BUSINESS
FG Committed to Prompt Payment of Workers’ Salaries, Welfare – AGF
By Tony Obiechina, Abuja
The Accountant General of the Federation, Ahmed Idris has reaffirmed the commitment of the Federal Government to prompt payment of salaries and the general welfare of workers.
idris, while interacting with the leadership of the National Association of Senior Civil Servants of Nigeria, who were on a courtesy visit to his office in Abuja, noted that the Government is not oblivious of the importance of a well-motivated workforce.
He emphasized that the Federal Government will continue to work assiduously to eliminate hitches that may occur in the system so that prompt payment of workers’ salaries would be sustained.
The AGF congratulated the Executives of the National Association on their victory at the elections and prayed that their tenure would be devoid of rancour and unnecessary conflicts.
He advised the leadership of the Association to focus on issues that promote unity and well-being of its members and the country at large. He said the Association should, “… remain on track; never deviate, never be dragged into trivial, sectional and sentimental issues which are not basic to the cause and objectives of the Association”.
He assured the leadership of the Association of the readiness of the Federal Treasury to continue to partner and collaborate with them on all matters that have to do with staff welfare and national development.
On the relationship with the in-house staff unions, the Accountant General of the Federation said the management of the Federal Treasury has entrenched a culture of mutual respect and cooperation with the staff unions and has made them fully involved in decision making. He said the policy of mutual cooperation between the staff unions and management has resulted in the successes recorded by the Federal Treasury.
Speaking earlier, the National President of the Association, Comrade Tommy Etim PhD, opined that to ensure productivity, there must be industrial harmony in the public service. He expressed delight at what he described as symbiotic relationship between the management and the staff unions in the Federal Treasury.
He applauded the management of the Federal Treasury for the priority given to staff welfare and safety as well as infrastructural developments and expressed the readiness of the National Association of Senior Civil Servants of Nigeria to work with the Accountant General of the Federation.
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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