The immediate past Executive Vice Chairman/CEO,Honeywell Flour Mills Plc, Mr. Folaranmi Babatunde Odunayo, retired on April 1st, 2014. Mr. Odunayo retired after 17 years of meritorious service. Odunayo, Honeywell’s pioneer CEO is a graduate of the then University of Ife, Ile-Ife (now ObafemiAwolowo University).

Before the advent of the Europeans, Nigerians willingly paid their taxes in kind by rendering free services such as clearing of bush and fallow farmlands, digging pit toilets, wells, etc. for the benefit of the community as a whole. Properties were usually seized whenever there was a default and such properties might be reclaimed on payment of money.

Nigeria is a country of absurd economic realities. The 13th largest crude oil producer in the world and the second largest economy in Africa earn an estimated $2.2 million a day in oil revenue.

As part of ongoing efforts to sanitise the insurance industry of unethical practices, the National Insurance Commission, NAICOM, has said that henceforth, it is a punishable offence for insurance companies to pay fees on any insurance business transaction except as provided by insurance law.

Ecobank Transnational Inc. (ETI)’s board must reconsider the speed at which the pan-African lender expands after allegations of management fraud and poor governance, South Africa’s Public Investment Corp. said.