In the news: Oil price rises to $57 per barrel

In the news: Oil price rises to per barrel

Punch

Four banks trading below minimum liquidity ratio – MPC members

Four commercial banks in the country are operating with too many non-performing loans on their books and with liquidity ratios below the minimum requirement.

Petrol price fail to crash despite Kachikwu’s assurances

Fifteen months after the price of Premium Motor Spirit, otherwise known as petrol, was increased by 68 per cent, consumers have yet to see any significant decrease in the price, contrary to the promise by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu.

CBN funding of FG excessive, says Salami

The Central Bank of Nigeria is acting like a “piggy bank” with its funding of the government, a member of the Monetary Policy Committee, Dr. Doyin Salami, has said.

Oil price rises to $57 per barrel

Oil prices rose on Wednesday in spite of a rise in US crude inventories with the market heading for its largest 3rd quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts.

This Day

Emefiele Identifies Bottlenecks to Mortgage Financing

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has identified various bottlenecks hindering genuine investors and by extension free flow of funds into the mortgage sector.

NNPC Begins Prospecting for Hydrocarbon in Sokoto Basin

The Nigeria National Petroleum Cooperation (NNPC) has said it has started the process that will lead to the exploration of oil and gas in the Sokoto Basin.

Vanguard

Union Bank’s N50bn Rights Issue opens for subscription

Union Bank Nigeria Plc’s N50 billion Rights Issue opened for subscription, yesterday, just as Forte Oil Plc has put on hold its proposed N20 billion capital raising after receiving the approval of Securities and Exchange Commission, SEC.

BoI’s loan to Kaduna MSMEs hits N47bn

The Bank of Industry (BoI) has disbursed loan in excess of N47billion to support entrepreneurs in Kaduna State in the micro, small and medium enterprises, MSMEs, category,  Managing  Director of the bank, Mr. Olukayode Pitan, has said.

Why we don’t manufacture cube sugar — Dangote

Dangote Sugar Refinery Plc has given insights into why the company is not manufacturing cube sugar despite having invested over N400 billion in backward integration projects in the sugar sector.

The Nation

Forte Oil suspends N20b offer

The board of directors of Forte Oil Plc has decided to suspend the energy group’s bid to raise new equity funds. Forte Oil had earlier secured regulatory approval to float a supplementary capital raising through a book building.

Power generation rises to 6619mw

The Minister of  Power, Works and Housing, Babatunde Fashola, has presented the Federal Government’s scorecard on the power sector for the past two years.

Experts seek more local content participation

Experts have called on indigeneous companies and industrialists to embrace local content participation as a means of developing the economy.

Guardian

Equities rebound, indices up by N124 billion

Equity transactions rebounded after a two-day losing streak yesterday, following heavy price gains recorded by major highly capitalised stocks especially Total and Dangote Cement, as indices soared by N124billion.

PENGASSAN tasks government on payment of N720 billion debt to oil marketers: The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has appealed to the Federal Government to settle all outstanding debts to oil marketers.

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Source: Blog

In the news: Nigeria’s foreign debts hit $15.05bn

In the news: Nigeria’s foreign debts hit .05bn

Punch

FIRS generates N2.5tn from taxes in eight months

The Federal Inland Revenue Service on Tuesday said it generated a total of N2.51tn from taxes for the federation between January and August this year.

Egina project’ll boost oil production by 200,000bpd

The nation’s oil production will be boosted by 200,000 barrels per day by the fourth quarter of 2018, the Deputy Managing Director of Total, a principal partner of the Egina Project, Mr. Ahmadu Musa-Kida, has said.

Oando shareholders protest, call for Tinubu’s resignation

Shareholders of Oando Plc from across the South-West states on Tuesday staged a protest in Ibadan, the Oyo State capital, and demanded that the company’s Managing Director, Wale Tinubu, should step down because of the firm’s poor financial position.

FG considers tax reliefs to fund road construction

The Federal Government said it might resort to a tax recovery funding arrangement for the execution of some major road projects in the country.

This Day

N100bn Debut Sukuk Offer Closes Wednesday

The Debt Management Office’s (DMO) inaugural N100 billion Sukuk offer will close wednesday.

Kaduna Disco Generates N1.7bn in Sokoto in Eight Months

The Kaduna Electricity Distribution Company (KAEDCO), Tuesday said it generated about N1.7 billion in Sokoto state from January 2017 till date.

Vanguard

Nigeria’s foreign debts hit $15.05bn in June – NBS

The National Bureau of Statistics, NBS, yesterday, said Nigeria’s foreign debt stood at $15.05 billion, while the domestic debt portfolio was put at N14.06 trillion in June this year.

NSE market indicators dip further by 0.08%

A total of 174.65 million shares valued at N2.83 billion were traded in 3,783 deals on the Nigerian Stock Exchange (NSE) on Tuesday.

FG set to implement ERGP, as NESG rolls out programe

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, yesterday, disclosed plans by the Federal Government to implement measures toward realising a growth target of 7 per cent by 2020.

The Nation

Flour Mills to raise N40b equity funds in three years

Flour Mills of Nigeria (FMN) Plc has registered a shelf fund raising programme with the Securities and Exchange Commission (SEC). It will allow the leading flour-milling company to raise up to N40 billion in equity funds over the next three years.

Currency speculators forced out of forex market

After recording huge losses in naira and foreign currencies, currency speculators seem to have been chased out of the country’s foreign exchange (forex) market.

Reuters

Nigeria, Libya likely to attend OPEC-led panel; Saudi may not: sources

Nigeria’s oil minister and the head of Libya’s state oil company are likely to attend a joint meeting between OPEC and non-OPEC nations on Friday, two OPEC sources said, to discuss the progress of their deal to limit output.

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Source: Blog

Abu’s NYSC PPA Ordeal

Abu’s NYSC PPA Ordeal

Three weeks of NYSC camp was finally over and Abu was shaking all over.

He had heard horror stories of remote and boring places of primary assignment. God forbid he found himself in such a place. A full-fledged optimist, Abu didn’t need boredom in his life. Not at all.

Despite the early morning bugle, meditation, strenuous drills and harassment from soldiers, the fun in Katsina camp these three weeks had been too much. Everyone, especially Abu didn’t want it to end. But everything that has a beginning must have an end. So, that end was upon Abu and his colleagues.

The List

Sitting under a comfortable shade provided by the Guava tree to avoid the scorching sun, Abu and Yinka talked about spending as much time as possible together in case of being posted to different villages. He had taken a liking to Yinka the first day she yelled at him for bumping into her at the Mami market. He loved her guts, her courage. Since then, they had become inseparable.

Soon, the pavilion ground was teeming with youth corps members all anxious to hear where they’d been posted. Before long, the names started reeling out with shouts of ‘I’m here’ echoing all over the place.

‘Abubakar Hassan!’ roared the woman. ‘See me here o’, Abu shouted as he pushed and elbowed his way to the front to collect his posting letter.

His heart beat loudly in his chest and he was sure everyone could hear the thump of his scared heart. Pushing and shoving, he finally arrived at the back to join Yinka under the guava tree.

‘Open it na’ Yinka said almost grabbing the letter from him. ‘Abeg wait jor… fear dey catch me’, replied Abu. ‘You’ll open it anyway’ Yinka said and grabbed the letter from him before making a run for it. Abu chased after her but midway, that deep female voice yelled again ‘Yinka Badmus’…

Stopping in her tracks, Yinka flung Abu’s letter at him and hurried to pick up her letter.

When she doubled back, they both decided to open their letters together. At the count of three, they opened it up and buried their faces in it.

A few seconds later, Abu lifts expectant eyes to Yinka. ‘Where were you posted?’ he asked. Yinka responded ‘Malunfashi. You?’ Abu thumped his fist into his palms and replied through gritted teeth ‘A place named Kankara.’

The PPA journey begins…  (In next week’s episode, Abu comes face to face with his Place of Primary Assignment… horror or not?)

 

 

 

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Source: Blog

When to have the “money talk” with your child

When to have the “money talk” with your child

“Kids don’t remember what you try to teach them. They remember what you are.” ~ Jim Henson

 

As adorable as children are, they are also very impressionable. They mirror what they see.

It is easier for a child to pick up a habit they see adults around them exhibit, than what they are told to do. That is the reason it is normal to see children play dress-up with their parents’ clothes and shoes. Same reason they imitate adults in phone conversations or when splattering make-up on their faces just to look like mum.

Because children are quick to learn things, it is therefore wise to mould them into the adults we want them to become from an early stage.

One way to do this effectively is by showing them who they can become by who you are. Charity they say does begin at home.

Money habits…

A vital part of parenting is teaching your children good habits. But we often forget that, when it comes to money. We think that the best time to talk about handling finances is when they are through with secondary or university education, but in truth, the right time is when they’ve learnt to count.

If you are a parent or you plan to have children, it is necessary that you start early to create a financial foundation for your kids if you expect them to make sound financial decisions as they grow. It begins with teaching them good financial habits.

But how and when do you do this?

We will answer that on ARM Life Living Benefits show on Smooth 98.1FM by 6.40pm (Lagos), 6.45pm (Abuja) and 6.00pm (PortHarcourt).

Make sure to tune in today. You could also win a gift voucher at the end of the show!

 

 

 

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Source: Blog

So You’ve Finished NYSC … What Next (2)?

So You’ve Finished NYSC … What Next (2)?

Finally, all your job search and networking after NYSC has landed you an interview. Here are timely tips to get you prepared for that interview.

  1. Punctuality: You immediately lose cool points with your interviewer when you arrive late. You can never be too early for an interview. Allow yourself enough time to reach the location – Lagos traffic can switch up on you real quick!

 

  1. First impressions: A positive first impression is crucial in an interview. Shake hands firmly with the interviewer, maintain eye contact and ask them how they are doing. Smile! You don’t have to show all teeth, but you can’t look unhappy either.

 

  1. Body language: Do not fidget! You may come off as anxious or a liar. Try and mimic the body language of your interviewer. Always appear composed, confident and friendly.

 

  1. Follow-up: Most people don’t know this, but you’re allowed to ask what the selection process is like after an interview. You should also ask for your interviewer’s email address and send them a thank you email. It allows them to match a face to your application; thereby increasing your chances.

 

For more “post NYSC ” career advice, follow us on social media @armengage. Also, when you get that job, don’t forget to sign up for a pension plan.

 

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Source: Blog

Ask Shade- Mrs. My Son is Irresponsible

Ask Shade- Mrs. My Son is Irresponsible

Dear Shade,
My husband and I have only one son who has refused to do anything serious with his life, because he assumes all of our wealth will come to him and there is no need for him to work.
Although we intend for him to inherit all that we have, I want him to learn responsibility before we hand over our group of companies to him. I would like for him to come into his inheritance only after he has successfully proven his responsibility, perhaps after having held employment with a proper organisation for a minimum of five years.
Is there a provision in a trust to ensure this happens whether or not we are alive to enforce it?
Kofo, Lagos

**

Hello Kofo,
Thanks for reaching out. Your situation is not peculiar. It is very common for children born into affluent families to grow up with an entitlement mindset. This often affects their drive and leaves them completely unambitious and reliant on the family wealth.

While it is important that we provide for our children and give them a good quality of life as much as we can afford, it is also essential that we teach them from the cradle the value of hard work and independence. We must remind them that everything they enjoy is a result of our commitment to work and that they must strive to create a life for themselves also. They should see their parents’ wealth as a good foundation, or a stepping stone, a pedestal on which they can build their own legacies, win their own laurels and claim their own victories. However, some children refuse to learn diligence regardless of the parents’ efforts.

You are thinking in the right direction. Setting up a Trust is a very effective way to preserve your wealth for your son while attempting to reengineer his attitude to work. Regarding the possibility of withholding his inheritance till he has proven his responsibility, yes, this is possible. Such exigencies can be catered to.

You can either create a spendthrift Trust or include spendthrift provisions in the Trust, which would restrict your son from directly accessing the funds in the Trust until he acts in a more responsible manner – as may be ascertained by the Trustee. The Trust would hold direct interest in your assets and would only distribute some of the returns of those assets to your son where he meets the standards of responsible living that you may have prescribed. Your assets would therefore be professionally managed and would not be dissipated by your son. Your son would, however, be able to receive benefits from the Trust over time once he is acting responsibly.

Apart from setting up the Trust, you and your spouse can also sit your son down for a long heart to heart discussion. You can lovingly explain to him your dreams and expectations of him while reiterating your confidence in his abilities and willingness to support his ambitions. You can never tell, he could have a career path he is passionate about and eager to pursue.

While it may not particularly be related to the family business, supporting him in his chosen field will give him the leeway to learn responsibility and ultimately prepare him for his family fortune. Who knows? His idea could grow into a lucrative arm of the family’s group of companies.

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Source: Blog

A matter of the heart

A matter of the heart

“I love you from the bottom of my heart.” “My heart aches at your absence.” “You’re my heartbeat.” These are some expressions of love we use to show our loved ones what they mean to us.

But apart from being an object for love expression, the heart according to www.livescience.com is that organ that pumps blood throughout the body through the circulatory system, supplying oxygen and nutrients to the tissues and removing carbon dioxide and other wastes. If the heart is no longer able to perform these functions, then there’s fire on the mountain.

Run, Run, Run…

A heart attack simply means that your heart is under attack.

To prevent something this critical from being attacked, you need to apply strategies to defeat an impending heart attack. An important strategy is early detection.

When you notice these symptoms often, it’s time to see your doctor immediately.

Moderate to severe chest pain:

Don’t ignore any severe, crushing pain usually in the center or left side of the chest which is not relieved by rest.

Dizziness

Though this may occur because of other factors, but watch out for persistent feelings of being lightheadedness, wooziness, or imbalance.

Shortness of breath

Do you often have trouble breathing? It means your heart is not getting enough oxygen. It is a sign you need to discuss with your doctor.

Nausea

While it is common to feel nauseous when you eat something that doesn’t agree with you or when you suffer malaria, be vigilant when it happens along with one or more of the listed Heart Attack symptoms.

Radiating pains in the arms and chest

Did you know that when your heart doesn’t receive sufficient oxygen to function properly, it sends impulses to your spine? When this happens, the nerves between your heart, spine and arms send impulse that cause pain in your chest and arms. If you experience this, call your doctor immediately. You may be having a heart attack.

Extreme fatigue

Fatigue is a normal feeling after a stressful day, however if you are constantly tired and fatigued, you may need to visit your doctor for a check-up.

Heightened anxiety

If you notice that you get unduly anxious often, it is a cause for concern.

 

There’s so much to live for. Enjoy more from life by treating your heart as you would treat a new born baby; fragile and delicate.

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Source: Blog

In the news: Bond Prices Rise on Liquidity Boost

In the news: Bond Prices Rise on Liquidity Boost

This Day

Equities Market   Sheds N326bn on Weak investor Sentiments

Contrary to expectations that the gains recovery witnessed in the market the previous week would be sustained last week, the equities slipped back into the bears’ territory on weak investor sentiments.

Bond Prices Rise on Liquidity Boost

The over-the-counter (OTC) bond prices climbed last week amid boost in liquidity. Specifically, the 20-year, 10% FGN JUL 2030 paper, the 10year, 16.39% FGN JAN 2022 debt, the 7-year, 16.00% FGN JUN 2019 and the 5-year, 14.50% FGN JUL 2021 debt appreciated by N0.66, N0.63, N0.70 and N0.67 respectively.

Union Bank’s N50bn Rights Issue to Open for Subscription Wednesday

Union Bank has announced that the subscription for its N50 billion Rights Issue will commence on Wednesday, September 20 and close on Monday, October 30, 2017.

FG Sets Bid Round Guidelines for Award of 46 Marginal Oil Fields

The federal government through the Department of Petroleum Resources (DPR) has set the guidelines for the marginal oil field bid round scheduled to take place later this year or early 2018 and could potentially see scores of investors jostling to acquire 46 oil acreages during the exercise.

Punch

N’Assembly will get 2018 budget next month – Enang

The 2018 Appropriation Bill will be submitted to the National Assembly in October, the Special Adviser to President Muhammadu Buhari on National Assembly Matters (Senate), Ita Enang, has said.

FG’s N720bn debt threatens oil workers’ jobs

The Petroleum and Natural Gas Senior Staff Association of Nigeria has alleged that oil marketers may have concluded plans to sack their workers if the Federal Government fails to settle the N720bn debt owed the marketers.

Invest in FG’s N100bn sukuk, CBN urges Nigerians

The Central Bank of Nigeria has urged Nigerians to take advantage of the sovereign sukuk being offered by the Federal Government in order to support the country’s infrastructural development while making money.

The Nation

Liquidity squeeze threatens settlement at equities market

The inability of investment firms and stockbrokers to access amenable funds is threatening efficient settlement at the Nigerian equities market.

AFC: Nigeria needs $3tr to fix infrastructure

The Africa Finance Corporation (AFC) has said Nigeria needs $3 trillion to fix huge infrastructure deficit in the country over the next three decades.

Vanguard

Uncertainty as N241bn outflow via Sukuk Bond, TB auctions hit interbank market

The interbank money market will  this week experience outflow of N241 billion through treasury bills (TBs) and FGN Sukuk Bond auctions, prompting uncertainty over the direction of movement in cost of funds.

11 Insurance firms pressured by N40bn rising claims

With the recent flooding in some parts of the country, coupled with increased awareness by insurance consumers in Nigeria, insurance claims have grown by over N5.9 billion in the first half of 2017, H1’17.

FMDQ approves registration of Wema Bank’s N50bn CP

The FMDQ OTC   Securities Exchange has approved the registration and listing of Wema Bank’s N50 billion Commercial Paper (CP) programme on its platform.

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Source: Blog

Financial Education- the missing link

Financial Education- the missing link

Education, in every sense of the word begins at home. Home is where we learn our first words, it is where we find our identity, it should also be where we learn the rudiments of managing and growing money. While our children might learn high level accounting in the walls of Ivy league schools or discover the tenets of business management as graduate trainees, it might be detrimental to wait till then to introduce them to the realities of financial responsibility. Especially if we desire to successfully prepare them for the legacy we are building for them.

Financial literacy refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with their financial resources. It is hence not enough to provide the resources, we must also teach our offspring to be masters of money. Our forefathers got it right to some extent, they taught us to save in the clay or wooden piggy banks we grew to cherish, we must however take it a step further. Not only must our children learn to save, they must learn to invest. Gone are the days when a good job or business and hard work was enough to cater to our needs. The successful ones today are those who have learnt not just to work to make money, but to make money work for them.

While it is essential that we provide for our children as much as we can, it is also important that they learn to grow what they have into more.

Financial goals..

It begins with setting financial goals. Our children need to learn the discipline of setting targets and meeting them. Together, pinpoint an item or experience they desire, evaluate its cost, and agree on a timeframe to raise the amount needed. With the help of investment calculators, you can figure exactly how much must be set aside monthly or weekly and make a commitment towards it. This will give the child a sense of purpose.

Bank vs Mutual Fund..

Of course, financial freedom begins with the discipline of consistent saving. What makes the big difference is how the saving is done. While your children will learn that they can preserve their money in a bank, it is even more exciting to watch their money grow in a mutual fund. Mutual funds like the ARM Money Market Fund offer competitive interest rates without any risk to the capital. You can open a Money Market Fund investment for your child with as little as 5000 Naira. From the comfort of his or her phone, your child can top up that investment with the agreed sum to be saved or even the extra change left from his/her weekly allowance. Together you can access their dashboard on the ARM Wealth planner and view the amount invested so far and accrued interests. When the target is met, the funds can be redeemed online from the same Wealth Planner portal.

Long term investments…

While mutual funds can cater to short term financial goals, children need to learn the wisdom of identifying and maximising investment opportunities. After mastering the art of consistent investing, they must learn not to expend the accumulated resources on immediate wants but to tie down funds in instruments that can become assets. From the comfort of your home, you can help your child purchase shares, stocks, or even bonds from the ARM Stocktrade portal. With the avalanche of research and market insight available on the portal, you can teach him/her to recognise opportunities and trade successfully in the stock market. Especially at special periods like birthdays and celebratory seasons when children receive financial windfall, such monies can be invested in financial instruments and your child can monitor the growth of their investment online. This supersedes merely buying shares in their name.

Once they have mastered the discipline of consistent investment early in life, say from their teenage years, they will find it extremely easy to grow their finances as they advance in life. A child educated financially will understand the need to open a Pensions account from his very first job. He will also be able to understand the many benefits of Insurance and estate planning, thus preparing for a life of financial freedom and success in every facet of life. Financial education is indeed the link between a dependent child and an independent financially free adult.

Investment calculators as well as explicit information regarding mutual funds, stocks, bonds, estate planning, pensions, and insurance are available on the ARM WebShop. Visit www.arminvestmentcenter.com to explore the possibilities.

 

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Source: Blog

Ten points to note before investing in stocks

Ten points to note before investing in stocks

Stockbroking can be a profitable investment avenue largely misunderstood by many.  With the digital age and ease of online investing, questions abound about how it works, who should invest in stocks, what kind of stocks to buy, when to sell and whether it should be considered for short or long term investing.

To answer some of these questions and shed more light on the science of trading in stocks, let us consider nine points everyone should note before investing in the Stock Market.

  1. You are buying more than just shares, you are buying into a company
  2. Buying a stock makes you a shareholder which means as the company profits, you profit as well. If the company does not profit, you also do not profit.
  3. A stock’s price is determined by the company based on their industry, economic environment, customer base and political climate.
  4. Before investing, it is wise to research into the organisation you are interested in as well as other stock market updates within your reach.
  5. Your gut feeling or perception is important in stock broking. Never rely on it alone, always get expert investment advice as well.
  6. Have an investment plan that will guide your investment choices. Ascertain whether or not you want to invest long or short term.
  7. Never invest all you have at once. Always have some money reserved for opportunities that come up.
  8. Shares should not constitute all your assets, diversify your investments.
  9. Monitor your stocks, even if it is a long-term investment. The stock market is dynamic and ensuing developments might affect you in the long run.
  10. Always go through the right channel when investing in stocks. Speed of execution, availability of advice, update speed and information supply are some of the things to consider when selecting a stock broker.

With all the above checked and confirmed, you are ready for a rewarding stock trading experience. Sign in to ARM Stocktrade, and enjoy the ease of investing from the comfort of your home, via any internet enabled handheld device. With real time updates and access to research reports, you have everything you need to make favourable stock trading investments.

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Source: Blog