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Nigerian Enterprises Promotion Decree
The Nigerian Enterprises Promotion Decree or NEPD 1972 as amended in 1977 was meant to effect changes in the ownership structure of businesses in Nigeria and to provide opportunity for indigenous capital to have assertive control of the economy. The law also restricted economic activities of foreign firms to certain areas and obliged the firms to add Nigerians as partners. Up to 1,130 companies were affected, some companies transferred equity through private placement while others listed on the stock exchange. A total of 81 companies listed shares on the stock exchange worth a total value of 210 million naira while majority offered the shares through private placement. The decree was repealed in 1995 with the promulgation of the Nigerian Investment Promotion Act. Background Prior to the end of colonial rule in 1960, Nigerian businessmen had been agitating for protection of indigenous capital from foreign competition, while a clamour to reduce expatriate quota resulted in Nigerian ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indigenization
Indigenization is the act of making something more native; transformation of some service, idea, etc. to suit a local culture, especially through the use of more indigenous people in public administration, employment and other fields. The term is primarily used by anthropologists to describe what happens when locals take something from the outside and make it their own (such as: Africanization or Americanization). History History of the word The first use of the word ''indigenization'' recorded by the OED is in a 1951 paper about studies conducted in India about Christian missionaries. The word was used to describe the process of making churches indigenous in southern India. It was used in ''The Economist'' in 1962 to describe managerial positions and in the 1971 book ''English Language in West Africa'' by John Spencer, where it was used to describe the adoption of English. Indigenization is often used to describe the adoption of colonial culture in Africa because of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multinational Corporation
A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC, to distinguish it from international portfolio investment organizations, such as some international mutual funds that invest in corporations abroad simply to diversify financial risks. Black's Law Dictionary suggests that a company or group should be considered a multinational corporation "if it derives 25% or more of its revenue from out-of-home-country operations". Most of the largest and most influential companies of the modern age are publicly traded multinational corporations, including '' Forbes Global 2000'' companies. History Colonialism T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Repeal
A repeal (O.F. ''rapel'', modern ''rappel'', from ''rapeler'', ''rappeler'', revoke, ''re'' and ''appeler'', appeal) is the removal or reversal of a law. There are two basic types of repeal; a repeal with a re-enactment is used to replace the law with an updated, amended, or otherwise related law, or a repeal without replacement so as to abolish its provisions altogether. Removal of secondary legislation is normally referred to as revocation rather than repeal in the United Kingdom and Ireland. Under the common law of England and Wales, the effect of repealing a statute was "to obliterate it completely from the records of Parliament as though it had never been passed." This, however, is now subject to savings provisions within the Interpretation Act 1978. In parliamentary procedure, the motion to rescind, repeal, or annul is used to cancel or countermand an action or order previously adopted by the assembly. Partial or full repeals A partial repeal occurs when a specified p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nigerianisation
Nigerianisation was the policy of training and posting Nigerians to positions of responsibility previously occupied by expatriates in the public service of the government of Nigeria. The process was largely implemented in the 1950s. It was gradual and involved reorganizing government agencies and expanding educational facilities at selected high schools and colleges. Nigerianisation became important as Nigeria marched towards independence, the Nigerian Council of Ministers and the House of Representatives both supported the idea of a Nigerian control of the Public Service' senior positions such as permanent secretaries. Background Colonial service In the 1930s, the Colonial Service administration became unified and controlled from London, rendering it the image of a unified empire. A consequence of the unified system was the recruitment and placement of officers into the Nigeria service was processed through the London office while little deliberation was considered for suitable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Development Planning
Urban planning, also known as town planning, city planning, regional planning, or rural planning, is a technical and political process that is focused on the development and design of land use and the built environment, including air, water, and the urban infrastructure, infrastructure passing into and out of urban areas, such as transportation, communications, and distribution networks and their accessibility. Traditionally, urban planning followed a top-down approach in master planning the physical layout of human settlements. The primary concern was the public welfare, which included considerations of efficiency, sanitation, protection and use of the environment, as well as effects of the master plans on the social and economic activities. Over time, urban planning has adopted a focus on the social and environmental bottom-lines that focus on planning as a tool to improve the health and well-being of people while maintaining sustainability standards. Sustainable development ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nigerian Civil War
The Nigerian Civil War (6 July 1967 – 15 January 1970), also known as the Nigerian–Biafran War or the Biafran War, was a civil war fought between Nigeria and the Republic of Biafra, a secessionist state which had declared its independence from Nigeria in 1967. Nigeria was led by General Yakubu Gowon, while Biafra was led by Lieutenant Colonel Chukwuemeka "Emeka" Odumegwu Ojukwu. Biafra represented the nationalist aspirations of the Igbo ethnic group, whose leadership felt they could no longer coexist with the federal government dominated by the interests of the Muslim Hausa-Fulanis of Northern Nigeria. The conflict resulted from political, economic, ethnic, cultural and religious tensions which preceded the United Kingdom's formal decolonization of Nigeria from 1960 to 1963. Immediate causes of the war in 1966 included a military coup, a counter-coup, and anti-Igbo pogroms in Northern Nigeria. Control over the lucrative oil production in the Niger Delta also played a vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Bank Of Nigeria
First Bank of Nigeria Limited is a Nigerian multinational bank and financial services company in Lagos, Nigeria. It is the premier bank in West Africa. The First Bank of Nigeria Limited operates as a parent company, with the subsidiaries 'FBN Bank' in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal; FBN Bank UK Limited in the United Kingdom with a branch in Paris; First Bank Representative Office in Beijing to capture trade-related business between geographies. First Bank also operates First Pension Custodian Nigeria Limited, Nigeria's foremost pension custodian. The teeming customers of the First Bank Group are serviced from a network of over 700 business locations across Africa. To promote financial inclusion and reach the unbanked, First Bank has an extensive Agent Banking network, with over 53,000 locations across Nigeria. The Bank specializes in retail banking and has the largest client base in West Africa, with over 18 million customers. For ei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Union Bank Of Nigeria
Union Bank of Nigeria Plc is a commercial bank in Nigeria. It has been operating in Nigeria since 1917. Overview Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. In July 2009, it was rated the 556th largest bank in the world and the 14th largest bank in Africa. As of Mar 31, 2018, the bank's asset base was estimated at NGN1, 381 billion (US$4.1billion). The shareholders' equity at that time was estimated at NGN286 billion (US$851 million). History The bank's history can be traced to 1836 when London bankers and British merchants obtained a royal charter from William IV to conduct banking business in the Caribbean. These group of investors then formed Colonial Bank. Following an act of parliament empowering the bank to open more branches beyond the Caribbean, Colonial bank began operations in Nigeria in 1917. Operations started with banking centers in Lagos, Jos and Port-Harco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Staff And Line
Staff and line are names given to different types of functions in organizations. A line function is one that directly advances an organization in its core work. This always includes production and sales, and sometimes marketing. A staff function supports the organization with specialized advisory and support functions. For example, human resources, accounting, public relations and the legal department are generally considered to be staff functions. Both terms originated in the military. Staff functions A staff function is an alternate function of people in a business that do not partake instantly in an activity as they help the line functions to reach their targets. The business world is changing very rapidly and each day new kinds of issues and problems crop up. It requires specialised input to deal with these changing conditions. It requires specialists to be available who can provide appropriate business solutions. This is the benefit of the "staff function". It provides the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Nigeria
The history of Nigeria can be traced to the earliest inhabitants whose remains date from at least 13,000 BC through early civilizations such as the Nok culture which began around 1500 BC. Numerous ancient African civilizations settled in the region that is known today as Nigeria, such as the Kingdom of Nri, the Benin Empire, and the Oyo Empire. Islam reached Nigeria through the Bornu Empire between (1068 AD) and Hausa States around (1385 AD) during the 11th century, while Christianity came to Nigeria in the 15th century through Augustinian and Capuchin monks from Portugal. The Songhai Empire also occupied part of the region. From the 15th century, European slave traders arrived in the region to purchase enslaved Africans as part of the Atlantic slave trade, which started in the region of modern-day Nigeria; the first Nigerian port used by European slave traders was Badagry, a coastal harbour. Local merchants provided them with slaves, escalating conflicts among the ethnic gr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
