NaijaWire

Nigerian stocks recover with N904bn capital gain

Lagos - Some relief came the way of investors last week after eight months of losses, pains and anxiety following the persistent fall in share prices in the Nigerian stock market.

The bear run had depressed the stock market by 41 per cent (or N5.2 trillion) from a peak of N12.6 trillion between March 5 and November 5, 2008. However, stability crept into the market on November 6. And at the close of trading last Friday, the market had regained N904 billion (or 17 per cent) of the lost value. The market capitalization, which hit a record low of N7.405 trillion on November 5, appreciated to close at N8.309 trillion last Friday, following the recovery witnessed by the prices of many equities.

Oyedepo - Shiloh 2008 conference to hold Dec 9 -13

Sango-Ota (Ogun State) - The Living Faith Church Worldwide aka Winners Chapel, under the leadership of Bishop David Oyedepo, has announced that the 2008 Shiloh conference will hold from December 9 to 13, 2008. Christened ‘Manifestation of the Sons of God,’ this year’s Shiloh, the tenth in the series, has a great spiritual significance because the number ten, among others, connotes the end of a season and the beginning of a new one.

Pastor Adeboye endured “419″ humilation

Lagos -General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adejare Adeboye has given details of a humiliating experience he was once subjected to at an international airport while visiting a foreign country.

The respected cleric narrated how he was given a thorough search at the airport as soon as he tendered his Nigerian passport, saying the immigration officials became more suspicious of him when he claimed to be a pastor from Nigeria.

Pastor Adeboye, who spoke with a team from Zero Corruption, a magazine published by the Economic and Financial Crimes Commission (EFCC), lamented that corruption has virtually destroyed the image of Nigerians outside the country, regretting that most foreigners now regard all Nigerians as fraudsters.

UK tightens visa rules

Abuja -The United Kingdom has revealed new stricter rules to safeguard the visitor route into the country from abuse and keep Britain an attractive place for business.

This comes at the heels of Minister of Labour and Productivity, Dr Hassan Lawal, asking developed countries to relax  conditions for the issuance of visas, to ease  problems encountered by  Nigerians wishing to travel abroad.

According to a statement released by the British High Commission in Abuja, yesterday, these tough rules were published by the British Government and it states “that those wishing to come to the UK on business for up to six months must apply for a dedicated new business visa.”

GCI turns 80, to get much needed facelift

Ibadan - Government College Ibadan (GCI), a school built on the rocks and is the pride of many Nigerians home and abroad, will soon undergo a much needed facelift according to old boys of the famous Nigerian secondary school, based in Apata Ganga, Ibadan.

The Chairman of Stabillini Visnioni Nigeria Limited, Dr. Wale Babalakin, and other old students of the GCI, made this resolution to rehabilitate the dilapidating structures of the 79-year-old school.

Babalakin, who spoke with our correspondent after he received a merit award from his Alma Mata on Saturday in Ibadan, lamented the deplorable condition of infrastructure in the school and pledged to work with others to address the situation.