Day: November 1, 2023

The Nigerian Exchange Group’s profit after tax in the third quarter of 2023 increased to N1.22 billion.

The profit represented a 606.2 increment compared to the N172.7 million recorded in the same period of 2022.

Managing Director/Chief Executive Officer of NGX Group, Oscar Onyema, disclosed this recently while commenting on the company’s performance.

According to the unaudited report, the group’s revenue increased by 19.6 per cent to N5.95 billion in the period under review from N4.97 billion as of September 2022, driven by a decrease of 5.9 per cent in treasury investment income, which constituted 24.2 per cent of the revenue, resulting in N1.42 billion.

Onyema attributed the revenue growth to the prevailing positive sentiment within the Nigerian capital market ecosystem following the emergence of a new administration.

He said, “Amid the diverse economic challenges and opportunities that characterised the year, NGX Group has demonstrated remarkable resilience by achieving a seven-fold increase in profit after tax, reaching an impressive N1.2 billion. This outstanding performance is a testament to our unwavering commitment to bolstering the growth and stability of the Nigerian capital market. It also reflects the positive sentiment prevailing within the ecosystem in light of the pro-market stance of the new administration”.

NGX profit after-tax increases to N1.22bn in Q3 2023

An Upper Area Court in Kubwa, Abuja, on Wednesday, dissolved a six-year-old marriage between Hafsat Jimoh and her husband, Abubakar Momoh.

The Judge, Mohammed Wakili, dissolved the marriage according to Islamic Law, following Jimoh’s prayer for divorce on grounds of lack of love and care.

Wakili, however, ordered Jimoh to observe “Iddah” (waiting period) of three months according to Islamic injunction, before contracting another marriage.

Earlier, the respondent told the court that the petitioner refused to unblock his cell phone to reach her, as instructed by the court. ”I heard she took the children to Kaduna and seeing them today I am not happy, one of them is ill and I usually send money to her for their upkeep.

”She did not give me the privilege to settle, I have consented to her divorce but she should hand over my children to me and go. She prevented me from seeing them for two months,” Momoh said.

Responding, the petitioner said she could not deny the respondent of his children adding that he was free to see them anytime he wanted and speak to them over the phone.

The News Agency of Nigeria (NAN) reports that the petitioner had told the court she got married to the respondent under Islamic law in October 2016.

The mother of two said the marriage suffered marital issues for at least six years adding that she was tired and no longer interested.

”My spirit is no longer in this union. I have tried my best but cannot do it anymore, I do not want to die of depression, I want the court to dissolve the marriage,” she said.

The respondent, however, said he wanted the court to engage his and his wife’s family for mediation.

“She left my house after I travelled and does not live in our matrimonial home anymore,” he said.

The plaintiff in response said they had both tried engaging both parents in the past and nothing had changed. (NAN)

Court dissolves housewife’s 6-year ‘loveless’ marriage

Former Arsenal Defender, Bacary Sagna has defended the club’s captain Martin Odegaard after he was criticized for his recent display for the Gunners.

Sagna also believes the Norway international will overcome his underwhelming start to have a ‘huge impact this season’.

Odegaard was one of Arsenal’s best players in the Premier League last season as he netted 15 goals and registered eight assists for Mikel Arteta.

However, he was recently criticized by former Arsenal star Emmanuel Petit over his display.

Petit had described Odegaard’s performance in Arsenal’s 2-2 draw against Chelsea as ‘his worst in an Arsenal shirt’.

But Sagna believes it is normal that the former Real Madrid star is not playing his best football at the moment.

“This is the problem with football. Players will always be criticised and people will always have opinions [on players],” Sagna told Genting Casino.

“It is human nature to question why a player that has performed so brilliantly is not doing so well at any given moment, but if you looked at Odegaard’s last 100 games for Arsenal, you could say that in 95 of them, he has been amazing.

“It is possible for a player to have a few bad games. At the moment, Odegaard isn’t playing his best football, but that is normal.

“Look at what he has done throughout his time wearing the shirt. It is crazy to be critical of Odegaard without considering his body of work when playing for Arsenal.”

EPL: Not playing best football normal – Sagna defends Arsenal midfielder, Odegaard

Ex-militant leader and Amanyanabo of Okochiri Kingdom, Ateke Tom, has warned against inputting ethnic colouration in the dispute between the Rivers State Governor, Siminalayi Fubara and his predecessor, Chief Nyesom Wike.

Ateke Tom appealed to all stakeholders to apply caution in their reactions, insisting that the face-off was between a father and his political godson.

He called on Rivers’ elders and royal fathers to urgently unite and mediate between the warring factions to prevent further escalation of the issues.

The monarch in a statement issued to DAILY POST in Port Harcourt, on Wednesday, insisted that no one should twist the issues and try to make political gains out of the development.

He said: “I strongly urge for peace and reconciliation in the light of the strained relationship between these two leaders.

It is essential that we do not give an ethnic dimension to this issue. This dispute should not be exploited for political gain”.

He recalled that Wike, who is the Minister of the Federal Capital Territory (FCT) and hails from the Ikwerre ethnic nationality, was instrumental in making Fubara from the riverine area of the state a governor.

He condemned the ongoing plot to destabilise the state by reading ethnic motives into the crisis, adding that the impasse would not benefit anybody.

While faulting the move to impeach Fubara after less than six months in office, Ateke Tom said such development was not in the interest of the state.

He said: “I have observed with deep concern the ongoing situation in Rivers State. Our beloved Rivers State is currently facing a challenging situation between Governor Siminalayi Fubara and his predecessor, Nysemo Wike, the Minister of the Federal Capital Territory, Abuja.

“The current crisis must be resolved swiftly for the benefit of our state and its people. We should continue the path of development and peace established by the previous administration, which the current government is also following.

“I condemn the attempted impeachment of Governor Siminalayi Fubara within only six months of his administration. This is not in the best interest of our state.

“I call on law enforcement agencies to remain loyal to the people and not be swayed by political actors. The use of water cannons and teargas on the Rivers State Governor is unacceptable.

“I hope for a return to normalcy in our government and legislative processes, which will benefit our citizens and business community.

“I appeal to all the people of Rivers State, including political actors, Royal fathers, and the youth, to come together and prioritize peace, unity, and dialogue.

”Our state’s future depends on our collective efforts”.

Rivers Crisis: Ateke Tom warns against ethnic sentiments in dispute between Wike, Fubara

Nigeria Senate is currently screening nominees by President Bola Ahmed Tinubu to serve as Resident Electoral Commissioners, RECs.

The nominees who are ten in number are being screened by the upper legislative Chamber and if confirmed would be deployed to the various States to carry out their primary duties.

Senate Leader, Michael Bamidele Opeyemi after reading the list of nominees, drew the attention of the Chambers to the provision of Section 154 (1) of the Federal Republic of Nigeria, 1999 as amended.

Opeyemi said: “Confirmation of the Nomination of the following persons for appointment as Resident Electoral Commissioners, RECs. That the Senate do consider the request of Mr. President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria on the confirmation of the nomination of the following persons for appointment.”

The nominees undergoing screening who have already made themselves available on Wednesday are:
Mr Etekamba Umoren – Akwa Ibom
Mr Isah Shaka Ehimeakne  – Edo
Barr. Mrs Oluwatoyin Babalola – Ekiti
Mr Abubakar Ahmed Ma’ali –  Gombe
Mr. Shehu Wahab – Kwara
Mr Dr. Bunmi Omoseyindem – Lagos
Mr Aminu Kasimi Idris – Nasarawa
Mohammed Abubakar Sadiq – Niger
Dr. Anugbum Onuoha – Rivers
Mr Abubakar Fawa Dambo – Zamfara

After screening, they are expected to be confirmed by the Committee of the whole.

Senate screens Tinubu’s electoral commissioner nominees