The Nigeria stock market closed on Thursday bullish, as the All-Share Index increased by 0.47 per cent to 51,618.73 points from 51,377.21 points on Wednesday.
Similarly, the market capitalization increased by N130 billion to N27.828 trillion from N27.697 trillion the previous day.
The market breadth was negative as 18 stocks advanced, while 22 stocks declined.
First Bank of Nigeria (FBNH) led the gainers’ chart in percentage terms by 9.78 per cent to close at N10.10 per share.
FTNCocoa followed with a gain of 9.38 per cent to close at 35k, while Chiplc rose by 8.06 per cent to close at 67k per share.
Livestock and Union Bank of Nigeria (UBN) also went up by 6.94 per cent and 6.19 per cent each, to close at N1.54 and N6 per cent, respectively
On the other hand, Academy and EllahLake led the losers’ chart in percentage terms by 10 per cent each to close at N1.17 and N3.94 per share, respectively
Presco shed 9.84 per cent to close at N165 per share.
Etranzact also lost 9.84 per cent to close at N2.20 per share, while Meyer lost 9.68 per cent to close at N2.52 per share.
Meanwhile, the total volume traded increased to 223.25 million units from 229.37 million units recorded the previous day.
Also, total value of trade stood at N2.86 billion, exchanged in 4,028 deals.
Transactions in the shares of Mutual Benefits Assurance topped the most volume chart with 40.13 million shares valued N10.03 million.
Oando followed with 28.52 million shares worth N168.94 million, while First City Monument Bank (FCMB) traded 24.45 million shares valued N85.57 million.
Accesscorp traded 24.1 million shares valued N229. 02 million, while FBNH transacted 12.36 million shares worth N121.77 million.
In a related development, the Federal Capital Territory Administration (FCTA), on Thursday sealed off a popular pub and event center, Zodara Bar, on No. 2 Bujumbura St. at Wuse II, in Abuja metropolis.
The operation was carried out by the FCTA Multi Departmental Operations, headed by the Abuja Metropolitan Management Council (AMMC).
Addressing newsmen shortly after sealing of the property, the Coordinator of AMMC, Shuaibu Umar, explained that the operation became necessary following a court order which indicated a change of land use and illegal activities constituting a nuisance to public peace.
” First and foremost, the property that is in use now is constituting general environmental nuisance to the whole of the neighborhood. The whole of the area is disturbed by the activities going on in this building.
” As you can see, it is a multi-departmental operation headed by the Abuja Metropolitan Management Council (AMMC).
“All departments are involved namely, Park and Recreations, Abuja Environmental Protection Board (AEPB), Department of Development Control, Enforcement Team from the office of the FCT Minister.
“We received so many complains from whatever activities happening here and we followed all necessary processes.
“We went to court and obtained a seal off order. Whatever we are doing here is enforcing what the court has directed.”
He emphasized the need for the owners of property to always ensure compliance with the land use of the area, adding that they must comply with the environmental and all necessary guidelines governing the operation either as residential, commercial or recreational in the FCT.
“Whatever we do here is that we must not allow any impunity to take place in the FCT.
” We have so many complaints and we gave many notices to the occupant of this property yet they proved to be very recalcitrant.
” And we have taken the necessary steps in order to sure that we rid this neighborhood of any nuisance that is emanating from this place.”
On his part, the Director of AEPB, Mr Osi Braimah, stated that the FCT was a creation of law, adding that all activities in the city were guided by law.
” If you are going to build a property, you must get approval from the Department of Development Control, if you want to change your land use you must get an approval.
” Also the noise level in the FCT is controlled. So clubs, gardens and all that must comply with the noise requirements.
” This is why we are forced to close this property because people living around this area can no longer sleep or rest because of the activities going in this building,” he said.
Also, the Director, Department of Development Control, Malam Muktar Galadima, said all development in the FCT are guided by the Abuja Master Plan.
” This plot in question was designed and approved for residential purpose but they have converted the land use and it has become a nuisance to the environment.”
Mr Ikharo Attah, the Senior Special Assistant on Monitoring, Inspection and Enforcement to the FCT Minister, said that the minister insisted that all the legalities happening around the area must stop.
” If you look at the parking alone here, it is very disturbing and painful. But the beauty of it all and what we will be taking home from here is the fact that FCT agencies under AMMC are driving home a very strong message that you don’t abuse and rape the Urban and Regional Planning Law and AEPB Act and go free.
The illegal activities going on at the property include a restaurant, barbing saloon, club house, which is a violation of the original allocation of the plot meant for residential purpose.
