International data transfers and data protection

February 17, 2020

By Michael Irene, PhD Twitter: @moshoke Email: mike@mireneglobalconsults.com.ng   If your company does not collect, use or process any personal data from other countries, or transfer data to other countries, there is no need to worry about international data transfers. But, most Nigerian companies do, either because  they have employees, customers, suppliers or other business […]

Towards a sustainable grc program in an organisation

February 17, 2020

By Dr. Emmanuel Moore ABOLO   Let me start with this quote from MetricStream–the independent market leader in enterprise and cloud applications for GRC and Quality Management: ‘’Gone are the days when GRC was, at best, a back-office function, and at worst, the department of “No.” Today, GRC has evolved into a powerful and positive […]

Who is a Microfinance Bank Customer?

February 17, 2020

By Adolphus Abraham   My experience in microfinancing has been very interesting. At times my training in commercial banking clashes with the tenets of microfinancing because both are distinctive. I get calls often from potential borrowers requesting for various types of loans but my microfinancing orientation and the type of model we have chosen to run […]

Signs your company needs help with data protection in Nigeria

February 13, 2020

By Michael Irene, PhD Twitter: @moshoke Email: mike@mireneglobalconsults.com.ng   Data protection regulation has come to stay. It helps data protection authorities like the National Information Technology Development Agency(NITDA) regulate and audit data processing in companies. Many company’s stakeholders in Nigeria claim they are compliant with the new Nigerian data protection regulation but, upon closer inspection, one […]

Coronavirus, oil and Nigeria’s economy

February 10, 2020

By Lukman Otunuga,  is FXTM Senior Research Analyst.   It is hard to believe that oil prices have depreciated over 17% since the start of 2020. The coronavirus outbreak in China triggered shockwaves across the globe and rekindled fears over slowing global growth. As of today, oil remains one of the biggest casualties of the virus […]

The Issue of Single Obligor and Related Parties

February 10, 2020

By Adolphus Abraham   My previous editions on this column has addressed the notion that potential investors usually have when it comes to investing in the microfinance space and that is the misconception that they can use the MfB license to mop up free or cheap funds to fund other businesses where they have interest. As […]

Nigeria Monetary Policy Makers Balk at Rising Inflation

February 3, 2020

By Lukman Otunuga is FXTM Senior Research Analyst.   In January, the Central Bank of Nigeria (CBN) decided to hold the lending interest rate at 13.5 percent and significantly increase the Cash Reserve Ratio (CRR) from 22.5 percent to 27.5 percent. Far from following the global easing trend, the CBN is taking steps to tighten monetary […]

Data mining in the era of data protection

February 3, 2020

By Michael Irene, PhD Twitter: @moshoke Email: mike@mireneglobalconsults.com.ng   There is a new saying: “data is the new oil”. It serves as a lubricant in many industries. To have more data is life for companies. As such, companies mine data in order to generate new information. David Hand, the British statistician, summarises data mining as “discovery […]

Insurance Contracts: Why IFRS 17?

February 3, 2020

By Irene Peter Atolo FCA, ACCA(DipIFRS) FCIIN.   To aid understanding, the essay is broken into the following sub-topics: 1. Introduction. 2. Definitions. 3. Why a Separate Standard for Insurance Companies? 4. What was the purpose of IFRS 4? 5. The defects of IFRS 4? 6. Why IFRS 17? 1.  Introduction I entered the insurance industry in […]