Nigeria Compliance Hub

SON Launches PAM to Check Substandard Products

2017-12-15 3:45 PM | by Nigeria Compliancehub

The Director-General of the Standards Organisation of Nigeria (SON), Osita Aboloma, has said that the agency’s newly introduced Product Authentication Mark (PAM) will raise the patronage of made-in-Nigeria products and boost the country’s economic diversification drive from oil to non-oil sector and check substandard products.

The PAM is a mark of… Read more

CURRENCY OFFENCES ACT

2017-10-25 11:02 AM | by Nigeria Compliancehub

An Act to prohibit certain acts tending to depreciate currency. Read more

COUNTERFEIT CURRENCY (SPECIAL PROVISIONS) ACT CAP. C35 L.F.N. 2004

2017-10-25 10:23 AM | by Nigeria Compliancehub

An Act to repeal and re-enact the Counterfeit Currency (Special Provisions) Act 1974 and to provide for the penalties of counterfeiting in currency and other ancillary matters.

COMPANIES INCOME TAX (RATES, ETC. OF TAX DEDUCTED AT SOURCE (WITHOLDING TAX) REGULATIONS S.1 10 1997

2017-10-25 10:16 AM | by Nigeria Compliancehub

This Act states the rate at which a person as defined in paragraph (2) of this regulation shall deduct tax under the Decree from a payment made by him for an activity or service listed in Column I of the Schedule to these regulations shall be as… Read more

Court asks CBN, banks to freeze accounts without BVN

2017-10-24 10:18 AM | by Nigeria Compliancehub

A Federal High Court in Abuja has ordered the Central Bank of Nigeria and the 19 commercial banks in the country to freeze any account without Bank Verification Number.

It also ordered them to disclose all accounts in their custody and the balances in such accounts, their owners and their proceeds… Read more

PenCom explains delay in gratuity payment

2017-10-24 10:05 AM | by Nigeria Compliancehub

Some retirees under the Contributory Pension Scheme (CPS) have yet to receive gratuity due to unfunded Defined Benefit Scheme (DBS) backlog owed by the Federal Government.

The Acting Director-General of the National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, made this known in an interview with the News Agency of Nigeria (NAN)… Read more

Oando crisis worsens as firm is suspended from Johannesburg Stock Exchange

2017-10-20 12:41 PM | by Nigeria Compliancehub

The Johannesburg Stock Exchange, JSE, on Thursday suspended trading in the shares of Nigerian oil company, Oando.

The suspension came after an order by Nigeria’s Securities and Exchange Commission, SEC, prompted the Nigerian Stock Exchange, NSE, to suspend the embattled company on Wednesday.

According to a notice by the JSE seen by… Read more

NAICOM moves to enforce compulsory insurance of public buildings

2017-10-20 9:43 AM | by Nigeria Compliancehub

To drive the enforcement of the compulsory insurance of public buildings across the country, The National Insurance Commission (NAICOM) in Abuja has inaugurated a technical committee.

The committee was inaugurated by NAICOM’s Commissioner for Insurance, Mr Mohammed Kari, and it has membership drawn from NAICOM, the Federal Fire Service (FFS) from… Read more

SEC orders suspension of Oando shares, audit of firm

2017-10-20 9:35 AM | by Nigeria Compliancehub

The Nigerian Stock Exchange, on Wednesday, suspended trading on the shares of Oando Plc as directed by the apex regulator, the Securities and Exchange Commission. SEC also said it planned further investigation and audit of the firm.

Some shareholders of Oando, in separate interviews, called for the suspension of the management… Read more

COUNTERFEIT AND FAKE DRUGS AND UNWHOLESOME PROCESSED FOODS (MISCELLANEOUS PROVISIONS) ACT

2017-10-16 1:27 PM | by Nigeria Compliancehub

An Act to provide for the prohibition of sale and distribution of counterfeit, adulterated, banned or fake, substandard or expired drug or unwholesome processed food; and of sale, etc., of drugs or poisons in certain premises or places.

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