The Federal Executive Council (FEC) has approved a draft white paper on the Technical Committee on Industrial Relations Matters in Public Service which seeks to check what government considers excessive trade unionism, abuses by employers and illegal private practice by public health workers, among others.The Minister of Labour and Employment, Chris Ngige, made the announcement…
The business license of erstwhile Skye Bank Plc was summarily revoked last month (September 2018) by Godwin Emefiele, the CBN Governor. The revocation came about two years after the financial regulator sacked the management in July 2016; the action followed the bank’s inability to meet the mandatory minimum key liquidity and capital adequacy ratios, which…
The Central Bank of Nigeria, CBN, yesterday responded to the International Monetary Fund, IMF, propositions on judicious use of the nation’s external reserves to build buffers against the shock of rising interest rates in the monetary policy normalisation regime of the United States, saying CBN’s policy preference for now is to maintain exchange rate stability….
Greychapel Legal (“Greychapel”) recently advised May and Baker Nigeria Plc, a health care company in Nigeria, on its Rights Issue of 980,000,000 ordinary shares of 50k each at N2.50k per share (the “Transaction”). The Transaction underscores May and Baker’s new vision of dominating and leading the healthcare brand in Sub-Saharan Africa markets. Greychapel which acted as Solicitor…
The national economy got $45.7 billion investments in 12 sectors from January to June this year, the Nigerian Investment Promotion Commission (NIPC) has stated. In its latest report released at the weekend in Abuja, the agency noted that the sum was invested on 42 projects in nine states and the Federal Capital. Territory (FCT). A…
Less than a month into the unveiling of its account substitution policy of defaulting taxpayers, the Federal Inland Revenue Service (FIRS) has announced the collection of N12.66 billion revenue. The Executive Chairman, Tunde Fowler, disclosed this at the weekend when he received the new Minister of Finance, Hajia Zainab Ahmed, during her tour of the…
The Nigeria Labour Congress (NLC) is not ruling out strike to reopen stalled negotiations on its demand for better wages, NLC president, Ayuba Wabba, told The Guardian in an exclusive interview yesterday. “If it becomes necessary to declare a strike action over the minimum wage imbroglio, we would do that. But it will be communicated appropriately…
Against the backdrop of the Federal Government’s alleged lackadaisical attitude over new minimum wage, the Senior Staff Association of Nigerian Universities, SSANU, has warned the government not to push workers to the wall, saying the consequence may be grievous. SSANU in a communiqué after its 34th National Executive Council, NEC, meeting at the Delta State…
The Chartered Institute of Bankers of Nigeria (CIBN) has concluded plans to commence a certification programme on SME financing starting from April 2019. This is even as the Managing Director/Chief Executive Officer of Heritage Bank Plc, Ifie Sekibo, called on commercial banks in Nigeria to help in building a strong SME sector. President of CIBN,…
The Academic Director and Senior Fellow in Information Systems, Lagos Business School, LBS, Dr. Olayinka David-West, has said that lack of digital capacity, education and proper documentation are reasons why MSMEs in Nigeria are not considered for credit facilities by banks, stressing that the financial services anywhere in the world are highly regulated and processed…