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October Effect

What Does It Mean?
What Does October Effect Mean?
The theory that stocks tend to decline during the month of October. TheOctober effect is considered mainly to be a psychological expectationrather than an actual phenomenon. Most statistics go against the theory.
Investopedia Says
Investopedia explains October Effect
Some investors may be nervous during October because the dates of some largehistorical market crashes occurred during this month. Black Monday,Tuesday and Thursday all occurred in October 1929, after which came theGreat Depression. In addition, the great crash of 1987 occurred onOctober 19, and saw the Dow plummet 22.6% in a single day. .
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Pressure increases from IBB groups to release Accused

The presidency has directed the office of the Attorney-General of the Federation and Minister of Justice to liaise with the Lagos State government to look at the legal implications of the long standing trial of Major Hamza Al-Mustapha, former chief security officer (CSO) to former Head of State, late General Sani Abacha, to ensure that justice is done to both victims and the accused.

A source in the presidency said that the directive was based on a report recently submitted to President Goodluck Jonathan by a team of senior lawyers advising the president to ensure that justice is done to the former CSO, who has been standing trial since 1999 over the alleged killing of Alhaja Kudirat Abiola and attempted murder of the publisher of The Guardian, Olorogun Alex Ibru.

The report claims that the foot-dragging over the trial of Mustapha amounted to justice denied. It said the only way the government could ensure fairness and justice in the murder case was to ensure that one party did not suffer injustice.

The report further advised that there is urgent need to advise the Lagos State government, the prosecutor to discontinue the case if it does not have sufficient evidence to prosecute the matter.

"Since the presidency cannot directly ask the Lagos State government to discontinue the case, it can only advise. And the minister of justice has been advised to liaise with the Lagos State government," the source added.

A coalition of ethnic nationalities in the country recently called for an unconditional release of Major Al-Mustapha.

Speaking at a joint news conference addressed by the founder of the Oodua People's Congress (OPC), Dr. Fredrick Fasehun; the leaders of Arewa Youth Consultative Forum (AYCF), Alhaji Shettima Yerima; the Niger-Delta Volunteers Force (NDVF), Alhaji Dokubo Asari; and the Igbo Youth Congress (IYC), Comrade Bright Ezeocha , the leaders said the prolonged detention of Al-Mustapha was an injustice.

Two weeks ago, ex-military despot Ibrahim Badamasi Babangida, also called for Al-Mustapha immediate release during a campaign trip, in South-West, of Nigeria. According sources, IBB remarked, if the government cannot make-up their mind on whether going for their trial or their unconditional aquittal, is pretty much like, ”justice delayed which, is justice denied”, reports added.

They called on Jonathan to invoke the prerogative of mercy clause in the constitution to grant amnesty and liberty to him and those detained with him.

According to the coalition, the 12 years Mustapha has spent in detention, represent 18 years in the normal prison calendar, making him the longest serving solitary detainee in the nation's history. His useful years, they said, were being frittered away.

The leaders spoke at Fasehun's Century Hotel, Okota, Lagos, recently. Over 500 members of the ethnic militia groups were at the occasion.

Addressing reporters on behalf of the group, Fasehun condemned everything the successive governments had done in Al-Mustapha's case. He said the government's position contradicts the nation's position as a signatory to the United Nation, Commonwealth, African and West African Charters, Conventions and Resolutions on Human Rights, Torture, Detention and Imprisonment.

The injustice of Major Al-Mustapha's detention, Fasehun said, had become a source of disgrace to millions of Nigerians at home and abroad. He said the issue had become an international embarrassment and disgrace to Nigerians and the nation's judicial systems.

He added: "More embarrassing is the fact that all the witnesses that the state has pushed forward in the court of law had by and large debunked the allegations leveled against these gentlemen.

"Time has come to terminate this national disgrace and lunacy. We hereby appeal to President Goodluck Jonathan to wade into this matter in the name of all that is good.
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Rescuing 9geria is not simply a choice but the only choice we must make as 9gerians and friends of 9geria if this largest black nation on earth will not sink under the yoke of ignorance, waste, corruption, and poverty. What you must know: DID YOU KNOW… 1. that over N6.5 trillion was spent to pay salaries and allowances of 9geria’s 18,000 [s]elected public officials between 1999 and 2009 while 9gerian workers receive peanuts as salaries? 2. that about half of 9geria’s annual revenue is spent to maintain the lifestyle of 9geria’s 18,000 [s]elected public officials while national minimum wage remains at N7, 500? 3. that in section 16 (2) (d) of 9geria’s Constitution it is stated as follows: “The state shall direct its policy towards ensuring that suitable and adequate shelter, suitable and adequate food, reasonable national minimum living wage, old age care and pensions, and unemployment, sick benefits and welfare of the disabled are provided for all citizens”? 4. that because of the outrageous salaries and allowances paid 9geria’s public officials and their corrupt lifestyle 9gerians have been deprived of the benefits accorded them by section 16 (2) (d) of the Constitution? 5. that the 150 million 9gerians, of whom you are an important family member, are expected by the fortunate 18,000 officials to do nothing about this? 6. that our public schools will continue to deteriorate if you do nothing? 7. that the children of the 18,000 officials don’t attend the public schools you or your children attend? 8. that the children of the 18,000 officials shall come back to rule over your less and under educated children if you do nothing? 9. that graduates of public schools stand little chance of getting good jobs in 9geria compared to those of better funded private schools both within and outside 9geria which neither you nor your children can afford except family members of the 18,000 officials? 10. that 9geria’s bad roads, poor electricity, collapsed health system, neglected agriculture and industrial sectors like her public education will not improve if you do nothing? 11. that “vision 2020” shall go the way of “vision 2000” and “vision 2010” if you do nothing? 12. that those [s]elected public officials who may have employed you as a thug send their children to expensive private schools both within and outside 9geria, and your children shall become thugs to their children in the future should you do nothing? 13. that in section 17 (2) (d) it is stated that: “In furtherance of the state social order, exploitation of human or natural resources in any form whatsoever for reasons other than the good of the community shall be prevented”, yet the government of 9geria has allowed oil companies to destroy our environment, destroy our water resources and thus the livelihood of many 9gerians? 14. that 9geria’s Constitution requires in section 17 (3) (d) that: “The state shall direct its policy towards ensuring that there are adequate medical and health facilities for all persons”, yet even our public officials have to seek health care overseas at great national cost? 15. that the option of doing nothing is too costly and not a good option for you to even consider? What you can do: 1. Make a copy or copies of this message according to your ability and give to other 9gerians and friends of 9geria. 2. Get copies of this message and help distribute at mosques, churches, market places, and at other public places, and also through e-mails to 9gerians and friends of 9geria. 3. Organize 9gerian students in schools, colleges, and Universities to form 9geria Rally Movements. 4. Arrange and invite us to give talks to those groups you have helped form. 5. Study and discuss in groups the second chapter of the 9gerian Constitution entitled, FUNDAMENTAL OBJECTIVES AND DIRECTIVE PRINCIPLES OF STATE POLICY. 6. Write, sign, and send letters of protest to the National Assembly, State Assemblies, the President, Governors, Local government Chairmen, Revenue Mobilization Allocation and Fiscal Commission demanding urgent constitutional (including appropriate review of section 84 (3) and section 124 (3) of 9geria’s Constitution) downward review of salaries of 9geria’s public officials. 7. Demand for the scrapping of the Senate and putting of the House of Representatives and State Houses of Assembly on per diem (part time) basis. 8. Demand for the collapse of the 9gerian federation into 6 states according to the six geopolitical regions. 9. Demand for a constitutional requirement of at most 13 federal Ministers and at most 8 state Commissioners, respectively and pegging of Advisers at both national and state levels to the number of federal Ministers and Commissioners, accordingly in order to free resources for investment in the people and avoidance of unnecessary duplication of responsibilities. 10. Organize peaceful processions at public places such as Aso Rock, National and State Assemblies, Local government council offices, offices of the Revenue Mobilization Allocation and Fiscal Commission, and at offices of popular contractors in 9geria who collaborate with government officials to loot our commonwealth through inflated contract sums, and yet do poor jobs or at worst abandon the project without any consequences. 11. Refuse to give up even if you don’t see immediate results. 12. Refuse to quit even if you encounter persecution, whether from government or neighbors. The desired change we seek can only happen through organized revolutionary action. But for too long, 9geria’s rulers have urged them to “pray” while they prey on the hapless masses. Yes, we believe in divine intervention; but faith without works is dead. God has always worked with and through men and women who match their faith with necessary action. God will pull down our walls of Jericho, but He MUST have us walk round them 13 times. Are we ready for the WALK-LONG WALK TO FREEDOM? http://www.9jabook.com/page/nigeria-rally-movement Contact: quote http://www.9jabook.com as the source E-mail: shilgba@nigeriarally.org, cliffedo@nigeriarally.org, natapir@nigeriarally.org , nigeriarallyeurope@gmail.com TEL: 08055024356
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