IFRS 5 Non-Current Assets held for Sale and Discontinued Operations
Irene Peter Atolo
December 23, 2019
By Irene Peter Atolo, FCA, FCIIN In our earlier discussion, I made mentioned of classification of assets which included Non-Current Assets or Current Assets and tangible or intangible assets. I specifically mentioned that a none-current asset cannot be realized primarily from sales as this is not the intended purpose of acquiring it. The main purpose of […]
NDPR and the data protection officer function
Michael IreneDecember 17, 2019
By Michael Irene, PhD The Nigerian Data Protection Regulation states, under Implementation Mechanism, that every data controller shall: • Designate a Data Protection Officer to ensure adherence to this [NDPR] Regulation, relevant data privacy instruments and data protection directives of the data controller; • [and] may outsource data protection to a verifiably competent firm […]
GRC BOARD PORTAL: Why making the right choice matters
Emmanuel Moore ABOLODecember 17, 2019
By Emmanuel Moore ABOLO, PhD My experience sitting on the boards of companies teaches me that it can be a herculean task documenting board activities associated with Board oversight functions and GRC-related matters. It can be very stressful and frustrating as a board member when you receive board papers only a few days before […]
Non-permissible business
Adolphus AbrahamDecember 17, 2019
By Adolphus Abraham I was in a gathering last week where we were to discuss the future of microfinance banks from an investor point of view and during the welcome address from the convener and chairman of the occasion, the first statement he made was a rhetorical question on why the industry has continued […]
Accounting policies and notes to accounts
Irene Peter AtoloDecember 17, 2019
By Irene Peter Atolo, FCA, FCIIN The financial statements of an entity as earlier mentioned comprise of Statement of Financial Position, Statement of profit or loss and other comprehensive income including Statement of cash flow, Statement of Changes in Equities and Notes to the accounts. These statements are quantitative and aggregated. For instance, the figure of […]
On Nigeria’s cyber security skill gap
Ikechukwu NnamaniDecember 10, 2019
By Ikechukwu Nnamani One key finding that has continued to surface in all the previous Nigerian cyber security reports is the shortage of qualified cyber security experts to handle the cyber threat facing the country. Nigeria unfortunately ranks the lowest in Africa in terms of certified cyber security expert per citizen. A review of […]
Nigeria’s resilience against global risks
Lukman OtunugaDecember 3, 2019
By Lukman Otunuga There was a collective sigh of relief across the Nigerian economy in November after official reports confirmed that economic growth accelerated to 2.3% during the third quarter of 2019. Given how this rate of growth represents the second-highest quarterly rate witnessed since 2016, Nigeria is certainly displaying a measure of resilience […]
Getting the Board on board GRC implementation
Dr. Emmanuel Moore ABOLODecember 3, 2019
By Dr. Emmanuel Moore ABOLO Without the board’s direction and support, efforts to implement an effective GRC process are destined to fail. It is therefore important for the board and its senior management team to develop a GRC-aware culture that operates within the agreed risk appetite that aligns with the organisation’s corporate strategy. To […]
How much money do you need?
Adolphus AbrahamDecember 3, 2019
By Adolphus Abraham I have received several calls in the recent past from people calling to say they have saved N20 million and they would like to float an MfB with it. My friend, I am usually glad to tell them that their money was inadequate for obtaining an MfB license. Prior to April 2019, once […]
On statement of changes in equity
Irene Peter AtoloDecember 3, 2019
By Irene Peter Atolo, FCA, FCIIN My grandpa was a farmer. The major products on his farm were yam, rice, and maize. In addition to that, he reared domesticated animals like goats and sheep. The family compound was big, walled and gated. Every evening, he drove all the animals into the compound and dutifully counted […]