News headlines from various news sites
The National Association of Road Transport Owners, NARTO, has raised alarm over the hijack of their trucks by heavily armed men who escape with them fully loaded with petrol and siphon the fuel and set them ablaze afterwards. The drivers, who expressed their concern over the worrisome development in Kaduna recently, decried the great losses […]
The Lagos Chambers of Commerce and Industry (LCCI) has said counterfeit products still come into the country because Nigeria has very weak institutions. Its Director-General, Mr Muda Yusuf, said this was the reason the compliance level of most government’s policies is low Continue Reading
For the organised private sector, the intervention of the Federal Government is very auspicious at this critical period to clarify the roles of its agencies whose activities have been identified to be stalling the growth of business in the country. Its recent study has revealed that regulatory challenges and their attendant costs have been the […]
Italian oil and gas major Eni, the parent company of Nigeria Agip Oil Company, is being probed over suspected corruption linked to the acquisition of Oil Prospecting Licence (OPL) 245 in Nigeria for over a billion dollars. A Milan prosecutor is probing the role of Claudio Descalzi, Eni’s chief executive officer (CEO), his predecessor and […]
The Chief Executive Officer (CEO) of MainOne, Funke Opeke, was among global policy makers, international organisations and other global internet stakeholders in Istanbul, Turkey last week that discussed Policies enabling access, growth and development on the Internet. The Ninth Annual Internet Governance Forum conference with the theme “Connecting continents for enhanced multi-stakeholder Internet governance” was […]
The only surviving founding father of the Nigerian Stock Exchange (NSE) and the Doyen of the Accountancy, Mr. Akintola Williams, has urged stakeholders at the stock exchange to sustain the high degree of integrity on which the stock market was founded. Williams, now 95, together with six other eminent Nigerians, had in 1960 signed on […]
A Federal High Court has temporarily frozen at least 20 accounts belonging to Sani Dangote, a brother to billionaire businessman Aliko Dangote, over his alleged failure to pay a N5.2 billion obtained from Union Bank. All cheques drawn on all of Mr. Dangote’s accounts in 20 banks are not to be honoured, the court in […]
The Nigerian Civil Aviation Authority (NCAA) has warned domestic airline operators in the country against non-payment of their staff salaries as they may lose their Air Operators Certificate (AOCs), if the practice persists. The warning may not be unconnected with speculations in some quarters that one of the startup airlines owed its workers six months […]
The Federal Government has blacklisted a contractor, Techno Electric and Engineering Company, and the firm’s directors for abandoning an electricity substation project in Ebonyi state. This decision was taken on Wednesday by the Federal Executive Council (FEC) which also approved the National Integrated Infrastructure Master Plan (NIIMP) aimed at improving Nigeria’s infrastructure outlay with $3.05 […]
The World Economic Forum on Wednesday released the 2015 Global Competitiveness Index report and Nigeria dropped to 127 of the 144 countries assessed. This thus indicated that the country fell by seven places from the 120 position it occupied last year. The development further shows that Nigeria has remained one of the poorest countries in the […]
You recent won an award from the Institute of Risk Management. Why is winning this award important to you? Thank you and I have to say it is something we are very proud of. The truth is that, any organization that wants to compete on the world’s stage must ensure that it has robust and […]
Sustenance of stakeholder value in the nation’s banking sector may remain a pipe dream unless the current rising cost of compliance breaches by banks with its attendant reputation damage is radically tackled. The Managing Director of Heritage Bank, Mr. Ifie Sekibo, said this during a goodwill message to members of the Committee of Chief Compliance […]
The Accountant-General of the Federation, Mr Jonah Niyi Otunla has called on every state government in Nigeria to ensure that they urgently comply with the provisions of the International Public Sector Accounting Standards (IPSAS) as this would soon be used as yardstick before they are granted further local or foreign loans. He gave this directive […]
INTERNATIONAL Monetary Fund (IMF) Managing Director, Christine Lagarde has been put under formal investigation by French magistrates for negligence in a political fraud affair dating from 2008 when she was finance minister. Lagarde, who this week was questioned by magistrates in Paris for a fourth time under her existing status as a witness in the […]
THE Federal Government, through the Nigerian Shippers Council (NSC), has unfolded plans to investigate the high tariff and multiple charges’ regime at the gateways, which has reduced the business-friendly profile of the ports. The Executive Secretary and Chief Executive Officer of NSC, Hassan Bello made this known yesterday, describing the high tariff saga as illegal, […]
Ministries, Departments and Agencies (MDAs) of government as well as other financial institutions have ignored the Stamp Duties Act enacted since 2004, Daily Trust learnt. The Act made it mandatory on all agencies of government, financial institutions, and other private companies to affix stamp on all receipts and documents issued at the end of any […]
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 […]