DISCOs: CBN and the Bureau of Public Procurement give banks 6 month deadline to quit
The Bureau of Public Enterprises, BPE, and the Central Bank of Nigeria, CBN, has handed down a 6- month deadline to banks which recently took over the shares of core investors in some Electricity Distribution Companies, DISCOs, to exit them. The Director-General of the BPE, Mr. Alex Okoh, told Vanguard in an exclusive interview in
Read MoreTelecommunications Companies now licensed to Start Selling Foreign Currencies
Telecommunications companies like MTN, Glo, and Airtel can now vend foreign currencies as the Central Bank of Nigeria( CBN) reveals guidelines for the supervision of Payment Service Banks( PSBs). MTN, Glo and Airtel have fanned into fiscal service requests through their accessories; MoMo Agent, SmartCash, and MoneyMaster, independently. Away from their regular service of acceptance of deposits from individualities and small businesses, the Payment Service Banks possessed by the telcos will accept inboundcross-border particular remittances. From the remittances, the central bank’s guidelines also empowers
Read MoreINTERNATIONAL ARBITRATION AND ESG: A NEW TREND IN DISPUTE RESOLUTION
INTRODUCTION In very recent times, the world at large has seen an increase in awareness regarding Environmental, Social, and Governance (ESG) issues, including the resultant effects of climate change and environmental degradation. Some notable developments have occurred, and these developments have started to affect and will continue to affect how Companies in the different jurisdictions
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