Telecoms subscribers in different parts of the country have expressed disgust at what they call illegal deductions being made by the telecommunications companies for the services being rendered by the firms. Some of the subscribers told our correspondent that some latent but punitive measures allegedly being perpetrated by the Global System of Mobile telecommunication service […]
FROM the expected growth in the numbers of new registrations, increase in contributory rates, to the accumulation of more fund by the Pension Commission (PenCom), which are positive developments of the newly signed pension Act, there are however, emerging challenges of bureaucracy in implementing some of the contents and probable difficulties that would beset small […]
These are not the best times for Mrs. Nkiru Okere, Managing Director of Nkylinks Business Concept Limited, a firm dealing in imports and exports. Having sought to purchase used motor spare parts worth about N4, 000, 000 from Dubai in January, the business dealing which involved her husband, brother-in-law and his younger brother seems to […]
National Food, Drugs Administration and Control (NAFDAC), has been indicted over non-remittance of N1.439 billion operational surplus to the Federation Account. The development, according to the Fiscal Responsibility Commission (FRC), contradicts the Fiscal Responsibility Act of 2007, Section 2 of which makes it mandatory for government agencies to remit certain percentage of their operational surplus […]
The Central Bank of Nigeria has said it will sanction banks that prevent their employees from joining labour unions or other associations. The CBN, which said it had received information that some banks had been preventing their employees from exercising their fundamental human rights, explained that deposit money banks, discount houses and development finance institutions […]
Soji Apampa, Executive Director of the Convention on Business Integrity, was a participant and speaker at the 14th meeting of the UN Global Compact Working Group on the 10th principle against corruption held in Geneva from June 23 – 24, 2014.
In developing an appropriate corporate governance framework, should Nigeria copy international paradigms that may or may not fit our context? Should we borrow wholesale the rules-based or principles-based approaches to corporate governance or would we be better off developing our own unique response based on lessons from these international approaches? The role of sound corporate […]
Corporate governance is at the heart of how businesses are run. According to the Organization for Economic Cooperative Development (OECD), “corporate governance involves a set of relationships between a company’s management, its boards, its shareholders and other stakeholders”. Corporate governance, broadly speaking, includes board efficiency, transparency, reporting requirements, investor communications and sustainability. Corporate governance includes […]
All over Nigeria, it is common to see small contributory savings schemes where market women contribute a daily portion of their trading profit to a collective. What are the characteristics of these groups that make it work and what lessons can corporate Nigeria learn from these groups to ensure that as a group, they maintain […]
The Standards Organisation of Nigeria (SON) has raided the popular Lagos Computer Village, Ikeja where it confiscated suspected substandard telephone handsets worth over N200 million. According to the its Head of Intelligence and Compliance Directorate, Bede Obayi, who spoke after the operations, the exercise was diligently carried as a result of its surveillance team reports […]
The Sovereign Wealth Institute has upgraded the Nigeria Sovereign Investment Authority from four to nine points on its Linaburg-Maduell Transparency Index. The transparency index was developed at the SWI by Carl Linaburg and Michael Maduell and is a method of rating transparency in respect to sovereign wealth funds, a statement by the NSIA said. The […]
The United Nations Human Rights Council sitting in Geneva, has passed a resolution to hold transnational companies, especially in the oil and gas sector, accountable for environmental and human rights abuses in Nigeria, and anywhere in the world that they operate. Continue Reading
The depth of the rot in public service delivery and the racketeering of public services were demonstrated to me on a recent visit to the National passport and Immigration Service, Abuja to obtain a new passport. This was necessary because I had recently changed my name as a result of marriage. On arrival at the […]
THE Nigerian Communications Commission (NCC) has formally unveiled a telecommunications sector corporate governance code targeted at safe guarding the over $25 billion investments in the industry. Though, it will not be mandatory until after two years, the Executive Vice Chairman of NCC, Dr. Eugene Juwah at the unveiling in Lagos, Thursday, said the code […]
A Federal High Court in Abuja on Thurday restrained the Attorney General of the Federation (AGF) and the Asset Management Corporation of Nigeria (AMCON) from further tampering with the assets and properties of Aero Contractors Company of Nigeria allegedly taken over by AMCON. The court presided over by Justice Ahmed Mohammed gave the order following […]
Over-the-Counter deals worth about N200 billion in Nigeria’s fixed income market became murky yesterday as dealers could not settle transactions in FGN bonds and Treasury Bills (T-Bills), BusinessDay has learnt. The cause, it was further learnt, came from the Scripless Securities Settlement System (S4) and Real-Time Gross Settlement (RTGS) platforms of the Central Bank of […]
The Central Bank of Nigeria (CBN), yesterday, kicked against current legislative moves to give the Nigerian Deposits Insurance Corporation (NDIC) powers to liquidate insurance companies in the country, saying it will be duplicating a responsibility it plays already. The apex bank and the NDIC appeared at a one-day public hearing of the House of Representatives […]
Supervising minister of aviation, Dr Samuel Ortom explained yesterday that the inability of the ministry to return the controversial N255million bullet-proof cars bought by the ex-minister, Stella Oduah was due to delay in “due process” requirements. Ortom said the directive to return the bullet-proof cars by the House of Representatives Committee on Aviation will be […]
In a speech chronicling what went wrong in the Nigerian banking industry in 2009, former governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi said that “Governance malpractice within banks, unchecked at consolidation, became a way of life in large parts of the sector, enriching a few at the expense of many depositors […]
The President, Nigerian Council of Registered Insurance Brokers, Mr. Ayodapo Shoderu, said it would introduce stringent rules to screen out fake brokers from the profession. He said this during the NCRIB members’ evening supported by Staco Insurance Plc in Lagos. “The council will be more stringent in its admission of new members to prevent the […]