Opciones Binarias repelon: Forex N2

Glosario de Futuros y Forex Diccionario N2

Por el escorpión Publicado: 23 de septiembre de 2009

Dólar de Nueva Zelanda (NZD)

La moneda de Nueva Zelanda. Un NZD se compone de 100 centavos.

Un comerciante que negocia principalmente en comunicados de prensa tales como informes económicos y anuncios de la Reserva Federal. Los lanzamientos de las noticias son generalmente seguido por tiempos de negociación agitados.

Un corredor que usa un escritorio que no negocia utiliza un sistema que empareja a los comerciantes institucionales (abastecedores de la liquidez) con los clientes al por menor. Los proveedores de liquidez que compiten cotizaciones se introducen en el sistema, donde el cliente minorista recibirá entonces la mejor oferta.

Movimientos de mercado que no coinciden con el desarrollo general de la tendencia en el mercado. Cuanto más corto sea el período de tiempo, más ruido habrá, ya que será más difícil separar los patrones comerciales irregulares de los patrones.

Un comerciante que generalmente no utiliza datos fundamentales o técnicos para hacer operaciones, sino que se basa en movimientos a corto plazo, tendencias y comunicados de prensa.

Tipo de Cambio Efectivo Nominal (NEER)

Medida del tipo de cambio calculada tomando la media ponderada de los tipos de cambio de una nación contra un conjunto de monedas, donde los pesos están determinados por la balanza comercial de la nación con cada país.

Un intercambio realizado por una empresa en su propio nombre o por uno de sus socios, empleados o personal, cuando la firma miembro está autorizada para operar en la bolsa. El comercio no se hace en nombre de un cliente, de ahí su nombre.

Una moneda que no se negocia en el mercado de divisas, pero sólo se utiliza para fines domésticos. Véase también: Moneda no convertible

Estadística de empleo publicada por la Oficina Estadounidense de Estadísticas Laborales. Esta estadística mide el número de personas empleadas en los EE. UU., excepto para aquellos empleados en el gobierno, la industria agrícola y los hogares privados.

La diferencia entre el dólar canadiense (CAD) y el dólar estadounidense (USD) basado en la negociación que tiene lugar al mediodía (11.59-12.01) todos los días.

La moneda de Noruega. La corona noruega se compone de 100 oere.

Una cuenta que un banco tiene en otro país en la moneda local. Vea también: Cuenta Vostro

El día en que una cámara de compensación emite un aviso de intención de entregar contratos de Futuros.

Lo sentimos, tu cuenta no tiene acceso para publicar comentarios.

¡Hola! Estás viendo como invitado. Para acceder a nuestros recursos especiales de comercio de divisas, inscríbase hoy mismo. Obtendrá acceso ilimitado a nuestros sistemas de divisas forex, herramientas, artículos, noticias y más.

CURSOS FOREX

N2 Training Center ha estado proporcionando una educación de calidad actualizada en las plataformas de los mercados financieros desde 2005. Además de esto, se especializa en el desarrollo de sistemas de comercio automatizado e indicadores personalizados utilizando el lenguaje Metaquote.

Debido al hecho de que el mercado de divisas está creciendo día a día y muchos inversores en particular de los Emiratos Árabes Unidos están siendo atraídos hacia la oportunidad potencial de este mercado, ahora estamos ofreciendo programas de formación / cursos sobre las últimas herramientas de comercio en línea y software para el comercio en el extranjero Intercambio (FOREX).

N2 Training Center ofrece un curso profesional certificado que fue formado por el fundador del Grupo N2 de empresas, el Sr. Majid Naghedinia y sus miembros de la Oficina de Educación Creativa. Majid tener casi 10 años de experiencia como un corredor financiero ha combinado sus ideas innovadoras y la experiencia personal de comercio en la creación de estos increíbles cursos certificados.

Nuestra Misión: Transmitir experiencia comercial real a través de nuestro coaching de alta calidad, que asegura el éxito de nuestros estudiantes como Traders Profesionales Certificados (N2CPT).

Nuestra Visión: Nuestros estudiantes certificados están entre el 10% de los comerciantes financieros profesionales más exitosos del mundo.

Nuestro programa de entrenamiento fue desarrollado como resultado de combinar ideas innovadoras y experiencias comerciales personales.

Desde 2005, el centro de formación N2 continúa evolucionando en la prestación de una educación de calidad en materia de divisas mediante la aplicación de las lecciones aprendidas de los buenos y malos tiempos en el mercado.

Nuestro programa de formación consiste en la ilustración y los ejercicios donde los estudiantes consiguen aprender cómo utilizar las herramientas y el software más últimos en el mercado usando la plataforma que negocia de la modernidad. Con los ejercicios prácticos y los juegos los estudiantes aprenderán el enfoque de sentido común en el comercio del mercado financiero basado en la situación del mercado de la vida real. Después del curso, usted será capaz de convertir información de mercado en una idea de comercio, usted será capaz de planificar y ejecutar estrategias de comercio estratégico con alto nivel de gestión de riesgos. Le enseñaremos cómo detectar tendencias en el mercado, cómo controlar sus emociones y cómo utilizar el análisis técnico y fundamental para tener un mejor indicador en el mercado.

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Otros: Mejores corredores de Forex para scalping Cómo elegir un corredor de Forex - 5 cosas por encima de todo

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BVN: N2.6trn fondos lavados atrapados en los bancos

NICHOLAS UWERUNONYE Abuja

El Bank Verification Number (BVN), introducido por el Banco Central de Nigeria (CBN) para vincular a las personas a sus diversas cuentas bancarias, ha llevado a un enorme N2.6 billones de dólares atrapados en varios bancos de todo el país.

Se dice que los dueños de estas cuentas no hicieron reclamaciones a dicha suma al negarse a vincular su BVN a las cuentas por temor a ser etiquetadas como lavadoras de dinero.

Con la institución de BVN, ningún cliente bancario puede retirar dinero de una cuenta a menos que esté vinculado con el número, que sincroniza las diferentes cuentas del cliente.

"Si usted tiene 10 cuentas en diferentes bancos estará vinculado a usted y el CBN tendrá un resumen claro de todo el dinero que tiene", dijo un gerente de banco en un banco de primera generación.

Como resultado de la medida, no menos de N2.6 billones de dólares se dice que han quedado atrapados en los bancos con los propietarios se niegan a recogerlos sin señalar preguntas sobre cómo hicieron el dinero.

Hallazgos independientes revelan que la BVN también ha facilitado una reducción en el comercio ilegal de divisas por parte de los operadores de la Oficina de Cambio (BDC). Antes de ahora, los BDCs presentan falsas listas de compradores de divisas de los propietarios de cuentas. Pero con BVN, la lista podría ser examinada al comparar las cuentas, por lo tanto, poner caras en las solicitudes de divisas.

Durante mucho tiempo se sospechó por el Gobierno Federal y las autoridades monetarias que una buena parte de las asignaciones federales a los estados, ministerios, departamentos y agencias (MDAs) encontrar su camino en Wuse y otros centros de intercambio de divisas en Lagos y otros estados.

"Es el primer puerto de escala para aquellos que desean intercambiar dinero saqueado en dólares, libras y euros en su transferencia hacia las cuentas offshore y los bolsillos privados", explicó un ejecutivo de la Comisión de Delitos Económicos y Financieros (EFCC, por sus siglas en inglés).

En la delantera de las transacciones subrepticia son los banqueros y los operadores registrados BDC que el flete de mercancías hacia el mercado negro en la malversación financiera hasta entonces desenfrenada llamada de otro modo 'disparar redondo'.

"Eliminar el mercado negro es reducir significativamente la transferencia de fondos ilícitos", explicó el funcionario de EFCC. Se recordará que hubo un gran altercado entre Ngozi Okonjo Iweala, Nenadi Usman, ambos ministros en funciones en el ministerio de finanzas bajo el ex presidente Olusegun Obasanjo por un lado y gobernadores estatales por el otro.

Los ministros habían llamado la atención del público sobre la ráfaga de actividades en el mercado negro cuando las asignaciones federales llegaban a los estados.

Bismark Rewane, consejero delegado de Financial Derivatives, también vinculó a banqueros y funcionarios en el banco de ápice a esta raqueta de la economía-paralizante.

Pero con las nuevas medidas y pasando por el escenario pintado en la angustia de los comerciantes de divisas, los que tienen el hábito de utilizar el mercado negro como conducto para saquear fondos públicos parecen ser las primeras causalidades.

El año pasado, el CBN había dicho que cualquier cliente del banco sin el BVN sería a partir del 1 de noviembre de 2015 ser considerado para tener información inadecuada de su cliente (KYC).

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John Holt registra ganancia de N1.63b en medio de un desafío forex

Por Editor | 25 de enero de 2016 | 11:40 pm

John Holt Nigeria Plc ha registrado un beneficio operativo de N1,63 millones a pesar de la devaluación de la naira en 2015, y las restricciones de moneda extranjera impuestas a algunos elementos del Banco Central de Nigeria.

Para el año que terminó el 30 de septiembre de 2015, el beneficio operativo, sin embargo, se redujo en 18.50 por ciento de N2 mil millones en el año anterior.

Pero los analistas han dicho que los bajos índices de gearing de la compañía y su fuerte base de activos hacen que su precio de acciones sea atractivo para los inversionistas que anhelan firmas de primer nivel.

Las ventas se redujeron un 13,87 por ciento a N2,42 mil millones en 2015, ya que la empresa se embarca en una expansión agresiva con miras a consolidar su participación en el mercado.

La empresa con interés en negocios que van desde la ingeniería, el arrendamiento financiero, el comercio y la distribución dijo que la devaluación de la naira fue un drenaje en sus líneas de fondo, ya que la mayoría de sus materias primas y equipos fueron importados.

"Aunque la compañía y sus filiales han realizado una pérdida antes de impuestos de N171m en comparación con el beneficio antes de impuestos de N427m el año pasado, N528m fue el cambio por la pérdida sufrida como resultado de la devaluación de Naira", dijo la compañía en un comunicado.

Atribuyó la caída en los ingresos a la caída en el precio del crudo, lo que afectó negativamente los ingresos de los clientes de petróleo y gas.

"Las ventas también se vieron afectadas negativamente por la tensión e incertidumbre asociadas con las elecciones generales de 2015 y la subsiguiente calma en la economía después de las elecciones", dijo la compañía.

El ratio deuda / capital ajustado de la compañía cayó a 43 por ciento en 2015, frente al 51 por ciento en 2014, mientras que el costo financiero cayó un 7,60 por ciento a N231 millones.

La disminución del ratio deuda / capital ajustado para el Grupo durante el año se debió principalmente a una disminución de la deuda de N400 millones de N1.8 mil millones en 2014 a N1.4 mil millones en 2015.

"Esto fue como resultado de la liquidación del préstamo FBN y la liquidación de los pasivos financieros de importación", dijo la compañía.

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Nigeria, Japan Sign N2.17bn MoU for electricity supply

In it quest to improve electricity supply across the country especially in the Federal Capital Territory, the Federal Government has signed Memorandum of Understanding (MoU) of $11m (N2.17bn) with the Japanese Government for an emergency improvement of electricity supply facilities in Abuja.

This developmental project is aimed at procuring and installing power capacitor banks at the existing two sub-stations in Abuja and neighbouring Nasarawa State with the Japanese International Cooperation Agency and the Ministry of Power collaborate for the implementation.

This, according to the agreement, will decrease the transmission loss and assist in stabilising power supply to approximately 7,000 households within the Federal Capital Territory.

The Minister of Budget and National Planning, Senator Udo Udoma, signed the pact on behalf of the Federal Government, while the Ambassador of Japan to Nigeria, Sadanobu Kusaoke, signed on behalf of his country.

Udoma said, “The sustained implementation of this project is expected to pave way for a significant access to quality socio-economic services, thereby leading to reduction in unemployment in the country and promoting community empowerment.

“The Federal Government remains committed to working closely with various stakeholders in the economy to achieve sustainable economic development. This ministry will ensure that we create an enabling environment required for the sustainability of this partnership.”

In his remarks, the Japanese envoy said Nigeria’s power sector had been one of the priority in his country’s development cooperation with Nigeria.

Kusaoke said, “The power sector is a key to improve the quality of life for people and also to promote industry. Power supply is one of the determinant factors when both domestic and foreign investors decide whether or not to invest in a county.

Nigerian stock market loses N2.354tn in one year

For the second year running, investors have made huge losses in the Nigerian equities market as the Federal Government has been unable to find solutions to the nation’s economic woes, STANLEY OPARA writes

The market capitalisation (equities only) of the Nigerian stock market has shed a total of N2.354tn in the past year.

The Nigerian Stock Exchange, in its fourth quarter 2014 Fact Sheet, put the market capitalisation at N11.478tn; but at the end of trading on Friday, it stood at N9.124tn.

This, therefore, represents a 20.5 per cent drop in the stock market value.

The market had been on a decline for the greater part of this year due to various factors.

In January alone, the renewed dumping of shares by investors at the stock market over uncertainty in the political landscape led to a dip of N1.16tn in the market capitalisation of the Exchange in the first three trading days of the year.

Trading on the NSE in 2014 had closed with a decline of 16.1 per cent in the market capitalisation, which resulted in the stock market opening 2015 on a bearish note.

The NSE All Share Index, which stood at an average 34,657.15 points in the last quarter of 2014, has fallen to 26,537.36 so far this year, according to NSE statistics released on Friday. This represents a drop of 23.4 per cent.

This trend has further shattered the dreams of the Exchange to stabilise and further grow the market capitalisation.

The Chief Executive Officer of the NSE, Mr. Oscar Onyema, had in the early part of this year said that his self-imposed target of achieving $1tn (about N197tn) market capitalisation by 2016 was no longer feasible.

Onyema, while speaking at the NSE annual review of the market in 2014 and outlook for 2015, had said that last year started on a positive note with macroeconomic indicators such as inflation and the exchange rate staying within projected ranges.

The second quarter of 2014, he noted, kicked off on a high note following the nation’s Gross Domestic Product rebasing conducted by the National Bureau of Statistics.

The results of the rebasing did not only confirm Nigeria as the largest economy in Africa with a GDP of N80.22tn ($509.97bn), but also revealed the nation to be one of the least leveraged in the world, with a revised debt-to-GDP ratio of 11 per cent, from 20 per cent.

Onyema had attributed the woes of the market from the second quarter of 2014 to the falling oil prices in the international market, saying that the challenges in the Nigerian oil and gas sector, which resulted in crude oil production dropping below 2.3 million barrels per day, aggravated the problem.

He said, “The impact of this drop in production was exacerbated in the third quarter by crude oil prices plummeting, forcing the Central Bank of Nigeria to devalue the naira by eight per cent, and thus push the benchmark interest rate to a record 13 per cent in an effort to preserve the nation’s foreign reserves, which stood at $34.50bn on December 30, 2014, from $43.61bn at the start of the year.

“The bearish sentiments at the capital market prevailed for most of the year as foreign investors steadily withdrew from the Nigerian market due to currency risk and the recovery of developed economies, and the effects of the United States Federal Reserve tapering of its quantitative easing policy. Several macroeconomic developments also contributed to the decline in market performance.”

The poor start to 2015 was worsened by strong political concerns and increased uncertainties about the future of the country in the build-up to the general elections. These, together with the economic uncertainties, caused more foreign investors, who dominate the market, to dump their shares.

Institutional domestic investors such as the Pension Fund Administrators, spooked by the uncertainties, reduced investment in the stock market in favour of fixed income instruments such as bonds, while the retail investors were unable to mop up the stocks in the market even though the prices were at lows.

Although the peaceful conduct of the general elections boosted the market capitalisation and the All-Share Index to a year high in April, the delay in the appointment of ministers and consequent lack of clarity about the economic policy of the new government further discouraged investment.

The country’s declining Gross Domestic Product growth and actions of the Central Bank of Nigeria in the third quarter of the year, especially with regard to foreign exchange, did not help matters.

The Head Investment Research at Afrinvest West Africa Limited, Mr. Ayodeji Ebo, attributed the capital market woes in recent times to the CBN foreign exchange policy, which he noted was largely restrictive.

Quoted companies on the NSE, according to him, are being starved of the requisite forex needed for effective business operations.

Ebo said further adherence to the policy by the CBN would mean more harm for the capital market and the larger domestic business environment.

The NSE All Share Index had slid more than 21 per cent from this year’s closing high on April 2, meeting the common definition of a bear market. The index slipped by 2.3 per cent to 28,137.65 points at that date, the lowest level since February 16.

On December 9 this year, the stocks shed 2.4 per cent to fall to a new three-year low after the global oil prices tumbled to their lowest in more than six years.

The Nigerian stock market, on the Morgan Stanley Capital International Frontier Market Index, fell on thin volumes to levels not seen since December 2012. The market was said to have fallen by 20.6 per cent year-to-date, breaking below the psychologically key 27,000-point line.

It has been a generally poor year as all 12 stock market indices have declined. Eight of them were down by more than 20 per cent, with only three – the NSE Insurance Index (-4.48 per cent), the NSE Industrial Goods Index (-7.14 per cent) and the NSE Alternative Securities Market Index (-0.39 per cent) – falling by less than 10 per cent.

Banking shares have declined the most, with the NSE Banking Index shedding 24.4 per cent year-to-date, worse than the All-Share Index, as investors sold off relatively liquid financial stocks.

Analysts have said only clear policies by the government and positive news about the economy can boost confidence in the market and halt the current slide.

The Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu, said recently that investors were more interested in concrete policy pronouncements on the economic direction of the country.

He told our correspondent following the inauguration of the ministers “The market at this stage will only respond to positive policy pronouncements.

“What is the government’s policy on interest rate, inflation rate and exchange rate? Those macroeconomic factors are what will propel market response.”

Mensaje de navegación

The agricultural sector is currently receiving a boost from all levels of government, particularly with the Federal Government seeking to make farming attractive to the youth with its Agric Business initiative.

Even though we have exposed the opportunity of obtaining a hectare of farmland from the Federal Government’s River Basin Authorities for only N2,500 for the purpose of farming about two years ago, we have observed that a lot of Nigerians still don’t know about it let alone access it.

However, we are glad to know that many of those who got the information from SuccessDigest and went for the land have a good story to tell today.

In this edition, we will be revisiting the opportunity to see the latest developments about the land and how to get one for yourself; including how anyone can make profit farming on such lands even without previous experience, and every other thing you need to know.

Recently, we interviewed one of the country’s foremost Agropreneurs with a considerable investment in farming on the river basin across the country, AfricanFarmer Mogaji, and he didn’t fail to reveal all what you need to know about the opportunity and farming on the land.

What is this opportunity about and what are the new developments that have come up?

The opportunity is that with N2,500 you can get a hectare of land for farming for a year. All that is needed to do if you are interested is to visit any of the river basins in Nigeria, for the purpose of this interview, let us use Ogun State River Basin as a case study because that is the closest to people living in Lagos State.

Why Ogun State and not Lagos State, you may want to ask? As at the time of this interview, Lagos State has sold out her lands; also please know that if by the time you first read this story in SuccessDigest 2years ago and you didn’t take action in Lagos state, you have missed out of the Lagos state project.

Lagos State Govt. has taken about 100 hectares from the river basin for her state farming project. They wouldn’t have taken such a large portion of the land if more Nigerians have taken steps to buy into the N2, 500 to lease 2 ½ acres of farmland for a year from any of the river basins in Nigeria.

So Ogun State will be the next that will come to mind, especially for those living around Lagos and Ogun State.

Note that you don’t have to be a native of that community before you are attended to, but you must be a Nigerian with proofs. So all you need to do is walk into the ministry of agriculture in your preferred state, ask for the river basin headquarters offices, in this case, in Abeokuta, Ogun state, or if you know someone who is able to take you to their project site, tell them you want the N2, 500 land.

With N2, 500, you get 2 ½ acres of farmland to farm for a year. That is about 15 plots of land, which is same as a standard football field where international football matches are played. It can also be measured as one hectare of land.

Once you get to the site, ask for the project manager, tell him that you need land for farming and you will get it. There is this idea about Nigerians that the Govt. is not working, however, from my experience I have come to understand that in life it is what you look for that you will find. If you believe it is not working, you will not get it, but if you believe it is working, then you will get it.

Es tan simple como eso. You just get there first, if there no land available, they will tell you and advice you on where else you can get land.

There are massive lands in Ogun State. In fact, there are three locations that lands are ready and waiting for people to come and take, both without and with irrigation. When you get to the head office of the river basin, they will be able to give you details. The Project Manager who knows the sites location and availability will be able to give you details and advice, then you can make payment for your preferred land right there.

Once payment is made, they will allocate your portion to you, if it is bushy, you will have to cut the bushes or clear the grasses.

Some people who got to read about the opportunity the last time it was published in SuccessDigest got the land for N2, 500 but were unable to get a tractor to clear the bush for them before planting. Some actually left their lands without farming on it for the whole year. But because they have paid for it, the river basin authority could not take it from them to give to those who were ready to farm.

So the Federal Govt. has now made it compulsory that once you have paid the N2, 500 and the land needs clearing you will have to pay for the tractor that will do the clearing for you. Also, now they have the mandate to give the land to other persons who are ready to farm on it, because the reason for the land in the first instance is that govt. wants more people to go into farming to increase fresh crop production and reduce unemployment.

If you have paid for a tractor to clear the land, you will not likely abandon it. The price of hiring a tractor varies from location to location, but I can assure you, it is affordable because the tractor will work on the land twice before the years runs out. It costs between N7,000 to N15,000 to hire a govt. tractor.

If you can get a tractor outside cheaper to come and work on the land, you are welcomed, but I can tell you the govt. has made it easier and competitive enough that you wouldn’t have to border to bring your tractor. Even if their tractors break down, they will quickly fix it because they need that money also.

I also like to quickly say that lands with irrigation are more expensive than lands without irrigation because they will have to buy diesel to power the generator that will pump the water.

What you need to know before planting

Once the land has been paid for and a tractor has worked on it, it is now ready to be planted on. It is therefore very important to ask for the history of the land as it regards what the previous farmer planted in the last 2years, so that if you know the crops that have been planted over time, you may want to change to another crop because of diseases that might have built-up on the land over the years, but if you have access to a good coach or you know what to do to avoid negative effects of using same land for same crops for several years, like changing seeds, you can go ahead to plant the same crops.

You may have to get information about the history of the soil to determine the kind of seed you will plant, and the understanding of the type of seed to plant is very important.

I wanted to buy tomato seeds sometimes ago to plant. I told them I wanted to plant in the dry season with irrigation, but because they didn’t have the seed I asked for and they wanted to sell what they had, they assured me that the seed is “doing very well”. I bought the seeds and I went to plant in late dry season, and when it started yielding, it was in early rainy season.

The tomatoes seed was actually big and very attractive, but it didn’t want too much of water. So, by the time I started harvesting, it was cracking and dripping water and I could not sell my tomatoes. It was planted on 20 acres of land.

The land can be cheap but if you don’t have the right and on-time information, especially with seeds and chemicals used on the land.

You need to know the type of chemicals they have been using on the farm and the insecticides.

If the insects or parasites are already building resistance to that particular insecticide, you may have to change it. If everybody is using a particular chemical, they will advise you to do same, but if you have information, you may decide to change so that you can get a better result. What I’m saying in essence is that the land maybe cheap, but it may not be cheap to get outstanding result on that farm land.

Don’t be among those that will read this article and rush in to later rush out. You need to get adequate information about what you want to farm that will help you get the maximum return for your investments that you desire.

You must also know that the way farming is done in the USA is different from the way it is done here in Nigeria. Even the way water melon is planted and harvested in the northern part of Nigerian is quite different from the way it is done in the southern part of Nigeria. Therefore, don’t treat cases that come up in the south the same way you would treat those in the North. If you do, there may be greater challenge.

Most of the land in the South-West can grow onion, cabbage, lettuce, etc. but the time at which you get the land ready for farming is also very important to factor in mind when planting these crops.

If you want to plant water melon and you are only able to get your land ready around august, if you plant that water melon in august, when it will be yielding and ready for harvest in October others will be planting. Except you have a ready market, you might fall into trouble of having so much products but not enough people to buy.

So you need information on how to go about a fruitful and productive farming business.

How secure are your crops on the land?

So far, none of my referrals or clients, that is more than 50 people, in the last 2years have reported any case of theft on these govt. lands, especially in the South-West. I know people who are presently farming as far as Shaki in Oyo state, very close to Kwara State, and some in Ekiti, but have not complained about their crops being stolen or destroyed.

Now, the way it works is that you can have 1, 000 farmers working on those lands. It could be 250, 000 acres all together, and there is this possibility that there would be at least 5-10 farmers working on those lands per day.

Come to think of it, stealing these products is not easy, you will need to come with a truck, hire harvesters, and you will need people that will carry the load for you because you need some level of expertise to harvest these crops. And because this is a community, people must talk to people to get to know each other.

Stealing may not be very easy unless it is organized by other farmers themselves, because there is a govt. security at the gate that leads to the river basins itself.

Those security guys must check you to ascertain that you belong to that community of farmers before you can have access. It is not something that will happen in 1hour. The structure of the farm makes it difficult for people to steal, people may pick one or two, at worst case 5 seeds in bags or okada, but it will be insignificant, and may not amount to being counted as lose in the farm.

The only loss that may arise may be some seeds that didn’t germinate well, or that get trampled on during planting, or those that get eaten up by pests. This loss may amount only to 5-10% in some cases in a farming year.

Then again, govt. is not even ready to ask you to leave, because they have a mandate to provide food and jobs for the people. The only reason you could be asked to leave the farm land is if you are not farming the way you are supposed to, or your farming is not fruitful or productive.

Can distance affect my coming and going to the farm regularly, knowing that I stay in Lagos and I am privilege to rent a land in Ogun or Osun state, are there shelters in these river basins where one can stay?

Now, if you are planting crop which is what I advocate people to start with and most of these crops you attend to them at least every 7days, some fortnightly, so you might not have to sleep over there.

However, if you need to sleep over, some of the river basins already have accommodation, either occupied or waiting to be renovated. Also, in all those locations there are places to rent, say, one room or two rooms. However, for something you want to do in 3months and move away, you may not need to rent a place.

Some farmers already living there may be willing to accommodate you for a night and you go the next day, if you have developed a good rapport with them. The assistance you will need is already there: the planters, the sprayers, the harvesters, and the farm supervisors. These are people from neighboring villages who have come to live there to survive. All that is needed of you is administrative work which may not warrant you even passing a night.

On the day you will plant or do a major work, all you have to do is plan to leave very early and come back in the evening. Unless you are doing a very massive project and you wish to see everything to the latter, you may not have to pass the night there.

If you are farming 16 plots, planting may not take more than 3hours with the right amount of man power. Talking about massive land, now nobody will allow you take more than one hectare, except you have demonstrated to them that you can manage huge plot of land from the way you have managed the smaller ones that have been given to you over the years.

Who can apply for these lands?

Anybody! Many of those who read the previous publication about this opportunity from SuccessDigest have gone there to access the land and they are now farming there. Sometimes when I get to these sites, the project managers will be telling me that people came for land; that they read about it from a publication. At a speaking engagement sometime ago, as I talked about the N2,500 per hectare farm land from the govt. a woman stood up to testify that she read it in SuccessDigest and went there and she has farmed water melon that sold well.

So, if you are really interested, you can dash in there this month of January. Because of the shift in the oil sector, individuals, the corporate sector, and governments are now turning to agriculture, which might make the lands to become scarce.

Insuring your farmland

Anybody going into agriculture now in any land must consider insuring the farm, it is called agricultural insurance, where you pay 2.5% of your production cost to agriculture Insurance Corporation and if anything happens, they will pay you for any damage. The standard rate is about 90% but at worst case you will get 70% when there so much claims, they will have to adjust.

It then means that you cannot lose completely. The only way you will not get anything from the insurance company is if you filled the form with wrong information. Say for instance, if by the time you applied you gave the information that XYZ was in your farm or that you had XYZ acres of land. If after the loss they investigated to ascertain the damage and found out that the report you gave is false, then, you have lost everything because by law they are no longer obligated to pay you.

The law says within 48hours of the incident you must contact them; so that they can have enough time to come and carry out their investigation before things get out of hand. To the best of my knowledge there has been no genuine claim that has not been resolved that I know of.

The insurance company is ever ready to pay. Because the Federal Govt. is contributing to the insurance scheme, the state govt. and the local govt. are also contributing to the insurance to ensure that damages are paid regularly and on time.

If you must get the best out of your land this year, this is the best time to insure that land because climate change and natural disaster can happen.

How often can I use this land?

It is at the prerogative of the project manager or the extension officer to decide how the lands are been used and rotated annually, because sometimes they do crop rotation, they decide how and where you should use per time, except you have earlier informed them based on the project you are working, which they are aware will require you to retain that particular land for another year. Otherwise, you will have to convince them with proves and facts why you need that same land again, if not you may not get the same land, but another one.

What strategy can one use to increase productivity in the farmland?

The productivity of the land can be improved with organic crop boosters, no matter how bad the soil is.

I advice that you get these organic crop boosters, there is this popular one most farmers use, called super grow, but over the years I have discovered that it is a case of a one eyed man leading a blind man. You know what can possibly happen to both of them.

People get half baked information and begin to use it to train others. Because the dosage for this crop boosters are not properly observed, when mixed with other chemicals as it ought to be, the crops are affected leaving the soil untouched. I know quite a few that when properly used will increase productivity from 40-70%.

Also, like I always say, the quality of your seed will determine the reward of your labour, and from my finding I have discovered that we have seeds that have no expiring date in the market. The ones that have expiring date may be near expiration date, and the marketer will re-bag, thinking that the customer/farmer will plant almost immediately.

And because nobody told the farmer he has to plant within month of buying the seed, he may still use the seed long after it has expired without knowing.

Some years ago I threw away seeds worth N135, 000 because I was not properly informed about the seed I just bought. So the source of your seeds is very crucial, I have also discover that if for any reason you buy a bad seed and you try to return it, by right they are supposed to give you another seed, but it doesn’t happen that way, at that point you are on your own. It is therefore important that a good relationship is observed between the farmer and seed sellers.

Again to increase productivity, plant the seeds twice. Don’t plant all your seeds at once.

Dokpesi and N2.1b Money For Media Publicity, Bail Denied, To Remain In EFCC Custody

Not guilty, was the response of Chief Raymond Dokpesi at the Federal High after the six counts charges read to him filed by EFCC.

The charges, FHC/ABJ/CR/380/2015 and filed by the Economic and Financial Crimes Commission (EFCC) indicated that Dokpesi is charged along with his company – Daar Holding and Investment Limited.

Charge 1. That you DR. RAYMOND DOKPESI and DAAR INVESTMENT AND HOLDING COMPANY LIMITED between October 2014 and 19th March, 2015 in Abuja, within the jurisdiction of this Honourable Court, conducted procurement fraud by means of fraudulent and corrupt act, to wit: receipt of payment into the account of Daar Investment and Holding Company Limited with First Bank of Nigeria Plc of public funds in the sum of N2,120,000,000 (Two Billion, One Hundred and Twenty Million Naira) from the account of the office of National Security Adviser with the Central Bank of Nigeria for the funding of media activities for the 2015 presidential election campaign for the Peoples Democratic Party (PDP) and you thereby committed an offence contrary to section 58 (4)(b) of the Public Procurement Act, 2007 and punishable under Section 58 (6) & (7) of the same Act.

Charge 2. That you DR. RAYMOND DOKPESI and DAAR INVESTMENT AND HOLDING COMPANY LIMITED between October 2014 and 19th March, 2015 in Abuja, within the jurisdiction of this Honourable Court entered into a purported contract on presidential media initiative and received payment in the sum of N2,120,000,000 (Two Billion, One Hundred and Twenty Million Naira) into the account of Daar Investment and Holding Company Limited with First Bank of Nigeria Plc from the account of the office of National Security Adviser with the Central Bank of Nigeria on account of the purported contract without a “Certificate of No Objection to Contract Award” duly issued by Public Procurement Bureau and you thereby committed an offence contrary to section 16 (1) (b), (4) & (5) of the Public Procurement Act, 2007 and punishable under Section 58 (6) of the same Act.

Charge 3. That you DR. RAYMOND DOKPESI and DAAR INVESTMENT AND HOLDING COMPANY LIMITED between October 2014 and 19th March, 2015 in Abuja, within the jurisdiction of this Honourable Court. entered into a purported contract on presidential media initiative and received payment in the sum of N2,120,000,000 (Two Billion, One Hundred and Twenty Million Naira) into the account of Daar Investment and Holding Company Limited with First Bank of Nigeria Plc from the account of the office of National Security Adviser with the Central Bank of Nigeria on account of the purported contract without any open competitive bidding for the said contract and you thereby committed an offence contrary to section 16 (1)(c) & (d) of the Public Procurement Act, 2007 and punishable under Section 58 (6) of the same Act.

Charge 4. That you DR. RAYMOND DOKPESI and DAAR INVESTMENT AND HOLDING COMPANY LIMITED between October 2014 and 19th March, 2015 in Abuja, within the jurisdiction of this Honourable Court submitted a purported proposal for the contract on presidential media initiative and received payment in the sum of N2,120,000,000 (Two Billion, One Hundred and Twenty Million Naira) into the account of Daar Investment and Holding Company Limited with First Bank of Nigeria Plc from the account of the office of National Security Adviser with the Central Bank of Nigeria on account of the purported cont1act without a written and comprehensive request to you by the Federal Government of Nigeria and you thereby committed an offence contrary to sections 45 (3) and 46 of the Public Procurement Act. 2007 and punishable under Section 58 (6) of the same Act.

Charge 5. That you DR. RAYMOND DOKPESI and DAAR INVESTMENT AND HOLDING COMPANY LIMITED between 22nd January, 2015 and 19th March, 2015 in Abuja within the jurisdiction of this Honourable Court, took control of the sum of N2,120,000, 000 (Two Billion, One Hundred and Twenty Million Naira) paid into the account of Daar Investment and Holding Company Limited with First Bank of Nigeria Plc from the account of the office of National Security Adviser with the Central Bank of Nigeria which sum you reasonably ought to have known was a proceed of an unlawful act to wit: fund obtained from corruption and you thereby committed an offence contrary to section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) & (4) of the same Act.

Charge 6. That you DR. RAYMOND DOKPESI and DAAR INVESTMENT AND HOLDING COMPANY LIMITED between 22nd January, 2015 and 19th March, 2015 in Abuja within the jurisdiction of this Honourable Court, knew that an aggregate sum of N2,120,000,000 (Two Billion, One Hundred and Twenty Million Naira) directly represented the proceeds of criminal conducts of COL. MOHAMMED SAMBO DASUKI (RTD.) and SHUAIBU SALISU who were National Security Adviser and the Director of Finance, Office of the National Security Adviser respectively (to wit: criminal breach of trust in respect of the said amount) used the said property and you thereby committed an offence punishable under Section 17 (b) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.

After all the drama today Thursday in court, presiding judge, Justice Kolawole adjourned the case to Monday, December 14.

The judge also ordered that the accused remain in the custody of the EFCC till the day of ruling.

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Tuesday March 30, 2010

UK Final GDP q/q BUY 0.6% SELL 0.0% GBP/USD

We'll be focusing on the Final GDP q/q from UK, which is also known as the 3rd release for the quarterly GDP of Q4 2009; GDP is defined as "the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time." GDP is the basically the indicator of the economy, and a stronger GDP means that the central bank will more likely raise interest rate as better economy usually brings higher inflationary pressure.

Since this is the third release of the 4th quarter GDP, we're not likely to get any surprise as most 3rd releases are pretty much inline. However, looking at current market condition and the possible risk appetite sentiment surrounding this week's releases, we could see some volatility or even a trading opportunity should this release surprise the market even by 0.1%. therefore we'll wait for the release and look for a possible retracement trade.

Our surprise factor is 0.3% as we'll look to possibly SELL GBP/USD at 0.0% or worse, and BUY GBP/USD at 0.6% or better. Historically, there is a 80% of chance if our S. Factor is hit, the market will move up to 50

70 pips within the hour as GDP is a very high impact report, even if it's the 3rd or Final GDP release.

AU Retail Sales BUY 0.9% SELL -0.3% AUD/USD

We'll be looking for a possible trade on the Australian Retail Sales m/m release and we are looking for a minimum deviation of 0.6% from the forecast release of 0.3%. If we get a 0.9% (or better) or -0.3% (or worse), we'd get in either on a LONG or SHORT trade depending on the release with a high probability of seeing the market move over 50 pips in the next 2 hours.

With RBA Governor's recent bullish comments over future monetary policy, AUD is likely to remain in high demand for the time being and a positive release should help AUD/USD test recent highs, if not making a break above the range that it has been trading for the past 6 months.

"Measures the value of sales at the retail level. A rising trend has a positive effect on the nation's currency because Retail Sales make up a large portion of consumer spending, which is a major driver of the economy and has a sizable impact on GDP. Traders payclose attention to Retail Sales because it is usually the first significant indicator of the month that relates to consumer behavior and is susceptible to surprises."

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Wednesday October 14, 2009

US Core Retail Sales BUY 1.0% SELL -0.3% USD/JPY

We have both retail sales (healine and core, also know as ex auto) coming out at 8:30am, It is important to make sure there is no conflict with the numbers between the them in order for us to get into a trade. Usually the Core release is more accurate reflection of the activities at the retail level because it excludes the volatile Automotive components, which could be influenced by the recent governmental incentives, or just seasonal factors; therefore the headline Retail Sales should be different from the Core reading, and hopefully in the same direction. As the Headline number is expected at -2.0% (E), with a previous release of 2.7%. Our focus will be not so much to vast difference of the estimated releases of these numbers, but the deviation from their respective estimate to the actual release figures.

As we could probably expect the market to react based on risk sentiment, therefore I may have to focus on other pairs such as the EUR/JPY or GBP/JPY for best results, using USD/JPY as a gauge. (USD/JPY up for risk appetite and USD/JPU down for risk aversion)

"(Retail Sales Core) Derivative of Retail Sales that excludes the Automobile Sales component. Automobile Sales make up roughly 25% of Retail Sales, but they can be very volatile from month to month and can distort the picture. Retail Sales with the exclusion of this volatile component is thought to be a better indicator of the underlying trend in consumer spending."

NZ CPI q/q BUY 1.1% SELL 0.5% NZD/USD

Our focus will be on the headline CPI number. If we get a better than expected number of 0.8% by 0.3%, we should be looking to BUY NZD/USD; if we get a lower than 0.5%, then we'll see NZD/USD move down.

With recent RBA (Reserve Bank of Australia) unexpected rate hike, RBNZ (Reserve Bank of New Zealand) is widely expected to hike interest rates next, as both economies are closely correlated. As this release will undoubtedly push that speculation to a new level since it would give RBNZ Governor Bollard justification to hike rates. However, if the 3rd quarter CPI turned out to be less than expectation, we could see a possible switch of sentiment on RBNZ hiking rates in the next few meetings, thus add more downward pressure to the NZD than this release would normally do. In other words, expect a more exggerated response from the market. and to top it off, this release is scheduled at the unholy hours of U. S. evening prior to NIKKEI open, therefore expect to see low liquidity along with this release.

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Thursday October 8, 2009

UK BOE Rate Decision N/A

BOE's MPC is scheduled to release interest rate decision today, and it's expected that Bank of England will keep the current rate at 0.50% (again). If you remember last rate decision, BOE kept both interest rate and APF unchanged, which turned out to be a bullish signal for the sterling.

One interesting observation is the MPC meeting minutes of the last rate decision meeting, which came out at an unanimous vote count of keeping both rate and APF unchanged. Seems like the dissenters have decided on a wait and see policy. This is of course, a rather bullish signal for the Sterling.

Today's rate decision will once again hinged upon the APF program. If BOE were to increase it once again, it would surprise the market and we could see immediate Sterling weakness. However, on an unchanged verdict, market may not necessarily take that as a positive sign. Therefore, regardless of the rate decision, we could see some weakness in the Sterling prior to the release.

As usual, I'll be trading this news live and post the results back here. If everything is as expected, we could see very little market reaction, and therefore it could be a no trade.

ECB Rate Decision N/A

ECB (European Central Bank) will most likely leave rates at an unchanged level of 1.00% once again. It is almost impossible for ECB to surprise the market at this point and cut or hike current rate by 0.25%. Numerous of ECB officials, including chairman Trichet, stated recently that the current rate is appropriate, the expectation for ECB rates among analysts is pretty much neutral.

Furthermore ECB is still concerned over the imbalanced economic recovery over its member countries, therefore there would be no justification for a rate hike, even though RBA surprised the market by hiking rates, ECB is not likely to follow suit.

And of course, based on past track records, ECB is not in the habit of surprising the market, therefore not much market reactions usually follow this release.

The important event will be the press conference at 8:30am, or 45 minutes after this release. ECB Chairman Trichet will deliver a written statement and then host a lengthy Q&A session. Market is more likely to be extreme volatile during the press conference than the actual rate decision, as Trichet sometimes may drop hints on future ECB monetary policy direction; therefore, I'd pretty much skip this news and just pay attention to the press conference itself as usual.

Trichet Press Conference

Trichet will once again deliver a statement along with a Long and boring Q&A session afterwards. This press conference is usually very volatile and the market is always listening to Trichet's tone for future ECB policies. If Trichet is hawkish, then we will see EURO gain, if Trichet is dovish, then we will see EURO lose against all other currencies.

Fair Warning: If you have never traded this release, it is better to stay out of the market. Wait until around 9:30am

10:00am NY Equity open, then follow the trend. If Trichet is hawkish or being optimistic, then EUR/USD will gain throughout the session and may even carry over to Friday. Therefore there are plenty of opportunities to trade after the market has already established itself.

This Press Conference is usually done in 2 parts, the first part is a written statement which various newswire services will release headlines immediately at 8:30am, then Trichet will read through the statement; 2nd part of the press conference is a Question and Answer session where Trichet will take questions live from onsite media members. This part is highly unpredictable as Trichet may hint the market and drive prices intentionally. As I once heard from someone who knows Trichet personally, that there is never a slip-of-tongue with Trichet, he does everything intentionally.

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N2.32tn NLNG dividend not remitted to Federation Account – NEITI

03 August 2015, Abuja – The Nigeria Extractive Industries Transparency Initiative on Sunday said the Nigeria Liquefied and Natural Gas Company had not remitted about $11.6bn (N2.32tn) to the Federation Account.

Zainab Ahmed, Executive Secretary, NEITI

NEITI also revealed that the country lost N220bn to crude oil swap deals, adding that over N4.8tn had been spent by the Federal Government on fuel subsidy.

The Executive Secretary, NEITI, Mrs. Zainab Ahmed, disclosed these when she led a delegation of the agency’s management team on a courtesy visit to the Governor of Kaduna State, Mallam Nasir el-Rufai, according to a statement made available to our correspondent.

Ahmed, while soliciting the support of the governor towards the implementation of the findings and recommendations contained in NEITI audit reports, said issues thrown up in the reports had remained unimplemented and described the development as “an unfortunate recurring decimal.”

She said that data from NEITI audit reports showed that Nigeria lost about 160 million barrels of crude oil valued at $13.7bn to crude oil theft between 2009 and 2012.

The records, she said, was obtained from three international oil companies, namely: Shell Production and Development Company, Nigerian Agip Oil Company and Chevron Nigeria Limited.

Explaining that over N4.8tn had been expended by the Federal Government on subsidy payments alone, Ahmed called for a gradual phasing out of the subsidy scheme.

She said the scheme, which was designed to benefit the ordinary Nigerian, had become a drain pipe on government revenue by few privileged individuals through all forms of manipulations and corrupt practices.

The executive secretary informed the governor that between 2009 and 2012, Nigeria lost about $1.1bn to crude oil and product swap, while the NLNG dividends to the tune of $11.6bn had yet to be remitted to the Federation Account.

Ahmed further said that from the NEITI 2012 report, Nigeria spent over $7bn on Joint Venture Cash Calls with international oil companies.

She conveyed NEITI’s position that the Federal Government should divest its shares in the JVs, incorporate the JVs and/or transit them to other types of operating arrangements like the Production Sharing Contracts.

Ahmed joined the calls for the unbundling of the Nigerian National Petroleum Corporation and commercialisation of the new sub business units to free the corporation from regulatory functions.

On NEITI’s recent audit that examined how states disbursed and used revenues accruing to them from their share of the Federation Account, the executive secretary said what the agency found was that most states in the country had over the years depended on oil revenues and did little or nothing to generate revenues internally.

She said, “The country and the states are over reliant on oil revenues. They have neglected the huge potential abundant within. Some states have as little as three per cent internally generated revenue, carry a huge recurrent expenditure and deploy very little to capital and social services like education, health care and security.

“What we saw from the report of the nine of the states sampled is shocking”.

Ahmed urged el-Rufai to study the report for the benefit of Kaduna State.

She observed that the NEITI audit reports of the oil and gas sector from 1999 to 2012, the fiscal allocation and statutory disbursement audit findings and recommendations covering years 2007 to 2011, and the solid minerals sector audit that spanned years 2007 to 2012 contained a wealth of information that further informed the need for urgent and speedy reforms of the extractive sector in Nigeria.

El-Rufai, who is a member of the National Economic Council, pledged his support and commitment to the Extractive Industries Transparency Initiative process in Nigeria as a global response to fight the resource curse.

He was quoted as saying, “NEITI has remained one of the few institutions of government set up for reforms that is still working because the organisation, by its unique composition, was designed to succeed. We will study the reports and work with NEITI to reform our oil, gas and mining sectors.”

The governor noted that as a member of the team set up by the NEC to probe the inflows and outflows from the Federation Account, the NEITI reports would be a reliable working document for the committee.

He promised that all “unremitted funds arising from under payments, under assessments and other malpractices uncovered by NEITI in its reports will be recovered and used to improve the country’s infrastructure and living standards of the people.”

Court Orders Service of Criminal Charge on Bank, 16 Others over N2.6bn Fraud

A Federal High Court in Lagos wednesday fixed April 11 for service of a criminal charge on 15 accused and two companies charged with N2.6 billion fraud.

The accused are: Nigeria International Bank Ltd, Chief C. S Sankey, Emeka Emuwa, Adekunle Oladosun, Okechi Egwu, Lulu Ndubuka, Oyowole Ariyo. UKabiru Bello, and J. E Eriagbon, Others are: Samson Ebie, Steve Obodomechine, Mikky Dons Nig. Ltd, Mark Anaele, Peter Harris, Peter Oriade, Olusola Fagbure and Obianwa Chuba.

They are charged on 20 counts bordering on conspiracy, intent to defraud, falsification of document, fraudulent alteration and diversion of over N2. 6 billion belonging to MicMerah International Agency Limited.

The case which was fixed for arraignment of the accused, was again stalled at the resumed date due to the absence of the accused in court.

When the case was called, only the first accused represented by its staff was present in court. The prosecutor, Mr. Gordy Uche (SAN), then informed the court that the prosecution was still faced with difficulty in effecting service of the charge on the accused.

He, therefore, informed the court of an ex-parte application, seeking leave of court to allow the complainant effect service of the charge on the accused.

Justice Ibrahim Buba granted the application and adjourned the suit to April 11 for continuation.

In the charge, the accused were alleged to have conspired to induce MicMerah International Agency Ltd, to deliver the said sum to them, to be used for offsetting a fraudulent import finance facility scheme.

They were also alleged to have falsified documents to fraudulently secure the release of four Volvo luxury buses and two 40 feet containers from the Nigeria Custom Service. Besides, the accused were also charged for obtaining property by false pretence, as well as corruptly enriching themselves.

The offence was said to have contravened the provisions of sections 1(1) (a),1(3), and 8 (a), of the Advanced Fee Fraud and Other Related offence Act, 2004.

The offence also contravened the provisions of sections 161, and 162 of the Custom and Excise Management Act, Section 516 of the Criminal Code Act, 2004 as well as sections 2, 2(1) and 10 (1) of the Recovery of Public Property Act, 2004.

Forex

SEGÚN SU ACTIVIDAD.

PRIMARIAS (agricultura, ganadería, pesca. etc): se dedican a la obtención de recursos directamente de la naturaleza. Son las empresas agropecuarias, sector pesquero e industrias o empresas extractivas (minerales).

SECUNDARIAS . consiste en la transformación de materias primas para elaborar un producto más útil para el consumo. Son por ejemplo refinerías (forman el petróleo), fábricas de coches, metalurgia, fábricas de conserva. Etc.

TERCIARIAS . se dedican a la distribución y venta de un producto ya terminado, así como el conjunto de servicios. Son ejemplos, la gasolinera, seguros, hoteles, ocio, restaurantes. Etc.

SEGÚN SU NATURALEZA JURÍDICA.

INDIVIDUALES : pertenecen a una sóla persona física y responden a las deudas con todo su patrimonio.

SOCIALES (o sociedades) . la propiedad corresponde a una persona jurídica o conjunto de personas que adquieren la condición de socio.

Sociedad colectiva . se caracteriza porque los socios asumen una responsabilidad solidaria e ilimitada.

Sociedades comanditarias . además de tener socios colectivos, cuentan con un conjunto de socios que aportan un capital y su responsabilidad se limita al capital aportado.

Sociedad limitada . la responsabilidad de los socios se limita al capital aportado. El volumen total de dicho capital se divide en partes alícuotas. No se pueden negociar sin el consentimiento del resto de los socios.

Sociedad anónima . el capital está formado por partes alícuotas denominadas acciones que son valores negociables, y que el socio es el propietario de la acción en cada momento.

Sociedades laborales . son aquellas en las que los trabajadores son los dueños de la propia empresa. Su responsabilidad se limita al capital aportado y ninguno puede tener más del 25% (para evitar que ningún trabajador sea jefe).

Cooperativa . supone la agrupación de pequeños empresarios con el objetivo de hacerse más fuerte en el mercado. Comparten por igual riesgos y beneficios.

La empresa tenemos que entenderla como una asociación de voluntades con ánimo de lucro, es decir, ganar un beneficio económico en un mercado.

El mercado es el lugar de intercambio de bienes y servicios que no tiene por qué ser un lugar físico (la bolsa de Madrid), en los cuales se establece un precio como resultado del acuerdo entre la oferta y la demanda.

La empresa además tiene la función de crear o aumentar la utilidad de los bienes con el objeto de obtener el máximo beneficio, aprovechando que su actividad económica se basa en producir bienes y servicios que satisfagan nuestras necesidades.

Las empresas utilizan una combinación de factores productivos para producir dichos bienes o servicios (Fact. Product. mano de obra, materia y maquinaria). Estos son:

Factor productivo tierra . son los recursos que proporciona la naturaleza (materias primas).

Factor productivo trabajo . supone el esfuerzo humano aplicado a la producción ya sea física o mental.

Factor productivo capital . es la parte de riqueza que se dedica a la transformación (maquinaria, herramientas, mobiliario. etc).

La empresa se mueve dentro de un entorno que está compuesta por un conjunto de elementos que son: los clientes (o consumidores), competencia (como coca-cola y pepsi), el nivel económico , los proveedores (los que nos traen las mercancías a las empresas), las administraciones públicas.

Los clientes como destinatarios del producto o servicio que estamos fabricando para cubrir sus necesidades o creándoselas.

La competencia . formado por el conjunto de empresas que luchan por una cuota de mercado que te puede quitar clientela o generártela.

El nivel económico . la capacidad de consumo de la población también determina las posibilidades reales de la empresa.

Los proveedores . son el conjunto de empresas que te facilitan la mercancía y las materias primas para producir; sobre los que puedes someter cierta presión cuando existe competencia en el producto que te suministran, o cuando la empresa proveedora tiene un gran poder, ocurre lo contrario.

Las administraciones públicas . son las que establecen un marco normativo para poder desarrollar tu actividad (desde los impuestos hasta la normativa e interior de calidad).

La empresa se caracteriza por ser un conjunto de funciones que tienen la obligación de estar coordinadas y que trabajan con un único objetivo, producir un bien o un servicio ganando el máximo dinero. Las funciones más importantes son:

Función técnica . consiste en el mantenimiento del proceso productivo con equipos e instalaciones adecuadas, que reduzcan los costes.

Función financiera . consiste en la obtención de recursos económicos para el funcionamiento o la inversión.

Función contable . supone el registro de todas las operaciones con carácter económico.

Función comercial . consiste en la promoción del producto o servicios a nuevos mercados.

Función social . engloba las actividades propias del departamento de RR. HH. Estas actividades son:

Formación y reciclaje de los trabajadores;

Despidos y conflictos;

Gestión de bajas médicas;

Gestión económica y pago de salarios.

CASOS ESPECIALES DE CONTRATO A TIEMPO PARCIAL

Contrato de Relevo . Para sustituir a un trabajador que se jubila parcialmente

Su duración es indefinida o bien la que le falte al sustituido para alcanzar la edad ordinaria de jubilación

Jornada completa o a tiempo parcial pero por lo menos igual a la reducción de la jornada de trabajador sustituido

Realizar trabajos discontinuos que no se repiten en ciertas fechas dentro del volumen normal de la empresa

Tiempo Parcial o Jornada Completa

Contrato en Prácticas . Titulados salvo Bachillerato y ESO, para obtener práctica profesional

Debe estar celebrado en los cuatro años posteriores a obtener el titulo

Dura desde 6 meses hasta 2 años y se prorroga en plazos de 6 meses

El periodo de prueba para titulados superiores es de 1 mes y de grado superior maximo

El salario es de 60% 1º año. 75% 2º

Es escrito, Jornada completa o parcial al terminar se entrega certificado de prácticas sin hacer valoraciones

Contrato para la formación . Mayores de 16 y menores de 21 sin titulación, tb si tienen eso y bachillerato, no se aplica limite de edad si son desempleados minusvalidos, desempleados de más de 3 años sin actividad laboral

Duracion como las prácticas

Salario establecido en CC o en defecto SMI

El 15% de la jornada será para formación teórica, carece de desempleo y se entrega certificado de empresa

CONTRATOS CON TRABAJADORES MINUSVALIDOS

Contrato temporal de fomento de empleo: para fomentar a los trabajadores minusválidos, la contratación se efectúa a través de la oficina de empleo

Se hace por escrito y en modelo oficial con duración máxima de 3 años. Como bonificación proporciona una reducción del 75 % de la cuota del empresarias C. C Reducción del 100% si es el primer trabajador contratado desde 01/01/1999

Contrato Indefinido . Otorga una bonificación de la cuota empresarial de la ss del 70% para los trabajadores de 45 años a jornada completa. Reducción del 90 % para los mayores de 45 a jornada completa

Ordinario . es de duración indefinida, verbal o escrito, jornada completa o parcial. Se comunica al INEM en el plazo de 10 de celebración

Fomento de la contratación indefinida . trabajadores desempleados inscritos en el INEM que sean; mujeres para realizar trabajos con menor índice femenino de empleo, o mayores de 45 años o parados inscritos 6 meses ininterrumpidos en INEM, o minusválidos. O si se transforma un contrato temporal en indefinido.

La indemnización en caso de despido improcedente es de 33 dias al año maximo 24 meses.

No se puede celebrar este contrato cuando en los seis meses anteriores se hayan efectuado despidos por causas objetivas declarados improcedentes o un despido colectivo

Hay bonificaciones en cuota empresarial ss y otras ayudas

CONTRATO A TIEMPO PARCIAL

Se contrata para realizar trabajos durante un número de horas determinadas al día, semana, mes… inferior a la jornada de trabajo a tiempo completo.

Puede ser indefinido o de duración determinada caben todo tipo de contratos menos para la formación.

En estos contratos no se pueden realizar horas extras excepto en causas urgentes. Tb cuando se pactan en los contratos de duración indefinida pero no pueden exceder del 15% de horas extraordinarias el cc puede variarlas en un 60 %. Se pagan como horas ordinarias

CONTRATOS DE DURACIÓN DETERMINADA

Contrato de Obra o Servicio Determinada . la duración es incierta, el contrato es escrito y debe explicar con claridad y precisión la obra o servicio que constituye el objeto al terminar el cto indemnización de 8 días al año

Contrato Eventual por circunstancias de la producción . dura 6 meses en periodos 12 meses puede ampliar a 18 meses pero nunca superando las ¾ partes sin superar los 12 meses. Debe ser escrito si es superior a 4 semanas o de jornada parcial la indemnización es d 8 dias año

Escrito y señalando la persona que se sustituye y la causa de la sustitución. Indicando si el puesto de trabajo a desempeñar será el sustituido o el otro trabajador de la empresa que pase a desempeñar el de aquel.

Como la que debe cubrir

Bonificacion si se sustituye a una embarazada por riesgo o descanso maternidad 100%

Es frecuente que los acreedores de una operación comercial en la que se utiliza el crédito acudan a intermediarios financieros con la intención de percibir los cobros pendientes antes del vencimiento de los mismos. Esta operación recibe el nombre de descuento y por ella los intermediarios financieros suelen cobrar una cantidad que se calcula aplicando la ley de capitalización simple, ya que son operaciones inferiores al año. Además se suelen añadir otra serie de cobros, tales como comisiones, gastos de correo, etc. Por tanto, la cantidad que percibe el acreedor que ha acudido al descuento no es la que recibiría si esperara hasta el vencimiento, sino dicha cantidad menos el descuento y los demás gastos

Matemáticamente, se entiende por descuento simple la operación financiera que consiste en la sustitución de un capital futuro por otro con vencimiento presente, siendo además una operación inversa a la capitalización simple.

Co: Efectivo o cantidad adelantada

Cn: Nominal o importe total del cobro que se adelanta.

D: Descuento o diferencia entre el nominal y el efectivo.

En la práctica, el denominado descuento comercial (Dc) es el criterio usado normalmente para el cálculo.

Al tanto o tipo que se utilice en estas operaciones lo denominaremos tanto de descuento.

2. EL DESCUENTO COMERCIAL

El descuento comercial es aquel cuyo cálculo se realiza a partir del nominal (Cn) de la operación y aplicando la fórmula para el calculo de intereses.

CÁLCULOS POSIBLES

A partir de la formula anterior y despejando cada uno de sus componentes, se obtendrían las siguientes expresiones:

Cálculo del efectivo en función del nominal

A partir de Dc = Cn - Co y despejando Co resulta:

Poniendo el valor del descuento en función del nominal:

y sacando factor común:

Cálculo del nominal en función del efectivo

Despejando Cn de la expresión: Co = Cn (1 - n. i)

Calculo del descuento en función del efectivo.

y sustituyendo Cn por su valor en fusión del efectivo:

Dc = __Co__ - Co

Dc = __Co - Co (1 - n. i)_ = __Co - Co + Co. n. i_

El descuento bancario es un contrato de préstamo o crédito por el que una entidad financiera entrega el importe de una letra no vencida, previa deducción de los descuentos (intereses) y comisiones correspondientes, recibiendo la letra (endoso) para su cobro en el momento del vencimiento.

Valor líquido = ∑Cn - ∑Dc - ∑Comisiones - ∑Gastos

Comisiones y otros gastos

Las comisiones cobradas por los bancos no son fijas, dependen de las diferentes entidades y de cada cliente en particular; no obstante, las más habituales son el 4‰ en caso de letras aceptadas, y el 7‰ en las aceptadas. Ambas cantidades se aplican siempre sobre el nominal del efecto. En el caso de que los porcentajes no alcancen un mínimo por letra, es usual aplicar una cantidad mínima.

3. EL DESCUENTO RACIONAL O MATEMÁTICO

El descuento racional (Dr) es aquel cuyo cálculo se utiliza el valor efectivo (Co), por lo que:

Calculo del descuento en función del nominal (Cn)

En la realidad comercial, las operaciones financieras se ajustan conociendo un nominal con una fecha determinada de vencimiento, por lo que el valor efectivo se desconoce. Por tanto, si:

Co = Cn - Dr y Dr = Co. n. i

Dr = Cn. norte. i - Dr. n. i

Dr + Dr. n. i = Cn. norte. i

Dr (1+ n. i) = Cn. norte. i

Calculo del valor nominal en función del descuento

Despejando Cn de la expresión anterior se obtiene:

Calculo del efectivo en función del nominal

Sustituyendo Dr, por su valor en función del nominal en la expresión:

4. RELACIÓN ENTRE EL DESCUENTO COMERCIAL Y EL RACIONAL. COMPARACIÓN

Dr = Co. n. i y Dc = Cn. norte. i,

es evidente que Dc > Dr, pues ambas expresiones tienen los mismos multiplicandos excepto Cn y Co, y como

el resultado de Dc, para unos mismos valores, será mayor que el de Dr.

Los descuentos comercial y racional se pueden relacionar entre sí mediante tres métodos diferentes: diferencia, producto y cociente.

La diferencia entre el Dc y el Dr es el descuento comercial del descuento racional, así mismo la diferencia entre Dc y Dr es el descuento racional del descuento comercial.

Dc - Dr = Dr. n. i Dc. Dr = Cn. norte. yo. Dr Dc. Dr = Cn (Dc - Dr)

Recibe el nombre de capitalización simple la ley financiera según la cuela los intereses de cada periodo de capitalización no se agregan al capital inicial para hallar los intereses del periodo siguiente, sino que se calculan siempre sobre el capital inicial (Co).

Co: Capital inicial

n: El tiempo que dura la O. F. en años

i: Tipo de interés anual en tanto por 1, que representa la cantidad de dinero que se obtiene en euros invertido en un año.

I: Interés de un año (Co. i)

It: Interés total, siendo su valor la suma de los intereses de cada periodo.

Cn: Capital final o montante, que es la suma del capital inicial y los intereses totales.

Para calcular el capital final Cn vamos a partir de que conocemos el valor de Co, de n y de i y sabiendo que It = Co. i y que Cn = Co + It y combinándolas obtenemos:

Cn = Co + Co. n.i =>

A la expresión 1 + n. i se les llama factor de capitalización para la capitalización simple porque sirve para trasladar capitales de un momento dado a otro posterior.

Representa el capital final o montante que obtendríamos al invertir una unidad monetaria a un tanto unitario de interés simple anual i durante n periodos anuales.

CALCULO DEL CAPITAL INICIAL O VALOR ACTUAL

Si en una operación financiera conocemos el valor de Cn, de n y de i obtendríamos el valor de Co por medio de la siguiente expresión:

n Cn = Co. (1 + n. i) =>

A la expresión = (1 + n. i) se le denomina factor de actualización para la capitalización simple y sirve para trasladar capitales de un memento dado a otro anterior.

Representa el capital inicial de una inversión realizada a un tanto de interés unitario anual i durante n periodos anuales, cuyo capital final o montante ascendió a una unidad monetaria.

CALCULO DEL TIPO DE INTERÉS (i)

Si conocemos el valor de Co, Cn y n en una operación financiera, podemos obtener el valor de i despejando de la siguiente expresión:

Cn i => Cn = Co (1 + n. i) => Cn = Co + Co. n.i =>

I => Cn - Co = Co. n.i => = i =>

CALCULO DEL TIEMPO (n)

Si conocemos el valor de Cn, Co y i en una operación financiera, podemos obtener el valor de n despejando de la siguiente expresión:

Cn n => Cn = Co (1 + n. i) => Cn = Co + Co. n.i =>

I => Cn - Co = Co. n.i =>

CALCULO DE LOS INTERESES TOTALES

Si conocemos en una inversión el valor de Co y Cn podremos obtener el interés total por medio de la siguiente expresión.

2. RELACION ENTRE EL TIEMPO Y EL TIPO DE INTERÉS

En las formulas planteadas hasta el momento, el tipo de interés y el tiempo han de estar referidas a periodos homogéneos; así, si se habla de meses, el tiempo vendrá medido en meses y el tipo será mensual. Lo normal es que el tiempo se mida en meses, días, etc. Y que el tipo de interés siempre se de en un tanto anual. En este caso se habrá de transformar el tiempo a la unidad del tanto o buen el tipo a la unidad del tiempo: una vez realizada esta transformación podremos utilizar las formulas planteadas.

TANTO EQUIVALENTE TANTO PROPORCIONAL

Dos tanto son equivalentes cuando aplicados a un mismo capital durante el mismo tiempo producen el mismo montante.

RELACION ENTRE EL TIPO DE INTERES ANUAL Y EL DE UN PERIODO FRACCIONADO.

Para establecer esta relación partiremos de:

i: Tanto de interés anual

i: Tanto de interés fraccionado

m: Frecuencia de fraccionamiento

Co (1 + n. i) = Co (1+ n. m. i)

Para darle valor a m habrá que preguntarse ¿ Cuantas unidades de tiempo pequeñas se contienen en la unidad de tiempo mayor?

El tanto fraccionado ( i) es un tanto proporcional al i anual por lo que se puede afirmar que los tantos proporcionales en la capitalización simple son también equivalentes.

m (Frecuencia de fraccionamiento del año)

EL AÑO COMERCIAL Y EL AÑO CIVIL

El año comercial es el que tiene exclusivamente una utilidad comercial. Su uso ha facilitado el cálculo en operaciones financieras con consecuencia de tomar meses de 30 días.

Al existir el año civil y el comercial el problema que se plantea es de hacer los cálculos siguiendo uno u otros caminos los intereses varían mostrando una diferencia.

Si llamamos I a los intereses obtenidos aplicando el año civil o natural e I a los intereses obtenidos aplicando el año comercial resulta:

It = Co. n.i => I= Co. i .

3. METODOS ABREVIADOS PARA EL CÁLCULO DE LOS INTERESES

Cuando tratamos de obtener el interés total generado por varios capitales distintos con vencimientos distintos e igual tipo de interés es normal utilizar formulas abreviadas para facilitar el calculo.

Dados varios capitales C1, C2, C3……….Ch que vencen en los momentos n1, n2, n3………….nh valorados a un tanto de interés anual i generarán un It igual a:

C1, C2, C3……….Ch

n1, n2, n3………. nh

Sacando factor común

It =. ( C1.n1 + C2.n2 + C3.n3 + ……… Ch. nh)

Sabiendo que se le denomina divisor fijo (D). D =

It =. ( C1.n1 + C2.n2 + C3.n3 + ……… Ch. nh)

A los productos de capital por tiempo “C. n” se les denomina número comerciales.

4. INTERESES ANTICIPADOS

En algunas operaciones financieras el prestamista cobra los intereses por adelantado, es decir en el momento en que tiene lugar la operación que a de producirlos. Para ello aplica un tipo de interés ia sobre el capital final Cn (nominal) para obtener el efectivo (Co) de la operación.

El interés por anticipado se calcularía mediante la siguiente expresión.

RELACION ENTRE EL TIPO DE INTERÉS POR ANTICIPADO Y EL TIPO POR VENCIDO

Para plantear dicha operación debemos suponer que el interés total obtenido por vencido sea igual al interés total obtenido por anticipado.

It (por vencido) = It (por anticipado)

Ya sabemos que It = Cn - Co y que por tanto si despejamos Co; Co = Cn - It.

Si sustituimos It en dicha operación, por anticipado tendríamos:

Co = Cn - Co. ia. n

Aplicando la igualdad entre los intereses por vencidos y los intereses por anticipado obtendríamos:

It(v) = It(a) => Co. n. i = C. n. ia

(Cn - Cn. ia. n) i. n = Cn. norte. ia =>

Cn (1 - ia. n) i = Cn. ia =>

(1 - ia. n). i = ia =>

ia = i - ia. norte. i =>

i = ia + ia. norte. i =>

La gestión de los recursos económicos y su mejor aplicación es el objetivo de una buena gestión financiera.

Se entiende por financiación el conjunto de recursos económicos que utiliza una empresa o familia. En este sentido podemos distinguir dos tipos de financiación:

Financiación interna o autofinanciación: viene generada por las propias posibilidades de la unidad económica. Ejemplo: retención de los beneficios, rentas. etc.…

Financiación externa: comprende los recursos captados fuera de la unidad económica, tanto por cuenta de capital, que comprendería las aportaciones de los empresarios o socios a la empresa, como mediante las aportaciones de terceros (prestamos), que es preciso devolver con sus correspondientes intereses en el tiempo pactado.

Cuando las unidades económicas cuentan con unas fuentes de financiación internas o ingresos suficientes para cubrir sus gastos, nos encontramos con lo que llamamos equilibrio presupuestario.

Pero en la mayor parte de las ocasiones este equilibrio no se produce, bien porque los ingresos son superiores a los gastos (superávit), generando los que conocemos con el nombre de ahorro, o bien porque los gastos son superiores a los ingresos (déficit), necesitando los agentes económicos la financiación externa.

La buena gestión financiera se necesita cuando las unidades económicas no tienen desequilibrio presupuestario. Para lograr la mayor rentabilidad de sus ahorros o el menor coste de sus prestamos.

2. CONCEPTO DE OPERACIÓN FINANCIERA

Entendemos por operación financiera toda opción encaminada a la sustitución en un momento determinado de uno o varios capitales por otro u otros equivalentes en diferentes momentos, aplicando una determinada ley financiera.

La ley financiera es el conjunto de reglas concretas de cálculo. A una operación financiera se aplica la ley financiera de capitalización simple o la ley financiera de capitalización compuesta.

En el cálculo de una operación financiera influyen siempre una serie de datos previos que son:

El tiempo . que vamos a representar con “n”.

El tipo de interés . que es el rendimiento de una operación financiera expresado en porcentaje y que representaremos con “i” cuando venga expresado en tanto por 1.

El criterio de cálculo del interés . incluyendo la ley financiera aplicada al capital inicial.

Por tanto se puede afirmar que el valor de un capital dependerá de:

El momento de valoración del mismo

El tipo de interés aplicado en la operación

La ley financiera que se use

El valor que tiene el capital en el momento presente se denomina valor actual . y el que tiene cuando se aplaza su vencimiento se denomina valor final .

El capital valorado en el momento actual recibe el nombre de capital inicial . y el capital valorado en su vencimiento final se denomina capital final o montante.

3. ELEMENTO DE UNA OPERACIÓN FINANCIERA

En toda operación financiera debemos tener en cuenta los siguientes elementos:

Origen de la operación financiera: es el momento de disponibilidad en el tiempo del primer capital.

Fin de la operación financiera: es el momento que coincide con el vencimiento del último capital.

Duración de la operación financiera: es el periodo de tiempo comprendido entre el final y el original de la operación financiera.

Acreedor de la operación financiera . es la persona que presta el capital (prestamista), es decir el que hace la prestación.

Deudor de la operación financiera: es la persona que recibe el capital (prestatario) y realiza la contraprestación para liquidar la operación financiera.

Acuerdo de las partes: normalmente toma forma de contrato.

Ley financiera: es la formulación matemática que aceptan las partes contratantes y que sirven para calcular la contraprestación.

4. CLASIFICACION DE LAS OPERACIONES FINANCIERAS

Se clasifican atendiendo a diferentes criterios:

Dependiendo de la corteza de la cuantía del vencimiento.

Operaciones financieras ciertas: son aquellas en las que tanto la cuantía del capital como el vencimiento están determinados desde el principio.

Operaciones financieras aleatorias: son aquellas en que tanto la cantidad como el vencimiento son aleatorios y por tanto no están determinados de antemano.

Dependiendo de la duración de la operación:

Operaciones financieras a corto plazo: son las operaciones financieras inferior o igual a un año. Se le suele aplicar la ley de capitalización simple.

Operaciones financieras a largo plazo: son aquellas operaciones financieras que exceden al año. Se suele aplicar a este tipo de operación la ley financiera de capitalización compuesta.

Dependiendo de la distribución temporal de los componentes de la operación.

Operación simple: son aquellas en las que interviene un solo capital tanto en la prestación como en la contraprestación.

Operaciones compuestas: corresponden a las operaciones financieras donde la prestación y/o en la contraprestación intervienen varios capitales con vencimientos distintos.

Dependiendo de la aplicación de la ley financiera.

De capitalización: se caracteriza porque el momento de equivalencia (P) en el que se van a comparar varios capitales es posterior al vencimiento del ultimo capital.

De actualización o descuento: son aquellas en las que el momento de equivalencia es anterior al vencimiento del primer capital.

Operaciones financieras mixtas: son aquellas en las que el momento de equivalencia se establecen en un momento intermedio entre los vencimientos de los capitales.

C1 C2 ? De capitalización

n1 n2…………………. p (tiempo)

C1 C2 De actualización

5. REGIMENES DE CAPITALIZACION

Toda operación financiera esta sujeta a una determinada ley financiera que se denomina régimen de capitalización. Existen dos tipos de regimenes de capitalización.

régimen de capitalización simple: se caracteriza porque los intereses que se generan en cada periodo de tiempo no se cumulan al capital principal. Por lo tanto los intereses de cada periodo se calculan siempre sobre el capital inicial. Se suele utilizar en operaciones a corto plazo.

régimen de capitalización compuesta: Se caracteriza porque los intereses que se generan en cada periodo se acumulan al capital anterior para calcular los intereses correspondientes al periodo siguiente. Se suele utiliza en operaciones financieras a largo plazo.

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We do not resell services from other providers. We are not selling our services through third parties.

We have gained trust from many customers across the world with our services and support. We offer large Tier4 colocation, networking and cloud capabilities to our international internet clients. We believe that leveraging each investment made in Forex VPS is extremely important, particularly in todayвЂ™s current business and economic climate, as it lets you focus on your core activities. A Datacenter contains the most valuable asset of any customer вЂ” its business ICT вЂ” and we at LinkUpHost believe that running these Datacenter infrastructures and their related hardware and networks should not be part of a businessвЂ™s core activities and can be delegated to a specialized service company like ours.

We have invested significant time, money and effort into state-of-the-art Data Center, technologies and world-class team. LinkUpHost has been successfully serving hundreds customers with: - State-of-the-art Tier 4 Datacenter; - Full professional ICT support services; - Highly scalable, resilient private cloud computing environment; - National backbone and international IP routes to major Internet locations; - A clear price-performance leadership; - Trustworthy security standards and operational procedures.

The Datacenter is on strategic crossroad location between Europe and Asia: Tier design 4 Typical power load 1150 W/m2 Raised floor load (minimum) 1500 kg/m2 UPS systems 2 (N+1) UPS autonomy > 25 minutes Transformer 2N Auxiliary power generator 2N Auxiliary power autonomy > 48 hours Cooling systems 2N Plenum cooling up to 7.5 kW/rack In-Row cooling 5 вЂ“ 10 kW/rack Air sampling & early smoke detection Yes Fire suppression & extinction Neutral gas (N2) Water leakage detection Yes Multilevel intrusion detection Yes Perimeter surveillance Yes CCTV Yes Security guard on-site 24 x 7 Security guard OFF-SITE 24 x 7 Central monitoring Yes Operational data reporting Yes Telecom operator diversity Yes Carrier meet-me rooms 2 Uptime commitment 99.99%

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TodayвЂ™s high-performance businesses demand a high-performance network infrastructure that provides fast, secure and reliable delivery of the applications that drive business processes. Out Datacenter core, distribution and access networks are based on Juniper EX Series Switches and M Series routers.

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3. Мазут

Мазут является второй по объему фракцией нефти (после бензина). Первоначально участниками срочного рынка на NYMEX являлись, в основном, крупные оптовики и потребители мазута, однако в последние годы все большее участие в торговле принимают потребители и производители дизельного и авиационного топлива (цены на эти товары на мировом рынке обычно устанавливаются на основании фьючерсной цены на мазут на NYMEX со стабильной премией).

На NYMEX торгуются фьючерсные контракты и опционы на фьючерсные контракты американского типа.

Объект поставки: мазут (heating oil N2).

Объем фьючерсного контракта: 42000 галлона (1000 баррелей).

Торговые часы: 9:45 - 15:10 (основная сессия), 16:00 - 8:00 (электронная торговля).

Месяцы поставки: одновременно торгуются 18 месячных фьючерсных контрактов.

Основные объемы торгов обычно сосредоточены на трех ближайшим контрактах.

Опционы - 12 последовательных месяцев.

Шаг изменения цены: 0.01 цент/галлон (4.2 дол/контракт).

Максимальное движение цены за день: по двум ближайшим фьючерсным контрактам - 40 центов/галлон (16000 долларов/контракт), по опционам лимиты не устанавливаются.

Гарантийный депозит: 1620 дол./контракт.

When President Buhari was announced winner of the 2015 Presidential Elections on March 31, 2015, the All Share Index recorded what is now known as a “Bull-Hari” effect. It recorded about 10 straight day of gains as investors basked in the excitement of a peaceful election and surprising acceptance of defeat by President Goodluck Jonathan. On the day the result was announced the marked gained a whopping 8.3% and followed that with another 3.9% gain.

Turn for the worse

Since then the stock market has recorded months of volatility as investors continue to be kept in the dark about the economic policies of the government. Investors both local and international have basically given up on the economy fleeing Nigerian stocks. The fall in oil prices, continued dithering by the CBN on its forex policies, corruption allegations against past governments, bankrupt states, drop in GDP and rising unemployment have all contributed to the negative outlook placed on the Nigerian economy thus damaging investor sentiments further.

This has now resulted in a massive loss of value for the exchange. As at August 26th Nigerian Stocks have lost a massive N2.46 trillion in value since President Buhari was announced winner. From a market capitalisation of N12.13 trillion on the second of April 2015, it closed at N9.67 trillion Wednesday August 26th 2015.

Sure, the president only assumed power May 29, 2015 but we believe the GEJ Government basically turned lame duck since then. Even at that the stock market has lost N1.89 trillion since May 29. It has not climbed above N11.6 trillion since May 28, 2015.

No one knows how soon things will reverse or how worse this could get in the coming months. For now the market is in dire need of an economic direction from the government. Despite the macro economic downturn being experienced around the world, a firm course of action from this Government will at least provide a soft landing for the market to bottom out.

UTC Aerospace Buys N2 Imaging, Powers Sensor Capabilities

By Zacks. com. December 03, 2015, 11:00:00 AM EDT

UTC Aerospace Systems, a unit of United Technologies Corporation UTX. bought out N2 Imaging Systems, LLC, in a strategic endeavour to further develop its extensive portfolio of capabilities.

The acquisition will augment UTC Aerospace's intelligence, surveillance and reconnaissance operations. Also, it will upgrade UTC Aerospace's technology and enable it to support the U. S. Military across the complete spectrum of global strategic, operational and tactical operations.

Based in Irvine, CA, N2 Imaging will aid UTC Aerospace in swiftly developing the most advanced imaging technology and delivering enhanced support to the U. S. Army's Reconnaissance, Surveillance and Target Acquisition (RSTA) mission.

UTC Aerospace has immense experience in designing, developing and fielding sophisticated technology. On the other hand, N2 is renowned for its leading-edge imaging technology and integration capabilities, which will allow it to deliver advanced optical systems for the military and commercial segments. Now, N2 Imaging's innovative capabilities integrated with UTC Aerospace's experience will enable the latter to further support on-time execution of the Army's Enhanced Night Vision Goggle (ENVG) program.

Their collective technology expertise and execution in sensor technology will open up a broad range of opportunities for the development of new, cost-effective man-portable imaging systems for military and commercial users.

This acquisition underscores UTC Aerospace's commitment to invest in future dual-use imaging technology and support the Army's technology road maps.

United Technologies provides high-end technology products and services to building systems and aerospace industries worldwide. This diversified business conglomerate serves various end markets such as aerospace, defense and commercial construction.

United Technologies currently has a Zacks Rank #3 (Hold). Some better-ranked conglomerates that look promising now include Compass Diversified Holdings CODI. Federal Signal Corp. FSS and Macquarie Infrastructure Corporation MIC. each sporting a Zacks Rank #2 (Buy).

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Acrylic watercolor painting, original artwork created by Alessandro Andreuccetti, italian painter.

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World Wide shipping takes around 10 days to arrive, depending on it's destination.

All rights reserved – Alessandro Andreuccetti Paintings – This is an original work of art created by the artist himself and may not be reproduced without written consent of the artist. The artist retains copyright for self-promotion.

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Naira appreciates against dollar at Forex markets

The naira appreciated against the dollar at the bureau de change and parallel markets yesterday. A survey conducted by the News Agency of Nigeria (NAN) in Lagos showed that naira traded at between N191 and N190 respectively at both markets, representing a gain of N2 to the dollar from the N193 and N192 it sold on December 24.

Before the traditional end-year closure of the Central Bank of Nigeria’s official market, the naira was stable at N168. It equally firmed up against the Pound Sterling at the official market at N260.36. Furthermore, it appreciated against the Pound Sterling at the BDCs, trading at N292, or a gain of N2 from the N294 it sold on December 24. The naira was also sold at N293 to the Pound Sterling at the parallel market since December 24.

At the official market, it was sold against the Euro at N204.48, while exchanging against the Euro at the BDCs for N235 compared with N238 or gain of N3 from December 24. The CBN had devalued the naira from N155/$1 to N168/$1. In addition, it had widened the band around the midpoint by 200 basis points from +/-3 per cent to +/-5 per cent.

Similarly, the CBN’s monetary policy committee had increased the monetary policy rate (MPR) by 100 basis points from 12 per cent to 13 per cent, while the cash reserve ratio (CRR) on private sector deposits was also raised by 500 basis points from 15 per cent to 20 per cent with immediate effect. But the CRR on public sector deposits was retained at 75 per cent, just as the net open foreign exchange trading position was left unchanged at one per cent.

The CBN governor, Mr. Godwin Emefiele, had attributed the pressure at the forex market to the dwindling supply of the United States dollars as well as a rise in the demand for the greenback. Specifically, the CBN governor pointed out that the slide in crude oil price, which has led to a reduction of earnings to the country, has also resulted to drop of US dollar inflow to Nigeria. He said the central bank had spent huge assets from the foreign reserves during the year in ensuring that the official exchange rate was maintained at its previous value of N155/$1.

The naira on Wednesday depreciated in value against the dollar at the autonomous foreign exchange market as President Muhammadu Buhari said it should not be devalued further.

Consequently, the naira on Wednesday weakened against the dollar by N2 or 0.90 percent each at the Bureau de Change (BDC) segment of the forex market and parallel market.

The naira fell to as low as N242 per dollar on the parallel market in July, versus the official rate of N197. It has lost around 15 percent against the dollar over the past year with an official devaluation in November and a de facto one in February. Buhari, who spoke in an interview with France 24, said he “does not think it is healthy for Nigeria to have the naira devalued further.

In June, the central bank restricted access to foreign exchange for the import of 41 items ranging from rice and toothpicks to steel products and glass.

The central bank ate up much of its reserves to support the local currency, selling dollars to BDC operators twice weekly in a bid to narrow the gap between the official and unofficial exchange rate.

ADD NEWSHELM ON BBM FOR BREAKING NEWS AND ENTERTAINMENT UPDATES: 5C0F5697

Naira: Currency now valued at 352 per dollar

The naira has taken a downward turn once again especially the United States dollar, rendering it to be currently valued at 352 against the greenback at the parallel market on Tuesday, February 16, 2016.

Foreign exchange dealers noted that the increasing pressure on the naira is caused by high demand for the dollar by importers and speculators.

The local currency as at Monday, February 15, 2016 had weakened to 345 at the parallel market, having hit 338 last Friday as importers scrambled for the dollar to meet foreign needs.

READ: Currency falls further down to 345/dollar

The central bank has left its official rate unchanged at N197 to the dollar on its interbank window.

The acting President, Association of Bureau De Change Operators, Aminu Gwadabe . told Reuters on Tuesday, “Most individuals who sell (dollars) to us are no longer willing, but demand is piling up,”

In an effort to conserve the external reserves, which are now at their lowest in more than 11 years, the Central Bank of Nigeria banned dollar sales to BDC operators, sending the naira to record lows at the black market, and later stopped daily sales to the interbank market.

The Chief Executive Officer, Economic Associates, Dr. Ayo Teriba . feels the situation shouldn't have deteriorated to its current point.

“This is 2016 and not 1986, 1992 or 1995; the conditions are not the same. The global environment has liquidity now that Nigeria can attract. The situation is not like 1986 when the global environment was tight.

The current economic problem has become a cause of concern for both the upper and lower class categories of the society as both sides have begun to nurse fear further meltdown.

Author

Ayodele Johnson is an Associate at Pulse. Communication Manager & Social Media Strategist with a keen interest in writing. Ayodele is a huge fan of the Hannibal Lecter fictional character. He is currently at crossroads when it concerns his interest in Hip-Hop & Rock music.

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Pulse. ng is Nigeria's online news platform. 24/7 news, gist, music, movies, lifestyle, events, sports and more.

&dupdo; 2016 Pulse. ng

World’s longest marine causeway to start construction by 2010?

The Qatar-Bahrain Friendship Causeway, a 40km long marine causeway featuring a 22km bridge and

18km embankments connecting the west coast of Qatar to the east coast of Bahrain. is scheduled to

begin construction in 2010.

The $3 billion project was originally scheduled to begin last year in May 2008, however in a statement

from Bahrain's Works Minister Fahmi al-Jowder the new deadline was announced.

"Work on the project will start in 2010 and it is expected to take four-and-a-half years to complete."

"Negotiations are still under way regarding the cost and are expected to be finalised by the end of the

year, but initial estimates hover around the $3 billion mark. Bahrain and Qatar have already allocated

a budget of $500m to start the project," he said.

When completed, the causeway will be the longest in the world and will also boast a 13 metre

wide railroad bridge. Travel time from Qatar to Bahrain by car is expected to be reduced from

four-and-a-half hours to around 30 minutes.

According to an estimate, the volume of traffic on the causeway is expected to be around 10,000

to 12,000 vehicles a day.

Construction contacts were awarded to KBR, an engineering company head-quartered in Houston, Texas, "to provide design, project and construction management services for the Qatar-Bahrain road and rail marine crossing." Other groups involved include the Qatar and Bahrain Causeway Foundation and a consortium of companies led by French construction major Vinci Construction and the German Company HOCHTIEF Construction AG and CCC and Qatari Diar Real Estate Investment Company.

N2.1bn I received from Dasuki was payment for media and publicity during campaigns–Dokpesi

Former Chairman and founder of DAAR communications, Chief Raymond Dokpesi, has said the huge sum of money transferred to his bank account by the erstwhile National Security Adviser (NSA) Sambo Dasuki, was meant to pay for publicity for the PDP presidential campaign during the last elections.

Dokpesi was picked up on Tuesday by the EFCC for interrogation as part of a raft of arrests on a phantom arms procurement procedure that never materialized.

Narrating the series of events which led him to the custody of the EFCC in a statement signed by the management of DAAR Communications Plc, Dokpesi said that at around 2.00pm on the day, the Acting Chairman of the EFCC, Alhaji Ibrahim Magu, through a phone call, invited him to the Commission.

On arriving the office of the commission, he was requested to “shed more light on some payments that were made to him through the office of the erstwhile National Security Adviser to the former President, Malam Sambo Dasuki.”

“Dokpesi explained to the EFCC officials that the N2.1 billion he collected from the former NSA was payment for publicity and media campaigns during the 2015 General Elections.

“High Chief Aleogho Dokpesi made his statement on the various media exposures and campaign transactions which were dutifully carried out based essentially on contractual obligations/relationship.”

Artículos Relacionados

Naira Loses N2 As Buhari Rejects Devaluation

The naira on Wednesday depreciated in value against the dollar at the autonomous foreign exchange market as President Muhammadu Buhari said it should not be devalued further.

Consequently, the naira on Wednesday weakened against the dollar by N2 or 0.90 percent each at the Bureau de Change (BDC) segment of the forex market and parallel market.

Buhari, who spoke in an interview with France 24, said he “does not think it is healthy for Nigeria to have the naira devalued further.

In June, the central bank restricted access to foreign exchange for the import of 41 items ranging from rice and toothpicks to steel products and glass.

The central bank ate up much of its reserves to support the local currency, selling dollars to BDC operators twice weekly in a bid to narrow the gap between the official and unofficial exchange rate.

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Forex Trading is a money making opportunity with which you can make a lot of money from trading on currency, stocks, commodities, indices and so much more, if you have ever exchanged from one currency to another, then you have traded forex, you simply trade one currency against the other, for example you will trade for dollar to rise against the Euro USD/EUR, and if the dollar rises, you end up making profit

Mind you. do not jump into forex trading without extensive learning otherwise you would end up loosing your money, i suggest opening a demo account with one of these brokers to practice before making decisions to stare with real money.

To trade forex you need a broker, a trading platform and some amount of money, gone are those days whereby only the rich can trade forex, with as little as $50 you can start trading forex. lets explain some forex terms..

BROKERS:these are comapanies that provides a platform where you can trade forex from the comfort of your home with your computers and smart phones, we have numerous brokers on the internet today, i am going to list the best i know below this page.

TRADING PLATFORM:This is software that enables you to trade forex on your device, we have the MT4 and MT 5 trading platform, the most widely used is the MT4,you can get this software from the website of any forex broker you are gonna be using.

The below is an example of an MT4 platform.

The below are the brokers i recommend.

1.Exness is one of the best brokers when it comes to trading forex, they provide the best of customer support and an opportunity to open a practice account to know more about forex. i highly recommend it.

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YoutradeFX Group consists of a group of internet brokerage and investment companies. Through thecompanies’ websites and trading platforms, traders can invest in CFD’s (contracts for difference) on stock, commodities, indices and the foreign exchange market. We are dedicated to building long-term relationships with our clients based on trust performance and our corporatevalues. We deliver the most optimal trading environment, unparalleled in quality and function, and supply every client with the highest levels of service at all times.

YoutradeFX Group has made online Forex trading hassle-free with the most advanced trading technology and services. As a Forex trader, you can enjoy our trading conditions which are of the best in the industry. Each Forex strategy devised by our team of experts focuses on your profit goals. Additionally, we ensure optimal information technology security for our clients. Both new and experienced traders can make use of our Forex forum to discuss various Forex trading issues openly.

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YoutradeFX Group caters for a growing client base of private and institutional traders, 24 hours a day, 6 days a week, by providing specialized trading services in over 10 languages. We are committed to providing our clients and partners with the most comprehensive and competitive trading solutions in the industry, delivering tighter spreads, excellent liquidity, the highest level of customer service and technological innovation.

You can google out more brokers for yourself..

If you want to go into forex trading and start making money today then i have good news for you. i am going to give you three indicators that will put you on profit most of the time and it will also save you time and energy. so here are the packages i have for you.

That’s the way it was BEFORE the new Forex Ultra Scalper.

Now, scalping is a sheer pleasure and it’s highly entertaining.

Instantaneous returns on your trades. You can receive up to 50 signals a day, while continuing to do one thing you love: doing trade and nothing else.

Complete freedom of choice of the best time to trade. You can trade at any time of the day or night, dedicating any amount of time you like: from 10 minutes a day up to 24 hours! Once again, the choice is completely yours!

No currency pairs restrictions. If you have an adequate knowledge of EURUSD, then you can trade freely. If you got a good feel for other pairs – no problem, go ahead and trade on those.

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Practically any trader, particularly in the beginning of their career, tried scalping.

You have to agree, that the sensations from playing Cat and Mouse give you an incredible “high”. Very few traders sustain the crazy rhythm of this type of trade. Only very few can stay with scalping for long.

One of our developers in the beginning of his career got excessively involved in scalping and eventually got burned pretty bad. He was forced to sell his new Toyota Prius, his father gave him on his University graduation.

However, what’s most incredible, is that the majority of people, who sustained losses in scalping, nevertheless, would like to try it again.

As a general rule, these people are afraid of losses, pressure and nerve-wrecking experiences. They are also afraid to be unhappy with themselves if they, once again, sustain losses.

FOREX SUPER SCALPER

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The trial of an ex-Director General of the Nigerian Maritime Administration and Safety Agency, Patrick Akpobolokemi, and five others continued before a Federal High Court in Lagos on Tuesday with a bureau de change operator, Hussein Sabo, testifying against them.

The defendants are being tried by the Economic and Financial Crimes Commission for allegedly converting to their personal use a total of N2,658,957, 666, belonging to NIMASA between December 23, 2013 and May 28, 2015.

They were on December 4, 2015 arraigned on 22 counts in relation to the offence before Justice Ibrahim Buba.

The accused — Akpobolokemi, Ezekiel Agaba, Ekene Nwakuche, Governor Juan, Blockz and Stonz Limited and Al-Kenzo Logistic Limited — however pleaded not guilty to all the charges.

Sabo was the 3rd witness to be called by the EFCC, which opened its case on Monday to prove its allegations against the accused persons.

Led in evidence by the EFCC prosecutor, Rotimi Oyedepo, Sabo, who spoke in pidgin English, told the court that one Muhammed Darlington approached him in March 2014 and told him that the 2nd defendant (Agaba) wanted to buy dollars.

The bureau de change operator said Dalington subsequently took his account number after which huge sums of money were paid into it in several tranches.

For instance, Sabo claimed that he received four payment alerts on March 3, 2014 for the sums of N33.8m, N35m, 20m and 3m, which he helped the accused to change into US dollars.

He also claimed that between March and December 2014 he received six payments in the sums of N85,305,000, N155,300,000, N13,000,000, N10,000,000, and N84,000,000, which he also helped the accused to change into US dollars.

Earlier, a fashion designer, Chukwuemeka Onuoha, who testified as the EFCC’s second witness, had told the court that the defendants used his company, Extreme Vertevex Limited, to siphon N546,802,000 from the coffers of NIMASA under the guise of a non-existent contract.

Onuoha told the court that though he neither tendered any proposal nor carried out any contract for NIMASA, N546,802,000 was paid by NIMASA into his account with Zenith Bank Plc.

The witness claimed that the disbursement of the money was facilitated by the 3rd defendant (Nwakuche) who he knew when he was in secondary school.

Onuoha narrated to the court how in 2003, shortly after the 3rd defendant secured an employment with NIMASA, he (Onuoha) approached the 3rd defendant and pleaded with him to consider him for any contract in the agency

He claimed that shortly after he made the request, the 3rd defendant called him on the telephone to enquire if he had any registered company that could be used for transactions as well as the company’s accounts.

Onuoha told the court that not long after he supplied the details of his company and his bank account to the 3rd defendant, he received several alerts from his bank totaling N546,802,000.

For instance, he told the court that in August 2014 he received N21,802,000; on November 6, 2014, he received N318m; and on November 25, 2014 he received an alert for payment of the sum of N207m into his bank account.

He added that when he enquired from the 3rd defendant what the money was meant for, he was told to wait for further instructions.

Onuoha told the court that he was later instructed to transfer the money to different accounts by the 3rd defendant.

Under cross examination by Akpobolokemi’s lawyer, Dr. Joseph Nwobike (SAN), Onuoha, however, told the court he had never met Akpobolokemi or received any money from him.

Justice Buba has adjourned further hearing in the matter till February 2,5, 16 and 19, 2016.

Mensaje de navegación

Nigeria’s Economic Crunch: Radical Programmes Needed To End Capitalism-Induced Crisis

1. Nigeria’s economy is in serious dire strait . no doubt.

a. In the next two months, 200 manufacturing businesses will close shop according to Manufacturers’ Association of Nigeria (MAN), (Punch, 03/03/2016) while over 50,000 jobs have already being lost in Abuja, according to Chair of Abuja Chamber of Commerce (Punch, 24/02/2016), all due to inability to access forex for raw materials and business activities. In fact, in December 2015 when dollar sold for less than N260 at parallel market, non-oil export fell by 25% month-on-month and 75% year-on-year, mostly driven by fall in food and mineral export (ProShare, 16/02/2016). By the end of this quarter, there are expected mass layoffs across boards. There is also runaway inflation that has eaten deeply into the income of the working and poor people.

segundo. The current economic crisis exemplified by the revenue fall, foreign exchange crisis, rising inflation and worsening unemployment, is a product of many years of neo-liberal and anti-developmental policies administered by agents of global finance capital, and massive looting of the nation’s wealth at all levels of governance and by all ruling parties. In the last 16 years of civil rule, Nigeria earned over $700 billion from crude oil exploitation; yet the level of development of the social infrastructures and economy is at abysmal level. Nigeria was plundered by politicians in power of all hues and coloration, and big business people (including their international partners and masters).

do. Every year since 2005, less than 18, 000 political office holders at all levels and in all political parties cornered N1.3 trillion annually as emoluments. This is more than a tenth of annual national budgets of all tiers of government. That means in the last ten years, at least N13 trillion or $65 billion has been officially handed over to 18, 000 politicians (0.01 % of population). This is just official emoluments. According to a World Bank estimate some years back, about 20 kobo out of every N1 budgeted for any project is actually spent, while some estimates claimed that over $140 billion has been looted since emergence of civil rule in 1999. This is aside the looting under Jonathan government.

re. On the other side, public wealth was used to ensure huge wealth and profits for big businesses. While waivers worth over N1.3 trillion was granted by the Jonathan government, the Obasanjo government before it also gave trillions of naira worth of waivers, tax breaks and monopoly to import for many big companies. This is aside billions doled out in form of government’s issuance of treasury bills and bonds, which guaranteed unmerited wealth for banks, financial institutions and big businesses (local and foreign), at the detriment of local and small businesses. In 2010, government used N2.5 trillion of public funds to bail out ten banks owned by a tiny clique of multibillionaires, while social infrastructures are in decrepit state. According to a House of Representative Adhoc Committee on fuel subsidy, more than 1.6 trillion naira was looted by various companies involved in the oil subsidy racket. The Jonathan government claimed that ‘only’ N300 billion was looted. However, neither N1.6 trillion nor N300 billion was recovered by the government.

mi. While public funds are given to politicians and big businesses, the same money, instead of being invested in productive and manufacturing activities, were again invested in government’s businesses that ensure huge profits e. g. privatization of state properties at rock-bottom prices, sale of oil blocks, importation of fuel, inflation of contracts and lending money to government. In situation where some productive activities were undertaken by big businesses like Dangote, Honeywell, etc. the government would have given several billion-dollar worth of waivers and dole outs to these private businesses. This is aside chronic exploitation of workers by these companies.

F. The state governments were not left out of this racket as politicians at state levels embarked on projects that were aimed at cornering public funds for private use, with little impact on economic and social development. The result is total depletion of public wealth. Excess crude account that was around $23 billion in 2012 was depleted to less than $2.5 billion by 2015, with little impact on the wellbeing of the majority of the population.

gramo. Not satisfied with this, governments at all levels developed a strong appetite for debts. Under Jonathan, the 3 tiers of government shared over N29 trillion ($145 billion) (Guardian 21/06/2015), yet social and public infrastructures are still in parlous state while poverty and unemployment still thrive. At the same time, the country's debt profile increased to over $66 billion (with foreign debt increasing to over $11 billion from less than $6 billion in 2011). While the Jonathan government mismanaged more than 52% of the N29 trillion that accrued to the country, the state governments run by all the major political parties also mismanaged over 40% of this revenue.

2. The implication of all this is that:

a. There is little development of social and physical infrastructures to support productive economic activities. This implies that the country is permanently stuck to import-based economy, while exporting only raw materials like crude oil, which constitute over 80% of export earnings. For instance, the country spent billions of dollars on importing fuel and food items like rice. At a period of higher earnings from crude oil sale, this may not strike any danger, but with crude oil hovering around $30 per barrel, as against more than $80 two years ago, the naira is expected to continue to dwindle in value. Even if government uses external reserve, currently at around $28 billion to save the currency, it will not go far enough, unless there is a shrink in consumption or the country develops productive capacity.

segundo. There is huge wealth gap between the very rich and the poor. This means public wealth is concentrated in fewer hands, whose luxurious lifestyle, denominated mostly in hard currencies, put more pressure on the currency, which drive up cost of living for the majority poor, whose income hardly increase. At a point, Nigeria became the destination for all kinds of luxury goods including exotic wines, cars, jewelries, and aircrafts. At another time, the number of private jets was more than commercial aircrafts. Also, during the 2015 elections, the two main capitalist parties spent millions of dollars for “campaign”. In fact, dollar became unofficial legal tender of the rich.

do. This, coupled with collapse of public infrastructures and services, and fall in the income of workers, will means working and poor people spending their meagre money on fewer things, which drives up inflation and reduces purchasing power. Businesses are also affected leading to mass retrenchment or at best no new employment. While not all consumables and products are imported, the fact that many of the country’s daily needs including foodstuffs, drugs, raw materials, industrial additives, etc. are imported shows that other goods produced internally will share in the burden, as inflation is contagious.

re. The pressure on naira also implies that there will be very little development of the country, as businesses that want to invest will scale back investment, while governments’ spending will shrink, leading to serious cut on purchasing power. For instance, the planned completion date of the oil refinery being built by Dangote has been shifted from 2018 to around 2020, while seeming permanent deflation of crude oil price poses threat to that business.

mi. To solve the problem, government need to reverse the causes of the economic crisis by:

yo. Stopping further devaluation of the currency by ending the senseless currency speculation by banks and Bureaux De Change (BDCs)

Ii. Increasing production of goods that can reduce imports and thus ease pressure on naira

Iii. Increasing production of exportable goods

Iv. Retrieving huge public funds looted either directly or indirectly, and stop further hemorrhaging of the public purse

v. Increase purchasing power of the majority of the population by reducing wealth gap and redistributing social wealth to the majority

3. Buhari Government’s responses

The government has stated that it is not disposed to further devaluation of the naira which has been pegged at around N198 to a dollar. This would have been a welcome development if it was implemented. However, this sounds more like a doctrinaire and propagandist pronouncement than any serious economic policy.

a. In the first instance, government banning of some goods, especially food items and industrial products, from using government’s hard currencies without serious programmes and policies to ensure production and availability of these products internally is more or less implementation of a neo-fascist monetary policy. It enforces compulsory suffering on the people, on the basis of maintaining the president’s rightwing nationalistic instinct.

segundo. While government fixed naira-to-dollar at N198/dollar, it allows previous manipulation of forex by banks to continue while directing anger against parallel market, which was supposed to hold less than 20 percent of the forex market. Meanwhile, banks continue to aid currency devaluation through round-tripping (i. e. buying dollar at N198 from government but selling at parallel market prices). The government’s policy of withdrawing dollar support for BDC is wrong and counterproductive. It is a middle-of-the-road approach that can be more ruinous. If government wants to end the BDC business, it should have done so directly and organized a more pragmatic approach to retail sale of dollar to end users, at affordable or official cost. Withdrawing CBN's dollar support to BDCs, while banks' forex business is enmeshed in corruption, round-tripping and ineptitude has led to BDCs becoming a major market for end users and thus a major decider of naira value. Allowing BDC to operate on free market approach under the above scenario has led to disaster for the economy. Contrarily, government can continue to supply BDCs dollars, and directly monitor and control their activities and tailor them towards government activities. With this, government can reverse the laisser faire arrangement in the BDCs and banks' forex activities.

do. It is funny that government will fix foreign exchange at official market, but make dollar scarce at the parallel market where law of demand and supply applies. Meanwhile, the parallel market is arguably more accessible and active than official market. To worsen already bad situation, the official forex market could not meet demand, even after government’s regulations. Furthermore, the government refused to release more hard currencies from external reserve to meet the fixed exchange rate and at the same time allows access to foreign currency. The summary of all this is that the government, while hiding under officialdom, has unofficially devalued the naira, and worse still deregulated the process of further devaluation of the currency.

re. In order to make naira gain real value, and become a tool of development, government has to implement some immediate and long term fiscal policies as highlighted in paragraph 2(b) above. But the fiscal responses of government does not show any sign of providing any serious clue out of the ensuing crisis that may get worse in the coming period.

4. 2016 ‘Expansionary’ Budget

Of course, the Buhari government claims to be planning about N2.3 billion spending on infrastructures and social programmes, but this seems more like piecemeal political project than serious economic revival project. Firstly, the N6.05 trillion budget with a deficit of N2.2 trillion will be financed by N1.88 trillion debt from local and foreign borrowing, while the government will, at the same time, be spending N1.3 trillion to service existing debts (a significant part of which is for local lenders). This means government will be borrowing back the same money it pays to service existing debts, or better put, will be borrowing to pay debt. This is clearly not sustainable.

a. Most part of the N1.8 trillion capital vote will be spent to fulfill existing contractual obligations on existing projects, while smaller amount is for new projects. More than this, the important aspect of the capital votes i. e. those for Ministries of Power, Housing and Works, and Transportation will gulp N660 billion out of the N1.88 trillion. With many contractors already indebted, the capital vote will only have marginal effect on purchasing power.

segundo. The so-called special social interventions that will gulp some N560 billion (N300 billion and N260 in the capital and recurrent sectors respectively), is not tailored towards some serious or long term economic improvement. For instance, some of these social programmes like payment of N5, 000 benefits to 1 million poor people will be run on pilot scheme, and rely on support of credit and donor agencies, which will make such programmes limited in scope and elitist in nature. More than this, it does not provide holistic approach to ending poverty or developing the economy on long term basis.

do. Possibly, the school feeding programmes, mass employment of 500, 000 teachers and conditional grants to the most impoverished, will be the most impactful of these social programmes. If implemented, it will have some minimal impact in improving living standards of some Nigerians. However, this is too little to make needed impact to reverse the economic quagmire. Over 3 million young Nigerians are reportedly thrown to the labour market yearly, while over 30 million people are jobless. Therefore, employing less than 500,000 young people over the tenure may not really address the problem. Worse still, the teaching jobs will only be a part-time job where beneficiaries are paid peanuts. This is similar to the Federal Teachers’ Scheme (FTS) of the Jonathan government which ended in fiasco as beneficiaries were unpaid for months. Furthermore, the social programmes will be carried out in conjunction with state governments. This is an assured failure, as most of the states are bankrupt and dysfunctional.

re. Moreover, the ability of the government to meet the revenue collection in the budget is doubtful. Currently the crude oil price is below the $38 per barrel, envisaged in the budget, while the ability of the country to sell 2.2 million barrels per day is highly uncertain, as there is a glut in the crude oil market. Therefore, over N800 billion in revenue expected from sale of crude oil may be hard to meet. Of course, there is possibility that crude oil price may rise again, after reaching a trough; but aside the fact that it is doubtful whether it will reach $38, the question of quantity supplied is another issue.

mi. On the other hand, government’s plan to rake in over N3 trillion-worth revenue from non-oil sector and independent sources, as much as this will be welcome, is not premised on any serious economic plan. For instance, as a result of the government’s tumbling monetary and forex policies, the non-oil export has fallen significantly by 25% fourth quarter of 2015 and 75% year-on-year. Although, the decline is driven mainly by fall in food and mineral sales, while manufacturing and industrial exports grew. However, on the basis on growing inflation, high cost of dollar, inability to access forex market and falling purchasing power, non-oil sector export and possible revenue for government will seriously reduce in the coming period. Already, there are talks of possible mass layoff of workers before the end of this quarter. Government’s plan to raise N360 billion from anti-corruption is also doubtful based on the haphazard approach to anti-corruption campaign. It is our contention that government can recover trillions of naira from anti-corruption campaign, if the right and radical approaches are taken, as will be shown subsequently.

F. While it is possible that some money may be recovered such as levies on mobile telecom company, MTN and others like Guinness, banks, etc. and through Treasury Single Account (TSA), this will not meet the budgetary need or the reverse the deficit nature of the budget as clearly explained above. More than this, the question of how government spend the money is another issue, as there seems to be no fundamental change to the rottenness of the past in terms of government’s spending. Huge, inflated contracts are still going to be awarded to contractors while Ministry of Works and its important agencies will be idle. Furthermore, the 2016 budget itself is already tainted with corruption as several fraudulent allocations and votes have been and are being discovered from the budget. According to BudgIt, a budget tracking non-governmental organization, over N111.3 billion has been discovered as hidden and fraudulent allocations in the 2016 budget (www. yourbudgit. com). As against the previous posture of the government, the 2016 budget and the burgeoning political population in the federal government, shows that there will be little change in term of reducing wasteful spending, even if more revenue is made.

gramo. All of these government’s policies in the monetary and fiscal areas will do little to lift Nigeria out of economic quagmire, neither will it engender long-term development of the country. More than this, it is our contention that the new government had the ample opportunities to make significant improvement in the economic situation of the country within the last 6-7 months, which could have raised the productive capacity of the country, improve the purchasing power of the majority poor, redistribute wealth and thus reduce inequality. However, the government is still committed to pro-rich neo-liberal capitalist policies that have held the country down, while launching austerity for the working and poor people. Of course, some minimal structural changes like the implementation of Treasury Single Account (TSA), and removal of monopoly of some import licence by big businesses have been carried out. However, these are too little for any major positive change. In fact, these piecemeal and minimalist reforms may create bigger problems than the previous ruinous policies of the Jonathan government. Neither moving forward nor moving back can be more disastrous than either of the two directions. Ample example is the Treasury Single Account (TSA) implementation.

marido. While government claim to be saving money through TSA and Zero Budgeting by centralizing revenue collection and disbursement, the 2016 budget and all the crazy allocations and votes tend to encourage pilfering of public till. This shows the limitations of piecemeal reforms. Politicians, contractors and senior technocrats, while accepting TSA and Zero Budgeting found another route through bogus allocations to circumvent the policies and continue with the past. Without total and radical anti-corruption reform at all levels, no amount of piecemeal reforms can effect any serious change. Interestingly, it was the National Assembly, generally adjudged as the most wasteful of the government’s three arms that exposed the frauds in the 2016 budget. Even if government implements the TSA and Zero Budgeting, politicians and contractors will find limitations in the policies to sabotage any gain that can accrue from it. For instance, with the sluggishness and tardiness in policy implementation associated with Nigerian government, TSA can be used to slow down government’s revenue collection effort, by ensuring that revenue generating agencies that draw their expenses from revenue they collect are starved of fund which will stunt their activities.

5. What can be done?

a. Government should invest in social and public infrastructures in order to raise purchasing power. For instance, massive investment in education, healthcare, road, mass housing, etc. will lead to employment of millions, reduce cost of accessing social services (with government subsidizing social services) and by extension raise purchasing power. This will spur economic activities that can raise government revenue and reduce pressure on forex. Unfortunately, the much-touted 'expansionary' 2016 budget contains arguably the worst capital allocations to education, health and housing. For instance, according to president of Nigeria Medical Association (NMA), just 3.65% of the budget is for health as against expected 15%; while less than 10% of what teaching hospitals needed to operate is given to them (Punch, 20/02/2016). This means further commercialization of health, collapse of health facilities, inadequate medical staff and expected industrial crisis. According to university lecturers’ union, ASUU, “the total capital appropriation to each of the federal ministry of education headquarters and 19 federal secondary schools is more than the capital vote of the 39 federal universities, 24 polytechnics and 21 colleges of education” (Thisday 24/03/2016). The special fund for universities, agreed to by Jonathan government in 2013, which requires government spending N200 billion each year for the next 5 years, was not included in the 2016 supposedly ‘expansionary’ budget. It was only in 2014 that the agreement was implemented, albeit poorly.

segundo. Government should directly invest in mass production of exportable goods, and imported products that can be produced locally. For instance, specific agro-products can be mass produced locally by government. Also, imported food items like rice and fish can be mass produced locally. Government can directly invest in large scale farming and/or provide inputs (seedling, fertilizer, etc.), machineries, market and extension services to farm cooperatives comprising mostly small farmers, under cost/profit sharing or equity arrangements. With this, forex will be saved, millions of direct jobs will be provided and economy boosted.

do. In addition, the government should invest in not just repair and revamping of existing state oil refineries, but also new ones. The country, after increasing fuel price severally and giving hundreds of billions of dollars in handouts, under the guise of encouraging investment in oil sector, has seen no serious private refineries being built. The effort by Dangote, arguably the biggest beneficiary of governments’ handouts, is already being threatened by the current economic crunch; while the glut and slowdown in global economy will further undermine any serious private sector investment in long term investments such as oil refining. Therefore, only government can take the serious effort to rebuild the oil sector and refining capacity. With the glut in global oil and gas sector, government can use the opportunity to expand capacity of local refineries, and production and distribution of gas for local consumption. For instance, massive investment in gas production and distribution will clearly resolve the power generation challenge, while investment in oil refineries will reduce import and price of fuel locally, which will have significant improvement on living standard, employment, purchasing power and by extension government revenue.

re. Government should also renationalize privatized public assets like power companies, iron and steel companies, and others that control the mainstay of the economy, as a way of planning a serious economic revival programmes for the country. All companies that have been involved in shortchanging the country and participated in looting of public funds should also be nationalized. There is no way the country can develop when her economic mainstay are in private hands, where the rule of profit maximization prevails. However, in order to prevent mismanagement associated with publicly-owned entities in the past, it will be important to introduce democratic control and management through involvement of workers’ organizations, communities, consumers and relevant professional groups in the management and control of nationalized and publicly owned entities. This is the only way to prevent looters from holding the country to jugular as was in the past.

6. Where will the money come from?

a. In the real sense, if government is serious about improving the economy, radical wealth redistribution will have to be carried out. This will mean government reversing the pro-rich policies of the past that had made the rich few richer. For instance, by introducing progressive tax such as property and luxury tax on the rich (especially in Abuja and Lagos, where federal government has tax coverage) and recovering withheld taxes by rich few and corporate entities, trillions of naira can be raised within a short time. There are so many unoccupied and underutilized properties and wealth across Abuja and Lagos from which government can raise hundreds of billions.

segundo. The recent discovery of how a manager of Abuja Electricity Distribution Company earned over N36 million monthly to reduce tax on the company's profit reveals how several billions of naira in taxes are being avoided by the rich. Businesses that cannot pay up their withheld or evaded taxes should be taken over and utilized in support of government's economic programme. Also, the over N1 trillion fine on MTN, which is now being negotiated to a fraction, shows that government can recover trillions of naira from those who have continually exploited the country, if the dragnet is extended to several other companies. Government should also recover N1 trillion owed government through AMCON. According to AMCON MD, many of those owing government are living extravagantly. By taking over their wealth, properties and companies, government can get enough resources to save the economy.

do. There is over N5 trillion in pension fund . If government take (or borrow) N2-3 trillion out of this fund to invest in its agro-allied programmes and social and public infrastructures, results in just six months will be seriously positive on the economy. For instance, government giving more than N500 billion to small farmers' cooperatives, and small (productive) businesses at around 2% interest through BoI or BoA or under equity and cost/profit-sharing arrangement, will undercut the exorbitant and cut-throat interests from commercial banks, and seriously drive down cost of borrowing. If CBN could dole out N2.5 trillion in 2009 to ten banks owned by handful of multibillionaires, getting N2-3 trillion from pension fund to save the economy cannot be a problem. The current technical approach of CBN of reducing MPR and CRR by 2% and 5% respectively in order to encourage banks to lend to local businesses is a worn-out approach. The same government will be borrowing over N980 billion from local market to fund the budget, while also paying the same market over N1 trillion in debt servicing (a case of borrowing your money back). With this, banks and financial markets are assured of quick wealth; therefore, they can 'sacrifice' for now by holding back lending to 'risky' businesses in a depressed economy.

re. Government can also recover hundreds of billions, if not trillions, from genuine anti-corruption campaign. For instance, instead of government's politicized and piecemeal anti-corruption campaign under EFCC, genuine and holistic fund recovery can be undertaken. The trial of Senate President by Code of Conduct Bureau (CCB) and Code of Conduct Tribunal (CCT) shows that if government commits some focus on building capacity of CCB and CCT to prosecute corrupt public officers, trillions of looted money. By providing synergy with other agencies like EFCC, ICPC, Police SFU, customs, CBN and local banks, CCB and CCT can recover (and could have recovered) trillions within short time, and avoid unwarranted sensationalism currently associated with EFCC campaign. Many of the corrupt elements are public officers. This does not mean that EFCC activities are not necessary, but through integrated and holistic approach to anti-corruption that links all the agencies and aimed at ending all regimes of perfidy, we can recover more money within short time.

But it seems the government is only interested in scoring political points against its equally corrupt PDP colleague, as any genuine anti-corruption campaign will expose the fraudulent basis of this government, which emergence was bankrolled by stolen funds from public till. This shows the uniformity of all capitalist political groups in Nigeria. Only a radical, democratic socialist government premised on revolutionary overhaul of the capitalist system, by mobilizing the working and poor people to the political and governance arena can make any tangible and long-term changes needed to move the country forward. It will be wishful thinking to believe that the current political structure comprising various elements who have played various role in the rot that has defined Nigeria will make any serious change to the political economy of the country.

The labour movement should wake up from its slumber and demand a radical reforms that will liberate the working and poor people. All austerity programmes should be rejected by labour movement. Ultimately, labour movement should build a mass working political party that can provide alternative social, economic and political programmes premised on socialist ideas, to the capitalist agenda of all the ruling but ruining political parties in Nigeria.

Conclusively, the current economic impasse in Nigeria reflects the crisis and fundamental failure of global capitalist economy. Since 2008, the world has not gotten out of economic maelstrom that has led to frailty of global economy. China and other big economies have not recovered from pre-2008 production. This is background to Nigeria’s economic crisis which is tied as a latecomer to the apron string of global capitalism, which is premised on obscene inequality not only among nations, but also between the richest 67 people (who owns more than half of world poorest) and the majority working and poor people. Therefore, the permanent solution to global misery lies not only with working people of Nigeria and Africa, but of the world, by ending the rule of capital and established a democratic socialist order.

Owerri: Customs Records N2.7 Bn Seizures, Arrests 316 Suspects

…As 500 Kwara Workers Die over Unpaid Salaries

The Federal Operations Unit (FOU), Zone ‘C’, an anti smuggling unit of the Nigeria Customs Service in Owerri, in 2015 recorded a total of 467 seizures, with an overall Duty Paid Value (DPV) of N2,709,807,358.

The Customs Area Controller of the Unit, Comptroller Dimka Victor David, who indicated this last week in a chat with news men, gave a graphic detail in respect of his obligation of nipping all forms of smuggling activities in both the South-East and South-South zones of Nigeria, noted that 316 suspects smugglers were also arrested; culminating in one conviction, seven cases won, while 23 cases were still in court.

Customs PRO and Image Maker, WALE ADENIYI

The unit, according to Dimka, also recovered the sum of N130,144,103 as underpayment on some items, providing a comparative analysis of seizure report and duty recovered with year 2014 which shows a geometric growth in result of suppressing smuggling within the zone.

“The current seizure report with duty paid value are 29% and 50% in increase respectively when compared to seizure report of year 2014 that recorded 363 seizures with Duty Paid Value (DPV) of N1,805,843,064.00″ he indicated further.

Ifeoma Onuigbo, PRO FOU command, Zone ‘C’

“A breakdown of the command’s 2015 performance shows a seizure-profile of 343 vehicles; 378 bales of bags/suitcases with 466 pieces; 6,472 pieces of imported used tyres; 8,855 cartons of foreign frozen poultry products; and 2,758 bales of imported textile materials.

“Others were 10 cartons of foreign beverages/juice; 2,584 bags of 50kg imported rice; 6,747 pairs of foot wears; 45 cartons of electrical/electronic equipment; 108 cartons of foreign vegetable oil; 1,387 packages of foreign furniture with 126 pieces; and 412 cartons of foreign soaps and detergents”, he stated, explaining that 1,561 cartons of fake drugs along with 7,493 bales of second-hand clothing and 5,642 cartons of other contraband items were equally impounded by the unit during the year under review.

“This increase also featured in the current report on duty recovered through DN issued as the increase represented in percentage of 81 percent is above the sum of N72,762,029 recovered on 59 Demand Notice (DN) issued and recorded in year 2014″, he also observed.

The CAC denounced the upsurge of smuggling activities in the country despite stiff penalties for culprits arrested; warning those still trapped in the illicit business to desist forthwith in their own interest, as the NCS has been further fortified, to deal with the nagging problem of smuggling being perpetrated by some unpatriotic individuals who are desperate to make quick money to the detriment of the nation’s economy.

He equally assured that the NCS under the leadership of the Comptroller-General of Customs, Col. Hameed Ibrahim Ali (Rtd.) would continue to apply decency and professionalism in the discharge of its statutory responsibilities even as he emphasized that officers found guilty of official misconduct would be strictly dealt with, and decried isolated cases of unwarranted media attack and blackmail against the NCS by some sections of the media, stressing the need for the media to always contact his office for verification of facts whenever necessary.

Dimka appealed to members of the public with useful information about smugglers: their agents, sponsors and collaborators, to contact law enforcement agencies for prompt action, emphasizing that such vital information would be handled with utmost confidentiality.

In the meantime, no fewer than 500 workers in the Kwara state public service have reportedly died due to the non-payment of their salaries and entitlements by the local and state governments in the past four months in the state.

The workers of the 16 local government councils in the state and those of the state tertiary institutions at the three state colleges of education in Oro, Ilorin and Lafiagi and the State College of Islamic and Legal Studies, (CAILS), Ilorin, had been on strike since November last year due to non-payment of over five months.

Also last week, teachers in primary and junior secondary schools in the state commenced their indefinite strike over the non-payment of four months of salaries while the teachers of senior secondary schools in the state have joined the strike in solidarity with their colleagues in both primary and junior secondary schools.

The state branch of Association of Local Government Chairmen of Nigeria (ALGON), Alhaji Lattef Okandeji has appealed to the striking teachers to be patient with them as all efforts have been put on ground to look for alternative windows to pay the backlog of unpaid salaries of teachers in the state.

Additional report from ThisDay

Foreign Investments Slid by N2.2trillion in 2015 – NBS

According to a new report released by the National Bureau of Statistics, the total value of capital imported into Nigeria in 2015 plungedby N2.21trn from the value recorded the previous year.

The report showed that a total $9.64 billion (N1.92trn) was imported into Nigeria in 2015 as against $20.75 billion (N4.13trn) that was imported the previous year.

Further analysis of the report showed that a total of $1.56 billion was imported in the fourth quarter of last year, translating to a decline of 43.34 per cent from levels recorded in the previous quarter.

The sector that imported the most capital in the fourth quarter of last year was banking, importing $193.49 million and “after being a relatively unimportant sector for the last few years” in terms of capital importation, electrical became the second largest importer of capital.

The NBS attributed the growth in capital imported by electricity to “possibly pointing to increased investments in the sector as a result of the sector’s deregulation in recent years.”

Balmoral Retains 100% Interest in N1-N2 Gold Project, Quebec

March 4, 2016 - Vancouver, BC

VANCOUVER, BC--(Marketwired - March 04, 2016) - Balmoral Resources Ltd. ("Balmoral" or the "Company" ) (TSX: BAR)(OTCQX: BALMF) advised its shareholders today that the Company will retain a 100% interest in its N1 and N2 gold properties, located along the Casa-Berardi-Douay Gold Trend in Quebec. The previously announced (see NR15-02, Feb. 2, 2015) Option Agreement between the Company and Wealth Minerals Ltd. (TSX VENTURE: WML)("Wealth") has been terminated with Wealth having chosen to focus on opportunities in the lithium space. Balmoral will therefore retain a 100% interest in the properties and examine other options to move the properties forward.

Balmoral and Wealth have entered into an Agreement (the "Termination Agreement") whereby Wealth will settle certain obligations originally contemplated under the Option Agreement by making to Balmoral certain cash and/or common share payments in installments between April 1 and October 1 of 2016. Any common shares to be delivered under the terms of the Termination Agreement shall be valued at the average price of Wealth's common shares for the proceeding 20 trading days and maybe subject to prior approval of the TSXV and standard hold provisions. Balmoral received a payment of 1,000,000 common shares of Wealth in February of 2015 and currently retains 425,000 shares for investment purposes.

"Given the rising tide in the gold market, in particular in relation to gold opportunities in Canada, we are pleased to get the N1 and N2 properties back unencumbered," said Darin Wagner, President and CEO of Balmoral. "This provides Balmoral with the flexibility to find an alternative path to advance the properties while having captured some benefit for the shareholders over the last 12 months."

Balmoral's N1 and N2 Properties are located along the Casa-Berardi-Douay Gold Trend which hosts the multi-million ounce Casa-Berardi gold mine and the immediately adjacent Vezza gold deposit. Work by previous operators has identified 6 separate zones of gold mineralization on the N2 Property. The most extensive of these zones, the A Zone, has been traced in shallow drilling for well over 1,000 metres along strike. Drill testing to date has been limited to depths of 25 to 350 vertical metres. All known zones of gold mineralization remain open for expansion. In 2011 the Company completed a VTEM airborne survey of the N2 Property which outlined several areas of interest which remain to be tested.

The project is road accessible and located 25 kilometres south of Mattagami, Quebec, approximately 55 kilometres east of the now dormant Sleeping Giant mill complex and roughly 100 kilometres south of Balmoral's Detour Trend Gold Project.

Mr. Darin Wagner (P. Geo.), President and CEO of the Company, is the non-independent qualified person who has approved the scientific and technical information contained in this news release. Mr. Wagner has reviewed the historic work on the N1 and N2 Properties and visited the N2 Property.

Balmoral is a well-funded, Canadian-based company actively delineating and expanding both high-grade gold and nickel discoveries on its wholly owned, 700 square kilometre Detour Trend Project in Quebec, Canada. Employing an award winning exploration team, Balmoral has a philosophy of creating value through the drill bit. By focusing our efforts in proven productive precious/base metal belts in one of the world's pre-eminent mining jurisdictions, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian gold and base metal assets.

On behalf of the board of directors of

BALMORAL RESOURCES LTD.

President and CEO

This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration programs and expenditures, the discovery and delineation of mineral deposits/resources/reserves. the prospective nature of the Company's land holdings, the nature and style of the mineralization discussed and its interpreted continuity, interest of investors in the results generated by the Company's exploration activities and business and financing plans and trends, the anticipated timing of payments, and Wealth Minerals ability to secure sufficient funding to complete its obligations under the terms of the proposed agreement and acceptance of the potential share issuances by the TSXV are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties in particular Wealth's ability to attract sufficient funding to meet its obligations under the proposed agreement or receive TSXV approval for the agreement in a timely fashion; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the uncertain nature and interpretation of geological and geophysical models, risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably . Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www. sedar. com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.

This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

For further information contact: John Foulkes Vice-President, Corporate Development Tel: (604) 638-5815 Toll Free: (877) 838-3664 E-mail: info@balmoralresources. com

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Balmoral Options N1-N2 Project to Wealth Minerals

VANCOUVER, BC --(Marketwired - February 02, 2015) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX: BAR) (OTCQX: BALMF) reported today that it has agreed to option it's N1 and N2 Properties, located along the Casa-Berardi Gold Trend in Quebec, to Wealth Minerals Ltd. (TSX VENTURE: WML)("Wealth"). Under the terms of the Option Agreement, Wealth will be granted an option to earn an initial 51% interest in the Project by completing $2.2 million dollars in exploration on the Project over 3 years, including a minimum of $1.2 million in drilling, and issuing 3.0 million common shares to Balmoral (representing approximately 14% of the currently outstanding shares of Wealth) (see table 1 below). Under a second option Wealth may earn an additional 24% interest in the Project (for an aggregate 75% interest) through additional expenditures of $2.8 million (for total aggregate expenditures of $5.0 million) and making cash payments of $600,000 to Balmoral. Balmoral currently holds a 100% interest in the Project. The Option Agreement will require Wealth to receive the approval of the TSXV.

"We are pleased to have found a partner to move the N1-N2 Project forward while we concentrate on the expansion of our nickel and gold discoveries at Grasset and Martiniere," said Darin Wagner, President and CEO of Balmoral. "Pending the acceptance of the agreement by the TSXV our shareholders will have results from another drill program in the gold space to look forward to in 2015 with the reactivation of the N2 Project."

Balmoral's award winning exploration team will provide technical oversight to Wealth during the initial Phase of the Option Agreement.

Balmoral's N2 Property is located along the Casa-Berardi Gold Trend which host the multi-million ounce Casa-Berardi gold mine and the immediately adjacent Vezza gold deposit. Work by previous operators has identified 6 zones of gold mineralization on the property. The most extensive of these zones, the A Zone, has been traced in shallow drilling for well over 1.0 kilometre. Drill testing to date has been limited to depths of 100 to 350 vertical metres. All known zones of gold mineralization remain open for expansion. In 2011 the Company completed a VTEM airborne survey of the N2 Property which outlined several areas of interest.

The Project is road accessible and located 25 kilometres south of Mattagami, Quebec, approximately 55 kilometres east of the Sleeping Giant mill complex and roughly 100 km south of Balmoral's Detour Trend Gold Project.

Initially, Wealth can earn a 51% interest for total consideration of 3.0 million common shares and work commitments of $2.2 million over three years (the "First Option") (Table 1). On completion of the First Option, Wealth can elect to participate in a Second Option to earn an additional 24% (total 75%). Under the terms of the Second Option, Wealth must meet work commitments of $2.8 million and pay a cash consideration of $600,000, both over three years. Cash payments of $0.6 million can be made in either stock or cash at Wealth's option. Interest earned is subject to certain existing royalties with third parties.

Table 1: Summary of Options Terms

* During the First Option, $1.2 million of the $2.2 million total expenditure in years 1, 2 and 3 must be expended on drilling. This is further defined as $200,000 in Year 1, $400,000 in Year 2 and $700,000 in Year 3. ^ During the Second Option, total expenditure of $2.8 million in years 4, 5 and 6 (or earlier) is subject to minimums of $500,000 per annum.

Following the completion of either the First or Second Option, a joint venture will be formed to further advance the Project. Wealth will be the operator of the Project through the First and Second Options and initial phase of any subsequent joint venture.

About Wealth Minerals

Wealth Minerals is a Vancouver based, recently reorganized mineral exploration Company focused on identifying and aggressively exploring highly prospective precious metal projects in the America's.

About Balmoral Resources Ltd. - www. balmoralresources. com

On behalf of the board of directors of BALMORAL RESOURCES LTD.

President and CEO

This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration programs and expenditures, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, the prospective nature of the Company's land holdings, the nature and style of the mineralization discussed and its interpreted continuity, interest of investors in the results generated by the Company's exploration activities and business and financing plans and trends, Wealth Minerals ability to secure sufficient funding to complete its obligations under the terms of the proposed agreement and acceptance of the proposed agreement by the TSXV are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties in particular Wealth's ability to attract sufficient funding to meet its obligations under the proposed agreement or receive TSXV approval for the agreement in a timely fashion; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the uncertain nature and interpretation of geological and geophysical models, risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www. sedar. com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

FOR FURTHER INFORMATION PLEASE CONTACT:

For further information contact: The Office of the President Tel: (604) 638-5815 Toll Free: (877) 838-3664 E-mail: info@balmoralresources. com

Corporate Earnings

The Analyst is a market service provided by Proshare Nigeria Limited.

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We Saved N2.2trn Using TSA – PMB

President Muhammadu Buhari revealed his administration has so far saved 2.2 trillion Naira using the Treasury Single Account (TSA).

The President made this disclosure while interacting with a cross section of the Nigerian community in the United Kingdom on the side-line of the Supporting Syria Conference in London.

According to the president, this measure is specifically to promote transparency and prevent the loss or leakages of legitimate income meant for the federation account.

President Buhari faulted past administrations for operating several accounts with which they siphoned money belonging to Nigerians vowing not to relent in the fight against corruption.

He said that he would make every Nigerian accountable and that money recovered so far can fund the country’s deficit and infrastructure development.

“For its own reasons, it couldn’t impose it, but when we came and we found out that we were broke, we saw that this as the way to do it.

“We discovered that the NNPC had more than 45 accounts, the ministry of defence and the military had more than 70 accounts; tell me which of the accounts to trace every year.

“So we enforced TSA, we said there must be TSA, and let me tell you by the end of December coming to January this year, last month we mopped up more than N2.2 trillion.”

We ended sale of Forex to BDC’s because of corruption

The president pointed out that some CBN directors used BDCs that they owned to shortchange the government.

He said,“We found out that some directors of CBN owned bureau de change and when foreign exchange comes, they take it to their bureau de change and give government the change,”

SAP killed the Naira

President Muhammadu Buhari has said the Structural Adjustment Programme (SAP) which was initiated by former military President Ibrahim Badamosi Babangida, between 1986 and 1988 killed the Naira.

Speaking during an interactive session with BBC, Buhari recalled that the introduction of the SAP was the origin of the problem facing the Naira today .

He lamented that most of young people in this country today can’t get jobs, adding that that is one of the biggest dangers his administration is facing.

iBerry Auxus Nuclea N2 to be launched at Rs 19,990

New Delhi: iBerry has announced the launch of the follow up to its previously launched Auxus Nuclea N1 last year in India — Auxus Nuclea N2.

iBerry has decided to sell the Nuclea N2 for a 10-day introductory price of Rs 19,990. The phone will sell at its regular price of Rs 23,990 after the introductory price offer gets over.

Under the hood, the Auxus Nuclea N2 has a mammoth 3,500 mAh Li-ion battery which can give up to 12 hours of talktime.

The camera on the phone is an auto-focus 13MP with BSI sensor. The display mirrors that of its predecessor and features a 5.7-inch full-HD and carries the Active Marix Display with OGS technology. The phone is also 8.5mm in thickness.

The phone is powered by a 1.7GHz octa-core MediaTek MT6592 processor and runs on 2GB of RAM. It comes with Android 4.2.2 Jelly Bean and there is a planned KitKat update in the works as well.

Auxus Nuclea N2 is a dual-SIM smartphone which has both micro SIM and a regular SIM slot.

The phone is currently available at the company's website, www. iberry. asia. and at authorised retailers around the country.

We Saved N2.2trn Using TSA – PMB

President Muhammadu Buhari revealed his administration has so far saved 2.2 trillion Naira using the Treasury Single Account (TSA).

The President made this disclosure while interacting with a cross section of the Nigerian community in the United Kingdom on the side-line of the Supporting Syria Conference in London.

It could be recalled that President Buhari last year October directed that all revenues due to the Federal Government or any of its agencies must be paid into the Treasury Single Account (TSA) or designated accounts maintained and operated in the Central Bank of Nigeria (CBN) .

According to the president, this measure is specifically to promote transparency and prevent the loss or leakages of legitimate income meant for the federation account.

President Buhari faulted past administrations for operating several accounts with which they siphoned money belonging to Nigerians vowing not to relent in the fight against corruption.

He said that he would make every Nigerian accountable and that money recovered so far can fund the country’s deficit and infrastructure development.

“For its own reasons, it couldn’t impose it, but when we came and we found out that we were broke, we saw that this as the way to do it.

“We discovered that the NNPC had more than 45 accounts, the ministry of defence and the military had more than 70 accounts; tell me which of the accounts to trace every year.

“So we enforced TSA, we said there must be TSA, and let me tell you by the end of December coming to January this year, last month we mopped up more than N2.2 trillion.”

We ended sale of Forex to BDC’s because of corruption

The president pointed out that some CBN directors used BDCs that they owned to shortchange the government.

He said,“We found out that some directors of CBN owned bureau de change and when foreign exchange comes, they take it to their bureau de change and give government the change,”

SAP killed the Naira

President Muhammadu Buhari has said the Structural Adjustment Programme (SAP) which was initiated by former military President Ibrahim Badamosi Babangida, between 1986 and 1988 killed the Naira.

Speaking during an interactive session with BBC, Buhari recalled that the introduction of the SAP was the origin of the problem facing the Naira today .

He lamented that most of young people in this country today can’t get jobs, adding that that is one of the biggest dangers his administration is facing.

Jonathan Approves N2.9 Billion Farewell Package For NIMASA

Goodluck jonathan, Formal President Of Nigeria

DG lobbies Buhari; Spends N79 Million On Letter-headed Papers

Col. Hamid Ali Awaits EFCC Chair

Tompolo’s Security Contract Renewed For $2.5Million

There are strong indications that the embattled Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Patrick Akpobolokemi has intensified his lobby within the political hierarchy of President Muhammadu Buhari’s All Progressives Congress (APC) to retain his position.

Meanwhile, he has secured the approval and disbursement of N2.9 billion from former President Goodluck Jonathan for the agency. Seven different approvals amounting to this sum were swiftly granted by Jonathan in a space of four weeks in the month of April, 2015.

Surprisingly, one of the contracts was the alleged payment of N79 million to a phoney company for the printing of 50, 000 copies of NIMASA corporate letter-headed paper and another N75 million for sea protection levy certificates.

Yet another surprise was the approval of USD6.58 million (N1.5billion) for the payment of an alleged phoney contract of Maritime Domain Awareness System contract renewal paid to one Kleyman Mirad BTS Ltd, while the sum of USD2.5 million (N550million) was paid for the 2015 annual Satellite Surveillance Systems subscription contract. N18 million was paid for the printing of security documents and N30 million for the printing of administrative and operational documents, while the sum of N447 million was paid to an undisclosed contractor to enhance the implementation of International Ships and Ports Facility Security (ISPS) Code in Nigerian ports facilities.

Also, the sum of N318 million was approved for the agency to address capacity gaps in the maritime industry.

However, MMS Plus Weekly gathered that Akpobolokemi who was told by one of his supposed helpers to jettison his ambition of retaining the position of the Director-General and lobby for a reduced jail term in the new administration, was subsequently informed of the in-coming Chairman of the Economic and Financial Crimes Commission (EFCC) as Col. Hamid Ibrahim Ali (rtd), a Kano prince who was a one-time military Governor of Kaduna state. He is currently undergoing the State Security Service (SSS) screening in preparation for his appointment.

Never the less, all the payment approvals were got through the office of the National Security Adviser, Col. Mohammed Dasuki (rtd) except that of the printing of administrative documents and letter headed papers which passed through the Bureau for Public Procurement (BPP) which declined to give the approval sought by NIMASA through the Federal Ministry of Transport. That notwithstanding, NIMASA had its way at last.

In disobedience to the extant Public Procurement Act 2007, NIMASA awarded the N78, 750, 000 .00 contract of printing a corporate letter-headed paper to one Messrs. Kalamazoo Security printing Limited. They were to print 50, 000 copies, while another company, Elgan Integrated Limited was equally paid N75 million to print sea protection levy certificates.

NIMASA had through the Minister of Transport in a memo dated January 29, 2015 requested the BPP to grant due process “No Objection” for selective tendering method for the printing of the security documents which it turned down on the grounds that there is the existence of Nigerian Security Printing and Minting Plc whose responsibility include printing of government security documents. But NIMASA went ahead with the contract insisting that the documents would be embedded with security features in line with the requirements of the International Maritime Organisation (IMO).

In a letter dated 29 April, 2015 from the office of the National Security Adviser, addressed to the DG, NIMASA entitled: RE: Satellite Surveillance System Yearly subscription Renewal . signed by Col. N. Ashinze for NSA, president Jonathan approved the payment of USD2. 509, 500. 00 ”to Messrs. Kleyman Mirad BTS Ltd for the payment of yearly subscription for the satellite system project.”

Justifying this payment, Akpobolokemi stated: “The system was designed taking into consideration, known problems in the maritime sector of other regions and nations in addition to Nigeria’s peculiar nature. Some of the great features it has include: Ship to ship contact alert, ability to see beyond the territorial waters of Nigeria.”

Jonathan equally in a letter dated 29 April, 2015 approved the sum in the nation’s maritime administration preparatory to the IMO audit scheme.

According to the Director-General, the fund was to implement the various programmes required to prepare the agency for the NIMASA’s pre-audit activities.

Akpobolokemi in his letter seeking the approval of N447 million for ISPS Code facility upgrade in Nigeria, stated, “We wish to bring to the notice of the NSA, the fact that the agency has recorded significant strides and success story as evidenced by the local and international community including the report issued by United States Coast Guard (USCG) reports in terms of the current status of ISPS code compliance in Nigeria.”

However, a stakeholder who prefers anonymity said, “This is fraud at an unprecedented level. There is absolutely nothing to show for those expenditures. ISPS Code and VIMSAS were just smoke screens to steal money. The involvement of Bureau of Public Enterprises was to give the transaction the semblance of authenticity.

“The bureau is a creation of the presidency and it takes instructions from the presidency. The information is that the fraud was an orchestration to siphon money from NIMASA for Jonathan’s election. There is no proof of any procurement or work done. Nigeria is a jungle, GMB must move swiftly to arrest the thieving DG of NIMASA and all the EDs especially one Captain Bala Agaba who arranged all the deals. This is classified information and highly confidential.”

Balmoral Retains 100% Interest in N1-N2 Gold Project, Quebec

VANCOUVER, BC --(Marketwired - March 04, 2016) - Balmoral Resources Ltd. ("Balmoral" or the "Company" ) (BAR. TO ) (BALMF ) advised its shareholders today that the Company will retain a 100% interest in its N1 and N2 gold properties, located along the Casa-Berardi-Douay Gold Trend in Quebec. The previously announced (see NR15-02, Feb. 2, 2015) Option Agreement between the Company and Wealth Minerals Ltd. (TSX VENTURE: WML) ("Wealth") has been terminated with Wealth having chosen to focus on opportunities in the lithium space. Balmoral will therefore retain a 100% interest in the properties and examine other options to move the properties forward.

On behalf of the board of directors of

BALMORAL RESOURCES LTD.

President and CEO

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

For further information contact: John Foulkes Vice-President, Corporate Development Tel: (604) 638-5815 Toll Free: (877) 838-3664 E-mail: info@balmoralresources. com

MONTREAL - An annoying sign of spring — the dreaded pothole — is testing the patience of Canadian drivers … More » Pothole menace angers motorists, creates business for repair shops

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Dokpesi and N2.1b Money For Media Publicity, Bail Denied, To Remain In EFCC Custody

Not guilty, was the response of Chief Raymond Dokpesi at the Federal High after the six counts charges read to him filed by EFCC.

The charges, FHC/ABJ/CR/380/2015 and filed by the Economic and Financial Crimes Commission (EFCC) indicated that Dokpesi is charged along with his company – Daar Holding and Investment Limited.

After all the drama today Thursday in court, presiding judge, Justice Kolawole adjourned the case to Monday, December 14.

The judge also ordered that the accused remain in the custody of the EFCC till the day of ruling.

Opciones Binarias repelon

Monday 23 October 2017

Forex N2

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