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Best ways to spend Easter in Maiduguri

Maiduguri, the capital of Borno State in north-eastern Nigeria, has been boycotted by a number of visitors for a couple of years as the area is considered a red zone.

With Easter weekend slated for Friday, March 25th to Monday, March 28th 2016, Jovago.com, Africa’s No.1 online hotel booking site has some ‘egg’cellent holiday ideas that will keep visitors as well as locals  in Maiduguri smiling ear to ear.

Film Marathon

The perfect thing about running a film marathon is that you do not have to go to a cinema. Dig out all you favorite movies, then invite some friends over so you can spend time watching them back to back. The film marathon could stretch for as long as two days, you just need to make sure you have your steady power supply, food in your fridge and soft pillows to make yourself  a comfortable spot. This activity is safe for people who are not keen on exploring the city or just going outside based on the fear of terrorists.

Food banquet

Food is essential to any holiday and what better way to make the most of your Easter by having a food banquet. For most Christians who are observing the lent, the fasting period ends with the holiday and so they have the chance to pamper their taste buds and fill their stomach with all it missed out on during the fasting period.  You could cook up a platter and invite friends or you can make it a solo party; the idea is to cook a large variety of food and eat till you drop. Alternatively, you can treat yourself to a buffet at one of the classy restaurants around town- this activity will be best enjoyed by a foodie.

Football match

Maiduguri is home to the El-Kanemi Warriors (a popular football team) and has an active local football league. While the players were advised to dump their El Kanemi stadium in 2014 for fear of insurgents, the team has recently returned and there will be most likely be matches slated for the holiday period. If you are a football fan, a good way to make your Easter exciting would be to attend one of these matches and get your adrenaline pumping.

Picnic at the Kyarimi Park

Originally established in 1970 as a forest reserve, before becoming a large wildlife sanctuary and a botanical park, the Sanda Kyarimi Park is one place still provides residents with some semblance of leisure despite the insurrections in the locale. The oldest and largest zoo in Nigeria, it attracts thousands of visitors per year, but continues to be a sanctuary for people who want to relieve themselves of the day’s stress in the city. Spend a couple of hours off your Easter holiday visiting this location. You could certainly carry your food basket and a mat for picnic or you could decide to tour the park and visit other nearby picnic zones such as Alo Lake and Zambiza game reserve.

NERC Accuses Operators Of Performing Below Expectation

The Nigerian Electricity Regulatory Commission (NERC) has accused operators in the nation’s electricity supply industry of performing grossly below expectation. The operators were also guilty of failing to file the appropriation performance reports as required by law.

The commission, which was particularly miffed with the Transmission Company of Nigeria (TCN), said the utility would be queried for defaulting on the reports of its key performance indicators.

NERC disclosed that the Key Performance Indicators (KPI) analyzed from the utilities showed gross under performance.

The Head, Engineering Standards and Safety Department (ES&S) at NERC, Abdullahi Mohammed noted that the review of the KPIs was in exercise of its mandate as stipulated by Section 32 Sub section (2f) of the ESPR Act 2005: “To monitor the operation of the Electricity Market.”

I am not a Magician, Oil Scarcity May Linger Till May – Kachikwu

China’s $70b coming to Nigeria
Ibe Kachikwu, Minister of State for Petroleum Resources

Minister of state for petroleum resources, Dr Ibe Kachikwu, has revealed that the lingering fuel scarcity being experienced in all parts of the country may last for the next two months.

He explained that NNPC had moved from a 50 per cent importer of products to basically a 100 per cent importer, adding that the 445 barrels allocated to it was to cover between 50 and 55 percent importation; so, according to him, it quite a huge feat that the country even has the current amount of the product at the stations.

Asked specifically when the queues will disappear, he said, “One of the trainings I did not receive is that of a magician, but I am working very hard to ensure some of these issues go away.

“And let’s be honest, for the five six months we have been here, NNPC has moved from a 50 per cent importer of products to basically a 100 per cent importer. And the 445 barrels that were allocated was to cover between 50 and 55 percent importation. So it is quite frankly sheer magic that we even have the amount of products at the stations.

“We are looking to see how to get foreign exchange input. The president and I discussed extensively on how to get more crude directed at importation. His Excellency will rather have less crude but have individuals in the society suffer less with inconveniences than have more crude and have them continue to suffer.

“So we are going to put a new model to enable us increase the pace and actually get majors as part of the crew of those to bring in more products so that the NNPC will sort of go back on the capacity of what it used to do and the majors will take over the balance of importation.

Power Blackout Threat to Security – Gov Oshiomhole

Governor of Edo State, Adams Oshiomhole, has expressed displeasure with the power supply by the Benin Electricity Distribution Company (BEDC) to Edo State, saying that it posed threat to security in the state.

He said, “There are a couple of concerns. Sometimes, we have seen some protests, some violent reactions and obstructions and stories about properties being stolen and vandalized, and every day, I am confronted with protests by various communities who are in the dark, either their transformer is not working or it has broken down. There are bills people are paying even without light, or they are being over-billed based on estimates as they have no meters.

“Even the House of Assembly has just spoken to me that they need to spend some money to set up a sub-station that will give more regular power supply. Right now, they are getting less than four hours a day in their residential area. That is an arm of government. They have made a request for a substantial investment for us to provide part of the cost in a distribution chain, and when we provide that and they have access to power, how do we get our fund?

“Recently, the commissioner of Police wrote to me that the police headquarters is in the dark, and that is a serious issue because in the police headquarters, we have cells where there are inmates. And of course, you have offices. Police is 24 hours operation. Now, the transformer has broken down, and the police headquarters is in the dark.  They have informed Benin DISCO, and weeks, months, no solution. Now out of desperation, I have to buy, using tax payers’ money to provide a transformer to the police headquarters.

“I mentioned this because we used Edo people’s money to buy transformer, and you told me now that they have power. Now, what happens when you generate bills?

CIS Cautions Stakeholders on N60b Unclaimed Dividend

CIS President, Mr Seyi Abe

The Chartered Institute of Stockbrokers (CIS) advised stakeholders to apply caution on what to do with the over Sixty billion naira, (N60 billion), unclaimed dividend laying idle within the system to avoid running fowl of extant laws.

Most capital market stakeholders, including associations of shareholders, has its opinion on what to do with the money.

A special committee set up to look into the unclaimed dividend issue by CIS’s council came up with recommendation on how the idle fund, causing rancor in the market, should be used.

The committee confirmed that, ”The issue of unclaimed dividend in the stock market has remained a conundrum in the operation of the  market.”

Adding that, ‘The matter calls for utmost caution to avoid running fowl of extant laws.”

The committee submitted that it might not be appropriate for the unclaimed dividend to be returned to the paying companies as requested by body of Registrars who had also disagreed with the stockbrokers that suggested that the fund should be used to shore up the market.

However, it suggested that the Registrars should be allowed to set up a fund with their respective holdings of the accrued dividend, however, with a mandate that the names of shareholders of outstanding dividends be published periodically.

The Unclaimed dividends were largely made up of warrants of dead shareholders whose next-of-kin or family members do not know that what they need do was to obtain a Letter of Administration for transmission of the shareholdings and be able to convert the warrants to cash.

Other reason for the build-up maybe, legal tussles in some cases; inappropriate record keeping of portfolio; lack of interest by shareholder to cash ‘’small’’ or ‘’insignificant’’ dividend payments.

The absence of authorised signatories needed to sign dividend warrants in defunct corporate bodies, Trade groups and Associations, Change of address by a shareholder and disinformation with the Registrars or the Central Securities Clearing System (CSCS) were some other factors identified.

It could also be the: Non-existence of a functional bank account by the shareholder; Non-compliance of shareholders to the e-dividend mode of payment; Use of proxies to buy shares and the associated encumbrances; Signature irregularities due to infirmities, forgetfulness, loss of memory and many other factors could have led to the N60 billion unclaimed dividend build.

REAL ESTATE & CONSTRUCTION JOBS | Personal Assistant at Le’ Venue Property Development Company Limited

Le’ Venue Property Development Company Limited, the flagship company of the Le‘ Venue Group is a private and independent company which is positioned as a one stop solutions practice to take advantage of opportunities in the Nigerian and global market places. It was incorporated in 2008 and has been in operation ever since.

We are recruiting to fill the position below:

Job Title: Personal Assistant

Location: Lagos

Job Descriptions

  • To provide secretarial and administrative support. Must be reliable, able to work flexible hours and must understand the need for confidentiality in all areas of work.

Duties

  • Diary Management
  • Ensure manager’s office is neatly arranged for the day’s work
  • Screening telephone calls, enquires and requests and handling them when appropriate.
  • Help manage output, workflow and office deadlines
  • Organizing and attending meetings, and ensuring the manager is well prepared for meetings
  • Collect all mails addressed to the manager
  • Take minutes of all meetings
  • Draft, type and dispatch manager’s correspondence
  • Liaise with relevant individuals, external organizations e.t.c to arrange meetings prepare agenda and draft minutes
  • Maintain a comprehensive filing system
  • Co-ordinate manager’s local and international travelling arrangements
  • Make research, media relations and promotional work on behalf of the manager
  • And any other duties that may be assigned.

Qualifications

  • A first Degree in Social Sciences from a recognized University
  • Minimum of 2 years working experience in similar role
  • Female Only

Key Skills/Competencies

  • Good organizational skills
  • Interpersonal skills
  • Confidentiality
  • Proficient use of Microsoft Office Package
  • Communication skills
  • Ability to take initiative and multi-task

Application Closing Date
30th March, 2016.

How to Apply
Interested and qualified candidates should send their Applications with picture to:recruitment@levenuegroup.com

IT/TELECOMS JOBS | Customer Support Managers at MTN Nigeria

MTN Nigeria – The leader in telecommunications in Nigeria, and a part of a diverse community in Africa and the Middle East, our brand is instantly recognisable. It is through our compelling brand that we are able to attract the right talents who we carefully nurture by continuously improving our employment offerings even beyond reward and recognition.

We are recruiting to fill the vacant position below:

Job Title: Customer Support Manager

Location: Lagos

Job Description

  • Extract value from what we already have by focusing on optimizing processes within the Unit/Department in line with the value creation philosophy.  This includes individual contributions and recommendations to improve existing business project/initiative, capital/budget efficiency activities within the Unit, contracts review and negotiation in collaboration with the Procurement team, structural changes within the Unit etc.
  • Drive Innovation by identifying and taking advantage of new business opportunities, e.g., by stimulating and encouraging new business opportunities, launch of products, product/process innovation, business model innovation etc.
  • Maintain leadership in the ICT/Digital industry by influencing stakeholders within your immediate ecosystem for MTNN’s benefit. This includes participation in credible external think-tank sessions, involvement in inter-divisional focus Group sessions to improve business performance etc.
  • Enhance/expand MTN’s role in the larger national macro environment by participating in CSR projects and/or NGO’s, involvement in recognized professional institutions, think-tank activities etc.
  • Role model the vital behaviours needed to sustain organisational performance and drive people management activities by being the principal coach for your direct reports using the people management framework. Participate in employee engagement projects such as mentorship, facilitating programs, etc. In addition, support recruitment, on boarding and grievance management processes etc
  • Provide overall operations support for the operations of MTNN Mobile Financial Services system.
  • Work closely with management team to develop and implement organization strategies, policies and procedures with a view to improve MTNN MFS operational systems in support of organization’s mission.
  • Drive and implement new MFS Customer Support initiatives in line with market dynamics to enhance competitive advantage and foster achievement of divisional targets
  • Ensure timely processing and management of  MFS Super  and Retail  Agents’ commissions to ensure prompt and accurate payment
  • Carry out periodic liquidity management checks on Agents to ensure constant availability of Float and cash to serve customers
  • Resolve all MFS Super and Retail Agents queries and complaints relating to commission payments
  • Review agreed activity and performance reports for Management reporting to ensure relevance, accuracy and timeliness.
  • Review, update and implement PPPs
  • Manage the relevant ECW modules and database for MFS and provide system support
  • Build and acceptance network of Merchants to accept Mobile Money as a means of payment.
  • Give necessary support to the Channel team and Agents.

Job Condition

  • Normal MTNN working conditions
  • Regional and national travel
  • Basic banking/financial services operations
  • ECW fundamentals

Requirements

  • Minimum of 8 years post degree
  • Fluent in English
  • Possession of a postgraduate qualification such as Master of Business Administration (MBA) will be an advantage
  • Minimum of 3 years’ experience in an area of specialization; with experience in supervising/managing others
  • Experience working in a medium to large organization
  • Experience in developing marketing mix and implementation
  • Experience in managing banking operations will be an advantage
  • Business process improvement and analysis experience.

Minimum Qualification

  • BA, BEd, BEng, BSc, BTech or HND.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should APPLY

POLITICS & GOVERNMENT JOBS | United Nations Development Programme (UNDP) Fresh Job Recruitment 2016

United Nations Development Programme (UNDP) helps developing countries attract and use aid effectively. In all our activities, we encourage the protection of human rights, capacity development and the empowerment of women.

We are recruiting to fill the following vacant positions below:

CLICK HERE TO VIEW JOB DETAILS AND APPLY

BANKING & FINANCE JOBS | World Bank Group Fresh Graduate Program 2016

The World Bank Group Analyst Program is a new and unique opportunity for exceptionally talented young people with a passion for international development to contribute to solving some of the world’s most pressing problems.

Applications are invited for the position of:

Job Title: World Bank Group Analyst Program 2016

Location: Nigeria

Description
Through this structured three-year program, you will work in an intellectually challenging and culturally diverse environment within a specific practice, region, or corporate unit in the World Bank Group, which includes the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) and International Center for Settlement of Investment Disputes.

You will have the opportunity to contribute and grow your skills in areas ranging from analytics, research, data management, project management, communications, finance, management accounting, and information technology. In addition, the program offers various cohort activities aimed to broaden your exposure to the work of the World Bank Group and develop leadership skills.

Upon completion of the program, there may be opportunities for you to continue your career in the World Bank Group. Participants holding a Master’s degree who find the opportunity to continue their career at the WBG may also be eligible for advancement opportunities. Alternatively, you may leverage the experience you have gained to pursue further studies or other opportunities in international development.

Program Features
The WBG Analyst Program (WBG AP) offers a mix of challenging work program and a comprehensive development curriculum during the three-year of the program/contract.

Work Program

  • WBG Analysts are selected from recruitment streams that vary every year and range from Operations, Finance, Communication and International Affairs, Information Technology, Management Accounting.
  • The work program is therefore quite varied, too, and can take place in the World Bank, the International Finance Corporation, the Multilateral Investment Guarantee Agency, or the International Center for Settlement of Investment Disputes.
  • Typically, it involves research and analytical work, preparation of visually compelling presentations of data, drafting reports and overviews, coordinating specific programs. Because the WBG Analyst’s work program is very much business-driven, opportunities may come up for cross-support, stretch assignment or even full rotation to another area of the business during the course of their three-year term contract.

At the end of the three-year contract/program, WBG Analyst have several choices:

  • Apply competitively to an analyst position;
  • Apply to an officer’s position (for those meeting the eligibility criteria including holding a master’s degree);
  • Pursue academic studies or other job opportunities outside of the WBG.

Development Curriculum:

  • A three-year comprehensive development curriculum has been designed to ensure that WBG APs develop a WBG mindset, quickly gain the foundational learning needed to understand and contribute to the WBG, and build the competencies required at an analyst’s level – collaboration, leadership, integrative thinking, and innovation skills – while strengthening a culture of continuous learning.
  • The curriculum includes a blend of learning activities in a WBG cohort, small groups or individually, ranging from on-boarding activities, e-learning, cohort discussions with WBG leaders, leadership training, performance management support, career development workshops, and networking opportunities.
  • A technical Buddy is assigned in the hiring units in the WBG Analysts’ first week, as a “go-to person” to answer technical/process questions in their fields.
  • In their second year, a WBG Mentor, a technical senior colleague, are is offered to discuss career options, “stretch/exposure” assignment opportunities and gain insight into the organization’s culture.
  • Throughout the program, WBG Analysts meet in small groups to exchange, in a safe, intimate, and virtual format, some of the challenges they are facing. They receive mutual coaching from their peers, sometimes accompanied by an executive coach or an HR professional.
  • Finally, the Analysts Program team is dedicated to recruiting and helping integrate WBG Analysts into the WBG. It coordinates activities designed to support the cohort, including mentoring and guidance, helping formulate career strategies, and others.

Eligibility Criteria

  • Citizenship of a member country of the World Bank Group
  • Passion to contribute to the World Bank Group mission to end extreme poverty and boost shared prosperity
  • 28 years of age or younger (i.e., born on or after January 1st, 1988)
  • Master’s or Bachelor’s degree in relevant field. Candidates who are currently pursuing a degree are eligible if the degree will be awarded by December 31, 2016
  • One to three years of relevant work experience in one or more specialty areas (see Application and Selection Process )
  • Analytical thinking, proven academic success, strong written and oral communication skills, and leadership potential
  • Experience working or studying in developing countries is preferred
  • Fluency in English is required. Fluency or proficiency in other languages, in particular Arabic, Chinese, French, Portuguese, Spanish or Russian, is preferred.

In addition, successful candidates must demonstrate the World Bank Group Core Competencies (Read more about the Selection Cycle):

  • Deliver results for clients
  • Lead and innovate
  • Collaborate within teams and across boundaries
  • Create, apply and share knowledge
  • Make smart decisions

Compensation & Benefits
Contract: a three-year local term contract is being offered.

  • Salary: WBG Analysts are offered a locally-competitive salary, based on their education and professional experience.
  • Health, Life, Accident and Other Insurance Programs: WBG Analyst and their families (including declared domestic partners) may choose from three comprehensive medical/dental benefit plans. The WBG also provides basic life and accident insurance to all staff at no cost, and staff can elect optional life and accident insurance plans. The WBG also provides disability and Workers’ Compensation coverage to staff at no cost.
  • Pension Plan: The WBG sponsors a comprehensive pension plan for eligible staff. Upon separation from the WBG, either a lump sum or a pension will become payable to the staff based on eligibility.
  • Relocation Benefits on Appointment: For WBG Analysts relocating to a new country, a cash allowance at the discretion of their hiring unit may be granted.
  • Tax Allowance: U.S. staff receive an additional quarterly payment to cover the U.S., state and local income tax liabilities on their World Bank Group income. Expatriates and U.S. permanent residents do not incur U.S. income tax liability and are thus not eligible for this benefit.
  • Financial Assistance: The World Bank Group offers financial assistance programs, including a two-year interest-free settling-in loan to those who relocate upon appointment.

Selection Cycle

  • WBG Analysts are chosen through an intensive and rigorous selection process. Competition is keen. We received thousands of applications last year for a limited number of positions.

Timeline

  • March 16-April 5, 2016: Application Process
  • April 2016:
    • Review of applications against eligibility criteria.
    • Status update to all candidates.
  • April 13-20, 2016: Online logical reasoning and behavioral assessment for candidates meeting the eligibility criteria (one week to complete, no extension possible. We recommend that you save the date already).
  • By April 30, 2016: Update to candidates on assessment results (passed or not passed, thus further considered or not).
  • May through December 31, 2016:
    • Depending on business needs in recruitment streams, candidates are contacted for interviews/further testing.
    • Candidates who are not selected by a particular business unit can be considered by another business unit in the same recruitment stream.
    • Decisions and offers communicated.
    • Status updates to all candidates.
    • Starting date on the job.
  • February 2017: New WBG AP cohort starts development curriculum.

Application Process

  • You may apply and be considered for up to two of the specialty areas listed below. To apply, click on the relevant link; you will be prompted to log into the Member Center or create a new account.
  • Please fill in all fields, answer the screening questions, attach your resume or CV and submit your Statement of Interest (no more than 700 words). Read more about our specific WBG Analyst instructions and details about the Selection cycle.
  • Following the screening of applications against the eligibility criteria, a select number of candidates will be contacted in April to take an online analytical reasoning and behavioral assessment. Other candidates will receive an email to inform them that they have not been selected.
  • The results of this assessment will determine further participation in the recruitment program.
  • Based on the business needs in a specific recruitment stream, a select number of candidates will be approached for further interviewing/testing between Mayand December 31, 2016. Offers will be made during that period.
  • Selected candidates will enter the World Bank Group between May 2016 andFebruary 2017 and will start their development curriculum in February 2017.

Application Closing Date
5th April, 2016.

Method of Application

Interested and qualified candidates should APPLY

Fidelity Bank Raises N30billion MSMEs Fund

Fidelity Bank Plc has said the N30 billion it is raising from the Nigerian capital market will be injected into funding of Micro Small and Medium Enterprises (MSMEs) especially those focused in non-oil exports.

Managing director/chief executive of the bank, Nnamdi Okonkwo, said he foresees an imminent growth in non-oil export as more Nigerians, governments begin to wake up to the huge prospects inherent in the Agricultural and Small Medium Enterprise (SMEs) sectors.

The Bank MD, who made this remark at a one-day workshop/training on exports organised by Koinonia Ventures Limited in conjunction with the bank, expressed high optimism that these sectors, if properly positioned could play significant roles in diversifying Nigeria’s monolithic economy.

He however pointed out that no other time is the subject of import and export substitution more important than now when the country is grappling with a revenue crisis precipitated by the steep decline in crude oil prices and widespread corruption.

The Nigerian Export Promotion Council (NEPC) has predicted that Nigeria’s non-oil sector will generate about $100 billion in export earnings in the next 12 years.

To assist export-oriented MSMEs raise their level of competitiveness in the global market, Okonkwo said the bank had raised N30 billion in corporate bonds on the Nigerian Stock Exchange (NSE).

He said the capital raising exercise is expected to enable the bank fulfil its promise to increase MSME lending to 50 percent by 2017, further adding that the bank has earmarked 80 percent of the net proceed of the bond to finance MSMEs which have been peddled as the next cash cow.

 

“Nigeria Expects Oil Production Freeze” – Kachikwu

Minister of Petroleum Resources Ibe Kachikwu, on Wednesday, March 23, said that Nigeria expects oil producers to agree a supply freeze at a meeting in Doha in April which should stabilize crude prices even if Iran does not join.

Kachikwu has been taking the lead in a global effort aimed at freezing the level of oil supply even though energy experts have cautioned that freezing oil supply may not likely lead to a rebound in the price of the commodity.

Top producers Saudi Arabia and Russia, as well as Qatar and Venezuela have embraced Kachikwu’s suggestion. Qatar has invited OPEC members and major non-OPEC producers to meet on April 17 to agree a freeze following an initial deal in February between Saudi Arabia, Qatar, Venezuela and non-OPEC member Russia to hold supply at January levels.

Kachikwu told Reuters in an interview in Abuja that, “I expect that we will reach a conclusion on stabilisation, to stabilise current production as of January.

London Stock Exchange Admits PenCom DG, Others as Members

The London Stock Exchange Africa Advisory Group has admitted the Director general of the National Pension Commission, PenCom, Chinelo Anohu-Amazu, as pioneer member.

Anohu-Amazu is one of the high-level financial experts from the African continent appointed by the respected London Stock Exchange to provide advisory services on how best to deepen the African Financial markets.

According to a statement, the Group was unveiled at the just-concluded inaugural meeting of the advisory body hosted by the London Stock Exchange in London.

Also appointed were members drawn from the three largest stock exchanges in Sub-Saharan Africa, namely the Johannesburg Stock Exchange, Nigerian Stock Exchange, and Nairobi Securities Exchange.

Among them are the Chief Executive Officer of the Nigerian Stock Exchange, Mr Oscar Onyema and the Chairman of Seplat Petroleum Development Company, Dr Ambrose Bryant Chukwueloka (ABC) Ojiako.

The Johannesburg Stock Exchange, Nigerian Stock Exchange, and Nairobi Securities Exchange account for approximately 80 percent of the market capitalization of public securities in Africa.

However, the development of other stock exchanges, including the top three exchanges, in Sub-Sahara Africa have remained stunted by several factors impacting capital markets, such as low financial depth, high cost of raising capital, patchy liquidity, high market risk, and mutual status.

The PenCom DG and other members of the Advisory Group are, therefore, expected to continually examine these issues and proffer advice that would hopefully change the narrative for the African capital markets for the better.

Police Kicks Off Recruitment of 10,000 Officers

 

The Police Service Commission, PSC, on Wednesday, March 23, announced the commencement of the recruitment of 10,000 policemen as directed by President Muhammadu Buhari at the National Security Summit in 2015 in Abuja.

A statement by the spokesman of the commission, Ikechukwu Ani, said it had on Tuesday in Abuja unveiled the internet website portal for the exercise.

Ani said the chairman of the commission, Mike Okiro, who unveiled the portal announced that it would be open to the public from April 1, indicating the commencement of the recruitment exercise.

The PSC added that interested Nigerians should access the portal through the Commission’s websitewww.psc.gov.ng or that of the Nigeria Police Force, www.npf.gov.ng

It said there would be no charges for the processing of the forms which will be done on-line.

The commission also said it would be recruiting candidates into the three entry points of the Nigeria Police Force which are Constable, Cadet Inspector and Cadet ASP.

There will also be recruitment into the Specialist cadre, the PSC statement said.

“For Police Constables, applicants are expected to posses five credit level passes including Mathematics and English Language at Senior School Certificate Examination in not more than two sittings,” Ani said.

He added that for Cadet Inspectors, in addition to having the requirements of Police Constables, candidates would be expected to have an Ordinary National Diploma (OND), Advanced Level (A level), National Certificate of Education (NCE) or their equivalents.

“Candidates for Cadet ASP must possess a university degree or a Higher National Diploma (HND),” the statement said.

 

NSE, ASEA Host 5th BAFMarkets Seminar

Nigeria's GDP

The Nigerian Stock Exchange (NSE) and African Securities Exchanges Association (ASEA) would co-host the 5th Building African Financial Markets (BAFM) seminar.

The seminar holding for the firs time outside South Africa, is tagged – ‘Addressing Liquidity Concerns in African Capital Market’ and would be held between April 28 and 29 while the ASEA Executive Board meeting holds on the 30th of next month.

CEO, Nigerian Exchange and President ASEA, Oscar Onyema said, the BAFM seminar was designed to promote growth in African financial markets; it also presents an opportunity for participants to enhance their capacity, create an opportunity for them to interact and also be able compete effectively at the global stage.

“The seminar aims to accelerate dialogue, capacity building and collaboration among participants to drive the growth of Africa’s capital markets, build collaboration on issues of shared interest in order to present the African continent as an attractive investment destination”, he said.

He further said that, “As African economies re-position themselves following the significant impact of global headwinds that have challenged the continent’s growth prospects, African securities exchanges must step up their efforts at driving liquidity in their markets in order to help finance the continent’s infrastructure and capital requirements.”

He said, “Initiatives such as this, forms an integral part of the continued development of sustainable economies within the continent bearing in mind peculiar strengths that we could leverage individually and collectively as we press forward.”

The Seminar would feature leaders of thought from dominant African financial institutions, multilateral organisations and regulators that would moderate discussions on the various topics such as: Strengthening equity market structure in Africa to better address low liquidity.

Instituting an optimal pricing mechanism on African exchanges; Cross border capital market integration – a catalyst for boosting liquidity on African Stock Exchanges, are some of the other topics to be treated.

 

FG Plans Container Weigh-stations to Beat IMO July Deadline

The Federal Government is set to establish weigh-stations at the nation’s seaport to beat the deadline of the new International Maritime Organization, IMO, law that makes it compulsory for all consignment meant for export to be weighed before leaving their port of origin.

The law is expected to take effect from the 1st of July, 2016.

A senior staff in the ministry of transportation, who revealed this to Vanguard in Abuja,  said that government is considering whether to construct the weigh-stations directly before concessioning them or construct them on a Public-Private Partnership basis.

The source said that they are expecting a recommendation to that effect from the Nigerian Shippers Council, NSC, at the end of the just concluded workshop themed, “Transport cost and regional connectivity of African countries.”

The NSC official said that they also considered the option of allowing terminal operators to handle the weighing of such consignments but reasoned that the terminal operators may use it as a means of further exploiting Nigerian shippers.

 

Food, Beverage Sector to Sack 3million Workers Over Forex Crisis

An alarm was on Wednesday, March 23 raised by the Organized Labor over the imminent job loss in the food, beverage and tobacco sector of the nation’s economy.
It said over three million jobs were at risk due to the inability of companies to source foreign exchange to import raw material for operations.

Already, leading companies in the sector, such as Nigerian Flour Mills, Nigerian Breweries Limited, Guinness Plc, Nigerian Bottling Company, 7-UP Bottling Company Plc, Friesland Campina Wamco Plc, among others, have written to labour for discussions on retrenchment of workers.

In the last three months, no fewer than 1,500 workers had been sacked in the sector as employers seek ways of coping with foreign exchange crisis, among other challenges.

At a briefing in Lagos, leaders of Food, Beverage and Tobacco Senior Staff Association, FOBTOB, called on government to intervene to save the industry and over three million jobs.

President of FOBTOB, Quadri Olaleye, claimed that employers in the sector had devised every opportunity to sack workers, adding that between the 2012 and the first half of 2015, over 3,000 workers were sacked in the guise of re-engineering, restructuring, right sizing, downsizing, redundancy and re-organisation.

He lamented that over the years, the same excuse of difficult business terrain, dwindling profit, irregular and insufficient power supply, and so on had been given.

He said: “The current situation has reached a pathetic level, because it seems all the employers in our sector are in competition with each other on who can lay off the most workers.

“Every company is now calling for a downsizing of the workforce, and this time under the guise of lack of foreign exchange due to the Federal Government’s recent policy on foreign exchange.”

 

Lagos, Kebbi Sign MoU to Meet 70% of Nigeria’s Rice Needs

The Lagos and Kebbi State Governments, on Wednesday, March 23, signed a memorandum of understanding (MoU) which they said would see to  the production of 70 per cent of Nigeria’s rice requirements yearly.

The agreement was sealed at the State House, Alausa, Ikeja, Lagos wednesday by the Lagos State Governor, Mr. Akinwunmi Ambode, and his Kebbi State counterpart, Alhaji Atiku Bagudu, along with representatives of the two governments.

The signing of the MoU was witnessed by members of the State Executive Council from the two states, representatives of the two Houses of Assembly, leaders of All Progressives Congress (APC), traditional rulers, community leaders among others

The agreement, which principally centres on boosting the production of wheat, ground nut, maize, millet, sorghum, sugar cane, cows among others, was the first state-to-state relations in the country.

Before signing the agreement, Bagudu unequivocally disclosed that the goal of Lagos-Kebbi partnership on food production was “to produce 60 to 70 per cent of Nigeria’s rice needs, and replicate same in other food items.”

He therefore explained that in the world of genetically modified food, the partnership between Lagos and Kebbi States was an additional motivation to provide certainties for the people in terms of food production and sufficiency.

Bagudu noted that both states “have had a long history of trade, and that the signing of the MoU was another way of cementing the relationship with the view to making the people get richer. Lagos is the most entrepreneurial part of Nigeria.

“Lagos, if it were a country itself, is a country that other states will be going to establish a relationship with, and so why not state to state. So, what we are doing is to pioneer a collaboration that will bring other states on board later as we believe that our potentials are enormous, and we must have pacesetters to start that process of joint collaboration for our collective good.”

Giving an insight into the signing of the agreement, Ambode acknowledged that the ceremony was to formalise an agreement between Lagos and Kebbi States “to enter into a partnership for food processing, production and distribution.”

 

 

Bear Run Reverses Four-Day Growth as NSE Index Slides 1.09%

Trading activities on the Nigerian Stock Exchange, NSE, on Wednesday, March 23, resumed southward movement with the market indices plunging by 1.09 per cent, reversing the four-day growth.

The All-Share Index lost 283.40 points or 1.09 per cent to close at 25,736.92, compared with the 26,020.32 recorded on Tuesday, March 22.

The plunge was attributed to the value depreciation recorded in the stocks of FBN Holdings, Total Nigeria, Mobil, Zenith Bank, Dangote Cement, GT Bank and Lafarge Africa.

Mobil Oil recorded the highest loss, to lead the losers’ chart with a loss of N7.54, to close at N154.91 per share.
Total trailed with N7.49 to close at N142.46, while Dangote Cement depreciated by N4 to close at N164 per share.
Guinness lost N3.07 to close at N108.93 and Seplat dropped by N3 to close at N308 per share.

Conversely, Nigerian Breweries led the gainers’ table, increasing by N4.41 to close at N113.61 per share.
Vitafoam followed with a gain of 20k to close at N4.30, while NAHCO gained 19k to close at N3,99 per share.

Oando increased by 9k to close at N4 and Fidelity Bank appreciated by 6k to close at N1.40 per share.
United Capital emerged the most active stock, exchanging 95.96 million shares worth N199.62 million.

Access Bank followed with an exchange of 60.75 million shares valued at N239.84 million and Multitrex traded 40 million shares worth N20 million.

The FCMB Group sold 38.13 million shares worth N29 million and Zenith Bank transacted 28.68 million shares valued at N356.49 million.

In all, a total of 398.28 million shares worth N2.65 billion were exchanged by investors in 3,581 deals.
NAN reports that this was against the 344.12 million shares valued at N2.46 billion traded in 4,386 deals on Tuesday. (NAN)

 

Nigerian Bond Yields Soar After Interest Rate Hike

Nigerian bond yields jumped across the curve on Wednesday, March 23, after the central bank unexpectedly tightened monetary policy in an effort to attract foreign investors.

The Central Bank of Nigeria, CBN, yesterday spiked its benchmark rate to 12 per cent from 11 percent, having cut rates only four months ago by 2 percentage points, and lifted the cash reserve ratio for commercial banks to 22.5 per cent from 20 per cent.

Yields on the benchmark 20-year bond climbed 55 basis points (bps) to 12.7 per cent while the 10-year yield climbed 45 bps to 12.65 per cent. The yield on five-year paper, the most liquid maturity, gained 41 bps to 11.7 per cent.

CBN governor Godwin Emefiele, said extra liquidity had not translated into more lending and cited inflation, at a 3-1/2-year high of 11.4 percent last month, and well above the central bank target of 6 per cent to 9 per cent.

 

Market Capitalization Sheds N97 billion As Profit Taking Resurfaces

Activities at the Nigerian Stock Market on Wednesday, March 23, were characterized by series of losses as profit taking resurfaces.

The market capitalization shed N97 billion or 1.09 per cent to close at N8.853 trillion, as against the N8.950 trillion achieved on Tuesday.

Market analysts attributed the slide to profit taking embarked upon by some investors, due to a hike in the Monetary Policy Rate (MPR) to 12 per cent from 11 per cent.

They stated that the dip was impacted by value depreciation recorded in the stocks of FBN Holdings, Total Nigeria, Mobil, Zenith Bank, Dangote Cement, GT Bank and Lafarge Africa.

Mobil Oil recorded the highest loss, to lead the losers’ chart with a loss of N7.54, to close at N154.91 per share.
Total trailed with N7.49 to close at N142.46, while Dangote Cement depreciated by N4 to close at N164 per share.
Guinness lost N3.07 to close at N108.93 and Seplat dropped by N3 to close at N308 per share.

Conversely, Nigerian Breweries led the gainers’ table, increasing by N4.41 to close at N113.61 per share.
Vitafoam followed with a gain of 20k to close at N4.30, while NAHCO gained 19k to close at N3,99 per share.

Oando increased by 9k to close at N4 and Fidelity Bank appreciated by 6k to close at N1.40 per share.
United Capital emerged the most active stock, exchanging 95.96 million shares worth N199.62 million.

Access Bank followed with an exchange of 60.75 million shares valued at N239.84 million and Multitrex traded 40 million shares worth N20 million.

The FCMB Group sold 38.13 million shares worth N29 million and Zenith Bank transacted 28.68 million shares valued at N356.49 million.

In all, a total of 398.28 million shares worth N2.65 billion were exchanged by investors in 3,581 deals.
NAN reports that this was against the 344.12 million shares valued at N2.46 billion traded in 4,386 deals on Tuesday. (NAN)

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