Dangote Group of Companies had Partnered with Port Harcourt Club in equipping its library to standard.
Speaking at the commissioning ceremony of the library the company’s Managing Director, Alhaji Adesina Sijuade Tajudeen said the gesture was one of its corporate efforts in boosting education and commended the management of the club for judiciously utilising the amount given to them for the project.
Tajudeen who noted that gone were the days when schools had a dispensary and library, said that the equipping and commissioning of the Port Harcourt Club library would help in improving the reading culture of children, so that they could be future authors.
He expressed satisfaction with the provision of computers and a website in the library and enjoined the management and the children to protect and utilise them effectively, as it is first of its kind.
In his remarks, the president of Port Harcourt Club, Mr. Churchill Uti thanked Dangote Group for their support to the Club and hoped that the spirit would be sustained for closer relationship.
Uti was happy with the company’s corporate gesture to partner with individuals and organisations alike to improve facilities at the club, and assured of judicious good use of the facilities.
He said that the Dangote Group donated the sum of N5 million for the establishment and upgrading both the adult and children library as well as a website and computers for the section, pointing out that the library is free for all members of Port Harcourt Club and their families.
The president reiterated his dream to make Port Harcourt Club grow faster than any other club in the country, and assured that with the support and co-operation of all, his dream will be actualised.
Mr. Uti however, called on other companies, organisations and individuals to borrow a leaf from Dangote Group as they have been doing a lot in sports and education nationwide.
Highlights of the occasion was the presentation of souvenir to the managing Director of Dangote Group, Alhaji Tujudeen, and the club’s secretary, Barr Soalabo West.
NSE Begins Week On Negative Note, Loses N19.49bn
The Nigerian stock market began the week on a negative note as banking and consumer goods stocks, among others, triggered a N19.49bn loss.
At the end of trading on the floor of the Nigerian Exchange Limited , the NGX All-Share Index dropped by 0.09 per cent to end at 43,270.94 basis points, while the market capitalisation declined to N22.58tn.
Market activities were mixed as the total volume of shares traded decreased by 30.19 per cent while the value traded rose by 34.05 per cent.
A total of 213.13 million shares valued at N2.36bn were exchanged in 4,105 deals, compared to 305.32 million shares worth N3.58bn in 4,450 deals last Friday.
FCMB Group Plc topped the traded stocks in terms of volume, accounting for 27.43 per cent of the total volume of trades while Airtel Africa Plc emerged as the most traded stock by value, representing 28.81 per cent of the total value of trades on the exchange.
14 firms gained compared to 21 losers.
AIICO Insurance Plc was the biggest gainer for the day, topping the gainers’ chart with a price appreciation of 8.57 per cent to N0.76 per share.
It was followed by LivingTrust Mortgage Bank Plc with a rise of 7.95 per cent, ending the day at N0.95 per share.
Analysing by sectors, three of the five major indices closed lower, led by NGX Oil & Gas (-0.56 per cent), NGX Consumer Goods (-0.23 per cent) and NGX Banking (0.18 per cent).
But the insurance (0.82 per cent) and industrial goods (0.002 per cent) indices gained at the end of trading.
… Introduces TIES To Boost Business Loan
The Central Bank of Nigeria (CBN) has introduced the Tertiary Institutions Entrepreneurship Scheme (TIES), which provides undergraduates and graduates with a platform to access loans.
The TIES’ underlying aim is to provide access to capital for Nigerian undergraduates and graduates with innovative entrepreneurial and technological ideas from polytechnics and universities.
TIES intends to shift undergraduates and graduates away from white-collar job pursuits and towards a culture of entrepreneurship development for economic development and job creation.
In a national biennial entrepreneurship competition, the Developmental Component would be distributed in the form of awards to Nigerian polytechnics and universities.
The competition aims to increase undergraduates’ awareness and visibility of high-impact entrepreneurial/technological concepts, foster entrepreneurial talent hunts in Nigerian polytechnics and universities, and encourage commercially viable and transformative technologies.
Interested Nigerian polytechnics and universities shall apply to participate in the national biennial entrepreneurship competition on a dedicated online portal.
Outlining brief details of the project, potential impact and evidence of originality of project, CBN said it is an innovation for students entrepreneurs.
CITN Applauds FG, Tax Authorities On Fiscal Policy Decisions
The Chartered Institute of Taxation of Nigeria (CITN) has lauded the Federal Government and tax authorities on the giant strides made on fiscal policy decisions and tax administration measures initiated this year in the area of Finance Act 2021 and the introduction of TaxPromax solution.
President of the institute, Adesina Adedayo, who gave the commendation at the institute’s yearly award ceremony at the weekend in Lagos, assured the government and tax authorities of aligning with the measures and promised to provide professional thoughts and insights on ways through which they could achieve an efficient and effective Nigerian tax system.
Adedayo emphasised the need to address the database, adding that without knowing who the tax-payers are, there is no way they can take money from unknown tax-payers.
Database is the aspect we have been emphasising on as an institute and in doing this, there are so many of pockets of data we have. All the data must be harmonised to have a simple unique tax-payers identification number,” he said.
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