Nigeria dropped five places to be ranked 158 in a new report released by KPMG, audit and financial advisory firm. The report, which is titled Growth Promise 2018, ranked countries based on macroeconomic stability, institutional strength, openness and human capital. Nigeria ranked 158 of the 181 countries. Mauritius, Botswana and Rwanda were the highest ranked African countries in the report. Nigeria got a score of [...]
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The new management of Arik Air has appointed KPMG, one of the big four audit firms in the world, to undertake a forensic and diagnostic audit to ascertain the true status of its finances. The audit will among other objectives cover "the position of assets and liabilities, and their utilisation; recording and utilisation of loans, propriety of third party transactions; fraud [...]
A federal high court in Lagos has restrained the Financial Reporting Council of Nigeria (FRC) from taking any action, sanction or measure against KPMG Professional Services. Ibrahim Buba, the presiding judge, ruled that the FRC must maintain status quo pending the hearing and determination of the suit filed by the applicants. Chuka Ikwuazo, prosecuting counsel, urged the court to restrain the respondents [...]
The ownership tussle of the Sheraton Lagos Hotel and Towers and its owning company, Ikeja Hotels Plc, deepened on Tuesday, as different members of the Ibru family moved to assert authority. While a group led by Maiden Ibru, widow of the late Guardian publisher, Alex Ibru, moved to hold an Extra-Ordinary General Meeting (EGM), Goodie Ibru, the hotel chairman, described the [...]
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