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Arrest Senator Rochas Okorocha now or release Joshua Dariye and ex-governor Jolly Nyame -Northern group demands

Some concerned northerners on Friday in Kaduna asked the regime of the President, Muhammadu Buhari, to arrest a former governor of Imo State, Senator Rochas Okorocha, or release ex-governors Joshua Dariye and Jolly Nyame in Correctional Centres over corruption charges. The group under the aegis of Concerned Northern Forum, a coalition of other organizations, also asked the Economic and Financial Crimes Commission to commence the prosecution of the former governor over alleged corruption. One of the leaders of the forum, and National President, Northern Nigeria Youth Forum, Alhaji Abdulsalam Kazeem, at a press conference held at the Arewa House, Kaduna, noted that they are bothered on what’s happening in Imo State because northerners are also residing in the state. The text of the press conference which was titled ‘Embezzlement of public funds: Arrest Senator Rochas Okorocha now or release Joshua Dariye and ex-governor Jolly Nyame.’ Attendees are Alhaji Kabiru Soba, President Arewa Yout

NASD urges investors to seek for unquoted

Nigerian Stock Exchange Amid the bearish equities market, the Nigerian Association of Securities Dealers Over-the-Counter (NASD-OTC) has advised investors to seek for unquoted stocks that have recorded significant returns of not less than 70 percent in the last two years. In a statement made available to Vanguard, NASD-OTC said: “Amid the bearish equity market over the past two years, the shares of Central Securities Clearing System, CSCS rallied strongly, gaining over 70 percent over the past two years, delivering stellar return to its shareholders.

The performance of the stock partly reflects the steady dividend payment culture of the Company.”Notwithstanding the share price rally, the N0.70 per share dividend declared by the CSCS translates to 5.8 percent yield on the share price of N12.00 as at the close of market on Friday, 07 February, 2020. READ ALSO:India sets to shift from buying weapons to exporting NASD said: “Beyond the steady cash flow that the CSCS dividend provides to investors, the strong fundamentals of the company has been a compelling attraction to investors.”Reacting on its performance, the CSCS said: “We posted N6.1 billion profit before tax in 2018 and poised for growth in 2019 full year, FY based on the quarterly performance, our diversification strategy has proven effective.

Renowned for our strong governance, stable profitability and increasing earnings diversification, CSCS remains a prime toast of investors. Despite being unlisted, the stock attracts notable liquidity on the NASD Over-the-Counter.” Meanwhile, following two consecutive years of bearish performance, the Nigerian equity market is recovering fast in recent time, with the Nigerian All Share Index rallying four percent Year-to-Date, YtD. Market operators have attributed the stellar performance of the market in January 2020 to a number of factors, including low valuation of stocks, high dividend yield expectations and increased allocation to equities by fund managers, who seek higher return on investment, following notable moderation in yields on fixed income instruments. Notably, a number of banking stocks on the Nigerian Stock Exchange, such as Zenith Bank, UBA, GTBank have dividend yields in excess of 10 percent, reinforcing the attraction for equities.