Business
Banking Subsector Drives Volume At Exchange
Equity trading in the Nigerian Stock Exchange closed the three-day trading week with the banking sub-sector dominating the volume drivers’ table as it recorded 175.9 million shares worth N1 billion in 3154 deals. Volume in the sub-sector was buoyed by activities in the shares of Fidelity Bank Plc which traded 39.6 million shares valued at N101.6 million in 272 transactions. It was followed by First Bank of Nigeria Plc with 217 million shares worth N304.8 million in 798 trades.
The banking sub-sector also dominated other sub-sectors of the market in volume terms as the market re-opened for the week with transactions done in 3,013 deals, it recorded 463.1 million shares worth N1.4 billion.
The Insurance sub-sector, on the last trading day, emerged second with 72.8 million shares worth N64.9 million in 455 deals compared with 37.8 million shares valued at N29.2 million in 439 deals which it recorded the first trading of the review week.
Volume in the insurance sub-sector was boosted by activities in the shares of Cornerstone Insurance Plc and AIICO Insurance Plc which exchanged 41.9 million shares and 12 million shares valued at N24.3 million and N10.7 in 34 deals and 222 deals respectively.
The food/beverages and tobacco sub-sector as usual trailed the Insurance sub-sector exchanging 28 million shares worth N369 million in 483 trades compared with 7.5 million shares worth N126.4 million recorded at the beginning of the week in 371 deals.
In all, the market turned over 356.1 million shares worth N2.1 billion down from 422.7 million shares worth N2.7 billion exchanged in 6,305 deals the previous day.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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