Freight forwarders under the aegis of National Association of Government Approved Freight Forwarders NAGAFF, have petitioned the Federal Government over alleged excesses of the Standards Organisation SON, especially in the arrest and detention of containers genuinely examined and released from the seaports and border stations by statutorily approved government agencies to perform such functions. Continue […]
The Nigerian Stock Exchange (NSE) may pick 20 companies out of the 30 stocks that made up its NSE 30 Index to form its new premium board. The NSE 30 Index tracks the 30 most capitalised stocks at the stock market. The proposed premium board will be NSE’s exclusive board with its listing rules and […]
The Independent National Electoral Commission (INEC), charged with the responsibility of conducting elections, is pushing for code of conduct on media reportage of elections, it hopes will be ready before the 2015 general elections. The basis for the code of conduct, which it is developing in conjunction with some organisations and support from UNDP, is […]
The Nigerian Stock Exchange, NSE, has announced plans to revoke licences of Stockbroking/Dealing member firms that are inactive for six consecutive months in the capital market transactions. The exchange stated that the move was to maintain the integrity of the capital market and further protect investors in Nigeria. According to a statement from the NSE” The […]
The Lagos Chamber of Commerce and Industry (LCCI), has urged the Central Bank of Nigeria (CBN) to rethink its policy that barred certain businesses and their promoters from obtaining fresh loans from the banks. Its President, Alhaji Remi Bello, who spoke when he led executives of LCCI on a visit to Origin Group Limited in […]
The forensic audit commissioned by the federal government on the Nigerian National Petroleum Corporation (NNPC) will be concluded this month by the US-based firm, PriceWaterhouseCoopers (PwC), Daily Trust has gathered. The objective of the audit is to ascertain the true position of the accounts of the corporation and its subsidiaries after the allegation of a […]
The Central Bank of Nigeria, CBN has confirmed more than 90 per cent of the banks operating in the country have complied with its directive to install Anti-Scheming devices on their Automated Teller Machines, ATMs. The Anti-Scheming device is to help protect banks’ customer against fraud from fraudsters that uses various means. Continue Reading
The Nigeria Customs Service (NCS), Federal Operation Unit (FOU) Zone ‘A’, Ikeja, Lagos has made a huge catch, seizing N600 million worth of exotic vehicles. It made the seizure following the bursting of a smuggling ring that specialises in importing vehicles through the seaports without paying duty, The Nation learnt. Continue Reading
THE Niger Delta Indigenous Movement for Radical Change (NDIMRC), said it would resist attempts by Royal Dutch oil giant, Shell Petroleum Development Company (SPDC) and other multinational oil companies to frustrate the Nigerian Local Content Law. It implored the Minister of Petroleum, Mrs. Diezani Alison-Madueke to call the oil companies to order. Continue reading
In an effort to curb the rising level of commercial piracy of Pay TV signals, MultiChoice, Nigeria’s leading provider of premium pay entertainment, has urged individuals or entities that use DStv services for public use without a commercial licence to get a commercial licence to enable them broadcast DStv content without litigation. Continue Reading
The Nigerian Stock Exchange (NSE) is insisting that dealing members must confirm all client orders or mandates made by fax, telephone (voice or text) or electronic email before execution. The Exchange said this decision arises because it has observed an increasing trend of cyber fraud and scam mail sent by fraudsters/impersonators to Dealing Member Firms. […]
A fresh crisis is brewing in the pension sector as federal retirees are spoiling for yet another showdown with the Chairman of the Association of Federal Public Service Retirees, Chief Emmanuel Omoyeni, accusing the leadership of the National Union of Pensioners, (NUP) led by Alhaji Ali Abacha of complicity in the alleged missing N2.7 billion pension […]
There is scarcely any organization that does not have integrity listed as a value, and for some, plaques highlighting integrity are placed on walls around the organization. However, what does it mean in reality to be a business with integrity? The businessdictionary.com defines integrity in the following ways: 1.Strict adherence to a moral code, reflected […]
Recently I found myself uncertain about the best course of action to take and wished I had a code to consult to guide my decision making in the area I faced uncertainty. I am sure this kind of uncertainty is experienced in various organizations around the world. A code of conduct is an organization’s uncertainty […]
The rising incidence of electronic fraud in the banking industry has remained a source of concern to operators in the industry. Data gathered by the Financial Institutions Training Centre (FITC) showed that electronic fraud has been on an upward trend since 2010. This is even more worrisome because the increase has been both in terms of […]
Apparently worried by the outcome of the 2015 election foreign investors are beginning to scale down their level of investment in Nigeria as witnessed by marked slowdown in investment inflows in first quarter of this year. Continue reading
THE Institute of Chartered Accountants of Nigeria (ICAN) and the Financial Reporting Council of Nigeria (FRC), last week, launched series of shared initiatives among which is blocking alleged fraudulent accounting practices employed by Asian companies to defraud the country. Continue Reading
GSK – one of the few big firms still supplying drugs in Syria – said on Monday it would investigate the new claims involving its own staff and local distributors. The company added it had suspended relations with its Syrian distributors pending results of the probe. The attack on the drugmaker’s ethical standards follows a […]
In the wake of the 2008 financial crises, the Central Bank created over N4000bn fresh Naira supply, inspite of its attendant inflationary threat, to rescue the Nigerian banking sector. Evidently, however, the bountiful profit figures declared lately by several banks would be clear testimony that, business is presently good in the sub-sector, particularly when compared […]
The Nigerian Stock Exchange (NSE) has investigated and indicted 29 stockbroking firms and four stockbrokers for alleged unauthorized sale of their clients’ shares. A report on shares fraud, also known as unauthorized sales of investors’ shares, indicated that several stockbroking firms surreptitiously sold their clients’ shares and diverted the proceeds. The report by the Nigerian […]