Minimum Wage: TUC Warns Of Imminent Strike
The newly elected President of the Trade Union Congress, Quadri Olaleye, on Sunday said the union would issue an ultimatum for an industrial action if the Federal Government continued to delay the implementation of new N30, 000 minimum wage. Click here for more.
Govts, oil firms, manufacturers borrow N8.24tn from banks
The total loans given to the oil and gas, manufacturing sectors and governments by banks in the country stood at N8.24tn at the end of March. Latest data obtained from the National Bureau of Statistics revealed that loans given to the oil and gas sector stood at N4.686tn, while the governments got N1.368tn. Click here for more.
Nigeria Accounts For Bulk Of Africa’s $90 Billion Stashed Assets
The Independent Corrupt Practices and other Related Offences Commission (ICPC) has said Nigeria accounts for the bulk of Africa’s $90 billion assets stashed abroad yearly. It regretted that the continent never received the same amount in aid from development partners in 12 months. Click here for more.
NSEASI Dips By -2.41% WoW To Close The Week Negative As Airtel Listing Lifts Market CAP
Equities market closed friday on a negative note, as NSEASI depreciated by 0.51% to close at 28,566.79 points as against 1.86% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -9.11%. Click here for more.
Pension Funds in Nigeria Continue their impressive performance in Q2 2019
Analysts at Quantitative Financial Analytics have measured the performance of Nigerian Pension funds based on available data and information at our disposal. It is noteworthy to report that Nigerian Pension funds continue to impress investors with positive returns, although they have been coming in trickles. Click here for more.
SEC Intensifies Drive To Reduce Unclaimed Dividends
The Securities and Exchange Commission has announced plans to collaborate with relevant stakeholders to sensitise investors on the need to regularise their multiple accounts to enable them to claim their dividends. Click here for more.
Nigerians Abandon 10m Bank Accounts In H1’19
Nigerians abandoned 10 million bank accounts in the first half of 2019 (H1’19) prompting the number of inactive bank accounts to rise sharply by 26 percent, year-on-year, during the period.Nigerian Inter Bank Settlement System, NIBSS, disclosed this in the June 2019 edition of its ‘Industry Customer Bank Account Data’. Click here for more.
Rescuing data challenge at PenCom with technology
The current registration system at the National Pension Commission (PenCom) is limiting its potential. Of course, with the new initiatives aimed at enhancing the contributory scheme, there is a need for efficiency. Click here for more.
1.01m Passport Applications Received in 2018 – NBS
The Immigration Statistics for 2018 reflected that a total of 1,011,158 passport applications were received in 2018 as against 720,958 received in 2017. This represents about 40.25% positive growth. 173,461 of the 2018 figure are minor, 779,905 are adults and the remaining 57,792 are senior citizen. Click here for more.
Seplat To Increase Shareholders’ Value With $700 Million Gas Investment
As part of efforts to increase shareholders’ return on investment, Seplat Development Company Plc has announced plans to accelerate the development of its $700 million ANOH investment to deliver first gas by the first quarter of 2021. Click here for more.
Stanbic IBTC issues sober, yet optimistic message after losing N2.5 billion case
After nearly ten whole years of protracted litigation, the Supreme Court recently upheld a ruling requiring Stanbic IBTC Holdings Plc to pay the sum of N2.5 billion to Mr Patrick Akinkuotu and Longterm Global Capital Limited. In response to the ruling, the company informed the Nigerian Stock Exchange and the public that the full payment has been made. Click here for more.