Daily Archives: February 18, 2021

NAGAFF 100% Compliance Team Inaugurates South East Zonal Office

NAGAFF 100% Compliance Team Inaugurates South East Zonal Office

As part of efforts to enforce trade rules on freight forwarders practising at the Eastern ports and curb delays in the clearance and release of cargoes from the ports, the National Association of Government Approved Freight Forwarders (NAGAFF) 100% Compliance ...

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External reserves down by $565m in two weeks

External reserves down by $565m in two weeks

The country’s external reserves dipped by $565m from $36.198bn as of February 1, to $35.633bn as of February 15, latest figures from the Central Bank of Nigeria revealed on Wednesday. The reserves which had gained in recent weeks started a ...

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Use of cryptocurrencies, a concern – IMF

Use of cryptocurrencies, a concern – IMF

The International Monetary Fund has called for caution in the use of cryptocurrencies, describing it as a concern. It disclosed this during a virtual briefing on the recently published 2020 Article IV IMF Staff Report for Nigeria. The Resident Representative ...

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Fuel price hike looms nationwide as marketers meet

Fuel queues spread over looming price hike

Marketers of Premium Motor Spirit, popularly called petrol, on Wednesday met in Abuja on matters regarding the price of the commodity. Although most filling stations in Abuja and neighbouring states of Nasarawa and Niger dispensed PMS at the approved N162/litre ...

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Crude production reconciliation creates rift in oil industry

Crude production reconciliation creates rift in oil industry

Court blocks Shell’s bank accounts Reallocation of crude oil volume from Nigeria’s Bonny Terminal between 2016 and 2018, following gaps in metered volume between oil majors and some indigenous firms, is responsible for allegations of crude theft in the nation’s ...

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Power grid collapses, plunges Lagos, others into darkness

NDPHC seals agreement on power supply to Togo

The nation’s power grid suffered its first collapse this year on Wednesday, plunging parts of the country into a blackout. Two of the electricity distribution companies in the country, Ikeja Electric Plc and Eko Electricity Distribution Company Plc, disclosed this ...

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