The regulatory authorities are trying their best, but one thing I will tell you about Nigerians is that immediately a law is made, some people will sit down to study the loopholes and will start taking advantage of weak points in it.

MANUFACTURERS in the country are licking their wounds over streams of loses as a result of built up finished inventories of goods in their warehouses they can not sell. This is as a result of the insecurity in the Northern part of the country that has taken away part of their market. Many company chief executives who spoke to Vanguard said the north is important to their business as the region accounts for more than 30 per cent of the Nigerian market.
Though the manufacturers see the market as huge, distribution of goods and services to this region is being hampered by security challenges in the affected states.

The cashless policy started in Lagos January 2012, but it is yet a policy in most major public institutions. A good example is the Lagos state hospitals. A visit to any of these general hospitals will reveal little or no attempt on the part of the management to promote electronic payment.

The N464 trillion needed for infrastructures over the the next five years in the country can’t be provided by banks alone, said Chibundu Edozie, Group Deputy Managing Director, BGL Plc.

A former Director, Airworthiness and Operation Standard, Nigerian Civil Aviation Authority, NCAA, and former Rector , Nigerian College of Aviation Technology, Zaria, and former Director, Air Transport Bureau of International Civil Aviation Organization, ICAO, in Montreal, Canada, Mrs Folasade Odutola has said the Nigerian Civil Aviation Authority, NCAA, does not need to ground an airline in order to carry out operational audit on the airline.

Pension Fund Operators of Nigeria, PenOp, has said that many employers have refused to buy group life insurance policy for their employees as mandated by the Pension Reform Act, 2004.

To adequately tackle shortage of affordable housing in Nigeria, there is an urgent need to increase the level of housing finance in Nigeria to 10 percent of Gross Domestic Product (GDP) from its current level of 0.5 percent.
President, Mortgage Banking Association of Nigeria (MBAN), Mr. Femi Johnson, stated this last week, in Lagos, in his welcome address at the 3rd MBAN Housing Finance and Investment Conference and Exhibition, MBAN-HOFEX 2013, with the theme, “Mortgage Banking – A Catalyst for Capital Market Growth in Nigeria”.

First Bank Nigeria Plc, has announced its maiden edition of SMEs conference, with a view to empowering entrepreneurs and SMEs in the country.

Nigerian Airspace Management Agency, NAMA has denied the allegation that non- scheduled airlines, private jet operators, have shut down their operations in protest against the new aviation charges introduced for the use of general aviation terminals at the nation’s airports.

The Bank of Industry, BoI, says collateral is no longer an issue for accessing its credit facility as it has designed credit schemes and products that allow reputable persons third party guarantees on loan applications.
BoI Managing Director, Evelyn Oputu, disclosed this while addressing Nigerian and Danish business community in Lagos. According to her, the issue of collateral requirement to access funding was neither here nor there because the bank has already identified that some serious businesses do not have collaterals.

Outsourcing is one of the biggest business discoveries in the last two decades. In simple terms, it means handing over the management and execution of some business processes, functions or services to another organisation that has the expertise in handling such things.

Consumer Protection Council, CPC, has invited passengers on Aero Contractors Flight AJ 132 who passed the night at the airport for no fault of theirs only to be flown the following day for a chat with the intention of sanctioning the airline.

The Central Bank of Nigeria, CBN’s banking reforms is yet to impact on the citizenry as lending rate is still high, Director-General, West African Institute for Financial and Economic Management, WAIFEM, Pro-fessor Akpan Ekpo, has said.

THE management of Trustfund Pension Plc has announced that the customers savings under its custody has risen to N250 billion with about 560,000 contributors.

Barrister Christian Wogu Esq.is a Principal Counsel at Shechinah Law House; the president of Shechinah Business School and an author. In this interview with Saturday Vanguard Business, he reveals how government’s inability to set standards in the Nigerian system has created avenue for privatisation, thereby increasing the rate of unemployment, insecurity, criminality etc.