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Capital Market Volatility To Persist – Operators

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Some capital market op
erators have  said that the equity price volatility in the nation’s capital market would persist until first quarter of 2015.
They told newsmen in separate interviews in Lagos recently that the market would stabilise after the general elections.
A former President, Chartered Institute of Bankers (CIBN), Mazi Okechukwu Unegbu said that the capital market would continue to nosedive because of cash dependent policies introduced by regulators.
Unegbu said that unfriendly government economic policies such as devaluation of the naira, brokers and Bureau De Change capitalisation affected market growth and development.
He said that cash induced policies of the government led to loss of jobs, stressing that the nation’s unemployment rate would increase at the completion of capital market operators recapitalization.
“The capital market will continue to nosedive with cash dependent policies introduced by the government,” Unegbu said.
Unegbu said that scarcity of funds in the economy due to the 2015 general elections contributed to the development in the capital market.
He also urged discerning investors to take advantage of low prices of equities at the nation’s bourse to increase their stake in the market.
“This is the best time to buy for people that have excess funds but investors must not borrow to invest in the market,” he said.
President, Institute of Capital Market Registrars (ICMR), Mr Bayo Olugbemi, said the nation’s bourse would not experience stability without increased participation of local investors.
Olugbemi said that increased participation of local investors was crucial to market growth and sustainable development, considering present realities in the country.
He said that the market should map out strategies to increase the participation of local investors to cushion the effect of foreign portfolio investors that were pulling out of the market.
Olugbemi said that many portfolio investors were bailing out from the Nigerian capital market because of naira devaluation, persistent fall in oil price, political instability and security challenges.
“There is always a problem anytime portfolio investors bail out in the market,” Olugbemi said.
The ICMR president said that most stocks were selling below fair value because of the development.
He said that the capital market would not be vibrating as expected because of political and economic uncertainties.
Olugbemi, however, expressed optimism that the market would bounce back because due to low price of equities.
Meanwhile, the All-Share index last week rose by 4122.41 points or 13.60 per cent to close at 34,428.82 due to price gains by some blue chip equities.
Also, the market capitalisation appreciated by N1.39 trillion or 13.60 per cent to close at N11.402 trillion.
United Bank for Africa led the gainers’ table in percentage terms, appreciating by 32.28 per cent or N1.22 to close at N5 per share.
Transcorp grew by 28.90 per cent or 89k to close at N3.97, while Oando Plc gained 26.79 per cent or N4.22 to close at N19.97 per share.
On the other hand, Ashaka Cement topped the losers’ chart dipping by 9.96 per cent or N2.45 to close at N22.15 per share.
International Breweries came second with a loss of 6.81 per cent or N1.77 to close at N24.23, while Caverton Offshore Support declined by 5.36 per cent or 17k to close at N3 per share.
Reports say that 1.86 billion shares worth N12.76 billion were traded by investors in 13,469 deals last week.
This was against 5.41 billion shares valued at N46.47 billion transacted in 22,986 deals in the preceding week.

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Kenyan Runners Dominate Berlin Marathons

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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