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Yearly Archives: 2019

Customs comb Lagos-Abeokuta road, hunt for smuggled rice

Customs comb Lagos-Abeokuta road, hunt for smuggled rice

Operatives of the Nigeria Customs Service have laid siege to the Lagos-Abeokuta Expressway and other locations in the Ado-Odo/Ota Local Government Area of Ogun State in search of smuggled rice, frozen poultry and other contraband brought into the country through ...

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DPR warns fuel stations against sharp practices

NDPR expands modular refinery capacity by 5,000bpd

The Department of Petroleum Resources has said it will sanction any fuel stations found engaging in sharp practices. The DPR also urged Nigerians to avoid stockpiling petroleum products at home during the festive season, saying there would be no fuel ...

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FG sets up EIA panel on 1,350MW plant

FG sets up EIA panel on 1,350MW plant

The Federal Government has set up an Environmental Impact Assessment panel for the proposed Abuja 1,350 megawatts Independent Power Plant. It was gathered that the panel held its review meeting on the EIA for the project in Abuja, where the ...

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Stop compelling Nigerians to pay N50 on POS transaction, CBN tells business owners

Oil marketers want petrol exempted from PoS charge

The Central Bank of Nigeria (CBN) has called on merchants who operate Point of Sale (POS) machines for cashless transaction to stop the collection of N50 charges from their customers. The CBN made the clarification amidst confusion generated by the ...

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OMSL Anchorage Contract Void From Outset – Bello

Shippers Council To Hold Sub-Regional Conference On Port Concession

Shippers’ Council disturbed by extra cost, NIMASA stunned  By Kenneth Jukpor Following the submission of the National Assembly on the Secure Anchorage Area (SAA) last week which also highlighted Nigerian Shippers’ Council’s (NSC) silence on the practice, the Council has ...

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Complaints: CBN imposes N2m fine, others on banks

Complaints: CBN imposes N2m fine, others on banks

Any bank that failed to acknowledge the complaints from depositors, will pay a fine of N2m, guidelines from the Central Bank of Nigeria, stated. Besides, each week the bank refused to address customer’s complaints within the prescribed timelines, it would ...

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11 Plc Acquires Lagos Continental Hotel From AMCON

11 Plc Acquires Lagos Continental Hotel From AMCON

11 Plc, formerly known as Mobil Oil Nigeria Plc, says it has finalised discussions with the Asset Management Company of Nigeria to acquire the Lagos Continental Hotel. The company said in a statement filed at the Nigerian Stock Exchange on ...

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ECOWAS endorses Adesina for second term at AfDB

Alternative energy: AfDB to invest $600m in Africa

The Economic Community of West African States has endorsed the candidacy of African Development Bank President, Akinwumi Adesina, for a second term in office. The decision was taken at the 56th ordinary session of the Authority of Heads of State ...

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No date yet for border reopening, says FG

Consumer goods producers groan under border closure

The Federal Government has yet to decide a terminal date when the country’s border will be reopened to neighboring countries. The Federal Government had in August closed its borders to neighboring countries in an exercise code-named operation Exercise Swift Response. ...

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Don’t auction 24 seized tankers, petrol dealers beg Customs

Don’t auction 24 seized tankers, petrol dealers beg Customs

Idi-Iroko in  the Ipokia Local Government Area of the state  by the Joint Task Force established while  implementing the 20 km radius on the sale of petrol ordered  by the Federal Government  . They said their tankers were impounded for ...

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Customs raid Mubi market for foreign rice

Customs raid Mubi market for foreign rice

Officers and men of the Adamawa/Taraba Command of the Nigeria Customs Service on Friday raided Mubi town market for foreign rice and other contraband. The raid, led by the Comptroller, Kamardeen Olumoh, resulted in the seizure of many bags of ...

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NCC cleans up 24 million subscribers’ records

NCC, Infracos To Raise N265bn For Broadband Infrastructure

The Nigerian Communications Commission says it has cleaned up the data of 24 million validly registered telecom subscribers’ records. The commission, in a statement highlighting its activities from January to October 2019, said the subscribers’ registrations were regularised using Automated ...

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Crude oil, gas exports increase by 53% –NNPC

Crude oil, gas exports increase by 53% –NNPC

The Nigerian National Petroleum Corporation on Sunday announced that crude oil and gas export sales increased by 52.84 per cent to $355.93m in September 2019. NNPC’s crude oil and gas exports in September were $123.06m higher than the $232.87m recorded ...

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CBN slashes banks’ ATM withdrawal fee to N35

CBN slashes banks’ ATM withdrawal fee to N35

The Central Bank of Nigeria on Sunday reduced the withdrawal fee charged for the use of other banks’ Automated Teller Machines by 46.15 per cent from N65 to N35. The N35 ATM fee according to the CBN should be imposed ...

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Decision on $10bn NLNG Train 7 suffers fresh delay

Decision on $10bn NLNG Train 7 suffers fresh delay

The Federal Government and other shareholders of the Nigeria LNG Limited failed to take a final investment decision on the company’s Train 7 project last week, our correspondent has learnt. It was gathered that the Final Investment Decision was due ...

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Hon. Mrs. Promise Anaroke’s Burial (2)

The body of Late Hon. Mrs. Promise Anaroke was buried at Kingsley Anaroke’s compound in Inyi, Orji River Local Government Area, Enugu State at the penultimate weekend. It was an event graced by Enugu political bigwigs, colleagues and friends across ...

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BEARS: NIGAV Foodies

At most events dinner is served at the end of the programme. However, the organizers of the Nigeria Aviation Awards (NIGAV), Mr. Fortune Idu decided not to keep his guests hungry, so he fixed the time of the dinner during ...

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BULLS: Iheanacho ‘Mr. Credible’

BULLS: Iheanacho 'Mr. Credible'

It has become common practice for people to use research materials for presentations and enjoy the accolades without crediting those who did the hard work. While delivering speeches or making such presentations, it is the presenter who receives the applause ...

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Effective Funds Management

Effective Funds Management

Funds management is the overseeing and handling of a financial institution’s cash flow. The fund manager ensures that the maturity schedules of the deposits coincide with the demand for loans. To do this, the manager looks at both the liabilities ...

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How Political Interference Negates PPPs, FDIs In Nigeria - Utomi

By Kenneth Jukpor Prof. Patrick Utomi is the Founder, Centre for Values in Leadership (CVL). He was a guest speaker at the recent National Transport Summit organized by the Chartered Institute of Transport Administration (CIoTA) National Transport Summit and he discussed ...

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