Monthly Archives: May 2016

Three Tips for Building a High-Impact Resume By Julia VanDeren

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Now that social media plays such a significant role in how recruiters and potential employers evaluate you, is your resume still such a critical piece of the self-marketing puzzle?

Yes, it is, says career coach Dennis Grady of The Career Advisory Group. In a recent webinar, “Building a High-Impact Resume,” Grady explains that while social media is likely the first exposure a corporate or executive recruiter will have to you, your resume is still the most important factor in determining whether you receive an interview. Moreover, your resume often serves as the road map for that interview, giving you the opportunity to help determine what the focus of that conversation will be.

So what were Grady’s insights on building an impactful resume?

Continue reading Three Tips for Building a High-Impact Resume By Julia VanDeren

Text of President Buhari’s anniversary speech

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My compatriots,

It is one year today since our administration came into office. It has been a year of triumph, consolidation, pains and achievements. By age, instinct and experience, my preference is to look forward, to prepare for the challenges that lie ahead and rededicate the administration to the task of fixing Nigeria. But I believe we can also learn from the obstacles we have overcome and the progress we made thus far, to help strengthen the plans that we have in place to put Nigeria back on the path of progress.

We affirm our belief in democracy as the form of government that best assures the active participation and actual benefit of the people. Despite the many years of hardship and disappointment the people of this nation have proved inherently good, industrious tolerant, patient and generous.

Continue reading Text of President Buhari’s anniversary speech

Central Bank of Nigeria Communique No 107 of the Monetary Policy Committee Meeting of Monday and Tuesday 23rd and 24th May 2016

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The Committee’s Decisions
The Committee, in its assessment of the relevant risk profiles, came to the conclusion that although, the balance of risks remains tilted against growth; previous decisions need time to crystalize. Consequently, in a period of
stagflation, the policy options are very limited. To avoid complicating the conditions, the Committee decided on the least risky option to hold. The foreign exchange market framework, now ready, the MPC voted unanimously to adopt greater flexibility in exchange rate policy to restore the automatic adjustment properties of the exchange rate.

Continue reading Central Bank of Nigeria Communique No 107 of the Monetary Policy Committee Meeting of Monday and Tuesday 23rd and 24th May 2016

Official: CBN “Floats” The Naira, What It Means!

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The Central Bank Governor Godwin Emefiele today announced that the CBN was adopting a  “flexible foreign exchange rate” regime in an apparent admission of policy failure and a belated response to the current economic disaster that the country is in.

The CBN Governor in a press briefing following the conclusion of the CBN Monetary Policy Committee meeting explained that “The MPC (Monetary Policy Committee) voted unanimously to adopt a flexible exchange rate policy to restore the automatic adjustment properties of the exchange rate,”. He also said that “retain a small window for funding critical transactions” and that “details of operations of the market would be released by the central bank at the appropriate time”.

Continue reading Official: CBN “Floats” The Naira, What It Means!

A woman who interviewed over 100 people at Goldman Sachs says there’s one question she always hoped candidates would ask her, but they never did. By Jacquelyn Smith (Business Insider).

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At some point toward the end of every job interview, the hiring manager will likely turn the tables and ask, “Do you have any questions for me?”

This is the time to ask smart, thoughtful questions — perhaps your final opportunity to assess whether the job would be a good fit, and your final chance to impress the hiring manager.

Continue reading A woman who interviewed over 100 people at Goldman Sachs says there’s one question she always hoped candidates would ask her, but they never did. By Jacquelyn Smith (Business Insider).

Buhari’s Special Adviser Explains Fuel Price Increase In This Brilliant Article

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Special Adviser to President Buhari on National Planning Ben Akabueze has weighed in on the increase in fuel price recently announced by Nigeria’s Minister for State for Petroleum Dr. Ibe Kachikwu.

He wrote an interesting piece on his facebook pagewhere he explained the price removal from his own perspective. Here it is in full.

I have finally decided, at the risk of being labeled / abused, to weigh in on the discussion regarding the new framework for pricing petroleum products in the country.

My sole purpose in making this post is to attempt to clarify the issues, especially for those whose minds are not already closed on the subject.

Continue reading Buhari’s Special Adviser Explains Fuel Price Increase In This Brilliant Article

Naira devaluation inevitable, Rewane, others insist | Punch Newspapers

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The naira, which came under pressure last week following the partial deregulation of the downstream petroleum sub-sector, has to be devalued, with a flexible foreign exchange policy put in place, industry experts have said.

The currency had on Friday plunged to 360 against the United States dollar at the parallel market from 341 on Thursday, a day after the Federal Government announced a new petrol price band of N135 to N145 per litre and that fuel importers were now free to source for dollars from the parallel market to import the product.

The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, said in a telephone interview with our correspondent on Sunday, “Definitely, at this point in time, the official price of the naira is not appropriate. So, they will have to take a look at that and come up with an exchange rate policy that will take all of this into full consideration.

Continue reading Naira devaluation inevitable, Rewane, others insist | Punch Newspapers

JOINT COMMUNIQUE ISSUED AT THE END OF THE EMERGENCY MEETINGS OF THE NATIONAL EXECUTIVE COUNCILS OF THE NIGERIA LABOUR CONGRESS, THE TRADE UNION CONGRESS AND CIVIL SOCIETY ORGANIZATIONS HELD ON FRIDAY MAY 13, 2016

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The emergency meeting debated extensively the implications of government’s unilateral increase in prices of petroleum products, noting government’s disinclination for consultation on issues of public interest and its obsession with protecting product marketers at the expense of the Nigerian public. The meeting expressed concern about government’s neo-liberal policies which it considered a betrayal of its electioneering promises and observed  as follows:

Continue reading JOINT COMMUNIQUE ISSUED AT THE END OF THE EMERGENCY MEETINGS OF THE NATIONAL EXECUTIVE COUNCILS OF THE NIGERIA LABOUR CONGRESS, THE TRADE UNION CONGRESS AND CIVIL SOCIETY ORGANIZATIONS HELD ON FRIDAY MAY 13, 2016

CBN And IMF Denies Devaluation Rumours But……..

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The Central Bank and the International Monetary Fund (IMF) have both come out to deny that the government has devalued the naira to N290 to $1 as reported by New York based Sahara Reporters. The report also claimed that the devaluation was on the insistence of the IMF putting it as a condition for granting any loans.

Continue reading CBN And IMF Denies Devaluation Rumours But……..

Exchange Rate Mechanism, Exchange Rate and Devaluation by Dr Anthony Ani (Ex Finance Minister)

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Being the full text of a keynote address titled “OF EXCHANGE RATE MECHANISM, EXCHANGE RATE AND DEVALUATION” presented at the induction ceremony of new members of the Institute of Chartered Accountants of Nigeria (ICAN) on Wednesday, May 11, 2016.

 

INTRODUCTION
I was asked to deliver a keynote address lasting 25 minutes on a topic of my choice about the profession or the economy. I have chosen the topic “Of Exchange Rate Mechanism, Exchange Rate and Devaluation” because exchange rate has an impact on every Nigeria citizen young or old, man or woman. We are an import dependent nation and since exchange rate is the price of our currency in terms of the dollar which we use to pay for our imports, it must impact on the economy, Apart from this, our exchange rate has moved from $2 per N1 to N199 to $1 between 1985 and 2016 yet, the IMF, United States of America and other international Banks have urged Nigeria to further devalue our Naira. Even nearer home, recently the immediate past President of ICAN has added his voice to the devaluation of the Naira.

 

I hold the view that our Naira is even undervalued and should not be devalued. President Buhari should continue to resist the pressure to devalue. There is nothing to gain from devaluation since we do not export anything significant except our crude oil. Any devaluation will further worsen our economic situation and will send the cost of all our imported goods to the skies. Already, our imports are the most expensive in the world.

  Continue reading Exchange Rate Mechanism, Exchange Rate and Devaluation by Dr Anthony Ani (Ex Finance Minister)