Hello and welcome! In today’s trending news stories;
1. Nigerian billionaire Aliko Dangote has decided to honor the memory of the late banking icon Herbert Wigwe by naming a significant road leading to the Dangote Refinery after him. Dangote made this announcement during a tribute event where he fondly remembered Wigwe as a friend, brother, and mentee. Herbert Wigwe, the group CEO of Access Bank, tragically passed away in a helicopter crash in the United States, along with his wife, son, and former group chairman of the Nigerian Exchange Group Plc.
2. The EFCC disclosed that 70% of financial crimes in Nigeria are linked to the banking sector, according to its chairman, Ola Olukoyede. Speaking at a meeting in Abuja, he emphasized the need for collaboration to address fraudulent activities, which include both internal and external factors such as selling customers’ deposits, forgery, hacking, and ATM fraud. Olukoyede highlighted the alarming collaboration between insiders and outsiders in perpetrating these crimes, stressing its detrimental impact on the banking system’s integrity.
3. The Nigerian Exchange Ltd. (NGX) equity market saw a positive opening on Monday, driven by gains in Transcorp Power Plc and 22 other listed companies, boosting overall market capitalization by N1.86 trillion. Transcorp Power’s listing of 7.5 billion shares aimed to attract new investors and diversify its shareholder base. The market capitalization increased to N55.890 trillion from N54.035 trillion, with the All-Share Index (ASI) rising to 98,847.89 points, and the Year-To-Date return reaching 32.20 percent. Notable gainers included Transcorp Power, Transcorp, and PZ Cussons Nigeria. Market activity showed increased trade turnover, with 429.64 million shares valued at N19.92 billion exchanged. However, market breadth closed negative with 25 losers’ equities and 23 gainers.
4. Troops stationed in the Ochumekwu community in Benue State were reportedly attacked by suspected armed herdsmen. Major General Sunday Iserihen Igbinomwanhia, the Force Commander of Operation Whirl Stroke (OPWS), confirmed the incident, stating that one soldier was killed and another injured in the attack. In response, the troops engaged the attackers, resulting in the deaths of three herdsmen and several others injured. Additionally, one AK-47 rifle and ammunition were recovered from the attackers. The OPWS is conducting clearance operations to eliminate suspected armed foreign herders who have invaded the Kwande Local Government Area. This incident follows a similar attack in February where a soldier was killed and two others injured in Agatu local government by suspected herdsmen.
5. Manchester United’s players are increasingly uncertain about Erik ten Hag’s future as manager for the next season, despite his continued support within the dressing room. There’s speculation that new co-owner Ineos might replace him after this season. Although Ten Hag feels aligned with Ineos’s leadership, he’s confided in the coaching staff and agents about uncertainties regarding his future. Ineos plans to evaluate Ten Hag’s position at the end of the season. Recent defeats and challenges, including injuries impacting the team’s performance, have intensified concerns about Ten Hag’s tenure. Some players express discontent over the intensity of training sessions and management’s approach, highlighting a need for changes to keep the squad fit and motivated.
