THURSDAY 31TH DECEMBER 2020

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NSE Leads Global Stock Market in Performance Heads for best annual return in seven years Goddy Egene The Nigerian Stock Exchange (NSE) All-Share Index is closing 2020 as the best performing, recording a

growth of 47.2 per cent a day to end of the year. The return, which is the highest annual growth since 2013, is the most among 93 equity indexes tracked by Bloomberg.

The NSE ASI, which opened the year at 26,842.07 soared to 39,512.31 as at Wednesday, while market capitalisation jumped from N12.969 trillion to N20.66 trillion. The

Nigerian equities market has been riding on low yields in the fixed income market and renewed interest by domestic investors to outperform other global markets.

Significant portion of the growth has been recorded in December with the market appreciating 12.8 per cent as investors’ appetite for riskier assets remained strong due

to persistent low yield on fixed-income instruments. Besides, bellwether, Dangote Cement Plc, has attracted high Continued on page 8

FG Targets 100 Isolation Centres, 400 PHCs in New Electrification Drive... Page 6 Thursday 31 December, 2020 Vol 25. No 9397. Price: N250

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Restrictions on Crossover Vigils Stay, Lagos, Ogun Insist Oyo bows to pressure, relaxes regulations Redeemed Church, MFM, Winners' Chapel, others adjust programmes Segun James in Lagos, Olawale Ajimotokan in Abuja and James Sowole in Akure The Lagos State and Ogun State governments have rebuffed pressures from churches to relax restrictions introduced to curb the spread of COVID-19 infections so they could hold crossover vigils today to usher in the New

Year. The two states, with a high concentration of headquarters of churches in the country, insisted that the 12am-4am curfew introduced by the federal government, as part of measures to combat COVID-19 remains in place. They warned that dire consequences await Continued on page 8

Following Court Order, NAICOM Stops Insurers’ Recapitalisation Reprieve for firms as deadline expires today Goddy Egene and Ebere Nwoji in Lagos and James Emejo in Abuja Insurance companies yesterday got a breather in their efforts to recapitalise their businesses as the National Insurance Commission (NAICOM) yesterday announced the suspension of the exercise,

whose deadline expires today. The commission cited the need to obey the December 21 restrained order by Justice C. J. Aneke of the Lagos Division of the Federal High Court, for its decision. The commission had directed insurance firms to Continued on page 8

RITES OF PASSAGE FOR NSOFOR.... L-R: Mr. Cross Nsofor, son of the immediate-past Ambassador of Nigeria to the United States, Justice Sylvanus Nsofor; the widow, Mrs Jean Nsofor; and the Charge D’Affaires, Nigerian Embassy, Washington D.C., Mrs Jane Adams, at a service of songs in honour of the late ambassador, in Washington... Tuesday

Again, Troops, ISWAP in Fierce Gunfight in Borno... Page 5


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