Business
Avoid Borrowing From Banks, Investors Urge
Investors in the Nigerian Stock Exchange (NSE) have been urged to avoid borrowing from the banks to invest in the capital market.
Mr Afolabi Adefiranye, General Manager, Professional Stockbrokers Ltd, told the newsmen on Friday in Lagos that it was always safer for portfolio investors to invest out their income.
Adefiranye reiterated that some of the investors that were adversely affected during the global economic meltdown were those who borrowed money from banks and other sources.
He said that with the take off of the Asset Management Corporation of Nigeria (AMCON), the capital market was set for a full recovery.
According to Adefiranye, there is every indication that the capital market will do better by the end of the first quarter of 2011 because some stocks have risen in price value.
“As the capital market is picking up gradually, there is the need for investors to be careful where they get money to invest to avoid biting their fingers the second time,” he said.
He said that there was nothing wrong with investors off-loading their shares when the shares had risen in price value because the purpose of investing was to make profit.
Our correspondent reports that a good percentage of investors, who borrowed money from banks to invest in the capital market, lost several billions of naira when the stock market crashed due to global financial crisis.
The Interim Administrator of the NSE, Mr Emmanuel Ikazoboh, had also attributed the lull in the market to what he called, “huge margin loan overhang”.
According to Ikazoboh, huge margin loan overhang has forced banks to withhold funding of equities to recoup the previous loans they invested in the capital market.
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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