₦airaland Forum

nna777:
Congrats. I was tempted to sell some when it hit #9. I will reload Monday. It has proven consistently that when it forms a new support, it doesn't go to a lower low.

For anyone who still has doubts, UACN is the new DANCEMENT
B
It is not a case of slow and steady but steady and sure

What a sudden change, if I may ask what is UACN recent EPs and PE ?

https://thenationonlineng.net/anambra-pays-minimum-wage-from-january/

https://politicsnigeria.com/sokoto-state-begins-payment-of-n30000-new-minimum-wage/

States are responding positively to 21 days deadline given to them which will expired by 31st of this month. https://www.legit.ng/1291707-minimum-wage-state-governors-deadline-trade-union.html , Rivers state will not be exceptional.

I hard that we may even receive our minimum wage arrears this month. It will be a huge embracement that state like Sokoto, Kastina e.t c started payment of minimum wage, while Rivers state is visited with strike action.

So far it's only Federal government, Kaduna state and Lagos state that has paid minimum wage, other state just consented to start this month. Am seeing Rivers state paying this month, and will pay even before the others state whom have agreed to pay this month.

What is holding Rivers state to join in the broadcast of paying this month is the consequential adjustment, which I heard that state chapter of labour presented about 43%, which the state government didn't agree.

But last last, Rivers state consequential adjustment will be above that of Federal government standard, maybe second or third, after that of Kaduna and Lagos.

Good morning all, just to remind us that the bull is just starting its season one, and many other season to follow. There are many stocks at their current price that will still return above 50% within a shot period this year, that is very very soon. If you still have cash at hand please do well to join in this current season one.

Remember that bull will usually stop by for water drinking break before moving on, but in this current one the break will not be much.

thebargainhunte:
Brent looking bearish.

With current pointing of hand and shaking of table between American and Iran, Brent will soon skyrocket.

RabbiDoracle:
All sectors will receive the bashing that is coming.

That decapitation that Agba and Mendes were singing last year, this is the period it will happen.

That was why I told them that there must be a wicked bull before that.

The bull present in the stock market is on course, it will be a positive game changer to many as I foretold last year . It may likely extend up to March ending, or above. The only thing that is posing a threat to it currently, is the ongoing shaking of table between the American and Iran. The American and Iran shaking of table will favour oil stock in the long run. While in the short run, the locally manufacturing companies will benefit as a result of border closure.

https://punchng.com/tuc-for-crucial-meeting-over-minimum-wage/

TUC for crucial meeting over minimum wage
Published January 8, 2020

Olufemi Atoyebi, Abuja

Leaders of the Trade Union Congress are expected to meet with state councils in Lagos on Wednesday and Thursday to review the minimum wage compliance in the states.

On Tuesday, the Nigeria Labour Congress met for several hours in Abuja where they analysed the reports of the minimum wage compliance.

The new wage structure was signed into law by the President, Major General Muhammadu Buhari (retd.), on April 18, 2019, while both the Federal Government and organised labour agreed on consequential adjustments on October 18, 2019, after negotiations.

After the agreement between the FG and labour, negotiations shifted to states, with the NLC directing its state leaders to commence negotiations with their governors.

The body said negotiations must be completed on December 31, 2019.

The PUNCH reported on Friday that no fewer than 15 states had yet to conclude negotiations on the N30,000 new minimum wage two days after the expiration of the deadline, which labour gave governors to sign agreements with their workers.

Investigations by The PUNCH showed that Ekiti, Cross River, Benue, Gombe, Osun, Sokoto, Oyo, Niger, Ogun, Enugu, Bayelsa, Rivers, Kwara, Taraba and Anambra states had not agreed on the consequential adjustments of salaries as a result of the new minimum wage.

On Thursday, labour directed its state councils to complete all negotiations before its meeting in January. It also soft-pedalled on sanctions against states that failed to meet the deadline.

In an exclusive interview with our correspondent on Monday, the National Chairman of the Joint Negotiating Council, Abulrafiu Adeniji, said state governments had had enough time and that labour would soon meet to review their compliance level.

Also on Monday, the NLC President, Ayuba Wabba, said on Channels TV that only 10 states had completed negotiations over the new wage structure.

In an exclusive interview with our correspondent on Tuesday, the Secretary General of the TUC, Origi Musa-Lawal, said they would commence full review of the minimum wage compliance in Lagos today.

He said, “We are bringing leaders from the states to Lagos to discuss all issues that affect workers. The minimum wage will be part of the discussions. There is no way that we will not discuss it. It is the issue on the ground, so we cannot ignore it.

“We want to receive reports from the states. This will help us to plan our strategy to make the state governments comply.”

He added, “The National Action Council and Central Working Committee meeting of the TUC will hold on Wednesday while the National Executive Council meeting that will involve all leaders will hold on Thursday. It will review situation in every state.”

Meanwhile, the General Secretary of the NLC, Emmanuel Ugboaja, told our correspondent through a text message that they had been analysing reports from states.

Now is an appointed time for Mr bull. Happy new year to all.

https://punchng.com/minimum-wage-negotiations-labour-soft-pedals-as-15-states-miss-dec-31-deadline/

Minimum wage negotiations: Labour soft-pedals as 15 states miss Dec 31 deadline
Published January 3, 2020

No fewer than 15 states have yet to conclude negotiations on the new minimum wage two days after the deadline the organised labour gave governors to sign agreements with their workers.

Rivers workers, govt at loggerheads over consequential adjustments

In Rivers State, labour and the state government have yet to reach an agreement on the minimum wage for civil servants.

State NLC Chairperson, Beatrice Itubo, told one of our correspondents that although the state government had agreed to pay the N30,000 minimum wage, the issue of consequential adjustments had not been sorted out.

Itubo disclosed that the state government and labour would meet on Monday to iron out the issue of consequential adjustments.

She said, “We are still discussing. We have come with our position and they (Rivers State Government) have also come with their position. So, we are back to the drawing board and by January 6, I want to believe that we are going to come up with a truce.

“They (state government) didn’t argue about the N30,000 minimum wage. Where the argument is coming from is the consequential adjustment. The issue of the minimum wage is a no-go-area.”

https://punchng.com/n530-8bn-budget-wike-earmarks-n8bn-for-minimum-wage

Published December 18, 2019
KINDLY SHARE THIS STORY

Rivers State Governor, Nyesom Wike

Chukwudi Akasike, Port Harcourt

Rivers State Governor, Nyesom Wike, has earmarked N8bn for state civil servants to take care of the new minimum wage.

The governor disclosed this on Tuesday while presenting a budget proposal of N530.8bn to the State House of Assembly for the 2020 fiscal year.


Wike also set aside N5bn to cover the recruitment of new employees into the state civil service.

The state’s 2020 budget was christened ‘Budget of Reassurance, profound impact for inclusive growth and shared prosperity’.

The state government in 2019 budgeted N480bn for recurrent and capital expenditure.

Presenting the 2020 budget proposal to the State House of Assembly on Tuesday, Wike said that the budget had recurrent expenditure of N156,659,436,569.00, while capital expenditure would take N374,153,920,743.00.

Wike said, “The capital expenditure for 2020 is estimated to be N374,153,920,743.00, which constitutes nearly 70 per cent of the total budget.

“The summary of sectoral allocations of the capital expenditure are as follows; administrative sector, N15,061,008,000.00; economic sector, N136,444,523,766.60; law and justice, N2,400,000,000.00; social sector, N138,558,553,322.35; special head, N57,367,124,462.05, and loan repayments N24,322,731,192.00.

“The substantial increase in capital over recurrent expenditure, once again, reflects and underscores our commitment to direct more resources to the growth and productive sectors of our economy.

“This administration is poised to fulfill every promise it made to our people. Consequently, various expenditure portfolios have been allocated to all the relevant MDAs to fund capital expenditures and deliver physical and socio-economic infrastructure and development for our people.”

“The sum of N70,227,748,472.32 is earmarked for salaries and wages; N8,000,000,000.00 for the new minimum wage, while N18,429,375,634.45 is for overheads.

“Also, N5,000,000,000.00 is set aside for new recruitments, N3,000,000,000.00 as counterpart fund for pensions, N900,000,000.00 for death benefits and N33,176,728,931.33 as monthly pensions and gratuities.

“Government has also provided over N400,000,000.00 as counterpart contributions for donor programmes.”

Wike stated that the sum of N93.9bn had been provided for the Ministry of Works to continue to fund the strategic road development programme for 2020.

https://thenationonlineng.net/faac-shares-n635-826bn-for-november-2019
For those interested to know, FAAC shared money yesterday 18th December, 2019.

TheWatchDog:
Please oo, how much will this minimum wage going to add to our salary? Will it be up to 15K?

Wait till alert come, it will follow the alert of December or that of January. If it will follow that of December, our December salary will come late, if it will not follow, our December salary will come early, then our January salary will come with addition of minimum wage adjustment.

https://thenationonlineng.net/implement-minimum-wage-before-dec-31-or-risk-strike-nlc-tells-govs/

Implement minimum wage before Dec. 31 or risk strike, NLC tells govs
December 12, 2019 in News, News Update

Frank Ikpefan, Abuja

The Nigeria Labour Congress may shutdown some states over the non-implementation of the N30, 000 new minimum wage signed into law in April this year by President Muhammadu Buhari.

The NLC have given the governors of these states December 31 to conclude all negotiations on the consequential adjustment and begin full implementation of the wage.

It said that some states have so far failed to setup a negotiating committee between them and organised labour on the consequential adjustment of salaries.

The NLC stated this in a communique issued at the end of a one day stakeholders’ meeting on the implementation of the new national minimum wage in Abuja.

The communique was jointly signed by NLC President, Comrade Ayuba Wabba, its General Secretary, Comrade Emmanuel Ugboaja, and National Chairperson, Joint National Public Service Negotiating Council (Trade Union Side), Comrade Abdulrafiu A. Adeniji.

It noted that organised labour could not guarantee industrial harmony in any state that failed to implement the new wage.

Some of the state who are yet to setup negotiating committee include: Bauchi, Yobe, Rivers, Benue, Gombe, Kwara, Imo, Osun and Ekiti.

Others are: Oyo, Anambra, Taraba, Cross River, Ogun, Enugu, Nasarawa, Plateau, Kogi and Delta States.

It noted that oranised labour in the states would work in harmony to ensure that all workers enjoy the full benefit of the new national minimum wage.

It commended Kaduna, Kebbi, Lagos, Adamawa and Jigawa State for the implementation and payment of the new national minimum wage.

The communique reads: “Each State should immediately convoke an emergency State Executive Council meeting and State Congress of all workers to brief them of the outcome of the stakeholders’ meeting on the new national minimum wage implementation;

“States that are still on the discussion table (Category 2) should expedite discussions to conclude the negotiations on or before the 31st of December 2019;

“States which have not commenced discussion should quickly constitute a Negotiating Committee and expeditiously conclude discussions on salary adjustment consequent on the new national minimum wage on or before 31st December, 2019; and

“In the event that any state fails to comply with these resolutions on or before 31st December, 2019, organised labour would not guarantee industrial harmony in such states.”

For long now I noticed that any stock that moves up faster before releasing of their result most at time have bad result, and most good stocks that drop in price before their releasing of result come out with good result.

I just went through about two pages, and remember those days. But truth about the matter is that the word battle will definitely come to an end, we are all brothers and sisters in the lord ( bnsitl), were is our brother Ihedioramma ?.

The performance of FCMB was not discussed. What real happen to FCMB, most tier 1 and 2 bank outperformed their last year earning per a share, only for FCMB to have step backward?
Fidelity made 74 kobo EPs in 2019 q3 against 62 kobo EPs in 2018 meaning that they move step forward by 12 kobo. While
FCMB made 54 kobo EPs in 2019 q3 against 57 kobo EPs in 2018 meaning that they move step backward by 3 kobo. Truly it's below my expectation, they should try harder to improve by q4.

PETERiCHY:
DECEMBER TONIC

When the Baboons and Monkeys heard that the Man who used to chase them away from the maize field had died, they hysterically celebrated.

The following year, there was no maize, that is when they painfully realized the dead Man was the Farmer!

Under all conditions, learn to live with your enemies, You might reject them now but, soon you will realize that they were the only pillars you needed.

Not all enemies are enemies, Some are mere wailers Others are imaginary haters.

Lets' love one another despite our differences

Interesting

Access/Diamond bank just responded

mendes911:
Assumption!

What if NSE has gotten it's own share already?

Either way, we are waiting for another round of 10-15% sharing. If you know, you know.

Obene#

The recent bull might be as a result of insiders who have already gotten the information before the announcement.
They shifted their boundary to NSE before final the information was made public.

https://thenationonlineng.net/lagos-commences-payment-of-n35000-minimum-wage-november/
Lagos state government has said it will commence payment of the new minimum wage of N35,000 with effect from November.

This was contained in a circular dated 27th November 2019 addressed to heads of all Ministries, Departments and Agencies, MDAs, in the state and signed by the Head of Service, HOS, Hakeem Muri-Okunola.

The HOS said the payment of salary for the month of November is delayed beyond 23rd day circle in order to adequately process payment of the new wage.

“The consequential increase of the new minimum wage for senior and management grade levels is as follows: GL 07: 30 per cent; GL 08-10: 25 per cent; GL 12-14: 22.5 per cent and GL 15-17: 20 per cent”, the HOS said.

He said the approved minimum wage and consequential adjustments are more than the Federal Government’s approved recommendation which further demonstrates the administrations commitment to staff welfare.

TheWatchDog:
Only one single source of income is very bad. If the alert is coming in left, right, back, and front, their will be no need to even talk about this Rivers State amnesty allowance without increment for the past 5 years. May God help us.

Seriously you are on point, depending only on government payment as only source of income till retirement is next door neighbor to suicide mission. There are many business one will engage himself, which will not in anyway conflict with ones official duty. Like Poultry farming business, investing and also trading in Nigeria stock exchange market which is legalize.

kingsjeroneyah:
Faac held on Wednesdays 20th Nov, and was publish online on Thursday 21st Nov.
Now, it takes 3 working days to materialized, therefore if all things are equal, we can expect it anytime from tomorrow being Wednesday.
But that being said, there is no diff between Wednesday or Thursday.
Just let it come before 30th.

Last months it was shared on Thursday 17, October 2019, and alert entered on 25th been 8 days and six working days from the period it was shared. In this month it was shared on Wednesday 20th and Thursday 28th, this week will make it 8 days and 6 working days too. All thing been equal it will land Thursday, or better still tomorrow.

Remember we are just keeping ourselves busy with this post of expectations, thanks for your understanding.

PETERiCHY:
A DEBT of N501B acquired via COP DEAL in 2014 was DRASTICALLY reduced within 4yrs to N109B as Dec 31st 2018 and you didn't see that as a big IMPROVEMENT

Well WALE and GANG have gone past that stage and are now talking of more ACQUISITIONS. Exxon Mobil assets in Nigeria

The fresh RIGHT ISSUE it's a PLOY for WALE & GANG to gain more CONTROL so they can VOLUNTARY DELIST when the COY becomes TOO PROFITABLE. Hete is where MPeace N50 valuation comes in

Those buying OANDO now are sitting on a GOLDMINE while the FATE of those that bought before the COP DEAL are in WALE's hand.

*ThE OcToPuS*

My concern is that they sold their assets to pay major part of their debt, and they are not done , the shareholders might wake up one day only to hear that they have sold the oil assets they bought from ConocoPhillips. With last year drama between the northern gang and Wale Tunubu, do you think that he is still using short spoon? The answer is no, with all this technical reducing of function of vice president, you think Wale is not seriously thinking of the perfect way out, with forward looking statement.
I have no doubt that the current government might not favour Oando on going forward, as 2023 election underground work has started.

Johnsonbet365:
please everyone what's the procedure to open a account with Morgan capital because I can't find their app to download and where do I need to make the deposit in other to get started please everyone

Ogg
Cp
RO and other pros in the house can someone please take me by hand on how to get started

Follow this link to request for their account opening form. http://www.morgancapitalgroup.com/register.php

Once they sent it to you, download, fill and snap/scan it, upload it with other requirement you will see in the downloaded form, then send it back to them through their email that appeared in that form.

I would have send the downloaded form, but nairaland handler don't permit it, because as I attached it together with this post, the post was not allow to be published. I would have forwarded it to our WhatsApp page if you are already a member.

PETERiCHY:
April 04, 2019 / 10:17AM / By Reuters


Nigerian oil company Oando PLC aims to raise fresh capital over the next two years and repay debt used to acquire Conoco Phillips’ Nigerian assets, its chief executive Adewale Tinubu told Reuters.

Tinubu said Oando PLC has paid over 77 percent of the acquisition debt and plans to pay-off the rest in 12 months, which would allow it to resume dividend payments. He said Oando would be left with total debt of $300 million.

https://www.proshareng.com/news/Stock%20&%20Analyst%20Updates/Oando%E2%80%99s-Plan-to-Deleverage-and-Remain-Profitable/44748

Those of us warming up for OANDO RALLY cum XMAS RALLY rightnow

How did they pay their debt? By selling most of their subsidiaries and their assets, not mainly from their gain. Anyway it's good to settle their debt, but in raising fresh money will be in the way of right issue, and will neutralize their price the more immediately after the offer, because the number of their outstanding share will rise.

Their debt is still huge 300 million dollar.
300 million dollar is equivalent to 108,750,000,000.00 Nigerian Naira ( one hundred and eight billion, seven hundred and fifty million naira)

PETERiCHY:
APC reclaiming more states is guaranteed that WALE will OVERCOME the current BROUHAHA.

With F/Y 2019 PAT the remaining CONOCO-PHILIPS debt will be PAID in FULL.

So don't EXPECT the anticipated RIGHT ISSUE that will take place in 2020 to come CHEAP or less than N10 per share.

In conclusion just like DANGOTE Flour. & DIAMONDBK.
OANDO has seen it WORST years and will definitely be a GOLD MINE for those that took POSITION @t sub N4.

*ThE OcToPuS*

If it goes the way of Diamond and Dangote flour, that will be good for them, but if it goes the way of Skye bank, that will be worse for them.
Anyway it's 50/50.

If both didn't happen, they might have Japaul oil experience.

RabbiDoracle:
What banks did was to stop at Ore to buy Gala and Lacacera.

Access is busy drinking Redbull for more energy

UBA is drinking Redbull and about to go for Oshogbo w....

GTB and Zenith may lead this bull unlike Access (seen last 2 weeks) . Watch that space. They have both gone on training with Usain Bolt

Don't discount the Tier 2 banks. Those ones are at one corner taking Oshogbo w....

Zenith , Fidelity, FCMB and GTB will welcome January to March bull. They are just resting.

Chibuking81:
ACCESS, FCMB, FIDELITY, UBA, ZENITH and GTB, you just mentioned are NSE poverty bulldozer, money making/minting machine . If you are still poor in this forum and you are not lazy but hard working and you have money in your hand. Look for above mentioned stock and fix your money now and leave it for at least 9 months. You can as well be making your monthly contribution on them, at this their give away price.

Between now and next 9 months get ready to add value to your worth, those in poor stage, with that they have invested, they will leave poor line at least to average stage, thousandnaire will become millionaire, millionaire to multimillionaire/ billionaire, because almost all the mentioned stocks will give you bonus of more than #1 for every #1 you invested on their current price, on or before next 9 months. Meaning almost all the mention stocks will rise to above 100% from their current price.

We are in bonanza period, soon we shall be moving to money transformation period as well known as bonus period.
Bonanza to Bonus

( The above was posted on June 12, 2019. Nine months still counting, five months gone, four more months to go)

Good evening all

Revenue generated are always shared the following month, that's why revenue generated in the month of October was shared yesterday in the month of November, 2019. And will use to execute both the capital project and payment of wage bill for the month of November.

https://dailypost.ng/2019/11/21/faac-fg-states-lgs-share-n702-058bn-see-breakdown/

Daily Post Nigeria

BUSINESSFAAC: FG, States, LGs share N702.058bn [See Breakdown]Published 1 min ago on November 21, 2019 By Fikayo Olowolagba

The Federation Accounts Allocation Committee (FAAC) on Wednesday shared a total of N702.058 billion to the three tiers of government for the month of October.

This was announced in a communique read by Accountant General of the Federation, Mr Ahmed Idris after the FAAC meeting in Abuja.

Idris said that N702.058 billion comprised revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory Revenue.

He explained that the Federal Government received N295.7billion, the States got N192.697 billion, and the Local Governments received N144.9 billion.

He stated that the oil Producing states received N49.1 billion as 13 per cent derivation revenue and the Revenue Generating Agencies got N19.472 billion as cost of revenue collection.

He, however, disclosed that the gross statutory revenue for the month of October 2019 was N596.041 billion

He added that it was lower than the N599.701 billion received in the previous month by N3.660 billion.

He said the revenue from VAT was N 104.910 billion as against N92.874 billion disbursed in the preceding month with an increase of N12.036 billion recorded.

According to him, the exchange gain yielded a total revenue of N1.107 billion.

He said as at 20th November, the balance in the Excess Crude Account was 324 million dollars.

He further stated that from VAT, the Federal Government received N15.107 billion, the States got N50.357 billion, the Local Governments received N35.250 billion while the Revenue Generating Agencies had N4.196 billion.

He acknowledged that for the month of October, revenues from Companies Income Tax (CIT), VAT and import duty increased remarkably, while Royalties, Petroleum Profit Tax (PPT), and Excise Duty decreased significantly, NAN reports.

Idris noted that the committee was glad with the increase in revenue and expressed hope for its sustainability.

Apraise:
Please source of information. Thanks

FAAC has not yet meet to share any money this November, they might do that before this weekend.