LCCI DG, Muda Yusuf identifies odds against pension fund’s assets growth

The Director General of the Lagos Chambers of Commerce and Industry (LCCI), Dr. Muda Yusuf, has lamented that low yield on fixed-income securities like  treasury bills at around one to two per cent and rising inflation currently at 13.71 per cent have continued  threaten real growth of pension fund assets in the near to medium term. Yusuf made the revelation while addressing pension and insurance correspondents in Lagos, recently. The LCCI boss, who advocated the de-risking of the real sector to entice more investors, said given their low risk nature, a large chunk…

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Financial Inclusion: FirstBank targets children with Kidsfirst, Mefirst accounts

Financial Inclusion: FirstBank targets children with Kidsfirst, Mefirst accounts

First Bank of Nigeria Limited, has announced its variant account products – KidsFirst and MeFirst – created to encourage the right savings culture among children from 0 – 17 years. The offerings have relevant enhancements including appropriate parental guidance and financial discipline for children as they grow into adulthood. Both accounts can be opened with zero balance and operated with a minimum balance of N100.00. KidsFirst Account is designed for children between the ages of 0 and 12 years to sensitise them on how exciting saving can be. The account comes…

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NITMA 2020: NCS set to reward excellence in Nigeria’s IT space

The Nigeria Computer Society (NCS) has commenced plan to honour individuals with laudable contributions to information technology development in the country via its 2020 edition of National Information Technology Merit Awards (NITMA). Professor Adesina Sodiya, the NCS President said at a conference on Tuesday that NITMA is in line with the agenda of the society to achieve sustainable development, and promoting digital economy in Nigeria through Information Technology, by promoting promotes excellence and significant impact. “Annually the Nigeria Computer Society recognizes, celebrates and rewards outstanding excellence and exceptional contributions in…

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PHOTO NEWS: Nigerian Stock Exchange’s 59th AGM

Photo 1: L-R shows: Ms. Mojisola Adeola, Council Secretary, The Nigerian Stock Exchange (NSE); Mr. Oscar N. Onyema, OON, Chief Executive Officer, NSE; Otunba Abimbola Ogunbanjo, President, National Council, NSE; Ms. Catherine Echeozo, 2nd Vice President, National Council, NSE and Mr. Oluwole Adeosun, Member, National Council, NSE, at the 59th Annual General Meeting of Members of The Nigerian Stock Exchange on Wednesday, 18 November 2020.   Photo 2: L-R shows: Mr. Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Otunba Abimbola Ogunbanjo, President, National Council, NSE;…

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UACN transfers 8.519bn UPDC shares to Custodian Investment for N5.964bn

Barely three and half months after it announced a change of plan to dispose of its stake in its subsidiary, directors of UAC of Nigeria, the nation’s oldest conglomerate, on Tuesday formally transferred a total of 8,519,810,121 share units of its subsidiary- UACN Property Development Company Plc for N5.964 billion, according to trading statistics of the Nigerian Stock Exchange (NSE). Although, no details are yet available, the volume represents the balance of 45.9 per cent of the paid up capital of the company, meaning that approval may have been received…

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FireForFire: Twitter hires famous hacker to head its cyber security

Twitter reactivates NCC’s twitter account

By David Alonge  ______________ Twitter has appointed a famous American hacker Peiter Zatko, popularly known as ‘Mudge’, as its new head of cybersecurity. The appointment comes a few months after the biggest cybersecurity crisis hits the social media giant where prominent accounts were hacked. Recalled that in July 2020, Twitter was hacked by a group of young hackers who gained access to internal tools, publishing messages from the accounts of prominent people including Elon Musk, Bill Gates and the current president-elect of the United State, Joe Biden. In an exclusive interview…

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Fintechs fidget as Google launches new Pay App

By David Alonge Digital tech giant, Google is set to launch a new pay app, Google Pay, with a Live video announcement in strengthening its digital bank accounts goal. The video premieres today, Wednesday at 9:27 AM(PT) (18:27 Nigeria Time) on Google’s YouTube Channel. The video is currently pending a livestream starting at that time and the video’s description says: “We invite you to watch live and learn more about the new Google Pay app, designed to help you improve your relationship with money. It’s coming to Android and iOS,…

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Stakeholders prime hastened e-government in Nigeria

Stakeholders across private and public sectors in Nigeria have emphasised the need to accelerate process that will lead to broad e-government adoption in the country, targeting the many benefits derivable from e-government. Speaking at The Nigeria eGovernment Summit 2020, themed ‘COVID-19: Impetus for Accelerated eGovernment Adoption’ held in Lagos on Tuesday, consensus of the experts tilted in favour of collaborations among stakeholders to attain the eGovernment status. In his welcome address, Engr Lanre Ajayi, executive chairman of DigiServe Network Services (the convener to the summit), said many challenges bedevilling the…

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NSE: Profit-Taking May Slowdown On Cautious Trading Ahead Of MPC Meeting

info@investdataonline.com info@investdata.com.ng ambrose.o@investdataonline.com ambroseconsultants@yahoo.com

Market Update for November 17 Profit-taking continued on the Nigerian Stock Exchange (NSE) on Tuesday with the benchmark All-Share index closing on a negative note, the third straight session, while market sentiment remained mixed and volatility high. The high volatility was driven by selloffs in Consumer and industrial goods large-cap stocks, with investors waiting expectedly for the remaining banking sector earnings reports and outcome of the Central Bank of Nigeria (CBN) Monetary Policy Committee meeting next week, the last for the year, boosting investors optimism. The ongoing price correction in…

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