Team Nigeria grabs two more gold, breaks another world record

Handout image supplied by OIS/IOC showing Nigeria’s Lauritta Onye, Gold Medal winner in the Women’s Shot Put – F40 Final in the Olympic Stadium, during the Paralympic Games, in Rio de Janeiro, Brazil, on September 11, 2016. Photo by Thomas Lovelock for OIS/IOC via AFP.

Nigeria yesterday continued its impressive form at the on-going Rio 2016 Paralympic Games when it won two more gold medals and a bronze to bring the country’s tally to five gold, two silver and a bronze medal.

Powerlifting gave the country the previous medals and one of the gold medals yesterday, but athletics also came to the party with a gold in the shot put event.

Powerlifter, Ndidi Nwosu, got the country off to a good start on the day when she won gold at the women 73kg event, while Onye Lauritta won the country’s first gold medal in athletics when she took the gold in the shot put event with a new world record.

The Most Beautiful Of Them All… Kendall Jenner Covers Allure “Best of Beauty” Issue

After securing four vogue covers, Kendall Jenner who we consider the most beautiful of the Kardashian-Jenner clan embodies beauty as she covers the October 2016 “Best of Beauty” issue of ‘Allure’ magazine.

Proud mom of the 20 year old Kris Jenner posted the Allure cover on her Instagram, she wrote: “The cover of @allure #BestofBeauty issue!!! My beauty @kendalljenner … #proudmama #covergirl #love.”

The cover was photographed by the legendary Patrick Demarchelier.

See photos of the issue below.

Hair: Jimmy Paul

Makeup: Romy Soleimani

Why I can not serve in Buhari adminitration: Okonjo-Iweala

Former Finance Minister, Dr. Ngozi Okonjo-Iweala, has ruled the possibility of her ever serving in the incumbent administration of President Muhammadu Buhar

Okonjo-Iweala, who had served as finance minister under President Olusegun Obasanjo and Goodluck Jonathan administrations,  said it was better to allow those managing Nigeria's economy to do the best they could.

She spoke while participating in an Aljazeera programme: The Stream,

When asked of her  availability to serve the present administration if overtures were made to her by President Muhammadu Buhari, she said that  Nigeria boasts of competent people, who would offer their services when called upon.

The former minister  said it is regrettable  that the economic gains recorded in Africa have started eroding a few years ago.

In her opinion, the solution must be to address the macroeconomic question, saying that having a firm control over the rate of inflation in addition to ensuring a stable exchange rate should be prioritised by African governments.

According to her, One of the things you learn as you get wiser is to talk less as you grow older. I have spent my time contributing to the country. It will be better to live those managing the economy to do what they know how to do. There can be solutions. Ex Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala “I am not a typical politician.

“I went in as a technocrat. I think on the continent we have seen a period when the economy was doing well, in the last two years we have been experiencing challenges. We  need to focus on the basics which are macro-economics. You must get the fundamentals like having a stable exchange rate and having  inflation under control. “I served my country for seven years and it was a great honour. The second time was very tough but it is still an honour. I am not the only person who is a repository of knowledge. There are other people who can equally try their hands in running the economy.

“I will advise young people not to wait for employment. They should create jobs to employ six people or more. During my time in government, we had a programme called You Win designed to support young entrepreneurs. The whole idea was to have a business plan competition.

“The idea was that they should create jobs. And each, created 9-10 jobs. The World Bank did an evaluation of it and found it good. I do believe that the government should come in. We started a peer to peer mentoring. Now, one of the things I want to say is that creating employment is not only about struggles, it is about managing success.”

On how how corruption was tackled at her time in government, she said: “It was a very tough fight, I must thank my team, you don't do it alone, I had the support of an economic team in the Ministry of Finance. It was tough because at the end of the day you need to have some principles.”

Patience Jonathan: Reps caution EFCC, others against rumours, media trial

Members of the House of Representatives on Monday advised security agencies to conclude investigations before smearing the image of Nigerians in the media.

Two members of the House who spoke against the background that the sum of $31.4m was found in a Skye bank account belonging to former First Lady Dame Patience Jonathan, advised government security agencies, including the Economic and Financial Crimes Commission (EFCC) to carry out a proper investigation before crucifying her.

Minority Leader of the House, Leo Ogor in his reaction described the allegation as a mere rumour until there are concrete evidence to convince Nigerians.

He said 'I will liken this situation to that of budget padding that had no substance in all ramifications'.

'We should allow the security agencies conclude all their findings before crucifying Nigerians in the press'.

'Although I've not seen any of the documents that is being paraded but for now we should allow those working on it conclude their investigations first'.

Speaking in the same vein, Rep Ehiozuwa Johnson Agbonayinma, PDP, Edo said 'it's still a rumour though I've not seen the details but as you know she is still innocent until proven otherwise in our law courts.' - Vanguard.

Head Of Russia’s Anti-Corruption Agency Found With $122M In CASH In His House (Photo)

The acting head of Russia’s anti-corruption agency has been caught with$122 million in cash in his home, Russian media reported.

Russian police raided the house of Dmitry Zakharchenko, the deputy head of the Energy Industry Department of the General Administration of Economic Security and Combating the Corruption(GAESCC).

After coming away with the huge sum, $2.2million of which was in Euros, he was arrested on suspicion of abuse of power, obstruction of justice, and accepting bribes.

He allegedly refused to comment on the money or its origins and was charged with abuse of power, obstruction of justice and accepting bribes. He is pleading not guilty.

Nigeria’s Economy Needs New Strategy – Bola Tinubu

Asiwaju Bola Ahmed Tinubu, the National leader of the All Progressives Congress (APC), has said that economic re-strategising and re-planning are necessary to achieve sustainable prosperity in Nigeria.

He did not give details.

Tinubu told newsmen after Eid prayers at Dodan Barracks praying ground in Lagos on Monday that lack of solid foundation contributed to the nation’s current economic situation.

“Without a good and solid foundation, we cannot achieve a sustainable economic prosperity. We depended solely on one channel of revenue.

“So, we need to re-trategise and re-plan, but that planning period is always a very difficult period in any family, organisation and nation. “That is what we are experiencing now, but it is for a better and stronger future.

“The political and economic stability we are enjoying in Lagos today is as a result of a solid foundation,’’ he said.

Nigerian stock market loses N61bn in one week

Activities on the floors of the Nigeria Stock Exchange (NSE) last week dropped as the NSE All Share Index (ASI) and market capitalisation declined by 0.65 per cent to close at 27,577.52 and N9.473 trillion respectively.

For the NSE ASI, the stock market depreciated 179.15 having moved down from 27,756.67 it stood the previous week while for the market capitalisation, the bourse lost N61 billion dropping from N9.534 trillion it closed the previous week.

Similarly, all other Indices finished lower during the week, with the exception of the NSE Main Board Index, NSE Insurance Index, NSE Consumer Goods Index and the NSE Pension Index that appreciated by 0.01 per cent, 0.12 per cent, 0.50 per cent and 0.26 per cent respectively while the NSE ASeM Index closed flat.

In terms of volume and value of trading, a turnover of 1.183 billion shares worth N10.300 billion in 16,522 deals were traded this week by investors on the floor of the exchange in contrast to a total of 1.115 billion shares valued at N13.817 billion that exchanged hands last week in 16,083 deals.

A breakdown of trading activities revealed that the Financial Services Industry (measured by volume) led the activity chart with 1.015 billion shares valued at N7.136 billion traded in 11,012 deals. The figures represented 85.83per cent and 69.28per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed from a distance with 69.777 million shares worth N473.308 million in 564 deals.

The third place was occupied by the Services Industry with a turnover of 42.223 million shares worth N75.881 million in 202 deals. Trading in the top three equities namely – United Bank for Africa Plc, Guaranty Trust Bank Plc and FBN Holdings Plc (measured by volume) accounted for 444.004 million shares worth N4.958 billion in 4,153 deals, contributing 37.53per cent and 48.13per cent to the total equity turnover volume and value respectively.

For the Exchange Traded Products (ETPs), traded during the week were a total of 943 units of ETPs valued at N1.357 million executed in 28 deals, compared with a total of 29,242 units valued at N283,495.57 transacted last week in 42 deals.

Meanwhile, a total of 9,140 units of Federal Government Bonds valued at N9.198 million were traded in 6 deals compared to a total of 4,470 units of Federal Government Bonds valued at N4.313 million transacted last week in 8 deals.

Analysis of trading on Friday showed that at the close of trading, the NSE ASI inched up by 0.01 percentage points to close at 27,577.52, bringing the year-to-date return to -3.72per cent (-6.37per cent – over the last one year on an annualized basis).

Friday’s trading was driven by; Conoil (+10.19per cent, N23.79), 7UP (+4.61per cent, N146.45), PZ Cussons (+4.07per cent, N18.65), Stanbic IBTC (+3.38per cent, N15.00), UBA (+2.50per cent, N4.51), Guinness (+2.20per cent, N100.00), Oando (+1.41per cent, N5.00), Access Bank (+1.10per cent, N5.53), Unilever (+0.57per cent, N40.27), and Total (+0.45per cent, N241.08). Gainers numbering 22 dominated trading as against 17 that were losers.

For the week under review, 24 equities appreciated in price, lower than 28 equities of the previous week. Thirty-eight equities depreciated in price, higher than 31 equities of the previous week, while 118 equities remained unchanged lower than 121 equities recorded in the preceding week. May & Baker was the highest gainer for the week having risen 22.22 per cent in share price while Wema Bank was the highest loser with 12 per cent drop in share price.