Banking and Finance

Nigeria’s Pension Industry and Infrastructural Development

The evolution of Nigeria’s pension industry is similar to that of most countries in the world. Most of the countries started with the Defined Benefit (DB) scheme, but later changed, either completely, to the Defined Contributory (DC) scheme (common in Switzerland, Poland and Chile), or a combination of the two (as seem in Spain, United States of America and the United Kingdom). Even those that currently offer only the DB scheme are already considering the adoption of the DC scheme.

Finance Corporation to Issue $1b bonds in Nigeria

The International Finance Corporation (IFC) has said that it is working with regulators in Nigeria to issue a series of local-currency bonds totaling $1 billion to finance private industrial projects.

Andrew Cross, IFC’s manager in charge of Treasury Client Solutions for Africa, said the projects would cover areas such as power, housing and support for the development of Small and Medium Scale Enterprises in Nigeria.

Stock Market Performance Closes on Positive Note

Trading activities at the Nigerian Stock Exchange (NSE) on Thursday was bullish as gains by 45 shares helped to lift the bourse’s measuring parameters to a high level.

The NSE All-Share Index and market capitalisation rose by 0.78% each, to close at 39,119.88 basis points and ₦12.51 trillion, respectively on Thursday.

As usual, the banking sub-sector maintained its lead on the activity chart, as trading in the sub-sector accounted for 25% of the total volume traded. Investors exchanged 139.63 million shares, valued at ₦1.57 billion in the sub-sector.

Harnessing Trade Potentials for an Inclusive Economy

The significance of an inclusive economy is in the value of indigenous participation and sectoral linkages. It is a major channel through which the benefits of growth could be transmitted to improve the well being of the citizens.

The challenge of making the global economy more inclusive demands that we identify the structural causes of inequality and put forward the conditions under which global inclusiveness can be achieved. Ideas on how to shape inclusive societies should also be proposed in terms of concrete policy measures.

The 32 Stocks: Gold or Rust?

In its efforts to deepen the nation’s capital market, the Securities and Exchange Commission (SEC) on June 14, 2013, unveiled 32 securities as collateral for margin loans. This is to ensure that stakeholders, who wish to be involved in margin lending, are well guided. The reason given for this is to prevent a recurrence of the 2008 stock market downturn that shook the country.

NAICOM to Issue Microinsurance licences

Investigations revealed that the National Insurance Commission is set to issue new licences to insurance firms to operate full fledge microinsurance companies. Microinsurance is the protection of low-income people against specific perils in exchange for regular premium payment proportionate to the likelihood and cost of the risks involved. The target population typically consists of persons ignored by mainstream commercial and social insurance schemes, as well as persons who have not previously had access to appropriate insurance products