The country’s current petroleum products pricing model, which is based on import parity and the Petroleum Support Fund, is riddled with corruption, a new report produced under the project, Transparency and Accountability in the Oil and Gas Sector in Nigeria, has stated. The report by the African Centre for Leadership and the Strategy and Development, […]
The role of an effective regulatory regime in promoting economic growth and development has generated considerable interest among researchers and practitioners in recent years. According to experts, the ability of the state to provide effective regulatory institutions can be expected to be a determinant of how well markets and the economy perform; and the impact […]
The Federal Government, in an effort to ensure that the country keeps pace with the growing global competition in technology and economic development, had made provision for companies to hire expatriates to undertake jobs and responsibilities in areas where Nigerians lack the requisite skills and capacities, while making sure that Nigerians take up jobs they […]
More Nigerian firms are planning to list on the London Stock Exchange (LSE) following the listing of Seplat Petroleum Development Company PLC. last April. Head, Equity Primary Markets, Africa, India and Middle East at the LSE, Mr. Ibukun Adebayo, disclosed this to THISDAY in an interview in London last week. Continue Reading
Most organizations have good intentions when it comes to complying with regulatory and ethical standards. They demonstrate this by writing codes of conduct, having internal and external audits and by training new and current hires on compliance requirements. However, there is usually a divergence between what is coded and communicated, and what is actually carried […]
The German Development Minister, Mr. Gerd Müller, has slammed the Federal Government for what he describes as rising cases of oil spill in the Niger Delta. According to him, over 600 cases of oil spill have been recorded in the area so far this year. Müller was on Tuesday quoted by the Stakeholder Democracy Network […]
A row is brewing between Zambia and Dangote Cement, a major employer in Africa’s second largest copper producer, after a government minister accused an executive at the local unit of the Nigerian company of attempting to bribe him. The dispute appears to be the latest in a string of incidents in which the southern African […]
The Steel and Engineering Workers’ Union of Nigeria (SEWUN) has scored the Bureau of Public Enterprise (BPE) low over its handling of the privatisation process in the country. Its National President, Comrade Elijah Adigun, who spoke at the union’s yearly Industrial Relations Conference held at the Teachers’ House, Ibadan, said the BPE, saddled with the responsibility […]
The Nigerian Civil Aviation Authority (NCAA) has said the authority would sanction the crew of the alleged private jet belonging to the president of the Christian Association of Nigerian (CAN), Ayo Oritsejafor, linked with illegal laundering of about $9.3 million in South Africa. The NCAA deputy general manager, Public Affairs, Mr Sam Adurogboye, who disclosed […]
Of the many challenges banks face as we move into the second decade of the 21st century, dealing with cyber attacks is chief among them. Cyber security experts have predicted an increase in cyber crimes in 2014 in line with the growing usage of the internet. The Central Bank of Nigeria’s report for the first […]
There was security breach yesterday in the Koluama community of Southern Ijaw Local Government area of Bayelsa State following the invasion and shutting down of the Chevron Oil Platform by youths over the refusal of the company to pay adequate compensation for January 2012 KS Endeavour rig fire disaster in the area. Continue Reading
The Socio-Economic Rights and Accountability Project (SERAP) has called the Central Bank of Nigeria’s Governor Godwin Emefiele, to “urgently provide information on the identity of the persons involved in alleged money laundering through the bank to fund the activities of the Boko Haram,.” SERAP in a statement signed by Adetokunbo Mumuni, executive director, also urged […]
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 […]
It is my sincere pleasure to deliver this Keynote, being the Second Annual Christopher Kolade Lecture on Business Integrity on the theme “Making the Business Case for Business Integrity”. Apart from the honour of being in the same room with distinguished men and women of integrity like the iconic Dr. Christopher Kolade, I am delighted […]
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 […]
The 2nd installment of the annual Christopher Kolade lecture series held yesterday, September 11, 2014 and it was well attended by industry leaders, regulators, academia and members of the press. The evening started with a welcome address by Soji Apampa, Executive director of the Convention on Business integrity who mentioned that the reason why 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 […]
