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Tag: Deadline

  • Congress: PDP extends deadline for sale of forms

    The Peoples Democratic Party (PDP) has extended deadline for sale of forms for its various congresses by one week.

    PDP in a statement issued by its National Publicity Secretary, Mr Kola Ologbondiyan said that the deadline had been extended from Feb. 22 to Feb. 29.

    “By this, the party extends the last day for the sale of forms from the earlier announced date of Saturday, Feb. 22, to a new date of Saturday, Feb. 29.

    “All leaders, critical stakeholders and teeming members of our great party at all levels should be guided accordingly,” Ologbondiyan is quoted by the News Agency of Nigeria (NAN).

  • SEC Gives Stockbrokers Deadline to File Liquidity Position

    SEC Gives Stockbrokers Deadline to File Liquidity Position

    Brokers and dealers in the nation’s capital market have been directed to compute and file their monthly net liquid capital position not later than five days after end of the month.

    In a directive posted on its platform on Wednesday, the apex regulator in the country’s capital market said for the 2020 returns, the brokers must file their net liquid capital on or before February 5, 2020. The returns are required to be sent to the agency and the Nigerian Stock Exchange (NSE).

    It was stated that failure to file the returns as required would attract appropriate sanctions and they must be submitted “in the manner prescribed by the commission from time to time.”

    According to SEC, the computation must reflect the true and fair position of all assets and liabilities of the broker/dealer, while material mis-statement or omission would be regarded as misleading the commission and shall attract appropriate sanction.

    “Where established financial claims against a broker have been omitted from the computation of the net liquid capital, the commission shall adjust the net liquid capital of the concerned broker-dealer;

    “Where a broker-dealer is suspended from trading as a result of a short-fall in its net liquid capital, the broker-dealer shall be subject to verification for compliance prior to the commission’s approval for lifting of the suspension.

    “Every broker-dealer is expected to comply with this guideline. Returns for January 2020 on net liquid capital are expected on or before 5th February 2020. The returns should be filed with the commission via brokers@sec.gov.ng, while the reporting template can be downloaded from the SEC website,” it said.

    The notice further said, “The commission may request for evidence of existence of assets or institute an asset verification exercise when necessary to substantiate claims. A broker-dealer is also required to avail the commission relevant evidence of significant changes in position of assets.”

  • FG announces deadline for submission of 2020 budget details

    FG announces deadline for submission of 2020 budget details

    The Federal Government has set the deadline for the submission of the 2020 budget proposals by Ministries, Departments, and Agencies (MDAs) for Friday, September 20, 2019.

    This was disclosed in the 2020 Budget Call Circular released by the Budget Office of the Federation on Monday, which set out the requirements and instructions that must be satisfied and followed ahead of preparations of the 2020 Federal Government of Nigeria Budget Proposal.

    The document directed the MDAs to take into consideration the policies and strategies contained in the 2020 – 2022 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) which outlines Nigeria’s development priorities.

    “Ministries are required to make their submissions online using the GIFMIS Budget Preparation Module not later than Friday, 20th September, 2019.

    “The Chief Executive/Accounting Officers must endorse hard copies of their budget submissions, attesting to their correctness and compliance with this Circular using the attached Annexure 1,” the circular said.

    MDAs were further told to consider the key parameters which align with the global and domestic economic outlook, such as oil price of $55 per barrel; 2.18 million barrel per day production; inflation rate at 10.81 percent; GDP growth rate of 2.93 percent; and exchange rate of N305/$.

    In accordance with the 2020 – 2022 Medium-Term Expenditure Framework and Fiscal Strategy Paper, the aggregate FGN revenue available for budget for the 2020 fiscal year was projected at N7.7 billion.

    According to the document, the aggregate expenditure level was projected at N10 billion, made up of Statutory Transfers of N531.49 billion, Debt Service of N2,452.60 billion, Sinking Fund of N296 billion Recurrent (non-debt) expenditure of N4,844.97 billion and Capital expenditure (exclusive of capital in Statutory Transfers) of N1,877.22 billion of which MDAs Capital expenditure is N1.01 billion.

    In line with the Federal Government’s Open Government Partnership all MDAs have been advised to upload their respective 2020 budget proposals on the website of their ministries, departments or agencies within one week after the 2020 Budget proposal is submitted to the National Assembly ostensibly by the end of this month.

    Both the executive and the legislative arms of government hope to return the country to a budget cycle of January to December.

  • SEC moves dividend paper warrant issuance deadline

    The Securities and Exchange Commission (SEC) has extended the deadline for the discontinuance of the issuance of dividend paper warrants to Dec. 31.

    Mrs Efe Ebelo, SEC’s Head of Media, made this known on Thursday in statement in Abuja.

    A dividend paper warrant is a financial instrument in form of a cheque that is issued by a quoted company to its shareholders through which dividend is paid to them.

    According to Ebelo, the extension of the warrant was disclosed in a circular by the commission in Abuja.

    She said the extension was to enable relevant stakeholders deliberate on and address all outstanding issues.

    “The decision of the Commission is in furtherance of its overriding mandate to ensure that all categories of shareholders and investors are adequately protected.

    “However, the e-dividend initiative remains critical to the complete elimination of the phenomenon of unclaimed dividend.

    “And the management of the Commission encourages all shareholders who are yet to do so, to get mandated on the e-DMMS platform before December 31,” she said.

    According to Ebelo, the SEC recently conducted a strategic assessment of the implementation of the e-dividend initiative across the country.

    She said the assessment reviewed feedbacks and observations from stakeholders and the public.

    She said the assessment revealed remarkable progress was recorded through robust enlightenment campaigns to mobilise more shareholders to get mandated on the e-DMMS platform.

    She however said there remained a few pertinent issues that needed to be resolved as a precursor to the total discontinuance of the issuance of dividend warrants by Registrars.

    The SEC had directed all registrars to stop the issuance of dividend paper warrants with effect from Jan. 1, 2018.

  • JAMB suspends 17 CBT centres over malpractices, says no going back on Thursday deadline

    The Joint Admissions and Matriculation Board has suspended 17 Computer-Based Test centres from registering candidates for the 2019 Unified Tertiary Matriculation Examination for involving in different forms of malpractices.

    The board also said it would not extend the registration of candidates which will end on Thursday, February 21, with over 1.6 million persons now registered for the exam.

    The Chairman of JAMB’s Governing Board, Dr Emmanuel Ndukwe, stated this in a bulletin from the Office of the Registrar, Prof. Is-haq Oloyede, released by the board on Monday.

    Ndukwe said the board had regulated the registration with guiding rules and regulations to prevent Nigerians from being extorted by fraudulent CBT centres.

    The chairman said, “The 2019 registration commenced on Thursday, January 10, and is expected to end on Thursday, February 21. There would be no extension of the exercise as the deadline remains sacrosanct.

    “To ensure that Nigerians are not exploited or have their data mutilated, the board has regulated the registration exercise so that we may obtain the actual statistics that will reflect the realities on the ground.

    “Any centre we find not complying with the ethics of registration will be sanctioned and we believe that this is the way to go in ensuring that the right things are done. All requirements have been defined and agreed upon by the board and centre owners.”

    According to the JAMB’s release, the suspended CBT centres are Matar Miseri Cordiae Centre and Mardakem Company Limited, both in Akwa-Ibom State; Bintels Global Services, Anambra State; Global ICT Connect Limited, Benue State; Swiftcom Global, Cross River State; Sapele Technical College, Delta State; Evangel University, Ebonyi State; Bishop Gabriel CBT Centre and DA Civic Centre, both in Edo State.

    Others are; University of Benin ICT Centre and Netskills Digital Solutions, both in Edo State; College of Education, Ikere-Ekiti and St. Silas Anglican School, both in Ekiti State; Medes ICT Centre in Ondo State; Divine Success CBT Centre in Oyo State; Riyom ICT Centre in Plateau State, and Taraba State University CBT Centre in Taraba State.

  • 2019: INEC issues final deadline to collect PVCs

    2019: INEC issues final deadline to collect PVCs

    The Independent National Electoral Commission (INEC) said it would devolve Permanent Voter Cards (PVCs) collection to Registration Areas and Wards across the country, from Jan. 16.

    The commission said in a statement by Mr Festus Okoye, National Commissioner and Chairman, Information and Voter Education Committee, on Friday, in Abuja, that deadline for collection of PVCs was Feb. 8.

    The statement said that decision on the issues was taken at the commission’s weekly meeting held on Thursday in Abuja.

    It recalled that INEC carried out Continuous Voter Registration (CVR) between April 27, 2017 and Aug. 31, 2018 during which a total of 14, 281,734 new voters were registered.

    It stated that subsequently, the commission printed the PVCs of the new registrants and delivered them to the states.

    It said “collection of PVCs by the public which is being done presently at the Commission’s Local Government offices is to be devolved to the 8,809 Registration Areas/Wards from Jan. 16 to Jan. 21 (including Saturday and Sunday).

    “After Jan. 21 collection of PVCs will revert to the Commission’s Local Government Offices and other designated centres to be determined by the states until Feb. 8, being the last day for collection.

    “There will be no extension for the collection of PVCs after Feb.8. All uncollected PVCs will be retrieved and kept in a secured place until the general elections are over.

    “There shall be no collection of PVCs by proxy.”

    The commission said that in the spirit of transparency, it would give account of the number of PVCs collected and the balance from previous registrations.

    It urged all registered voters yet to collect their PVCs to seize the opportunity to do so.

  • Minimum Wage: Labour issues Dec 31 deadline to submit committee report to NASS

    …kicks against Buhari’s fresh review

    Labour on Thursday said the federal government has before or on December 31 to send the tripartite committee report on N30,000 minimum wage to the National Assembly.

    The three labour centres, the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and the United Labour Congress (ULC) took the decision after a joint meeting in Lagos.

    They gave the ultimatum following President Muhammadu Buhari’s statement that a “high powered technical committee” would be set up to device ways to ensure that its implementation did not lead to an increase in the level of borrowing.

    Mr Buhari spoke at the presentation of 2019 Appropriation Bill to the National Assembly in Abuja on Wednesday.

    The NLC President, Ayuba Wabba, who address journalists after the meeting, said setting up a technical committee could not be a condition for passing the minimum wage report to the National Assembly.

    According to Mr Wabba, the organised labour cannot guarantee industrial peace and harmony in the country if the wage report was not passed for implementation on or before December 31.

    “We reject in its entirety the plan to set up another `high powered technical committee’ on the minimum wage. It is diversionary and a delay tactics.

    “The national minimum wage committee was both technical and all-encompassing in its compositions and plan to set up a technical committee is alien to the tripartite process.

    “It is also alien to the International Labour Organisations’ conventions on national minimum wage setting mechanism,’’ he said.

    The labour leader said issues on payment of minimum wage was a law that was universal, citing that other African countries like, Kenya, Ghana and South Africa had increased their minimum wage this year.

    “If you increase minimum wage, you are increasing the purchasing power of the economy which will help to reduce inflation rather than increase it,’’ Mr Wabba said.

    He urged workers to be vigilant and prepare to campaign and vote against candidates and politicians who are not willing to implement the new minimum wage.

    Joe Ajaero, President of ULC, also called on the government to send the report to lawmakers so that the implementation of the new minimum wage report would begin without delay.

    Mr Ajaero said all affiliate members of the organised labour had been informed to be alert ahead of the December 31 notice if the government failed to submit the report.

    The labour unions had planned to go on a nationwide strike on November 6, following the federal government’s delay to accept the N30,000 minimum wage agreement.

     

  • SEC Extends Deadline for Investors to Regularise Multiple Accounts

    SEC Extends Deadline for Investors to Regularise Multiple Accounts

    The deadline earlier set for investors and shareholders in the Nigerian capital market to regularise their multiple accounts has now been extended by one year.

    Acting Director General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, while briefing newsmen last Thursday on outcome of the last Capital Market Committee (CMC) meeting for this year in Lagos, said the forbearance window was no longer December 31, 2018, but December 31, 2019.

    “I am delighted to report that on the lingering issue of multiple subscriptions and forbearance for shareholders with multiple accounts, the CMC agreed that the forbearance window should be extended by another year from the December 31, 2018 deadline previously communicated.

    “We expect investors to take advantage of this opportunity to claim their unclaimed dividends and bonuses,” Ms Uduk informed capital market journalists.

    On the distribution of annual accounts to shareholders of publicly quoted firms electronically, the SEC boss said shareholders have largely accepted the new initiative and were willingly providing their email addresses.

    According to her, the committee agreed that further sensitisation would be carried out by stakeholders to enlighten shareholders on the benefits of the initiative.

    Speaking on the issues of identity theft in the capital market, Ms Uduk said SEC will work with other major stakeholders in setting up a committee that will look into and proffer solutions to problems around identity management in the Nigerian capital market.

     

  • New Minimum Wage: Labour leaders issue fresh deadline

    New Minimum Wage: Labour leaders issue fresh deadline

    Labour leaders on Tuesday gave December as deadline for the full implementation of the N30,000 new national minimum wage.

    They also warned that any reduction in the N30,000 agreed by the Tripartite Committee on the National Minimum Wage as contained in a report to President Muhammadu Buhari or any further delay in its passage could have negative consequences.

    According to Daily Trust newspapers, the President of Trade Union Congress (TUC), Bobboi Bala Kaigama, and the Secretary General of the Association of Senior Civil Servant of Nigeria (ASCSN), Bashir Lawal, gave the warning at the National Executive Council (NEC) meeting of the ASCSN in Abuja.

    The unions said Nigerian workers patiently await President Muhammadu Buhari to forward an executive bill on the minimum wage to the National Assembly for passage into law

    Meanwhile, Mr Kaigama, who is also the National President of ASCSN, said the expectation of labour is that the full implementation of the N30,000 new minimum wage should not exceed December.

    “It is on this premise that I strongly want to appeal to the federal government to fast track the process of enacting the new National Minimum Wage into law,” he said, adding that government should be able to complete the entire process before the end of this.

    The TUC president also regretted that the core civil service, which is the engine room of government is the least paid in the Public Service, with other segments having their emoluments beefed up over the years.

    The Secretary General ASCSN, Bashir Lawal, said they were holding President Buhari to his words that he would send the report submitted to him to the National Assembly.

    The unions are demanding N30,000 as minimum wage insisting the amount had been agreed at a triparite meeting involving them, the government and private employers of labour.

    Although President Buhari received the report of the committee, the presidency has since said Mr Buhari did not promise the N30,000 minimum wage and would have to consult on it.

    Government and labour had been at loggerheads over the demand for a new minimum wage. Labour says the minimum wage of N18,000 is paltry and no longer acceptable.