Nigeria’s Money Laundering (Prevention & Prohibition) Bill, 2016 to capture religious organisations, non-profit organisations, charities and law firms

  Nigeria’s President Muhammadu Buhari has sponsored two bills to check corruption and money laundering in Nigeria in line with the anti-corruption posture of his administration and in consonance with the key thrust of anti-corruption during his election campaign. The two bills – ‘Money Laundering (Prevention & Prohibition) Bill, 2016’ (The Bill) and ‘Mutual Legal…

Nigerian Bar Association resolves to introduce Guidelines on Anti-Money Laundering & Anti-Terrorism Financing for Nigerian Lawyers and Law firms.

The Nigerian polity has witnessed a huge wave of media reports on the fight against corruption and terrorism recently. President Muhammadu Buhari made the fight against corruption a key thrust of his campaign and has continued to issue statements that portray him as one who desires to tackle the issue of corruption in the country.…

2014 in review – Thank you note

This is to appreciate everyone who visited this blog and read my posts. Special thanks to all who left a comment, re-blogged or  liked a post. Thank you for your support in 2014 and look forward to having you in 2015. I wish you a happy, prosperous and fruitful 2015 ahead The WordPress.com stats helper…

Corporate Governance in action: The Afren Plc example

The global architecture of corporate governance is certainly witnessing increased activism as corporations have begun to take drastic measures to check abuse of executive office more than ever before. In recent times, shareholder activism, board diversity and corporate governance enforcement are some themes that have received increased attention in the sphere of corporate governance. With…

Tax exemption for Non-profit organisations is not absolute

Introduction The term ‘Non-Profit Organisation’ could be misleading because it suggests that entities in this category do not make a profit, which is not the case. Non-profit organisations are essentially organisations that are prohibited from distributing profits to their members or officers. They could be incorporated; in which case the governing corporate law provides for…