Finance articles

Addis Asset Recovery Expert Meeting: Matters Arising

Addis Asset Recovery Expert Meeting: Matters Arising

By Bob MajiriOghene Etemiku President Muhammadu Buhari’s initial response to the efforts to recover the Abacha loot was a syllabus of errors. Some errors have rights. Others don’t. Those errors that have rights are capricious and can be remedied. Errors without rights are deliberately made. You’ll be able to make up your mind on whether

Fayose threatens to sue FG over Eurobond, likens APC to biblical prodigal son

Ayodele Fayose, governor of Ekiti state, has compared the All Progressives Congress (APC) to the “biblical prodigal son”. Expressing concerns over the plan of the current administration to lend $1bn Eurobond, Fayose threatened to sue the federal government over the issue. He said he was worried that the deal could plunge the country into more

Nigeria’s 3rd Eurobond issue over-subscribed despite economic crisis

In spite of the gloom on the country’s economy, investor confidence in Nigeria remains high as the $1 billion Eurobond issued by the federal government on Thursday was over-subscribed by almost eight times. The over-subscription was with orders in excess of $7.8 billion compared to a pre-issuance target of $1 billion. The bond, issued under

South Africa introduces $260 minimum wage as Nigeria’s remains stuck at $60

South Africa will introduce a national minimum wage of 3,500 rand ($261) per month in 2018, Deputy President Cyril Ramaphosa said on Thursday, according to a Reuters report. The announcement follows protracted negotiations between the government and labour unions. Nigeria’s current minimum wage is N18,000 ($60) with organised labour asking it be increased to at

SEC signs MoU with NERDC on introduction of Capital Market Studies

The Securities and Exchange Commission (SEC) is set to achieve another milestone by infusing capital market studies (CMS) into schools curriculum with the signing of a Memorandum of Understanding (MoU) with the Nigerian Educational Research and Development Council (NERDC). This was done weekend at the Commission’s head office in Abuja in an effort to revive

High Court throws out BGL’s suits against SEC for “Incompetence”

The Federal High Court sitting in Lagos has delivered judgment in the three cases filed against the Securities and Exchange Commission (SEC) by BGL Plc, its sponsored individuals and subsidiaries. The cases BGL brought before the Lagos High Court against the Commission include: I. FHC/L/CS/767/2015 BGL PLC & 4 ORS VS SECURITIES AND EXCHANGE COMMISSION

2017 Budget threatened as Senate lays MTEF aside over incompleteness

Hope of the 2017 budget being passed on time dimmed with the Senate casting aside the Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP). The MTEF/FSP lays the foundation for the budget and the law requires that it be passed by the National Assembly before the budget is passed. This is regardless of the fact that

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