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NSE: Listing More Companies Restores Investors’ Confidence

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Following the listing of some new companies on the floor of the Nigerian Stock Exchange (NSE), market operators are of the view that listing of more companies at a bearish period would deepen activities at the market and restore investors’ confidence.

This development, according to them, would lead to investors having variety of choices of equities to diversify their portfolios.

Speaking on the heels of recent listing of some companies on the exchange and the proposed listing of many others, Mr Funmi Abiodun, a broker with Supra Investment Limited, said the development was a good omen for the market.

He added that having many stocks coming to list especially at a bearish period like this would improve investor’s confidence in the market.

Mr Adelaja Emmanuel, a broker with Cordros Capital Limited, noted that “an increase in listed companies would reduce the concentration risk in the nation’s capital”, observing that it would lead to improvement in the variety and depth of securities traded in the market.

He noted that the fear of their shares value being eroded had made most qualified companies to shy away from listing their shares.

Adeija further noted that with confidence gradually returning to the market and with the recent auditing of the banking sector there is hope for an improvement in the market.

He pointed out that the problem with the market is liquidity and he foresees the market going back to the bullish before the end of the first quarter of 2010.

A market analyst said that more listing of companies is a good development to the market. He urge the companies that are ready to list to do so, saying that this would boost the market confidence level, advising them not to wait till the market recovers.

He urged entrepreneurs to always look towards the listing of their companies as such would boost confidence in them and sustain their business.

The NSE of recent listed Honeywell Plc, Beco Petroleum Products Plc, Guaranty Trust Assurance Plc and Aso Savings and Loans Plc, which increased the equities to 214 and with some new applications already approved.

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‘Competing With Asisat Oshoala For Award, Great Honour’

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Team Lagos Taekwondo Poomsae gold medallist at the Edo 2020 National Sports Festival, Aminat Idrees, said she felt honoured to be competing with Super Falcons captain, Asisat Oshoala, for the Most outstanding young person in sports award.
Idrees turned poster girl of the festival after pictures and videos showing her competing with pregnancy and winning gold in the taekwondo event went viral online.
Tidesports source reports that the organisers of the Lagos Youth Awards unveiled the nominations list for the debut edition of the event with Idrees making the nomintion.
In a chat with newsmen, Idrees said being nominated alongside the Barcelona Femini forward is an honour but also expressed the desire to beat the Falcons captain to the award.
“It is an honour to be nominated for a state award, especially being placed alongside Barcelona footballer Asisat Oshoala,” she said.
“I hope for the best.”
When asked if she stands a chance of beating Oshoala, she said, “There’s nothing impossible with God.”
Other nominees in the most outstanding young person in sports categories are Anuoluwapo Opeyori (Olympian, Badmington) and Seun Nariwo (Former Table Tennis champ, Sports Administrator).
Nigerian skit maker and activist, Debo Adedayo, popularly known as Mr Macaroni tops the list with three nominations while football star and Oshoala have two nominations.
According to the organisers, the event will come up on Boxing Day, December 26 at Sheraton Hotel, Lagos.

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NHRC Receives Over 400 Sexual, Gender-Based Violence Reports In 11 Months

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The Bauchi State office of the National Human Rights Commission (NHRC) has revealed that it received no fewer than 814 human rights complaints between January and November this year, out of which over 400 were on sexual and gender based violence.
The State Coordinator of the Commission, Barrister Dala Yachit, made the revelation at a one-day public lecture on “ICT as an instrument for enhancing national security and economic recovery”.
The lecture, organised by Youth and Civil Society Coalition for Development (YCSCD) in collaboration with the National Information Technology Agency, was held on Monday at for North-East states.
Responding to a comment made by the representative of the Bauchi State Commissioner of Police, Yachit said that crimes had to be fought within the ambits of the law, noting that the Police Act and the Administration of Criminal Justice Act (ACJA), 2015 were there to guide the police in the discharge of their work.
“In fighting crime, you must do that within the law. The (National) Human Rights Commission is not stopping the police from carrying out her lawful activities but you must do it in line with the law, what the Police Act says you can do and what you can’t do and what the Administration of Criminal Justice Act says.
“Even arrests, how do you arrest? You must tell a person why you are arresting him. You don’t handcuff, you don’t subject the person to inhuman treatment. Arrest someone in line with the law and treat him with dignity,” Yachit, who was the chairperson on the occasion, said.
The NHRC State Coordinator asserted that the police does not have to forcefully elicit information from a suspect, submitting that, “that information you want, if the law says don’t forcefully check someone’s phone and you do that, I can assure you, when you go to court, that evidence will be thrown out of the court because you did not access that document through the legal means.”
She informed that through the commission’s cordial working relationship, awareness and sensitisation, complaints against police personnel in the state had gradually reduced.
“For example, when we came in 2019, most people did not know much about human rights in Bauchi, we started in February and by the end of that year, we had just 72 complaints and out of those 72 complaints, over 50 were against police officers.
“Last year, it was the same thing, but because of the sensitisation and awareness to the people, as of Thursday last week, we had 814 human rights complaints, just in Bauchi and out of this, over 400 were on sexual and gender based violence.
“So, you can see the reduction of complaints against police officers and it is because of our working relationship and the awareness and sensitisation,” she said.
Yachit declared that every aspect of human life had to do with human rights, adding that ICT plays a vital role in human rights as it could not be removed from human rights.
She said “ICT opens doors and creates avenues for a lot of information. It is through ICT that we get to know what is going on regarding human rights.
“You can beam the searchlight on human rights abuses, you can get in touch with victims of human rights abuses. So, you can’t remove ICT from human rights.”
Speaking earlier, the National President of the group, Aminu Aminu in

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Ondo Speaker Arraigned Over Fraud Allegations

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The Speaker of the Ondo State House of Assembly, Bamidele Oleyelogun, was yesterday arraigned over allegations of fraud.
Oleyelogun, who appeared at the High Court sitting at the Olokuta Correctional Centre, Akure, the state capital, was arraigned by the Economic and Financial Crimes Commission, EFCC.
Meanwhile, the trial was stalled following the absence of counsels to the anti-graft agency.
In March 2021, the EFCC had detained the Speaker over petitions regarding his involvement in an alleged N2.4 million seminar fraud that rocked the assembly.
Also invited and detained alongside the Speaker by the EFCC were the lawmaker representing Akoko South West I in the House, Felemu Bankole; the former Clerk of the Assembly, Mr. Bode Adeyelu; and three other staff.
Speaking with newsmen on phone, counsel to EFCC, Dibang Frederick, disclosed that another date of adjournment had been picked for the arraignment of Oleyelogun in order for the legal team to be fully prepared.
According to Dibang, charges against the Speaker will be made available during the next adjournment date.
Meanwhile, officials of the Olokuta Correctional Centre barred journalists from entering the court premises.

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