6 things to prioritise during your NYSC Year

6 things to prioritise during your NYSC Year

One year is a long time, yet it can pass by very quickly. Don’t let the one-year compulsory youth service year pass by without adding some value to yourself.

On that note, here are 6 things you should do during your NYSC year:

Prepare your CV and start sending out:

If you don’t have a CV yet, use this time to sit down and draft one. Do your research to see CV writing tips and use them to craft a stellar CV. Keep it to two pages. Once you have your CV, start circulating to family, older friends and to companies via their career pages. Also start completing online job forms and subscribe to new job alerts.

Be present on the internet:

Whether you get posted to a village or city, try not to be cut off information. Being present on the internet is how you know what is going on, what companies are recruiting, and what new opportunities are ripe for the picking.

Register for professional exams:

You have plenty of time on your hands now – well at least for a year. Use the time to find any professional examination/course(s) that is relevant to you, register and actively study and pass them. They will give you better chances during your job search.

Try out job tests:

They say, ‘practice makes perfect’- so practice job tests (if you plan to work for somebody). Get relevant materials GMAT and start getting yourself acquainted with the tests therein. Make sure you time yourself with the sample timing included and aim to get better with each trial. By the time you pass out from NYSC, you should be ready to take job tests from prospective employers.

Learn a skill:

If entrepreneurship is your thing but you don’t have the requisite skills, your service year is the perfect time to acquire the skill you will need. If you learn that skill before you pass out, you could even start making some money with your new skill while still serving.

Network:

Corpers are usually loved and respected in most communities where they serve. Leverage that to meet those that matter in your place of primary assignment or state. Meet new people, brush up your LinkedIn profile and connect with those in the industry you have your eyes on. You never know who could help you get your foot in the right door.

 

 

 

 

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New Year, different you?

New Year, different you?

With the New Year in full swing, what plans do you have to make 2018 better and different from last year? Yes, there are still books to read, the crew to hang with, Valentine’s day to plan for and social media to slay for – but really, are these the only things this year should be about for you?

How about using this year to set plans in motion for the future you dream about? Now don’t roll your eyes, I know you’re still a student but you’ll one-day graduate and you don’t want to be among the growing list of job seekers prowling the job market now, or do you? The steps you take now can be your ticket to never having to be termed “Job hunter” years later.

What steps? Well, check this list out.

Network: Start making connections as early as you can. Email people in fields you’re interested in even if it’s just to say, “I read your book, or I admire your work”, join professional organizations and attend conferences.

 

Use your breaks wisely: This year, try to use your breaks more productively. You can:

  • Get an internship
  • Start a small business on the side (If you’re business-minded)
  • Take courses to boost skills you’re not taught in school
  • Read widely and wisely
  • Travel – to learn how to adjust to strange and unusual circumstances

 

Gain knowledge: Don’t wait until you graduate to know what you want to do career-wise. Don’t wait till you are called for an interview to learn how to respond to questions. Don’t wait until you must choose your Pension Fund Administrators to make a choice. Research now to know what you need to make informed decisions when the time comes.

 

Create your online persona: In this day and age, one of the worst ways students can damage their future careers is by sharing the wrong kind of information online. Assume that everything you post online will be available to prospective employers, clients, or investors – no kidding, these people actually go to the internet to research potential employees or partners. Build a public-ready profile and under your own name too (not nick-names).

 

Be attentive: Consider every stage an extension of your education. Listen more than you talk, and learn as much as you can from the ‘old hands’ and from critics too.

 

It’s a new year! The year that you enjoy life on campus but also prepare for life in the real-world.

 

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ECONOMIC UPDATE: Africa Economy back from the Brink

ECONOMIC UPDATE: Africa Economy back from the Brink

Given recently released data and estimates, Africa’s economy is back from the brink and on course for a modest recovery in 2017 as higher global commodity prices supported growth in Sub-Saharan Africa (SSA) while fiscal consolidation was responsible for the modest growth seen in the North. Specifically, after increasing at its slowest pace in 2 decades in 2016 (+1.4% YoY), IMF estimates SSA growth at 2.6% YoY following strong rebound in Nigeria, South Africa (SA) and Angola.

Whilst higher crude production and prices propelled oil sector growth in the two largest oil exporting nations in Africa, the impact of receding drought drove improved performance of the agricultural sector which in turn supported growth in SA. Elsewhere, fiscal consolidations and reforms appears to be yielding fruit in North Africa with sharp recoveries seen in Egypt and Morocco as cut down in energy subsidies and a reduced public wage bill supported foreign investment in the former.

SSA growth rides on commodity prices

The central theme across SSA was the rebound from the trough of 2016 on the back of higher commodity prices and production, favourable external conditions, as well as robust agriculture output. Major economies of Nigeria and SA, pulled out of recession even as Angola and Ghana sustained growth. The positive picture in the countries neutered slower growth across East Africa underpinned by politics-induced pullback as well as drought.

For context, Nigeria’s economy reverted to growth for the second consecutive quarter in Q3 2017 (+1.4% YoY, Q2: +0.7% YoY) largely hinged on recovery in crude oil production, resilience in the agriculture sector as well as improved external balance. Elsewhere, despite political uncertainty and fiscal challenges in SA prompting credit downgrade to junk status, SA’s economy showed fortitude, expanding by 0.8% YoY in Q3 17. The growth was supported by recovery in the agricultural sector (+19.6% YoY)—a fall-out of receding drought in the region. Furthermore, expansion in mining and quarrying sector (+3.2% YoY ) further supported growth.

Elsewhere, the combined impact of higher crude oil prices and production supported growth in Angola and Ghana even as receding political tensions in the former, following the election of the new president in the period, supported the growth picture. Accordingly, growth in Angola and Ghana printed at 1.3% and 9.3% YoY accordingly. On the downside, the impact of prolonged political crisis and adverse weather conditions on investment, external indicators and agriculture sector slowed down growth in Kenya. For context, Q3 2017 GDP growth of 4.4% YoY— slowest expansion in sixteen quarters— reflected sharp moderation in key sectors – Finance and Insurance, Manufacturing, Construction, and Agriculture.

View full report here

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In the news: Nigerian stocks are world’s best with 12% rise

In the news: Nigerian stocks are world’s best with 12% rise

This Day

Oil Marketers Canvass for Total Deregulation of Petroleum Downstream Sub-sector

The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Depot and Petroleum Products Marketers Association (DAPPMA) have called for the total deregulation of the downstream sub-sector of the country’s oil and gas industry.

Vitafoam  Secures N2bn  Loan to Boost Working Capital

Vitafoam Nigeria Plc has secured a four-year   N2billion soft loan from the Bank of Industry (BoI) at concessionary interest rate as part of the company’s strategic move to boost its working capital and sustain competitive edge.

With 12% Rise in Fourteen Days Nigerian Stocks Are World’s Best

The main equity index in Africa’s biggest economy has surged 12 per cent this year in dollar terms, the most among 96 major bourses tracked by Bloomberg, pushing it to the highest level since 2008.

N1.6tn Bonds Listed on FMDQ OTC Exchange in 2017

Bonds worth about N1.60trillion were listed on the trading floor of the FMDQ OTC Securities Exchange in the financial year ended December 31, 2017.

Punch

RMAFC backs new petrol subsidy regime

The Revenue Mobilization Allocation and Fiscal Commission has backed the reintroduction of subsidy on petroleum products by the Federal Government through the Nigerian National Petroleum Corporation.

Power distributors owe market operator N165bn

The total debt electricity distribution companies owe operator of the Nigerian electricity market, otherwise known as market operator, has risen to N165.21bn.

UN appoints Adeosun into pension fund’s investment panel

The Minister of Finance, Mrs. Kemi Adeosun, has been appointed into the Investments Committee of the United Nations Joint Staff Pension Fund.

Vanguard

Risk Based Supervision: Four insurance firms at sea over N14.8bn capital short fall

As the insurance sector awaits the commencement of Risk Based Supervision, RBS, this year, four insurance companies are in dilemma over N14.8 billion shortfall in their shareholders’ funds, which are far below regulatory requirement.

UBA Board to consider 2017 financial statements, proposed dividend

United Bank for Africa (UBA) Plc has announced its upcoming Board meeting, scheduled for Monday, January 29, 2018, where members of the Board will consider the financial statements for the financial year ended 31 December 2017 and also proposals for final dividend for the period.

Court nullifies appointment of interim board for 9mobile

A Federal High Court sitting in Lagos has nullified the appointment of an interim board for Emerging Markets Telecommunications Service, EMTS.

The Nation

116 quoted companies to fall under one-kobo pricing rules

More than two-thirds of quoted companies will come under the pricing band of one kobo as the Nigerian Stock Exchange (NSE) is  set for the implementation of new pricing rules that will remove the current stop-gap that has supported stocks at their nominal value and allow shares of quoted companies to trade for as low as one kobo.

Stock Exchange places 7-Up on full suspension

Authorities at the Nigerian Stock Exchange (NSE) at the weekend slammed a full suspension on the shares of Seven-Up Bottling Company (7-Up) Plc following the bid by the foreign majority shareholder in the soft-drink company, Affelka SA to buy out all minority shareholdings.

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Ask Shade: How Do I Convince My Husband to Write a Will?

Ask Shade: How Do I Convince My Husband to Write a Will?

Hi Shade,
I need your help to save my marriage. I ran into an old friend who bitterly recounted her ordeal in the hands of her in-laws after her husband’s unexpected death. I was greatly disturbed by her story, I kept wondering what would happen to us if anything happened to my husband. I run a small business, but my husband mostly provides for our welfare and the children’s education. So, I asked him if he was thinking of writing a Will as nobody knows tomorrow.

He has been angry with me since then and has refused to eat anything I cook, claiming if I don’t have plans to kill him, I wouldn’t be talking about a Will when he is barely forty years old and has not even built a house.

Please Shade, is he too young to have a Will? Can one put small things like share certificates, land, bank account, pension funds in a Will? If so, how can I convince him to write a Will?
Benita
Lagos, Nigeria.

***
Hello Benita,
I can imagine what you are going through. Your situation is not at all peculiar, we deal with cases like this a lot – women encountering obstacles in their attempt to propel their husbands towards estate planning. However, the widespread misconception has led many to erroneously assume that Wills are for the extremely wealthy, aged, or polygamous.
Planning your Estate (or distribution of your assets after demise) is a very good decision and you do not need to be rich before doing so. A Will can include assets such as your bank accounts, retirement savings account (pension funds), investments, real estate, shares and many other assets.

You may explain to your husband that a Will doesn’t mean unexpected death, a Will is in fact more about attaining peace of mind than preparing for death as it prevents assets from being subject to the rules of intestacy, native laws and customs and religious practices. Writing a Will ensures that one’s wishes are carried out and assets are distributed to loved ones and dependents as you wish thereby reducing the likelihood of conflicts and dispute amongst surviving family members.

Bear in mind that even at the age of 21, one can write a valid Will, so your husband is not too young to write a Will. Writing a Will also enables surviving family members to be able to identify and recover all the personal assets that a person might have accumulated over the years but which no one else may be aware of – such as bank accounts and investment accounts.

Wills are something most people are afraid to talk about. It might not be so easy to convince your husband from the onset because it is a very sensitive topic. However, you might want to find a time he is relaxed and in a good mood and talk to him about the advantages of a Will. You should also let your husband know that designating a next of kin does not automatically transfer assets to that person.

Furthermore, you should consider writing your own Will also at the same time that he is writing his. This should not only give him comfort, but also assure you as to your children’s wellbeing should anything happen to you. Since you have a business, however small, it is wise for you to take steps towards organising your estate as well.

If it seems like you are not able to convince him at first, do not fret, building trust and changing perception takes time. Keep at it, as lovingly as you can and hopefully, you’ll succeed. Regarding his refusal to eat meals at home, perhaps you can convince him of his safety by sharing the meal with him. Since you are not likely to poison yourself, he should be convinced the food is safe if you eat together, from the same plate.

I wish you all the best, I am certain your marriage will survive this little hurdle.

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In the news: Investors’ wealth appreciates further by N517 billion

In the news: Investors’ wealth appreciates further by N517 billion

Punch

Licence renewal: BDCs seek extension of January deadline

The Association of Bureaux De Change Operators of Nigeria, the umbrella body of over 3,500 BDC operators licensed by the Central Bank of Nigeria in the country, has called on the regulator to extend the January 31 deadline set for the renewal of operating licence of its members to March 31, 2018.

NNPC seeks 1.46 million MT of petrol for January-April

In a sign that the scarcity of petrol in Nigeria could be more widespread than first expected, the Nigerian National Petroleum Corporation has issued a spot tender seeking 1,480,000 metric tonnes of petrol from January to April, on top of the existing term volumes it imports.

7-UP gives update on planned acquisition

Affelka S.A., the majority shareholder of Seven-Up Bottling Company Plc, who is proposing to acquire all the outstanding and issued shares of SBC that are not currently owned by Affelka, has advised the company that the scheme consideration has been revised upwards to N125 per share.

Edo, Chinese firms sign 5,500bpd modular refinery deal

The Edo State Government on Wednesday said it had signed a Memorandum of Understanding with a Chinese consortium for the construction of a modular refinery in the state.

Average bond yield slides by 0.12%

Owing to buying pressure, the average bond yield declined by 0.12 per cent, to settle at 13.48 per cent at the close of trading on Wednesday.

Guardian

Investors’ wealth appreciates further by N517 billion in one day

The bulls strengthen their hold on the equity sector of the Nigerian Stock Exchange (NSE), yesterday, as more blue chip stocks joined the league of gainers, causing market capitalization to soar significantly by N517 billion.

Nigeria, Switzerland sign legal pact to end dumping

As a key element of modern trade policy, the Federal Government, Tuesday, entered into agreement with leading trade law firm, King and Spalding, LLP, of Geneva, Switzerland, to provide legal services for Nigeria’s trade remedy legislation.

Vanguard

FG to unveil new policy to enhance power distribution

The Ministry of Power said it would  soon  introduce a new policy, targeted at expanding electricity distribution in the nation.

Wike presents Rivers 2018 budget today

Governor Nyesom Wike of Rivers State will today present the state’s 2018 draft budget to the state House of Assembly.

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Source: Articles

ECONOMIC UPDATE: Constructive flows to EMs but headwind prospers

ECONOMIC UPDATE: Constructive flows to EMs but headwind prospers

Recovery in EM growth spurs portfolio flows

In contrast to a sharp decline in capital flows to emerging markets between 2015 and 2016, portfolio flows proved resilient in 2017. The Institute of International Finance (IIF), estimated portfolio inflows to EMs over 2017 at $243 billion (+40%% YoY)— the highest level since 2014— underpinned by broader global economic recovery, higher risk appetite and favourable global financial conditions. On the pull side, higher commodity prices and
improving economic fundamentals which lessened default risk as well as a more stable currency market were key drivers for the strong portfolio flows.

Importantly, despite rate hikes by global central banks, flows to EMs debt was boosted by significant interest differentials with DMs which incentivised carry trade opportunities.Examining trends in asset classes, IIF estimates EMs debt flows at $183 billion (+63.4% YoY) while portfolio flows to equity was projected to moderately contract by 3% to $60 billion. On the supply side of debt flows, rise in government spending across most EM countries underpinned the ramp up in domestic and external debt issuances.

Whereas, concerns over fragile economic recovery, political and policy risk in key EM countries continued to trump portfolio flows into equity. In summary, the ripple effect of improving growth picture in major EM economies and higher commodity prices sustained positive FPI flows over H2 2017 ($81.7billion). Subsequently, we delineate how the interplay between pull and push factors shaped FPI flows across key EM geographies.

 

View full report here

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Four things to consider before buying a company’s shares

Four things to consider before buying a company’s shares

When you buy a company’s shares, you buy into that company. You buy into both their assets and liabilities.  It is therefore wise to properly consider and research into the company before you invest your hard earned money.

If it is a reputable company, you will find information about their activities online. Factors like the profitability of their business activities, the likelihood of growth and expansion and their stake holder relations history are points to consider.

You should also look through their annual reports and financial statements. The pivotal points listed below should guide your decision making:

  • Earnings: Consider the company’s earnings over a period of time. The number stated must always be higher than the previous year.
  • Sales: The number stated here must also be higher than previous years. If they have not made more sales, their profitability and growth are in question.
  • Debt: The number stated here must never be more than the stated assets. It must always be lower than the previous year as well.
  • Equity: This refers to the value of shares offered by a company. This figure must always be higher than the year before.

If the company you are interested in scales through this four-point test, it is safe to invest in them. Your investment is likely to yield satisfactorily. Sign in to ARM Stocktrade and place your trade order.

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Personal Finance with Raphael- Is this a scam?

Personal Finance with Raphael- Is this a scam?

Frank moved to Canada some years ago, not long after his university education in Nigeria. He is doing very well in his career and would like to invest some of his money in Nigeria. A friend told him about a product that pays 30% monthly return on saved capital. Frank likes the high return idea but needs to be sure he is taking the right decision.

He never wants to get broke, and is scared of losing his hard-earned money.

How can Frank ensure investing in the product would be the right decision?

Happy New Year Everyone and welcome to our first edition in the new year; A good way to start the year is to help Frank understand how to identify the right investment instrument or product that would lead to a right decision.

Here we go:

  1. Frank needs to confirm that the product is regulated. For instance; Banks are regulated by the Central Bank, while Asset Management Companies are regulated by the Securities and Exchange Commission. Therefore, the product and Issuers should be regulated.
  2. The product should be advertised through different medium beyond word of mouth. If the product is not talked about on the radio, advertised in the newspapers or Television, seen on a bill board, then Frank needs to be wary of the opportunity.
  3. What’s the total funds under management for the said product? Here’s another question that requires clarification. The Federal Government of Nigeria would always announce the amount they intend to raise via Treasury bills for instance, the ARM Money Fund is about N27m in size. If an investment product cannot provide this information then, Frank should be wary again.
  4. What does the product invest the monies in? if the product cannot speak to this please take a walk.
  5. Who are the people behind the product or the company? Frank needs to know the people behind this investment company or product. If Frank cannot check this box then, he should take a walk.
  6. No legit product pays the same return periodically. Likewise, no legit business will do same. Take for example if you run a business you are not likely to make the same profit every time. Same applies to investing in a product. Even the Federal Government does not pay the same return on Treasury bills every time (check out the yield on Treasury bills a year ago and compare it to now). Therefore, Frank should not invest in any product that pays the same return every time.

If Frank can check all these 6 boxes then, he can go ahead with the investment opportunity. Otherwise, he needs to look elsewhere. These 6 boxes would guide Frank in taking the right investment decision with his hard-earned money in Nigeria and anywhere else in the world.

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4 money moves for expecting parents

4 money moves for expecting parents

Expecting a 2018 baby? You must be excited!

You may already have the list of all the things you need to buy (you’ve probably bought some), your friends and family are planning the most amazing baby shower for you and you can’t wait to begin posting baby pics for the gram and oh, twinning with your ‘little bae’ as soon as possible.

Hey, that’s fine. But while you have all that going, remember that soon, there will be another mouth to feed and another human being to cater for maybe the next two decades. That is enough reason to tackle some financial issues now rather than later.

Before baby comes, think about making these 4 necessary money moves.

  1. Have a talk with your partner

You may not think this is a money move, but trust me, it is. The arrival of a baby is as real as anything can be and decisions will have to be made. Decisions like: Will you be taking the baby to a creche after the first three months or will you need to hire a nanny.

If you decide that your baby will go to a creche or have a nanny, understand that even that comes with additional financial responsibility. Planning towards it now takes the pressure off.

 

  1. Live within your means

With your baby due to arrive soon, it is very important that you live within your means.

You see the thought of getting expensive car seats, baby cots and ‘new everything’ just because baby must have the best? Rethink it. Buy what you need (the less expensive but durable, the better). Resist the temptation to use the arrival of the baby as an excuse to splurge on things you won’t be needing.

Tempted to buy a lot of ‘baby dresses in pink’ because you’re expecting a girl? Awesome, but remember that babies quickly outgrow their clothes and you may see yourself buying more in bigger sizes less than 2 months after the baby is born.

You can also reach out to close family members who have stopped having babies for their baby items that are still in good condition such as cots, prams, walkers, car seats and more. If you don’t mind doing this, you may be able to save some extra cash.

 

  1. Plan ahead

There is a lot of financial pressure to deal with now, think of how much bigger they can get as your child grows and the cost of caring for him/her grows too.

That is why you should think of a plan to not only save more in 2018 but the years after. Saving ahead means financial security for this new person in the picture plus the rest of your family while providing a safety net in case of an emergency. One way to save for your new baby is by putting aside some fund particularly for his/her education even before he/she starts school. Every tiny drop you save will form the much you can pull from when the rising cost of education threatens to empty your pockets in the future.

 

  1. Make more money

If you have various skills and can properly manage your ventures without sacrificing one for the other, then why not get an extra source of income. It doesn’t matter how small, let some other channel be open. It could be freelancing, small business, public speaking – name it! Explore other channels.

If you want to make more money but cannot manage multitasking at some other business, you can invest some portion of your income to make more money for you. In truth, as your family expands, so will financial responsibilities too – but if you plan for that before-hand, you will welcome and even celebrate the growth of your family.

 

Your baby’s arrival is a thing of joy – and planning for the future before the D-day comes will ensure the joy lasts a long time.

 

Do you know any pregnant friends? This might be useful to them. Why not share this.

 

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