The Federal Inland Revenue Service (FIRS) has arrested top officials of Sweet Sensation, UTC and Pivotal Engineering in Lagos for alleged failure to remit taxes totally N2.17 billion.

Institute of Chartered Accountants of Nigeria (ICAN) has reiterated its zero tolerance stance for professional malpractice by any of its members.

Deputy Governor, Central Bank of Nigeria, Mr. Tunde Lemo, has called for an increase in Private-Public Partnership, PPP, saying this will help fast track the country’s economic development.

Sterling Bank Plc has recorded a gross earning of N17.2 billion within the three months ended March 31, 2012, representing a growth of 79 per cent from the corresponding period of 2011.

The Nigerian Content Development and Monitoring Board (NCDMB) has expressed concern over the decaying pipeline network in the country and has proposed its renewal in the coming five years (2017).

Following the impressive performance of First Bank Nigeria Plc in the first quarter 2012 and full year result of 2011 recently released on the Nigerian Stock Exchange (NSE), the bank’s shares have continued to be the toast of investors in the stock market.

The Federal Government has commenced moves to position the Small and Medium Enterprise sub-sector in Nigeria as growth drivers of the economy.

The Net Asset Value, NAV, of mutual funds listed on the Memorandum Quotation segment of the Nigerian Stock Exchange, NSE, appreciated by N1.264 billion in one month, between March and April 2012.

Sovereign Trust Insurance Plc has extended its Corporate Social Responsibility efforts to the International Institute of Tropical Agriculture (IITA) on the reforestation project recently embarked upon by the Institute.

The National Insurance Commission, NAICOM, has charged insurers to always report suspicious transactions to the Commission in line with the Anti Money Laundering/Combating Financial Terrorism, AML/CFT directive.

In 2009, Sanusi Lamido Sanusi was appointed governor of the Central Bank of Nigeria and he immediately went to work with more reforms in the financial services sector. It should be noted that that sector was just settling down with the reforms instiuted by his predecessor, Professor Charles Soludo.

“The African economy which largely depends on the exploitation of natural resources should move on to become a transformation economy”, said Donald Kaberuka, President Africa Development Bank.