Diamond Bank Plc, last week announced the appointment of Dr. Chris Ogbechie as new chairman of its board of directors following the retirement of Igwe Ugochukwu Nnaemeka Achebe who has led the board since January 1, 2007. The bank, in a notice dated January 13, 2015, to the Nigerian Stock Exchange (NSE), signed by Nkechi […]
Rising cases of electronic frauds, especially Automated Teller Machine-related scams, which have made Deposit Money Banks to lose billions of naira in recent times, have forced some of the lenders to prevent their payments cards from working in the United States of America, China and a few other countries. It was gathered that the banks […]
Importers and customs brokers at the weekend criticised terminal operators and shipping companies for continued collection of some shipping charges in violation of the order of a Federal High Court. The stakeholders specifically accused members of the Seaports Terminal Operators Association of Nigeria (STOAN) and the Association of Shipping Lines Agency (ALSA) of indulging in […]
Not every technology entrepreneur has a coat of arms. But Ken Olisa is not the usual City grandee. With pride he shows the Olisa heraldic shield – a medieval-style crest with a design of red diamonds and green stars crowned by a red lion, and the motto “Do Well, Do Good”. The motto fits perfectly […]
AFREN Plc has settled a dispute with its former Chief Executive Officer (CEO) and Chief Operating Officer (COO) who were fired after receiving payments without board’s approval. The United Kingdom’s oil and gas explorer, which is currently on the trail of a Nigerian firm’s takeover talks, had secured $17.1 million from former CEO, Osman Shahenshah […]
In recognition of its outstanding commitment to upholding the highest levels of corporate governance, Transcorp has been awarded the Company Award for the Most Compliant Firm in Nigeria by the Nigerian Stock Exchange at a distinguished ceremony held on Friday in Lagos. The award was given to the company to demonstrate its compliance with the […]
Nigeria took a very important step when it launched its Corporate Governance Rating System (CGRS). The Nigerian Stock Exchange working in partnership with The Convention on Business Integrity achieved this feat. But how will the CGRS make a difference to Nigeria’s economy, its companies or investors?
This project was birthed from the realization that there is a need to establish an Integrity Pact binding on Private Sector and the Senegalese government authorities (customs duties and Tax buy in of all stakeholders; authorities) to eradicate corruption, one that meets international best practices in doing business and good governance. The Integrity Pact favors […]
The Federal Government on Wednesday unveiled the criteria to be used in the selection of the top 100 companies in Nigeria. The top 100 companies award, which is the first in the history of the country, is a brainchild of President Goodluck Jonathan. The award, scheduled to hold on December 1, is aimed at encouraging […]
The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Wednesday disclosed that 50 biggest bank debtors accounted for 32.02 per cent of lenders’ total loans to the private sector as of May 2014. The governor, who made this known at the second National Credit Bureaux conference in Lagos, however, said the central bank was […]
In the wake of volatile global market, Nigeria continues to attract significant foreign investors interest, the recent being from United Kingdom who sent delegates to Nigeria. Shortly after an MOU was signed by the London Stock Exchange Group and Nigerian Stock Exchange (NSE), Sir Roger Gifford, former Lord Mayor of London and Co-Chairman of the […]
A former Vice Chancellor, University of Benin, Prof Abhulimen Anao, has said professional practice in the country is under threat due to the prevalence of corruption. He said although Nigeria was not the only country where corruption posed ethical problems, what distinguished other countries from Nigeria was their ability to investigate, apprehend, prosecute and punish […]
The Nigeria Stock Exchange (NSE) recently experience sharp decline in market capitalization due to foreign investors exit from the market in apprehension of the impact of the decline in price of crude oil on the naira exchange rate. Commenting on this development, some shareholders who spoke to Investors Forum described the foreign investors as casino players, […]
Small and medium sized businesses are very important to the economy. They generate employment and are the main drivers of economic growth. However, various sources report that a significant proportion of SMEs do not survive beyond the first 5 years and even when they do, they are not usually passed from one generation to another. […]
The Outdoor Advertising Association of Nigeria (OAAN) has cautioned politicians and other individuals engaged in indiscriminate and illegal installation of billboards for campaigns, saying that such act will impact negatively on the environment as well as create new challenges for the industry. Rather, the association advised that it is only those companies that are within […]
The Ministry of Power has advised Kano State Government to follow due process in obtaining all requisite approvals before commencement of any hydro electricity project in the state. The Special Adviser to the Minister of Power on Investment, Finance and Donor, Olajuwon Olaleye, told The Nation at a conference in Lagos that as much as […]
Over 70 per cent of textile workers in Nigeria have lost their jobs to closure of textile manufacturing companies and fake clothing materials from China, just as global counterfeiting estimate could hit N1.7trilion by next year, an Executive of International Trademark Association (INTA), Lara Kayode, has said. Speaking on the sidelines of a stakeholders’ summit […]
The Commissioner for Insurance, National Insurance Commission, Mr. Fola Daniel, has said it is equipping Independent Corrupt Practices and Other Related Offences Commission with knowledge on insurance operations to enable it to effectively rid the sector of corrupt practices. He said this during a workshop on insurance regulation and practice organised by NAICOM for the […]
In a well-attended event with over 500 people, the Convention on Business Integrity and the Nigerian Stock Exchange launched the corporate governance rating system. (CGRS) on November 3 at Intercontinental Hotel, Lagos. At the event, CGRS, Nigeria’s flagship rating system was introduced to various market players including domestic and international investors, listed companies, international organizations […]