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Political commentators say that Akeredolu, who has an idea about his illness, must have planned it in advance by giving his son such enormous power to render the deputy governor’s office incapacitated. It was learned that Governor Akeredolu allegedly sidelined his deputy with the consent of his wife who was said to be against Aiyedatiwa as her husband’s successor. The governor’s wife is said to prefer Oke, who hails from Ilaje, Ondo South State, to take over from her husband because there might be a gubernatorial ticket. For example, former Governor Mimiko who hails from Ondo Central served for eight years, Akeredolu from Owo, Ondo North will be eight in 2025 so the ticket will automatically revert to Ondo South. Oke and Aiyedatiwa are from Ilaje, Akinterinwa from Ile Oluji, Akintelure who was Akeredolu runner up in 2012 is also from Ondo South. The Guardian concluded that since the governor’s wife had enormous influence in Ondo politics, she probably facilitated the appointment of the current deputy governor before they parted ways. This may not be due to the fact that he felt Aiyedatiwa was too ambitious. But attempts to remove Aiyedatiwa failed. The recent Speaker of the Ondo House of Assembly, Bamidele Oloyeloogun, was involved in a plot to initiate impeachment against Aiyedatiwa, but Oloyeloogun refused to participate. Another dangerous game was propaganda to the immediate past Speaker of the Ondo House of Assembly, whose forces wanted to agree on the impeachment of Aiyedatiwa. Unfortunately, the strategy didn’t work. The plan was to ensure that Oloyeloogun would start an impeachment against Aiyedatiwa, but the former speaker got chills from the move. The idea to force Oloyeloogun to resign was to bring in another speaker, perhaps from Owo, Ondo North, to remove Aiyedatiwa if Akeredolu does not return, but the new speaker, who was supposed to come from Owo, Ondo North, simply resigned. . to complete the governor’s mandate. The new speaker will then have no chance to contest the governorship primaries next year because he is not from Ondo South. Unfortunately, the plan failed. Therefore, Oloyeloogun’s signature on the resignation letter was forged and made available to the media, but a speaker in close proximity shouted that his signature was forged. Aiyedatiwa, who was informed of his impeachment plan, quickly contacted the party’s National Secretariat and the Presidency, who sent security agents to surround the Ondo State House of Representatives to prevent Aiyedatiwa from being impeached or Oloyeloogun resigning as Speaker. Following the March 18, 2023 State House of Assembly polls, the Oloyeloogun-led Ninth House of Assembly was dissolved and a new Speaker, Olamide Oladiji, who hailed from the Central Senate Zone, was elected. This shut down the plan to bring in another speaker from Owo North. to end Akeredolu’s tenure. But the plot to get rid of Aiyedatiwa did not stop, his bad guys also organized another plan claiming that he molested his wife which failed again. Opponents of Aiyedatiwa also believe that although he hails from Ilaje, the southernmost largest constituency, their argument is that Aiyedatiwa does not have the capacity to govern Ondo and is not as deeply rooted as Oke, Akinterinwa, Akintelure and others in Ondo region. politics For them, Aiyedatiwa also lacked the necessary leadership. For example, the deputy governor is said to have started presenting himself as the governor even though power has not yet been transferred to him, portraying the behavior of someone who can intimidate other members of the cabinet. Other party sources said Aiyedatiwa’s ordeal could worsen now that the governor is back. Whatever the case may be, experts are crossing their fingers to see how Akeredolu handles the various security reports and other intrigues and the inclusion of all over time.

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Business and Economy

Shares gains on financial services revive Nigerian stocks

By admin Dec 11, 2021

nigerian-stocks

Nigerian stocks bounced back on Friday as the benchmark index ticked up by 0.47 per cent on the back of huge investors’ demand for financial services stocks but the gain was too little to erase the loss the market recorded at the previous session.

Driving the gain were Seplat, FBN Holdings, NGX Group, ETI, Zenith and GTCO.

Despite the climb, the volume of shares trade dropped by 6 per cent while the total value of transactions fell by as much as 34 per cent.

Details came to light Friday morning of the acquisition of further stake in FBN Holdings by billionaire mogul Femi Otedola, bringing its total interest in the group to 7.57 per cent and consolidating his position as its biggest shareholder.

A formal announcement will likely follow in the days ahead Shares in FBN Holdings jumped 2.59 per cent to N11.90 after the news broke.

Market breadth, which measures investors’ sentiment towards trade, was positive as 24 gainers emerged compared to 12 laggards.

The all-share index rose 197.75 basis points to 41,882.97, while market capitalisation closed higher at N21.86 trillion. The index has been up 4 per cent since the start of the year.

TOP FIVE GAINERS

Meyer led gainers, appreciating by 10 per cent to close at N0.33. Sovereign Trust rose to N0.24, notching up 9.09 per cent in the process.

UPDCREIT added 8.64 per cent to end today’s trade at N4.40. Guinness went up by 6.85 per cent to N39. Champion Breweries climbed 6.27 per cent to N2.71.

TOP FIVE LOSERS

Unity Bank led losers, declining by 6.52 per cent to close at N0.43. Jaiz Bank shed 5.97 per cent to close at N0.63. Custodian fell to N7.10, losing 5.33 per cent.

Courteville dipped to N0.37, recording 5.13 per cent depreciation. Chams closed at N0.20, going down by 4.76 per cent.

TOP FIVE TRADES

Altogether, 444.9 million shares estimated at N3.4 billion were traded in 3,594 deals.

C&I Leasing was the most active stock with 146.4 million units of its shares worth N672.5 million traded in 10 deals. Access Bank traded 55.8 million shares priced at N511 million in 130 transactions.

FBN Holdings had 35.3 million shares valued at N415.1 million traded in 250 deals. FCMB traded 35.3 million shares estimated at N105.5 million in 73 transactions. Unity Bank traded 30 million shares valued at N12.8 million in 43 deals.

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Political commentators say that Akeredolu, who has an idea about his illness, must have planned it in advance by giving his son such enormous power to render the deputy governor’s office incapacitated. It was learned that Governor Akeredolu allegedly sidelined his deputy with the consent of his wife who was said to be against Aiyedatiwa as her husband’s successor. The governor’s wife is said to prefer Oke, who hails from Ilaje, Ondo South State, to take over from her husband because there might be a gubernatorial ticket. For example, former Governor Mimiko who hails from Ondo Central served for eight years, Akeredolu from Owo, Ondo North will be eight in 2025 so the ticket will automatically revert to Ondo South. Oke and Aiyedatiwa are from Ilaje, Akinterinwa from Ile Oluji, Akintelure who was Akeredolu runner up in 2012 is also from Ondo South. The Guardian concluded that since the governor’s wife had enormous influence in Ondo politics, she probably facilitated the appointment of the current deputy governor before they parted ways. This may not be due to the fact that he felt Aiyedatiwa was too ambitious. But attempts to remove Aiyedatiwa failed. The recent Speaker of the Ondo House of Assembly, Bamidele Oloyeloogun, was involved in a plot to initiate impeachment against Aiyedatiwa, but Oloyeloogun refused to participate. Another dangerous game was propaganda to the immediate past Speaker of the Ondo House of Assembly, whose forces wanted to agree on the impeachment of Aiyedatiwa. Unfortunately, the strategy didn’t work. The plan was to ensure that Oloyeloogun would start an impeachment against Aiyedatiwa, but the former speaker got chills from the move. The idea to force Oloyeloogun to resign was to bring in another speaker, perhaps from Owo, Ondo North, to remove Aiyedatiwa if Akeredolu does not return, but the new speaker, who was supposed to come from Owo, Ondo North, simply resigned. . to complete the governor’s mandate. The new speaker will then have no chance to contest the governorship primaries next year because he is not from Ondo South. Unfortunately, the plan failed. Therefore, Oloyeloogun’s signature on the resignation letter was forged and made available to the media, but a speaker in close proximity shouted that his signature was forged. Aiyedatiwa, who was informed of his impeachment plan, quickly contacted the party’s National Secretariat and the Presidency, who sent security agents to surround the Ondo State House of Representatives to prevent Aiyedatiwa from being impeached or Oloyeloogun resigning as Speaker. Following the March 18, 2023 State House of Assembly polls, the Oloyeloogun-led Ninth House of Assembly was dissolved and a new Speaker, Olamide Oladiji, who hailed from the Central Senate Zone, was elected. This shut down the plan to bring in another speaker from Owo North. to end Akeredolu’s tenure. But the plot to get rid of Aiyedatiwa did not stop, his bad guys also organized another plan claiming that he molested his wife which failed again. Opponents of Aiyedatiwa also believe that although he hails from Ilaje, the southernmost largest constituency, their argument is that Aiyedatiwa does not have the capacity to govern Ondo and is not as deeply rooted as Oke, Akinterinwa, Akintelure and others in Ondo region. politics For them, Aiyedatiwa also lacked the necessary leadership. For example, the deputy governor is said to have started presenting himself as the governor even though power has not yet been transferred to him, portraying the behavior of someone who can intimidate other members of the cabinet. Other party sources said Aiyedatiwa’s ordeal could worsen now that the governor is back. Whatever the case may be, experts are crossing their fingers to see how Akeredolu handles the various security reports and other intrigues and the inclusion of all over time.

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