Let’s talk about your salary!

Let’s talk about your salary!

When you realise it’s payday and salary is just around the corner. Wawu!

Then you remember all the things you are supposed to pay for and that aso ebi you bought on credit

You start calculating and you watch your salary finish before it even arrives

When the salary finally comes, there’s no joy

You are already broke on the 28th, when the month is not yet over and you still have a whole month to the next salary

There goes your plan to save this month

But it does not have to be that way, what if you learnt to save before you spend?

And actually start working with a monthly budget. It’s easy, see how it is done

To be safe, decide on the amount you want to save and set up a direct debit of that amount to your Money market fund account

Of course, if you are blessed with extra change, you can still save it here

This way, you are no longer broke all the time and you even have money working for you. Issa big boy, yeah?

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Source: Blog

In the news: $14.1b forex deals attract investors

In the news: .1b forex deals attract investors

Punch

98% of documents in crude sale transactions fake — NNPC

The Nigerian National Petroleum Corporation on Sunday announced that about 98 per cent of all documents involved in the sale of crude oil were fake.

Exchange rate: Foreign airlines raise fares

The international airfares from Lagos to various destinations across the globe have recorded a further increase following the announcement of a new dollar exchange rate for the sale of air tickets.

Insurance stocks: Operators, NSE move to attract investors

Operators in the insurance industry and the Nigerian Stock Exchange are strategizing on how to improve the value of insurance stocks and attract investors to the industry.

Naira closes at 370 as dollar supply declines

The naira closed at 370 to the United States dollar on Friday, as dollar supply from the Central Bank of Nigeria continued to wane.

This Day

 Shell, Chevron Unaware of NNPC’s Plan to Extend $1bn Gas Pipeline to Cote d’Ivoire

Shell and Chevron, which are major shareholders in the Chevron-run West African Gas Pipeline Company Limited (WAGPCo), owners of the $1 billion West African Gas Pipeline, are not yet aware of the plan by the Nigerian National Petroleum Corporation (NNPC) to extend the 678-kilometre pipeline to Cote D’Ivoire.

 Nigeria’s E-commerce Market Value to Hit N15.45tn in 10 Years

Currently worth around $13billion (about N4.01trillion), experts in the Nigerian financial service sector have estimated that Nigeria’s e-commerce market value could rise to $50billion (N15.45trillion) over the next decade.

Market Remains Bearish on Continuing Profit-taking

After five weeks of positive performance, the market had the previous week, the market succumbed to the pressure of profit taking, leading to the Nigerian Stock Exchange (NSE) All-Share Index to close   3.35 per cent  lower, despite the release of improved results for the half year results by Access Bank Plc, United Bank for Africa Plc and Ecobank Transnational Incorporated, profit taking continued last week.

CBN Pumps $9.96bn into FX Market in Six Months, Attains Stability

This has helped to ease pressure on Nigeria’s forex market, which prior to the action by the regulator had been pummeled by speculators.

Caverton Shares Rise 16% as Investors React to Chevron Contract

Investors last week renewed demand for the shares of Caverton Offshore Support Group Plc (COSG), following the news of award of a contract to it by Chevron Nigeria Limited (CNL).

The Nation

$14.1b forex deals attract investors

Foreign investors’ confidence in the economy has been on a rise as a result of the $14.1 billion combined foreign exchange (forex) deals from the Investors’ & Exporters’ FX Window – I&E FX Window- and the Central Bank of Nigeria’s (CBN’s) weekly dollar interventions.

LCCI: Why refineries, others are not attracting investments

The Lagos Chamber of Commerce and Industry (LCCI) has identified inappropriate and unimplemented policies, as well as unfriendly business environment, as part of the reasons the refineries and other sectors of the economy have failed to attract the required investments.

Vanguard

Unilever Nigeria Plc: Investment gains in Rights Issue defy bear run

Despite recent profit takings in the equities investors in the Rights Issue of Unilever Nigeria Plc are still on massive discount of over 27 per cent following the price surge in the equity shortly after the offer opened last month.

Cost of funds to fall as N193bn inflow is set to boost interbank liquidity

The interbank money market will, this week, receive liquidity boost of N193 billion from maturing treasury bills prompting further decline in cost of funds.

Reuters

Nigeria overnight lending rate drops on liquidity injection

Nigeria’s overnight lending rate dropped to 12 percent on Friday after spiking to almost 100 percent on Wednesday due to a liquidity squeeze as lenders paid for hard currency and treasury bills purchased from the central bank.

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Source: Blog

In the news: Nigeria’s gas production rises

In the news: Nigeria’s gas production rises

Punch

NNPC, IOCs join forces against oil, gas sabotage

The Nigerian National Petroleum Corporation has said it is working closely with international oil companies to deploy a structured security apparatus in strategic places including the Niger Delta to arrest incidence of oil and gas infrastructure sabotage across the country.

FIRS shuts MRS Oil over N497m tax debt

The Federal Inland Revenue Service on Wednesday closed down an MRS Oil’s facility in Lagos over a tax debt amounting to N497.1m, an action the agency described as part of measures being taken against tax-defaulting companies in the country.

Nigeria’s gas production rises as Shell completes project

Gas production in Nigeria has gained more momentum following the completion of a key project in the Niger Delta by the Shell Petroleum Development Company of Nigeria Limited Joint Venture.

FG inaugurates N61bn local content intervention fund today

The $200m Nigerian Content Intervention Fund would be directed at increasing local content in the oil and gas industry and would be used for projects and other activities in the sector.

This Day

 Afreximbank Seeks to Tap from Investors with $300m Depositary Receipts

The African Export-Import Bank (Afreximbank) yesterday announced the launch of its $300million equity offering, using Depositary Receipts (DRs).

 Access Bank Grows Profit to N52bn, Declares 25k Interim Dividend

Access Bank Plc yesterday recorded a profit before tax of N52 billion for the half year (H1) ended June 30, 2017, showing a growth of 18 per cent above the N43.9 billion in the corresponding period of 2016.

Mobile Banking Grows as Phone Users Hit 29 Million

The Managing Director of Nigeria Inter-Bank Settlement System (NIBSS), Mr. Adesonubi Adebisi, has stated that Nigeria has recorded growth in mobile banking, compared to some African countries.

Discos Remain Weakest Link, Reject 9,310MW of Electricity in Eight Days

Affirming their position as the weakest link in Nigeria’s electricity chain, the 11 electricity distribution companies (Discos) in the country rejected 9,310.64 megawatts (MW) of electricity from the generation companies (Gencos) in the last one week because their distribution facilities could not take up all the electricity.

Guardian

Dangote, Niger State seal N166b pact on sugar production

In its drive for self-sufficiency in sugar production, the Dangote Group yesterday, signed a Memorandum of Understanding (MoU) with Niger State Government for the establishment of a N166-billion state-of–art and fully integrated sugar complex.

NSE’s indices sustain rising profile, up by N34b

Transactions on the equities sector of the Nigerian Stock Exchange (NSE), sustained a rising profile yesterday, as more blue chip stocks appreciated in price, resulting to a further rise in market capitalization of N34billion.

Reuters

Nigeria naira eases on black market as dollar demand resurfaces

Nigerian naira fell on the black market on Wednesday, pressured by demand for dollars from Muslim pilgrims travelling to Saudi Arabia for the haj and individuals paying for school fees abroad.

Nipco Plc raises stake in Nigerian fuel retailer

Nigerian fuel distributor Nipco Plc has bought another 3.23 percent stake in 11 Plc, the fuel retailer formerly known as Mobil Oil Nigeria, for 4.84 billion naira ($16 million) to increase its holding to 70 percent.

Nigeria plans 193 bln naira Treasury bill sale next week

Nigeria plans to raise 193.14 billion naira ($614 mln) worth of treasury bills at an auction on Aug. 30, the central bank said on Wednesday.

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Source: Blog

In the news: How CBN is tackling inflation – Emefiele

In the news: How CBN is tackling inflation – Emefiele

Punch

Govt revenue declined by N183.2bn in July

The revenue accruing to the federation account from oil and non-oil sources recorded a decline of N183.26bn from N570.58bn received in the month of June to N387.31bn in July.

FG may adopt selective minimum wage increase –Osinbajo

Vice President, Yemi Osinbajo says the Federal Government may consider increasing workers’ remuneration package, especially bonuses of certain government agencies, instead of increasing wages across board.

DMO puts MDAs’ outstanding loans at N178bn

Ministries, departments and agencies of the Federal Government have loans amounting to N178.09bn to settle, the Debt Management Office has said.

NLC opposes releasing N38bn to Discos for meters

The Nigeria Labour Congress has criticized the moves by the Federal Government to release N8bn to the electricity distribution companies to procure prepaid meters.

Investment inflow into Nigeria rises by 95% to $1.7bn –NBS

The  National Bureau of Statistics on Tuesday released the capital importation report, stating that investment inflows into the country rose by 95.02 per cent from $884.1million in the first quarter of this year to $1.79billion in the second quarter.

This Day

NSE Index Rises 1.03% as Bulls Regain Control of Market

The Nigerian equities recorded a positive performance on Tuesday with the Nigerian Stock Exchange All Share Index (NSE ASI) appreciating by 1.03 per cent to close at 36,962.48.

Forex Transactions on Investors & Exporters Window Hit $7.62bn

The total turnover of forex transactions on the Investors and Exporters window stood at US$7.62 billion as at August 11.

NNPC to Automate Crude Swap Process, Warns of Illegal Operators

The Nigerian National Petroleum Corporation (NNPC) has said it will open up the process employed in its crude oil for product exchange scheme called Direct-Sale –Direct-Purchase (DSDP) to ensure that it is transparent from the beginning to its end point with its remittance of accrued revenues to the government.

Guardian

NNPC refunds of N450bn shared among states, local governments

The Nigerian Extractive Industry Transparency Initiatives (NEITI) has disclosed that the Nigerian National Petroleum Corporation (NNPC), completed the refund of N450billion to the Federation Account by April 2017, which has been shared among states and local government councils.

Amukpe-Escravos pipeline project ready for completion by Q3

The Amukpe-Escravos Pipeline Project (AEPP), a Joint Venture (JV) of the Nigerian National Petroleum Corporation (NNPC), and Pan Ocean Oil Corporation, has been scheduled to come on stream before the end of this third quarter (Q3).

Vanguard

CBN calls for import reducing policy as Nigeria’s monthly import bill rises by 95% to N588b

The Central Bank of Nigeria, CBN, yesterday said the country’s average monthly import bill rose by 95 per cent to N588 billion in 12 years.

Naira Watch: Naira gains as NAFEX records $100.29m

The Naira  Tuesday recorded marginal appreciation in the Investors & Exporters (I&E) window as the volume of dollars traded declined to $100.29 million.

The Nation

Union Bank seeks approval for N50b new capital raising

Union Bank of Nigeria (UBN) plans to issue about 12.2 billion ordinary shares of 50 kobo each to existing shareholders and employees to raise N50 billion in new equity funds as the first generation bank looks beyond its centenary.

Stock Exchange places 49 firms under caveat

The latest tracker report on corporate governance, regulation and compliance indicated that 49 companies have pending and unresolved compliance and governance issues that place them below the high standards required of quoted companies.

How CBN is tackling inflation, exchange rate volatility – Emefiele

The negative impact of high inflation and exchange rate volatility has prompted the Central Bank of Nigeria (CBN) to tackle both developments head-on, its Governor, Godwin Emefiele, said on Tuesday.

 

Read more news summaries here
 

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Source: Blog

New Regulations set sights on increasing gains for Pension Assets

New Regulations set sights on increasing gains for Pension Assets

Quest for elevated yields boost the Pension Assets

Pension fund assets continued its steady growth with AUM rising 5.4% to N6.4 trillion between year-end 2016 to April 2017. As in prior years, the increase in AUM was driven by increased return on pension funds as fixed income instruments gained +5.43pps, reflecting the prevailing general risk averseness exhibited by PFAs but also tactical shift in asset allocation to take advantage of the elevated yields at the short-end of the yield curve.

Accordingly, T-bills holdings, rose 3.01pps to 15.66%, the quickest rate in 7 months while allocation to bonds fell for the fourth time over the review period. One surprise is the 24% (~N60 billion) increase in CPFA’s allocation to corporate bonds. Given that there were no sizeable corporate bond issues over the period, we suspect the development is likely a reclassification of some sort. Extending the decline of the last three years, variable income holdings fell marginally 0.81pps to 12.8% reflecting the dominance of equities within this asset group.

Specifically, while equities holdings which is 69% of variable income fell (-4%) alongside private equity (-8.36%) and real estate properties (-6.41%), allocation to infrastructure funds doubled to 106.75%. The jump in PFA exposure to infrastructure asset class suggests government’s thrust in channeling pension assets towards infrastructure might be yielding the desire outcomes. Nevertheless, at 0.07% of AUM, PFA investment in infrastructure is yet to scratch the surface.

 

Variable instruments champion new guidelines

On the 18th of April 2017, the National Pension Commission (PENCOM) released amended Regulation on Investment of Pension Fund Assets. Central to the amendment is the introduction of the multi-fund structure which splits the RSA active and Retiree into potentially four funds with varying risk appetite as captured by varying asset allocation via minimum allocation to variable income instruments1. Other notable changes include allowing Pension assets to be invested in companies evolving from a merger, acquisition or combination arrangement and would-be listed companies via IPO or private placement approved by SEC.

Furthermore, the new guideline permits investment of the pension funds in non-interest compliant funds, particularly sukuk bonds issued by either state or corporate entities and the global depository notes. Consequently, the impact of the changes is already being felt in the capital market as the lifting of the investment ban on companies formed from reorganization, in part, led to strong gains of 120%, 13.6%And 90% in Stanbic, FCMB and FBNH over H1 17. Similarly, with Sukuk now investable by PFA, the FGN recently unveiled plans to raise N100 billion Sukuk bond.

Elsewhere, the proposed amendments reviewed the number of ratings required for most qualifying investment to two, and in support of local content, mandates that at least one of the rating should be from a local rating agency. Also, in encouraging more Africa focused infrastructure funds to come to Nigeria, only 60% of the projects have to be in Nigeria vs 75% under the previous regulation.

 

View full July 20th Nigeria Strategy Report  report here

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Source: Blog

Malaria: A big deal and a killer

Malaria: A big deal and a killer

You feel feverish, cold and have lost appetite for food. You know you’re sick. But you must give a name to this sickness.

So, like a genius, the lightbulb comes up in your head and you conclude it must be Malaria. That disease is so easy to diagnose, you think. And so easy to treat. Without thinking, you take a quick trip to Oga Chinedu’s chemist and ask him for ‘malaria medicine’.

But wait a minute. What do you really know about Malaria?

Did you know that half of the world’s population is at risk of this disease? That’s how big a deal it is. In 2015, there were roughly 212 million Malaria cases and an estimated 429,000 resultant deaths.

Among those at high risk of this disease are pregnant women and children. As always, prevention is better than cure. It is necessary that you understand the risks of this illness and make adequate efforts to prevent it.

According to facts published by the World Health Organisation (WHO), Malaria is the cause of spontaneous abortion, premature delivery, stillbirth, and severe maternal anaemia. This fact sheet also reveals that children under five are particularly prone to infection, illness and death. Scary, right? But hey, facts don’t lie.

How well do you protect yourself and children from Malaria?

Now, don’t just move along believing that Malaria is ‘easy’ to cure. Stop and think about how it weakens your immune system and that of your child(ren). When your immune system is weak, your body is open to other types of infection like typhoid and the likes.

Diseases and death can be reduced by proper diagnosis and treatment of Malaria. Knowledge about these preventive, diagnostic and treatment measures is vital.

Tune in to the ARM Living benefits show this Wednesday on Smooth FM 98.1 from 6.40pm to 6.55pm for an in-depth talk on dealing with Malaria

You don’t want to miss it!

 

 

 

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Source: Blog

Job Hunting tip – Research like a private Investigator

Job Hunting tip – Research like a private Investigator

Your resume is great, so what? Your resume is important but it won’t speak audibly on the day of your interview. But what happens if you don’t have the right words to speak? You don’t want to be that person in your job hunting quest who goes in for a job interview unprepared and searching the ceiling for answers.

Research the organization’s history, culture and core business before going for an interview.

No company will smile at an applicant who has zero information about an organization he wants to work at, especially with the ease of assessing information through the internet. Don’t be like ‘Fish’ in this week’s edition of ‘Diary of a Job Seeker’ who wasted his interviewer’s time while sounding and looking clueless (Not seen it yet? Click to watch).

Before you walk in to face your interviewer, you should be prepared. You should know what the company does, it’s history, culture and core business. Reason for this is that most companies want to know if you’re even vaguely aware of the business you wish to be a part of. With the tap of your phone, you can get all the information you need on the company’s website. Get into the website and literally dissect it and eat up all the information you can find on there.

You can also go a step further by going to the company’s social media pages to get a feel of their communication style and persona. Even if these questions don’t come up during your interview, you’ll at least walk in for your interview with confidence and added knowledge especially if you end up working with the organization or their competition. Always remember that no knowledge is a waste.

Arm yourself with research about the company you will be interviewing with to show your readiness and enthusiasm to bring a positive impact upon eventual employment.

Follow the Diary of a Job Hunter series to get more helpful tips as you search for your new job. We keep our fingers crossed with you that your wait and preparation in that job hunting quest will result in the job of your dreams. We will be happy to speak with you about the Pension options and benefits available for you.

Have an interview? Find out what to avoid in this hilarious video.

Stop over next Friday for job seeker tip four, see ya!

The post Job Hunting tip – Research like a private Investigator appeared first on Realising Ambitions.

Source: Blog

In the news: Naira reverses gain

In the news: Naira reverses gain

Punch

Naira reverses gain, closes at 370/dollar

The naira closed at 370 per United States dollar at the parallel market on Friday, reversing the modest gain it recorded on Thursday.

Forex: 700 BDCs under threat over low patronage

No fewer than 700 Bureau De Change operators have come under threat as purported uncompetitive exchange rate continues to hit their bottom line.

Raw materials’ imports gulp N19.5tn in seven years

Although Nigeria and many of the African countries are admired for being commodity markets, a study of importation in the country shows that Nigeria has spent as much as N19.5tn on the importation of primary raw materials into the country in the past seven years.

This day

 External Reserves Chalk up $1.26bn as Shale Oil Threat Persists

The accretion of Nigeria’s foreign exchange (forex) reserves has continued, as figures released by the Central Bank of Nigeria (CBN) have shown that reserves had grown by $1.263 billion this quarter to $31.551 billion as of August 16, compared with the $30.288 billion on June 30.

 FMDQ OTC Exchange Records N78.9tn Transactions in Eight Months

The fixed income and currency markets operated by FMDQ OTC Securities Exchange have recorded transactions worth N78.90 trillion between January and July.

The Guardian

Three tiers of government shared N2.8tr in six months, says NEITI

The three tiers of government shared N2.788 trillion between January and June this year, which represents a 38 per cent increase on the N2.019 trillion shared within the same period last year.

Telecoms operators lament falling revenue over OTT platforms

Telecommunications operators have lamented diminishing revenue caused by the operations of Over-the-Top Platforms (OTT).

Bloomberg

Nigerian President Buhari Vows to Intensify War on Militants

Nigerian President Muhammadu Buhari vowed to step up the fight against the Islamist militants and proponents of secession in his first speech after returning from three months of sick leave in London.

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Source: Blog

A rewarding investment…

Educationtrust

August heralds a new school year. A time to travel with the children, put them in summer camps or have those schooling abroad come home for some family time. While engaging the children during the holiday requires a bit of planning and budgeting, we are relieved the children are returning to school, but we are also aware of the financial commitment that will accompany the new school year.

In less than a month, school fees, hostel fees and other educational levies must be paid. If we are at that stage where the children are going off to university or secondary school next year, we may want to start planning now. It is never early to start planning for the years ahead. You might want to buy property in the country where you would like your children to school or put funds away for retirement.

Although you might not consider it as such, but the thousands of Dollars/Pounds or millions of Naira you shell out regularly to finance your child’s education is in every way an investment. It is an investment in your child’s ambition, a deposit made into their future. While the returns may not be measurable in currency notes, this investment is by all means the most rewarding of your investments and should not be handled with levity.

An investment of such great magnitude deserves to be protected in every way possible. It is important that regardless of the turn of events, your child is able to get the quality of education you desire for him/her.

Whatever stage your child is on the education ladder, a Trust is extremely beneficial. You could want to build up funds for your child’s education in the future or ensure continuity of the same quality of education in the face of unforeseen circumstances. There is so much you can benefit from setting up a Trust.

Wondering what a Trust entails and how it can benefit you particularly? Talk to us today, let us collaborate with you to map out a fool-proof plan to finance their education and secure your children’s future.

Click here to schedule a meeting with your Relationship manager.

 

Fire your Landlord- own your own home!

Fire your Landlord- own your own home!

Ordinarily, Fred’s family and the landlord’s should not have any reason to clash since both duplexes were detached with a separating wall and different gates. However, it seemed like they were still too close.  The complaints never ended, from accusations of noise disturbance to exposure to danger because of Fred’s frequent late return from work. One time, the landlord’s wife told his wife to dismiss the new help she recently employed because she dreamt the lady was fetish. Even Fred found it difficult to believe that conversation really held.

Not long after, he got a first-hand experience of the landlord’s drama. It was a public holiday that day and Fred was enjoying a beautiful afternoon. Two of his friends had come visiting and his wife also had a few friends over since she loved to entertain. Naturally, the guests had found comfortable spots to park outside the compound. Unknown to Fred, one of them had parked extremely close to the landlord’s gate. The landlord however noticed as he drove in and was enraged beyond reason. He stormed to Fred’s part of the house and made his displeasure known in more than a few words, particularly pointing out that if Fred wanted to throw parties every two days, he would have to build his own house and secure parking space next to it. All of Fred’s attempts to curtail the situation and placate the angry man were futile. A few of the guests had even come out to intervene in the situation. It was quite embarrassing to both Fred and his wife.

That night, Fred made up his mind, he was going to get his family out of this house.

As if the universe could feel his pain, later that week, accumulated arrears from contracts he had executed in the previous year were paid. It was clear the money had to be invested in a good property. What options were available? Purchase landed property and build or buy an already finished house? The decision was hardly a tough one, once he came across the offer, he just knew it was for him. Tastefully finished terrace houses, situated in a serene environment, easily accessible and properly secured. Not to talk of the play garden available to the children and spacious driveways suitable for early morning jogs. To cap it up, there was even a twenty percent discount on the properties. Wow! Talk about ticking all the boxes. His wife agreed with him at their first visit, they had found the perfect place to call home.

No one enjoys the discomfort that often accompanies living in a rented house. If like Fred, you are looking for a way to fire your landlord, now is a good time to put together a concrete plan. As the year winds down, bonuses and allowances are often paid among other unexpected income that trickle in. If you put them all together and channel the bulk of it towards getting your property, you might find that you have enough to make that leap. Especially if you take advantage of price promotions or spread out payment-plan options available. Even if you do not have enough funds just yet, it is a good time to start planning  towards owning your own home. Nothing says ‘security’ like a home to call your own.

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Source: Blog