ICAN Business, Management and Finance 2025
Past Questions

Under the Companies and Allied Matters Act (CAMA) 2020, what is the minimum number of directors required for a public company incorporated in Nigeria?

Under the PESTLE framework for analysing the business environment, the introduction of the Nigerian Data Protection Act (NDPA) 2023 would PRIMARILY be classified as which type of environmental factor?

Alhaji Musa, the newly appointed Managing Director of Zenith Plastics Limited in Lagos, is reviewing the company's organisational structure. He notices that workers report to multiple supervisors acro…

Bello & Associates, a medium-sized audit firm in Abuja, recently restructured its operations. The firm grouped its staff into audit teams based on the type of client industry served — banking, manufac…

The Financial Reporting Council of Nigeria (FRCN) Nigerian Code of Corporate Governance 2018 recommends that the remuneration of executive directors should be determined by which committee to ensure i…

Which of the following instruments is traded in the money market rather than the capital market?

Eko Distributors Plc reported annual credit sales of ₦72,000,000. The average trade receivables balance during the year was ₦12,000,000. If the company wishes to reduce its receivables collection peri…

Lagos Retail Plc is evaluating an early settlement discount of 2/10 net 60 offered by its supplier. The company's cost of short-term borrowing is 24% per annum. Should the company take the discount? (…

QUESTION 1 Lagos Textile Manufacturing Limited (LTML) was incorporated in 2010 and has grown to become one of the leading textile producers in South-West Nigeria. The Board of Directors recently comm…

QUESTION 2 Abuja Urban Transport Authority (AUTA) is a public sector entity established by the Federal Capital Territory Administration (FCTA) to manage urban mass transit services in Abuja. In recen…

QUESTION 1 Lagos Meridian Bank Plc (LMB) is one of Nigeria's foremost financial institutions, with over 5,000 employees spread across 200 branches nationwide. Since its founding in 1985, LMB has oper…

QUESTION 1 Kaduna Textile Mills Plc (KTM) is a publicly quoted manufacturing company on the Nigerian Exchange Group (NGX). The Board of Directors is considering expanding its production capacity by e…

QUESTION 3 Mrs. Chidinma Okonkwo is a newly appointed Finance Manager at Zenith Agro-Allied Industries Plc, a publicly listed food processing company headquartered in Enugu. During her first month in…