The Accountant-General of the Federation, Mr. Jonah Otunla, on Tuesday said the introduction of the Integrated Personnel and Payroll Information System in the public sector had saved the Federal Government N160bn in personnel costs. The IPPIS is one of the Federal Government’s reform initiatives. The IPPIS facilitates planning, aids budgeting, monitors monthly payment of staff emoluments against what is provided for in the budget; and ensures updating and retrieval of personnel records for administrative and pension processes.
Updated 5 Years ago

The Speaker of the House of Representatives, Hon. Aminu Tambuwal was in Abeokuta, Ogun State yesterday to hold a closed-door meeting with former President Olusegun Obasanjo, fueling speculation that he had started consultations on his rumoured quest to contest for the 2015 presidential election. This is Tambuwal’s second visit to the former president within a space of five months. Tambuwal, who met the former leader at his Hilltop GRA residence yesterday held a 20-minute closed-door meeting, however, refused to open up on what was discussed between both men.
Updated 5 Years ago

The biggest lesson for me, from the Osun election, is that no two elections are alike but most voters now think alike. It is now the voters’ market and I believe this is good for all of us. Free and fair elections are trending, thanks to the Transformation Agenda in that sector as powered by President Goodluck Jonathan. Thanks too to the Independent National Electoral Commission (INEC) under the leadership of Attahiru Jega. Thanks again to the ruling party, PDP that has put aside its commando takeover tactics of the past. But it is the electorate that we must really attribute the success of the new dawn to. Voters are getting more sensitive. And politicians, especially those seeking office must wake up and smell the coffee. The days of buying votes appear to be ebbing away. Gone too is the hope that winning the primary ticket is the most important thing to do. You may get the ticket and then get the boot. And there is equally no magic in the best paid campaign ads as the electorate can read between the lines, go beyond the sound bites and make up their minds on what or who they want.
Updated 5 Years ago

The recent adjustment of the modalities for computing banks’ regulatory capital by the Central Bank of Nigeria (CBN) will bring about increased capital-raising for financial institutions. The Managing Director/Head, Africa Research, Standard Chartered Bank, Razia Khan, who stated this in a note yesterday, pointed out that tier-2 debt issuance had already increased, with an increasing number of banks that raised dollar.
Updated 5 Years ago

The Central Bank of Nigeria (CBN) yesterday put the cumulative amount of funds disbursed under the Commercial Agriculture Credit Scheme (CACS) since inception at N236.969 billion. The CBN stated this in its Development Finance Department (DFD) report on the activities of the business unit as at July. According to the banking sector regulator, the amount was in respect of 313 projects.
Updated 5 Years ago

The Federal Government of Nigeria's (FGN) domestic debt at the end of June this year now stands at N7.42 trillion or $46.1 billion, equivalent to 9.2 per cent of the rebased 2013 gross domestic products (GDP), the quarterly data released by the Debt Management Office (DMO) has revealed. Analysis of the numbers shows an increase of N240 billion in the second quarter out of which new issuance of FGN bonds by the DMO accounting for N200 billion.
Updated 5 Years ago

Canada will donate a small quantity of an experimental Ebola vaccine developed in its government lab to the World Health Organization for use in Africa, the country's health minister said on Tuesday. The decision to donate the vaccine came after the WHO said on Tuesday that it was ethical to offer untested drugs to people infected by the virus.
Updated 5 Years ago

Can you take a vacation without a laptop or tablet? If you answered no to this question then you might be facing one or two of the following scenarios: You believe that your role is to make all the important decisions and solve the all significant problems. And you don’t have the right team in place to keep the business on course in your absence.
Updated 5 Years ago

While the debate rages on as to whether entrepreneurs are born or made, one thing can’t be disputed: polishing certain skills can help you be abetter entrepreneur. Whether you’re already great at the following skills or could use a few pointers, these are the areas you should focus on for success. 1. Communication. When you’re a solopreneur, you may think communication is less of an issue, since you don’t have staff to interact with. But you’ve still got to maintain clear lines of communication with your customers via email and phone, as well as ensure that the message you send through your website and social-media profiles is the one you want.
Updated 5 Years ago

Michael Lewis, a former business executive and financial blogger, does not sugar coat things when he says, “owners who cannot efficiently manage their cash flow are almost certain to fail.” Every day new entrants throw their hat into the ring of entrepreneurship. And every day several die off. Many of these entrepreneurs, after spending considerable time fine-tuning their business plan, find themselves scratching their head, wondering why their company, with its innovative product or service, suffered such a fate.
Updated 5 Years ago