CBN has done a good job in defending the Naira lately, but where did the firepower to defend the Naira come from? Remittances and Foreign Portfolio Investments (hot money). This is why a lot of folks are uncertain about the sustainability of the recent rally. Will remittances continue to flow like it did when a dollar was exchanging for N1,500-N1,700 ish? Will foreign investors continue to inflow funds to buy government bills and bonds? No one is certain. Plus, FPIs are called hot money for a reason.

#DearAccountants

Are you developing skills that won't be automated? Let me rephrase the question, what should you learn today so that you will have a job in the future?

With the growth of internet, proliferation of smartphones, and development of machine learning systems, a lot of repetitive & routine jobs are being automated. Now, more than ever, is the time to develop skills that aren't about to be automated.

Let's see some examples of these skills.

"A tenth of what I earn is mine to keep" is perhaps one of the most profound lessons learnt in the Richest Man in Babylon book.

As simple as the principle is, it will take diligent execution to really unearth the magic in it.

To be clear, the 10% is a minimum which means that no matter the level of your income, you should save 10%. The 10% is not for rent payment or children's school fees but what you save after meeting all these needs.

If you struggle to save this 10% because the 100% is not even enough, you may have to look for ways to earn

It was an honour to speak at the 4th Annual CFO Africa Conference alongside CFO of ESKOM South Africa, Finance Director of Unilever Kenya, CEO of Botswana Stock Exchange, Finance Director of Cadbury Nigeria amongst others. I spoke on “Cyber and the CFO” and in this thread I will do a summary of my major talking points.

Many people wonder if there is any correlation between the role of a CFO and a company’s cyber security processes and procedures.

Here is the most recent ARM's stock recommendation. Don't be too scared to take risk. YOLO!

Personal Note:
1. Don't buy stocks if you can't keep the money away for at least 1 year. If you invest your rent money that is due on 1st January in stocks, it MAY end in premium tears. 2. No amount is too small, just start from somewhere N50K, N100Ketc

3. It is important that you understand the concept behind the investment house's rating. Most times, they rate a stock for a BUY because of a significant UPSIDE POTENTIAL (UPP) that they have estimated could be

Dear Accountants,

Last week, one of our vendors sent an email challenging the WHT deduction on his invoice. Even though the transaction seemed straight forward to me and didn’t quite expect any challenge from the vendor, he insisted we were wrong. I asked my payable accountant to respond and explain why the deduction was right. He did but the vendor countered his argument in another email. The Accountant then responded again with a simple analogy and so the matter was laid to rest.

Dear Accountants,

On Monday, I wrote an exam that required a lot of calculations. But guess what? All formulae required to do the calculations were provided in the formula sheet. Just turn to the formula page and apply them. Does it now mean everyone that wrote the exam would pass? NO! What was being tested was the application of the answer that you just calculated! So, the answer is -1.63%, that's fine! But what does it mean? What decision can you make from the answer you just got?

On 14th September 2009, exactly 10 Years ago, I walked into Golden Gate Restaurant, the venue of KPMG Audit Trainee Program. We used to call it KBAC back then.
We were there for three weeks and it was an awesome experience. For a graduate of Chemistry, everything taught was Greek at first but the instructors were amazing. Instructors like Yomi Ajijola, Chineme Nwigbo really did their best to impart accounting knowledge. They made the program really worthwhile.

Like the debt puzzle, we should debate the current World Bank's 2019 doing business report as it concerns Nigeria.
Did Nigeria improve or deteriorate? Five-year summary of Doing Business scores and rankings for Nigeria.

More accurate than Premium times. Someone needs to fact-check the fact-checker too though. Will do a thread later this evening.

https://twitter.com/BudgITng/status/1057182823474438144

Source: DMO
goo.gl/16bTAJ
goo.gl/LGrwdf

So I collected my PVC today. Will do a thread later today to share my experience. I registered for my PVC on 5th February 2011 at 14:15pm. After the photo capture and a little fiddle on their machine, I was handed a TVC (Temporary Voter's Card)

For some strange reasons, I just believe the much touted Nigeria's Tax to GDP ratio of 6% is not correct. Then I tried searching the web to see if I could find any basis for this figure. The only thing I found were just quotes and statements made by Mr Fowler and @HMKemiAdeosun. No report or calculations to substantiate the figure being bandied around. (It could be that I didn't search well though)

So I decided to calculate the tax to GDP the way I understand it. See below:

I stumbled upon the Key Audit Matters (KAM) in Dangote Cement's 2017 Financial Statements. One that caught my attention is the KAM on tax liabilities on income expected to be on tax holiday (Pioneer). What are tax holidays? A government incentive program that offers a tax reduction or elimination to businesses. Tax holidays are commonly used by governments in developing countries to help stimulate foreign investment. See details here: goo.gl/cn4iMM

Japaul has some ‘harsh’ words for the ‘negative press’ that crashed its share price

nairametrics.com/japaul-has-som… Milost's (prospective) investees are really vexing☹️. Just in case you don't have time to read the story in the link, here is an excerpt from Japaul's statement:

Still on the land use charge... I was privileged earlier today to be taught by Professor Robert Shiller (Sterling Professor of Economics at Yale and Nobel Laureate), he taught about how he founded a company, Case Shiller Weiss Inc. In the 1990s. Case Shiller Weiss Inc was setup to offer online mortgage service. It was the first of its kind in the early 1990s.