Last week, Nigerian stocks fell by 1.2 per cent, marking its third week of broad retreat in the wake of the introduction of a T+1 settlement cycle in June.

The Banking Index was worst hit, receding by 10.5 per cent, followed by the Insurance Index. FTSE Russell, a global provider of stock market indexes, during the week placed its recent upgrade of Nigeria from unclassified to a frontier market on hold on fears that the country’s new rule, compelling international investors to prefund their accounts before transactions, may be deterring.

Failure by stock market authorities to respond swiftly to address the issue may leave stocks hammered further by apathy and capital flight from foreign investors.

This week, increased positioning, notably in stocks that pay dividends at least twice a year, could be witnessed as the market awaits the release of half-year corporate results.

PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

NEM Insurance

NEM Insurance tops this week’s list for its strong fundamentals. The net profit ratio (NPR) of the underwriter is 9.6, while the price-to-earnings (PE) ratio is 8.5x. Its 10-day relative strength index (RSI) is 27.4.

Custodian Investment

Custodian Investment appears on the pick on the basis of its attractive fundamentals and for trading below its intrinsic value. The NPR of the company is 26.3, while the PE ratio is 5.3x. The RSI is 8.4.

Fidelity Bank

Fidelity Bank makes the selection for trading below its intrinsic value. The lender’s NPR is 16, while the PE ratio is 3.3x. Its RSI is 27.4.

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United Capital

United Capital makes the cut for its vibrant fundamentals. The NPR of the company is 51.2, while the PE ratio is 10x.

Aradel Holdings

Aradel Holdings features on the pick for its strong fundamentals. The energy company’s NPR is 57.4, while the PE ratio is 14.2x. The RSI is 17.

The Bauchi State Police Command has recovered a stolen motorcycle and a vehicle while arresting four suspects in separate operations in Bauchi and neighbouring Gombe State.
In the first operation, police operatives attached to the ‘E’ Division, Yelwa, intercepted a 28-year-old suspect, Hafiz Ahmad of Karofin Madaki, during a routine patrol around Yelwan Kagadama on July 4.

The suspect was found riding an unregistered black Jiacheng ladies motorcycle valued at N450,000.

Police spokesperson, SP Nafiu Habib, said the suspect confessed during interrogation that he stole the motorcycle from Unguwar Kusu in the Yelwa area of Bauchi.

He said further investigation led officers to the rightful owner, a 23-year-old resident of the Federal Low-Cost Housing Estate, who identified the motorcycle and presented documents confirming ownership before it was released to him.

In a separate operation, the command recovered a stolen green Vectra Opel with registration number AH 232 AKK, arresting three suspects linked to the theft.

The vehicle, belonging to Mu’azu, a resident of Katsinawa Village along Jos Road, Bauchi, was reported stolen on June 29 after the police received a distress call from a concerned member of the public.

Acting on intelligence, detectives from the ‘E’ Division intercepted the vehicle around Dorawan Dillalai and arrested one suspect.

A follow-up investigation led detectives to Gombe State, where two additional suspects identified as Abubakar Musa, 46, and Usman Abubakar, 30, were arrested while allegedly negotiating to buy the stolen vehicle.

According to the police, the suspects confessed to the offence and admitted they had been involved in similar crimes previously.

The command said investigations into both cases are ongoing, while all the suspects will be charged in court upon completion of investigations.

The Commissioner of Police in Bauchi State, CP Sani-Omolori Aliyu, commended the operatives for their prompt response and professionalism.

He also appreciated members of the public for providing useful information, urging residents to properly document their vehicles and promptly report suspicious activities to the nearest police station.