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CIMA Offers 50% Discount, Fast Track Route

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CIMA

The Chartered Institute of Management Accountants (CIMA) has launched a special offer of 50 per cent off its standard registration fee for Masters of Business Administration (MBA) and Masters of Science (MSc) in accounting holders, as well as chartered accountants.

The special offer, which closes 31 December 2016, allows Nigerians with the relevant degrees to extend the global reach of their career by obtaining the Chartered Global Management Accountant (CGMA) designation.

This designation for management accountants, the company said in a statement, is recognised the world over as the most relevant finance qualification for business and is powered by the expertise and resources of CIMA and American Institute of Certified Public Accountants (AICPA).

CIMA Nigeria Country Manager, Ijeoma Anadozie said: “In today’s volatile, uncertain, complex and ambiguous business environment, high-quality decision making has become more important or more difficult. Integrated thinking is the future. Remarkably, the CIMA curriculum has been designed to produce integrated thinkers who are in high demand in top organisations because they perform consistently better than industry peers. And against the backdrop of Naira’s deprecation, we see this as the way to make CIMA more accessible to a greater number of business, finance and accounting graduates and professionals.”

The Country Manager disclosed that CIMA’s accelerated route has been extended to chartered accountants, MSc in Accounting and MBA holders in Nigeria.

The route, according to her, grants 12 exemptions out of 17 papers, leaving applicants just five papers to write after the initial assessment.

“Successful candidates are also awarded the CIMA Advanced Diploma in Management Accounting, entitling them to use of the professional letters CIMA Ad Dip MA. The CIMA founded in 1919, is the world’s leading and largest professional body of management accountants, with over 227,000 members and students in 179 countries, working at the heart of business. CIMA members and students work in industry, commerce, and the public sector and not-for-profit organisations.

“CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers’ choice when recruiting financially-trained business leaders. Professionalism and ethics are at the core of CIMA’s activities with every member and student bound by robust standards so that integrity, expertise and vision are brought together, “she said.

CIMA, she stated, has formed a joint venture with the American Institute of CPAs (AICPA) to establish the Chartered Global Management Accountant (CGMA) designation.

“CGMA is the global quality standard that further elevates the profession of management accounting. The designation recognises the most talented and committed management accountants with the discipline and skill to drive strong business performance. CIMA is proud to be the first professional accounting body to offer a truly global product in the fast-moving area of Islamic Finance, “she said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Communities in Delta State Shut OML30 Operates by Heritage Energy Operational Services Ltd

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Oil

The OML30 operated by Heritage Energy Operational Services Limited in Delta State has been shut down by the host communities for failing to meet its obligations to the 112 host communities.

The host communities, led by its Management Committee/President Generals, had accused the company of gross indifference and failure in its obligations to the host communities despite several meetings and calls to ensure a peaceful resolution.

The station with a production capacity of 80,000 barrels per day and eight flow stations operates within the Ughelli area of Delta State.

The host communities specifically accused HEOSL of failure to pay the GMOU fund for the last two years despite mediation by the Delta State Government on May 18, 2020.

Also, the host communities accused HEOSL of ‘total stoppage of scholarship award and payment to host communities since 2016’.

The Chairman, Dr Harrison Oboghor and Secretary, Mr Ibuje Joseph that led the OML30 host communities explained to journalists on Monday that the host communities had resolved not to backpedal until all their demands were met.

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Crude Oil Recovers from 4 Percent Decline as Joe Biden Wins

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Oil Prices Recover from 4 Percent Decline as Joe Biden Wins

Crude oil prices rose with other financial markets on Monday following a 4 percent decline on Friday.

This was after Joe Biden, the former Vice-President and now the President-elect won the race to the White House.

Global benchmark oil, Brent crude oil, gained $1.06 or 2.7 percent to $40.51 per barrel on Monday while the U.S West Texas Intermediate crude oil gained $1.07 or 2.9 percent to $38.21 per barrel.

On Friday, Brent crude oil declined by 4 percent as global uncertainty surged amid unclear US election and a series of negative comments from President Trump. However, on Saturday when it became clear that Joe Biden has won, global financial markets rebounded in anticipation of additional stimulus given Biden’s position on economic growth and recovery.

Trading this morning has a risk-on flavor, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market strategist at CMC Markets in Sydney.

“The outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.”

The president-elect and his team are now working on mitigating the risk of COVID-19, grow the world’s largest economy by protecting small businesses and the middle class that is the backbone of the American economy.

There will be some repercussions further down the road,” said OCBC’s economist Howie Lee, raising the possibility of lockdowns in the United States under Biden.

“Either you’re crimping energy demand or consumption behavior.”

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Nigeria, Other OPEC Members Oil Revenue to Hit 18 Year Low in 2020

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Revenue of OPEC Members to Drop to 18 Year Low in 2020

The United States Energy Information Administration (EIA) has predicted that the oil revenue of members of the Organisation of the Petroleum Exporting Countries (OPEC) will decline to 18-year low in 2020.

EIA said their combined oil export revenue will plunge to its lowest level since 2002. It proceeded to put a value to the projection by saying members of the oil cartel would earn around $323 billion in net oil export in 2020.

If realised, this forecast revenue would be the lowest in 18 years. Lower crude oil prices and lower export volumes drive this expected decrease in export revenues,” it said.

The oil expert based its projection on weak global oil demand and low oil prices because of COVID-19.

It said this coupled with production cuts by OPEC members in recent months will impact net revenue of the cartel in 2020.

It said, “OPEC earned an estimated $595bn in net oil export revenues in 2019, less than half of the estimated record high of $1.2tn, which was earned in 2012.

“Continued declines in revenue in 2020 could be detrimental to member countries’ fiscal budgets, which rely heavily on revenues from oil sales to import goods, fund social programmes, and support public services.”

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