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NGX Suspends Unity Bank, NPF Microfinance, Six Others’ Trading

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NGX Regulation, the regulatory division of the NGX Group, has halted trading in the stocks of eight companies due to their failure to submit their respective accounts for 2023.

In an announcement released on Monday, the Head of the Issuer Regulation Department, Godstime Iwenekhai, stated that the suspension would take effect immediately.

The companies affected by this suspension, as listed in the market bulletin, are Unity Bank, C&I Leasing Plc, Guinea Insurance, Lasaco Assurance, Mutual Benefits Assurance, NPF Microfinance Bank, Regency Alliance Insurance, and Secure Electronic Technology Plc.

Iwenekhai said, “Trading in the shares of the eight companies below have been suspended from the facilities of Nigerian Exchange Limited (NGX or The Exchange) effective today, Monday, 8 July 2024, for not filing their Audited Financial Statements for the year ended 31 December 2023.”

Also, listed companies are obligated to comply with post-listing requirements by submitting their accounts and other documents within a specified timeframe on the Exchange.

NGX RegCo said that it acted by Rule 3.1 about the Filing of Accounts and Treatment of Default Filing, (Default Filling Rules), which said, “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will a) Send to the issuer a Second Filing Deficiency Notification within two business days after the end of the Cure Period.

“b) Suspend trading in the issuer’s securities, and c) Notify the Securities and Exchange Commission and the Market within 24 hours of the suspension.”

According to the regulation, the trading suspension on the shares of the impacted companies will be removed upon their adherence to the regulations.

Insurance firms faced setbacks in submitting their 2023 annual report because of the implementation of IFRS 17 standards.

Under IFRS 17, a corporation must record profits as it provides insurance services (instead of when it collects premiums) and disclose details about anticipated insurance contract profits in the future.

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SPORTS

Mbappe Speaks On Winning Ballon d’Or After Joining Real Madrid

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France football star, Kylian Mbappe, who recently joined Real Madrid during the summer transfer window, has expressed his belief that the prestigious Ballon d’Or award will be within his reach if he secures trophies and seamlessly integrates into his new team.

World wide gist reports that Mbappe shared this thought during his formal introduction as a Real Madrid player on Tuesday in Madrid, Spain.

The French international athlete signed a five-year contract with Real Madrid following the conclusion of his current contract with Paris Saint-Germain (PSG) at the end of the summer.

When queried about the potential impact of his move to Real Madrid on his aspirations of winning the UEFA Champions League and the Ballon d’Or, the 25-year-old responded: “There is no better place than Madrid to win titles. But the key is to adapt well. If I do that, the rest will come naturally.

“Winning everything is an objective, but in the long term. Now I want to get back to training and adapt to the team.”

World wide gist reports that Madrid had previously shared a photograph capturing the France superstar, alongside Perez, in front of the club’s 15 replica Champions League trophies.

The Spanish champions, who have long held a deep admiration for one of the most renowned talents in world football, had been actively pursuing his acquisition last summer.

This was in anticipation of Mbappe’s impending departure from PSG at the end of his contract.

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‘Thomas Tuchel Open To Replacing Gareth Southgate As England Manager’

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The former manager of Bayern Munich, Thomas Tuchel is reportedly ready to replace Gareth Southgate as the manager of England.

Thomas Tuchel is not known to be a national team coach, but a UK publication, the Sun, claimed that the German tactician wants to start his international coaching career with England.

Recall that Tuchel resigned as Bayern Munich coach after one year and a half seasons at the German Bundesliga giants. He decided to part ways with the club on mutual grounds after he failed to win the league title for the perennial winners.

Before his not-too-impressive spell at Bayern Munich, Tuchel had coached Borussia Dortmund, Paris Saint Germain, and Chelsea.

At Chelsea, the German coach had the best run of his career as he helped the London-based club to win the UEFA Champions League, the Super Cup, and the FIFA Club World Cup.

Since he is currently without a coaching job, he sees the Three Lions of England coaching role as his next stop after Southgate confirmed his resignation from the role earlier today, July 16.

Recall that Southgate reigned as England’s head coach for eight years in which he led them to the Euro 2021 final, which they lost to Italy, and the Euro 2024 final which they lost to Spain.

While Tuchel is said to be open to negotiate with the English FA, Newcastle United coach, Eddie Howe is said to be the favourite to replace Southgate.

Other coaches mentioned for the job are former English midfielders Frank Lampard and Steven Gerrard, alongside former Brighton coach, Graham Potter.

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Yamal, Walker, Rodri Listed As UEFA Unveils Euro 2024 Team Of The Tournament

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UEFA has unveiled its official selection for the Euro 2024 Team of the Tournament, highlighting exceptional players in the just concluded competition in Germany.

World wide gist reports that the selected team, organized in a 4-3-3 configuration, includes players from a diverse array of countries, with Spain emerging as the dominant force.

In the goalkeeping position, France’s Mike Maignan is recognized for his outstanding performances.

The defensive line is anchored by England’s Kyle Walker, Switzerland’s Manuel Akanji, France’s William Saliba, and Spain’s Marc Cucurella.

The midfield trio is led by Spain’s Rodri, Fabián Ruiz, and Dani Olmo.

The forward line is particularly noteworthy, with Germany’s Jamal Musiala serving as the central striker, supported by Spain’s Lamine Yamal and Nico Williams.

It is worth noting that this youthful attacking trio has played a pivotal role in their teams’ success.

Euro 2024 Team of the Tournament

On the final day of the Euro 2024, Rodri was honoured as the top scorer of the tournament, having contributed significantly to La Roja’s victory over England with a score of 2-1, securing their fourth championship title in Berlin on Sunday.

World wide gist reports that Rodri’s performance was momentarily interrupted at the halftime of the final due to a knee injury, yet his exceptional contributions were recognized as Spain also managed to defeat Germany and France, securing their place in the final.

His sole goal of the tournament was scored in a 4-1 victory over Georgia in the last 16.

Despite this, coach Luis de la Fuente praised Rodri as a “perfect computer,” acknowledging his consistent passing and strategic understanding of the game, which were crucial in guiding a young team to victory against a particularly challenging schedule.

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