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COVID-19: FG releases N10bn for domestic vaccines production

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Namibia officially begins ‘Trusted Travel System’ for COVID-19 tests, vaccination

The Ministry of Finance has released N10 billion to support domestic vaccines production to tackle COVID-19 pandemic in the country.

The Minister of Health, Dr Osagie Ehanire, made the disclosure at the Presidential Task Force (PTF) COVID-19 briefing on Monday in Abuja.

Ehanire said: “The Ministry of Finance has released N10 billion to support domestic vaccine production.

“While we are working to develop our own vaccines, Nigeria is exploring options for licensed production, in collaboration with recognised institutions. We are also exploring the option of local production of the vaccines in the country.”
He urged Nigerians to ignore claims by some people that they had COVID-19 vaccines for sale in the country.
“I advise all citizens to disregard these claims, as they are criminal. There are procedures for vaccine acquisition and use, which include appropriate regulations and certification by National Agency for Food and Drug and Administration and Control (NAFDAC).

“I advise against fake vaccines, as there is no one approved for use in the country. The National Primary Health Care Development Agency (NPHCDA) is the only authorised vaccine administrator in Nigeria,” he said.

Ehanire stated that the number of new COVID-19 cases had continued to rise in the country, such that 10,300 confirmed cases were reported from just 50,750 samples tested in one week, translating into 20 percent positivity rate.

“It means one out of every five persons tested in the last one week turned out positive, compared with the previous week which recorded a positivity rate of 14 percent.

“Nigeria’s total number of confirmed cases is 110,387 out of a total of 1,172,234 samples tested, with a cumulative positivity rate of 9.4 percent. 1,444 cases were recorded in the past 24 hours, with sadly 77 deaths in the past week and total fatality of 1,435.

Also read:  ‘Be Careful, Covid-19 is real!’ Warns Oba Odutala, Traditional ruler of Aiyetoro-Budo

“It is instructive of the second wave that all cases recorded so far this January is more than 20 percent of all confirmed cases in Nigeria, more than the whole of December, barely halfway through the month.

“There is no doubting the fact that we are deeply into the second wave of the pandemic which requires that PTF and FMoH review our strategies to respond to the challenge.

“The federal ministry of health has outlined three approaches to confront the pandemic. These are: infection mitigation, therapeutics and vaccines,” he said.
Ehanire reiterated that reducing infection rate for COVID-19 remained the easiest and cheapest objective of the government.

According to him, government’s main effort is to ensure social mobilisation for testing, strengthening surveillance activities for early detection, active contact tracing, isolation and treatment.

He, however, added that implementation of critical non-pharmaceutical measures required the cooperation of the public.

“This includes much more adherence to wearing masks, social distancing, use of sanitiser, etc. than we are seeing today. Of special concern are the so-called “super spreader activities” that involve congregational settings, which must be reduced, restricted or prohibited in the interest of the common good.

“With regards to therapeutics, we must strive to reduce mortality from this disease by ensuring adequate stock of supplies and strengthening our case management capacity.

“In this regard, the ministry of health is working to expand oxygen availability across the country to address shortages, which have been a challenge globally, and also to review the value of various pharmaceuticals and protocols proposed for COVID-19 treatment.
“Clinicians are also urged to work out guidelines for participating in clinical studies,” the minister said.

 

 

Banking & Finance

Bank Stock Sell-Offs Make NGX Transaction Value To Drop 2.60%

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Bank Stock Sell-Offs Make NGX Transaction Value To Drop 2.60%

Bearish sentiment persisted on banking stocks at the equity market on Friday, making the value of transactions traded on the floor of the Nigerian Exchange Ltd. (NGX) down by 2.60 per cent.

Analysis of the market activities indicated trade turnover settled lower relative to the previous session.

Specifically, investors transacted a total of 257.86 million shares valued at N5.40 billion exchanged in 7,168 deals, as against 285.91 million shares worth N5.54 billion exchanged in 7,726 deals posted on Thursday.

Consequently, the market capitalisation, which opened at N56.469 trillion, shed N173 billion or 0.31 per cent to close at N56.296 trillion.

The All-Share Index also dropped 0.31 per cent or 306 points to settle at 99,539.75, compared to 99,845.91 recorded in the previous session.

As a result, the Year-To-Date (YTD) return dipped to 33.12 per cent.

Sell-offs in Guaranty Trust Holding Company (GTCO), FBN Holdings, Zenith Bank,  Access Corporation,  Stanbic IBTC Bank, Jaiz Bank, as well as United Capital and Unilever Nigeria, among other top decliners, drove the market to a negative terrain.

Meanwhile, market breadth closed negative with 20 losers and 14 gainers.

On the losers’ chart, United Bank led by 10 per cent to close at N1.62, FBN Holdings followed by 9.83 per cent to close at N24.30, Tantalizers declined by 8.57 per cent to close at 32k per share.

Deap Capital Management shed 7.35 per cent to close at 63k and Caverton went down by 6.83 per cent to close at 1.50 per share.

On the gainers’ chart, FTN Cocoa Processors led by 9.60 per cent to close at N1.37, RT Briscoe trailed by 9.26 per cent to close at 59k, and Livestock Feed gained N1.45 per share.

Royal Exchange Assurance added 8.06 per cent to close at 67k, while Consolidated Hallmark Plc rose by 7.44 per cent to close at N1.30 per share.

On the activity chart, UBA led in volume with 38.72 million shares traded at a value of N888.55 million, while GTCO led in value with 38.30 million shares worth N1.31 billion.

Access Corporation also sold 34.34 million shares worth N584.54 million, Zenith Bank traded 24.41 million shares worth N875.85 million and The Initiative Plc transacted 17.52 million shares worth N34.13 million.

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Banking & Finance

CBN Revokes Licenses Of 4,173 BDCs

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The Central Bank of Nigeria (CBN), has announced the revocation of the operational licences of 4,173 Bureaux De Change (BDCs) for failure to observe some regulatory provisions.

According to a statement issued by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi on Friday in Abuja, the move is an exercise of the powers conferred on it under the Bank
and Other Financial Institutions Act (BOFIA).

Sidi said that the list of affected BDC operators was available on the Bank’s
website.

Forex inflow: CBN tasks banks to support indigenous companies

She said that the affected institutions failed to observe at least one of the following regulatory provisions:

They are payment of all necessary fees, including licence renewal, within the stipulated period in line with the guidelines.

Others are the rendition of returns in line with the guidelines and compliance with directives and circulars of the CBN, particularly Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Counter-Proliferation Financing (CPF) regulations.

“The CBN is revising the regulatory and supervisory guidelines for BDC operations in Nigeria.

” Compliance with the new requirements will be mandatory for all
stakeholders in the sector when the revised guidelines become effective.

“Members of the public are hereby advised to take note and be guided accordingly,” she said. (NAN

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Banking & Finance

NGX: Stock Market Performance Indices Up By 0.33%

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Stock Market Gains N18bn; FTN Cocoa Processors, Prestige Assurance lead Losers’ Chart 

…Guinea Insurance leads the losers’ chart

The stock market on Tuesday maintained a bullish trend, bringing the benchmark indices up by 0.33 percent, to close at N39.349 trillion as against N39.219 trillion recorded on Monday.

Specifically, the market capitalisation gained N130 billion, representing 0.33 percent.

Also, the All-Share Index gained 327.35 points or 0.33 percent to stand at 71,907.26 as against 71,669.91

The increase was due to sustained buying interest in MTN Nigeria and Tier-one bank stocks; namely Guaranty Trust Company(GTCo) Access Holdings, among others.

As a result, the Year-to-Date (YTD) return rose to 40.30 percent.

On top stock traders, Julius Berger led by volume with N42.54 million, valued at N14.73 billion, while GTCo was the most traded stock by value with N84.92 billion units traded.

The gainers table was led by Infinity with 9.79 percent to close at N2.13 per share.

SCOA Nigeria Plc followed with a gain of 9.45 percent to close at N1.62, while Daar Communication rose by 8.82 percent to close at N0.37 per share.

Royal Exchange increased by 8.47 percent to close at N0.64, while Neimeth appreciated by 7.89 percent to close at N2.05 per share.

Stock Market Gains N18bn; FTN Cocoa Processors, Prestige Assurance lead Losers’ Chart 

On the other hand, Guinea Insurance led the losers’ chart in percentage terms by 10 percent to close at N0.27 per share.

This was followed by Conoil with 9.83 percent to close at N78.00 per share.

Juli shed 9.72 percent to close at N0.65, Omatek closed at 8.75 percent, indicating a loss of N0.73, while Thomaswy lost 8.13 percent to close at N3.05.

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