-General, Tedros Adhanom Ghebreyesus said.

    The WHO added that the easy storage requirements make it highly suitable for low-resource settings.

    “Its easy storage requirements make it highly suitable for low-resource settings,” a WHO statement said while also disclosing that the vaccine has been approved for people above the age of 18 to receive two shots.

    “On the basis of all available evidence, WHO recommends the vaccine for adults 18 years and older, in a two-dose schedule with a spacing of three to four weeks,” the statement added.

    The vaccine was created by Beijing Biological Products Institute, a subsidiary of Sinopharm subsidiary China National Biotec Group, with an efficacy of 79% for all age groups.

    The WHO however, admitted that few older adults (over 60 years) were enrolled in clinical trials, so efficacy could not be estimated in this age group.

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    In case you missed it

    The quest for vaccine efficiency got a major boost earlier this week as Nairametrics reported that the United States government announced that it supports the waiver of Intellectual Property Protections on Covid-19 vaccine development, in a bid to boost the fight against the pandemic, and says it will participate in the Okonjo-Iweala-led WTO negotiation to make it happen.

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    Obituaries

    “Mama Taraba”, Former minister and senator, Aisha Al-Hassan is dead

    Ex-Women Affairs minister, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead

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    A former Minister for Women Affairs and ex-Governorship Candidate in Taraba State, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead.

    According to media reports she died in a hospital on Friday in Cairo, Egypt at the age of 61.

    Al-Hassan, who was a former senator of the Federal Republic of Nigeria from Taraba North Senatorial District, was the All Progressive Congress (APC) Governorship Candidate for Taraba in the 2015 general elections.

    READ: Abba Kyari’s last letter to President Buhari

    She later contested for the same seat on the platform of the United Democratic Party in the 2019 general elections after resigning from APC and as a minister in the administration of President Muhammadu Buhari on July 27, 2018.

    The former senator was born on the 16th of September, 1959 in Jalingo, Taraba State, to Alhaji Abubakar Ibrahim, Sarkin Ayukan Muri.

    READ: Chad’s President Deby dies of injuries suffered on the frontlines, as son takes over

    Aisha Jummai Al-Hassan attended Muhammed Nya Primary School, Jalingo and LEA Primary School, Tudun Wada, Kaduna before proceeding to Saint Faith College (now GGSS) Kawo Kaduna where she studied between January 1973 and June 1977.

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    Details later…

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