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Compliance Alert


A primary concern for the Chief Compliance Officer or the compliance Team of a Institution is to manage the ever increasing volume and complexity of regulations. This complexity has a direct effect on Financial institutions (banks, insurance, pension and other financial institutions) and companies listed on the Nigeria Stock Exchange (NSE) these are sectors with increasing intervention by government who is vigilantly monitoring and doing so with strict supervision. Hence the need to be effective and efficient in tracking and managing regulatory changes, both in the domestic and the international market. Understanding the impact of regulatory changes on different business units and product lines will put companies ahead of regulators making it easy for them to implement such regulations. NCH monitors over 50 Regulators in Nigeria including bills passed by the National Assembly and the Presidency. They are over 20 international regulations and standards monitored by NCH. Our monitoring tools helps us stay ahead of regulations and ensures nothing fall through the crack. 

Recent Posts in Compliance Alert

ITF seeks increased funding to boost Nigerian SIWES

2017-08-16 10:06 AM | by Nigeria Compliancehub

The Industrial Training Fund (ITF) is seeking the collaboration of stakeholders in the funding of Nigeria Students Industrial Work Experience Scheme (SIWES), as a means to boost the country capacity to instill skill in undergraduates and engender their experiences in the world of work.

Speaking at the 13th SIWES Biennial conference… Read more

184,979 Retirees Benefit From CPS

2017-08-16 9:58 AM | by Nigeria Compliancehub

The National Pension Commission (PenCom), has said that no fewer than 184,979 retirees were benefitting from the Contributory Pensions Scheme (CPS).
The Acting Director-General of PenCom, Mrs Aisha Dahir-Umar, made this known in Abeokuta at the Annual Retreat of Pension Operators (PenOp).
She said that as at March 2017, the retirees were… Read more

Is Nigeria Becoming A Pariah State Again?

2017-08-16 9:30 AM | by Nigeria Compliancehub

There is unease in the expatriate community after they received letters from their banks abroad that their accounts will be closed because they are based in Nigeria, sources have told “Heard on the Street.”
Their banks did not give them any specific reason for the decision to close their accounts, other… Read more

NDLEA Arrests Chadian With 186kg Of Drugs

2017-08-16 9:07 AM | by Nigeria Compliancehub

The National Drugs Law Enforcement Agency (NDLEA) has arrested one Adamu Muhammed, a Chadian, with illicit drugs weighing 186 kilograms in Yola, Adamawa.

The State’s Commander of the agency, Mr Yakubu Kibo, confirmed the arrest in Yola on Monday.

Kibo said that the suspect was apprehended at Jimeta -Yola Modern Market while… Read more

JTB, VAIDS, FIRS share data of high income earners

2017-08-16 8:54 AM | by Nigeria Compliancehub

The Joint Tax Board and the Federal Inland Revenue Service have started sharing data of high net worth individuals to profile income earners and taxpayers in order to get them pay appropriate taxes.
Twelve states have signed the Memorandum of Understanding under the Voluntary Assets and Income Declaration Scheme.
The JTB also… Read more