Not too long ago, Brazilian regulators were forced to levy a tax on capital inflows to stem the rising value of the real, as foreign investors flocked to the South American giant that had become a paradise of investment in the aftermath of the global financial crisis that left the rich countries of the world […]
The Nigerian Stock Exchange (NSE) has discovered unscrupulous trading on its trading engine due to activities of some stockbroking firms which are providing passwords and access to unauthorised persons to trade on the stock market’s trading engine. The discovery has triggered a red alert at the Exchange, which fears that such provision of access codes, […]
For investors that want regular flow into their account, Zenith bank seems to be offering attractive income considering its performance for the financial year ended December 31, 2014. Just last week, the bank share price led other 40 stocks, gaining 17.3 per cent as at Friday to close at N20.94 per share, from the opening […]
The Nigerian Senate on Thursday queried the Securities Exchange Commission for spending money “illegally”. The Commission, at the briefing of the implementation of its 2015 budget organised by the Senate Committee on Capital Market, was accused of illegally spending money from the 2014 budget without approval by the National Assembly. The senate complained that the […]
On International Women’s Day 2015 ( #IWD2015) the ‘to-do’ list seems absolutely endless. But, in terms of publicly listed businesses and better corporate governance, it really should not be that hard. Is it possible that it is harder simply because it is about sharing power at the top? In the UK, with a general election […]
An oil leak from Seibou Deep facility operated by Shell Petroleum Development Company has been discharging crude into Ogboinbiri River in Bayelsa. Residents of the coastal settlements in Ogboinbiri and neigbouring communities say the oil leak has damaged the fishing activities of the people. Some residents who depend on the river for drinking and domestic […]
In spite seeing crude oil prices drop to unprecedented levels since July 2014, the federal government is not contemplating removing fuel subsidy and deregulating the downstream sector of the petroleum industry, PREMIUM TIMES can confirm. Removing fuel subsidy could save huge billions spent annually by government in subsidizing retail fuel price, while deregulation allow market […]
Insurance is a contract between an insurance company and its client in which the insurance company agrees that on the happening of certain events the insurance company will either make payment to its client or meet certain costs. Therefore, as an insured, if you have suffered any loss on your insured asset or property, your […]
Source: Fund for Peace The chart above demonstrates the long-term trends, year-to-year, for the Social and Economic Indicators for Nigeria. Upward movements represent worsening trends, while downward movements represent improving trends.
The Chairman Governing Board of National Environmental Standards and Regu lations Enforcement Agency, NESREA, Barrister Huzi Mshelia, in this interview with OLUFEMI ADEOSUN, hinted of the Council’s plans to compel multinational companies and other business entities to pay more fines for unbridled act of environmental degradation in any part of the country. Continue Reading
AT least $400,000 (about N88million), was reportedly paid as ransom to secure the release of three seafarers kidnapped from the Greek VLCC Kalamos, off Nigeria’s coast on February 3. The seafarers, two Greeks and a Pakistani, were taken hostage three weeks ago off the coast of Nigeria in a bloody attack on the Greek oil […]
The Securities and Exchange Commission on Tuesday unveiled an Anti-Corruption and Transparency Monitoring Unit to overcome the menace of public corrupt practices. The Acting Director-General of the commission, Mr Mounir Gwarzo, said the unit would be allowed to function with the required level of autonomy liaising directly with his office to give its operations more […]
The Major Oil Marketers Association of Nigeria (MOMAN) yesterday suspended further importation of fuel, pending when the Federal Government settles the N264 billion subsidy arrears owed it. Executive Secretary of MOMAN, Mr. Obafemi Olawore,said the association was forced to take the decision as a result of the failure of banks to grant further credit facilities […]
THE pioneer Managing Director of the Ibadan Electricity Distribution Company (IBEDC), Fortunato Leynes, has resigned his appointment with the company. IBEDC is one of the survivor companies of the unbundled Power Holding Company of Nigeria (PHCN) after its privatization by the Federal Government. It handles electricity distribution in Oyo, Ogun, Osun, Ekiti, Kwara and part […]
THE Securities and Exchange Commission, SEC has approved the suspension of Rule 42 (5)(e) of the Consolidated Rules and Regulations of the Commission for 90 days, effective February 25, 2015. The announcement of the suspension was released yesterday at the commission’s website. The suspended rule provides: “Membership of an Audit Committee shall be for a […]
Following the directive by the office of the Accountant-General of the Federation (OAGF) that existing revenue accounts in Deposit Money Banks (DMBs) be closed not later than February 28, 2015, banks will officially begin the transfer of available Ministries, Departments and Agencies (MDAs) funds to the Consolidated Revenue Fund (CRF) today. Continue Reading
The Federal Government can save over N304.57 billion from the 2015 budget proposals currently undergoing consideration before the National Assembly if wasteful expenditures smuggled into the document are weeded out. This was revealed by a Civil Society Organisation (CSO), Citizens Wealth Platform (CWP), at a recent press briefing in Abuja on unclear and wasteful votes […]
Global rating agency, Fitch Ratings, has predicted that bank’s non-performing loans will rise above five per cent by the end of this year. It said the recent oil price shock and subsequent currency pressure had weakened the Nigerian operating environment and was likely to result in lower Gross Domestic Product growth in 2015. In turn, […]
Apple Inc has been ordered to pay $532.9 million after a federal jury found its iTunes software infringed three patents owned by Texas-based patent licensing company Smartflash LLC. Though Smartflash had been asking for $852 million in damages, the verdict, which came late Tuesday night, was still a costly blow for the U.S. tech giant, […]
In its 2013 report, the Africa Progress Panel led by Kofi Annan estimated that Africa loses twice as much in illicit financial flows as it receives in international aid. This is one of many snippets of fact about the huge costs of corruption on Africa and on Nigeria in particular. It is important that businesses […]