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 […]
The Nigerian Stock Exchange and the Convention on Business Integrity on Monday inaugurated a corporate governance system aimed at encouraging greater market transparency, competitiveness and better governance for listed companies. The CGRS is designed to rate companies listed on the Exchange based on their corporate governance and anti-corruption culture, thereby improving the overall perception of […]
Two recent examples in the UK have highlighted the need for good succession planning. GlaxoSmithKline (GSK) announced that Sir Philip Hampton would succeed Sir Christopher Gent as GSK’s chairman. His experience in a similarly tightly regulated industry as chairman of the Royal Bank of Scotland makes him a stellar choice. On the other hand, Tesco’s […]
The World Bank has ranked Nigeria 170th among 189 countries in terms of the ease of doing business. In a report released on Wednesday, Singapore emerged the best country in the world to do business, while Mauritius was the best in Africa with a ranking of 28. Nigeria’s ranking for 2015 is slightly better than […]
The emergence of the Nigerian Stock Exchange (NSE) as a member of the World Federation of Exchanges (WFE) may have placed the local bourse ahead of other West African stock exchanges, as well as put it at par with other credible global exchanges, BusinessDay findings have shown. The election, which has made the NSE the […]
For failing to remit tax revenue amounting N2.4 billion, the Federal Inland Revenue Service (FIRS) has quizzed top officials of six companies operating in Lagos, during a two-day tax enforcement drive. The companies and their outstanding tax liability are Leaders and Company Ltd, N228.5 million, Lottoj Oil and Gas Ltd, N14.4 million, First Deep Water […]
A Federal High Court in Lagos has entered N1.407 billion judgment against BGL Plc in favour of First Bank of Nigeria Plc. Justice Mohammed Idris, while delivering judgment in a suit filed by BGL against First Bank, held that on the balance of probabilities, the bank was entitled to judgment for the credit facilities it […]
Sued in 2010 by Paul Ceglia, who claimed a majority ownership interest in Facebook Inc. based on documentation since determined by a federal court to have been faked, the social media goliath and its creator, Mark Zuckerberg, have now turned the tables. Continue Reading
