The precipitous depreciation of the naira, Nigeria’s currency against the US dollar since the last quarter of 2014, seems to be creating confusion in the market place. While the sag in oil prices justified the weakening of the naira, it also presage further troubles for the growth of the Nigeria economy. Of course, since last […]
The Managing Director of Academy press PLC, Mr. Gbenga Ladipo has explained that the company did not ask the government to impose tariff on imported books. Ladipo stated this recently, in Lagos, during the company’s customers’ forum. He said the printers asked for the elimination of tariffs on imported materials so that it can be […]
A recent business headline in the newspapers reported that foreign investors pulled N846.5 billion from the Nigerian Stock Exchange as a reaction to the uncertainty about the Nigerian economy arising from the cocktail of falling oil prices, a massively depreciating Naira and fears of post-election violence. Similarly, the share price of some financial institutions is […]
The Federal Government says it will henceforth disallow the discharge of ships calling at the nation’s seaports and other facilities with armedforeign private guards as part of measures to check the influx of illegal arms into the country. The Federal Government had last year in response to the security situation in the country as well […]
The Nigerian National Petroleum Corporation (NNPC), has warned that the frequent attacks on its gas pipelines is affecting the country’s credibility as a gas supplier to West African countries. The Corporation Executive Director, Gas and Power, Dr. David Ige said on a national television programme on Monday that besides the amount of millions of Naira […]
An activist who climbed the rooftop of the Head of Service building in 2012 to protest against the looting of pension funds has said that he has no regrets for his action as it yielded fruit. Mr Okenwa Enyeribe, who runs a Non-Governmental Organisation (NGO) known as the Revolutionary Council of the Nigerian People, was […]
There are strong indications that the Nigerian Civil Aviation Authority (NCAA) might be headed for severe financial crisis owing to alleged mismanagement of its funds by succeeding heads of the regulatory body. It was gathered that some of the past heads of the agency frittered away the money that accrued from the 5 per cent […]
Thousands of small farmers in north-eastern Nigeria are facing eviction from their ancestral lands without consultation or compensation to make way for a U.S.-owned rice plantation, according to a report yesterday. A new 30,000 hectare rice plantation, owned by Oklahoma based Dominion Farms, will displace up to 40,000 people in Taraba state, said Mariann Bassey […]
In our quest to consistently encourage businesses to be part of The Convention on Business Integrity vision, we are pleased to formally inform our stakeholders that a new member has joined the Convention fold. Vodacom Business Nigeria, a wholly-owned subsidiary of the Vodacom Group and also a leading pan-African corporate connectivity and telecommunications provider that […]
Against the backdrop of the impact of the plunge in global oil prices and the resultant devaluation of the naira, the asset quality of Nigerian banks could deteriorate over the next 12 to 24 months, FBN Capital Limited has said. The investment banking and asset management subsidiary of FBN Holdings Plc, in its newly released […]
Access Bank Plc yesterday, received recognition from the Lagos State Internal Revenue Service (LIRS) for achieving 100 per cent tax compliance. The Lagos State Governor, Babatunde Fashola presented the award to the bank. Receiving the award, the Group Managing Director, Mr. Herbert Wigwe, said the lender is grateful to be so recognised as a tax […]
News of the torrent of terrorism attacks perpetuated by Boko Haram in northern Nigeria often reports that Boko-Haram has access to weapons and machinery that are sophisticated, more so than the military’s. One report of the Chibok girls’ adoption alleged that the terrorists arrived in a fleet of brand new Toyota buses.
Probably most Silicon Valley entrepreneurs are familiar with Moore’s Law, the observation from Intel co-founder Gordon Moore that “the number of transistors incorporated in a chip will approximately double every 24 months.” But there’s another, equally important idea that perhaps they should acquaint themselves with: concepts developed by the business thinker and LRN CEO Dov […]
Ghana’s President, John Mahama, has said that Nigeria paid Ghana the amount of $10 million as penalties for defaulting to deliver the quantity of gas spelt out under the West African Gas Pipeline project. According to GhanaWeb reports, the president also said that the power plants that rely on gas from the West Africa Gas […]
Director Liability Insurance known otherwise as Director and Officers Liability Insurance (D&O) which is somewhat synonymous with corporate indemnification, is insurance protection for Directors against claims which arise from the actions (and failure to act) taken (or not taken) by them in the performance of their statutory duties. D & O Insurance is usually taken […]
Nigeria’s Minister of Aviation, Mr. Os¬ita Chidoka, has described the local gov-ernment administration as a cesspit of corruption through which an estimat¬ed N1.5 trillion of the na¬tion’s statutory allocations are drained annually. He said this phenomenon has left majority of citizens living at the grassroots in ab-ject poverty. Continue Reading
Residents of some parts of Ogun State have raised the alarm that they are being visited by suspected imposters who pretend to be officials of the state government, and demand for money to cover the cost of transportation, which is outside the requirements of the Homeowners’ Charter. Continue Reading
The Central Bank of Nigeria, CBN, has said that its cashless policy had contributed to a reduction in the spate of kidnapping in the country. The bank’s Branch Controller in Enugu, Patrick Okonkwo, said at the weekend that the policy had made it impossible for people to raise the large ransoms demanded by kidnappers. Continue […]
Fourteen months after the Federal Government privatised the power sector, about 8,000 employees of the defunct successor companies of the Power Holding Company of Nigeria have not been paid the severance benefits. Some of the affected workers staged a protest at the headquarters of the PHCN in Abuja on Monday after they were allegedly issued […]
Guaranty Trust Bank Plc, has been awarded ‘Best Corporate Governance, Africa’, for the financial services category by the Ethical Boardroom Magazine UK. The award recognises outstanding companies that have exhibited exceptional leadership in the area of governance and professional ethics to ensure protection and long-term value for all their stakeholders. The award is an acknowledgement […]