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BEARS: Trapped Goods @Seaports

18 fuel-laden vessels waiting to berth at Lagos port

Some exhibitors at the just-concluded 2018 Lagos International Trade Fair have lamented their inability to evacuate their goods from the seaports in time to sell at the fair, due to the delays in clearing processes coupled with the lingering gridlock ...

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Untold Story Of Ali’s Customs—Mystery Guest

Corruption Incorporated: 100 ‘Hameed Alis' Can’t Change Corruption In Nigeria Customs

There is a seething corruption in the Nigeria Customs Service (NCS) led by Col. Hameed Ali (rtd) as Comptroller General (CG).  In this mystery interview, our guest reveals a lot in this session. Excerpt: Customs is a highly technical government ...

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Port System Collapse: Igbos Are Losing Their Investments – Aniebonam

BEARS: Aniebonam And Kpokirikpo Spirit

Chief Dr. Boniface Okechukwu Aniebonam is an enigma of sort. He is a leader who believes in teaching the led how to fish even while providing the fish also. He founded the National Association of Government Approved Freight Forwarders(NAGAFF), which ...

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Govs Earn Over N600,000, Not N500,000 – Investigation

Govs Earn Over N600,000, Not N500,000 – Investigation

Contrary to the claim by Governor Kayode Fayemi that governors in Nigeria earn N500, 000 per month, the official monetised salary of a governor in the country is actually N648,580.62, findings from an investigation have shown. Fayemi had said that ...

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Ten Banks Accounted For 87% Of Banking Sector Fraud — NDIC

Ten Banks Accounted For 87% Of Banking Sector Fraud — NDIC

Ten Deposit Money Banks accounted for about 87.63 per cent of fraud and forgeries that occurred in the banking sector in the 2017 fiscal period. This is contained in the 2017 annual report of the banking sector prepared by the ...

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Banks Refund N66bn, $18m, Others To Displeased Customers

Banks Refund N66bn, $18m, Others To Displeased Customers

Banks in the country have returned huge sums of money in different currencies to some disgruntled depositors after they (banks) were reported to the Central Bank of Nigeria for various irregularities. According to the CBN, its intervention in about 13,715 ...

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Nigeria Can’t Attain 40bn Barrels Oil Reserve – NAPE

Nigeria Can’t Attain 40bn Barrels Oil Reserve – NAPE

The absence of fiscal policy will continue to retard investments flow in Nigeria’s oil and gas industry, such that attainment of 40 billion crude oil reserve will not be realized, the Nigerian Association of Petroleum Explorationists, NAPE, has said. The ...

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2019: Why Niger-Delta States Can’t Take 100% Of Oil Revenues – Atiku

2019: Why Niger-Delta States Can’t Take 100% Of Oil Revenues - Atiku

The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has said he is willing to let Nigeria’s oil producing states have absolute control of crude oil revenues from their domains, but added he is reluctant to immediately implement such ...

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Customs Seizes Truck Loads Of Ammunition, Drugs In Imo

Customs Seizes Truck Loads Of Ammunition, Drugs In Imo

 In line with its anti-smuggling operations, the Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘C’ Owerri has intercepted a truck loaded with two pump action rifles, 4375 rounds of ammunition and military camouflage all neatly concealed to deceive ...

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NACCIMA Lampoons Obsolete Nigerian Maritime Policies

NACCIMA Lampoons Obsolete Nigerian Maritime Policies

Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has admonished the Federal Government to take critical look at the policies regulation the nation’s maritime sector, describing them as obsolete policies thus hindering port efficiency. NACCIMA’s National President, ...

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Bollore, PowerChina Win Bid For Ibom Deep Seaport Project

Bollore, PowerChina Win Bid For Ibom Deep Seaport Project

A consortium comprising Bollore Africa Logistics and PowerChina International Group has been chosen as the preferred bidder for the Ibom Deep Seaport Project (IDSP) in Nigeria. Ibom Deepsea Port is located in Southeast Nigeria and is to be developed on ...

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Labour Should Intensify Struggle For Passage Of PIRB – Ex-PENGASSAN President

Labour Should Intensify Struggle For Passage Of PIRB - Ex-PENGASSAN President

Former President of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Dr. Brown Ogbiefun, has urged Organized Labour in the country to step up push for passage of the Petroleum Industry Reform Bill (PIRB) into law. Ogbeifun who ...

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Osibanjo Launches ‘TraderMoni’ in Three More Lagos Markets

Osibanjo Launches ‘TraderMoni’ in Three More Lagos Markets

The Vice President Yemi Osinbajo has launched the TraderMoni in three more markets in Lagos. Osinbajo, who led other federal and state government officials to Ikotun, Igando and Ile Epo markets recently, also urged the traders to make judicious use ...

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Agents Battle Customs over Multiple Checks in Cargo Clearance

Agents Battle Customs over Multiple Checks in Cargo Clearance

There is a growing agitation among freight forwarders plying their trade at the Lagos ports over what they described as the proliferation of Customs units which they alleged are being used for extortions and to encumber the clearance procedures at ...

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NERC Accuses Discos of Withholding Electricity Market’s Monthly Revenues

NERC Accuses Discos of Withholding Electricity Market’s Monthly Revenues

Buhari rejects commission’s car procurement request The Nigerian Electricity Regulatory Commission (NERC) has accused the electricity distribution companies (Discos) of deliberately capping their monthly revenue remittances and keeping more money for themselves. This is coming as President Muhammadu Buhari has ...

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FG: Why $2.7bn Railway Concession Talks with GE Stalled

FG: Why $2.7bn Railway Concession Talks with GE Stalled

South African firm, Transnet, to take over Weather hampers completion of Lagos – Kano line The Minister of Transportation, Mr. Rotimi Amaechi, has clarified that the federal government did not sign any agreement with General Electric (GE) on the planned ...

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NASENI, Belgian firm to produce helicopters locally

BULLS: Naija Helicopters

The Federal Government’s plan to produce helicopters locally have received a boost with the expression of interest by a Belgian firm, Dynali Manufacturing Helicopters Company. Dynali, in partnership with the National Agency for Science and Engineering Infrastructure (NASENI), will build ...

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SEC to tackle identification theft in capital market

SEC to tackle identification theft in capital market

• Seeks more investors’ patronage of e-dividend  Worried about the increasing level of identity theft in the nation’s capital market, the Securities and Exchange Commission (SEC), said yesterday it was currently working in collaboration with major stakeholders in the market ...

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African marginal producers urged to leverage opportunities

African marginal producers urged to leverage opportunities

Chairman, Green Energy International Ltd., Prof. Anthony Adegbulugbe, has said marginal oil field producers in Africa must leverage unique opportunities in the oil and gas business to survive. Adegbulugbe, who spoke at the African Marginal & Independent Oil and Gas Producers ...

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Afreximbank initiates $15m scheme to source projects

Afreximbank initiates $15m scheme to source projects

Nigeria and other African countries, as well as their entrepreneurs, would soon enjoy a first treat of their projects and investment ideas, aimed at making them attractive and feasible, courtesy of the African Export-Import Bank (Afreximbank). The bank unveiled the ...

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