Customs FOU Ikeja rakes in N1.3bn in Dec., arraigns 2 Chinese for illegal exports
The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone ‘A’ Ikeja, Lagos having intensified its anti-smuggling operations intercepted various contrabands with a duty paid value (DPV) N893,873,250.00 in December last year. The unit through its interventions recovered N494,416,975.92 from…
CBN, NIBBS reward Skye Bank’s drive against e-fraud
An industry-wide survey administered by the Central Bank of Nigeria (CBN), in conjunction with NIBBS which culminated in rewarding institutions during Nigeria Electronic Fraud Forum (NeFF) Annual Dinner and Awards has voted Skye Bank“The Most Committed Watch Listing Bank in…
FG’s policy inconsistency marred maritime industry in 2016—Stakeholders’
Terminal operators, clearing agents and all other stakeholders including importers and exporters in the nation’s shipping industry have traced 2016 hiccups in the sector to Federal Government’s unfavourable policies and summersaults’ in official statements According to them, the price for…
Tella advises CBN to pursue quantitative easing approach on forex in 2017
Leading Economist, Prof. Sheriffadeen Tella, has said that the Central Bank of Nigeria (CBN) must pursue monetary or quantitative easing approach in 2017 to revitalise the nation’s economy and solve the country’s lingering foreign exchange crisis. The Professor of Economics,…
Dangote Tomato set to resume production next month as Tomato harvest booms
All is set for the resumption of production activities at Dangote Tomato Processing Factory in Kadawa, Kura Local Government Area of Kano State in February. The company, which began production in February 2016, had to suspend operation due to paucity…
Diversify focus on Nigerian content beyond oil & gas to grow other sectors—Wabote
The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, has called on the federal government to diversify attention and focus on Nigerian content beyond the petroleum industry in order to give local companies operating in other…
Winners emerge on NNPC’s 2017/18 crude term contract
The Nigerian National Petroleum Corporation (NNPC) Wednesday announced names of 39 bidders for the sale and purchase of Nigerian crude for 2017/2018. The request for the expression of interest had been on since last year where experts say this is…
Fidelity, Diamond, Sterling banks’ exit as 3 oil groups enter recalibrated NSE 30 Index
Following the bi-annual review of trading indices at the Nigerian Stock Exchange (NSE), three banks, including Diamond Bank Plc, Fidelity Bank Plc and Sterling Bank Plc have exited from the NSE 30 index. However, their exit provided smooth way for…
Scarcity of Tokunbo cars looms as importers shun seaports as agents seek 3 months delay
Checks at several terminals specializing in handling car imports have shown poor activities contrary to speculations that the ban on using land borders to import cars will spark off boom at the seaports. This is as leading clearing agent group,…
