The Nation Newspaper

Tag: Benefits

  • Workers sue firm over non-payment of benefits

    Over 200 former workers of Global Scansystems Limited have sued the company at the National Industrial Court of Nigeria (NIC) for its alleged failure to pay their severance benefits.

    The firm is an indigenous company that deals in industrial technology wares and destination inspection at the ports.

    In their statement of claim filed through their counsel, Emeka Ozoani, the workers are asking the court to order the defendant to pay them accumulated wages and salaries, allowances, leave grants and severance package from January 2006 till last September as special damages which, though varied, amounted to several millions.

    They prayed the court to order the defendant to pay them ceasation package as stipulated in their letter of employment.

    For instance, a former top management staff member of the company prayed the court to order the company to pay him over N40 million as special damages or alternatively pay him over N28 million as ceasation of contract employment as at time of disengagement.

    They claimed to have been employed in 2006 after the company was awarded a Destination Inspection Contract by the Federal Government to conduct inspection of all imported goods at the Port on behalf of the government.

    They averred that after the expiration of the company’ s contract with the government in 2013, the employment of the staff was renewed for additional six months, which was later extended till 2015 following the renewal of the company’s contract with government.

    They accused the company of owing them 28 months salaries before their employment was terminated on last September 28, at the expiration of the company’s contract.

    On last September 16, they claimed that they wrote  a letter to one of the directors of the company, in which they complained bitterly about their unpaid leave allowances , salaries, entitlements and unpaid end of the contract benefits’ till date.

    Hearing has been fixed for October 10, before Justice Peter Odo Lifu.

  • Benefits of subsidy removal

    SIR: By now we should all be very conversant with the figures being bandied around from both the protagonists and antagonists of the subsidy removal. We have been inundated with economic arguments and saturated with socio-economic postulations and realities of the subsidy removal from both sides of the divide.

    Rather than add to the library of figures or roar of voices, I want to point out what I consider the biggest benefit of the subsidy removal.

    The biggest benefit is an enriched political education.

    In 2012 I supported the removal of fuel subsidy. In 2016 fuel subsidy was removed. So am I supposed to be happy? Yes – but no. No, I’m not sad. I’m not happy. But I’m amused in a fulfilled way.

    My befuddled amusement is borne out of the fact that those who have implemented and are defending the subsidy removal today are those who fought it to a standstill in 2012. See how they are struggling to defend it.

    In 2012 I knew the fight against subsidy removal was merely politics but the masses were hoodwinked to support the fight. This is what you get when a large portion of the led lacks political, economy and governmental education. They get easily swayed in tandem with the whims and caprices of the politicians. Most people who joined the politicians to kick against the subsidy removal in 2012 didn’t do enough study to find out that subsidy is the biggest scam on the people. Those who should know turned the truth upside down to mislead the gullible masses.

    Increasing the price of anything by the government will always be an unpopular decision anywhere, anytime but enlightened masses will always know when to support its government to take unpopular decisions that will benefit the same masses in the long run. Politics is always about popularity but governance is not a popularity contest. A nation that knows this is on its way to prosperity.

    So now that the APC-led Federal Government has put away politics to implement the subsidy removal policy, I say well done. The times are tough, but I believe wholeheartedly that it will turn out for the good in the long run.

    As for the masses, I will ask, are you learning? Learn the difference between politics and governance. Learn the difference between campaign promises and policy statements. Learn the difference between propaganda and information. Learn the difference between passion and logic. Learn the difference between party fanaticism and facts. 2019 will soon be here, they will come again, what you learn is what you will use to choose.

    To whom brain is given, commonsense is expected.

     

    • First Baba Isa (FBI),

    Abuja.

  • Health benefits of mango

    Health benefits of mango

    • Mango fruit is rich in pre-biotic dietary fiber, vitamins, minerals, and poly-phenolic flavonoid antioxidant compounds.
    • According to new research study, mango fruit has been found to protect against colon, breast, leukaemia and prostate cancers. Several trial studies suggest that polyphenolic anti-oxidant compounds in mango are known to offer protection against breast and colon cancers.
    • Mango fruit is an excellent source of Vitamin-A and flavonoids like beta-carotene, alpha-carotene, and beta-cryptoxanthin. 100 g of fresh fruit provides 765 IU or 25 perfect of recommended daily levels of vitamin-A. Together; these compounds have been known to have antioxidant properties and are essential for vision. Vitamin A is also required for maintaining healthy mucous and skin. Consumption of natural fruits rich in carotenes is known to protect from lung and oral cavity cancers.
    • Fresh mango is a good source of potassium. 100 g fruit provides 156 mg of potassium while just 2 mg of sodium. Potassium is an important component of cell and body fluids that helps controlling heart rate and blood pressure.
    • It is also a very good source of vitamin-B6 (pyridoxine), vitamin-C and vitamin-E. Consumption of foods rich in vitamin C helps the body develop resistance against infectious agents and scavenge harmful oxygen-free radicals. Vitamin B-6 or pyridoxine is required for GABA hormone production within the brain. It also controls homocystiene levels within the blood, which may otherwise be harmful to blood vessels resulting in coronary artery disease (CAD), and stroke.

     

    • Culled from: www.nutrition-and-you.com
  • Cherry’s many benefits

    Cherry’s many benefits

    The African star apple, popularly called Cherry, is in full bloom. You can see the fruits on sale onthe highways, at roadsides, markets and with hawkers, especially in Lagos, Ibadan, Benin and Ilorin. Cherry, botanically called Chrysophyllum albidum, belongs to the family of sapoteacea. It is a tropical fruit mainly distributed in the low land rain forest zones. It is found in villages. It is popularly called Udara in Igbo, Agbalumo in Yoruba, and Otien in Edo. The arrangement of the seeds is in form of asterisks and the name star apple was coined from this. The chemical compositions include tannins, flavonoids, terpenoids, proteins, carbohydrates and resins. These are excellent in treating diseases such as diabetes, heart diseases and drug resistant bacteria.

    Not only that, director of Pax Herbal Clinic and Research Laboratories, Ewu, Edo State, Father Anselm Adodo said cherry is among the healthiest fruits available and these fruits are good remedies for sore-throat, tooth-ache, constipation, and much more. “Cherry is a good source of calcium providing about 10 per cent of the amount needed by the body. Calcium lends strength to the bones and teeth and it may also lessen symptoms of premenstrual syndrome. Cherry is highly recommended for pregnant women because it reduces salivation and is one of the best natural sources of Vitamin A and C. Infact, the Vitamin C found in the pulp of cherry is said to be higher than the ascorbic content of Orange and guava,” he stated.

    Father Adodo said Cherry is a fruit that is difficult to ignore because, “While many find the taste not so pleasant, some find the sticky nature of the inner pulp of the fruit unattractive. It is difficult to predict the taste of the cherry fruit until you actually taste it. Unlike fruits like banana, Mango and cashew which taste one can predict- cherry could be sour, sweet or in-between sour and sweet”.

    The health benefits of cherry are what make it difficult to ignore. Compared with other fruits, cherry is among the healthiest fruits available. The fruit also provides calories which make the fruit a good snack. The fruit has antioxidant properties which give the body a better chance of fighting and avoiding heart disease and cancer. The fruit contains fiber which aids digestion and it is also ideal for weight watchers,” he stated.

    While most people seem to be interested only in the cherry fruit, all other parts of the plant are in fact very useful. Father Adodo said, “The leaves contain hypoglycemic (lowering blood sugar) properties and anti-platelet activities. The stem can be used as chewing stick as it contains anti-bacterial properties and is a natural remedy for tooth ache, constipation and indigestion. Remember to swallow your spit when using the stem as chewing stick. The roots and barks when boiled are excellent remedies for cough, yellow fever, high blood pressure and Diabetes. An infusion of the leaves can be used to wash wounds as an antiseptic, and as remedies for diarrhoea, and constipation.”

    That is not all, if you are obese or attempting a weight loss, you can also switch to Cherry and Father Adodo explained why, “In this age when many people are struggling with of obesity, cherry is a good fruit to have around. The fruit is excellent for maintaining a healthy metabolism, and therefore good for losing weight. It is unfortunate that after eating the pulp of the cherry fruit we always throw away the skin. The cherry skin is in fact one of the most medicinal part of the cherry plant. I recommend chopping the skin into pieces and then blend a handful in half litre of water. This is one of the best preparations for weight loss and for diabetes. Blending the skin gives you access to the full benefits of the fibre and you will be amazed at the burst of energy you will feel after drinking the solution.”

    As all is enjoying the benefits derivable from Cherry, there is a worry on its extinction and father Adodo puts it in perspective, “It is worthy of note that the African star apple is one of the endangered plants in Nigeria and Africa. While many of us eat cherry and value its health benefits, we don’t seem to care about the cultivation of this wonderful plant. People are busy harvesting cherry from the wild and there is hardly any interest in cultivation of the plant. The implication is that there will be less and less African star apple plant available and eventually we may wake up one day to find that our precious cherry is no more available to purchase.”

    And its large cultivation can also add to gross domestic income, as he explained, “In this era of unemployment, government needs to encourage Nigerian youths to appreciate the wealth generating potentials of agri-business. I call it agri-business because it is not just about subsistence farming but cultivating cash crops to generate wealth. The ministry of Agriculture in every state of the federation should initiate public enlightenment campaigns to encourage agri-business. The drop in oil revenue may well be an excellent opportunity for us to explore alternative sources of income and development,”

  • Benefits of window shopping

    Window shopping, whether traditional or virtual, has become popular. According to retail experts, the purpose of window shopping is not to spend money or acquire new items, but to learn more about oneself and one’s personal tastes. TONIA ‘DIYAN writes

    After the Christmas and New Year celebration, Kolawole Biyi regardless of her financial status went on a window shopping expedition. She is aware that the modern mall is designed to lure people into window shopping where they are sure to likely catch irresistible items that would ensnare them to shop on impulse.

    On the other hand, she knows also that the activity is generally considered to be safer as it allows people on limited budgets much less likely to make impulse buys if they remain outside the store.

    She went ahead browsing shops with no intent to purchase, possibly just to pass the time between other activities, or to plan a later purchase.

    Walking through the Palms mall, Lekki- Lagos, she continuously looked at the window displays for each retail store. Aside passing time, Biyi was able to get ideas for displays that she could use at home and the inspiration for future gift giving.

    “After all, this wouldn’t cost me a kobo” she said to herself! Not in a hurry to receive the full benefit of window shopping, she did it at a leisurely pace. As a typical window shopper she is less concerned with how many window displays are observed or how much time is spent enjoying each of the displays, she focused more on enjoying the wares displayed in the windows, as well as taking note of the way each shop owner choose to display all the items included in the presentation, not forgetting to compare prices to ascertain the most beneficial purchase.

    Because of the flexibility that is part of the pastime, it is possible to work in a little window shopping at just about any time. Biyi often enjoys this type of shopping during a lunch hour, while waiting for relatives or friends to arrive at the site, or as a way to kill time before the start of a movie at the cinema.

    Apart from being an ideal way to kill time without spending money, to Biyi, window shopping can also serve as inspiration for other tasks. ”Spending time looking at window displays may trigger creative ideas that can be used at home”, she whispered to herself. “For example, a window display containing a dining room table and chairs may provide inspiration for table settings, centerpieces, or other ideas that can be used to dress up the dining room.” she said

    While traditional window shopping takes place at a brick and mortar location, the concept of virtual window shopping has become very popular. By viewing items on display at online stores, shoppers can enjoy the benefits of passing time, getting ideas that can be used for different purposes and also find inspiration for gifts and other purchases scheduled for a later date. One advantage of virtual window shopping is that interesting web pages can be bookmarked for a return visit at a later date.

    Some popular malls and busy places such as  Allen Avenue and Opebi Road in Ikeja have attracted a great number of window shoppers as they are characterised by a host of displays.

    Some people told The Nation Shopping why they go window shopping. Some said the act will make them remain up-to-date, others said it is their favourite pastime activity. While some others said it’s a form of exercise, others said the act is alluring.

    For Rita Nselu, who is a frequent visitor to The Palms mall in Lekki, she window shops to find out the new trends in fashion, so as to remain up-to-date as a university student. On the other hand, Funmi Aiyetoro, a student of the University of  Lagos window shops because it is her favourite pastime activity.

    Her words: “It is just alluring the way retailers display those items. Besides, it is very convenient for one to look around even when you do not have money. What I actually do is stroll to the mall with my friends, look around, compare prices and return when I am buoyant to purchase.

    Her friend, Elizabeth Kaine simply affirmed. “I think it’s fun, I just love the act at my leisure.”

    Femi Aruna thinks window shopping is an important aspect of shopping and does it weekly.

    His words: “These malls are designed in such a way that you just need to move around to be able to make good choices. If you do not move around to see the items on display, how would you know the right thing to buy? If you are a real shopper, you have to know how to window shop.

    However some retail experts have said those who understand the art of window shopping and truly enjoy it have some guidelines to bear in mind. Such people should be able to think about the purpose of their trip to the mall, store or market.

    Owner of Deligtsome Gifts Concept situated in Gbagada,  Lagos, Modupe Shopeju said: “Whether a person is scouting for a new fashion trends, he /she is trying to make a mental shopping list, plan on returning later to make purchases or simply looking for a good way to spend a few hours, window shopping is one good way to achieve that.”

    She added that the location is also important, “Window shopping is best enjoyed with friends and the ideal location for window shopping is a mall (indoor or outdoor) with a variety of different stores. When you are out, look for places with impressive window displays,” she said

    She concluded that it is wise to prepare the night before taking the window shopping trip “Prepare a day before. You won’t need much money, you are not buying anything, remember? Bring whatever else you would normally take on a shopping trip, but leave the credit cards at home in case you get too tempted. Don’t forget to dress comfortably and casually making sure you wear comfy shoes, as you will be doing a lot of walking,” she said.

    Shopeju taking people through the process said: “Arrive at your location early, start at one end and gradually work your way over to the other. Walk slowly; take in the sights, there is no need to rush. Stop and carefully observe the first window display that you see. Take notes or mark down the store name, if necessary, but do not go into the store. Continue on, viewing other displays at your discretion. Try to identify trends and patterns in the displays. Do not be afraid to stop; you could sit for a while if you get tired. Take notes as needed, particular styles you like, popular items, preferred items to be purchased when you returned. Window shopping does not need to be a task.  It is worth relaxing and enjoying.”

  • Health benefits of sleep, by experts

    Health benefits of sleep, by experts

    Nigerians have been asked to go for the right mattresses so as to get a sound sleep for the  repair of their bodies.

    Speaking at the unveiling of  Vono Products Plc’s new hospital furniture, GEO Medical Centre Chief Executive Officer (CEO) Dr Adetomiwa George said: “What many people forget is that good sleep is linked to a good mattress. The quality of your mattress can have a huge impact on your sleep, and poorer quality mattresses, also expose you to toxic glues, chemicals, fire retardants, dust mites and allergens that can inhibit sleep and have adverse effects on health.

    “So getting enough sleep can mean the difference between a sick, tired, foggy, unfocused, life and one where you feel vibrantly healthy and fully tuned into the world around you. So people should pay more attention to getting the right mattress.”

    He added: “Sleep is when your body repairs and heals. Extreme sleep deprivation leads to psychosis. And you spend 30 percent of your life sleeping hence you must get the mattress right. New studies indicate that improving the quantity and quality of mattresses   have a more significant effect on overall health than either diet or exercise”.

    He noted that people should understand their mattress needs, and also must put same in a bed-frame and not on the bare floor.

    According to him, when searching for the best mattress, it is important to remember that mattresses are largely a matter of personal preference. “There is no single type of mattress or bed that works well for all people, and there is no best mattress for back problems. Likewise, there is no single sleep position known to be best for all people. The right mattress can really help one have a good night’s sleep and wake up feeling rested and refreshed. Sleeping on the wrong mattress can cause sleeplessness, back pain, and overall aches and pains. For people with a back problem, a mattress that isn’t a good fit can make the pain worse,” he explained.

    When choosing mattresses and frames, dr Adetomiwa said the selections of mattresses and frames are by size, design, style, material, and features. Sizes range from the smallest, twin, to king beds at the large end.

    “Each size should be designed with a specific use in mind- from children, to single adults, all the way to tall couples. Design is what shapes the bed frame itself. Style defines the overall look and theme of the bed. Frame materials for beds hold a small variety- metal, wood, or rattan. Vono can craft each into nearly any style or design of bed for consumers’ needs,” he stated.

    The Managing Director, Vono Products Plc., Mr Tunji Anjorin  said his company can supply adequately to the demand of Nigerians, either in public or local sector, and that all materials are sourced locally. He lamented the negative impacts of fake products on the company’s business and appealed to the Federal Government to intensify efforts in combating influx of these products into Nigeria.

    Anjorin said the influx of fake products makes the company’s experience low government patronage. Also the high exchange rate of the Naira to other convertible currencies have moderated capacity utilisation in the real sector.

    “For instance, Vono Products Plc has introduced new hospital examination bed, classic bed, cabinet and drip stand to enhance service delivery in the hospital. We can do with more patronage. Generations upon generations can attest to the quality of our products.’

    Anjorin stated that the hospital bed was a product of extensive research to address some of the critical issues affecting examination of patients in the hospital. Despite the inclement operating climate in Nigeria, Vono Products was set to deliver superior products at all times.

    According to him, the examination bed had been designed for comfort; the drip is adjustable while the bedside cabinet is not only waterproof but good for storage.

    Anjorin explained that the company had produced the furniture in commercial quantity and many hospitals in both the private and public sectors had embarked on placing orders on the new products.

    He re-stated the company’s resolved leverage on its strong brand to expand its products and services and boost shareholder value. “Despite the harsh operating environment, management is working round the clock to ensure timely delivery of quality products at all times. Our hospital furniture, particularly, our Examination Bed is a product of research and understanding of the needs of the end users particularly the functionality and durability as our basis for design.

    These components remain part of what Vono holds dear and what keeps our customers endearing to us. We are determined to satisfy our customers by constantly anticipating their needs and satisfying them even before they realize that such needs exist.” Anjorin stated.

    He assured the company’s shareholders of increased value as the company according to him would continue to place premium on quality and affordable products despite the high production cost. He stated that the company had capacity to meet demand at any point in time and end users of the products enjoy after sales service.

    Making a special presentation on the new products, Vono Products’s Project Manager,   Mr Raheal Oshinubi explained that the three furnitures were tailor-made to enhance service delivery in our hospitals. He noted that the products’ quality conformed to international best practices.

    On the prevalence of fake products in Nigeria, the Group Head, Sales and Marketing, Vitafoam Nigeria Plc, Mr Sola Owoade, noted that companies were co-operating with the statutory organisations, such as the Standards Organisation of Nigeria (SON) on surveillance to arrest the perpetrators.

    On the cost of foams in Nigeria, Owoade advocated the use of consumer buying rights to expose consumers to their peculiar needs as  done by Vitafoam.

  • ‘Benefits of ITF-UNIDO skills survey’

    ‘Benefits of ITF-UNIDO skills survey’

    The ongoing Skills Gaps Survey by the Industrial Training Fund (ITF) and the United Nations Industrial Development Organisation (UNIDO) will place Nigeria at par with other developed nations, experts have said.

    Experts said the survey would improve ITF’s plan to provide training for employment and job creation, as well as identify the challenges of mismatches between skills demands and supply, which the country is grappling with.

    Expressing optimism that the skills gap survey by ITF would also lead to the production of entrepreneurs and job creators in the country, Industrial Relations Practitioner and Managing Director of Soreb Consulting International, Mr. Kunle Rotimi, said the exercise will help Nigeria produce evidence based industrial skills development policies that can contribute towards alleviation of skills gaps in the industrial sector, thereby increasing productivity.

    Rotimi, the author of “Conceptual Framework in Human Resource Development”, noted that the skills gap survey is driven by the requirements of the Nigeria Industrial Revolution Plan (NIRP), which aims at providing baseline data that will guide government’s investment for skills development in Nigeria through identifying skills requirement, skills availability, skills gap, skills mismatch and skills supply.

    According to him, the skills gap survey will further assist the nation in identifying the types of jobs that are available and the ease of filling such vacancies. It will also identify skills misallocation and skill gap within sectors and organisations.

    Registrar/Chief Executive, Chartered Institute of Personnel Management of Nigeria (CIPM), Mr. Sunday Adeyemi, expressed optimism that the skills gap survey by ITF and UNIDO would address remedial actions to be taken by companies to overcome difficulties in finding candidates for vacancies that are difficult to fill.

    Adeyemi also said the survey would support enterprises’ investment plans in the next decade or more years, adding that it was encouraging that ITF and UNIDO engaged the services of indigenous experts that developed the survey instrument in collaboration with the research and development faculty of the ITF.

  • A market of many benefits

    A market of many benefits

    On June 13, the capital market adopted a new rule, allowing sub-brokers to deal as investment agents, thereby creating opportunity for Nigerians to participate and earn income from the market, reports Taofik Salako.

    On June 2, the Securities and Exchange Commission (SEC), liter-ally with a stroke of pen opened window of opportunities for capital market operators and other enterprising Nigerians to make money from the market.

    The rule on investment agents, otherwise known as sub-brokers, allows individually registered stockbrokers and professional members of the Chartered Institute of Stockbrokers (CIS) and non-stockbrokers first degree holders to set up their private firms and deal as investment agents in the market.

    To registered stockbrokers, it opens a window of freedom and a shortcut to bypass the current restrictive regulatory framework that limits a stockbroker’s professional practice within a registered stockbroking firm as against other professions such as Medicine, Law and Accounting, among others that enable professionals to practice as individuals. To other first-degree holders, the multitude of self-employed, underemployed and unemployed people, the new rule is an opportunity to engage in the limitless opportunities in the capital market.

    The Nigerian Stock Exchange (NSE) on Monday, July 13, started the implementation of the sub-broker framework. Between SEC, the apex capital market regulator that signed on the sub-broker framework, and the NSE, the originator and implementer of the sub-broker framework, Nigerian capital market authorities appeared to have opened enormous wealth and self-dependence for millions of aspiring Nigerians. The sub-broker framework was first codified into guidelines in the second half of 2014.

    The draft guidelines were approved by the Rules and Adjudication Committee (RAC) of the National Council of the NSE for exposure to stakeholders for comments in October 2014. Between October and November 2014, the guidelines were exposed for stakeholders’ comments. The draft guidelines and stakeholders’ comments received thereon were considered by the RAC at its emergency meeting on December 10, 2014 and the RAC consequently approved the revised draft guidelines for submission to the National Council of the Exchange, which approved the draft guidelines at its December 11, 2014 meeting.

    The guidelines were submitted to SEC for approval on December 18, 2014, which nearly six months after, approved the sub-broker framework on June 2, this year. The appreciable regulator-operator collaboration between SEC and NSE gave birth to this initiative. SEC had in 2013 laid the foundation for sub-brokerage firms and sub-brokers by including the two as part of legal operators in the marketplace. The NSE’s sub-broker framework built on this.

    How to start a sub-brokerage firm and be a sub-broker 

     

    The guidelines on sub-brokerage define a sub-broker as “any person or entity not being a dealing member, that is registered by the Securities and Exchange Commission as a sub-broker; and acts on behalf of a dealing member as its agent for assisting investors in buying, selling or dealing in securities through such dealing member.”

    The sub-broker helps the broker to market securities, collect investor’s mandate and documents and foster the agent-principal relationship between the broker and investor by facilitating securities trading and rendering of returns to the investor. Beyond the knowledge of capital market, the capital requirement for the sub-brokerage practice has been deliberately made affordable to ensure that it serves the purpose of democratising investors’ access to the market. The minimum capital base requirements for sub-brokers are specified in Section 67 of the SEC’s Rules and Regulations 2013, which prescribes the minimum capital for corporate and individual sub-brokers at N1 million and N500,000 respectively.

    In addition to registration by SEC, the NSE’s framework outlined specific eligibility criteria for sub-broker. It is only a sub-broker that is registered by SEC and meets the eligibility criteria of the NSE, that can be engaged by any dealing member or stockbroker.

    Besides general provisions on knowledge about the theories, rules and operations of the capital market, the main requirement an individual that is sponsored as a sub-broker is that such a sponsored individual shall be an Associate Member of the Chartered Institute of Stockbrokers (CIS) or a first degree holder in relevant fields as may from time to time be determined by the Exchange in line with the Rules and Regulations of the SEC, with a minimum of five years’ post working experience, excluding National Youth Service. The other requirements lie within the purview of the stockbroker-sub-broker relationship and agreement.

    Dealing members are required to ensure that their clients are not acting in the capacity of sub-broker unless such clients are registered with SEC as sub-brokers. Dealing members are also required to execute agreements with each of their sub-brokers specifying the rights and responsibilities of the dealing members and sub-brokers as provided in the Rules and Regulations of the Commission.

    Any stockbroker, who wishes to transact business with a sub-broker shall submit an application for approval pursuant to Article 8 of the Rules and Regulations Governing Dealing Members to the Exchange in writing with supporting documents such as a certified true copy of the Registration Letter of the sub-broker issued by the SEC, a copy of the documents evidencing the qualifications of the sponsored individual(s) of the sub-broker, a completed standard form guarantee document completed by the dealing member, a copy of the agreement between the sub-broker and dealing member and any other document(s) that may be required by the Exchange.

    Besides, the onus lies on the stockbroker, who is the principal in the stockbroker-sub-broker relationship, to ensure that the sub-broker complies at all times with the rules and regulations governing dealing members and all capital market rules and regulations, including the know your customer (KYC) requirements. The dealing member shall be responsible for the internal review of activities of the  sub-broker and shall ensure that supervisory controls are put in place to monitor the activities of the sub-broker. The dealing member is expected to submit a quarterly report of its review of the activities of the sub-broker in a form to be prescribed by the Exchange with the dealing member’s quarterly report.

     

    Vast opportunities

     

    The sub-broker serves as the outpost for the stockbroker and since there is no limit to the number of sub-brokers that a stockbroking firm can engage, the sub-brokerage framework creates a win-win situation for all the stakeholders including the regulators, which benefit from more coordinated and disciplined transaction process with higher levels of accountability. The stockbroking firms can reach the critical mass of urban and remote potential investors through a relatively cheaper mechanism than branch networks. With the new rule, existing and potential investors can have better interface and doorstep services at no extra costs while the self-employed, unemployed, underemployed enterprising Nigerians can draw on their entrepreneurial skills and knowledge to earn legal living without harassment of quackery. Nigerians will directly benefit from the immense job-creation potential of the framework and additionally leverage on the potential mass capital formation that comes from expanding domestic investors’ base to generate the much-needed domestic capital to bridge infrastructure gap and fuel the much-needed industrial growth, creating a cycle of wealth and better living standards; the sole objective of any government and the main elixir to socio-economic and political problems.

    Head, Broker Dealer Regulation, NSE, Mr. Olufemi Shobanjo, said the sub-broker framework was developed with a view to enhance financial inclusion by attracting new entrants to the capital market particularly those based in remote, rural or semi-urban areas where investors are more likely to be less sophisticated and may not have access to modern technology infrastructure.

    “It is also to discourage illegal capital market operators from taking undue advantage of investors and to create an enabling environment for micro-operators to participate in the capital market in a regulated manner,” Shobanjo, who is officially saddled with interpreting the rule, added.

    Latest report on the job situation in Nigeria by the Nigerian Bureau of Statistics (NBS) indicated that 97,020 employees left the formal sector in the first quarter of the year. According to the report, the highest numbers of exits in the formal sector were in trade, accommodation and food services, and the education sector, accounting for 11 per cent, 13 per cent and 37 per cent of the total.

    Nigerian capital market is regarded as an emerging market; a vast ocean of opportunities. With a growing population of some 170 million, Nigeria’s large population, and vast geographical space too, is both an advantage and disadvantage. Currently less than five per cent of the Nigerian population is participating in the capital market, underlining the potential challenge and opportunity of capital market penetration.

    Besides, while the market is still largely equities-based, the increasing emergence of new products and the development of the debt market hold out large future opportunities for securities dealers and marketers. The collective investment segment, otherwise known as mutual fund, is a good example of the opportunities that sub-brokers can explore. With some 52 funds in 10 various sectors and total assets of some N160 billion, the mutual funds segment is still largely undeveloped. No fewer than 300,000 Nigerians are participating in collective investment schemes. This contrasts sharply with the situations in other emerging and developed markets where mutual funds are the largest investors in the market. While the poor penetration and low participation represent major challenges for the government and capital market authorities, they also represent huge untapped opportunities for sub-brokers, who can tap into the relatively developed cooperative system and Nigeria’s natural communal perspective to foster micro mutual funds.

     

    Regulated marketplace

     

    Many have expressed reservations that the sub-brokerage framework may be counterproductive and exacerbate the issue of touting, contrary to the intention of the rule. President, Constance Shareholders Association of Nigeria, Shehu Mikhail, said the sub-brokerage system might make the market to porous unless proper checks and surveillance were put in place.

     

  • Benefits of cabbage

    Benefits of cabbage

    Cabbage, which is often lumped into the same category as lettuce because of their similar appearance, is actually a part of the cruciferous vegetable family. Cruciferous vegetables like cabbage, kale and broccoli are notorious for being chock-full of beneficial nutrients. If you are trying to improve your diet, cruciferous vegetables should be at the very top of your grocery list.

    Cabbage can vary in colour from green to red and purple, and the leaves can be smooth or crinkled. With less than 20 calories per half cup cooked, it is a vegetable worth making room on your plate for.

    Consuming fruits and vegetables of all kinds has long been associated with a reduced risk of many adverse health conditions. Many studies have suggested that increasing consumption of plant foods like cabbage decreases the risk of obesity, diabetes, heart disease and overall mortality while promoting a healthy complexion, increased energy, and overall lower weight.

    Protection from radiation therapy

    A compound found in cabbage and other cruciferous vegetables known as 3,3′-diindolylmethane (DIM) has been shown to protect against the harmful effects of radiation therapy. In a study conducted at Georgetown University, rats were given a lethal dose of radiation. Some were left untreated, and others were treated with a daily injection of DIM daily for two weeks. All the untreated rats died, but over 50% of those receiving the DIM remained alive at the 30-day mark. The same researchers did the experiment on mice and found similar results. They were able to determine that the DIM-treated mice have higher counts or red and white blood cells and blood platelets, which radiation therapy often diminishes.

    It is well-known that DIM has protective effects against cancer, but this study shows there is also hope for using it as a shield to protect healthy tissues during cancer treatment in the future.

    Cancer prevention

    Another cancer-fighting compound found in cabbage is sulforaphane. Research over the past 30 years has consistently shown that consuming cruciferous vegetables has been associated with a lower risk of cancer. More recently, researchers have been able to pinpoint that the sulfur-containing compounds (namely sulforaphane) that give cruciferous vegetables their bitter bite are also what give them their cancer-fighting power.

    More studies with sulforaphane are testing its ability to delay or impede cancer. Promising results have been seen with multiple types of cancers including melanoma, esophageal, prostate and pancreatic. Researchers have discovered that sulforaphane has the power to inhibit the harmful enzyme histone deacetylase (HDAC), known to be involved in the progression of cancer cells. The ability to stop HDAC enzymes could make sulforaphane-containing foods a potentially powerful part of cancer treatment.

    Another natural chemical found in cabbage, parsley, celery and other plants known as apigenin has been found to decrease tumor size in an aggressive form of breast cancer in a recent study conducted at the University of Missouri. Researchers claim that their findings show that apigenin has potential to be used as a non-toxic treatment for cancer in the future.

     

    • Source: www.medicalnewstoday.com
  • Health benefits of tiger nuts

    Health benefits of tiger nuts

    Tiger nuts also called aya (Hausa), ofio (Yoruba) or chufas (Spanish) are a highly nutritious plant food with a high energy content (starch, fats, sugars and proteins). These small, round tubers (either fresh or dried) are rich in minerals such as phosphorous, potassium and vitamins E and C.

    Tiger nuts are very healthy as they help to prevent heart attacks, thrombosis and activate blood circulation. Due to the high contents of soluble glucose, they prevent cancer and lately some investigators have discovered that they reduce the risk of suffering colon cancer. The very high fibre content combined with a delicious taste, make them ideal for healthy eating.

    High fiber content

    The tiger nut has a higher fiber content than the oat bran, the cabbage, the carrot, plums and the Chia seeds. The fiber helps the organism to prevent constipation and acts as an appetite suppressant, which helps us to control our body weight.

    Has the same benefits for the heart as the olive oil

    Cardiologists recommend eating non saturated fats or vegetable fats and the tiger nut has a lipid profile which is very similar to the olive oil, which is considered one of the healthiest oils.

    One of the best natural magnesium sources available

    With only 100 gr. of tiger nuts, your body gets 13% to 17% of the daily recommended dose of magnesium. This mineral stays active in the body and participates in more than 300 biochemical reactions of our organism.

    Helps to control blood pressure

    It’s high content of amino acid arginine helps the body make nitric oxide which keeps our blood vessels dilated and have a normal blood flow.

    Can help to prevent cancer and heart diseases

    The tiger nuts is a source of Vitamin E that protects us from the creation of harmful free radicals which are responsible for the death of the body cells. This fact, combined with a high content of oleic acid, has demonstrated that it reduces the risk of heart diseases.

    Gives your body more potassium than a banana

    Eating 25 tiger nuts gives the body 139 mg. of potassium, being this the same level as a potato or an avocado and exceeding the potassium levels of a banana. This mineral helps the cells and organs to work correctly. It also regulates the muscle contractions, which helps your digestion.

    Source of non-animal protein

    The proteins are fundamental for the human body. Different studies have demonstrated that the Chufas have a content of proteins which is 8% higher than wholemeal wheat. Also the Tigernuts have more amino acids than standards of the World Health Organisation for proteins.

    Helps to control diabetes

    The high non soluble fiber contents of the tiger nuts help the diabetics to regulate their sugar levels in the bood. Recent studies have demonstrated that the fiber doesn’t elevate the sugar levels in the blood as the carbohydrates.

    The tiger nuts milk is a perfect substitute of animal milk

    It’s very easy to make your own tiger nuts milk with cooking equipment that can be found in every kitchen. Together with a few chufas we can prepare a vegetable milk, that is healthy, without lactose and rich in calcium, vitamin C and E.

    Tiger nut oil is used in the cosmetic industry. As an anti-oxidant (because of its high content in vitamin E) it helps slow down the ageing of the body cells. It favours the elasticity of the skin and reduces skin wrinkles.

    It supplies the body with enough quantity of Vitamin E, very essential for fertility in both men and women.