Gauging 2013 Nigeria

It’s New Year Day 2013. Various stakeholders peer into the mint New Year and express significant optimism on its prospects for the Nigerian state, notwithstanding the multi-hued crises of the preceding 2012. This write-up gauges and presents a montage of positions by experts and ordinary folks.

NSE Kick starts market-making process

The management of the Nigerian Stock Exchange (NSE) has concluded arrangements to hold a market-wide workshop on September 11, 2012 as part of activities marking the kick-off of its Market Making initiative.

This initiative will formally commence September 18, 2012 on the Nigerian bourse.

Nigerian Capital Market: Urgent Need For Bail-out!

As the country’s capital market approaches the last quarter of 2012, many operators have expressed worry over Federal Government’s delay in rolling out the intervention initiative it promised the capital market to stimulate confidence in the sector.

The market community had long awaited government’s promise forbearance package to stockbrokers as part of measures to stimulate confidence in the Nigerian capital market and increase liquidity.

Money management tips for young entrepreneurs

The success of any growing business depends on the efficient management of money by its owner. Experts say many young entrepreneurs are good in business, but not good in handling money. This article touches on money management tips for young entrepreneurs

For some individuals, money is the most difficult thing to obtain when starting a business, but it remains the most important asset in any venture, experts say. Unpaid bills, failure in payment of employees’ salaries, unpaid taxes and rents, and other unmet financial obligations can put an entrepreneur out of business.

Ten ways to stay debt free this year and beyond

Staying debt free is never an easy option and for most people overspending each month is the norm. Using these 10 tips may help you to stay debt free this year and in the future.

Ditch the credit card

Credit and store cards will eat your money if you don’t pay them off every month. Interest charges basically mean you are giving lenders your hard earned salary.

N5,000 Note: CBN’s curious currency review

Lamido Sanusi
FEDERAL lawmakers were right on target when they rose on Monday against the latest hare-brained attempt to restructure the national currency. Having got away several times in his three years on the job with controversially tinkering with policies, Lamido Sanusi, the Central Bank of Nigeria Governor, now plans to introduce a new N5,000 note, redesign the existing notes and coin some lower denominations. As usual, the CBN claimed that since President Goodluck Jonathan had bought the idea, the new notes and coins would be in circulation in 2013. For now, this adventure is speculated to cost at least N40 billion. For the sake of our fragile economy, the CBN should be stopped.

Unfolding the currency review, Sanusi said last week that the apex bank would introduce a single N5,000 note, replace the existing N5, N10 and N20 notes with coins and redesign the existing N50, N100, N200, N500 and N1,000. The N5,000 note will be used to honour the contributions of Margaret Ekpo, Funmilayo Ransome-Kuti and Gambo Sawaba to the struggle for Nigeria’s independence. The CBN governor also attributed the proposed introduction of the high denomination note to “inflationary pressures”. The redesign, according to the CBN, is in line with international best practice whereby countries review their currency structure every five to eight years.

Some steps to help you guard against fraud

Fraudsters take pleasure in and are always working hard at defrauding unsuspecting victims of their hard-earned money or valuables. In this report, AEB post on how to guard against fraud, having fallen victim before.

Fraud is a crime. Financial and law enforcement experts say it is an intentional deception perpetrated by a criminal for his or her personal gain or to damage an unsuspecting fellow. The intent of fraud perpetrators is to defrauding and enrich themselves at the expense of others.

FG names global investment guru, Uche Orji, MD of Sovereign Wealth Fund

The Federal Government has announced the appointment of Alhaji Mahey Rasheed as Chairman of Sovereign Wealth Fund (SWF).

Also, a global investment guru, Uche Orji, was named the Managing Director/ Chief Executive Officer (CEO). He resumes October.
Other members of the Board of the SWF, which appointment were announced on Tuesday include: Mr. Arnold Ekpe, Mr. Jide Zeitlin, Mrs. Bili Awosika, Barrister Bisi Soyebo (SAN), Alhaji Hassan Usman and Mrs. Stella Ojekwe-Onyejeli who will also serve as Chief Risk Officer.

Nigerian Capital Market downturn: Stockbrokers diversify operations, invest in agriculture, real estate etc.

With Nigerian capital market showing little signs of recovery, stockbrokers have begun to diversify operations and investments as a survival strategy.

Aside seeking investment opportunities outside the core equities market, most of them have shrunk their operations and relocated to smaller office spaces.

Senate Committee directs CBN to suspend introduction of N5, 000 notes

Illustartion of the planned N5000 with leading female activists. Photo: Courtesy Vanguard newspaper.
The Senate Committee on Banking, Insurance and other Financial Institutions on Monday directed the Central Bank of Nigeria to suspend the introduction of N5, 000 notes until the Senate was properly briefed.

The Chairman of the committee, Senator Bassey Otu (PDP- Cross River) issued the directive while speaking to journalists in Abuja.