Aso Villa Reads for 23/09/2019
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
In yet another significant milestone for the Nigerian capital market, FMDQ Securities Exchange Plc (FMDQ Exchange or the Exchange), having positioned itself as an innovative and pacesetting financial market infrastructure group, announced the operationalization of its wholly-owned central securities depository (CSD), FMDQ Depository Limited (FMDQ Depository or the Depository), o August 5, 2019. Therefore, as a strategically-positioned CSD, FMDQ Depository will complement the clearing functions discharged by FMDQ Clear by providing the requisite framework for collateral catching, asset servicing and settlement services in the Nigerian financial markets, offering market participants an unrivalled opportunity to experience enhanced straight-through-processing. Business Day reported (Page 1).
According to Business Day (Page 47), the Nigerian Union of Pensioners (NUP) has commended the efforts of the Pension Transitional Arrangement Directorate (PTAD) in resolving pension related issues. Musa Ayuba, NUP, National Deputy President who led the National leadership team in a courtesy visit to the new Executive Secretary of PTAD in Abuja, commended the Directorate’s efforts to put smile on their faces by ensuring prompt attendance to their need, while assuring of the continuous support of Nigeria Union of Pensioners. Business Day, Page 46 He said, “before the advent of PTAD, there was no official record for pensioners, no database anywhere, but today, that has become a thing of the past. Endless and stressful verification is also gone for the better. Now pensioners are better recognized and treated with some respect. Monthly pension is being paid as and at when due in the last 4 years.”
At the 2019 Presidential dialogue on the economy organized by the Lagos Chamber of Commerce and Industry (LCCI), Adebayo Adeniyi, Minister of Trade, Investment and Industry, who represented the President and Vice President, said border closure was initiated to achieve security and position Nigeria to reap full benefit of the recently signed African Continental Free Trade Area (AfCTA) agreement. “The border closure is a security issue and the action has been taken to enable the security agencies of government to secure the nation. What the government is trying to achieve is that at the point when the borders are eventually opened, Nigeria will not be a dumping ground upon AfCTA implementation,” Adebayo said, as reported by Business Day (Page 26).
