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Pastor Bakare criticizes the late singer MohBad for his ‘controversial way of living’ and mentions his name

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During his address at the 2nd anniversary celebration of The Envoy Nation, a UK-based church, Pastor Tunde Bakare, the General Overseer of the Citadel Global Community Church, shared his thoughts about the late singer Ilerioluwa Aloba, known as Mohbad.

Bakare suggested that Mohbad had experienced the consequences of his tumultuous lifestyle while still alive.

He mentioned that the former signee of the Marlian Music record label had associated with unsavory individuals during his lifetime.

Pastor Bakare went on to reflect on Mohbad’s life choices, particularly his involvement in what he referred to as an “unpleasant lifestyle.” He asked the congregation to consider whether the name “Mohbad” was a favorable one.

He recounted a recent incident where he and his wife had listened to a recording about Mohbad, the Nigerian artist who tragically passed away at the age of 27.

Bakare noted that during Mohbad’s days of indulging in drinking, smoking, and affiliating with negative influences, he likely did not anticipate the swift arrival of consequences or his untimely demise.

In clarifying his stance, Bakare emphasized that he wasn’t assigning blame but rather sharing these observations with the congregation.

He concluded by acknowledging that Mohbad’s death occurred on September 12, 2023, at the age of 27, with the cause of death still awaiting clarification.

Today signifies the commencement of an esteemed figure, the Honourable Oladapo Alao

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In honour of the remarkable hero, the man whose impact knows no bounds, and the world’s greatest father. Your love as a father transcends words, and your care is immeasurable to the world.

Honorable Oladapo Alao, residing in Atlanta, Georgia, USA 🇺🇲🇺🇸, is blessed with four beautiful and exceptional children. He is a dedicated entrepreneur and a diligent businessman.

On behalf of your children, we joyously celebrate you and wish you many more years of success on this Earth.

Warm regards,
Ayobami Alao

The Police Command did not intervene in the Mohbad rally held in Rivers

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The Rivers State Police Command has refuted claims of halting a scheduled procession in honor of the late singer, Ilerioluwa Aloba, known as Mohbad, in Port Harcourt on Saturday.

The police insisted that the procession took place without interruption.

Some residents of Port Harcourt and fans of the late singer had alleged that the police obstructed the candlelight procession to honor the musician in the city.

It was reported that, despite a directive canceling the #Justice for Mohbad procession, some residents gathered at an alternate location but eventually dispersed due to a low turnout.

One of the organizers, identified as Gbemisola, denied the police’s version of events, stating that the State Commissioner of Police had initially invited him to his office and asked him to cancel the procession.

Gbemisola expressed disappointment, as the organizers had officially applied for and received police approval for the event.

He explained that even after agreeing to suspend the planned procession to avoid disturbing public peace, they had chosen an alternative venue for a candlelight and tribute concert for the late singer.

However, they were surprised when they were informed that the Department of State Services (DSS) had instructed them not to gather at all.

He stated, “We came to honor him (Mohbad) and give him our last respects.

We wrote to the police; they received the letter, stamped it, and everything.”

“So, the Commissioner of Police called me to his office and said we shouldn’t hold it or do any procession on the street.

We decided to relocate it to a confined space at Edy’s Wine Bar in GRA to avoid disturbing public peace.”

“We issued a press statement and sent out a new graphic design for Saturday.

However, this evening, I heard that the DSS was at Edy’s Wine Bar, telling us not to gather tomorrow.”

In contrast, the spokesperson for the state Police Command, Grace Iringe-Koko, disputed the organizers’ claims, asserting that the procession occurred without interruption.

Iringe-Koko added that even though the organizers had not formally applied for approval, the Command had provided security led by the Deputy Commissioner of Police, Operations.

She emphasized that any suggestion that the police had stopped the rally aimed to cast the force in a negative light, stating, “Police did not halt any rally or prevent anyone from protesting.

They conducted it successfully, with police providing security. The disruption was caused by rain.”

External debt surges to N13 trillion due to the depreciation of the naira

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The depreciation of Nigeria’s currency, the naira, has led to a substantial increase in the country’s external debt by N13.38tn during the second quarter of 2023.

While the total external debt increased by $490m between the first and second quarters of 2023, the significant surge in naira value is primarily attributed to the naira’s devaluation.

This devaluation was initiated by the Central Bank of Nigeria’s decision to unify the nation’s foreign exchange rates.

On June 14, 2023, the Central Bank of Nigeria instructed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market, allowing it to freely float against the dollar and other global currencies.

This policy led to an immediate decline in the naira’s value, plummeting from 471/$ to 770.38/$ within a short period.

Furthermore, the naira’s value continued to fluctuate in the Investors & Exporters’ window and worsened in the parallel market, reaching N1000/$ at one point. Consequently, the Debt Management Office (DMO) adapted to the new exchange rate environment, discarding the N460.35/$ rate used in Q1 2023 and adopting N770.38/$, marking a significant depreciation of 40.24% in the exchange rates applied by the DMO.

According to DMO data, Nigeria’s external debt stood at $43.16bn in Q2 2023, up from $42.67bn in the previous quarter. In naira terms, the debt soared to N33.25tn in Q2 2023, compared to N19.64tn in the preceding quarter, representing a staggering increase of N13.61tn.

However, it’s crucial to note that this substantial rise is primarily attributed to the weakened naira rather than increased borrowing. Had the same exchange rate of N460.35/$ from Q1 been used in Q2, Nigeria’s external debt would have remained at N19.87tn in naira terms.

In summary, the weak naira added N13.38tn to the country’s external debt in Q2 2023 due to the currency’s devaluation.

American surgeons have successfully conducted a groundbreaking second heart transplant from a pig to a human recipient

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Surgeons at the University of Maryland Medical Centre in the United States have recently achieved another milestone by successfully performing a second transplant using a genetically modified pig heart.

This groundbreaking surgery was carried out on a 58-year-old patient named Lawrence Faucette, who was suffering from end-stage heart disease. Faucette underwent this pioneering pig heart transplant on September 20, 2023.

Notably, the first historic procedure of this kind took place in January 2022 when David Bennett received a genetically modified pig heart transplant from the skilled surgeons at the University of Maryland Medicine.

Both of these remarkable surgeries were performed by the esteemed faculty of the University of Maryland School of Medicine.

For Mr. Faucette, this transplant represented his only viable option due to his pre-existing peripheral vascular disease and complications related to internal bleeding.

However, there is now encouraging news to share.

A statement on the UMSOM website reports that Lawrence Faucette is currently breathing independently, and his newly transplanted pig heart is functioning well, without the need for any supportive devices.

Dr. Bartley Griffith, the surgeon responsible for transplanting the pig heart into both patients at UMMC, expressed immense gratitude to Mr. Faucette for his bravery and willingness to contribute to the advancement of knowledge in this field. Dr. Griffith is hopeful that Faucette will soon return home to cherish more time with his wife and beloved family.

In response, Lawrence Faucette himself expressed his outlook on the situation, saying, “My only remaining hope lies in this pig heart, this xenotransplant.

Dr. Griffith, Dr. Mohiuddin, and their entire team have been remarkable, but what lies ahead remains uncertain. At least now, I have hope and a fighting chance.”

Conoil is set to distribute a dividend of N1.73 billion to its shareholders

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Conoil Plc has announced a dividend payout of N1.73 billion to its shareholders, equating to N2.50 per share for the 2022 financial year.

Despite facing challenges in Nigeria’s developmental landscape and a demanding operating environment, the company reported significant growth.

Their Profit Before Tax surged by 60.1% to N6.13 billion in 2022, up from N3.83 billion in 2021, while Profit After Tax also saw a 60% increase, rising from N3.08 billion to N4.96 billion during the same period.

Conoil Plc’s gross earnings for the 2022 financial year increased by 5.1% to N145.8 billion compared to N138.2 billion in 2021.

Earnings per share also climbed to N7.14, a 60.8% rise from the N4.44 earned in 2021.

Shareholders unanimously approved the proposed final dividend of N1.73 billion at the company’s Annual General Meeting.

Dr. Mike Adenuga, the Chairman of Conoil Plc, emphasized the company’s commitment to delivering value to shareholders and maintaining a positive share price trajectory.

He highlighted their consistent ability to improve operating margins, expand volumes across locations, and their talented workforce.

The company’s primary goal is to provide excellent services to customers while rewarding shareholders.

Looking ahead, Dr. Adenuga acknowledged potential challenges arising from geopolitical and socio-economic changes but stressed that Conoil would focus on proven strategies to maximize returns.

He also mentioned the Nigerian government’s ongoing reforms, such as removing the petrol subsidy and foreign exchange market reforms, which would inform Conoil’s strategic direction for continued success and shareholder benefits.

Entrepreneur Advises Youngsters to Prioritize Self-Employment

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Willabo Apelebiri, the Chief Executive Officer of Blackwave Security Services Limited, a prominent private security firm, issued a compelling appeal during the 2023 Nigerian Youth Entrepreneurship Summit in Lagos.

Apelebiri encouraged the nation’s youth to channel their efforts into establishing a vibrant entrepreneurial community, envisioning a future where this initiative will significantly alleviate unemployment in Nigeria.

In his address, he emphasized that entrepreneurship serves as the pivotal key to unleashing the latent potential within Nigeria’s youth.

He stressed that by embarking on entrepreneurial ventures, young individuals can not only create employment opportunities for themselves but also for others, thereby contributing to the overall development of the Nigerian economy.

Apelebiri underscored the transformative impact of entrepreneurship in curbing crime and social unrest, offering a constructive avenue for the energy of young people and steering them away from negative influences.

He passionately implored the government to take more substantial steps in supporting aspiring young entrepreneurs, advocating for increased accessibility to financial resources, comprehensive training, and mentorship programs.

Furthermore, he urged the government to cultivate a conducive environment for entrepreneurship to flourish by reducing tax burdens and regulatory complexities.

Apelebiri emphasized that simplifying the process of starting and nurturing businesses is essential for the prosperity of the nation.

Commencing festivities in honour of a queen as she marks another year of achievements – Temitope Deborah Akinlade

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Today, we joyfully celebrate the extraordinary Queen, Temitope Deborah Akinlade, as she adds another year to her remarkable journey on this Earth.

From the moment she was born, her story began, and today, we mark the commencement of her jubilant celebration.

The entire member joins in this festive occasion, extending our heartfelt prayers for your enduring health, boundless prosperity, all in the name of Jesus.

Wishing you both a happy new year and a joyous birthday.

Know that you are dearly loved!

Dangote Secures ‘Brand of the Year’ Award Once More

Dangote Industries Limited has been bestowed with the prestigious Brand of the Year accolade, in acknowledgment of the company’s exceptional corporate achievements in the past year.

During the ceremony held in Lagos, John Ajayi, the Publisher of Marketing Edge, elucidated that Dangote earned this flagship award in recognition of its consistent contributions to the economic growth of Nigeria and the entire African continent.

This recognition encompasses a wide spectrum of business investments and corporate initiatives executed by Dangote across Africa,” emphasized Ajayi.

During the award presentation, he attributed Dangote’s remarkable standing among its industry peers to its robust efforts in job creation, particularly for the youth, and commended the company for its unwavering commitment to vital infrastructure development.

He noted that this award presentation marked the centerpiece of Marketing Edge’s 20th-anniversary celebration and the 11th edition of its annual Brands and Advertising Excellence Awards.

Additionally, numerous other brands received well-deserved recognition for their outstanding performance in the market.

Ajayi underscored that Marketing Edge’s two-decade presence in the industry had firmly established its role as a trusted and authoritative partner for all stakeholders in the Nigerian marketing and advertising landscape.

 

Minimal investor enthusiasm contributes to a stagnant performance on the NGX ASeM board

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The lack of investor enthusiasm in the Alternative Securities Market (ASeM) board of the Nigerian Exchange Limited has resulted in a stagnant trading environment for several weeks. According to data provided by the NGX, the ASeM board’s index has remained static at 658.99 basis points since July 19, 2023.

The ASeM board features various companies, including Capital Oil with a market capitalization of N1.17 billion, Juli with N157.92 million, Rak Unity Petroleum Company with a market capitalization of N16.988 million, and Smurfit Products Nigeria with N9 million in market capitalization.

Capital Oil concluded trading at N0.2 on the most recent Friday and has experienced minimal activity lately.

The company’s last financial results on the Nigerian Exchange Limited date back to September 30, 2018.

Another entity listed on the ASeM board is Juli Plc, engaged in pharmaceutical retail, supermarket operations, and laboratory services.

It closed trading at N0.79 on the last Friday, maintaining this price over its last seven trading sessions, with the most recent activity occurring on July 31, 2023, when 888 units of its shares were traded. Juli has submitted financial results up to the first half of 2023 with the NGX.

Smurfit also closed trading at N0.2 on the recent Friday, the same price at which 1,500 units of its shares were last traded on July 17.

Meanwhile, Rak Unity Petroleum Company plc’s shares concluded at N0.3 per share on the same Friday.

Furthermore, the NGX Regulation Limited, in its X-Compliance Report dated September 8, 2023, disclosed that the process of winding down the ASeM Board is currently underway.

In response to this situation, capital market experts have noted that the board’s subdued performance is primarily attributed to the lack of investor interest.

Tajudeen Olayinka, a stockbroker and the CEO of Wyoming Capital & Partners, emphasized that this is more a reflection of investor sentiment rather than issues with the companies themselves.

These ASeM-listed companies are typically smaller in scale and not highly capitalized, which may deter investors seeking more liquid and well-established opportunities in the market.