The Merchants Times Newspaper February 9 2021 - CBN declares war on digital currencies - Eunice Ayobami Flipbook PDF

In a statement released by Osita Nwanisobi Ag. Director, Corporate Communications. CBN, Nigerian youths rebuffed in no u

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Vol. 2, No 41 Tuesday February 09, 2020 | TUESDAY BROADSHEET NEWSPAPER

The

www.merchantstimes.com | N500

erchants

Times

A financial Catalyst for the African Ecosystem! Research on market relevant to business owners, economists, financiers, or public policymakers.

Freedom is not just the birthright of the few

INSIDE PAGES

NATIONAL NEWS

Stock Market Report Top 5 Trades Sunday 05th February 2021 ASI 41,709.09 DEALS 5,998.00 VOLUME 482,186,192.00 VALUE N5,579,658,812.25 EQUITY CAP N21,818,553,085,491.44

CBN declares war on digital currencies!

BOND CAP N17,256,170,270,936.80 ETF CAP N0.00

Military coups in Africa, revolution or reaction?

Eunice Ayobami PHOTO: GETTY IMAGE

Myanmar protesters marches By: Oluwatobi Ogidiolu

illegal. Protesters against the Myanmar mil itary coup rallied on Tuesday in the country’s two biggest cities, defying a ban on gatherings of more than five

E-mail: [email protected]

Demonstrators have taken to the streets in Myanmar in defiance of new rules imposed bythe military junta that make their protests

people. Demonstratorswantpower restored to the deposed civilian government and freedom for the nation’s de facto leader Aung San Suu Kyi and her al-

NEWS

lies. Coup leaders issued decrees on Monday night that banned gatherings of more than five people in parts of Yangon and Mandalay. Thousands of people

The privileged class have dug its own grave by creating inequality which gives birth of to the inevitable existence of the proletarians and the Aina Ademola

Oil & Oils as essential commodities

FOREIGN NEWS

Germany expels Russian diplomat By: Eunice Ayobami

Germany has declared a Russian diplomat “persona non grata” in response to Moscow’s expulsion of EU diplomats last week. Poland and Sweden have made similar announcements. Germany, Poland and Sweden on Monday expelled Russian diplomats in their countries in response to a similar

move by Moscow last week. Germany declared a member of Russian embassy in Berlin a “persona non grata.” “The Federal Foreign Office today declared ‘persona non grata’ an employee of the Russian embassy in Berlin,” the Foreign Ministry said in a statement. “Russia ex-

HEALTH NEWS

In every part of the world, essential commodities are commodities that we can’t do without as a family, individual or a group. They are commodities that are extremely imported livelihood. In this part of the world, we see food

Man City still keen on Barcelona legend

ENTERAINMENT BUZZ

Stop the abuse Oluwarotimi Desire

Day in day out, the media is always flooded with a series of bad news that has to do with abuse. These inci-

Danmole Zainab

dents have done nothing but damage to us. It has made me question the love we claim to have for ourselves.

Former Kenya’s Afc Leopards star Jonas now established musician Once known for his towering frame and prowess playing as defender for AFC Leopards, Jonas Nahimana alias J Pako is looking to make a mark in music. The left footed Congolese played for Kenyan Premier League sides AFC Leopards and Sofapaka before retiring to pursue his other passion, music. According to the artist and promoter, music has always been a part of his life and he naturally turned to it after hanging up his boots in 2017

His contract in Catalonia expires at the end of June, and Messi is finally set to depart Barcelona shortly after his 34th birthday unless the LaLiga giants can somehow convince him to sign a new deal. While

Freedom is not just the birthright of the few... Oluwatobi Ogidiolu

PHOTO: PINTEREST

URBAN T U E S D AY PA P E R

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The

erchants

Times

The Merchants Times Editorial Board Vol. 2, No 41 WWW.MERCHANTSTIMES.COM

FREEDOM IS NOT JUST THE BIRTHRIGHT OF THE FEW N500

TUESDAY, FEBRUARY 09, 2021

Chairman/Editor-in-chief Oluwatobi Ogidiolu Deputy Editorial Page Damilare Ojo Managing Editor Emmanuel Akindoyin Associate Editor Eunice Ayobami Creatives Poet Tobias Writer Aina Ademola Esan Bisola Vincent Mutuma (Kenya) Casmire Okedinachi Oluwarotimi Desire Michael Akpanebe Clever Macualay Adefolakemi Ojo Nwaka Philip

The

erchants

Times

The Merchants Times publication board is proud to have resilient journalism who depend on accuracy in reports and research to arrive at a common perspective on significant issues. The board does represent Merchants Times and hold free journalism dear to heart. Amidst politics, dark democracy and Military oppression hat's ravaging Africa, The Merchants Times is saddled with responsibility from the people to inform the public on the happenings at the top of the pyramids (Government Houses, Industries, Religious Centers & NGO's), only with a clear conscience. The board contends for a world that is both free and fair, where people can exercise their rights without any form of discrimination or segregation. As Richard puts it, “Every time a newspaper dies, even a bad one, the country moves a little closer to authoritarianism…” Richard Kluger, Our quest is to serve as an example for a continent that demands a free press void of political tyranny or corruption from the religious sector. We do not want to be sponsored by corruptible Africans or deepens the wool of journalism into the corrupt oil. As the sun rises, we rise, as it sets we oil the lamp and set up for fire for Nations and the continent to be seen as bare as it ought to be. We are Merchants!

TUESDAY, FEBRUARY 09 2021 |

PG 5

Editorial Oluwatobi Ogidiolu | Editor-In-Chief

“Every time a newspaper dies, even a bad one, the country moves a little closer to authoritarianism…” Richard Kluger

Many youths queried, What’s the essence of Cryptocurrency ban In a statement released by Osita Nwanisobi Ag. Director, Corporate Communications. CBN, Nigerian youths rebuffed in no uncertain terms. They believed the Federal Government is sailing backwards and Cryptocurrency ban it is not in the best interest of the Nation. What are the woes behind cryptocurrency in Nigeria and why did Central Bank of Nigeria made this decision. Read the full statement below and let us know what you think.

Response to Regula-

that there appears to

phy. Cryptography is a

ment, it is important

tory Directive on Cryp-

be a need to provide

method of encrypting

to clarify that the CBN

tocurrencies The at-

further justifications

and hiding codes that

circular of

tention of the Cen-

about our position, es-

prevent oversight, ac-

5, 2021 did not place

tral Bank of Nigeria

pecially to the gener-

countability, and regu-

any new restrictions

(CBN) has been drawn

al public.

lation. While there are a

on cryptocurrencies,

to various comments

For those who are not

number of cryptocur-

given that all banks in

and reactions follow-

conversant with the

rencies now in circu-

the country had ear-

ing our recent remind-

universe of cryptocur-

lation, Bitcoin was the

lier been forbidden,

er to Deposit Money

rencies, it is important

first to be introduced

through CBN’s circu-

Banks (DMBs) to de-

to state that Crypto-

in 2009, and now ac-

lar dated January 12,

sist from transacting

currencies are digital

counts for about 68

2017, not to use, hold,

in / and with entities

or virtual currencies is-

percent of all crypto-

trade and/or transact

dealing in cryptocur-

sued by largely anony-

currencies.

in cryptocurrencies .

rencies. Most of these

mous entities and se-

As regards our recent

Indeed, this position

reactions reveal

cured by cryptogra-

policy

was

pronounce-

February

Editorial

TUESDAY, FEBRUARY 09 2021 | PG 6

reiterated in another

institution and do not

record high of $42,000

tocurrencies have be-

CBN

hold any legal sta-

per unit on January 8,

come well-suited for

tus that can make

2021, and sank as low

conducting many

2018.

them equivalent to

as $28,800 about two

illegal activities includ-

It is also important to

money. Hence banks

weeks later. This is far

ing money launder-

note that the CBN’s po-

and all stakeholders

greater volatility than

ing, terrorism financ-

sition on cryptocurren-

are strongly advised

is found with normal

ing, purchase of small

cies is not an outlier as

against their use as a

currencies.

arms and light weap-

many countries, cen-

currency.

Let us

now turn to

ons, and tax evasion. In-

tral banks, internation-

Even

inves-

some of the justifica-

deed, many banks and

al financial institutions,

tor

Buffett

tions for CBN’s recent

investors who place a

and distinguished in-

has called cryptocur-

policy reminder. A per-

high value on reputa-

vestors

rencies

poison

functory reflection on

tion have been turned

mists have also warned

squared," a "mirage,"

the definition of cryp-

off from cryptocurren-

against its use. They

and a "gambling de-

tocurrencies can al-

cies because of the

have all made similar

vice." Mr. Buffett be-

ready reveal several

damaging effects

pronouncements

lieves it is a “gambling

problems.

of the widespread use

based of the signifi-

device” given

that

First, in light of the fact

of

cant risks that trans-

they are mostly valu-

that they are issued by

for illegal activities. In

acting in cryptocurren-

able because the per-

unregulated and unli-

fact, the role of crypto-

cies portendrisk of loss

son buying it does so,

censed entities, their

currencies in the pur-

of investments, money

not as a means of pay-

use in Nigeria goes

chase of hard and ille-

laundering, terrorism

ment; but in the hope

against the key man-

gal drugs on the dark-

financing, illicit fund

they can sell it for even

dates of the CBN, as

net website called “Silk

flows and criminal ac-

more than what they

enshrined in the CBN

Road” is well known.

tivities. China, Cana-

paid at some point.

Act (2007), as the issu-

They have also been

da, Taiwan, Indonesia,

During an online fo-

er of legal tender in Ni-

recent

Algeria, Egypt, Moroc-

rum hosted by the

geria. In effect, the use

cryptocurrencies have

co, Bolivia, Kyrgyzstan,

Davos-based

of

cryptocurrencies

been used to finance

Ecuador, Saudi Arabia,

Economic Forum few

in Nigeria are a direct

terror plots, further

Jordan, Iran, Bangla-

weeks ago, Andrew

contravention of exist-

damaging its image

desh, Nepal and Cam-

Bailey, the Governor

ing law. It is also impor-

as a legitimate means

bodia have all

of the Bank of Eng-

tant to highlight that

of exchange.

placed certain level of

land, highlighted the

there is a critical differ-

More

restrictions on finan-

extreme price volatili-

ence between a Cen-

ed and recent evi-

cial institutions facili-

ty of cryptocurrencies

tral Bank issued Digi-

dence now suggests

tating cryptocurrency

as one of the biggest

tal Currency and cryp-

that some cryptocur-

transactions.

flaws and explained

tocurrencies. As the

rencies have become

2 In China, for example,

that this flaw makes it

names imply, while

more widely used as

cryptocurrencies are

impossible for them

Central Banks can is-

speculative

completely

to be used as a lasting

sue Digital Currencies,

rather than as means of

means of payment.

cryptocurrencies are

payment, thus explain-

closed as well. Banks

“Have we landed on

issued by unknown

ing the significant vol-

and other financial in-

what I would call the

and unregulated enti-

atility and variability in

stitutions are not al-

design,

ties.

their prices. Because

lowed by law to trans-

and arrangements for

3 Second, the very

the total number of Bit-

act or deal with

what I might call a last-

name and nature of

coins that would ever

cryptocurrencies. Chi-

ing digital currency?

“c r y p to c u rre n c i e s ”

be issued is fixed (on-

na’s

Bank,

No, I don’t think we’re

suggests that its pa-

ly 21 million will ever be

Peoples

there yet, honestly. I

trons and users value

created), new issuanc-

Bank of China (PBoC)

don’t think cryptocur-

anonymity, obscurity,

es are predetermined

has provided several di-

rencies as originally

and concealment. The

at a gradually decel-

rectives ruling out the

formulated are it,” he

question that one may

erating pace. This lim-

use of these currencies.

said.

need to ask therefore is,

ited supply has creat-

The PBOC views

It is not surprising he

why any entity would

ed a perverse incentive

cryptocurrencies as il-

would take that posi-

disguise its transac-

that encourages users

legal because they are

tion because, Bitcoin,

tions if they were le-

to stockpile them in the

not issued by any rec-

the best-known

gal. It is on the basis of

hope that their

ognized monetary

cryptocurrency, hit a

this opacity that cryp-

prices rise. Unfortu-

Press

dated

and

called

Release

February

and

all

27,

econo-

banned

exchanges

Central the

famed Warren "rat

World

governance

cryptocurrencies

reports

also,

that

repeat-

assets

Editorial

TUESDAY, FEBRUARY 09 2021 | PG 7

nately, with a conglom-

demand 4 and price.

direct jobs for teeming

mented to further sup-

eration of desperate,

But since new ver-

youth population.

port FinTech develop-

disparate, and unregu-

sions of cryptocurren-

The innovations in Ni-

ment and creation of

lated actors comes un-

cies come on stream

geria’s payment sys-

jobs. These include reg-

precedented price vol-

with new mathemati-

tem were catalyzed

ulatory sandbox and

atility that have threat-

cal models, an infinite

by regulatory reforms

open banking princi-

ened

sophis-

supply may someday

driven by

ples that the Bank re-

ticated financial sys-

crash the price to zero

the CBN which en-

cently implemented.

tems. In fact, the price

At this juncture, the

tailed the issuance of a

The recent regulatory

of ether, one of the larg-

CBN would like to as-

raft of guidelines and

directive became nec-

est

cryptocurrencies

sert that our actions

regulations on Oper-

essary to protect the fi-

in the world, fell from

are not in any way,

ations of Electronic

nancial system and the

US$320 to US$0.10 in

shape or form inimical-

Payments

Channels

generality of Nigerians

June 2017. The price of

to the development of

in Nigeria; Transaction

(including the youth

Bitcoins has also suf-

FinTech or a technol-

Switching; Card Issu-

population) from the

fered similar volatili-

ogy-driven

payment

ance and Usage, Li-

risks inherent in cryp-

ties.Given that unlike

system. To the contrary,

censing of payment

to assets transactions,

Fiat Money which ac-

the Nigerian payment

service providers; Mo-

which have escalated

companied by full faith

system

evolved

bile Money Services,

in recent times, with

and comfort of a coun-

significantly over the

Electronic Payments

dire consequences for

try or Central Bank,

last decade, leapfrog-

of Salaries, Pensions,

the integrity of the fi-

cryptocurrencies

do

ging many of its coun-

Suppliers and Taxes, Li-

nancial system and fi-

not have any intrinsic

terparts in emerging,

censing Super Agents

nancial stability. Due

value and do not gen-

frontier and advanced

in Nigeria; and use of

to the fact that cryp-

erate returns by them-

economies propelled

USSD for Financial Ser-

tocurrencies are large-

selves. When one buys

by reforms driven by

vices in Nigeria, Su-

ly speculative, anony-

a stock, say of a con-

the CBN. This is evi-

per Agents and Agent

mous and untraceable

glomerate in the Nige-

dent from the variety

Banking

Operations

they are increasingly

ria Stock Exchange, its

of participants, prod-

and Payment Service

being used for mon-

price reflects the ac-

ucts,

Banks to mention a

ey laundering, terror-

tivity and production

ting-edge technology

few.

ism financing and oth-

of that conglomerate

in the payments sys-

The robust regulatory

er criminal activities.

and the value people

tem. It is also validat-

framework put in place

Small retail and unso-

place on their goods

ed by the astronomical

by the Bank opened up

phisticated investors

and/or services. This

growth of volume/val-

the payment system to

also face high proba-

price may rise as the

ue of transactions and

innovation with sever-

bility of loss due to the

conglomerate produc-

the fact that Nigeria is

al new players across in

high volatility of the in-

es better goods/servic-

an investment destina-

the following licensing

vestments in recent

es and probably gains

tion of choice for inter-

categories- Payment

times.

greater market share.

national financial tech-

Terminal Service Pro-

In light of these reali-

The reverse would be

nology companies be-

viders (PTSPs), Pay-

ties and analyses, the

true if the conglomer-

cause of CBN’s poli-

ment Solution Ser-

CBN has no comfort

ate does not innovate

cies that have creat-

vice Providers (PSSPs),

in cryptocurrencies at

to improve the quali-

ed an enabling invest-

Mobile Money Oper-

this time and will con-

ty of its goods/servic-

ment environment in

ators

Pay-

tinue to do all within

es. In other words, the

the payments system.

ment Terminal Ap-

its regulatory powers

price of that stock re-

These developments

plication Developers

to educate Nigerians

flects market funda-

in the payments and

(PTSAs), Switches, Su-

to desist from its use

mentals. In contrast,

settlements space has

per Agents, Agents

and protect our finan-

cryptocurrencies

do

helped to grow the fi-

and Payment Service

cial system from activ-

not have fundamen-

nancial system, im-

Banks (PSBs) This has

ities of fraudsters and

tals and would never

proving financial in-

created both direct

speculators..

have fundamentals. In-

clusion, the quality and

and indirect jobs for

vestors only buy in the

convenience of finan-

Nigeria’s youth popu-

hope that its use and

cial services and

lation.

acceptability will rise,

has also created mil-

5 Several other initia-

thereby pushing up its

lions of direct and in-

tives are being imple-

many

has

channels,

cut-

(MMOs),

News Watch

TUESDAY, FEBRUARY 09 2021 | PG 8

Myanmar protesters march despite ban on gatherings

Photo: Google

Demonstrators have taken to the streets in Myanmar in defiance of new rules imposed by the military junta that make their protests illegal. Protesters against the Myanmar military coup rallied on Tuesday in the country’s two biggest cities, defying a ban on gatherings of more than five people. Demonstrators want power restored to the deposed civilian government and freedom for the nation’s de facto leader Aung San Suu Kyi and her allies. Coup leaders issued decrees on Monday night that banned gatherings of more

than five people in parts of Yangon and Mandalay. Thousands of people have been demonstrating in both places since Saturday. According to the Reuters news agency, security forces arrested at least 27 people in the latest protests. The legislation bans gatherings of more than five people and imposes an 8 p.m. to 4 a.m. curfew. Yangon is Myanmar’s largest city, with Mandalay second. It is not immediately clear if decrees have been imposed for other areas. Photos circulating online showed police in the capital, Nay-

pyidaw, used water cannon against protesters. People in the crowd chanted “End the military dictatorship” as the water cannon was fired. Protesters want power restored to the deposed elected government and freedom for Suu Kyi. The military detained her and other members of her National League for Democracy (NLD) when it blocked a new session of parliament from convening on February Junta chief General Min Aung Hlaing made a televised speech on Monday evening in an effort to justify the coup.

In his address, he insisted the power grab was justified because of “voter fraud”. Government employees, doctors and teachers are among those have joined a call for civil disobedience and strikes. The 75-year-old Suu Kyi has been held incommunicado since the coup and is being held in police detention until February 15. She faces charges of illegally importing six walkie-talkies. While the NLD won the November national elections by a landslide, the military never accepted the legitimacy of the vote.

News Watch

TUESDAY, FEBRUARY 09 2021 | PG9

Germany expels Russian diplomat in tit-for-tat move

Germany has declared a Russian diplomat “persona non grata” in response to Moscow’s expulsion of EU diplomats last week. Poland and Sweden have made similar announcements. Germany, Poland and Sweden on Monday expelled Russian diplomats in their countries in response to a similar move by Moscow last week. Germany declared a member of Russian embassy in Berlin a “persona non grata.” “The Federal Foreign Office today declared ‘persona non grata’ an employee of the Russian embassy in Berlin,” the Foreign Ministry said in a statement. “Russia expelled several EU diplomats, including one at the German embassy. This decision was not justified in any way.” “The German diplomat was merely carrying out his task of reporting on developments on the spot

in a legal fashion,” the ministry added.Sweden, Poland expel Russians Sweden informed Russia that a Russian embassy staff member would be asked to leave Sweden. “This is a clear response to the unacceptable decision to expel a Swedish diplomat who was only performing his duties,” Foreign Minister Ann Linde tweeted. Moscow calls expulsions ‘unfounded’ Moscow hit back at the expulsions, calling the decision “unfounded.” “Today’s decisions by Poland, Germany and Sweden are unfounded, unfriendly and are a continuation of the very series of actions that the West is taking with regard to our country and which we qualify as interference in our internal affairs,” Russian foreign ministry spokeswoman Maria Zakharova said on state channel Rossya 1. Russia said that the

diplomats that it expelled had participated in a demonstration in support of jailed Kremlin critic Alexei Navalny. Berlin, Stockholm and Warsaw reject the allegations, saying their representatives were at the protests as observers, not participants. Reports on Russian state TV presented the expelled diplomats as criminals, broadcasting surveillance footage of the protests with the diplomats’ faces encircled, together with their full names and functions. “The Russian side has made it clear that it does not intend to tolerate such a thing,” Kremlin spokesman Dmitry Peskov told the Interfax agency. EU considers Moscow sanctions. Ties between Russia and the EU have taken a dive in recent weeks, over Navalny’s arrest andjailing,whichhas sparked nationwide

opposition protests. EU Commission chief Josep Borrell is expected to meet with foreign ministers from the 27 EU states on February 22 to mull new sanctions against Moscow. The move would require a unanimous vote among EU members. Russia’s decision on Friday also came as Borrell was meeting with Russian Foreign Minister Sergey Lavrov. Borrell said he learned about the expulsions on social media. “The messages sent by Russian authorities during this visit confirmed that Europe and Russia are drifting apart,” Borrell wrote in a blog on his return to Brussels. “It seems that Russia is progressively disconnecting itself from Europe and looking at democratic values as an existential threat.”

TUESDAY, FEBRUARY 09 2021 | PG 10

Africa Renaissance AINA ADEMOLA [email protected] OgbeniDemola

Afro-Marxism

There’s a vicious brotherhood between the national privileged class and the metropolitan ruling class, the initial is a junior oppressor while the latter is a senior overlord; they work hand in hand, they have the same goal and objective, to kill, steal and destroy. The privileged class have dug its own grave by creating inequality which gives birth of to the inevitable existence of the proletarians and the working class who by a rising tide of revolt will in the last resort violently overthrow the privileged ruling class and replace it with

a Marxist egalitarian political machine. Africa and African people are suffering from extreme capitalism, foreign capitalist-imperialist domination and National bourgeoisie oppression. There’s a vicious brotherhood between the national privileged class and the metro-

politan ruling class, the initial is a junior oppressor while the latter is a senior overlord; they work hand in hand, they have the same goal and objective, to kill, steal and destroy. Feudalism is a refined form of slavery just as capitalism is a refined form of the feudal politi-

cal epoch, the capitalist class is refined form of slavery that has subjected black people to reactionary national and metropolitan capitalist oppression and exploitation by the creation of laws and bourgeois policies that only applies to the peasants and lowly masses.

Africa Rennaisance

TUESDAY, FEBRUARY 09 2021 | PG 11

Marxism Why do we need Afro Marxism?

After clearly pointing out the local and internal oppression Black people face, it's now evident that we can never fight capitalism with capitalism, we can only fight capitalism with Marxism. Black people aren’t individualistic people, Black people are a communal people, we practised a political and economic system of egalitarianism where the means of production wasn’t owned and controlled by a few ruling class, the means of production was controlled by the community and the wealth emanating from it was equally owned by the community and the people, the white with his urge to exploit African resources and labour came with the vicious ideology of capitalism-individualism,

he usurped the communal land and resources from the indigenous African people and set up industries, the black man who couldn’t make ends meet after the means of survival was taken away from him was forced to sell his labor to the vicious racist white man, who in return turned his labor into capital and creating social stratification that never existed in Africa, he created the bourgeois class, the petty-bourgeois class and the peasantry, he divided African people into classes and brought about class antagonism, he destroyed the African communal system and replaced it with a capitalist contraption. The indigenous African bourgeoisie, petty-bourgeois and intellectual class naturally went along with

the white man and became the political and economic enemy of their people, after a rising tide of the African peasants that led to the destruction of the colonial regime, the African bourgeois and petty-bourgeois still maintain a close relationship with his colonial colleague and this is what hitherto have subjected African people today to dual exploitation, up till today African people still do not control their resources because the bourgeoisie and petty bourgeoisie class who are a remnant of the colonial social stratification keep selling the people out and keeps impeding the liberation struggle of African people, a case study is Congo, the Congolese resource’s being looted daily by foreign powers who

connive with African National bourgeoisie to kill, subjugate and exploit the African masses. How do we solve this problem? Africa needs a mass movement based on the political philosophy of Afro Marxism, that seeks to completely, seamlessly, unconditionally and absolutely destroy the social stratification and with force destroy the National bourgeoisie and its accomplices in the metropolis whose exploitation of African resources is based on the vicious and unequal political philosophy of capitalism. African workers of the world unite, you have nothing to lose but your chains, you have a world to win.

TUES DAY,

F EB R UARY

09

2021

|

PG

1 3

MARKET WATCH Financial analysis, stock alerts, economic trends & financial institutions.

WEEKLY REPORT STOCK MARKET REPORT FOR FEBRUARY 5TH 2021 PRODUCTS EQUITY A total turnover of 2.767 billion shares worth N29.685 billion in 31,380 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 2.570 billion shares valued at N27.884 billion that exchanged hands last week in 31,466 deals. The Financial Services Industry (measured by volume) led the activity chart with 1.924 billion shares valued at N20.344 billion traded in 15,160 deals; thus contributing 69.54% and 68.53% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 264.795 million shares worth N523.521 million in 1,528 deals. The third place was Consumer Goods Industry, with a turnover of 197.407 million shares worth N3.366 billion in 6,240 deals. Trading in the top three equities namely Union Bank of Nigeria Plc, First Bank Holding Plc and Transnational Corporation of Nigeria (measured by volume) accounted for 859.867 million shares worth N4.250 billion in 2,459 deals, contributing 31.08% and 14.32% to the total equity turnover volume and value respectively. Equity Turnover - Last 5 days Date

Deals

1-Feb-21 2-Feb-21 3-Feb-21 4-Feb-21 5-Feb-21

7,615 7,116 5,889 4,759 6,001

Turnover Volume 586,940,733 563,219,267 504,995,137 629,538,127 482,324,242

Turnover Value (N) 6,024,144,775 4,789,871,124 5,310,297,904 7,980,851,017 5,579,759,589

Traded Stocks 114 111 111 113 109

For Further Inquiries Contact: Market Operations Department

Advanced Declined Stocks Stocks 35 28 9 50 19 27 22 25 14 37

Page 1

Copyright © 2020 [The Nigerian Stock Exchange]. All Rights Reserved.

Unchanged Stocks 51 52 65 66 58

Market Watch

TUESDAY, FEBRUARY 09 2021 | PG 14

WEEKLY REPORT ETPs A total of 238,451 units valued at N1.799 billion were traded this week in 38 deals compared with a total of 262,345 units valued at N2.279 billion transacted last week in 61 deals. s/n 1 2 3 4 5 6

Security NEWGOLD VETGRIF30 MERGROWTH VETINDETF VSPBONDETF VETGOODS TOTAL

Deals 27 3 5 1 1 1 38

Volume 206,181 30,174 2,066 10 10 10 238,451

Value 1,798,596,930.00 543,132.00 37,587.00 203.80 2,143.30 59.20 1,799,180,055.30

BONDS A total of 8,002 units valued at N9.171 million were traded this week in 7 deals compared with a total of 20,510 units valued at N22.187 million transacted last week in 17 deals. s/n 1 2 3 4 5 6

Security FGSUK2025S2 FGS202261 FGS202166 FGS202270 FG152023S3 FG152028S1 TOTAL

Deals 1 1 2 1 1 1 7

Volume 4,000 2,500 1,002 300 100 100 8,002

Value 4,951,739.82 2,672,250.00 1,017,128.64 283,095.24 114,642.76 132,420.36 9,171,276.82

INDEX MOVEMENT

The NSE All-Share Index and Market Capitalization depreciated by 1.66% to close the week at 41,709.09 and N21.819 trillion respectively. Similarly, all other indices finished lower with the exception of NSE Growth Index which appreciated by 3.26%, while the NSE ASeM Index closed flat (See summary of index movements in the table below): WEEK CLOSE 29/01/2021 The NSE All-Share Index (ASI) NSE Growth Index The NSE-Main Board Index NSE 30 Index NSE CG Index NSE Premium Index NSE Banking Index NSE Pension Index NSE Insurance Index NSE ASeM Index NSE-AFR Bank Value Index NSE AFR Div Yield Index NSE MERI Growth Index

42,412.66 958.96 1,835.93 1,720.95 1,304.74 3,613.80 424.04 1,492.60 245.91 729.87 1,194.27 2,309.09 1,706.76

WEEK CLOSE 5/02/2021

WEEKLY CHANGE

WtD

41,709.09 990.24 1,820.98 1,689.05 1,280.53 3,518.19 414.39 1,448.26 231.14 729.87 1,168.07 2,210.14 1,698.06

-703.57 31.28 -14.95 -31.90 -24.21 -95.61 -9.65 -44.34 -14.77 0.00 -26.20 -98.95 -8.70

-1.66 3.26 -0.81 -1.85 -1.86 -2.65 -2.28 -2.97 -6.01 0.00 -2.19 -4.29 -0.51

For Further Inquiries Contact: Market Operations Department

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MtD -1.66 3.26 -0.81 -1.85 -1.86 -2.65 -2.28 -2.97 -6.01 0.00 -2.19 -4.29 -0.51

QtD 3.57 -0.17 5.51 2.98 4.91 1.37 5.44 4.29 21.97 0.00 4.93 9.53 2.65

YtD % Change 3.57 -0.17 5.51 2.98 4.91 1.37 5.44 4.29 21.97 0.00 4.93 9.53 2.65

Market Watch

TUESDAY, FEBRUARY 09 2021 | PG 15

WEEKLY REPORT NSE MERI Value Index NSE Consumer Goods Index NSE Oil/Gas Index NSE Lotus II NSE Industrial Goods Index

2,019.33 613.69 254.31 2,947.10 2,081.37

1,912.72 593.91 253.91 2,892.33 2,038.22

-106.61 -19.78 -0.40 -54.77 -43.15

-5.28 -3.22 -0.16 -1.86 -2.07

-5.28 -3.22 -0.16 -1.86 -2.07

3.32 3.59 12.25 1.62 -0.69

3.32 3.59 12.25 1.62 -0.69

SUMMARY OF PRICE CHANGES PRICGES

Twenty-two (22) equities appreciated in price during the week, lower than Forty-one (41) equities in the previous week. Sixty (60) equities depreciated in price, higher than Thirty-four (34) equities in the previous week, while eighty (80) equities remained unchanged, lower than eighty-six (86) recorded in the previous week. Top 10 Price Gainers

Company MCNICHOLS PLC JAIZ BANK PLC ETERNA PLC. NCR (NIGERIA) PLC. MULTIVERSE MINING AND EXPLORATION PLC UNITY BANK PLC MRS OIL NIGERIA PLC. UNILEVER NIGERIA PLC. E-TRANZACT INTERNATIONAL PLC JOHN HOLT PLC.

Open Close 0.51 0.73 0.65 0.72 5.20 5.75 3.12 3.43 0.22 0.24 0.67 0.73 12.30 13.40 13.50 14.60 2.33 2.50 0.47 0.50

For Further Inquiries Contact: Market Operations Department

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Copyright © 2020 [The Nigerian Stock Exchange]. All Rights Reserved.

Gain (N) % Change 0.22 43.14 0.07 10.77 0.55 10.58 0.31 9.94 0.02 9.09 0.06 8.96 1.10 8.94 1.10 8.15 0.17 7.30 0.03 6.38

Market Watch

TUESDAY, FEBRUARY 09 2021 | PG 16

WEEKLY REPORT Top 10 Price Decliners Company LINKAGE ASSURANCE PLC JAPAUL GOLD & VENTURES PLC AIICO INSURANCE PLC. JULIUS BERGER NIG. PLC. REGENCY ASSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. LAFARGE AFRICA PLC. CHAMPION BREW. PLC. UACN PROPERTY DEVELOPMENT COMPANY PLC N NIG. FLOUR MILLS PLC.

Open 0.90 0.91 1.40 22.65 0.34 0.43 30.00 3.11 0.84 9.68

Close 0.60 0.75 1.21 19.70 0.30 0.38 26.65 2.77 0.75 8.65

Loss (N) -0.30 -0.16 -0.19 -2.95 -0.04 -0.05 -3.35 -0.34 -0.09 -1.03

% Change -33.33 -17.58 -13.57 -13.02 -11.76 -11.63 -11.17 -10.93 -10.71 -10.64

NEW LISTINGS EQUITY:

Bricklinks Africa Plc: Listing of the Entire Issued and Fully Paid 10,000,000 Ordinary Shares of N1 Each at N6.26 Per Share The entire issued and fully paid 10,000,000 ordinary shares of Bricklinks Africa Plc (Bricklinks Africa or the Company) were listed by introduction on the Entry Segment of the Growth Board of The Nigerian Stock Exchange (The Exchange) on Friday, 5 February 2021. The listing is following The Exchange’s approval of the application to list the Company’s entire issued and fully paid 10,000,000 ordinary shares of N1 each at N6.26 per share. The trading symbol of Bricklinks Africa is BAPLC. BOND: Federal Government of Nigeria: Listing of the Two (2) FGN Savings Bonds Issued in January 2021 The January 2021 Issue of the Federal Government of Nigeria (FGN) Savings Bonds were listed on The Nigerian Stock Exchange on Friday, 5 February 2021. Below are the details of the Bonds: Symbol Name Amount Issued (N) Units Coupon Symbol Code ISIN Issue Date Maturity Date Coupon Payment Date COMPANY REPORT

January 2021 Issue 2.19% FGS JAN 2023 3.19% FGS JAN 2024 18,140,000 78,052,000 18,140 78,052 2.19% 3.19% FGS202384 FGS202485 NGFGS2023847 NGFGS2024852 13 January 2021 13 January 2023 13 January 2024 13 April, 13 July, 13 October, 13 January

For Further Inquiries Contact: Market Operations Department

Page 4

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Market Watch

TUESDAY, FEBRUARY 09 2021 | PG 17

WEEKLY REPORT S/NO 1 2 3 4 5 6 7 8 9 10 11 12

COMPANY PRESCO PLC ROYAL EXCHANGE PLC. CHAMS PLC UNION DIAGNOSTIC & CLINICAL SERVICES PLC RAK UNITY PET. COMP. PLC. UNIVERSITY PRESS PLC. UNION DICON SALT PLC. GLOBAL SPECTRUM ENERGY SERVICES PLC FIDSON HEALTHCARE PLC CWG PLC N NIG. FLOUR MILLS PLC. AXAMANSARD INSURANCE PLC

PERIOD 4TH QUARTER 4TH QUARTER 4TH QUARTER 4TH QUARTER 4TH QUARTER 3RD QUARTER 4TH QUARTER 4TH QUARTER 4TH QUARTER 4TH QUARTER 4TH QUARTER 4TH QUARTER

UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED

DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER

Please visit http://www.nse.com.ng/Issuers-section/corporate-disclosures/companyresults for full details of Financial News and other corporate disclosures

For Further Inquiries Contact: Market Operations Department

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YEAR 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020

TUESDAY, FEBRUARY 09 2021 | PG 18

Essential Corner Danmole Zainab

Oil & Oils, one of the essential commodities

Oils are the basic and one of the most essential ingredients is needed in every of our cooking. In Nigeria, when we mention oil what comes to most people’s minds is either groundnut oil or palm oil. A lot of people don’t know there are various types of cooking oil. Asides the above mentioned, they use either of both oil for a lot recipe even the one which they could have used other types of oil.

From the result of our market survey, we discovered most of us always come across this other oils in the market but due to some reasons, we never want to go near it. It might be because of the prices or we don’t know what it is used for. Oil plays a major part in various of our cookings from frying, boiling to baking and roasting. Most of our recipes have a particular oil that is best for them. Using another type

of oil can mess the meal. There are different types of oil and its usage which includes groundnut oil, sunflower oil, palm oil, avocado oil, olive oil, and more. Groundnut Oil: Groundnut oil is one of the major cooking oil used in cooking and frying. It is the most popular type of cooking oil in Nigeria and some countries it is called peanut oil. Groundnut oil is more economical than other oil varieties. It is

also classified according to its level of cholesterol. We have the cholesterol-free groundnut oil and we have the one with a very high percentage of cholesterol. The groundnut oil has its health benefits which makes it an essential ingredient in our cooking. It prevents heart disease and cancer and also it is used by some dermatologist to cure some skin disease. Although, there is no scientific evidence to support

Market Watch its usage. Groundnut oil is used in baking, frying, and roasting. It is used in massive productions by some industries. Palm Oil: Palm Oil is an edible vegetable oil derived from the fruit of the oil palms. The palm oil is originated from West Africa which has a lot of social value. The palm oil is very essential in our African society as it served so many purposes. It is used by some for typical African dishes while some use it for making soaps and some skincare products. In some African society, it is one of the major ingredients during their ceremonies and festivals. It’s cooking us-

TUESDAY, FEBRUARY 09 2021 | PG 19

age is limited to that of the groundnut oil. It is also economical as it is affordable and easy to find. Sunflower Oil: This is the non-volatile oil pressed from the seeds of Sunflower. It is commonly used in food as a frying oil and also in cosmetic formulations. It is more expensive and an uncommon type of oil. Avocado Oil: Avocado Oil is an edible oil made from the pulp of avocados. It Is used as an edible oil both raw and cooking. Also, it is used for lubrication and in cosmetics. It is an uncommon type of oil and it is as expensive as the Sunflower oil. Sesame Oil: This

oil is derived from the seeds of flowering sesame plant. These plants are native to East Africa and India. Due to its flavour and high levels of mono and polyunsaturated fats, sesame oil has become one of the most popular cooking oil. It’s good for cooking and cosmetics. Coconut Oil: This is plant oil derived from kernels and milk of the coconut palm and fruit. It is used as food oil and in industrial applications. It is one of the most versatile oils in the world. Olive Oil: It is a natural oil extracted from olives. It is used for cooking and cosmetics. It also has a wide range of health

benefits. It is one of the most expensive oil. As we now have an idea of which and what the oils are used for making boring foods should be a thing of the past. We can always explore, use loads of these oils and make super delicious meals. Yes, groundnut oil and palm oil are a must, let’s make other oils useful. You can stir-fry with your avocado oil, bake with sesame oil, use sunflower oil in bakes and so many more. Don’t forget you have to explore to know what is right or wrong. Oil is essential other oils are too.

A demand curve shows the relationship between quantity demanded and price in a given market on a graph. The law of demand states that a higher price typically leads to a lower quantity demanded. A supply schedule is a table that shows the quantity supplied at different prices in the market.

TUESDAY, FEBRUARY 09 2021 |

PG 21

HEALTH & WELLNESS Health news, stories and tips that inspire healthy diets, relationships and lives.

OLUWAROTIMI DESIRE

Stop the abuse

Day in day out, the media is always flooded with a series of bad news that has to do with abuse. These incidents have done nothing but damage to us. It has made me question the love we claim to have for ourselves. Where is the love? Parents are abusing their children likewise siblings and most surprisingly, couples who already

vowed to love themselves till the end of time abuse each other. If all of these keep happening, then the love we claim to share is ingenuine and untrue. Why don't we try exhibiting undiluted love to everyone around and let's see if it wouldn't make our lives better health-wise? Abuse can be physical, emotional or sexual. It might surface

from neglect. Sadly, a lot of us abuse others without even knowing that we do. Abusing others whosoever they are is the same as afflicting them with pains. PHYSICAL ABUSE. Physical abuse is always easily recognizable because after the deed has been done, traces of the evil act are left behind. This form of abuse occurs through slap-

ping, punching, flogging, biting, choking, pinching and any other act that would inflict injuries on another individual. I think the most common form of physical abuse we encounter in our society today is domestic violence. Dear Husband, why should you ever lay your hands on your woman? What could she have done that seems so unforgiv-

Health & Wellness able? Probably, the problem even lies with you as the husband, who knows? Do you not know that by physically abusing a person, you already went as far as shattering the individual's emotional state and this could lead to a lot of problems as suicide contemplation, high blood pressure as a result of unending cries and overthinking of issues. Dear Parents, you beat your children at every slight error they make and dishearteningly, the beatings of yesterday does not in any way guarantee that they would not make any more error in future. So why not stop the beatings and try some more effective method of correcting your children maybe by sitting then down and doing a heart to heart talk

with them. From my wealth of experience, the latter works better than the other because the child feels honoured that he or she is being treated as human and not like an animal. SEXUAL ABUSE. One of the most important things to learn as humans are to be able to control our sexual urge. No matter who a person is to you, you cannot have sex with the individual without prior consent. Do we need to lift banners before it is understood that this is very wrong? It baffles me to wake up from my sleep and the first thing I see on the headlines is how a 3-year old got defiled by a 60-year old. And I question myself, what is so attractive in a 3-year old? Sexual abuse creates a bunch of problems

TUESDAY, FEBRUARY 09 2021 | PG 22

that would eventually need solutions. After effects may be emotional, psychological or even physical. Victims may suffer depression and flashbacks that would result in Post-traumatic stress disorder (PTSD). All of these might as well make the victim begin to have suicidal thoughts. EMOTIONAL ABUSE. Emotional abuse involves criticizing, embarrassing, blaming and insulting a person in such a way that the state of mind gets affected. Issues like this occur a lot between parents and their children. Haven't you ever seen parents ask their children questions like why are you this way? Why can't you be more like? When will you ever change? All of these kinds of

questions have effects on people and not necessarily kids alone. These questions find a way of creeping into the mind making the victims think about it over and over again thereby destabilizing them. The result might be so shocking and unbearable. You've got to be mindful of the way you talk to others no matter who they are. Aside from suffering a health condition, the death rate as a result of abuse is on the high and something needs to be done about it. We need to learn to co-exist in love and watch each other's back like never before. It is only when this is done that you can see that genuine smile on the faces of everyone around.

One of the most important things to learn as humans are to be able to control our sexual urge.

Health & Wellness

TUESDAY, FEBRUARY 09 2021 | PG 23

Plank vs. Crunch: which is the best exercise for abs and core ? CASMIRE OKEDINACHI

Planking isn’t a dynamic exercise, per se. It works on your core stability by strengthening your core without moving to a spinal flexion or extension and that’s its entire purpose. However, planking isn’t just supporting yourself on your elbows and knees as long as possible. Planking creates tension in your core, legs and upper body and if you want to keep the tension on them you have to flex and squeeze your muscles as hard as you can while doing it. When your core muscles are being put under pressure, you should feel your knees almost pulling towards your toes during the exercise. Planking helps

strengthen your spine, which in turn will help you keep a neutral spine during your daily routine. When you do planks on a regular basis, it will bring positive effects on a number of other compound exercises such as deadlifts, benching and squats. As opposed to that, the floor crunch and its many variations serve to get you to go into spinal extension and flexion as much as possible which will contract your abs, which in turn will break down some muscle tissue to be rebuilt later. In order for muscle tissue to break down, you have to have extension and flexion of the targeted muscle, so if you want to make a hypertroph-

ic response in your abs, do some floor crunches. SO , SHOULD YOU DO PLANKS or FLOOR CRUNCHES TO BUILD UP YOUR ABS ? The answer is multifaceted. If you want your body to become more stable, do planks. If you want to have sturdy, blocky abs, do floor crunches and their variations. Of course, you can do both. Some people do crunches first in order to activate their rectus abdominis and break them down a bit, and then finish with some planks. This is done because you can exhaust your abs before doing planks, so when you actually do them they will be harder and more in-

tensified. IN CONCLUSION Planks are really easy to do and you can do them for anywhere up to five minutes, if you’re rested. However, if you do floor crunches before working on your plank, those five minutes will be way more intense and you might not even last that long! So, all in all, the best thing to do about these two exercises is to combine them – floor crunches first followed by planks and your abs will look amazing. FOR ENQUIRIES ON ALL THE SERVICES WE OFFER, PURCHASES PARTNERSHIP OR SPONSORSHIP: CALL OR DM 08186578916

TUESDAY, FEBRUARY 09 2021 | PG 24

BUZZ E N T E R T A I N M E N T

Vincent Mutuma [email protected] @thisis_mutuma

Buzz is an enteratinment column dedicated to the latest news, reviews, photos and videos surrounding all aspects of the entertainment industry!

Meet former Kenya’s Afc Leopards star Jonas Nahimana Alias J pako, now established musician

Once known for his towering frame and prowess playing as defender for AFC Leopards, Jonas Nahimana alias J Pako is looking to make a mark in music. The left footed Congolese played for Kenyan Premier League sides AFC Leopards and Sofapaka before retiring to pursue his other passion, music. According to the artist and promoter, music has always been a part of his life and he natu-

rally turned to it after hanging up his boots in 2017 after relocating to the USA. “Those who know me were not surprised to see me doing music. I have been singing since I was a little boy and some point, sang in church while playing for Sofapaka,” he said. According to J Pako, he’s been working to rebrand himself and prove to naysayers that he’s also musically gifted

“I have been working on my songs and people are now discovering me as an artist. Some people doubt it, but I’m determined to make a career out of this. My

last release All About U which dropped in 2020, Pako said that “the song is inspired by my appreciation and respect for the role women play in society.  I poured out

hope is that fans will love my work as artist just as they loved me during my days as a defender.” Speaking on the inspiration behind his

my heart into the song and I believe the passion is evident.”

Entertainment

TUESDAY, FEBRUARY 09 2021 | PG 25

Congolese star making waves in Germany Vincent Mutuma

Batila is a Congolese guitarist and singer based in Berlin, German. His music is described as "soulphisticated, colourful, vibrant and elevating". His music bears a Congolese scent, a sparkle of R&B and soft jazzy vibes. Batila's mellow voice guides the audience through unique live experiences, be it with a full band on a big stage or in an intimate acoustic setting. He is known for his energetic and memorable performances. At age 10, Batila started writing po-

ems and developed a love for music as his father would bring back vinyl from his travels.  “I was always the first to unwrap the vinyl and listen to the songs- the latest releases of Congolese Urban Music. I fell in love with the Congolese songwriting style where songs are penned from the perspective of the woman. Often, socio-political themes are cleverly wrapped up in love stories,” said Batila, whose favourite bands include the Papa Wemba’s Viva la Musica, T.P.O. k Jazz by

Franco Luambo Makiadi among others.  Songwriting for Papa Wemba In the 90s, Batila was part of a hip-hop group called Soylent Green but he quit after three years to join college. During his college years, he got to write for the legendary Papa Wemba.  “Writing for Papa Wemba was surreal because he’s one of Congolese music’s all-time greats. My experiences influenced my style, Bantu Soul. It’s a fusion of Congolese music, reggae and soft jazzy vibes inspired

by people of African descent.” LP Batila has an upcoming LP titled  Tatamana, which means ‘don't give up’ or ‘hold onto what you love’ in Kikongo.  “The album is my journey to African spirituality, self-love and black love. The first single in the project is dubbed  Naboyi,  meaning ‘I don’t want’. The song is about Simon Kimbangu, a Congolese religious leader who was killed by the Belgians for trying to enlighten the Congolese people,” revealed Batila.

Entertainment

TUESDAY, FEBRUARY 09 2021 | PG 26

France based Congolese musician set to drop album in 2021 Vincent Mutuma

Congolese artist Mukoko b'naï Mobo Sapa aka Nebka Elijah is set to drop his debut album in 2021. According to singer and author, his album titled Love and More is a test of skills and experience gained over the years. “My 2020 single Mama Lytah is a taste of what will be a dope album bound to leave my fans entertained,” said the singer.

Nebka Elijah traces his love for art to 2010 when he visited the Louvre Museum in France. According to the Jack of all Trades who also owns a jewelry line, the experience inspired him to get into music. “While walking in the Tuileries garden, I had the first encounter with my inner self and my life was never the same. It’s been a tasking and long

journey, I have questioned myself numerous times but it’s led me to discovering the beauty of art,’ he said. Learning He soon after relocated to London and to build his jewelry line dubbed Kokoh Ornaments and soon after recorded his seven-track EP Mukoko Renaissance Vol 1 heavily influenced by Congolese rumba

and modern sounds. While in London, Elijah started off as a production assistant and went on to learn about art, culture and business for seven years up to 2017. “It’s been a long journey – the seven years of learning allowed me to know myself better and reclaim my identity,” Elijah said.

TUESDAY, FEBRYART 09 2021 | PG 27

Redtalk Sports

Man City still keen on Barcelona legend His contract in Catalonia expires at the end of June, and Messi is finally set to depart Barcelona shortly after his 34th birthday unless the LaLiga giants can somehow convince him to sign a new deal. While every club in the world would be keen on bringing in Messi, he has a huge contract and is likely only a realistic signing for a handful of the biggest teams. Paris Saint-Germain Source: www.talksports.com

are known admirers of Messi, while Man City were planning to sign him last summer before the Argentina forward committed himself to Barca for a further year. And it appears these two teams will again go head-to-head for Messi once this season ends, with PSG publicly flirting with the legendary attacker. City, meanwhile, have remained relatively quiet on the

subject – but this is all part of their plan to sign Messi, ESPN report. It is claimed City are still monitoring the situation at Camp Nou, but will wait until March or April before formalising their interest by ‘sounding out the situation’. This approach by the Etihad club, which is very different from PSG’s public admissions of interest, appears to be the wiser transfer plan.

“PSG are making a mistake with the strategy they’re using,” a Barca source told ESPN. “Leo doesn’t like all that noise in the media and even less the type of comments [which have been made].” Should Messi head to Man City this summer, he will reunite with his former Barcelona manager Pep Guardiola at the Etihad.

S’ports

TUESDAY, FEBRUARY 09 2021 | PG 28

Aston Martin reveal big 2021 target in first season back in F1 against 'formidable' rivals

Aston Martin boss Otmar Szafnauer says the newly-rebranded team are targeting a coveted third in the championship this season but are wary of their "formidable" rivals - as well as 2021's "significant" car changes. After morphing from Racing Point into Aston Martin - marking the famous British car brand's return to the F1 grid for the first time in 61 years - the team have lofty ambitions, particularly after signing four-time world champion Sebastian Vettel to partner Lance Stroll. Szafnauer has previously revealed intent to become a "top team", but in their first season as Aston Martin the SilverSource: www.skynews.com

stone outfit are aiming for an achievement they narrowly missed out in 2020 third place and F1's top 'midfield' runner. "It will be the target for us," Szafnauer told Sky Sports' Craig Slater in an exclusive interview. "But I don't think it will be easy we've got some formidable competitors there." Aston Martin's team principal named two major threats in particular; historically F1's most successful teams. One which is rebuilding after a well below-par season, and another that pipped Racing Point to third at 2020's last race. "Ferrari, for sure, will work hard over the winter to do better

than they did last year," added Szafnauer. "McLaren get a new [Mercedes] power train, the same one that we have and I'm sure they did that for reasons of competitiveness. "And there's some driver movements as well, so we'll see how all that pans out. So there are some differences." Szafnauer also saidthe 2021 changes to the car - which aren't as drastic as previous seasons but are still leading to major re-designs - could make a big difference to the pecking order. "They took out big chunks of the floor for us to lose downforce, and depending on how the teams claw that downforce back, that'll have a big im-

pact." How similar will the Aston Martin car be to Racing Point's? Racing Point made headlines last season, and were even penalised, for designing their 2020 car and more specifically the brake ducts - too similarly to the 2019 Mercedes, F1's world champions and their engine-suppliers. Szafnauer said of Aston Martin's 2021 car: "From a philosophy standpoint, running a low-rake car, that stays the same. "[But there are] significant aerodynamic changes - and because of that we had to redevelop the whole thing."

The

erchants

Times

The world is no longer a small place, not anymore. People are trying hard to solve the problem they created. Humanity is learning to discover new terrific things daily and many inhumane actions have trodded down the peace of the commoners. Read reports on people whose voices and experiences matter in mainstream media. Our reslience team of professionals tells real global stories about resistance, justice and identity.

Source: www.formula1.com

Will Smith

Willard Carroll Smith Jr. is an American actor, rapper, and film producer. Smith has been nominated for five Golden Globe Awards and two Academy Awards, and has won four Grammy Awards. During the late 1980s, he achieved modest fame as a rapper under the name The Fresh Prince.