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Learn Finance with CA: Q&A on Shares vs Stocks
By Yunus Ibrahim Question 1: How are shares different from stock? Answer : Shares represent ownership in a single company while stocks signify ownership in different company. Stocks means a portfolio or group of shares. Question 2: What is meant by conversion of shares into…
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The Walt Disney Take Over of Murdoch’s Fox for $52bn
By S A Faisal The incessant emergence of new entrants and technology have resulted to a number of competition across multiple sectors which have consequently led to mergers and acquisitions in these sectors. The Walt Disney agreed to buy the bulk of 21st Century Fox’s…
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South Africa: Labour Laws
In November 2017, the National Assembly in South Africa passed several labour legislation that have effect on on both employers and employees. These include the National Minimum Wage Bill, The Basic Conditions of Employment Bill and The Labour Relations Amendment Bill. The National Minimum Wage…
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The Companies and Allied Matters Act: Prospects and Hurdles for the Nigerian Business Sector
By Uche Osita The Nigerian Companies and Allied Matters Bill[1] was recently passed by the senate on the 15th of May 2018. It seeks to repeal and re-enact the erstwhile Companies and Allied Matters Act 1990.[2] The bill is set to transform the business sector…
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Learn Finance with CA
by Folasade Akinbowale MUTUAL FUNDS A mutual fund is an investment vehicle made up of a pool of money collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and other assets. Mutual funds are operated by professional…
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The Nightmare of Ailing Banks of Nigeria
By Toluwani Oyedemi Introduction It is no news that the year 2018 has been an eventful one for the Banking Industry in Nigeria. In the past four months, major changes have been made in the Industry at an alarming rate. The first was the takeover…
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Berlin Arms Sale to Riyadh ‘Violates International Law’
Karl Justen, the head of Gemeinsame Konferenz Kirce und Entwicklung (GKKE), a non profit ecumenical has stated that the German government has breached international law by continuing it’s supply of arms to Saudi Arabia. This is despite the fact that the German foreign Minister, Heico…
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Eli Lilly & Company to Acquire 100% Stake in Loxo Oncology, Inc.
Introduction Eli Lilly and Company (NYSE:LLY) entered into a definitive agreement to acquire Loxo Oncology, Inc. (NasdaqGM:LOXO) from Aisling Capital III, L.P., a fund managed by Aisling Capital LLC and others for $7.2 billion on January 5, 2019. Business Description Seller is a biopharmaceutical company that…
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Comparisons of the 2014, 2016, 2018 IMF Reports Based on Economic Indicators
GDP PERFORMANCE 2014 real GDP estimated at about 6.23% compared to 5.4% in 2013. Growth was generally driven by the non-oil sector. The economy is diverse with services accounting for 50% and oil only 13% of GDP in 2013. Growth was driven by the non-oil…
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Latin America’s Renewable Energy Revolution
Latin America so rich in natural resources has contributed to the world’s economic growth through their natural resources such as iron, silver galleons, copper, etc. This resources have helped grown some countries like China and the Spanish empire which has benefited immensely from the export…
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Finance Wrap Up
EU agrees the Brexit withdrawal Headlines continue to be dominated by Brexit and the withdrawal agreement that Theresa May is aiming to pass through Parliament. There was no such problem for the European Commission, who got the agreement of the 27 leaders of the EU…
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The Application of Damage Without Legal Injury and the Effect of Anti-Trust Regulations in Nigeria
Introduction This piece of legal exposition is essentially designed to consider the applicability of the principle of damnum sine injuria as juxtaposed with anti-trust regulations and rules on the prohibition of anti-competitive practices in the Nigerian open market economy and the world over. It suffices…
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Mergers & Acquisitions: Why Should You be Looking at Kenya?
Merger and acquisitions across the world happen as firms look to create synergy from collaborating while eliminating competition and diversifying their outreach at times. It is the main driver of economic activity given the magnitude of the players involved as well. However, M&A activity in Africa has suffered…
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The Implications of Courterfeiting and Forgery under the Merchandise Act 2004
The term "Counterfeiting" in the ordinary sense refers to the act of fraudulently manufacturing, altering, or distributing a product that is of lesser value than the genuine product. There are so many legislations in Nigeria in relation to counterfeiting one of which is the Merchandise…
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Access Bank Plc Acquires Diamond Bank Plc
Introduction After weeks of speculation as to the true nature of the deal between Access Bank and Diamond Bank, the two parties finally released press statements confirming a merger (Acquisition) deal on the 17th of November, 2018. About Seller Company Diamond Bank Plc, together with…
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Media Intimidation in 2018
Media Intimidation in 2018: Terror arises among journalists in the world as 2018 marks off myriads of attacks to the media. Is the press really the fourth estate? In all democratic countries across the globe the freedom of speech and media is a forefront right.…
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Learn Finance with CA: What Investment Banks Do – Raising Capital and Securities Underwriting
Investment banks offer several services including capital raising, mergers and acquisitions, sales, trading and equity research. Today we will explain what the capital raise and securities underwriting process is all about. Investment Banks are middlemen between companies that want to issue new securities and the buying…
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LVMH Moët Hennessy Louis Vuitton S.E. to Acquire Belmond Ltd
LVMH Moët Hennessy Louis Vuitton S.E. entered into a definitive agreement to acquire Belmond Ltd. for $2.6 billion on December 14, 2018. LVMH is to acquire Belmond for $25 per Class A share in cash. About Seller Company Belmond Ltd. engages in the hotel…
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Africa Transformed: How will Intra African Trade Impact Growth in 2021?
With the estimated volume of trade between countries in Africa valued at about $1trillion every year. The Executive Vice President, Business Development and Cooperate Banking Africa Export and Import Bank Amr kamel, during the structure trade finance seminar and workshop in Casablanca, Morocco said that…
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Africa of My Dreams
Nigeria, an African country on the Gulf of Guinea comprised of different ethnic groups with over a population of 188,462,640 people. The world's 32nd largest economy in terms of land mass and also the "giant of Africa" as referred to, but whom really has lot…
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How Much Do You Need to Win 2019 Elections?
"I just received the following wire from my generous Daddy: ''Dear Jack, Don't buy a single vote more than is necessary. I'll be damned if I'm going to pay for a landslide.'"- John Kennedy This post does not celebrate the ugly incidence of vote-buying but…
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How does the EU’s GDPR affect South Africa?
Data Protection and Privacy laws are the current subjects of interest for multiple organizations around the world. The chatter is mainly about the European Union’s General Data Protection Regulation which came into force early this year on the 25th of May. The GDPR is an…
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The Role of State Contracts in Nigeria’s Under-Development
The Opportunity that awaits under International Investment Law Introduction International Investment Law is a branch of law that regulates and protects the business interest of individuals in foreign countries. These countries in which these investments have been made, could…
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Learn Law: Copyright Infringement, State Contracts, Illegal Contracts
Learning Law with Commercially Aware Copyright Infringement – Intellectual Property Law State Contracts – International Investment Law Illegal Contracts – Contract Law Copyright Infringement Copyright, in general terms, is the intellectual property right of a copyright owner to prevent unauthorized productions of a…
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Inflationary Pressures
Inflation is the sharp increase in the price of goods and services over a certain period of time. It's a term in Economics which implies you have to spend more to fill your cooking gas tank, to buy more or to get a movie ticket.…
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Understanding Stock Market Indices
By gaining a clear understanding of how indices are created and how they differ, you will be on your way to making sense of the daily movements in the stock market. According to Investopedia, A market index is a weighted average of several stocks or…
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Derivatives
Derivatives from the name it is a set of financial instruments that their value are based on an underlying asset or groups of assets which are commodities, currencies, bonds, interest rates, market indexes and stocks etc. The use of derivatives to hedge risk and improve returns has…
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Will A New Minimum Wage Increase the Living Standard of Nigerians?
The Nigerian Government has reportedly agreed to increase the national minimum wage by more than 60% to 30,000 naira ($83)1, following immense pressure from labor unions in the country as they threatened to hold a strike action nationwide. Initially, Nigerian labor unions asked for an…
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Learn Finance: Leverage Buyouts, Divestitures, Spin Offs
Leveraged Buyouts A leveraged buyout is a financial transaction in which a company is purchased with a combination of equity and debt, such that the company's cash flow is the collateral used to secure and repay the borrowed money. in other words, it is the purchase…
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The Dodd-Frank Repeal
In May 2018, President Trump signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, commonly known as the Dodd-Frank repeal. While this law removes many of the regulations imposed on banks in the wake of the Great Recession, it also bears particular…
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Learn Finance: Stock Pitch, Hedge Funds, Upselling
STOCK PITCH A stock pitch is a comprehensive and systematic form of analysis used by an analyst or investor to conclude whether a particular stock will make a good investment and whether such stock should be added to his portfolio.[1] HEDGE FUNDS This is an…
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Learn Finance: Bid Price, Ask Price and Bid-Ask Spread.
Bid Price: This is the price that a buyer is willing to pay for a security/asset. In cases where there are several bid prices, the bid price would be taken as the highest price that the bidder is willing to pay. Ask Price: This is…
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Prosecutor fails to file Witness Details
In the suit against Nigerian lawmaker, Senator Dino Melaye on charges of alleged falsehood and incrimination of the Chief of Staff to Governor Yahaya Bello of Kogi State, and an alleged assassination attempt. The trial judge of the High Court of The Federal Capital Territory,…
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Gerontocractic President of Cameroon gets sworn in for Seventh Term.
Cameroons 85 year old president Paul Biya was sworn in for a seventh term after disputed elections and amid mounting unrest in an English speaking region. Biya has actually ruled the country for 36 years, since November 6, 1982 till date, and he was declared…
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VOARS, the Voluntary Offshore Asset Regularization Scheme
VOARS, the Voluntary Offshore Asset Regularization Scheme, introduced by Executive Order 008 under the hand of Mr. President, is aimed at combating tax evasion and regularization of offshore assets (defined to include income and bank balances) owned by persons resident in Nigeria for tax purposes.…
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AMCON Amendment Bill ready soon!
Will the AMCON Amendment Bill truly give more bite to the Corporation to enable it recover the bludgeoning debt (now over N6.6 trillion) it was established to recover? Will the Bill and the Act it intends to create increase the life-span of the Corporation beyond…
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Morocco, South Africa over take Nigeria in Foreign Direct Investment (FDI)
Despite the much thrown about improvement in ease of doing business, Nigeria lost its position as the lead destination in the continent to Morocco and South Africa. Other Countries doing better than Nigeria in terms of FDI include Ethiopia, Kenya and Zimbabwe. It could get…
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Africa: Free Trade Agreement on the Table
The Federal Government is currently pursuing a rigorous domestic and wide consultative process with all stakeholders in the public and private sector on the Agreement Establishing the African Continental Free Trade Area, according to Vice President Yemi Osinbajo (SAN) Prof. Osinbajo noted that this was…
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Learn Finance with CA – All You Need to Know About an Initial Public Offering (IPO)
An initial public offering, or IPO, is the very first sale of stock issued by a company to the public. Prior to an IPO the company is considered private, with a relatively small number of shareholders made up primarily of early investors (such as the founders, their…
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High Heavens: The Political Economy of Cannabis in Nigeria
"Legalise it! Don't criticise it! Legalise it! And I will advertise it"- Peter Tosh Cannabis is a topic everyone discusses but very few would understand the discussion because the bulk of what is known about the plant has been presented from tinted narratives…
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Tesco’s Shares Nose Dive
Tesco’s shares dropped 8% last week as the UK’s largest supermarket announced weaker than expected profit growth. They delivered their 11th quarter in a row of increased like-for-like sales and their pre-tax profit for the first half of the year was up 2.2%. Their acquisition…
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Apple Plans to Make its own Chips
By Aliyah Busari Apple makes a further step in their plan to build more efficient chips for their products by agreeing to a £454 million deal to bring in-house Anglo-German Chipmaker Dialog Semiconductor. The power management technology will be licensed to Apple and 300 people…
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Patisserie Valerie may also Close Shop
The cafe chain Patisserie Valerie, established in 1926, is on the verge of collapse as boss Luke Johnson provides a £20 million package as part of a rescue plan. Earlier in the week, the board had discovered a ‘secret’ overdraft, which they previously did not…
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Competition Law and Policy In Nigeria: An Overview of The Federal Competition and Consumer Protection Bill, 2016
Introduction The Federal Competition and Consumer Protection Bill ("The Bill"), although christened differently at birth, has attracted as much attention as the Petroleum Industry Bill for over one decade. Despite the fuss, there is yet to be any set of codified rules prohibiting anti-competitive behaviours…
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Before We Also Close Shop
Earlier in the year, tabloids were riddled with the devastating news of toy giant, Toys ' Us and its closing of shop outlets across the globe. For many who grew up as Toys R Us kids, walking the aisles of the popular toy store, mouth…
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Mergers & Acquisitions In Nigeria
1. Introduction In the economy of any nation, mergers and acquisition plays a very significant role. Financial Times has reported that worldwide, mergers and acquisitions activity has exceeded $3tn for the fourth consecutive year, extending an unprecedented wave of dealmaking that bankers say is set…
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A Snapshot of the Petroleum Industry Governance Bill
The Petroleum Industry Governance Bill (The PIGB) is a proposed Act of the Federal Republic that seeks to restructure Nigeria’s petroleum industry in different respects. At this moment, the bill has passed through all stages of legislative deliberations and awaits the assent of the president…
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South Africa’s Recession: A Big Blow to Ramaphorian Efforts
The Back Story After a scandal – tainted nine years reign, the former South African president, Jacob Zuma, in February, 2018 handed over to Cyril Ramphosa, of the ruling African National Congress (ANC) to lead Africa’s second largest economy – South Africa. South Africans felt…
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Understanding Base Erosion and Profit Shifting (BEPS)
Certain Terms in the realm of Taxation and generally in the corporate sphere seem rather complicated to the average Student, even with endless visits to sites which deal with semantics. In very simple terms, Base Erosion and Profit Shifting entails two things; eroding the base,…
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Clearing the Air on Economic Data: Understanding Inflation
The National Bureau of Statistics (NBS) is the public authority responsible for tracking relevant data on the Nigerian economy. The head of NBS, Dr. Yemi Kale, maintains an active presence on social media, most notably twitter. He is keen on engaging his followers on different…
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September in Retrospect: Finance & Investment Wrap-Up
In September, the following occurred on a national and global level concerning finance and investments: S&P 500 Index is headed for new highs accorded to Evercore with ETFS trading at 52- week highs while European, emerging markets slump Shares in the Shanghai-based rival to Tesla, Nio,…
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The Effects of Country-by-Country Reporting on Ultimate Parent Entity (UPE)
On 17th of August, 2017, Tunde Fowler, Executive Chairman, Federal Inland Revenue Service of Nigeria, signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the MLI) and the CRS Multilateral Competent Authority Agreement (the CRS MCAA). Base erosion and profit shifting or BEPS refers…
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