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Compliance Alert

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

Central Bank of Nigeria Act

2016-12-20 10:30 AM | by Nigeria Compliancehub

This is an Act to repeal the Central Bank of Nigeria Act 1991 and to establish the Central Bank of Nigeria Act; and for related matters. 

The principal objects of the Bank shall be to ensure monetary and price stability; issue legal tender currency… Read more

Company and Allied Matter Act

2016-12-16 12:28 PM | by Nigeria Compliancehub

An Act to establish the Corporate Affairs Commission, provide for the incorporation of companies and incidental matters, registration of business names and the incorporation of trustees of certain communities, bodies and… Read more

Company Income Tax Act

2016-12-15 4:51 PM | by Nigeria Compliancehub

Companies are mandated by law to pay Company Income Tax (CIT) in Nigeria based on the profit. The amount charged is 30% o the profit earned in the year preceding assessment.
Companies resident in Nigeria are liable for CIT on their worldwide income and non-resident companies are liable only to CIT… Read more

Company Income Tax Act Amendment

2016-12-15 4:40 PM | by Nigeria Compliancehub

Companies are mandated by law to pay Company Income Tax (CIT) in Nigeria based on the profit. The amount charged is 30% o the profit earned in the year preceding assessment.
Companies resident in Nigeria are liable for CIT on their worldwide income and non-resident companies are liable only to CIT… Read more