Daybreak, Politics, Entertainment, Sport

Author: Alpha Maidawa

Investors lost N1.87trn to COVID-19
The Nigeria bourse has lost N1.87 trillion to global oil price crash and increasing spread of COVID-19 in four days.
Specifically, the market capitalisation, which opened trading for the week at N13.694 trillion, shed N1.87 trillion or 13.63 per cent, having closed trading on Thursday at N11.827 trillion.
Also, the All-Share Index, which opened the week at 26, 279.61, dropped 3,583.73 points or 13.64 per cent in four days to close trading on Thursday at 22,695.88.
Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., attributed the development to crash in crude oil price leading to review of 2020 budget.
Kurfi added that increasing spread of COVID-19 was another source of worry to investors with the World Health Organisation describing the viral disease as pandemic.
“The market crash was as a result of the fear of devaluation by foreign investors who are willing to sale at whatever price.
“Being major players in the market, we need to manage it,” Kurfi said.
He stressed the need to review some market policies, noting that margin loan was important at the very moment to minimise loss.
An analysis of trading on Thursday shows that MTN Nigeria recorded the highest loss to lead the losers’ chart, declining by N10.30 to close at N93.20 per share.
Okomu Oil trailed with a loss of N6.10 to close at N55.30, while Presco was down by N4.45 to close at N40.45 per share.
Nigerian Breweries dipped N3.30 to close at N29.70, while Flour Mill dropped N2.20 to close at N19.80 per share.
On the other hand, only three stocks posted price appreciation and this was led by Stanbic IBTC which garnered 95k to close at N29.30 per share.
Skyways Aviation Handling Company followed with 23k to close at N2.57, while Caverton gained 21k to close at N2.31 per share.
Zenith Bank was the toast of investors in activity chart, accounting for 433.157 million shares worth N4.70 billion.
United Bank for Africa followed with an account of 371.34 million shares valued at N2.09 billion, while Guaranty Trust Bank traded 62.18 million shares worth N1.14 billion.
FBN Holdings exchanged 31.95 million shares valued at N128.21 million, while Wapic Insurance sold 20.64 million shares worth N5.79 million.
In all, investors traded 1.06 billion shares valued at N9.81 billion in 5,501 deals.
This was against a turnover of 1.39 billion shares worth N17.65 billion transacted in 7,150 deals on Wednesday. (NAN)
March 13, 2020
Foundation trains 400 traders on digital marketing in Kaduna
An organisation, Bintalya First Foundation, on Thursday in Kaduna graduated 400 market men and women it trained on digital marketing.
Beneficiaries of the training were drawn from various market unions in Kaduna central market.
The founder and Chief Executive Officer of the foundation, Hajiya Binta Hamidu-Haruna, said that gesture was to enable the traders key into digital marketing to boost their businesses.
“We rendered this training to the market community in central market for them to be advanced in using technology, having observed that they have been left behind in present days of digital marketing.
“Our market people in central market here in Kaduna are still practicing the old ways of marketing, we needed to teach and train them on the new methods of buying and selling their good online to reduce costs and losses.”
Hamidu-Haruna also said that the foundation was poised to use technology in changing business processes, to achieve measurable improvements, efficiency and effectiveness.
“We also sponsor and train marketers and business owners on social media marketing skills to improve their business outreach and equip children with ICT knowledge from the very young age”, she said.
In his remarks, the Chairman of Kaduna central market union, Alhaji Ibrahim Shehu-Daudawa, thanked the foundation for the training, which was meant to boost their businesses and contribute more significantly to the economic development of Kaduna State and the nation at large.
He urged the beneficiaries to effectively make use of the knowledge they acquired in running their businesses.
One of those trained, Hafsat Sani, said she had learnt a lot and would apply the knowledge to minimize the cost of running her business.
“I can now make online purchases from genuine platforms without necessarily wasting a lot of money on transportation and accommodation, the goods would be brought to my shop with ease and at less cost,” she said.
Another beneficiary, Ikenna Samuel, said that the training would help him maintain good customer relation and advertise his business using the social media.
The CEO of the foundation was conferred with the traditional title of ‘Garkuwan Matan Kasuwa’ by the District Head of Doka, Alhaji Balarabe Sidi-Yero.(NAN)
March 13, 2020
Substandard Goods: Reps fault SON’s absence at points of entry
The House of Representatives Committee on Industry has said that the decision to exit the Standards Organisation of Nigeria (SON) from the nation’s ports would lead to the prevalence of fake and substandard goods in the country.
The House Committee Chairman on Industry, Dolapo Badru, said this during an oversight visit to SON laboratory on Thursday in Ogba, Lagos.
Badru said that the law mandating SON to be at the ports would be reviewed.
According to him, customs officials are to collect duty so, they don’t have the requisite skills to ascertain the quality of goods imported.
He expressed satisfaction with the level of work done by the standards body and restated the House commitment to return SON to the nation’s sea ports.
“We will make sure that we do everything within our powers to make sure that SON gets back to the borders, most especially the ports and the airports, because we are concerned with fake and substandard products, especially those products that take lives of innocent Nigerians.
“We have seen lots of buildings collapse these days and most of these collapse are caused by substandard building materials most of which are imported.
“We have also seen most buildings destroyed by fire because of imported substandard cables.
“You do not expect the customs officer to carry out testing and analysis of cables because he was not trained for that,” he said.
He stated that the House would invite the Director General of SON and the Ministry concerned to review the law that mandates SON to be at the ports.
“There is an existing law and I wonder why the law is not complied with. We are going to get to the root of this matter and call for a hearing.
“A lot of building collapse would have been averted, probably a lot of fire outbreaks would have been averted, a lot of deaths would have been averted.
“These things were imported and nobody checks these goods when they come in because the agency that supposed to check the quality of these goods have been evicted from the ports,” he said.
In his response, Director General of SON, Osita Aboloma, commended the House of Representatives for their support, stating that SON has the capacity to create possibilities.
According to him, the agency has invested so much in human capacity development to be at par with its counterparts all over the world.
“We appreciate your keen interest to sending us back to the ports while also creating the enabling environment for effective service delivery.
“If we are well positioned, we will do more; the task to rid Nigeria of substandard products is a responsibility for everybody.
“As members of the Committee on Industry, you are by extension standards ambassadors.
“We implore you to advocate our cause wherever possible because we need to be positioned to enable us carry out our mandate effectively and safeguard the lives of Nigerians through standards,” he said. (NAN)
March 13, 2020
Market unfavourable for Naira devaluation -CBN
The Central Bank of Nigeria (CBN) says market fundamentals do not support Naira devaluation this time around.
The CBN made this known in a statement by the bank’s Director, Corporate Communications, Mr Isaac Okorafor in Abuja on Friday.
Okorafor expressed dismay at speculative activities at the foreign exchange market from impressions that the CBN would devalue the Naira, thereby triggering panic in the Foreign Exchange Market.
He said these rumours were false, unwarranted and calculated to serve dubious and selfish ends.
“We therefore wish to state that we have begun a robust and coordinated investigation in collaboration with the Nigerian Financial Intelligence Unit (NFIU) and related agencies to uncover the unscrupulous persons and Foreign Exchange dealers who are creating this panic, and the full weight of our rules and regulations will be meted out to them.
“This including, but not limited to, being charged for economic sabotage.
“For nearly four years, the CBN has successfully maintained relative stability in all segments of the foreign exchange market, which has enabled investors, households and other economic agents to plan and to conduct their genuine foreign exchange transactions with relative ease.
“The introduction of several foreign exchange management measures side-by-side with complementary interventions in food production and manufacturing has drastically reduced food importation, which hitherto constituted a large chunk of the pressure on the foreign exchange market.
“Although the outbreak of the Coronavirus led to global economic slowdown, fall in the price of crude oil, and less inflow of dollars into Nigeria, the associated public health concerns have also led to factory closures in China, substantial drop in imports, widespread travel restrictions around the world, and cancellation of many conferences, sporting events, business travels, and foreign exchange orders.
“The size of Nigeria’s foreign exchange reserves remains robust and comfortable, given the current realities of Nigeria’s genuine and legitimate Foreign Exchange demand. As such, the CBN remains able and willing to meet all genuine demand for foreign exchange for legitimate transactions,” he explained.
The director noted that the CBN was also working with the fiscal authorities to properly and accurately dimension the immediate and expected impacts of the Coronavirus in order to respond comprehensively and at the same time, ensure a sound and stable financial system conducive for job creation and inclusive growth.
He said in light of current circumstances and macroeconomic fundamentals, the CBN has not devalued the Naira.
According to him, the CBN will invoke the full weight of applicable sanctions on any persons and authorised involved in such disruptive and speculative market behaviour. (NAN)
March 13, 2020
Stakeholders decry poor education, health budget performance in Kaduna
Stakeholders working to improve citizens engagement in budget formulation and implementation in Kaduna State have decried the poor capital budget performance in education and the health sectors.
The stakeholders made the observation at the end of a two-day Budget Trend Analysis of key service delivery sectors namely education, health and infrastructure between 2016 and 2020.
Participants at the meeting include Civil Society Organisations (CSOs), media, House of Assembly and some representatives of the state’s Ministries, Departments and Agencies.
The meeting was supported by the DFID-Funded Partnership to Engage, Reform and Learn (PERL) working to improve governance and citizens engagement in the state.
The budget trend analysis obtained by News Agency of Nigeria (NAN) in Kaduna on Friday, shows a poor performance of the education and health capital budget within the period.
The analysis shows that N27.98 billion was allocated for capital projects in 2016, but only N15.13 billion was spent, representing 54 per cent budget performance.
The allocation increased to N44.85 billion in 2017, of which only N6.13 billion was spent, representing 14 per cent performance.
In 2018, the allocation for capital project in the sector dropped to N31.71 billion and only N7.57 billion was spent, representing 24 per cent.
The story was no different in the health sector, where N6.66 billion was allocated in 2016 for capital projects but only N1.62 billion was spent.
In 2017, N10.49 billion was allocated but only N3.11 billion was spent, while in 2018, N17 billion was allocated but only N5.57 billion was spent.
However, the infrastructure sector witnessed an impressive performance when compared to the education and health sectors.
The analysis shows that the sector got N30.14 billion capital budget allocation in 2016 and spent N22.33 billion, representing 74.11 per cent performance.
The allocation increased to N29.39 billion in 2017 with actual spending of N13.08 billion, representing 44.50 per cent budget performance.
In 2018, the allocation slightly decreased to N27.79 billion, while the actual spending was N32.22 billion, representing 115.9 per cent, an impressive budget performance, 15 per cent higher than the actual allocation.
The stakeholders blamed the poor budget performance on unrealistic budget of the state government, accompanied by unmet projected revenue.
They also noted that while there was some level of citizens participation in governance under the Open Government Partnership platforms, citizens engagement in the budget processes was still low.
They agreed to mobilise citizens to effectively monitor and track the implementation of the 2020 budget and put structures in place for early engagement of the 2021 budget process.
Mr Yusuf Goje of the Coalition of Associations for Leadership, Peace, Empowerment and Development (CALPED), particularly noted the weak communication and engagement of the citizens by infrastructure agencies in the past four years.
Goje also acknowledged the weak civil society engagement in tracking infrastructure projects in the state and called for the establishment of accountability mechanism made up of government officials and civil society.
According to him, the move will ensure effective tracking and monitoring of budget releases and implementation of infrastructure for accountability.
“The government should also intensify its public relations engagement by providing details of projects for citizens to take ownership.”
Similarly, Dr Elisha Menson, of the Department of Economics, Kaduna State University (KASU), described budget as a “vital instrument of governance”.
Menson stressed the need for the government to increase the level of citizens engagement in the budget process.
Also, Mr Bako Usman, President, Campaign for Democracy (CD), said that citizens engagement should start at the grassroots.
Mr Abel Adejor, PERL Lead in the state, explained that the meeting was organised to analysed key service delivery sectors and implementation performance.
Adejor added that the meeting was also organised to review citizens engagement in the 2020 budget and plan for effective engagement of the 2021 budget process. (NAN)
March 13, 2020
Men’s tennis, NBA, La Liga affected as coronavirus shreds sports calendar
The global sports calendar has been shredded by the coronavirus pandemic, with men’s tennis shut down for six weeks and top European football leagues on hold.
The National Basketball Association (NBA) in the U.S. has also announced a suspension until further notice.
Poignantly, the Olympic flame was lit in ancient Olympia but the road to the Tokyo Olympics appears, at present, a distant one with the spread of the virus impacting across all sports.
Men’s tennis ATP Tour announced that no tournaments would take place until after April 20 at the earliest.
This announcement wipes off the calendar the prestigious Miami Open and Monte Carlo Opens, as well as tournaments in Houston and Marrakech.
“This is not a decision that was taken lightly and it represents a great loss for our tournaments, players, and fans worldwide,” the ATP’s chairman Andrea Gaudenzi said.
“However, we believe this is the responsible action needed at this time in order to protect the health and safety of our players, staff, the wider tennis community and general public health in the face of this global pandemic.”
Earlier this week the Indian Wells tournament was cancelled, while the International Tennis Federation (ITF) postponed the revamped Fed Cup Finals set for Budapest in April.
The NBA took the decision on Wednesday to suspend the season until further notice after a Utah Jazz player tested positive for the coronavirus.
“The NBA will use this hiatus to determine next steps for moving forward in regard to the coronavirus pandemic,” a statement said.
While chaos escalated elsewhere, Formula One was apparently carrying on regardless with the Australian Grand Prix likely to go ahead.
This is in spite of the McLaren team withdrawing after a team member tested positive for coronavirus.
Mercedes’ six times world champion Lewis Hamilton told reporters earlier that it was “shocking” the race could go ahead and suggested organisers had put financial concerns ahead of people’s health.
Also, Spain and the Netherlands became the latest nations to suspend all football leagues.
The next two rounds of La Liga fixtures were postponed.
Real Madrid put its squad into quarantine after a member of the club’s basketball team tested positive on Thursday.
“Given the circumstances that are coming to light this morning, referring to the quarantine established in Real Madrid and the possible cases in players from other clubs, La Liga considers it appropriate to continue to the next phase of the protocol of action against COVID-19,” La Liga said.
Italy’s Serie A has already stopped until at least April 3 with the country in lockdown after 12,000 infections and 800 deaths.
Two Serie A players, Sampdoria’s Manolo Gabbiadini and Daniele Rugani of Juventus, have tested positive.
England’s Premier League was waiting to discover whether or not it would continue, or have matches played behind closed doors.
The government is expected to move its response to the coronavirus crisis from the “contain” phase to the “delay” phase at an emergency “Cobra” committee meeting.
With many other European leagues either suspended or playing without fans in stadiums, the fate of this year’s Euro 2020 championship being played across 12 cities remains unclear.
Governing body UEFA said it would hold a meeting of all 55 football federations in Europe to discuss the impact of the coronavirus on all domestic and European competitions.
Two of Thursday’s Europa League matches have been postponed, while it looks highly unlikely that next week’s Champions League clash between Manchester City and Real Madrid will be played.
Major League Soccer (MLS) in the U.S. also announced that the season was suspended until further notice.
Some events were continuing though, with the first round underway at golf’s Players Championship at Sawgrass.(Reuters/NAN)
March 13, 2020
Manchester City vs Real Madrid, Juventus vs Lyon postponed due to coronavirus
Manchester City’s 2019/2020 UEFA Champions League last 16 second leg tie with Real Madrid next week has been postponed due to the coronavirus outbreak.
European football’s governing body UEFA, while disclosing this on Thursday, also said the Juventus’ match against Olympique Lyonnais in the same competition and also billed for next week was also affected.
Real Madrid had said earlier on Thursday that it had sent all of the members of its football and basketball teams home into quarantine.
It had said this became necessary after one of the sports club’s basketball players tested positive for the coronavirus.
Also, Juventus defender Daniele Rugani tested positive for coronavirus on Wednesday, leading the Italian club to quarantine their entire squad.
“Following the quarantine imposed on players of Juventus and Real Madrid, the… matches will not take place as scheduled,” UEFA said on Twitter.
Both matches were due to take place on Tuesday.
Manchester City have a 2-1 lead from the first leg in Madrid on Feb. 26 while Juventus trail Lyon 1-0.(Reuters/NAN)
March 13, 2020
UEFA summons clubs, FAs, players to discuss coronavirus impact
European football governing body UEFA will hold a video conference meeting of all 55 football federations in Europe, it said on Thursday.
The meeting which will involve representatives of clubs, leagues and players is to discuss the impact of the coronavirus on all football in the region, including Euro 2020.
UEFA has so far declined to discuss whether Euro 2020, which will be held in 12 different countries around Europe between June 12 and July 12, will be postponed or venues altered.
UEFA said the meeting would be held next Tuesday and that “discussions will include all domestic and European competitions, including UEFA EURO 2020”.
“Further communication will be made following those meetings,” it said.
On Thursday, Real Madrid and Juventus, two of Europe’s biggest clubs who are scheduled to play Champions League matches next week, sent all of their footballers into quarantine.
Real Madrid’s move came after one of the club’s basketball players tested positive for the coronavirus, while Juventus defender Daniele Rugani also tested positive for the virus.
Real Madrid’s basketball team was also sent into quarantine.
Domestic leagues around the continent have been put on hold or are taking place behind closed doors.
Two Europa League matches scheduled for Thursday have been postponed because Spanish side Getafe refused to travel to Italy, the epicentre of the outbreak, to face Inter Milan.
AS Roma said they could not travel to Spain to face Sevilla because of flight restrictions.(Reuters/NAN)
March 13, 2020
FIFA postpones South American World Cup qualifiers over coronavirus
World football governing body FIFA has postponed South American qualifying matches for the 2022 Qatar World Cup.
This was after a request from the region’s football federation amid concerns over the spread of coronavirus.
FIFA said in a letter to the South American Football Confederation (CONMEBOL), which the federation tweeted, that it would seek to reschedule the 10 matches.
They were due to take place between March 23 and March 31.
A number of Latin America’s top football stars play for European teams in countries that have seen significant cases of the virus.
They would have faced quarantines on their return to their home countries.
FIFA Secretary General Fatma Samoura told her counterpart at CONMEBOL, Jose Astigarraga, that the health and safety of those involved in the World Cup was her primary concern.
“We will continue to work with and consult you and your team to be able to find possible dates in which these matches can be played, something which will require… solutions that take into account the unique and fast-changing nature of this exceptional situation,” she wrote in the letter.(Reuters/NAN)
March 13, 2020
Kebbe by-election: Gov. Tambuwal canvasses support for PDP’s candidate
Gov. Aminu Tambuwal of Sokoto State has appealed to the electorate to vote for the Peoples Democratic Party’s (PDP) candidate in the March 14 by-election into the state House of Assembly seat for Kebbe constituency.
A statement by the governor’s Special Adviser on Media and Public Affairs, Malam Muhammad Bello, said Tambuwal made call as he rounded off the party’s campaign in Kebbe Local Government Area.
The seat for the constituency became vacant following the death of the member representing the area, Isah Harisu-Kebbe
The governor urged the electorate to vote for the PDP’s candidate, Alhaji Adamu Abubakar in the by-election.
He also urged them to disregard rumor that the APC’s candidate in the election, Alhaji Abubakar Bello, who stepped down from contesting had been substituted.
“It is a lie that the APC will replace its candidate who stepped down.
“So, do not allow yourselves to be deceived. Go out and vote for the PDP candidate,’’ Tambuwal said.
The governor prayed for the repose of the soul of late Isah Harisu-Kebbe, whose death created the vacuum for the by-election.
He expressed gratitude to the people of the area for their reception and urged them to be security conscious and assist security agencies to perform their duties effectively during the election.
He also called on them to support his government in its bid to deliver good healthcare system, improve education and upscale infrastructure development.
The state PDP Chairman, Alhaji Ibrahim Milgoma, expressed confidence that the party would win the Saturday election. (NAN)
March 13, 2020