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Stock Market Rebounds, Capitalisation Increases By N180bn

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The market capitalisation of the Nigerian Exchange (NGX) closed trading yesterday with a gain of N180 billion to close at N27.544 trillion against N27.364 trillion posted on Wednesday, halting five days of consecutive losses.
Similarly, the All-Share Index (ASI) increased by 335.01 points or 0.66 per cent to close at 51,091.75 against 50, 756.74 recorded on Wednesday.
Consequently, the Year To Date (YTD) rose to 29.61 per cent.
The uptrend was impacted by gains recorded in large capitalised stocks, amongst which are: Dangote Cement, NAHCO, Oando and Union Bank of Nigeria (UBN).
The market breadth was negative as 14 stocks advanced and 22 stocks declined.
Transcorp dominated the gainers’ table in percentage terms, gaining of 10 per cent, to close at N1.32, per share.
MRS followed with 9.80per cent to close at N16.25, while Dangote Cement rose by 8.30 per cent to close at N270, per share.
NAHCO garnered 7.69 per cent to close at N8.40, while Royal Exchange Assurance appreciated by 5.56 per cent to close at 95k per share.
On the other hand, LearnAfrica and Bua Foods led the losers’ chart in percentage terms, dropping 10 per cent each, to close at N2.25, and N49.50, per share respectively.
Japaul Gold followed with a decline of 9.68 per cent to close at 28k, while Glaxosmith lost 9.22 per cent to close at 6.40, per share.
NASCO lost 8.56 per cent to close at N11.75, per share.
However, the total volume traded rose by 14 per cent as investors bought and sold 166.97 million shares, worth N3.41 billion traded in 4,398 deals.
This was against a turnover of 345 million shares valued at N3.07 billion traded in 5,075 deals on Monday.
Transactions in the shares of  Transcorp topped the activity chart with 19.34 million shares worth N24.39 billion.
United Bank for Africa (UBA) followed with 15.59 million shares valued at N131.21 million, while Guaranty Trust Holding Company (GTCO) traded 17.29 million shares worth N365.18 million.
Zenith Bank sold 12.81 million shares valued at N281.89 million, while First Bank of Nigeria Holdings (FBNH) transacted 11.34 million shares worth N95.43 million.

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Wike Hails Rivers United For Winning 2021/2022 NPFL

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Rivers State Governor, Chief Nyesom Wike, has congratulated the Rivers United Football Club for emerging the winner of the 2021/22 Nigeria Professional Football League (NPFL).
Rivers United was officially confirmed the champions of the 2021/2022 NPFL season following Plateau United 1-2 away loss to Akwa United, last Saturday.
The governor commended the players and coaching staff of the state-owned football club, yesterday, following the memorable victory, which ended their 5-year NPFL title wait.
Wike, who attributed the achievement of Rivers United to the talented team’s determination, said it was most heartening that by virtue of the league win, the club would represent the country at the Confederation of African Football (CAF) Champions League next season.
He further added that Rivers United’s triumph at the 2021/2022 NPFL has brought a wave of joy and happiness for the people of Rivers State and the country at large.
“I wish to express my heartfelt appreciation to the coaching staff and particularly the capable players of Rivers United for the valuable efforts they made to emerge the winners of the 2021/2022 NPFL.
“The Government and good people of Rivers State are very proud of the team’s exploits following their dogged performances and resilient display throughout the 2021/2022 season. It is worthy to note that over the years, Rivers United has brought so much joy and happiness to football fans and supporters all over the country. This victory, no doubt, marks a major milestone in Rivers State football’s history.”

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Registration For CBN, AFF eNaira Hackathon Opens, Today

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Registration for the eNaira hackathon, geared towards ideating innovative solutions for the newly launched digital currency, organised by the Africa Fintech Foundry (an innovative hub established to identify and accelerate innovative startups in Africa), in partnership with the Central Bank of Nigeria (CBN), is billed to open on June 27, 2022 and run till July 21, 2022.
A statement issued by the organisers said the main event, which is billed to kick-off from August 4, 2022, is part of efforts to drive financial inclusion, facilitate macroeconomic growth and integrate Nigerian economy to the world leading economies through innovation and cutting edge emerging technologies.
It, therefore, urged interested participants to visit the eNaira Hackathon @www.affcbn.com
With the theme “eNaira – Africa’s Gateway to a Digital Economy,” the hybrid hackathon will bring together teams of talented entrepreneurs, developers, designers, solution developers, problem-solvers, out-of-the-box thinkers, and code magicians from Africa to develop innovative solutions that will drive improved adoption of the eNaira.
Speaking on innovation in Nigeria’s payments system ecosystem, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, recently said: “We cannot deny the fact that the newly introduced CBDC (eNaira) would be necessary in the future to ensure Nigeria is competitive as the world becomes increasingly digital.
“We have seen in the past few years how digital currencies have opened international economies to individuals who wield them and how seamless they have made trading, buying, investing and other economic activities.
“We desire to achieve this and more with the eNaira with the underlying goal to boost Nigeria’s economic outlook.
“Innovators at the hackathon will develop solutions in the areas of international remittance, trans-border payment, blockchain, financial inclusion, and trade (AfCTFA).”
The statement issued by the organisers said, the hackathon will address the strategic points to eliminate possible glitches that could hamper smooth transactions being carried out with the eNaira.

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NECO Begins SSCE,Today

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The National Examination Council (NECO) has debunked the alleged postponement of its 2022 Senior School Certificate Examination (SSCE) for school-based candidates in the country.
The examination body said the 2022 SSCE would commence on Monday, June 27, and end on August 12, 2022.
NECO made this known in a statement made available to newsmen, last Saturday, by its spokesperson, Azeez Sani, in Minna, Niger State.
The statement read: “The 2022 Senior School Certificate Examination (SSCE) for school-based candidates conducted by the National Examinations Council (NECO) will commence on Monday, 27th June, 2022.
“State Ministries of Education, Principals, Commandants and all stakeholders are enjoined to disregard any speculation on the alleged postponement of the examination.
“The council has put all necessary measures in place to ensure a seamless conduct of the 2022 Senior School Certificate Examination.
“The 2022 NECO Senior School Certificate Examination will end on Friday, August12, 2022.
“Candidates are to be examined in 76 subjects during the examination.”

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