In the news: Buhari presents N8.612tn budget

In the news: Buhari presents N8.612tn budget

Punch

FG’ll prosecute tax defaulters who shun VAIDS – Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, on Tuesday said that the Federal Government would prosecute tax defaulters who fail to take advantage of the nine-month amnesty period offered under the Voluntary Assets and Income Declaration Scheme.

NSE announces changes in executive management

The Nigerian Stock Exchange, on Tuesday, confirmed that its Executive Director, Market Operations and Technology, Mr. Ade Bajomo, had resigned his appointment effective December 31, 2017 to pursue other challenges.

2018: Buhari bans recruitment by MDAs, presents N8.612tn budget

President Muhammadu Buhari on Tuesday banned fresh recruitment by all Federal Government Ministries, Departments and Agencies, except by presidential approval.

Jersey Island gives FG condition for returning $300m Abacha loot

The government of Jersey Island says the $300m stashed within its territory by the late military dictator, Gen. Sani Abacha, will only be released to the Nigerian Government directly, not through any third party.

Dufil Prima Foods lists N10bn bond on FMDQ

Dufil Prima Foods Plc, following the approval granted by the FMDQ Board Listings, Markets and Technology Committee, on Tuesday listed the Dufil Prima Foods N10bn Series 1 Fixed Rate Bond under its N40bn Bond Issuance Programme (the Dufil Prima Bond) on the OTC Exchange.

There won’t be fuel queues in December – NNPC

The country will not experience fuel queues this end of year festive season, the Nigerian National Petroleum Corporation has assured the citizens.

Thisday

Banks to Adopt Basel IV Regulation from 2019

Banks in Africa, Nigeria banks inclusive, will from January 2019 be expected to adopt the Basel IV regulation, which is expected to place them at par with other global operators.

CBN Boosts Forex Supply with $195m

The Central Bank of Nigeria (CBN) on Tuesday intervened in the interbank foreign exchange market with the injection of another $195 million.

Adeosun: Offshore Tax Havens, Avoidance Schemes Not Illegal

As revelations from the Paradise Papers continue to make waves globally, the Minister of Finance, Mrs. Kemi Adeosun, has clarified that offshore tax havens are not illegal insofar as Nigerian taxpayers using such shelters have paid the applicable taxes locally before the transfer of funds or assets to the tax shelters.

FG to Launch First African Sovereign Green Bond in December

President Muhammadu Buhari has said the Federal Government will launch the first African Sovereign Green Bond in December 2017, to finance renewable energy projects.

FG Releases $200m Local Content Fund to BoI

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, has stated that the federal government has released the $200 million Nigerian Content Development Fund (NCDF) to the Bank of Industry (BoI) for Nigerian oil and gas service providers.

Recovered Loots Yet to Be Used to Fund Budget, Says BudgIT CEO

The chief executive of BudgIT, a civic organisation, Mr. Seun Onigbinde tuesday revealed that contrary to statements by some government officials that some of the recovered funds by the federal government had been used to fund the 2017 budget, findings by his organisation showed otherwise.

Guardian

NSE’s market capitalisation up by N29b

The bulls upstaged the bears on the Nigerian Stock Exchange (NSE) yesterday, as most blue chip stocks appreciated in price, causing market capitalization to rise by N29billion.

Nigeria’s refineries lose N4.54b in one month

The Nigerian National Petroleum Corporation (NNPC) has put the losses made by Nigeria’s three refineries in the month of August at N4.54 billion.

Restrictions on foreign banks affect growth, says World Bank

The rising level of restrictions imposed on foreign banks operating in developing countries has been assessed as an impediment to growth in those countries, the World Bank Group has said.

Government explains delay in clearing EEG backlogs

The Federal Government has attributed the delay in clearing the backlog of the revived Export Expansion Grant (EEG) payments to prolonged approvals from the National Assembly, adding that efforts are underway to commence the programme soon.

The Nation

Senate seeks abolition of excess crude account

The Senate yesterday resolved to ask President Muhammadu Buhari to abolish the operation of the controversial Excess Crude Account (ECA).

Fed Govt saves N24.7b from TSA, others monthly

President Muhammadu Buhari says Federal Government’s leveraging  Information and Communication Technology (ICT) and the enforcement of Bank Verification Number (BVN) has saved the nation of N24.7 billion monthly.

Fed Govt, others share N9.9b solid minerals revenue

Minister for Mines and Steel Development and Chairman, National Stakeholders’ Working Group (NSWG) of the Nigeria Extractive Industries Transparency Initiatives (NEITI), Kayode Fayemi, has said the N9.9billion revenue generated directly from solid minerals was shared among the three tiers of government in July, 2017.

Ghana seeks more trade with Nigeria

The Honourable Deputy Minister of Trade and Industry in Ghana, Hon Carlos Kingsley Ahenkorah has called on the federal government of Nigeria to allow more intra trade between Ghana and Nigeria as being done by the French speaking West African nations.

Business Day

Buhari seeks oil JV restructuring to fund 2018 budget

President Muhammadu Buhari on Tuesday outlined plans to largely fund next year’s budget with revenues from non-oil sources including an ambitious plan to restructure the nation’s shareholdings in Joint Venture (JV) companies that pump most of the oil produced by Africa’s largest oil producer.

Double edged oil rally revives petrol subsidy controversy

Nigeria claims it no longer incurs petrol subsidy costs, yet the renewed rally in oil prices make a N145 per litre price template set in May 2016 obsolete.

Reuters

Moody’s downgrades Nigeria’s sovereign issuer rating

Moody’s downgrades Nigeria’s sovereign issuer rating to B2 with a stable outlook.

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Source: Articles

A ring is a ring, Innit?

A ring is a ring, Innit?

Bola is the love of my life. I struck gold the day I found her. Refreshingly goofy and down-to-earth, from our very first date, I knew I was going to put a ring on it. She was not afraid to be herself and I could not wait to leave my heart in her beautiful hands. Two years of adventure, silliness and fierce loyalty and I was ready to take the leap.

It had to be lit, the proposal, completely dope. I wanted the kind of proposal that would bring tears to her eyes every time she recounted it. I wanted to give her a story she would not get tired of telling. So, I set to work. First off, ambience. Hmmmm, petals, candles, soft music, basically our own little paradise on the beach. A phone call from her favourite OAP telling her what time to be ready; have a complete outfit for our beach night delivered to her;arrange for her to be chauffeured to our date. Woah, the plan was coming together nice. I couldn’t wait to tell our friends.

Everyone agreed, my plan was air tight. I was pleased and sure she would be too. It took over half of my savings to put it all together, but I cared less. There was only one hitch, the Instagram vendor I had contacted for a ring sent me something that was not so great. A classic case of ‘see what I ordered, see what I got’. And it arrived late, like a few hours to action time. My babe deserved better, but I had already blown my budget and it was too late to make a hurried replacement. I would just have to be really careful when picking out our wedding rings.

Bola was blown away. The tears started flowing from the moment she arrived. She looked like a dream and I could not be more pleased. We had a pleasant time and she said yes. She said yes! But that is not where the story ended.

Early the next morning, she showed up at my door, the ring I gave her last night on her palm. Shocked beyond words, I stared on as she made her speech.

‘Hey hubby in waiting, I know I said yes but that’s cos it’s you and I want to marry you. But not with this ring. Nah, get me another ring abeg. One I can show off on social media. This our engagement is just between us o, till you get me a proper ring’. Done with her speech, she sashayed into my apartment.

‘Wait babe, it’s just a ring. A ring is a ring, abi?’

That is how I ended up buying two rings for my proposal to Bola. Two! The emergency ring bled my Money Market Fund account and left me broke. But my babe was happy, she flooded her Instagram timeline with picture after picture and the cutest captions ever. There was even a video of her flaunting the ring and singing- marriage fall on me.

A couple of months have gone by and we’ve started discussing the wedding. This time, Bola is not taking any chances, she wants to pick out the rings herself. I know an investment in love can never cost too much but I can’t stop myself from wondering; do I really have to buy her another ring? Can’t I wed her with the expeeensssive proposal ring? I mean, what will happen to that ring, does the engagement ring expire on the wedding day? What’s even in a ring sef, is it not our love that matters?

By the way, please tell that IG ring vendor not to cross my path. Thanks.

 

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Source: Articles

But I don’t smoke!

But I don’t smoke!

“Oh, I don’t smoke so I can’t get lung cancer.”

Do you think like this? Well, get ready for a shocker.

You don’t need to be a smoker to develop lung cancer. It is true that smokers are most susceptible to Lung Cancer, but even as a non-smoker, other risk factors make you a target for this disease.

Some of them are:

Second-hand smoke:

While smoking is responsible for about 90% of all cases of lung cancer, your constant presence around people that smoke can expose you to this disease. The longer you hang around your guys that smoke, inhaling their smoke, the more your risk of developing lung cancer. Now that you know this, be careful how long you stick around your unapologetic smoker friends when the cigarette is lit.

Asbestos and diesel exhaust:

Do you work in an industrial environment where the use of asbestos is common or where you constantly inhale diesel exhaust? Then you must know that long exposure to asbestos and diesel exhaust puts you at a risk for lung cancer. If you smoke and work with asbestos, that is double jeopardy. To cut down this risk, you may consider quitting cigarette smoking altogether and avoiding too much exposure to asbestos.

Age:

Lung cancer is most severe as you age. 81% of those living with lung cancer are over the age 60. This makes it possible for someone with lung cancer to live somewhat free of lung cancer symptoms until they are much older.

Inherited genes:

According to cancer.org, a small percentage of people inherit DNA mutations from their parents that put them at a greater risk of developing certain cancers like Lung cancer. So, when next you see a family with a history of lung cancer, don’t be quick to assume they are all smokers. It might just be genes bringing forward the habits of their older ones to the younger generation.

 

And just in case you are wondering why the sudden emphasis on Lung cancer, it is because November is Lung Cancer Awareness month!

 

 

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Source: Articles

In the news: CBN injects $195m into FX Market

In the news: CBN injects 5m into FX Market

Punch

We’ll consider Nigeria’s $400m loan request, says AfDB

The African Development Bank on Tuesday said it could consider Nigeria for an additional $400m loan if such a request was approved by its Board.

Nigeria jumps 24 places in ease of doing business

The World Bank’s Ease of Doing Business Report for 2018 has placed Nigeria in the 145th position. This is 24 positions better than the 169th position the nation was ranked in the 2017 report.

Shell, Eni may face trial over $1.3bn Nigerian deal

An Italian judge is expected to decide on December 20 whether to send two oil majors, Eni and Shell, to trial over alleged corruption in Nigeria, two legal sources said on Tuesday.

N797bn VAT revenue recorded in 10 months – Adeosun

The Federation Account recorded a revenue inflow of N797.51bn from Value Added Tax between January and October this year, the Minister of Finance, Mrs. Kemi Adeosun, has said.

Oil price rises to $61 per barrel

Global oil benchmark, Brent crude, rose above $61 per barrels on Tuesday after a week of gains as the prospect of increasing United States exports dampened bullish sentiment that has driven Brent crude to more than two-year highs above $60 per barrel.

This Day

Again, Nigeria’s Manufacturing Index Sustains Expansion

The Manufacturing Purchasing Managers’ Index (PMI) stood at 55 index points in October 2017, indicating an expansion in the manufacturing sector for the seventh consecutive month.

CBN Pumps Another $195m into Forex Market

The Central Bank of Nigeria (CBN), on Tuesday injected another $195 million into the interbank foreign exchange market.

Oando Records N7.1 Billion Profit After Tax in Q3

The prospects are getting brighter for Oando Plc as the company has reported a profit after tax of N7.1 billion for the nine months ended September 30, 2017, compared with a loss of N35.886 billion in the corresponding period of 2016.

NNPC: Why We Went Back to Oil Exploration in Benue Trough

The Nigerian National Petroleum Corporation (NNPC) has given reasons why it went back to search for oil in the Benue trough, saying that Total, Chevron and Shell Nigeria Exploration and Production Company (SNEPCO) which had previously explored the region did not drill deep enough in their search for oil.

Guardian

Nigeria loses 2,648.7mw to gas, line constraint

The Nigeria’s power sector lost 2,648.7 megawatts (mw) on the October 29 to line and gas constraints, according to the daily electricity generation report by the Federal Ministry of Power Works and Housing.

Investors’ wealth appreciates by 3.2% in one month

Following price gains recorded by many blue chip companies, trading on the Nigerian Stock Exchange maintained an upward trend yesterday, as investors’ wealth soared by 3.2 per cent in one month.

Submarine cable system underused after $1b investment

After several investments worth over $1 billion (N306 billion), the nation’s submarine cable system is still hampered by gross underutilization.

The Nation

Paris/London Club loan: Firms oppose temporary forfeiture of N1.4b

Three firms have raised objections to the temporary forfeiture of N1.4bilion, being part of Paris/London Club loan, to the Federal Government

Business Day

FG fails to meet deadline for 2018 budget proposal

The Federal Government has failed to fulfil its promise of submitting the 2018 budget proposal in October to the National Assembly.

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Source: Articles

The Girl Child – A beacon of hope

The Girl Child – A beacon of hope

They are the smiling faces that peddle wares while their mates are in the classrooms. They are the victims of sexual violence and rape you read about in the papers. They are the bodies that birth the future. They are the trail-blazers in decision making positions. They are more than the weaker sex. They are women who were once girls.

This October 11, the world celebrates the International Day of the Girl Child. A day that recognizes the right of girls, the unique challenges facing them in actualizing their dreams and to promote their empowerment to fulfill their human rights and compete favorably with their male counterparts.

It is a fact that 43 percent of Nigerian girls are married off before they are 18 years? These girls become women even before they have been given the chance to be girls. What if they had been allowed to go to school to the level they wanted and make decisions for their own lives?

What if the decisions they make would bring a turning point to their families and the world as a whole? A lot of what ifs…

Education is the basic right of every human being irrespective of gender. But sadly, research has shown that Nigeria holds the global record of the highest number of children out of school with a huge number of 10.5 million children most of which are girls.

According to statistics from UNESCO, improvement in girls’ education saved 2.1 million girls under the age of five between 1990 and 2009. This shows that education is crucial in equipping the girl child with the needed knowledge and power to become all that she can be.

As a parent, education is a worthy investment that you can make in the life of your girl child to prepare her socially, morally and politically for the future no matter what it takes for her to get there.

Every additional year of schooling for the average girl child increases her earning potential giving credence to the saying that empowered girls are a sure way to breaking the cycle of poverty for families in Nigeria and all over the world.

Join us on this week’s episode of ARM Life Living Benefits show as we look at issues that affect the girl child and how to deal with them. There is a gift voucher to be won at the end of the show. Look forward to it!

 

 

 

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Six types of people you see at a run

Six types of people you see at a run

It’s run day and people gather in their numbers. On your mark, get set, go! They take off. Each towards their own specific goal for participating.

Let’s group our runners in categories based on specific running goals:

 

Those who came for the snacks:

Yipee! There will be free snacks and these lot are not missing out on it. What is life without freebies?

Those who came to network:

For these ones, there’s no better place to find connections and make new friends. They come armed with their phones, business cards and enthusiasm to collect numbers.

Those who came to find bae:

It’s possible that good old cupid shot his love arrow into the crowd of marathon runners and these ones are set to find their own match. They run with vigilance inspecting their love interest with every mile. Once they find chemistry, the rest of the run is history.

Those who came to look for work:

If ARM Pensions is organising the Run For The Future run/walk, there has to be company executives present right? These job seekers come ready for an on-the-run interview. Since they’ve not gotten any response from all their LinkedIn effort, a physical casual meet may work.

Those who are just bored at home:

These ones live for fun. They’ve probably seen Season 7 of Game of Thrones and every other exciting series available and have no hope of excitement for the weekend… But they need some fun and adventure. What better way to have these than at ARM Pension’s Run For the Future?

Those who came to win:

These go-getters have only one goal. They came to play and win. From the first step, their eyes are on the prize. They are possibly team ‘fitfam’. These are the ones you see with earphones and absolute focus as they launch giant strides after another. They overtake and conquer.

Which category do you fall under?

 

If you haven’t done so already, you can still register here! www.armpension.com/rftf

 

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A rewarding investment…

Educationtrust

August heralds a new school year. A time to travel with the children, put them in summer camps or have those schooling abroad come home for some family time. While engaging the children during the holiday requires a bit of planning and budgeting, we are relieved the children are returning to school, but we are also aware of the financial commitment that will accompany the new school year.

In less than a month, school fees, hostel fees and other educational levies must be paid. If we are at that stage where the children are going off to university or secondary school next year, we may want to start planning now. It is never early to start planning for the years ahead. You might want to buy property in the country where you would like your children to school or put funds away for retirement.

Although you might not consider it as such, but the thousands of Dollars/Pounds or millions of Naira you shell out regularly to finance your child’s education is in every way an investment. It is an investment in your child’s ambition, a deposit made into their future. While the returns may not be measurable in currency notes, this investment is by all means the most rewarding of your investments and should not be handled with levity.

An investment of such great magnitude deserves to be protected in every way possible. It is important that regardless of the turn of events, your child is able to get the quality of education you desire for him/her.

Whatever stage your child is on the education ladder, a Trust is extremely beneficial. You could want to build up funds for your child’s education in the future or ensure continuity of the same quality of education in the face of unforeseen circumstances. There is so much you can benefit from setting up a Trust.

Wondering what a Trust entails and how it can benefit you particularly? Talk to us today, let us collaborate with you to map out a fool-proof plan to finance their education and secure your children’s future.

Click here to schedule a meeting with your Relationship manager.

 

Fire your Landlord- own your own home!

Fire your Landlord- own your own home!

Ordinarily, Fred’s family and the landlord’s should not have any reason to clash since both duplexes were detached with a separating wall and different gates. However, it seemed like they were still too close.  The complaints never ended, from accusations of noise disturbance to exposure to danger because of Fred’s frequent late return from work. One time, the landlord’s wife told his wife to dismiss the new help she recently employed because she dreamt the lady was fetish. Even Fred found it difficult to believe that conversation really held.

Not long after, he got a first-hand experience of the landlord’s drama. It was a public holiday that day and Fred was enjoying a beautiful afternoon. Two of his friends had come visiting and his wife also had a few friends over since she loved to entertain. Naturally, the guests had found comfortable spots to park outside the compound. Unknown to Fred, one of them had parked extremely close to the landlord’s gate. The landlord however noticed as he drove in and was enraged beyond reason. He stormed to Fred’s part of the house and made his displeasure known in more than a few words, particularly pointing out that if Fred wanted to throw parties every two days, he would have to build his own house and secure parking space next to it. All of Fred’s attempts to curtail the situation and placate the angry man were futile. A few of the guests had even come out to intervene in the situation. It was quite embarrassing to both Fred and his wife.

That night, Fred made up his mind, he was going to get his family out of this house.

As if the universe could feel his pain, later that week, accumulated arrears from contracts he had executed in the previous year were paid. It was clear the money had to be invested in a good property. What options were available? Purchase landed property and build or buy an already finished house? The decision was hardly a tough one, once he came across the offer, he just knew it was for him. Tastefully finished terrace houses, situated in a serene environment, easily accessible and properly secured. Not to talk of the play garden available to the children and spacious driveways suitable for early morning jogs. To cap it up, there was even a twenty percent discount on the properties. Wow! Talk about ticking all the boxes. His wife agreed with him at their first visit, they had found the perfect place to call home.

No one enjoys the discomfort that often accompanies living in a rented house. If like Fred, you are looking for a way to fire your landlord, now is a good time to put together a concrete plan. As the year winds down, bonuses and allowances are often paid among other unexpected income that trickle in. If you put them all together and channel the bulk of it towards getting your property, you might find that you have enough to make that leap. Especially if you take advantage of price promotions or spread out payment-plan options available. Even if you do not have enough funds just yet, it is a good time to start planning  towards owning your own home. Nothing says ‘security’ like a home to call your own.

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Source: Blog

JOB HUNTING TIP 3: Say the truth and nothing but!

JOB HUNTING TIP 3: Say the truth and nothing but!

Dear job hunter, are you prepared for that moment in your job hunting quest you sit face to face with an intended employer?

Preparation involves crossing all your T’s and dotting all your I’s; and one of the first things to get sorted is the accuracy of the information on your documents/resume.

In this video, job hunter Fish wants a job so bad but endangers an opportunity he had to get it. Why? His information on paper didn’t tally with his answers.

Don’t be put in this precarious situation.

Ensure that all information on your documents are up to date and accurate.

Don’t search the ceiling for answers when your interviewer asks if he can call one of your referees, and his choice happens to be that one referee who passed on three months ago but you forgot to edit your resume and replace his name.

Don’t be tempted to lie about your age just because you’ve searched endlessly for a job and the organization specified a certain age which is above or below your current age. You may end up blurting it out during your interview under pressure and spoil any chance of getting hired. Bottom line, be truthful with every information you share whether written or verbal. Lies always have a way of coming back to bite you.

It’s a tough world out in the labour market. When job hunting, make the best of an opportunity you get for an interview by doing a basic cross-check and a few necessary edits.

Need more helpful tips as you search for your ideal job? Then follow the Diary of a Job Hunter series every week. You’ll learn a few things that will come in handy when that job interview email, call or text hits your phone.

Meanwhile, watch Fish’s interview blunder in this funny video and don’t forget to stop over next Friday for job seeker tip three. Till then!

The post JOB HUNTING TIP 3: Say the truth and nothing but! appeared first on Realising Ambitions.

Source: Articles

Job Hunting tip – Avoid Surprises!

Job Hunting tip – Avoid Surprises!

There are certain things that should never come as a surprise to you in your job hunting journey.

Never wait till get to the interview venue to find out about the organisation you are interviewing with.

With a world of information available online, getting basic information about the organisation should be at your fingertips. Information like company’s full name, address, scope of operation, years of operation, philosophy, and the like should not be new to you. Apart from the fact that any of these can pop up during the interview session and you want to come across as adequately prepared, you will also be able to avoid embarrassing situations such as ‘Fish’ experienced in today’s episode of ‘Diary of a Job Seeker (Not seen it yet? Watch it here).

Ritualists, human traffickers, and scammers have also used the interview method severally on unsuspecting job-seeking Nigerians. Proper research into the organisation will disclose if it is indeed a legitimate ‘job offer’ or if it is the kind of ‘job’ you are hoping for.

Follow the ‘Diary of a Job Hunter’ series for more helpful tips on your quest for your new job. We hope that soon, you experience an upgrade from job-seeker to gainfully-employed. We will be excited to talk to you about the Pension options and benefits available to you.

Recently found a job? Find out what you should do next in this hilarious video.

Stop by next Friday for job seeker tip two and another dose of Fish and his travail to land his dream job. Feel free to share this post with your friends as well.

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Source: Realising Ambitions