UNDERSTANDING FOREIGN CURRENCIES

Many companies develop foreign activities for many reasons and everything seems to be globalizing now. It means that foreign activities of any company are more and more significant. And of course, financial statements of foreign businesses have become more important, too. But here is the issue: Still, the world does not use a single currency. Instead,

NIGERIA ECONOMIC HIGHLIGHTS FOR JUNE

JUNE HIGHLIGHTS

• Oil prices reach a 16month high of $117pb in June

• Rule of thumb is that a $10 increase in oil price leads to a. 0.2% decline in global growth

• Global GDP is expected to grow at 2.85% in 2014 and is currently at $75trn

• Estimated revenue for the month should exceed $6bn

OFFENCES & PENALTIES- PENSION REFORM ACT 2014

Offences and Penalties

The Act includes a few novel provisions with respect to offences and penalties. The Act criminalises an attempt to commit an offence and imposes the same penalty as the offence itself.

The penalties for misappropriation have also

PENSION REFORM ACT 2014

 Key Highlights and Salient Points

On 1 July 2014, President Goodluck Jonathan signed into law the new Pension Reform Act 2014 which repealed the Pension Reform Act No. 2 of 2004 (repealed Act). Like the repealed Act, the new Pension Reform Act governs and regulates the administration of the contributory pension scheme for