By Peter Egwuatu
The Association of Securities Dealing Houses of Nigeria ( ASHON) has urged the Federal Government to initiate policies that will enable commodities exchanges to contribute towards Nigeria’s economic growth and development.
Making this call in a statement a statement signed by its Chairman, Chief Onyenwechukwu Ezeagu, the Association said:” To enable the operators in the Commodities Ecosystem operate optimally, the government should enact relevant policies that prevent illegal mining by foreigners, ensure autonomy of the Capital Market apex regulator, the Securities and Exchange Commission (SEC), protect export proceeds, legislate laws to enable Agricultural Commodities to be linked to financial markets and fungibility and support for Pension funds for increased participation in the commodities ecosystem.
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TODAY
January 7, 2021
Despite opposition from stakeholders, the federal government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended to for at least six years, thanks to the 2020 Finance Act.
With the coming into force of the law, which empowers the federal government to borrow from the two sources, proceeds from the two sources will stand as special credit to the federal government through the Unclaimed Funds Trust Fund contained in the Finance Act 2020, recently signed into law by President Muhammadu Buhari.
Part of the law provides that, “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and any unutilised amounts in a dormant bank account maintained in or by a deposit money bank, which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account, shall be transferred immedi
President Muhammadu Buhari
Despite opposition from stakeholders, the federal government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended to for at least six years, thanks to the 2020 Finance Act.
With the coming into force of the law, which empowers the federal government to borrow from the two sources, proceeds from the two sources will stand as special credit to the federal government through the Unclaimed Funds Trust Fund contained in the Finance Act 2020, recently signed into law by President Muhammadu Buhari.
Part of the law provides that, “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and any unutilised amounts in a dormant bank account maintained in or by a deposit money bank, which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account, shall be transferred im
With about six trading days left in 2020, the stock market has recovered from the decline suffered in 2018 and 2019 and is set to close with a growth of about 40 per cent, writes Goddy Egene
When trading at the stock market resumed in 2020, there was high optimism that the market would witness a recovery from the losses recorded in 2018 and 2019. The optimism was based on past experience in the market, where a rebound is always witnessed after two years’ decline.
For instance, after declining in 2015 and 2016, the nation’s bourse recovered with a jump of over 40 per cent in 2017. So when the market dipped in 2018 and 2019, market stakeholders were optimistic that 2020 will see the return of the bulls to the stock market.