In a bid to improve its relations with the National Assembly, news reports indicate that the presidency may have given into the demands of the National Assembly to release the federal lawmakers’ N100 billion constituency allowance. This contrasts with its earlier stance opposing the release of the funds to the lawmakers; largely blamed for the … More The Anomaly of the Constituency Allowance
The Court of Appeal Lagos division recently ruled that the monthly environmental sanitation exercise in Lagos State is illegal and ordered the Lagos State Government not to restrict people’s movement on that day forthwith. It held that, in the absence of a written law providing for same, the governor’s directive for people in Lagos … More WILL THE STREETS RUN WILD WITH DIRT?
The Financial Reporting Council Act of Nigeria, 2011 sets up the Financial Reporting Council (FRC). Section 50 of the Act provides for the establishment of a Directorate of Corporate Governance to develop principles and practices of Corporate Governance; promote the highest standards of Corporate Governance; promote public awareness about corporate governance principles and practices; and … More THE FRC’S CODE OF CORPORATE GOVERNANCE
It is no longer news that the Federal Government set up a N220billion intervention fund for Small and Medium Enterprises (SMEs), to be administered by the Central Bank of Nigeria (CBN) through commercial banks in the country; one of many funds set up overtime by the Government, CBN and the international bodies, for the same … More SME Seed Funding – What are the options?
It’s the spring of layoffs in Nigeria, as employment rates continue to witness an unprecedented meltdown due to the economic recession. Two of Nigeria’s key industries, Oil & Gas and Banking, have laid off thousands of workers in a bid to reduce costs and stay afloat during this economic down times. Not so long ago, … More The Nigerian Employee and his right to a reason
One of the key disputes among business men in the Nigeria, and many parts of the world relate to financial transactions. It is not uncommon for commercial transactions to go sour, which in most cases lead to the termination of business relationships. In such cases, the next point of call for the parties is to … More Use of the Police as Debt Recovery Agents
Investor sentiments regarding what to invest in are usually dictated by the level of confidence in the future potential of the investment; particularly the expected return. Incidentally the two are linked. Lately, due to the difficult operating and economic climate, the outlook to the future is plagued by uncertainty – with low expectations of return … More Treasury Bills as an Investment option in Harsh Economic Conditions
The Nigerian Senate last week passed a bill aimed at amending the Code of Conduct Bureau and Tribunal Act (the Act). Some have voiced the opinion that the move is not unconnected with the ongoing trial of the Senate President, Bukola Saraki, at the Code of Conduct Tribunal (CCT); who is being tried for false … More A Brief Look at the Move to Amend the Code of Conduct Act
On February 1, 2016, amidst numerous opposition from different stakeholders,the Nigerian Electricity Regulatory Commission (NERC) commenced the implementation of the current electricity tariff (MYTO 2015), spiking the cost of electricity by about 45percent. Barely six months later, the Nigerian Electricity Distribution companies (DISCOs)reportedly delivered a letter to the Nigerian Electrical Regulatory Commission (‘NERC’)demanding an increase … More The Tariff Conundrum
On June 13, 2016, a 29-year-old; Omar Mateen, an alleged ISIS operative perpetrated yet another ruthless mass shooting in Orlando, Florida, United States of America. The massacre left 50 dead and 53 wounded at the ‘Pulse’ Gay nightclub and this act has been unanimously condemned by all; however, the legal regime that permitted the use … More Firearms : A right to bear one or keep one?