Two banks collapse in Ghana as BoG revokes licences of UT Bank, Capital Bank
The Bank of Ghana (BoG), otherwise, the Ghanaian central bank on Monday announced the revocation of the licences of UT Bank Ltd and Capital Bank Ltd. In a statement, BoG made it clear that “This action has become necessary due…
Abolition of confidentiality clause in accounting’ll end corruption— ICAN president
New president of the Institute of Chartered Accountants of Nigeria (ICAN) and Managing Partner of Ahmed Zakari & Co, Mallam Isma’ila Zakari has argued that with the abolition of the confidentiality clause in the new international accounting standard already adopted…
Interest rate anxiety heightens as DMBs agree to drive N26bn support for SMEs
Though Nigerian Deposit Money Banks (DMBs), had announced setting up of business review committee to oversee the disbursement of N26 billion equity funds for the Small and Medium Enterprises (SMEs), business development analysts are divided on the true colour of…
Twist as LCCI picks holes on NASS over N30tn probe of 63 leading firms
More divisions are still emerging on the best way to handle the trending N30tn infractions allegedly perpetrated by some number of highly respected firms operating in Nigeria. The latest voice is coming from the leadership of the Lagos Chamber of…
Why Lafarge is driving COREN collaboration on concrete mix design manual
Leading building solutions provider, Lafarge Africa Plc has explained why it partnered the Council for the Regulation of Engineering in Nigeria (COREN) in the research and development of Nigeria’s first concrete mix design manual. Recall that the group was the…
LAWMA, NBC forge partnership to drive PET bottles recycling
Lagos Waste Management Authority (LAWMA) recently received a team from Nigerian Bottling Company (NBC), distributors of Coca Cola products in Nigeria, who paid a courtesy visit to the Authority to get acquainted with present waste management practices spearheaded by LAWMA…
Problem with Cabotage not the law, but NIMASA’s unseriousness, inaction—Akabogu
Barely three days after the Nigerian Maritime Administration and Safety Agency (NIMASA), unveiled a new compliance strategy for implementation of the 14-year old moribond Cabotage Law, maritime lawyer and Principal Partner of Akabogu & Associates, Mr. Emeka Akabogu has picked…
Fine for power theft, illegal connection to be increased from N50,000 to N.2m
To boost deterrence, the recommendations of the 17th power sector stakeholders meeting which included raising penalty for electricity theft from N50,000 to N200,000 is now receiving consideration by the Nigerian Electricity Regulatory Commission (NERC). Already, the indebtedness of Discos has…
NEPC’s Zero Oil Plan targets N30.5tn revenue from non-oil export, but…
Though the Federal Government, through the Nigerian Export Promotion Council (NEPC) is targeting annual non-oil export revenue of $100bn (about N30.5tn, at N305 per dollar exchange rate) through the implementation of the Zero Oil Plan, there are fears of enabling…
Why Zenith Bank’s half year report reflected strength @ N75.32bn PAT
…votes 25k interim dividend Fresh details have emerged showing that the recently declared half year report of leading financial group, Zenith International Bank Plc which showed a profit after tax of N75.32 billion for the period ended June 30, 2017,…
