Category: PM News

The Nigerian stock market began the week on a positive trajectory, with investors witnessing a strong rebound that added N465 billion to market capitalisation at the close of trading on Monday.

Data from the Nigerian Exchange Ltd. (NGX) showed that the stock market capitalisation climbed to N93.760 trillion from N93.295 trillion recorded on Friday, representing a 0.50 per cent gain.

Similarly, the All-Share Index (ASI) rose by 729.19 points to close at 147,717.23, up from 146,988.04.

The bullish performance was largely driven by renewed investor interest in insurance and power sector stocks, particularly Sovereign Trust Insurance, Regency Alliance Insurance, Transcorp Power, Consolidated Hallmark Holdings, and Halldane McCall.

Sovereign Trust Insurance topped the gainers’ chart, rising by 9.97 per cent to close at N3.53 per share, followed by Regency Alliance Insurance, which gained 9.68 per cent to end at N1.36.

Transcorp Power appreciated by 8.92 per cent to finish at N342, while Consolidated Hallmark Holdings and Halldane McCall rose by 7.14 per cent and 6.80 per cent respectively.

However, the day’s rally was tempered by declines in some equities. Tripple Gee led the losers’ chart, shedding 9.92 per cent to close at N5.45 per share, followed by Wema Bank, which dipped by 4.51 per cent to N19.05. Livingtrust Mortgage Bank, NGX Group, and Cutix also posted losses.

Market activity showed notable improvement, with 624.61 million shares valued at N13.5 billion traded across 31,563 deals, compared with 386.6 million shares worth N11.26 billion exchanged in 21,842 deals on Friday.

Consolidated Hallmark Holdings led the activity chart by volume with 210.5 million shares valued at N909.6 million. Fidelity Bank followed with 47.5 million shares worth N951.82 million, while CHAMS, Universal Insurance, and Sovereign Trust Insurance also featured prominently among the top-traded stocks.

The session’s performance reflects cautious optimism among investors amid ongoing expectations of policy clarity and corporate earnings releases expected later in the month.

A 45-year-old commercial driver, Oluwasina Ajishowo, popularly known as Adex, has been remanded at the Ikoyi Correctional Centre for allegedly stealing three mini buses entrusted to him under a hire-purchase agreement.

Ajishowo was arraigned before the Igbosere Magistrate’s Court, Lagos Island, by officers from the Lion Building Division of the Lagos State Police Command on a two-count charge bordering on conspiracy and stealing.

Police said the suspect was hired by two transport operators, Joy Enokhiimion and Wasiu Abalaga, to operate three commercial mini buses (popularly called Korope) under a hire-purchase arrangement, with an agreement to remit ?30,000 monthly until full ownership of the vehicles was transferred to him.

However, according to police investigations, Ajishowo allegedly sold two of the buses belonging to Abalaga for ?500,000 each and claimed to have given the third bus, with registration number EKY 620 YG, owned by Enokhiimion, to a friend (now at large) to work and remit daily proceeds.

He allegedly fled afterwards with the vehicle and failed to make further payments to his employers.

Following a formal complaint by the vehicle owners, the Divisional Police Officer (DPO) of Lion Building, CSP Jinadu Mustapha, directed a police team led by Inspector Nnamdi Natuja to trace and apprehend the suspect.

The operatives eventually tracked Ajishowo to Ogun State, where he was arrested and brought back to Lagos for prosecution.

Police Prosecutor, ASP Reuben Solomon, informed the court that the offences were committed in December 2024 at 19, Alabi Owoseni Street, Iyana Oworo, Lagos, and that the acts contravened Sections 411 and 287 of the Criminal Law of Lagos State, 2015.

When the charges were read, the defendant pleaded not guilty.

Presiding Magistrate N.A. Oseni granted Ajishowo bail in the sum of ?200,000 with two sureties in like sum.

The sureties, according to the court, must provide verified addresses and show evidence of tax payments to the Lagos State Government.

The case was adjourned to 31 October 2025 for mention, while the defendant was ordered to be remanded at the Ikoyi Correctional Facility pending the fulfilment of his bail conditions.

Former Super Eagles captain Sunday Oliseh has opened up about alleged financial injustices that plagued the Nigerian national team during the 2002 World Cup qualifying campaign, claiming that he and other players were denied their deserved bonuses.

Speaking on the Home Turf Podcast, Oliseh recounted how FIFA awarded Nigeria $1 million for qualifying for the 2002 World Cup, an amount the Nigerian Football Federation (NFF) had agreed to split evenly: $500,000 for the players and $500,000 for the federation. According to Oliseh, the players’ share should have been divided among the 30 squad members, roughly $18,000 each.

However, Oliseh alleged a deliberate scheme that prevented him from participating in the tournament, ensuring the players would not receive their bonuses. ‘The only thing was that for the guys to be paid, Sunday Oliseh will have to be in the team, so that they won’t rob them of the money. For that, Sunday Oliseh was eliminated from the team and his assistant,’ he said.

Oliseh added that while the team went on to reach the semi-finals and ultimately finished third, the squad was disbanded immediately afterward, leaving many players uncompensated. ‘Most of the players who went for the World Cup did not even play in the qualifiers. So that means they were not even paid that $500,000. till today I’ve not been paid for qualifying Nigeria,’ Oliseh revealed.

The former midfield also addressed criticisms that he had abandoned the national team. ‘Do you believe a man who has started playing for you since 1993 to make you great will now say in 2002, ‘to hell with you’?’ he asked, emphasizing that he and other senior players had always acted in the team’s best interests.

Coach Eric Sekou Chelle says the Super Eagles will give everything they have to secure a decent win over the Cheetahs of Benin Republic and hope for favour from Nelspruit as the 2026 FIFA World Cup qualifying race hits the final matchday on Tuesday.

Group C leaders Benin Republic, on 17 points, have their fate in their hands as a win over Nigeria at the Godswill Akpabio Stadium will earn them their first-ever FIFA World Cup ticket.

However, Nigeria have not missed two consecutive FIFA World Cup finals since first reaching the finals in 1994, and will throw everything into Tuesday’s battle.

Regardless of their surprising third place in the group going into the final matchday, Nigeria is the only one among the three contenders for the lone ticket from the group that has lost only one match.

Both Benin Republic and second-placed South Africa, who have 15 points and host Rwanda’s Amavubi, have each lost two matches.

No doubt, the Cheetahs, now coached by former Nigeria gaffer Gernot Rohr, have conducted a campaign to be proud of, as they hunt for their first-ever ticket to the global finals.

Their 17 points and two-point cushion at the top means they will live their dream if they secure a point in Uyo on Tuesday evening and South Africa fail to trounce Rwanda at Mbombela.

In contrast, Nigeria is seeking a seventh FIFA World Cup appearance, having made the Round of 16 in three of their previous three, and the spine of the Class of 2025 know this could be their only chance of sitting at world football’s highest podium.

Captain William Ekong and midfielder Alex Iwobi featured at the 2018 FIFA World Cup finals but that was a competition the Super Eagles left at the group stage, and both will surely prefer to experience another tournament with all the glitz and glamour that North America promises next summer.

Ekong, voted Man of the Competition at last year’s Africa Cup of Nations final, is set to win his 83rd cap on Tuesday while Iwobi will earn his 89th.

Top scorer and 2023 Africa Player of the Year, Victor Osimhen, defender Calvin Bassey, midfielders Frank Onyeka and Raphael Onyedika, and forwards Simon Moses, Samuel Chukwueze and Ademola Lookman, among others, have not been to the FIFA World Cup finals.

The Cheetahs have been to only four Africa Cup of Nations finals, as against the Super Eagles’ 20 participations, and their all-time high was a quarter-final berth in Egypt six years ago, compared to Nigeria’s three titles, five runner-up positions and eight third-place finishes.

Both teams will miss a number of key players on Tuesday. Benin Republic’s central defender Yohan Roche and defensive midfielder Sessi d’Almeida are suspended, just as Nigeria’s Africa Player of the Year Lookman, with the six-time finalists also missing wing-backs Olaoluwa Aina and Bright Osayi-Samuel through injuries.

Gernot Rohr and his army will have the backing of Benin Republic’s 11.5million people, just as Nigeria’s 220 million people, including dozens of thousands who will be in the stands, will be cheering on the Super Eagles.

A two-goal win by the Super Eagles, and failure by South Africa to beat Rwanda in Nelspruit, will earn Nigeria an automatic ticket to the 23rd FIFA World Cup finals in the USA, Canada and Mexico next summer.

Hamas has released all 20 living Israeli hostages as part of a landmark prisoner exchange deal with Israel.

The Israel Defense Forces (IDF) confirmed on Monday morning that the hostages had safely crossed back into Israel from Gaza, marking the end of a tense and emotional standoff that has gripped the world for weeks.

According to the IDF, the freed hostages were immediately received by Israeli medical teams for initial evaluation before being flown to hospitals across the country for further treatment and reunification with their families.

Among those released are Alon Ohel, Guy Gilboa-Dalal, and Omri Miran, three of the first hostages to be freed earlier in the day. IDF helicopters airlifted them to hospitals following preliminary medical checks.

Heartwarming images released by the military showed 48-year-old Omri Miran embracing his wife, Lishay, after months of separation. Miran, who was abducted from his home in Nahal Oz during the October 7, 2023, attack, appeared emotional but in stable condition.

In a separate statement, the Israeli foreign ministry confirmed the names of 13 additional hostages released by Hamas, including Elkana Bohbot, Avinatan Or, Yosef-Chaim Ohana, and Bar Kupershtein, who was taken while working at the Nova music festival.

Meanwhile, in Gaza and the West Bank, emotional scenes played out as Israel began releasing Palestinian prisoners and detainees in return. The Palestinian Prisoners’ Information Office reported that the first of 38 buses carrying freed detainees had crossed into Gaza.

The exchange comes as world leaders prepare to meet at an international peace summit in Egypt, where U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu are expected to discuss the next steps toward a lasting ceasefire.

With all living Israeli hostages now free, attention is turning to the fate of the bodies of deceased captives, which Hamas has pledged to hand over later.

Thousands of Palestinians have begun returning to northern Gaza to search for relatives buried under the rubble following Israel’s recent airstrikes and a fragile ceasefire announced on Friday.

Among them is 40-year-old Ghali Khadr from Jabaliya, who found fragments of his parents’ remains after their home was destroyed. ‘My father was strong and fearless,’ he said. ‘All I could recover were parts of their skulls and hands.’

Gaza’s civil defence agency estimates that around 10,000 bodies remain trapped beneath more than 60 million tonnes of rubble across the territory. With roads destroyed and heavy machinery scarce, rescue teams rely on basic tools such as pickaxes and sledgehammers.

‘We’re first collecting corpses in the streets to preserve what’s left,’ said Khaled al-Ayoubi, head of northern Gaza’s civil defence. ‘Stray dogs have been attacking bodies.’

Rescue efforts are slowed by unexploded bombs hidden within the debris. Officials say that if Israel allows the entry of heavy equipment, recovery could take up to a year.

Many residents have taken the search into their own hands. Yahya al-Muqra, 32, has been looking for his brother since an airstrike in July. ‘Even a single bone would let us bury him and find some peace,’ he said.

With cemeteries also destroyed, families are resorting to burying loved ones in home gardens or beside damaged graves.

Civil defence worker Fadi al-Salibi said,

‘Recovering the bodies helps families honour their martyrs and find closure.’

For many in Gaza, the ceasefire offers little relief – only a painful opportunity to dig through ruins in search of those they have lost.

The House of Representatives member representing Sabon Gari Federal Constituency Zaria, Kaduna State. Hon. Sadiq Ango Abdullahi on Monday joined ranks of member of Peoples Democratic Party, PDP who have dumped the party in recent times.

Abdullahi announced his resignation from the party in a letter to the Chairman of PDP in his Hanwa Ward, Sabon Gari Local Government Area on Monday.

In the letter, the lawmaker attributed his decision to dump the PDP to ‘factionalisation’ and ‘prolonged’ crisis within the party.

He said this have affected his ability to serve his people.

He also said he decided to dump the PDP as part of his ‘commitment to continue serving the people of Sabon Gari Federal Constituency beyond partisan lines, ensuring that all constituents benefit from purposeful, inclusive, and effective representation.’

However, Abdullahi did not indicate his new party in the letter.

The letter party reads ‘The persistent internal conflicts and factionalisation within the PDP, which have culminated in a prolonged party crisis, are adversely affecting my ability to effectively represent my constituency and perform my duties optimally.

‘In view of the prevailing situation and after wide consultations with key stakeholders and political associates, I have come to the difficult but necessary decision to resign my membership of the People’s Democratic Party (PDP)

‘This decision is driven by my commitment to continue serving the people of Sabon Gari Federal Constituency beyond partisan lines, ensuring that all constituents benefit from purposeful, inclusive, and effective representation.

‘I wish to sincerely thank the PDP for the privilege and opportunity to serve under its platform. The support, trust, and experiences I have gained during my time with the party have been invaluable, and I remain deeply grateful to the leadership and members at all levels.

Nigerian music star Davido (David Adeleke) and his wife, Chioma Rowland Adeleke, celebrated the second birthday of their twins with a small private party in Atlanta, United States.

The couple, who welcomed their twins in October 2023, hosted close family and friends to a cheerful celebration that included games, colourful decorations, and fun activities for the kids.

Videos shared online by Davido’s logistics manager, Israel DMW, showed happy moments from the event. In his post, Israel wrote: ‘My Oga’s very lowkey two years birthday party for the twins 12/10/2025.’

The party came shortly after Davido gifted Chioma a 2025 Mercedes-Benz G-Wagon and months after their grand white wedding in Miami, which was attended by many top Nigerian and international guests.

Davido and Chioma, who have kept their twins’ faces private, continue to receive love from fans who see them as one of Nigeria’s most admired celebrity couples.

The Federal Competition and Consumer Protection Commission (FCCPC) has praised the Central Bank of Nigeria’s (CBN) draft directive mandating all banks to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours.

In a statement issued Monday and signed by the FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, the Commission described the CBN’s proposed guideline as a ‘timely and long-overdue intervention’ that directly addresses long-standing consumer complaints in the banking sector.

The CBN’s draft guidelines, released last week, come shortly after the FCCPC published its Consumer Complaints Data Report (March-August 2025), which revealed that the banking and fintech sectors accounted for the highest volume of complaints nationwide, over 3,000 complaints involving failed transactions, unauthorized deductions, and refund delays.

According to the FCCPC, over ?10 billion was recovered for consumers across 30 sectors within that period. The Commission said the CBN’s proposed rules align with several provisions of the Federal Competition and Consumer Protection Act 2018, especially those aimed at promoting fair practices, safeguarding consumer interests, and ensuring reliable service delivery.

FCCPC Executive Vice Chairman, Tunji Bello, lauded the CBN’s move as ‘a decisive step that will ease the burden on consumers and rebuild trust in financial services.’

Bello noted that the guideline reflects growing collaboration between regulatory bodies and demonstrates shared commitment to consumer protection, especially in the face of increasing dependence on electronic payments.

To ensure compliance, the FCCPC announced plans to work with the CBN to establish a monitoring and enforcement framework, ensuring banks adhere strictly to the 48-hour refund rule. Consumers dissatisfied with banks’ handling of failed transactions will also be able to escalate cases to the FCCPC through its Complaints Portal (complaints.fccpc.gov.ng), email, or hotline.

The FCCPC stressed that early adoption of the guidelines will offer immediate relief to affected customers and enhance confidence in Nigeria’s digital economy, which now includes over 200 million cardholders.

Stakeholders are invited to submit feedback before the final adoption of the guidelines, which could take effect before the end of the year.

Benin Republic coach, Gernot Rohr

has explained the tactics his team will use against the Super Eagles of Nigeria in their World Cup qualifier on Tuesday.

Rohr, who once coached Nigeria, said his team would remain calm, focused, and composed, even though they expect a difficult atmosphere at the Godswill Akpabio International Stadium in Uyo.

Benin currently lead Group C with 17 points, followed by South Africa (15 points) and Nigeria (14 points).

They only need a draw to keep their qualification hopes alive.

Speaking to Goal, Rohr said:

‘Yes, the atmosphere can be hostile, but we’ll stay calm and focused. We plan to keep possession of the ball, defend well, and use quick counterattacks. That’s our game plan for Uyo.’

The Cheetahs arrived in Uyo on Saturday after their 1-0 victory over Rwanda on Friday.