The Kwara Government says it spends N1.3 billion every month to pay more than 50,000 workers on its payroll. The state Head of Service, Alhaji Dabarako Mohammed, said this on Thursday in Ilorin in an interview with the News Agency of Nigeria (NAN...
Some operators of microfinance banks on Thursday expressed optimism that lending rates in the sub-sector would drop in 2013. They said that lending rates in the sub-sector would drop as soon as operators were able to access the Micro Small and Me...
Four persons lost their lives in a canoe mishap in Kirikasamma Local Government Area of Jigawa, an eyewitness has said. The witness told the News Agency of Nigeria (NAN) that the accident occurred on Tuesday when a wooden canoe conveying nine pas...
Mr Emeka Madubuike, the Chairman, Securities and Exchange (SEC) Committee on Dematerialisation, says the commission may shelve the nationwide dematerialisation awareness campaigns scheduled to start on Jan. 31.
Madubuike told the News Agency of Nigeria (NAN) in Lagos on Thursday that the postponement was due to the zero allocation to SEC in 2013 federal budget by the National Assembly.
Dematerialisation is the process of replacing paper share certificates with electronic records at the Central Securities Clearing System.
He said that the campaign would not be feasible because SEC needed funds to carry out the elaborate campaigns.
Madubuike, who is also the President Association of Stockbroking Houses of Nigeria (ASHON), said that the zero allocation would affect other initiatives to revamp the capital market in 2013.
According to him, SEC cannot approve the committee's report for the Jan. 31, 2013 date because of the House of the Representatives’ stance that the commission’s director-general must be removed.
Madubuike, however, called for quick resolution of the impasse by the Presidency in the interest of the capital market and the total economy.
NAN recalled that the House of Representatives directed the withholding of SEC's allocation in the 2013 Appropriation Bill it passed on Dec.20.
This followed the lower legislative chamber's decision not to have anything to do with SEC until Ms Arunma Oteh is removed as the director-general.
The commission had proposed to spend about N93 million to execute the dematerialisation policy. Oteh had said at the 2nd Annual Capital Market Committee Retreat in Warri, Delta, in December, that some shareholders were resisting dematerialisation policy due to lack of knowledge of its benefits.
Oteh reiterated that asset transfer from one investor to the other would be much easier in a dematerialised market.
The director-general said that road shows and enlightenment campaign were imperative to sensitise Nigerians on its benefits to avoid resistance.
The All Farmers Association of Nigeria (AFAN) in Gombe State has urged the Federal and state governments to plan for early supply of agricultural inputs for the 2013 farming season Alhaji Umar Abdullahi, the state Chairman of the association, made the ...
A labour leader, Mr Bede Opara, has advised the Federal Government to pay the full severance entitlements of the disengaged workers of PHCN. He said that failure to pay the full severance packages to the disengaged workers could worsen the woes of the ...
The commander of the Niger Delta Joint Military Task Force, code-named ‘Operation Pulo Shield,’ Major General Johnson Ochoga, in a chat with Osa Okhomina, reviews the campaign against crude oil theft, and the complicity of some foreigners a...
The Police Command in Kano State has arrested a man suspected to have sponsored the killing of two members of the state legislature. The News Agency of Nigeria (NAN) recalled that one of the legislators, Alhaji Garba Garko, was killed on November 17, 2...
Former President Chief Olusegun Obasanjo, has said that the surest way for Peoples Democratic Party (PDP) to win elections in Lagos State is for the party leaders in the State to bury their individual ego and remain united. The former President said th...
The Action Congress of Nigeria (ACN) has described as irresponsible, cheap and inflammatory PDP’s statement that President Goodluck Jonathan is being criticised by the opposition because he is from a minority geo-political zone. In a statement is...
Former Military Head of State and presidential candidate of the Congress for Progressive Change (CPC) in the last 2011 Presidential election, Gen. Muhammadu Buhari (rtd) has condoled with Lagos State Governor, Alhaji Babatunde Raji Fashola (SAN) over t...
The former President, Chief Olusegun Obasanjo was yesterday full of praises to God as he narrated how he narrowly escaped from the inferno that gutted his hilltop mansion last week. Obasanjo, while receiving the executive members of the Peoples D...
The senior special assistant to the Nasarawa State governor on media and press affairs, Alhaji Sani Musa Mairiga has said that what the Peoples Democratic Party (PDP) government failed to achieve in 12 years in Nasarawa State has been achieved in just ...
The Kwara State governor ,Alh AbdulFatah Ahmed has announced his administration’s resolve to partner with stakeholders and religious bodies in moving the education sector forward in the state. He said this would help the state in ...
The Nigerian Governors Forum, (NGF) yesterday, said that it would not join issues with Senator Jubril Aminu over his allegation that the Forum has become a tool of oppression on the Federal Government and the people of Nigeria. Speaking exclusively to ...