Minimum wage: FG tasks Rewane’s technical committee to suggest additional revenue sources
Businessam Staff
January 14, 2019
The Technical Committee on the Implementation of a new Minimum Wage inaugurated last Wednesday by President Muhammadu Buhari has been asked to look for additional sources of revenue to pay the minimum wage and the consequential salary adjustment that will follow. The Minister of Budget and National Planning, Senator Udoma Udo Udoma, during an interactive […]
Stock futures snap four-day rally as trade talks, retailers disappoint
Businessam StaffJanuary 10, 2019
U.S. stock index futures dipped on Thursday, after a solid four-day rally, as lack of details on U.S.-China trade talks gave investors pause, while retailers came under pressure after a couple of disappointing holiday-season reports. Beijing said the talks with Washington were extensive and helped establish a foundation for the resolution, but gave no […]
Jim Kim, World Bank president dumps position for investment firm
Adesola AfolabiJanuary 8, 2019
Jim Yong Kim World Bank President has announced plans to resign from the World Bank on Feb. 1 to join a firm focused on infrastructure investments, the Breton wood institution announced Monday. Kim is leaving the bank nearly three years before his term is set to expire in 2022, to focus on increasing infrastructure investments […]
Nigeria opens 2019 borrowings with 2, 3 year -savings bonds offer at 12.12%, 13.12%, closes Friday
Nse Anthony-UkoJanuary 7, 2019
The federal government has commenced its borrowing activities for year 2019 with savings bonds sales by offering for subscription two-year savings bond at 12.12 per cent and three-year savings bond at 13.12 per cent, the Debt Management Office (DMO) has said. According to the offer circular obtained from the DMO website on Monday, the two-year […]
Wall Street sinks 2 percent on weak factory data, Apple shock
Businessam StaffJanuary 3, 2019
Wall Street sank 2 percent on Thursday as weak U.S. factory data and the fallout of a rare sales warning from Apple Inc fanned fears of slowing growth and spurred the latest leg of a selloff that has sent indexes to their lowest since mid 2017. Apple’s shares slumped 9.2 percent after the company slashed […]
Nigeria commences mandatory use of national identity number
Nse Anthony-UkoJanuary 2, 2019
In line with federal government directive, the implementation of mandatory usage of the National Identification Number (NIN) has commenced with effect from January 1, 2019, the National Identity Management Commission (NIMC) has announced. At its meeting on September 12, 2018 chaired by President Muhammadu Buhari, GCFR, the Federal Executive Council (FEC) approved the new National […]
Bank of China plans perpetual bond sale in capital push
Businessam StaffDecember 26, 2018
Bank of China plans to sell as much as 40 billion yuan ($5.8 billion) of perpetual bonds in what could be the nation’s first ever issuance of such debt by a lender. Shareholders approved the proposal at the end of June, the bank’s representatives said Wednesday in response to Bloomberg queries. Approvals are awaited from […]
DMO enlists support of sub-national entities in managing Nigeria `s rising public debt
Jacob Ajakaiye in KanoDecember 6, 2018
By Jacob Ajakaiye, in Kano The Debt Management Office (DMO), has charged state governments to put in place debt management windows, as well as legislative instruments as a way of effective management of the nation’s raising public debt. The debt office said the call has become imperative, as Nigeria’s total public debt has continue to […]
Nigeria equities market records first gain in December on banking index growth
Adesola AfolabiDecember 4, 2018
Nigeria’s equities market Tuesday recorded a 0.68 percent gain, the first gain of the month, to reverse Monday’s loss. The market had recorded a loss of 0.24 percent on Monday. The upturn was however driven by a 2.62 percent growth in the banking sector performance index on bargain hunting in banking stocks such as Guaranty […]
Nigeria targets low income earners with September bond offer
Adesola AfolabiSeptember 5, 2018
Nigeria’s federal government, through its Debt Management Office (DMO), says its September public bond offer is targeted at low income earners seeking investment opportunities. The government is offering for subscription two-year savings bond at 11.36 percent and three-year savings bond at 12.36 percent, aimed at encouraging savings which is poised to earn more income (interest), […]