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Nike Popoola
Published 15 March 2021
Despite the fact that it is mandatory for all vehicles to have a minimum of third party motor insurance certificates, there has been a decline in the number of vehicles with genuine insurance certificates on Nigerian roads,
NIKE POPOOLA reports
The number of vehicles with fake certificates on Nigerian roads rose to 9.04 million according to latest figures obtained by our correspondent.
Figures obtained from the Nigerian Insurers Association revealed that only 2.72 million vehicles on Nigerian roads had valid insurance covers as of February.
Also, latest data from the National Bureau of Statistics estimated Nigeria’s vehicle population at 11.76 million.
Market Declines Further as Investors Ignore Companies Results thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
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’Femi Asu
The Nigerian stock market, which began the month on a positive note, resumed its decline on Tuesday as 26 firms recorded price losses at the end of trading.
The Nigerian Stock Exchange All-Share Index had risen by 0.33 per cent after investors on Monday, the first trading day of the month, after February saw investors record a total loss of N1.37tn.
But the benchmark index, ASI, fell by 0.59 per cent on Tuesday to 39,697.62 basis points from 39,931.63bps on Monday.
The market capitalisation of equities dropped by N120bn to close at N20.77tn on Tuesday from N20.89tn on Monday.
Stocks fall further, market cap drops below N21tn punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
By Goddy Egene
The bears returned to the local bourse yesterday pulling, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) down by 0.19 per cent to close at 40,494.35. The market had opened for the week on positive note after two weeks of decline, raising hopes that the bargain hunting could be sustained.
However, sell-offs in Stanbic IBTC Holdings Plc, Nigerian Breweries Plc and Zenith Bank Plc, FBN Holdings Plc, Access Bank Plc, among others led to a negative close. A total of 20 stocks depreciated as against 22 stocks that appreciated.
The top of the gainers’ table was dominated by insurance stocks led by Cornerstone Insurance Plc shed 10 per cent. Consolidated Hallmark Insurance Plc trailed with 9.5 per cent, just as Prestige Assurance Plc and Coronation Insurance Plc went down by 8.5 per cent and 8.3 per cent respectively.