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Ease of doing business looking good as PEBEC cuts Customs clearing rules, CAC hassles


More bites are now given to the ongoing crusade by the federal government to reduce the challenges in doing business in Nigeria following the reforms announced by the Presidential Enabling Business Environment Council (PEBEC) in Abuja. Lead in the reforms includes the reduction in the number of documents and receipts needed in the clearing of imported goods and goods for ...

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Customs ready to issue vehicle terminal license to operators with N50 million bank bond

Ali Customs boss

Again, the authorities of the Nigerian Customs Service (NCS) has reaffirmed readiness to issue valid Vehicle Bonded Terminal to interested operators who have secured at least a spacious space capable of containing enough number of vehicles and was able to secure a N50 million bank bond to operate the terminal. Customs image maker, Mr. Joseph Attah said in an interview ...

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Power generation on the rise, hits 4,518MW

dam scheme

Indications have emerged showing that the success of the recent tour of the oil rich Niger Delta by the Vice President, Prof. Yemi Osinbajo has continued to bear fruits not only in raising oil production output, but in power generation. This is seen from the daily power generation report released by the Transmission Company of Nigeria (TCN) which shows that ...

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‘CBN should first investigate its officials in forex manipulation before commercial bank chiefs’

CBn Emefiele

The recent report that the Central Bank of Nigeria (CBN) is watching closely the activities of top officials of commercial banks allegedly involved in illegal foreign exchange transactions has drawn reactions from Nigerian who argue that the investigations should start from the directors level at the apex bank. Business Hilights recalls that during the heat of galloping lose of value ...

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MFBs, others begin BVN as CBN sets August 1 as deadline

BVN live

Following the recent revelation by the Minister of Finance, Mrs. Kemi Adeosun that majority of looters and government officials who live on ghost workers salaries have moved their illicit game to Micro Finance banks (MFBs) where Bank verification Number (BVN) policy was not extended to, the Central Bank of Nigeria (CBN) has relied on the observation to introduce the policy ...

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Who’s Presidency?: Expert warns presidency to be careful with embattled SGF, Lawal


Reading security intelligence meaning to the outburst of the troubled Secretary to the Government of the Federation (SGF), Babachir Lawal, the day he got feelers of his suspension, a Lagos security tactician has called for caution. In an interview, the private security operative who pleaded anonymity said “When I took time to read meaning into that very short question put ...

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Retired CBN official unveils why cashless policy in 30 states was suspended after takeoff

Buhari CBN

It would have amounted to double tragedy in the face of the excruciating economic pains caused by recession and height of insensitivity on the side of the Central Bank of Nigeria (CBN) if it had gone ahead with the Cashless Nigeria Policy in remaining 30 states of the federation. This was the position of experts who barred their minds on ...

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Blame Democrats if govt is shut down due to Mexico wall funds Friday—US Attorney General


Whereas President Donald trump is hopeful that “Mexico will pay for the border wall; ‘eventually’ and ‘in some form,’” explaining issues on ABC’s “This Week With George Stephanopoulos,” U.S. Attorney General Jeff Sessions suggested Democrats would be to blame if the government is shut down over the wall. US budget is by law supposed to be passed by the lawmakers ...

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LADOL has all it takes to facilitate any car manufacturing plant— Amy Jadesimi

Ladol Amy

The Managing Director of the Lagos Deep Offshore Logistics (LADOL), Dr. Amy Jadesimi, has opened up on the quality and standard of facility already in place at the company facilities on the Free Zone. Giving insights on the preparedness of the company in providing logistics for mega companies to operate seamlessly, she said all basic things a company needs to ...

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Why CBN approved Roosevelt Ogbonna as Access Bank Deputy Managing Director

Access Bank

Following the resignation of former Deputy Managing Director of Access Bank Plc, Mr. Obinna Nwosu who left to pursue his personal endevours and the approval of Mr. Roosevelt Ogbonna as the new Group Deputy Managing Director by the board of the bank, the Central Bank of Nigeria (CBN) has given nod for the appointment. A statement by the bank revealed ...

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