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Tag: next week

  • Senate to begin 2018 budget consideration next week

    Senate to begin 2018 budget consideration next week

    The Senate would commence the consideration of the general principles of the 2018 Appropriation Bill next week, Senate President, Abubakar Bukola Saraki, said yesterday.

    Saraki, who made the announcement in plenary, said the consideration of the budget would begin on Wednesday, 22nd November 2017 and end on Thursday, 23 November, 2017.

    He asked Senators wishing to contribute to the debate on the general principle of the  Bill to indicate by writing their names in the register.

    Throwing more light on the announcement, Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi, said copies of the budget as presented by President Muhammadu Buhari, are being produced for distribution to Senators.

    Abdullahi said all senators should have been given copies of the fiscal document, but for the voluminous nature of the budget, saying the President presented two copies of the budget, one for the Senate and the other for the House of Representatives.

    He said copies of the budget were already being mass produced, assuring that by next week, debate would commence.

    On the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF) which is yet to be approved, Abdullahi said it would be considered along side the budget.

    President Buhari on November 7 presented a budget of N8.612 trillion to the joint sitting of the Senate and House of Representatives for the 2018 fiscal year.

    The National Assembly is expected to pass the budget before the end of 2017, or early next year to enable the Executive begin its implementation.

  • CBN to raise N120.5b treasury bills next week

    CBN to raise N120.5b treasury bills next week

    The Central Bank of Nigeria (CBN) has said it plans to sell N120.52 billion of three-month, six-month and one-year Treasury bills on June 24, the bank said.

    The bank said in a statement it would sell N31.19 billion worth of the three-month paper, N39.33 billion of the six-month bill and N50 billion in the one-year debt next week, using the Dutch auction System.

    At an auction later, the bank is offering N143.64 billion worth of Treasury bills of tenors ranging between three-month and one-year.

    In addition, a total of N80 billion worth of Treasury bonds with maturities between five-year and 20-year are also on offer at the same auction. The results of both auctions will be published today.

  • Lectures begin next week

    Old students of AAUA will resume classes for the 2014/2015 academic session on Monday.

    They resumed between February 22 and March 1, and have spent the intervening time doing their registration. New students are to begin their classes on March 15.

    According to the Academic Calendar approved by the University Senate last week, Pre-registration (on-line) exercise for the newly admitted students will hold between February 22 and 28, 2015.

  • Stanbic IBTC may announce dividend next week

    Stanbic IBTC Holdings Plc is expected to announce its dividend recommendation next week as directors of the financial services group meet to review the earnings and reports for the immediate past year ended December 31, 2014.

    The board of directors of Stanbic IBTC Holdings is scheduled to meet on Wednesday, February 4. The main agenda for the meeting is the review of the financial statements and report for the financial year ended December 31, 2014.

    At the meeting, the board will consider and approve the audited financial statements of the company as well as the appropriate dividend to be recommended for payment to shareholders.

    The meeting will also consider other corporate actions including the date, time and venue for the annual general meeting as well as closure and payment dates for the dividend recommendation.

    Stanbic IBTC Holdings is expected to immediately announce decisions at the board meeting in line with the listing requirements at the Nigerian Stock Exchange (NSE).

    Third quarter report of Stanbic IBTC Holdings for the nine-month period ended September 30, 2014 showed that interest income rose by 15.7 per cent to N18.291 billion while non interest income grew by 19.2 per cent to N14.754 billion. Profit before tax grew by 45.7 per cent at N10.399 billion while profit after tax and minority interest rose by 14.7 per cent to N8.228 billion.

    Despite the impressive results, Stanbic stock declined by 3.04 per cent on the Nigerian Stock Exchnage Wednesday by 3.04 per cent at N0.91 to N29.01 per share

    Post-listing rules at the NSE require quoted companies to submit their earnings reports, not later than three months after the expiration of the period. Most quoted companies including all banks, major manufacturers, oil and gas companies, breweries and cement companies use the 12-month Gregorian calendar year as their business year. The business year thus terminates on December 31.

    NSE’s regulatory filing calendar indicates that the deadline for submission of annual report for companies with Gregorian calendar business year will be Tuesday March 31.

  • Maku to resign next week

    Maku to resign next week

    Minister of Information Labaran Maku is set to resign on October 20 to run for the Nasarawa State governorship.

    He spoke yesterday at a special mass thanksgiving at the Catholic Diocese of Lafia, St. Patrick’s Parish, Akwanga, Nasarawa State.

    Maku announced the donation of N7.6million from his family and friends in the cabinet and outside the cabinet for the cathedral in Lafia.

    Thanking God, he said whatever he had achieved from 1999 to date was by the grace of God.

    According to him, it is time to sacrifice the comfort of a ministerial position, join his people and go into the wilderness in Nasarawa State to stop the killings, miscarriage of justice and liberate the masses.

    Stressing that he was a typical example of a grass to grace because of God’s favour, Maku said he was born to peasants farmers, who did not even record the date of his birth in a village that is likened to the biblical reference that “can anything good come out of Nazareth?”

    He said: “Just thank God for me, just pray for me because by next week (October 20), anyone in the cabinet, who wants to contest election must step down. The time has come for us to do that.

    “It is time to make my interest known. By the grace of God, I will sacrifice the comfort of a minister by going into the wilderness. I want to sacrifice the comfort of the high office to join my people in the wilderness in Nasarawa State and fight for peace and justice.

    “There is too much blood being shed here. There is too much evil taking place here. There is too much destruction going on in Nasarawa State. The time has come for us to ask God to bring this era to an end. It is only God who can do it. We are asking God that as we step out voluntarily, which is very important to me, as we go into the wilderness, what He did for Moses He will do for us by leading us to cross the Red Sea of politics, bring water out of rock, give us manna from  heaven and pull down the wall of Jericho.

    “There may be giants out there, all over, but like Caleb, we trust God that we will conquer. So all we need is prayer. I thank God for what He has done for me. But this sacrifice I am making is for my people, to liberate them.”