The Nation Newspaper

Tag: deadline

  • INEC extends deadline for collection of PVCs

    INEC extends deadline for collection of PVCs

    The Independent National Electoral Commission (INEC) has extended the deadline for collection of the Permanent Voter Cards (PVCs) to Sunday.

    The earlier scheduled date was last Saturday, January 31, 2015.

    The extension, according to a statement by Chief Press Secretary to INEC Chairman, Mr. Kayode Idowu, was to give opportunity to registered voters, who are yet to collect their PVCs.

    The statement reads: “The INEC has extended the deadline for collection of Permanent Voter Cards (PVCs) to Sunday, February 8, 2015.

    “This supersedes the earlier deadline of Saturday, January 31, 2015, and is intended to give registered voters yet to collect their PVCs the opportunity to do so in readiness for the February 2015 general elections.

    “INEC hereby calls on duly registered persons not to delay in going to collect their cards before the expiration of the new deadline.

    “The commission reaffirms its determination to make the 2015 elections free, fair, credible and peaceful; and urges all stakeholders, including voters, to spare no effort in working towards the same objective.”

    The commission has insisted that only voters with the PVCs would be allowed to vote at the general elections.

  • Stock Exchange gives deadline to brokers on VAT refund

    Stock Exchange gives deadline to brokers on VAT refund

    The Nigerian Stock Exchange (NSE) has given stockbrokers up till Friday, January 30, 2015 to submit documented evidence of refund of Value Added Tax (VAT) that were deducted between October 1 and 24, 2014 to investors.

    It should be recalled that the Federal Government had commenced the implementation of the exemption of commissions on stock market transactions from Value Added Tax (VAT) as from October 1, 2014. However, the announcement was delayed until late October.

    The exemption, which was first announced as part of measures to resuscitate the market in December 2012, was part of a basket of incentives outlined by Minister of Finance, Dr. Ngozi Okonjo-Iweala. She had on December 3, 2012, announced the exemption of stock market transactions from VAT and stamp duty. However, the implementation had dragged over the years. The stamp duty waiver, which was also announced in 2012, is yet to be implemented.

    The exemptions from VAT included commissions earned on traded values of shares, and those that are payable to the Securities and Exchange Commission (SEC), Nigerian Stock Exchange (NSE) and the Central Securities Clearing System (CSCS). The exemption is effective for a period of five years according to the Federal Government gazette on the issue.

    A circular obtained yesterday by The Nation indicated that the Exchange would commence the verification of the full refund of the VAT that were deducted within the delayed period between the announcement of the removal of VAT on Stock Exchange transactions and the release of the gazette.

    Stockbrokers had continued the deduction of VAT on transactions before the release of the gazette.

    Meanwhile, FBN Capital, the investment banking arm of FBN Holdings Plc, has predicted that the Nigerian equity market may close flat this year with average year-on-year gain of 1.0 per cent.

    Analysts’ report from FBN Capital noted that while the downtrend at the stock market has created attractive buy opportunities, investors might wait on the sideline as the macroeconomic outlook remained overshadowed by the decline in crude oil price.

    “The fall of the index in Lagos has produced buying opportunities in both banks and non-financials although we do not see a clear recovery until investors feel that the oil price has reached its floor. FBN Capital sees a 1.0 per cent gain for the index over the full year,” FBN Capital stated.

    The report noted that the rationale for investment remains firm household spending and the prospect of a renewed reform momentum once the electoral cycle has ended.

  • SCHOLARSHIPS APPROACHING DEADLINE

    Provided by: European Research Council (ERC)

    Courses: Research Programme Subjects: Multiple

    •Eligible Students: International Applicants

    •Application Deadline 3 February 2015

    •Apply Now

    •Tags: 2015, Europe, GRANTS, International, research

     

    2015 Cross-Culture Internships Programme For Study In Germany

    Applications are invited for Cross-Culture Internships funding programme for 2015 academic year. Young professionals and voluntary engaging persons can apply for the Cross-Culture Internships 2015. Regional particularities are taken into account through the subdivision into … [Read More]

     

    Deans Masters Scholarships at Imperial College London in UK, 2015

    Provided by: Imperial College London, United Kingdom

    Courses: Master Degree Program Subjects: Multiple Courses

    •Eligible Students: UK/EU and International Students

    •Application Deadline 30 April 2015

    •Apply Now

    •Tags: 2015, EU, Imperial College London, International, Master’s, UK

     

    Royal Society-DFID Africa Capacity Building Initiative Research Grants, 2015

    Provided by: Department for International Development, United Kingdom

    Courses: Research Programme Subjects: Water & sanitation, Renewable energy and Soil-related research

    •Eligible Students: UK and Sub-Saharan Africa (Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo (Brazzaville), Congo DRC (Zaire), Cote d’Ivoire, Djibouti, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Reunion, Rwanda, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, Sudan, Swaziland, Tanzania, Togo, Uganda, Zambia and Zimbabwe

    •Application Deadline 19 March 2015

    •Apply Now

    •Tags: 2015, GRANTS, research, Sub-Saharan Africa, UK

     

    Wauton International Scholarship at University of Stirling in UK, 2015

    Provided by: University of Stirling, United Kingdom

    Courses: MSc Program Subjects: Investment Analysis

    •Eligible Students: International Students

    •Application Deadline 29th May 2015

    •Apply Now

    •Tags: 2015, International, MSc, Scholarship, UK, University of Stirling

     

    International Fellowship at ADA University in Azerbaijan, 2015-2016

    Provided by: ADA University, Azerbaijan

    Courses: Graduate and Undergraduate Degree Programme Subjects: Undergraduate program in public affairs, business and economics, computer science and IT, as well as graduate program in MA in International Affairs, Public Policy, MBA, and EMBA

    •Eligible Students: International Applicants

    •Application Deadline 1 April 2015

    •Apply Now

    •Tags: 2015, 2016, Azerbaijan, Fellowships, Graduate, International, Undergraduate

     

    Higher Education Scholarship Program for International Students in Taiwan, 2015

    Provided by: Taiwan International Cooperation and Development Fund (TaiwanICDF)

    Courses: Undergraduate, Graduate and PhD Degree Program Subjects: Multiple Subjects

    •Eligible Students: Asia Pacific, West Asia, Africa, Caribbean, Central America, South America and Europe

    •Application Deadline March 15, 2015

    •Apply Now

    •Tags: 2015, Graduate, Higher Education Scholarships, International, PhD, Scholarship, Taiwan, Undergraduate

     

    SSPSSR Quants PhD Scholarship at University of Kent in UK, 2015

    Provided by: University of Kent, United Kingdom

    Courses: PhD Program Subjects: Quantitative Sociology, Social Policy or Criminology

    •Eligible Students: UK and International students

    •Application Deadline 31 January, 2015

    •Apply Now

    •Tags: International,PhD, research, Scholarship, UK, University of Kent

     

    University of Westminster Tuition Fee Scholarships for International Postgraduate Students in UK, 2015-2016

    Provided by: University of Westminster, United Kingdom

    Courses: Masters Degree Program Subjects: Multiple Subjects

    •Eligible Students: International Students

    •Application Deadline 1 May 2015

    •Apply Now

    •Tags: 2015, 2016, Higher Education Scholarships, International, Postgraduate, scholarships, UK

     

  • QoS: Telcos get Jan. deadline on subscribers’ compensation

    QoS: Telcos get Jan. deadline on subscribers’ compensation

    With effect from January next year, it no longer would be business as usual with quality of service (QoS) as the regulator of the telecoms sector, the Nigerian Communications Commission (NCC) said it has set up a committee to look into how consumers would be compensated directly by telcos for loss of air time due to their inefficiencies.

    NCC said the telcos have been given up till January next year to come up with proposals on how consumers could be compensated directly.

    This is perhaps a reaction to the agitation of telecoms subscribers that have never concealed their disgust at the current practice where the telcos are fined and payment made to the coffers of the Federal Government. They described the practice as unjust since they are the ones that suffer the poor QoS from the telcos.

    The Director, Consumer Affairs Bureau, NCC, Mrs Maryam Bayi who spoke during the Fourth Quarterly Meeting of the Industry Consumer Advisory Forum (ICAF) organised by the regulator in Abuja, said the regulator is not happy over the way consumers were being haunted  with unsolicited text messages by the telcos, adding that steps have already been taken to address the menace..

    Mrs. Bayi said due to the measures adopted by the NCC in conjunction with the telcos, consumers’ complaints have dropped to about 40,000 per day across the country.

    The regulator blamed states and local government areas in the country for hindering the development of telecoms infrastructures, citing Lagos State as the only state among the 36 states and the Federal Capital Territory (FCT), Abuja,that has shown understanding on the need to put infrastructure development before aggressive pursuit of internally generated revenue (IGR). The Lagos State government had reduced by about 98 per cent, the cost of installing infrastructure by telcos in the state.

    Executive Commissioner, Stakeholder Management, Dr. Okechukwu Itanyi said the Lagos State government has considerably reduced the cost of obtaining right of way (RoW) and the cost of erecting base transmission stations (BTS), while the Abuja has consistently refused to grant approvals to the service providers to expand infrastructure to redefine QoS.

    According to him, aside challenges in the power sector, vandalism, multiple/regulation taxation, access to RoW and stealing of generators at cell sites are factors standing on the way of good QoS..

    Itanyi lamented that it takes an average of six months to get approvals for the establishment of base stations while approvals do not come at all in some states on the excuse that it distort the master plans of the cities.

    He however said the NCC is working with other critical stakeholders in the industry to address the issue, stressing that once they are taken care of, the industry would assume its rightful position as the driver of economic development.

    Participants agreed that telcos and the regulator should collaborate with the Nigerian Security and Civil Defence Corps (NSCDC) to ensure the protection of telecoms infrastructures across the country.

    They also urged the NCC to expand the membership of ICAF to include civil society and advocacy groups while service providers must effect the opt-out and opt-in option in the issue of unslocited text messages.

    Participants also said the National Orientation Agency (NOA) should collaborate with the NCC and the NSCDC in training the youths in the communities on how to install and protect communication infrastructures in their communities.

  • PDP gives Adamawa council officials deadline to re-register

    PDP gives Adamawa council officials deadline to re-register

    The Peoples Democratic Party (PDP) in Adamawa State has given the 21 local government chairmen, vice-chairmen and councillors till September 26 to re-register as members of the party or lose their seats.

    The deadline came after the council officials voted in the party’s September 6 governorship primary election, in which Acting Governor Ahmadu Fintiri was given the party’s mandate.

    It was gathered that the move was designed to secure the loyalty of the officials to Fintiri and ensure the PDP’s victory in the October 11 governorship poll.

    There is fear that the council chairmen, who are believed to be loyal to former Governor Murtala Nyako, may work for the All Progressives Congress (APC).

    It was also learnt that the step was taken to frustrate a legal action against Fintiri’s emergence because the council officials were card-carrying APC members.

    Some party members faulted the participation of council officials because they were not given “re-admission” waiver by the PDP before voting at the primary.

    But the Mr Dimeji Bankole-led Electoral Committee was said to have turned a blind eye to it because of “pressure from above”.

    The directive was issued by the state PDP Chairman, Chief Joel Madaki, at the party’s stakeholders’ meeting at the Government House in Yola.

    At the meeting were former Minister of Petroleum Resources Prof. Jibril Aminu; former PDP National Chairman Alhaji Bamanga Tukur; Sir Wilberforce Juta; Air Commodore Dan Suleiman; Minister of Youth Development Boni Haruna and Minister of Women Affairs and Social Development Hajia Zainab Maina, among others.

    A source said: “The council chairmen and councillors are expected to re-register as PDP members from September 22. They have till September 26 to complete the process. If they fail to re-register, the councils stand to be dissolved by the acting governor. This became necessary because they are still believed to be APC leaders. PDP and the acting governor are jittery that the council chairmen and councillors can sabotage Fintiri.”

    Another source said: “The deceit surrounding the September 6 primary election has started emerging because the panel from Abuja and a gang of PDP leaders allowed non-party members to vote as delegates to elect Fintiri.

    “The electorate is beginning to realise the danger of voting for PDP in the coming governorship poll because they fear that they can be shortchanged. If Fintiri secured the support of these people, why a deadline to council chairmen, vice chairmen and councillors to re-register as PDP members?”

  • Banks, switches get deadline for data security standards

    Banks, switches get deadline for data security standards

    The Central Bank of Nigeria (CBN) has extended banks, switches and processors’ compliance with the Payment Card Industry Data Security Standard (PCI DSS) standard till November 30.

    The PCI DSS is a proprietary information security standard for organisations that handle cardholder information for the major debit, credit, prepaid, e-purse, Automated Teller Machines, and Point of Sale (PoS) cards.  The standard was created to increase controls around cardholder data to reduce credit card fraud via its exposure.

    A circular to banks, switches and processors, signed by CBN Director, Banking Payment System, ‘Dipo Fatokun, said the need to extend the deadline followed requests by many banks seeking more time to enable them to complete the certification process.

    He said to determine the readiness of various operators, the CBN engaged the services of three Qualified Security Assessors to conduct pre-certification assessment of the banks.

    The result, he said, showed that while many banks had complied with the certification, many are still at different stages of compliance.

    He said with this extension, banks, processors and switches are expected to comply before the end of the deadline.

    The validation of PCI DSS compliance is performed yearly, either by an external Qualified Security Assessor (QSA) that creates a Report on Compliance (ROC) for organisations handling large volumes of transactions, or by Self-Assessment Questionnaire (SAQ) for companies handling smaller volumes.

    The CBN had earlier released card issuance and use guidelines for the financial services sector. Fatokun said power to issue the guideline was derived from Section 47 (3) of the CBN Act 2007. He said industry stakeholders who process, transmit, and or store cardholder information should ensure that that their terminals, applications and processing infrastructure comply with the minimum requirements for the sector.

    The CBN director said that all terminals, applications and processing infrastructure, should also comply with the standards specified by the various card schemes.

    Fatokun said only banks licenced by the CBN with clearing capacity shall issue payment cards to consumers and corporations in the country. He said banks without clearing capacity can issue in conjunction with those with clearing capacity.

    Also, all banks should seek approval from the CBN for each card brand they wish to issue.

  • SCHOLARSHIPS APPROACHING DEADLINE

    ICO Fellowships Programme

    The International Council of Ophthalmology (ICO) Fellowships Program was organised to help promising young ophthalmologists from developing countries improve their practical skills and broaden their perspectives of ophthalmology.  Fellows are expected to bring the acquired knowledge and skills back to their home countries and take part in programs to preserve vision and prevent blindness.

    The ICO gratefully recognises grants, gifts, and pledges to the ICO Fellowships Program. Support ICO Fellowships by contributing to the ICO, ICO Foundation, or the International Ophthalmological Fellowship Foundation (IOFF).  The IOFF was formed in Germany to support the fellowships. View ICO Fellowship donors.

    These fellowships provide young ophthalmologists from developing countries with exposure to and training in several subspecialties in ophthalmology.  The program is intended to be flexible to meet the needs of different countries and individuals.  Approximately 60 Fellowships are awarded each year.

    The ICO Three-Month Fellowship is awarded twice a year, with application deadlines of March 31 and September 30.

    One-Year Fellowships

    The ICO and its supporters offer three types of one-year fellowships.

    ICO-Retina Research Foundation Helmerich Fellowships

    This fellowship provides support for one year of ophthalmology subspecialty training.  Fellowships are awarded to young ophthalmologists from developing countries who are committed to enhancing ophthalmic education and patient care in their home countries.  The fellowship honors Mr. W. H. Helmerich III and is sponsored by the Retina Research Foundation in cooperation with the ICOFoundation.

    Two ICO – Retina Research Foundation Helmerich Fellowships are awarded each year. The application deadline is September 30.

    Each year since 2010, this fellowship has been awarded to two exceptionally well qualified young ophthalmologists from developing countries.  View past recipients (PDF-187 KB.)

    View more information on the ICO – Retina Research Foundation Helmerich Fellowships.

    ICO-Fred Hollows Foundation One-Year Subspecialty Fellowships

    This fellowship provides young ophthalmologists from developing countries with subspecialty training at a designated ICO Fellowship Training Center or other fellowship training program.

    Two ICO – Fred Hollows Foundation One-Year Subspecialty Fellowships are awarded each year. The application deadline is September 30.

    View more information about the ICO – Fred Hollows Foundation One -Year Subspecialty Fellowships.

    ICO-SAARC One-Year Subspecialty Fellowships

    This is a fellowship exclusively for ophthalmologists from the South Asian Association of Regional Cooperation (SAARC) region (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, or Sri Lanka), providing a combination of training with local, regional, and international hosts to improve education and access to eye care in the region.  It is co-sponsored by the ICO and the Southasian Academy of Ophthalmology, and is supported by The Fred Hollows Foundation.

    Ten to twelve ICO – SAARC Fellowships are awarded each year. The application deadline is September 30.

  • Companies rush to beat delisting deadline

    Companies rush to beat delisting deadline

    Directors and key management officials of various quoted companies that were issued three-month notice of compulsory delisting from the Nigerian Stock Exchange (NSE) have been making frantic efforts to clear the backlog of corporate governance issues and secure waivers from the Exchange as the deadline closes in.

    The NSE had in late June given a three-month notice of compulsory delisting to 18 firms for various corporate governance and post-listing failures, especially non-release of financial reports and accounts for several years. The three-month notice expires next month.

    A reliable source at the NSE said the Exchange would follow through the process of compulsory delisting for those companies that fail to meet acceptable standards by the expiration of the notice.

    Many market and corporate source told The Nation that  various companies have reached out to the NSE to redress their corporate governance failures and seek for extended timeline to comply with some restructurings that require major changes.

    Investigation by The Nation  confirmed that the 18 companies were still listed on compulsory delisting, implying that none of the companies has been cleared by the NSE.

    The affected companies included Investment and Allied Insurance Plc, Goldlink Insurance, Afroil, Rokana Industry, IPWA, West African Glass Industry, Nigeria Wire and Cable, Starcomms, Daar Communication, Mtech, Big Treat, G.Cappa, FTN Cocoa Processing and UTC Nigeria.

    Others included Stockvis, Nigeria Sewing Machine, Jos International Breweries, Capital Oil and Golden Guinea.

    The NSE had indicated that while the five of the companies, including Stockvis, Nigeria Sewing Machine, Jos International Breweries, Capital Oil and Golden Guinea were penciled for delisting because they failed to regularise their listing status, other companies were being delisted because they have failed to submit requisite financial and operational statements.

    “The regulatory action is necessary to protect investing public from trading in the securities of entities with no current information regarding their financial status,” the NSE had stated.

    Reliable sources said the boards and key management staff of many of the affected companies as well as some influential shareholders have engaged the management of the Exchange on some of the underlining issues raised by the notice.

    According to sources, a few of the companies have made appreciable progress in resolving the concerns.

    One of the companies-FTN Cocoa Processing Plc has already released its two outstanding audited reports and accounts for the 2012 and 2013 business years.

    All the companies slated for delisting had been dormant and mostly at their nominal values. Companies such as Big Treat, Starcomms, Capital Oil and Afroil have been subjects of regulatory investigations.

    The Nation had earlier reported that the companies have been under intense pressure from shareholders, creditors and other stakeholders since the issuance of notice of delisting.

    Many shareholders were against the delisting of the companies, noting that delisting would worsen shareholders’ fate. However, shareholders who spoke to The Nation recently had called on the capital market regulators to probe the utilisation of the funds earlier raised by those companies and the previous projections made by the companies.

    Chairman, Ibadan Zone Shareholders Association (IBZA), Chief Sola Abodunrin, said the delisting of the companies could discourage investors from future participation in new issues as most of them only came to the market to raise funds without returns to shareholders.

    According to him, the companies did not follow through with their purposes of the fund raising and mismanaged investors’ funds.

    Abodunrin, a member of the board of trustees of the Investors Protection Fund (IPF) of the NSE, said delisting would be worse for the investors in the companies as they won’t be able to retrieve their investments.

    He said the companies would not adhere to any iota of corporate governance after delisting and shareholders would not have any hope of holding the companies to account.

    National coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, also said the NSE and Securities and Exchange Commission (SEC) should go beyond the delisting to determine the extent of management’s culpability in the companies’ misfortunes.

    Another shareholders’ leader, Alhaji Gbadebo Olatokunbo, called for a thorough investigation of the management of the companies.

    According to him, the regulators should extricate failures that were due to environmental constraints from those due to managerial failures.

    Also, NSE’s Head, Legal and Regulation Division, Tinuade Awe, confirmed to The Nation that the Exchange has got overtures from some of the companies.

     

  • Recapitalisation: Bureau De Change operators rush to beat deadline

    Recapitalisation: Bureau De Change operators rush to beat deadline

    A member of the Association of Bureau De Change Operators of Nigeria, said on Friday, that majority of the operators had complied with the N70 million capital base requirement for operators.

    The member, Mr Harrison Owoh, told reporters in Lagos that most of the operators were in Abuja to complete the formalities as directed by the CBN.

    Owoh said that though the exercise had distabilised many, most of the operators would not want their licences to be revoked after the July 31 deadline.

    He said that CBN might publish the list of the defaulting operators next week.

    “I do not know whether there were mergers or outright acquisition, but majority of our members are in Abuja to complete the CBN documentation,” he said.

    It will be recalled that the CBN, on June 23, raised the minimum capital requirement for Bureau De Change operators to N35 million from N10million.

    It also raised mandatory caution fee from 10,000 dollars to N35million, bringing the total requirement to N70 million.

    But the association protested and urged the CBN to give it members up to 40 weeks from June 23 to comply with the directive.

    Besides, the association also appealed to the CBN to reduce the N35 million caution deposit.