Daily Archives: February 13, 2020

Declare state of emergency on Lagos ports, clearing agents urge government

Declare state of emergency on Lagos ports, clearing agents urge government

The Federal Government has been urged to declare a state of emergency on Lagos ports including Apapa and TinCan, to enhance efficiency in import and export activities. Lagos ports have continued to suffer setbacks due to issues around cargo congestion, ...

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Despite congestion, shipping firms reaffirm readiness to call at Lagos ports

Absence of cash transactions in banks stalls cargo clearing

As the lingering cargo congestion bites harder, the world’s largest container carrier, Maersk, and its sister company, Safmarine, have restated their commitment to continue to call at the Lagos seaports. The two firms, in a separate Customer Advisory issued last ...

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Stakeholders berate CBN over $17 billion illicit financial flows

Business operators lack trust in economy – CBN report

• Over one million illegal operators still active, says ABCON Illicit Financial Flows (IFFs) out of Nigeria may not subside unless the Central Bank of Nigeria (CBN), takes a bold step in designing preventive measures and enforcing regulations that would ...

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No privatisation of refineries, JV assets yet, says BPE

FG refineries suffer N19bn loss in two months

• Projects over N266.852b from sale of NIPPs, others There are no plans yet to privatise Nigeria’s ailing refineries, at least not for the 2020 fiscal year, meaning that the importation of refined products with the attendant subsidy cost, which has ...

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Market sustains uptrend as index rises marginally by 0.02%

NSE reopens bearish as investors’ lose N119 billion amid profit-taking

Transactions on the equities sector of the Nigerian Stock Exchange (NSE), sustained previous day uptrend, following gains in most blue chip stocks, as the All-share index rose marginally by 0.02 percent. At the close of trading yesterday, the All Share ...

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Nigeria, Ethiopia sign pact on visa waiver, defence

Nigeria, Ethiopia sign pact on visa waiver, defence

Nigeria and Ethiopia have signed a pact on visa waiver for diplomatic and official passport holders. They also agreed to relate mutually on defence matters. President Muhammadu Buhari and Prime Minister Abiy Ahmed witnessed the signing on Tuesday in Addis ...

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