₦airaland Forum

megawealth01:
Abeg those guys that released the remaining MANSARD for me this morning... Thanks oooooo

You should have wait for market to close before the thanks. As investors we should always be close to both local and international news, to help our business. The news around the world currently didn't favour the market.

gibayebatubo:
I pray we get December salary before 25th

Expect your salary on Wednesday 23rd December and Thursday 24th December.

Mcy56:
This question is meant for the gods.......
Only God knows tomorrow.

However, let me use my small knowledge to reason the question.......
Christmas week will likely not present buying opportunity if you're looking at major pullbacks..........it's end of the year, end of financial year, lots of activities and manipulations may likely take place.
Those well seated at discounted prices will be likely favoured while those buying around that time may either be lucky or buying at higher prices.
If your target is dividend, maybe you just have to exercise more patience and allow the festive euphoria to go first.........keep your cash, keep eye on Mr. Market and be watching out for buying opportunities.......
You may gamble with some change in some selected stocks anyway, if you're the gambling type.

This is just my learner's opinion. I get plenty bosses that can advice you better here.......don't know why they all went "solo" these days........

Well said. Q1 2021 will likely present entry opportunities because about 1 trillion will be moving to NTB, between December 31st and March.

temple4real:
The Federation Accounts Allocation Committee (FAAC) has shared a total of N601.110 billion November 2020 federation account revenue to the Federal, States and Local Government Councils and agencies.

According to a statement issued on Wednesday, the figure was announced after the Federation Account Allocation Committee (FAAC) meeting for the month of December 2020 held at the Federal Ministry of Finance headquarters, Abuja.

The meeting was chaired by the Permanent Secretary, Federal Ministry of Finance, Alhaji Aliyu Ahmed.

The total distributable revenue of N601.110 billion comprised statutory revenue of N436.457 billion; Value Added Tax (VAT) revenue of N156.786 billion and augmentation of N7.867 billion from the Forex Equalisation revenue.

The gross statutory revenue of N436.457 billion available for the month of November 2020 was higher than the N378.148 billion received in the previous month by N58.309 billion.

The gross revenue of N156.786 billion available from the Value Added Tax (VAT) was also higher than the N126.463 billion available in the previous month by N30.323 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that from the total distributable revenue of N601.110 billion; the Federal Government received N215.600 billion, the State Governments received N171.167 billion and the Local Government Councils received N126.789 billion.

The relevant States received N31.392 billion as 13% mineral revenue, while the cost of collection, transfers, and refunds had an allocation of N56.162 billion.

The Federal Government received N190.122 billion from the gross statutory revenue of N436.457 billion; the State Governments received N96.433 billion and the Local Government Councils received N74.345 billion. N30.370 billion was given to the relevant States as 13% mineral revenue and N45.187 billion was the total cost of collection, transfers, and refunds.

The Federal Government received N21.872 billion from the Value Added Tax (VAT) revenue of N156.786 billion. The State Governments received N72.906 billion; the Local Government Councils received N51.034 billion, while the cost of collection, transfers, and refunds had an allocation of N10.975 billion.

From the N7.867 billion augmentation from the Forex Equalisation revenue, the Federal Government received N3.606 billion, the State Governments received N1.829 billion, the Local Government Councils received N1.410 billion and the relevant States received N1.022 billion as 13% mineral revenue.

According to the Communiqué, in the month of November 2020, Petroleum Profit Tax(PPT), Import Duty, Excise Duty, Value Added Tax(VAT), and Oil and Gas Royalty decreased substantially; while Companies Income Tax (CIT) recorded a sharp drop.

The balance in the Excess Crude Account (ECA) as of December 16 was $72.411 million.

https://leadership.ng/faac-shares-n601bn-for-december/?amp=1
that's good news.
Salary payment, Wednesday 23rd/ Thursday 24th December, 2020.

Mcy56:
Oga, ETI is 6.45 now........

Most of the stocks with bad result has monitoring searchlight monitoring the trading activities. With ETI news of poor result how many outsiders do you think that enter the vehicle newly? It's just an inside pumping, once reasonable amount from outside join the vehicle, believe me you will experience serious dumping.

Mcy56:
Better dont worry yourself much about GTB.
If you're inside the bus and entered at low price, just relax and allow the Mafias to do their things....while you look for another lesser stock to worry about, if you must worry.

Don't trust them, they more you look the less you see. Market is gradually moving toward one direction, before 31st December watch your back, and before 14 January, also 28 January.

Good morning all
We should always remember that stocks that loss 10% today can gain 10% tomorrow, likewise the stock that gain 10% today can loss 10% tomorrow.

But dividend investors keep winning.

abraolas1:
Hi All Just want to ask this

is there a possibility of one buying now to qualify for Zenith Bank Dividends

OR

What are the best Dividends stocks out there that you all can recommend

any help with this will be appreciated

CC: Obagadaffi , Locodemy, Mcy56

Thanks

The answer is yes, if you buy now, you are qualify for Zenith bank dividend, even next year before their qualification date. Remember q4 have not been concluded, it come to final on 31st December. And the quoted company have 90 days timeframe to release their result, that is up to March ending.

It will be more better if you will wait and observe the market and recession presence before entering into the market at this point in time.

Ebenezer2021:
faac never attend meeting yet oh, be like na tomorrow Monday cos I never see any updates from them

They have. Check the two link below.
https://thenationonlineng.net/faac-shares-n604-004-to-federal-states-councils/

https://www.channelstv.com/2020/11/18/faac-shares-n604bn-october-2020-revenue-to-fg-states-and-lgs/

emekatex:
For you not to have responded up till now is an indication that you gave the house wrong salary alert which is very bad. please you have to be serious with any information you write here because alot of us depends on it for up date. Thanks.

It's obvious that it might be ATM charges alert she saw. salaries come 7/8 days after FAAC, which fall on next week Wednesday/Thursday, so expect your salary before the end of next week.

temple4real:
The Federation Accounts Allocation Committee (FAAC) on Wednesday shared a total of N604.004 billion to the Federal, states and local governments for the month of October.


This is about N35 billion less than the N639.9billion distributed in the preceding month of September.

The Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Alh. Aliyu Ahmed, who presided over the meeting in Abuja disclosed that the three tiers of government shared a total sum of N604.004 billion as federation allocation for the month of October 2020.

A statement issued by the Director (Information) in the ministry, Mr. Hassan Dodo, said from the amount, which includes the cost of collection to the Nigeria Customs Service (NCS), and the Department of Petroleum Resources, the federal government received N220.751 billion, states received N161.825 billion, local Government councils got N120.588 billion while the oil producing states received N31.902 billion as 13 per cent derivation.

https://thenationonlineng.net/faac-shares-n604-004-to-federal-states-councils/
7/8 Eight days after FAAC fall on Wednesday and Thursday next week , expect your payment between 25th and 26th November 2020.

ukay2:
BULL that will run till Jaunary 2021.....we never start journey self

Be fearful when others are greedy

Hector008:
Since yours was a weekend program then that means there won't be evidence of interference of your study on your working hours. You should write to the Chairman Rivers State UBEC or SSB for study leave approval, after verification, it will be granted.

NB: There are some of my teaching colleagues who obtained MSC and PhD without approval who then apply for RSU job last year, they were successful at the end of selection exercise. Their record of service was transferred from UBE to RSU as second Appointment through civil service commission

NothingLikeLove:
Oh ok. So did they quit the teaching job for the RSU job or they are doing the two?

@ NothingLikeLove check the bolded the message is clear.

Joe Biden and Kamala Harris are my candidate and they have won, seriously am happy about it.
Congratulations President and vice president elect, Joe Biden and Kamala Harris.

AmazonTopaz:
Biden is president elect

He is going to win, I strongly support Biden.

LoyalHustler1:
Dear my fellow brethrens, it is with great JOY that i write to you right now on the outcome of the presidential election going on now in the United States of America.

I write to tell all christians and all supporters of Donald Trump to start rejoicing, start singing and dancing for the battle has been won already.

I want you all to remember that GOD has a reason for allowing this election to go this way. Many of us would have want it to go smoothly but GOD has his ways.

So do not give up.

Do not be discourage.

Do not be sad and afraid for i tell you my brethrens.

President donald trump will be re elected and inaugurated as the president of the United States of America come JANUARY.

Forget about the outcome of what you see right now on NEWS channels and social media.

The second presidency of Donald trump has already been decided in heaven.

The reason why it is currently going this way is for The glory of GOD.

GOD wants to expose so many dirty secrets by members of the Democrats and as you can see, the exposure has already began.

They think they are hurting trump but GOD is making them expose themselves.

Their wiseness is foolishness to GOD.

I want you all to know that Donald trump will become the president of USA for he is to restore usa the great nation back to his old Godly ways.

The holy spirit will pour out in abundance across usa under the second tenure of president Trump and Americans will Massively start preaching the bible in through repentance.

Trump has an unfinished business with Israel according to the Bible.

So my fellow brethrens!!! Have Faith, be happy.

For i see a massive victory for TRUMP.

MAGA!!!

by the order of Ishawuru.

1. Is Biden not a Christian?
2. Did Christian in America vote for Biden and if yes, why did they vote for him?
3. Does it mean that Christians who prayed and wishes Biden to win, that God will not answer their prayer, and to whom did their prayers goes to?

Trump and Biden are both Christian, it's he that wear the shoe no exactly where the shoe is paining him, let their vote count.

Trump Administration Bans Immigrants From Nigeria
4 Feb 2020 .

Trump ban Nigeria and some other countries from visiting American, that alone has significant role to play against his reelection. Let Biden carry on, his policy probably will favour African nation, therefore I support Biden.

Election: Nigerian-Americans speak on their choices
Chairman of the Organisation of the Advancement of Nigerians (OAN) maintains that
"A president who doesn’t like immigrants, who just wants to send everybody back home, is not a president we should be voting for"

Trump fail by making himself an enemy to immigrants, openly voiced out his hatred to African and other developing nation, turning people back who want to visit USA, those who went for American visa interview in the recent past, were denied visa. For me I support Biden.

chymeze:
I recall saying it here several months back that Biden was going to win Trump not because he is better. A lot of us Christians don't realize that what's happening in the US where Trump is being booted out is actually the will of God in this end time to allow for the preparation of the Antichrist to emerge. The Antichrist cannot emerge with Trump in power. Only a president like Biden can give the Antichrist such leeway. What's happening in America is just a fulfilment of scriptures that shows the rapture of the church is about to occur.

It's a political propaganda, Biden is human as Trump is, no one can have anything unless giving to him by God. I support Biden and he is going to win.

Tetehjewels:
Electoral College Vote at this hour:
Biden 264
Trump 214

270 needed to win

I personally supported Biden to win. And will be happy to hear that he win.

Oakbranch:
Welcome.its been awhile.hope all is well.

Yes, all is well.
Just occupied with study and research.

naturalflow:
welcome back chibuking

Thanks

Apraise:
Before Friday next week,at least from Wednesday next week.

It's usually 7/8 days after FAAC. So expect it between today and latest Tuesday, if the payment start today it will extend into Monday. But if it didn't start today, then it will likely get into Tuesday, because sometimes banks don't usually start salary payment on Monday being their busiest day.

naturalflow:
ucap all the way.sweet result they have there.

Their group result was the answer, but company didn't make it up to 2019 q3. It's a good result from the group side 2020 q3 EPs of 58 kobo against 46 kobo of 2019.

temple4real:
FAAC Shares N639.9bn September 2020 Revenue To FG, States And LGs
Channels Television
Updated October 15, 2020




The Federation Accounts Allocation Committee (FAAC) has shared a total of N639.901 billion September 2020 federation account revenue to the Federal, States, and Local Government Councils and agencies.

This was announced after the physical meeting of the Federation Account Allocation Committee (FAAC) for the month of October held at the Federal Ministry of Finance headquarters, Abuja. The meeting was chaired by Permanent Secretary, Federal Ministry of Finance, Alhaji Aliyu Ahmed.

The total distributable revenue of N639.901billion comprised statutory revenue of N341.501 billion; Value Added Tax (VAT) revenue of N141.858 billion; N39.542 billion from Forex Equalisation; N45 billion from Non-oil Excess Revenue and N72 billion Federal Government Intervention Revenue.

The gross statutory revenue of N341.501 billion available for the month of September 2020 was lower than the N531.830 billion received in the previous month by N190.329 billion.

The gross revenue of N141.858 billion available from the Value Added Tax (VAT) was also lower than the N150.230 billion available in the previous month by N8.372 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that from the total distributable revenue of N639.901 billion; the Federal Government received N255.748 billion, the State Governments received N185.645 billion and the Local Government Councils received N138.444 billion.

The relevant States received N36.188 billion as 13% mineral revenue, while the cost of collection and transfers had allocation of N23.876 billion.

The Federal Government received N161.131 billion from the gross statutory revenue of N341.501 billion; the State Governments received N 81.728 billion and the Local Government Councils received N63.009 billion. N21.688 billion was given to the relevant States as 13% mineral revenue and N13.964 billion was the total for the cost of collection, transfers, and refunds.

The Federal Government received N19.789 billion from the Value Added Tax (VAT) revenue of N141.858 billion. The State Governments received N65.964 billion; the Local Government Councils received N46.175 billion, while cost of collection, transfers and refunds had allocation of N9.930 billion.

From the N39.542 billion Forex Equalisation revenue, the Federal Government received N18.123 billion, the State Governments received N9.192 billion, the Local Government Councils received N7.087 billion and the relevant States received N5.140 billion as 13% mineral revenue.

The communique confirmed that out of the N45 billion Non-oil Excess Revenue, the Federal Government received N23.706 billion, the State Governments received N12.024 billion and the Local Government Councils received N9.270 billion.

The Federal Government received N32.999 billion, the State Governments received N16.737 billion, the Local Government Councils received N12.904 billion and the relevant States received N9.360 billion as 13% mineral revenue from the N72 billion Federal Government Intervention Revenue.

According to the Communiqué, in the month of September 2020, Companies Income Tax (CIT) and Oil and Gas Royalty decreased significantly; Import Duty and Value Added Tax (VAT) decreased marginally, while Petroleum Profit Tax (PPT) and Excise Duty recorded increases.

The balance in the Excess Crude Account (ECA) as of 15th October 2020 was $72.409 million.

https://www.vanguardngr.com/2020/10/faac-fg-states-lgcs-share-n639-9bn-for-sept/
Payment to enter next week Friday 23rd and upper week Monday 26th October, 2020.

World Teachers’ Day: Buhari raises service year from 35 to 40, retirement age 60 to 65 ON OCTOBER 5, 20204:02 PMIN EDUCATION, NEWS
Approves special salary scale for teachers
Reintroduces bursary award to education students in varsities, COEs
By Joseph Erunke
PRESIDENT Muhammadu Buhari has approved a special salary scale and new retirement age for teachers.

The president’s gesture, which was announced Monday, by the Minister of Education, Mallam Adamu Adamu, was in commemoration of the World Teachers Day.

The president increased the number of service years for the teachers from 35 to 40.

Over the years, Nigerian teachers have continued to agitate amongst others, an increase in their retirement age, welfare and salaries.

Buhari, at the 2020 World Teachers Day celebration in Abuja, explained that the implementation of the new teachers’ salary scheme was to encourage the teachers in delivering better services

The special salary scale, the president said, is for basic and secondary school teachers.

The president also increased the retirement age of teachers from 60 to 65, and the number of service years from 35 to 40.

According to him, these were parts of ongoing moves by the government to revitalize and reposition the teaching profession in the country, by introducing what he described as “fundamental and far-reaching changes.”

The president said a review of teachers’ development policies had revealed huge gaps in quantity and quality of teachers at all levels of the nation’s education system. Also, the status and statute of teachers were currently at their lowest ebb.

Buhari said the implementation of the new policies was to attract best brains into the teaching profession and encourage teachers in delivering better services that would produce quality students who would, in turn, contribute to national development.

In his words: “Government notes the emergency situation in our educational system with particular reference to the dearth of qualified and dedicated teachers to enhance the quality of teaching and learning at all levels of our educational system.

“To address these challenge yes and set our country on the path of industrialization where our educational system will produce the needed skills and manpower, I have approved to the following;

“The reintroduction of bursary award to education students in Universities and College of Education with assurance of automatic employment upon graduation, payment of stipends to Bachelor of Education students as well as granting them automatic employment after graduation is now a government policy.

“The Tertiary Education Fund (TETFUND) will now fund teaching practice in Universities and Colleges of Education, special salary scale for teachers in basic and secondary schools including provisions for rural posting allowance, science teachers allowance and peculiar allowance.

“Special teacher pension scheme to enable the teaching profession retain its experienced talent as well as extend teachers retirement age to 65 years and teachers service years to 40, create a career path policy for teaching profession in Nigeria and, teachers conversion programme and ICT training to mitigate the current dearth of qualified teachers in the school system.”

President Buhari also approved the following incentives to motivate and restore the lost glory of Teachers; building of low-cost houses for teachers in rural areas, sponsorship of teachers to at least one refresher training per annum, expansion of annual Presidential teachers and schools awards to cover more categories with outstanding winners to be considered for National Awards and National Productivity Order of Merit (NPOM) awards.

Others were; “prompt payment of salaries and other entitlements including consideration for first-line charge in annual budgets, timely promotion of teachers to eliminate stagnation, provision of loan facilities, free tuition and automatic admission for biological children of teachers in their respective schools to encourage and retain them in the system.”

“The Minister of Education is hereby directed to ensure an accelerated implementation of these policies and measures in collaboration/liaison with States/Local Governments, the Office of the Head of Civil Service of the Federation, the National Salaries, Incomes and Wages Commission and other relevant agencies in the system to enthrone a culture of competence, discipline, dedication, increased learning outcomes and better service delivery in the education sector in Nigeria.”

President Nigeria Union of Teachers (NUT), Nasir Idris who urged the government to ensure strict compliance of schools to the COVID-19 protocols on safe reopening of schools, said 39 million youngsters were affected by the closure of schools in the country.

Idris who said the use of technology and distance/online learning could not replace school community stressed that “face to face interaction between the teachers and the learner is crucial to the learning and development process.

“This means that teachers need to be provided with opportunities for regular training and continuing professional development, be provided with conducive and safe school environments, be adequately equipped and be empowered and supported to be able to meet the new challenges and demands of the 21st century, and to ensure inclusive and equitable quality education and promote life long learning opportunities for all.”

Recall that over the years, Nigerian teachers have continued to agitate amongst others, an increase in their retirement age, welfare and salaries

Read more at: https://www.vanguardngr.com/2020/10/buhari-raises-service-year-from-35-to-40-retirement-age-60-to-65/

https://dailypost.ng/2020/09/30/unity-schools-fg-announces-reopening-date/

EDUCATIONUnity Schools: FG announces reopening datePublished on September 30, 2020 By Wale Odunsi

The federal government has approved October 11 as reopening date for all Unity Schools in Nigeria.

Adamu Adamu, Minister of Education, made the announcement in a letter he signed on Wednesday.

The minister said the approval was for students in Junior Secondary School and Senior Secondary School.

Adamu noted that students at home since the outbreak of COVID-19 pandemic can now complete their academic session which ends in December.

He advised that COVID-19 protocols be strictly observed in the schools.

“Schools that have not concluded their 2nd term examination should round off and commence 3rd term immediately which is expected to end in December,” the minister wrote.

From all indication, Third term will end in December, while new section will commence on January. Since state ministry uses the same calendar with federal government.

https://punchng.com/32-states-not-remitting-workers-contributory-pensions-pencom/

32 states not remitting workers’ contributory pensions – PenCom
Published September 28, 2020

While five states are regularly funding the accrued rights and Retirement Savings Accounts of their workers under the Contributory Pension Scheme, all the states have backlog of arrears that make retirees to wait for a few years after retirement before they get paid, NIKE POPOOLA reports

All state governments’ retirees in the country suffer either outright non-payment or long waits to access their pension benefits under the Contributory Pension Scheme.

Industry watchers have blamed this ugly trend on lack of political will by state governments to ensure a functional pension scheme in their states.

Retirees of states that have complied usually wait for between two and six years before they get paid, a source at PenCom said.

Status of implementation of the CPS in states as of June 30 showed that only four states and the Federal Capital Territory Administration had high level of compliance according to the National Pension Commission.

The commission listed theses five states that were funding the accrued rights of their workers regularly and commenced payment of pensions as Lagos, Kaduna, FCT, Osun and Delta.

Despite their higher level of compliance, these four states and the FCT still delayed in commencing pension payments to their retirees.

Lagos State, for instance, that received the National Pension Commission’s award on compliance has not started paying retirees that retired in 2018, 2019 and 2020.

The complying states blamed the delay in payment to backlog of arrears that needed to be cleared.

Anambra was funding the accrued rights of Local Government workers but not paying pensions under the CPS according to PenCom’s compliance list.

Five states with other pension schemes apart from the CPS are Jigawa, Kano, Yobe, Gombe and Zamfara.

The states at bill stage of joining the CPS are listed as Kwara, Plateau, Cross River, Borno, Akwa Ibom, Bauchi and Katsina.

The second quarter 2020 report of PenCom stated that 25 states had enacted pension laws on the Contributory Pension Scheme while seven states were at the bill stage.

Out of the five states operating other pension schemes, four states had adopted the Contributory Defined Benefits Scheme while one operates the Defined Benefits Scheme.

Among the states that had enacted laws on CPS was Niger State which suspended the implementation of the CPS in April, 2015.

However, the state governor recently approved the resumption of the scheme with effect from June 2020.

Among the states that adopted CDBS, Jigawa State was the only state that was fully implementing the scheme by consistently remitting employee pension contributions to selected PFAs to manage and had conducted actuarial valuation to ascertain any shortfall in the fund.

Kano State was yet to transfer its pension funds to licensed operators, and had huge arrears of pension liabilities as of the end of the review period.

Zamfara and Gombe States were yet to commence implementation of the CDBS as of the end of the quarter.

The Chairman, Trade Union Congress, Ogun State, Olubumi Fajobi, decried the backlog of arrears of pension and long waits suffered by retirees under the CPS.

He said, “Take Ogun State for example; we have a very large backlog running to almost N40bn that has not been remitted and that is for about 107 months.

“However, the government is taking steps to redress this.”

He worried that the governments were not committed in terms of remitting the contributions of workers.

Fajobi said, “The waiting period is also of concern for those who are accessing it. We have people waiting for two, three years before they can access any fund from the CPS after retirement.

“This makes a whole nonsense of the scheme from the 2004 reform and also for 2014 laws.”

The President, Association of Senior Civil Servants of Nigeria, Bola Audu, said any state that was not ready for the CPS should not start it, and those who started should endeavour to run it properly and not frustrate retirees.

“Pension is something somebody has worked all his life for and he intends to earn it when he is no longer able to work. So when you now play politics with those who are in pension, I don’t think it is a good idea at all,” he said.

A former President, TUC, Peter Esele, who described the pension situation as unfortunate said it encouraged corruption because those in active service were seeing the sufferings of retirees, and would want to amass as much funds as possible before they retired.

The Director, Centre for Pension Rights Advocacy, Ivor Takor, said the Pension Reform Act in 2004 created a lacuna.

What became obvious was that employees of states and local governments were not covered by or were excluded from the coverage of the Pension Reform Act 2004, he said.

Takor said, “The exclusion was not an oversight by the committee that carried out the reform, neither were sates and local government employees not covered in the executive bill that was sent to the National Assembly.

“Employees of states and local governments were covered in the executive bill sent by the President to the National Assembly.

“On the bill reaching the National Assembly, governors mobilised representatives of their states in both chambers of the National Assembly to remove employees of states and local governments from the bill before it was passed into law.

“Their reason was that the country was under civil rule; therefore, there must be the practice of true federalism, which does not allow the National Assembly to make laws for the states on an issue such as pension, which does not fall in the exclusive legislative list of the constitution.”

Takor said the mischief that found its way into the PRA 2004 was cured in the PRA 2014, which made the provisions of the Act to apply to any employment in public service of the Federation, Federal Capital Territory, states, local governments and the private sector.

Chairman, Federal Concerned Pensioners, David Adodo, lamented the treatment of senior citizens, who were denied their pension benefits.

The Allianz Global Pension Report 2020 recently ranked Nigeria 64th place, especially because of the insufficient adequacy of its pension system.

However, the acting Director-General, PenCom, Aisha Dahir-Umar, said the commission had continued to engage the state governments on compliance through interactive sessions, training and workshops.

It's well

ositadima1:
lols, be like say these Registrars dey read NSEMPA thread o, my Zenith dividend just landed o, now now. Chai, they too much.

They pay batch by batch, alphabetical and according to banks. My UBA just landed, and I know Zenith will soon enter.