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 Nairaland General › BOOM: Exchange Rate Now N492/$1 by Wunmi01(op): 1:52pm On Sep 29, 2016 |
This just in from the black market; Update:29-09-2016 Selling: USD: $1/₦492.00 GBP: £1/₦601.00 EUR: €1/ ₦521.00 MORE: http://nairametrics.com/boom-exchange-rate-now-n4921/ Cc: lalasticlala |
| Nairaland General › Leaked ‘bankers Committee Email’ Suggest Nigeria’s Interbank Market Is Being Man by Wunmi01(op): 1:18pm On Sep 29, 2016 |
Unconfirmed reports reaching Nairametrics may have confirmed speculations that the flexible exchange rate market introduced by the CBN Governor, Godwin Emefiele, is being manipulated. According to an email exchange purportedly exchanged between members of the Banker’s committee, obtained by Nairametrics, some commercial banks appear to be conniving to influence the currency market. Here are a few excerpts of the exchanges; Key outcomes for us to note as follows CBN has directed that Minimum tenor of currency forwards be 60 days. This comes on the back of banks doing 2, 4 and 7 day forwards outside of the official rate in order to fill orders at a higher rate. If the CBN Funds are used for settling LC’s then for every LC that is settled a new one of 50% of that value must be written. Sources tell Nairametrics that this is simply a continuation of current in-force rules. Banks will not be able to sell to BDC’s going forward as double cheques are being written. Same goes for buying currency from corporate…double cheques are being written to make up value (Olam specifically mentioned here). Banks may not bid for Dollars at a rate exceeding N315 for amounts less than $1.5 m, but on large amounts banks should call him (Emefilele) to agree upon a different rate should they wish to trade higher (basically to manipulate the official rate at a level Emefiele decides). Any banks lacking clarity on exactly what the regs around the currency are should call Herbert (possibly of Access Bank) for clarity. Whilst the email exchange is yet to be confirmed independently, our source reveal it was obtained from someone with access to email exchanges within the bankers committee. The email exchange also aligns with rife speculations about a rate ceiling imposed on bidders by the Apex bank. READ MORE: http://nairametrics.com/leaked-bankers-committee-email-suggest-nigerias-interbank-market-is-being-manipulated/ Cc:lalasticlala |
| Business › Here Is Why Nigeria Imported $227 Million Worth Of Sugar In 7 Months by Wunmi01(op): 10:14am On Sep 29, 2016 |
The foreign exchange shortages caused by a mixture of lower oil price and CBN forex policies have remained a stumbling block in the government quest to achieving its vision of being self sufficient in Sugar production in seven years. From the first seven months of the year, the country spent $227 million (N70.37 billion) on sugar importation, making it the highest importer of the commodity in sub-Saharan Africa. While the apex bank has adopted a flexible exchange rate that saw the naira lose one third of the value against the dollar, Boko Haram’s incessant attacks in the north-eastern part of the country has prevented many farmers from adding more cane plantation. With the Nigerian army gradually subduing the insurgents, there are indications that planting may resume in the crisis ridden region. Sugar prices are expected to remain volatile till the end of the year due to drought or El Nino destroying farms in Brasil, the largest producer of the product. READ MORE: http://nairametrics.com/here-is-why-nigeria-imported-227-million-worth-of-sugar-in-7-months/ Cc:lalasticlala |
| Nairaland General › Blackberry To Stop Making Handsets by Wunmi01(op): 4:36pm On Sep 28, 2016 |
BlackBerry, the Canadian firm that helped pioneer the smartphone market, said Wednesday it will stop making handsets, outsourcing production to an Indonesian partner. Handsets with the BlackBerry name will be produced under license by PT Tiphone Mobile Indonesia Tbk, allowing the Canadian firm to concentrate on software and services, a statement by the firms said. BlackBerry, which a decade ago was among the largest smartphone makers, has seen its global market share slip to less than one percent amid domination by Apple and Android devices. As the market shifted, BlackBerry has sought to refocus on software, including security applications, and the latest announcement takes the company out of the handset market entirely. “We are reaching an inflection point with our strategy. Our financial foundation is strong, and our pivot to software is taking hold,” said chief executive John Chen, pointing to a doubling of software revenue in the last fiscal year. READ MORE viahttps:///D4sF2t Cc: lalasticlala |
| Nairaland General › Recession As Opportunity For Reversing Resource Curse by Wunmi01(op): 3:10pm On Sep 28, 2016*. Modified: 10:06am On Sep 29, 2016 |
And, sadly, it came to pass. It is well predicted that most countries blessed with natural resources, even in the best of times, perform worse economically than countries not so endowed; and that, when times are tough, countries that are dependent on natural resources come to an assured grief. There is a popular name for this strange but common condition: resource curse. It sounds metaphysical, it seems counter-intuitive even, but it is a position supported by enough evidence. And there can’t be better evidence than this: a Nigeria that is in the choke-hold of economic recession right after fifteen years of consistently high oil prices and over N70 trillion of oil revenues earned by the federation. A recession might be a dramatic inflection point, but the brutal fact is that our country has never really been in sound economic health. A long spell of rising oil prices in much of our over four-decade addiction to oil had put us on a permanent high, masked the hollowness of our economic well-being, blind-sighted us to the dangers dancing in plain sight, and induced a costly work-avoidance in our leaders. Now that we are at this terrible pass, it will be tempting to just focus all our energy at getting growth back to positive zone. Without a doubt, getting out of recession should be the first order business. But doing only that will show us up, again, as a people eternally incapable of learning. This should be the time to finally wean ourselves of the unhealthy dependence on crude oil for most of our exports and government revenues; a time to reset the foundations of our economy and even of our politics; a time to get a permanent cure for what deeply ails us. Clearly, natural resources do not come embedded with supernatural curses, as the positive experiences of Norway, UAE, Malaysia and Botswana have shown. But it is also clear how natural resources end up as blights, and not blessings, just as it is clear what to do to reverse the curse. So the problem is not lack of knowledge. The problem is that resource-endowed countries either do not do enough to prevent the sad prophecy from fulfilling itself or do not do enough to ‘cure the curse’ after it has manifested. And these countries fail to take both preventive and curative measures because countries blessed with natural resources are prone to certain risks and disposed to certain choices that create delusions, dependencies and distortions, which inexorably turn natural resources to impeders, rather than enablers, of development. One known risk is that the prices of natural resources fluctuate. This creates revenue instability for countries that depend on resource rents to fund their budgets. Since this is known, the sensible thing would be for such countries to save enough when the prices are up as insurance against when the prices are down, and to use the windfall to create other more stable streams of income and to invest in the productive capacities of their people. But most resource-dependent countries rarely do that, as a surge of easy money induces the delusion of everlasting riches. Such countries get unreasonably high when prices of their natural resources are high and set themselves up for an inevitable fall when prices inevitably tumble. Three episodes in four decades of our history provide good illustration. In 1972, a barrel of crude oil sold for a yearly average of $1.82. By 1974, oil price leapt to $11 per barrel, then to $29.19 in 1979, and then to $35.52 in 1980. But by the time the price of oil marginally dropped to $29.04 in 1983, our economy was already in trouble. It is important to look at the figures again: we were not in trouble when oil was $1.82 in 1972, but we were in a deep mess eleven years later when oil was $29.04. READ MORE:http://nairametrics.com/recession-as-opportunity-for-reversing-resource-curse-waziri-adio/ Cc: lalasticlala |
| Nairaland General › Alert: CBN Warns Everyone From Using Their Dom Accounts To Buy And Sell Dollars by Wunmi01(op): 11:13am On Sep 28, 2016 |
The Central Bank of Nigeria appears to have warned depositors from using their accounts for what they term “perceived as International Money Remittance Service (IMTO) or Bureau de Change (BDC) activities” without the approval of the CBN. This instruction was sent through commercial banks to depositors and looks to be targeting people who use their domiciliary accounts for black market trade of forex. According to banking sources, some people with domiciliary accounts typically use their accounts as a conduit for buying and selling forex making a nice profit either way. Rather than route money through the interbank market, most companies and individuals prefer to run transactions via their domiciliary accounts selling forex to buyers with a broker as the facilitator. READ MORE:http://nairametrics.com/alert-cbn-warns-everyone-from-using-their-dom-accounts-to-buy-and-sell-dollars/ Cc: lalasticlala |
| Nairaland General › Come And See The 12 “wonders” Of Dangote Refinery by Wunmi01(op): 12:51pm On Sep 27, 2016 |
The much touted construction of the Dangote Refinery is ongoing and the PR machine has been unleashed in the quest to create awareness for the project and to a larger extent, attract government incentives. It’s nothing new, if you follow Aliko Dangote very well. The Billionaire investor loves to ride on government incentives to push his business empire. After all, it’s a ‘win win’ situation or so he thinks. His Chief Operating Officer Kunle Alake was recently quoted by several media outlets discussing the benefits of setting up the refinery. As usual and in typical PR style, he had a long list of what Nigeria stands to gain. We counted 12 of them. 1. The refinery and fertiliser projects will create job opportunities for the communities and Nigerians when it becomes operational. It will create over 300,000 direct and indirect jobs by the first quarter of 2019 2. The refinery will have a refining capacity of about 650,000 barrels of crude a day,’’ 3. It will force down the price of Premium Motor Spirit (petrol) in the country and save money spent on importation. READ MORE: http://nairametrics.com/come-and-see-the-12-wonders-of-dangote-refinery/ Cc: lalasticlala |
| Nairaland General › Asset Sale Dilemma: Former CBN Director Highlights 3 Potential Problems by Wunmi01(op): 2:50pm On Sep 26, 2016 |
The Federal Government (FG) has been faced with a dilemma of whether or not it should sell some of its assets to private companies. Several Nigerians have weighed in on the issue and one of the latest to do this is a former Director in the Budgetary Department, Central Bank of Nigeria (CBN), Titus Okunronmu. In an interview held with News Agency of Nigeria (NAN), he highlighted 3 problems that would arise from the sale. Read about them below. FG cannot sell the assets for their real value due to poor pricing as everybody knows that the country is in dire need of forex and as such would be in a disadvantaged position during any deal. READ MORE: http://nairametrics.com/asset-sale-dilemma-former-cbn-director-highlights-3-potential-problems/ Cc: lalasticlala |
| Nairaland General › Here Is How Much Dollars The CBN Sold In The 1st Half Of 2016 by Wunmi01(op): 10:35am On Sep 26, 2016 |
The Central Bank of Nigeria has released its 2016 half-year economic report detailing activities in the monetary and fiscal segments of the economy. In one of the segments, the CBN reported that it as sold about $7.8 billion in forex to the interbank market as well as via swaps According to the bank, a total of US$4.31 billion was sold by the CBN to authorized dealers during the second quarter of 2016. This reflected an increase of 22.7% above the level in the preceding quarter, but a decline of 41.5% relative to the level in the corresponding period of 2015. The development, relative to the preceding quarter, was attributed to the increased intervention by the CBN at the forex market and swap transactions. Of the aggregate, inter-bank and swaps sales were US$3.11 billion and US$1.20 billion, respectively. Here is a breakdown READ MORE: http://nairametrics.com/here-is-how-much-dollars-the-cbn-sold-in-the-1st-half-of-2016/ Cc:lalasticlala |
| Nairaland General › Fire Sale: Adeosun Lays Out Her 3 Point Pitch For Selling Nigerian Assets by Wunmi01(op): 10:26am On Sep 26, 2016 |
For those who are still struggling to understand why the government needs to sell assets to raise cash required to jump-start the economy, the Minister for Finance, Kemi Adeosun, has reiterated once again why we need to sell it all. In an interview granted to some business editors she once again explained the government’s reasons. Here is what she said as reported by Leadership. On why we need to sell. ‘‘The infrastructure challenges we face are so serious and the kind of money that we need, we can’t borrow because when you have an accumulated deficit, you need to look for the money that will sustain what you are doing for the next three to four years. So, that is what we are looking at and having a more strategic approach so that, over time, we will borrow less, which, of course, is good in the long run,’’ READ MORE: http://nairametrics.com/fire-sale-adeosun-lays-out-her-3-point-pitch-for-selling-nigerian-assets/ Cc: lalasticlala |
| Nairaland General › NESG To Hold Economic Summit October 11-13 by Wunmi01(op): 11:36am On Sep 23, 2016 |
The National Economic Summit Group has planned the 22nd edition of the National Economic Summit, billed to hold on October 11-13, 2016 at the Transcorp Hilton, Abuja. The Summit is a Public Private dialogue process esteemed by both government and private sector and sessions in this year’s edition have been planned around key sectors such as agriculture, power, ICT, manufacturing, creative industries. The program’s organizers say that the summit, whose theme is ‘Made in Nigeria’ will focus around sharpening the discourse of developing and patronizing local goods by bringing relevant stake holders to a round-table, which organizers believe is key if the country is to be able to diversify from its oil dependency to multi-sector revenue generation. READ MORE: http://nairametrics.com/nesg-to-hold-economic-summit-october-11-13/ Cc: lalasticlala |
| Nairaland General › Why BDCs Believe Travelex Will Help The Rebound When It Starts Operations Next W by Wunmi01(op): 10:37am On Sep 23, 2016*. Modified: 2:35pm On Sep 23, 2016 |
The President of The Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said that the association believes that the introduction of the licensed forex dealer would greatly enhance transparency in the distribution of forex and in turn =, boost the value of the naira. He thus placed his faith in the recovery of the Naira’s value from Monday, when Travelex, an authorized forex dealer would begin operations. Speaking of the benefits of the forex dealer, Gwadabe said speed of operations and transparency would be greatly improved. Travelex has the technology to pay about 1,000 BDCs within two hours. The new arrangement also eliminates relating with bank account officers”. READ MORE: http://nairametrics.com/naira-to-rebound-when-travlelex-commences-operations-in-nigeria-on-monday/ Cc: lalasticlala |
| Nairaland General › Alert: External Reserves Drop To New Record Low by Wunmi01(op): 10:22am On Sep 23, 2016 |
Nigeria’s external reserves have dropped to a record low of $24.8 billion as at September 16, 2016 According to the Central Bank of Nigeria, $600 million was lost between August 31 when the reserves stood at $25.4 billion and September 16 The Central Bank’s intermediations into the inter bank official foreign exchange market may have a lot to do with this development. READ MORE: http://nairametrics.com/alert-external-reserves-drop-to-new-record-low/ Cc: lalasticlala |
| Nairaland General › Avoid Recession In Your Life With These Survival Tips by Wunmi01(op): 9:01am On Sep 22, 2016 |
As an entrepreneur, one should be able to assume, manage risks and create strategies to survive a tricky economic landscape/economic downturn. The ongoing financial meltdown is bound to have an impact on businesses and numerous individuals for a considerable length of time to come. To the individuals and businesses who were readied, this recession would turn out to be best of time and to the individuals who weren’t prepared, it would be a terrible time. The challenge is to be forceful and innovative. Business people who survive and considerably flourish amid difficult times must have the capacity to look past the present, to conquer the imperatives of traditions, to see the firm from another point of view, and to do business in an unexpected way. As outlined by Jumiamarket business intelligence team, here are 5 recession survival tips. READ MORE: http://nairametrics.com/refuse-to-participate-in-the-ongoing-recession-with-these-survival-tips/ Cc:lalasticlala |
| Nairaland General › Recession: Anambra State Cuts Taxes On Citizens, Injects Economic Stimulus by Wunmi01(op): 10:46am On Sep 21, 2016 |
The Governor of Anambra State, Willie Obiano, has scrapped the collection of certain taxes and levies from the grassroot citizens in an effort to ameliorate the hardship brought about by the economic recession currently plaguing the country. Obiano made this known during a special broadcast to the people of the state, saying that he preferred to take action to ease his people’s pains rather than repeat reasons why the country is in its present state. READ MORE: http://nairametrics.com/anambra-state-eases-tax-burden-on-grassroot-citizens/ Cc;lalasticlala |
| Nairaland General › Alert: Guinness Nigeria Set To Report Record N1.8 Billion Full Year Loss. by Wunmi01(op): 1:32pm On Sep 20, 2016 |
Information reaching Nairametrics suggest Guinness Nigeria Plc could soon announce a record full year loss of about N1.8 billion. Our sources suggest revenue were also down about 14% year on year. Guiness Nigeria had in the third quarter ending June 2016 reported a profit after tax of N864.1 million representing an 83.4% drop from a year earlier. READ MORE: http://nairametrics.com/alert-guinness-nigeria-set-to-report-record-n1-8-billion-full-year-loss/ Cc: lalasticlala |
| Nairaland General › How To Increase Income From Rental Properties by Wunmi01(op): 12:15pm On Sep 20, 2016 |
The best and easiest way to increase income from rental properties is by increasing rent. However this also comes with its own challenges which if not properly handled could backfire against the landlord. While many landlords and property managers know that this is the way to go, they are generally afraid of the reaction of the tenants and the possibility of a backlash. There are also landlords that take rent increase to extreme by doing it regularly and significantly that the natural reaction of tenants is opposition rather than cooperation. But for those who get it right, an increase in the amount you get from your property is certainly desirable. There are many reasons for increasing rent even though this is not something many tenants love to hear. One major reason is the effect of supply and demand on certain sectors of the housing market. In boom time when there are lots of construction projects going on and there are lots of people with good jobs or businesses to pay for houses, the middle and high end rental properties usually also experience boom time. When the economy is in a recession people scale down and the lower to middle sector of the rental market begin to experience greater demand. A strong demand market that does not have sufficient supply to meet its need for rental accommodation will give property owners and property managers the opportunity to raise rent. READ MORE: http://nairametrics.com/how-to-increase-income-from-rental-properties/ Cc: lalasticlala |
| Nairaland General › In Emefiele’s Opinion, This Is What's Responsible For Nigeria’s Depleted Reserve by Wunmi01(op): 10:16am On Sep 20, 2016 |
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has blamed the CBN’s funding of Bureaus de Change (BDC) operations with $66 billion over an 11-year period for the current depletion of the country’s reserves, saying this also contributed to the economic crisis. He complained that the funds if spent on economy-stimulating activities such as infrastructure and industry for wealth creation, would have prevented the current crisis in the country. “In September 2008, Nigeria’s foreign reserves stood at $62 billion. But what did we do with $62 billion at a time crude price was in excess of $120 per barrel? What we could have done was to save the money, if we couldn’t save the money, invest it in infrastructure and industry that will create productivity and wealth for our people. Instead, the central bank at that time went about licensing Class A, Class B and Class C bureau de change operators. For Class A BDCs, the central bank was allocating $1 million per week, for Class B, the CBN was allocating $750,000 per week and for class C BDCs, the central bank was allocating $500,000 per week. The CBN was among one of the few central banks in the world allocating dollar cash for BDC operations.” ThisDay quotes Emefiele as saying. READ MORE: http://nairametrics.com/in-emefieles-opinion-this-is-what-is-responsible-for-nigerias-depleted-reserves/ Cc:lalasticlala |
| Nairaland General › NIGERIA: Daily Parallel Market Exchange Rate (updated 19/09/2016) by Wunmi01(op): 3:20pm On Sep 19, 2016 |
Data is collated from various black market dealers on the Mainland and Island of Lagos State where forex is sold. The price quoted daily on this page represents the average price obtained by our Research Team. Our prices are a guide and could be slightly different from the price you get when you eventually decide to buy or sell.Nigeria’s Parallel Market Exchange rate is a daily compilation of the price of the Naira against three major currencies in the world. This tracker dates to the first day the Naira was floated. Nigeria’s Parallel Market Exchange rate is a daily compilation of the price of the Naira against three major currencies in the world. This tracker dates to the first day the Naira was floated. READ MORE: http://nairametrics.com/nigeria-parallel-market-exchange-rate-updated-22072016/ Cc:lalasticlala |
| Business › 20 Ways To Validate A Startup Idea by Wunmi01(op): 11:58am On Sep 19, 2016 |
1. What problem are you solving? If you can’t clearly state the problem your product or service solves, you probably don’t have a successful idea. 2. How have others attempted to solve this problem before, and why did their solutions succeed or fail? There’s a lot you can learn from those who have gone before you. Related: How to Stop Sabotaging Success 3. How many specific benefits for your product or idea can you list? The more you can think of, the more likely it is that you’re meeting a real need and can be successful. Not being able to easily describe the key features of your idea is a warning sign that the idea isn’t well thought out yet. 5. Does your idea already exist in the same way you were going to create it? If a similar solution exists, how will yours be different? If you don’t have any clear differentiating benefits or features, you likely need a new idea. 6. Who are your potential competitors? Having competitors isn’t a bad thing — it means a market exists. However, knowing what you’ll face if you launch is important, as an overcrowded marketplace or one where consumers have a strong affinity for the dominant brand may be more difficult to break into. 7. What key features does my product or service have that others will have a hard time copying? Before you go into business, you need to be very clear about what sets you apart from competitors. 8. Have you done a SWOT analysis? This framework helps you to understand the strengths, weaknesses, opportunities and threats that your idea has, giving you a better idea of the overall likelihood for success. READ MORE: http://nairametrics.com/20-ways-to-validate-a-startup-idea/ Cc:lalasticlala |
| Nairaland General › Nigeria’s Petrol Price Watch For August 2016 by Wunmi01(op): 3:05pm On Sep 16, 2016 |
The report below shows the average prices PMS was sold across 36 states and FCT in the month of August 2016. READ MORE:http://nairametrics.com/nigerias-petrol-price-watch-for-august-2016/ Cc:lalasticlala |
| Nairaland General › Official: Nigeria’s August Inflation Rate Is 17.6% by Wunmi01(op): 12:14pm On Sep 16, 2016 |
The National Bureau of Statistics just released the following data on inflation. Inflation rate for the month of August is 17.6% (year-on-year), 0.5% points higher from the rate recorded in July (17.1%). Increases were recorded in all COICOP divisions which contribute to the Headline index reflecting higher prices across the board. The major divisions responsible for accelerating the pace of the increase in the headline index were Housing, Water, Electricity, Gas and Other Fuel, Education and Transportation Services. The Food Index rose by 16.4 percent (year- on-year) in August, up by 0.6 percent points from 15.8 percent recorded in July. During the month, all the major food groups contributed to the increase in the Food sub-index, however the pace of increase was slowed by Fruits, Potatoes, Yam and other Tubers as well as Oils and Fats, which reported slower increases during the month. READ MORE: http://nairametrics.com/official-nigerias-august-inflation-rate-is-17-6/ Cc:lalasticlala |
| Nairaland General › Full Text: President Buhari’s Speech At Ministerial Retreat On The Economy by Wunmi01(op): 11:15am On Sep 16, 2016 |
ADDRESS BY HIS EXCELLENCY, MUHAMMADU BUHARI, PRESIDENT AND COMMANDER-IN-CHIEF OF THE ARMED FORCES OF THE FEDERAL REPUBLIC OF NIGERIA AT THE MINISTERIAL RETREAT ON THE ECONOMY AND THE BUDGET AT THE STATE HOUSE BANQUET HALL, ABUJA, SEPTEMBER 15, 2016. PROTOCOLS: 1. I am delighted to be here with you at this Ministerial Retreat on the Economy and the Budget. The theme of the Retreat which is “Building Inter-ministerial Synergy for Effective Planning and Budgeting in Nigeria” is very apt and timely, especially as we are in the process of developing the 2017 Budget. 2. Over the years, there has been a mismatch between planned targets and budgetary outcomes at the National and sectorial levels. The Federal MDAs have not also benefited significantly from working together and building consensus around common national objectives. This has impeded growth and development of the country. 3. It is in this context that this Retreat has been designed to discuss issues around the State of the Economy and build consensus amongst Cabinet Members and top Government officials. The Retreat will also serve as an opportunity to have a general overview of the economy and discuss the framework for the 2017 Budget, its key priorities and deliverables. READ MORE: http://nairametrics.com/full-text-president-buharis-speech-at-ministerial-retreat-on-the-economy/ Cc: lalasticlala |
| Nairaland General › This Is Not Good News For Nigerian Road Transport Users by Wunmi01(op): 10:04am On Sep 16, 2016 |
Road transport is by far the most common means of transportation in Nigeria. One of the main reasons for this is its affordability and availability when compared to other transportation methods. However, these benefits may soon vanish into thin air. The transport sector with just about every other sector in the country has been grappling with the challenges posed by the current economic turndown faced by the country. As such, transport business owners, under their various associations have been mandating double-digit price hikes that may soon leave the common Nigerian stranded at the bus terminals. First, the Association of Luxurious Buses Owners of Nigeria (LUBAN) earlier announced a 35% increase in fares along all their routes. Similarly, yesterday, the Association of Private Transport Company Owners of Nigeria (APTCON), said in Lagos yesterday that a 40 per cent increase on road transport fare effective Monday, September 19. Considering that local intra-city routes have also experienced hikes, not usually mentioned due to their inconspicuous nature, it leaves one wondering how many Nigerians will get stuck at bus terminals due to inability to pay transport fares. READ MORE: http://nairametrics.com/this-is-not-good-news-for-nigerian-road-transport-users/ Cc: lalasticlala |
| Nairaland General › List Of Dividends Declared So Far In 2016 (updated September 15, 2016) by Wunmi01(op): 3:37pm On Sep 15, 2016 |
As audited accounts start to trickle in companies will propose dividend payments to their shareholders as recommended by their respective board of directors. It is also important to track these announcements to know who is eligible to collect dividend, when it will be approved and when it will be paid. Dividend payment also affect share prices. This page will be updated from time to time. Legend Payment date – This is when dividend will be paid to you either via post (dividend warrants) or direct credit to your bank accounts (e-dividend). Closure of Register – Only shareholders who own shares before this date will be paid dividend. If you sell before this date you won’t get dividend. If you sell after you will still get dividend but the new owner will not get. READ MORE: http://nairametrics.com/list-of-dividends-declared-so-far-in-2016-updated-february-1-2016/ Cc:lalasticlala |
| Nairaland General › This Governor Believes Recession Will Last For 18 Months And Naira Will Hit N500 by Wunmi01(op): 11:35am On Sep 15, 2016 |
The Anambra state Governor, Obiano, has expressed fears that the dollar would continue to rise against the naira probably reaching up to N500 to a dollar, and that it would take no fewer than 18 months for the economic recession in the country wane. The Governor said this during the beginning of the Anambra State Fire and Safety Summit in Awka on Wednesday. He mentioned that the payment of workers’ salaries would energize the economy in a recession and make life more meaningful for the people. “A state that does not pay its workers is inviting calamity. Payment of workers’ salaries energises the economy. We saw this recession early and made agriculture one of the pillars of our administration. This is why we have been paying our workers. It is wicked to owe workers at a time like this.” He said his administration foresaw the trouble and embarked on preemptive measures such as investment in agriculture. READ MORE: http://nairametrics.com/this-governor-believes-recession-will-last-for-18-months-and-naira-will-hit-n5001/ |
| Nairaland General › How To Avoid Borrowing To Pay School Fees by Wunmi01(op): 11:14am On Sep 15, 2016 |
It’s that time of the month again and Remy looks visibly worried. He is increasingly running out of options and was tired of hiding from some people. Ironically he is about to add more people at to that dreaded list of lenders. This time, his Children’s school fees was about N2million per term and he had just N50, 000 left from his prior month’s salary. Now that he had run out of options on who to run to for more cash, he was now contemplating getting a bank loan to finance his children’s school fees. Pulling them out of that school and telling the kids he can’t afford it was also not an option. He had to keep up that lifestyle as he thought his status in society was very important in addition to his genuine quest to have his kids obtain the best education they possibly can get. If borrowing is what it takes then borrowing he must embark on. Should this be the right approach? Must we continue to live from hand to mouth despite the harsh economic environment we find ourselves in? Before you decide to live like Remy, why not consider these options. READ MORE: http://nairametrics.com/how-to-avoid-borrowing-to-pay-school-fees/ Cc:lalasticlala |
| Career › Financial Decisions You Shouldn’t Be In A Rush To Make As Entry Level Employee by Wunmi01(op): 10:57am On Sep 15, 2016 |
There are very few things in life that is as satisfying as getting a job soon after graduating from University. As such, it isn’t strange to see entry level employees suddenly feel they have ‘arrived’ and can now enjoy all the “good things” that comes with life.http://nairametrics.com/things-never-buy-rush/ 28 Likes 6 Shares
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| Nairaland General › NIGERIA: Daily Parallel Market Exchange Rate (updated 14/09/2016) by Wunmi01(op): 3:14pm On Sep 14, 2016 |
Data is collated from various black market dealers on the Mainland and Island of Lagos State where forex is sold. The price quoted daily on this page represents the average price obtained by our Research Team. Our prices are a guide and could be slightly different from the price you get when you eventually decide to buy or sell.Nigeria’s Parallel Market Exchange rate is a daily compilation of the price of the Naira against three major currencies in the world. This tracker dates to the first day the Naira was floated. Nigeria’s Parallel Market Exchange rate is a daily compilation of the price of the Naira against three major currencies in the world. This tracker dates to the first day the Naira was floated. READ MORE: http://nairametrics.com/nigeria-parallel-market-exchange-rate-updated-22072016/ @lalasticlala |
| Nairaland General › Nigeria Lags Behind OPEC Countries In Crude Oil Production by Wunmi01(op): 10:04am On Sep 14, 2016 |
Nigeria came last among OPEC countries in crude oil production for the month of August 2016, when compared to July 2016. This is according to the latest OPEC monthly report published on the website of the Oil cartel. Nigeria’s crude oil production dropped 51% month on month to 1468 thousand barrels per day the largest month on month drop for any OPEC country. Nigeria still remains second to Angola in crude oil production in Africa, a situation that has remained since the first quarter of 2016. READ MORE: http://nairametrics.com/nigeria-lags-behind-opec-countries-in-crude-oil-production/ @lalasticlala |
| Nairaland General › What You Should Do If You Have Any Of These 4 Pension Issues by Wunmi01(op): 12:58pm On Sep 09, 2016 |
Speaking in Abuja, Dr. Farouk Aminu, Head, Corporate Strategy and Research Department of PENCOM, has described what enrollees of the pension scheme as well as potential enrollees should do when confronted with pension issues. These are some of the questions bothering around pensions that he answered. 1. Which Pension Fund Administrator should I register with as a potential beneficiary? You are free to register with any Pension Fund Administrator of your choice in your locality. However, ensure that during registration, you give correct information regarding your pension and other details as required. READ MORE:http://nairametrics.com/what-you-should-do-if-you-have-any-of-these-4-pension-issues/ @lalastica |
| Nairaland General › 10 Things You Need To Know About Cross River Garment Factory by Wunmi01(op): 12:27pm On Sep 09, 2016 |
It is just a matter of time before another Guinness World Book of Records plaque rests in Nigeria. The entity that would be joining the prestigious list that has names like Kaffy and more recently, AY, the comedian is the Cross River Garment Factory. It is regarded to date as the largest garment factory in the world by floor size and very soon the plaque that certifies it will be resting in Cross River State. However, like all things Nigerian, this achievement has come under scrutiny, with rumors flying left and right as to the factory and its construction. However, to demystify the air around this factory, Emmanuel Etim contributed a research piece in the Premium Times and gives these facts on the Cross River Garment Factory. READ MORE: http://nairametrics.com/10-things-you-need-to-know-about-cross-river-garment-factory/ |
