Stock Market Loses N113bn as Investor Confidence Dampens Goddy Egene and Chris Uba The stock market lost N113 billion yesterday as investors’ appetite, which has been high for days became dampened due to the tensed security situation in the country. The market had remained
stable since Monday with marginal gains following profit taking after weeks of a bull run. However, investors reduced their demand for equities yesterday as they reacted to the prevailing security situation after some #EndSARS
protesters at Lekki Tollgate, Lagos were shot by the military on Tuesday. The Nigerian Stock Exchange (NSE) All-Share Index declined by 0.75 per cent from 28.665.82 to 28,449.49, while market capitalisation shed N113 billion from N14.983
trillion to N14.870 trillion. Market operators said most investors were showing more concern about their safety first before thinking of investing. According to a stockbroker, most people are monitoring the environment and watching how the government will
handle the situation, rather than in investing. Also, the Nigerian Employers’ Consultative Association (NECA) has reiterated that the protests will negatively impact on the economy. The Director-General of
NECA, Mr. Timothy Olawale, told THISDAY that “protest is legal and a fundamentally guaranteed right of Nigerians to draw government’s attention to the need to take drastic action as regards reforms in Continued on page 8
Bandits Slay 20 in Fresh Killings in Zamfara... Page 5 Thursday 22 October, 2020 Vol 25. No 9327. Price: N250
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Hoodlums Take over Lagos, Torch Public, Private Assets Sanwo-Olu apologises, sues for peace Our Correspondents Despite the 24-hour curfew imposed by the Lagos State Governor, Mr. BabajideSanwo-Olu, to curb the spread of violence arising from the #EndSARS protests,
hoodlums still took over the state yesterday, unleashing mayhem, and burning public and private assets. Sanwo-Olu, however, apologised for the action of the soldiers that fatally dispersed Lekki protesters
Enugu, Ebonyi, Rivers declare curfew
on Tuesday, clarifying that no state governor in the country controls the rules of engagement of the military, blaming forces beyond his control for the violent crackdown. More violence also erupted
yesterday in Ebonyi, Ondo, Kano, Edo, Osun, Rivers, and Enugu states. Following the increasing violence in their states, Governors Dave Umahi of Ebonyi State, Nyesom Wike of Rivers State, and Ifeanyi
Ugwuanyi of Enugu State imposed a curfew to curb the spread of mayhem unleashed by hoodlums. As hoodlums took over Lagos yesterday, some of the facilities affected include the Nigerian Ports Authority
(NPA) headquarters in, which was set ablaze; Sanwo-Olu’s family home; BRT terminals at Oyingbo and Berger; Lagos Television (LTV); Television Continental (TVC); and The Continued on page 7
Crackdown on Protesters Premature, Obasanjo, Atiku, Soyinka tell Buhari Guterres, Clinton, Biden, Akufo-Addo, others call for restraint Presidency urges calm DHQ mum, speaks today Kingsley Nweze, Chuks Okocha, Adedayo Akinwale, Udora Orizu in Abuja, Chiemelie Ezeobi in Lagos, Kayode Fasua in Abeokuta and Yinka Kolawole in Osogbo Eminent personalities, including former President Olusegun Obasanjo; former Vice President Atiku Abubakar, and Nobel laureate, Prof. Wole Soyinka, yesterday faulted Tuesday’s military crackdown on unarmed protesters at the Lekki Tollgate, Lagos, describing it as premature. The incident also elicited reactions from the United Nations Secretary-General, Mr. António Guterres; a former
United States President, Mr. Bill Clinton; former US Vice President, Mr. Joe Biden; United Kingdom’s Secretary of State for Foreign, Commonwealth and Development Affairs, Mr. Dominic Raab; President Nana Akufo-Addo of Ghana; the Archbishop of Canterbury, Justin Welby; the European Union, and the Ooni of Ife, Oba Adeyeye Ogunwusi. They expressed concern about the shooting of the protesters and called for restraint. However, while the Defence Headquarters (DHQ) remained mum but has promised to brief Continued on page 7
FACE OF RAGE... BRT buses set ablaze by hoodlums in Berger, Lagos… yesterday