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CIS inducts 122 Associates, invests 51 Fellows,

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Chartered Institute of Stockbrokers (CIS), has admitted 122 new Associate Members, conferred Fellowship on 51 others, pledged increased advocacy on investor education and financial literacy and grown its membership base by attracting millennials and Gen Z through deployment of modern information technology.

Addressing the inductees during the Institute’s 27th Annual Conference themed  ”Appraising New Trends in the Global Financial Market: Localizing the Benefits.” In  Abeokuta, Ogun State  at the weekend, the Institute’s President and the Chairman of Governing Council, Mr Oluwole Adeosun, who congratulated the new Fellows for attaining the highest level in the profession, urged the Associate Members to uphold the tenets of integrity in order to operate as certified professionals.  

“You have joined a very distinguished and privileged class of financial professionals respected all over the world. If you conduct yourself within the Code of Ethics, as transmitted to you during your training, it is assured that you will be a success in life. 

“You will secure well-paying jobs, interact with high-flying professionals around the world, and build a happy and loving family. However, remember that to achieve all these, you have to conduct yourselves in accordance with the Code of Ethics of the Institute,” said Adeosun.

Earlier in his welcome address, Adeosun, explained that CIS had always been on the front line of advocacy in the Nigerian financial market. According to him, the Institute is pre-occupied with the training and certification of its members for enhanced global competitiveness

“Chartered Institute of Stockbrokers was established by Act 105 of 1992 (Laws of the Federal Republic of Nigeria) and given the clear mandates of determining the standard of knowledge required to practice as a core professional in the Securities and Investment industry in Nigeria, and to provide the required training and certification for the intended practitioners. 

“As part of our market development efforts, we shall expand advocacy and financial literacy for investors and continue to attract millennials and Gen Z to our profession through effective and efficient deployment of modern information technology,” he said.

In his remarks. the Governor of Ogun state, Prince  Adedapo Abiodun, who expressed delight at the Institute’s activities and promised Ogun State’s willingness for collaboration with the market regulators and operators, challenged the Institute amongst other key stakeholders on the need to create more awareness on effective utilization of the capital market to bridge infrastructural deficit in Nigeria.

Abiodun stated that the capital market served  as a veritable source of funds, which governments at all levels could tap into for the execution of various projects and said Ogun State was willing to take advantage of this in the near future.

The Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, in his goodwill message, said the CIS’ 2023 theme was timely and relevant, stressed that global capital markets  were undergoing significant reforms, driven by key trends such as sustainable finance, digital assets, technology, private markets, and globalization.

“These developments underscore the increasing need for investors to stay informed and adaptable. The conference is an opportunity for stakeholders to engage in profound discussions, share insights, and strategize on how Nigeria can effectively navigate the domestic and global capital markets,” said Yuguda.

The Conference attracted many key speakers on diverse topics on the financial market and featured drama presentations  and excursions to three listed companies’ factories in Ogun state and the famous Olumo Rock in Abeokuta.

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FAAN starts sales of E-Tags at airports

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The Federal Airport Authority of Nigeria (FAAN) said it has started the sales of e-tags at airports.

FAAN confirmed this in a statement on Friday. “Following the presidential directive that all citizens are mandated to pay for e-tags at all the 24 federal airports across the country, we wish to inform the general public that the e-tags are available for sale from Friday, 17th May 2024 at the following locations,” it said.

“Lagos: Murtala Muhammed International Airport Lagos, Terminal 1, 5th Floor) Office of HOD Commercial. Contact: 08033713796 or 08023546030.

“Abuja: Nnamdi Azikiwe International Airport, HOD Commercial Office (General Aviation Terminal) Contact: 08034633527 or 08137561615.”

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FG, Labour to reconvene next week over minimum wage negotiation

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The Tripartite Committee on Minimum Wage will reconvene on Tuesday, May 23 to further negotiate a reasonable new minimum wage for workers, after the organised labour walked out of the negotiation on May 15.

An invitation letter sent to the labour leaders by the chairman of the committee, Bukar Goni, states that the other members of the committee have agreed to shift grounds from the N48,000 proposal which was made on Wednesday.

The letter appealed to the labour leaders to speak to their members and attend the reconvened meeting next Tuesday.

The organised labour comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have proposed a new minimum wage of N615,000, which is way higher than the N48,000 proposal by the government.

The organised private sector, on the other hand, proposed an initial offer of N54,000. After dumping the talks, the labour leaders addressed a press conference where they expressed their anger over the Federal Government’s offer.

They blamed the government and the private sector for the breakdown in negotiation.

The Federal Government had failed to present a nationally acceptable minimum wage to Nigerians before the May 1 Labour Day.

The situation has forced labour to be at loggerheads with the government. In the wake of the tussle, the NLC President Joe Ajaero insisted on the N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the economic situation worsened by the hike in the cost of living and the needs of an average Nigerian family of six.

Ajaero and labour leaders have given the Federal Government a May 31 deadline to meet their demands.

On January 30, Vice President Kashim Shettima inaugurated the 37-member  tripartite committee to come up with a new minimum wage.

With its membership cutting across federal, and state governments, the private sector, and organised labour, the panel is to recommend a new national minimum wage for the country.

During the committee’s inauguration, the Vice President urged the members to “speedily” arrive at a resolution and submit their reports early.

“This timely submission is crucial to ensure the emergence of a new minimum wage,” Shettima said.

The 37-man committee is chaired by the former Head of the Civil Service of the Federation, Goni Aji.

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Tinubu appoints governing board members for 111 tertiary institutions

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President Bola Tinubu has approved the appointments of at least 555 persons to serve as Pro-chancellors/Chairmen and members of Governing Boards of 111 federal universities, polytechnics and Colleges of Education.

This followed Tinubu’s assent to a list of nominees selected by the Ministry of Education.

It was signed by the ministry’s Permanent Secretary, Mrs. Didi Esther Walson-Jack.

“The inauguration and retreat for the Governing Councils will take place on Thursday, May 30 and Friday, May 31, 2024, at the National Universities Commission, 26 Aguiyi Ironsi Street, Maitama, Abuja. Both events will commence at 9:00am daily,” said Walson-Jack.

When contacted for confirmation, the Presidency said the list emanated from the Ministry of Education.

“This is from the Federal Ministry of Education…they make the nominations and forward them to the President to sign. But they are at liberty to release it from their end,” the President’s Special Adviser on Information and Strategy, Bayo Onanuga, told our correspondent on Saturday.

The appointments come days after the Academic Staff Union of Universities had threatened to embark on another strike, potentially disrupting the academic calendar and causing further setbacks in the country’s higher education sector.

The union, on Tuesday, decried the failure of the Federal Government to appoint Governing Councils for federal universities.

The union also faulted what it described as the nonchalant attitude of the President Bola Tinubu-led Federal Government to matters about academics in federal universities.

The body of academics, during a briefing at the University of Abuja, also faulted the 35 per cent salary increment for professors and the 25 per cent salary increment for other academics in the university system.

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