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“Take Advantage of VAIDS, Regularise Your Profile Before Deadline” Photo Caption: Permanent Secretary in Nigeria’s Finance Ministry, Dr. Mahmud Isa-Dutse; Finance Minister, Mrs. Kemi Adeosun and the Queen of Netherlands, Her Majesty, Zorreguieta Cerruiti, during the recent visit of the Queen to the Ministry in Abuja. Barely two months to the end of the March 31, 2018 grace period for update of tax records, under its Voluntary Assets and Income Declaration Scheme (VAIDS), the Federal Government said it is already investigating over 200 cases of under declaration by taxpayers and demand for gratifications by tax officials. The VAID is part of government’s efforts to raise the country’s abysmally low Tax-to-GDP ratio said to be one of the lowest across the world at a time the administration seeks to reduce over dependence on oil revenue. A statement by Oluyinka Akintunde, Special assistant, Media to the Finance Minister, Mrs. Kemi Adeosun, in a statement, on Sunday said the go...

This year’s World Economic Forum Annual Meeting comes at a time of good news for the world economy. As we said in this month’s Global Economic Prospects report, for the first time since the financial crisis, the World Bank is forecasting that the global economy will be operating at or near full capacity. We anticipate growth in advanced economies to moderate slightly, but growth in emerging markets and developing countries should strengthen to 4.5% this year. Global growth is good news for the fight to end poverty and boost shared prosperity around the world. But there are a few things we’re seeing that keep me up at night. First, aspirations are rising all over the world. Nearly everywhere I travel, I see people on smartphones – and thanks to the internet and social media, those people can see how everyone else lives. Our research suggests that as people access the internet, their reference income – the income to which they compare their own – begins to grow, leading to rising...

Market Update for January 3 Trading on the floor of the Nigerian Stock Exchange on Wednesday remained very volatile, reversing previous day’s up market on the strength of losses suffered by highly capitalized stocks during the afternoon session as profit takers sold down their stake in Dangote Cement, Mobil Oil and Nigerian Breweries. Trading started with upside gap up which lasted till midday before gradually pulling back by the afternoon after touching an intraday high of 38,543.28 to close lower than its opening point at 38,187.28 due to market sentiments for high cap stocks that recently rallied. Market technicals was strong as volume increased, just as there was positive market breadth, indicating that players are taking position ahead of quarterly and full year numbers that are underway, especially the March accounts, where stocks like 7-Up, Honeywell Flour, Flourmills and International Brewery are expected to release their third quarter results this month. Numbers fro...

Photo Caption: Director, External Relations, Securities and Exchange Commission Mr. Henry Rowlands, Coordinating Director Operations, SEC, Ms Mary Uduk and Acting Director General SEC Dr. Abdul Zubair during a Press Briefing on the ongoing Capital Market initiatives in Abuja Tuesday. Acting Director General of Securities and Exchange Commission (SEC), Dr. Abdul Zubair, on Tuesday announced a three-month extension of the deadline for investors with multiple subscription to consolidate such into a single account. Addressing newsmen in his Abuja office, he said the forbearance now ends on March 31, 2018, he said, explained that “investors that bought shares of the same company during public offers, using different names, are allowed till 31st March, 2018 to continue to approach their Stockbrokers or Registrars, to regularize their shareholdings, in line with SEC Rules on customer identification.” At the expiration of the deadline, all such unregulaised shares, he warned “shal...

Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family... Kofi Annan Knowledge and action is really what differentiate you from other people. Just as food is good, energise, grow and keep the body healthy so also is knowledge for your mind. Furthermore, knowledge is what keeps our mind in good shape, it helps remove prejudice, bias and lower risk when taking decision inclusive of investment decisions which is why they always say that it is what we don't know that affects us. Similarly in stock, it is knowledge that helps you understand the current trends, models and systems that will help you get the best ROI and reduce the risk. Because things are changing fast and it is only through knowledge that you can change adapt fast. If you look indepth, knowledge about the market that was valid yesterday is no longer valid today which is why I get took my time to package my INVEST SUMMIT into a home study pac...

BudgIT, a civic tech organisation promoting increased standards of transparency, citizen engagement & accountability in Nigeria’s public finance, on Monday said it had discovered “suspicious and frivolous items’ buried in the 2018 Appropriation Act now under consideration at the National Assembly. The sum of all such suspicious items already discovered is about N73.3bn tucked in the budgets of the State House (Presidency), Ministries of Power, Works and Housing, as well as its Industry, Trade and Investment counterpart, DSS, Office of the National Security Adviser, among others. One of such suspicious items, to which BudgIT drew the attention of the National Assembly on its twitter handle is a vague N22.6bn voted for “Research and Development” by the Federal Ministry of Industry, Trade and Investment headquarters. It also seeks to know beneficiaries of a N19.3bn Export Expansion Grant (EEG) appropriated also for the same ministry and whether it does not conflict with the m...