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NPA: Southern Nigeria Leads In Managerial Positions

NPA halts licences renewal for shipping firms over holding bay crisis

Contrary to the allegation of lop-sided appointments in the Nigerian Ports Authority(NPA), official records from the agency have shown that with a total of 302 managerial positions in the authority,179 positions are headed by workers from southern part of Nigeria, ...

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Clarion Bonded Terminal Re-Opens, Grants 4 Days Waivers To Customers

Clarion Bonded Terminal Re-Opens, Grants 4 Days Waivers To Customers

The Management of Clarion Bonded Terminal has granted its customers a four-day waiver to ensure evacuation of their containers from the terminal. The Legal Counsel of the terminal, Mr. Emmanuel Osonwa made this known on Monday on the sideline of ...

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Aviation Industry Will Get Two-prong Palliatives – Sirika

No Resumption Date Yet For International Flights - Sirika

Businesses in the aviation  sector will be given an opportunity to access a two-fold palliative from the Central Bank of Nigeria (CBN) and the Ministry of Finance and National Planning, according to the Minister of Aviation, Hadi Sirika. The Aviation ...

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Flight Resumption: NCAA Suspends Sky Power Airline, Grounds 15 Aircrafts

Confirm airports’ approval before selling tickets, NCAA warns

Nigerian Civil Aviation Authority (NCAA), has suspended the Air Operator’s Certificate (AOC) of Sky Power Express Airways Nigeria Limited. It said the suspension is as a result of non-compliance and or violations of the provision of Nigeria Civil Aviation Regulations ...

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CBN debits banks N122bn, moves to unify exchange rates

GIS Policy: Managing Loan Defaulters

The Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency at a retail auction on Friday in a move to unify its multiple exchange rates. Reuters reported on Monday that ...

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Customs Re-Opens Clarion Bonded Terminal After Shippers’ Council’s Intervention

Customs Reopen Clarion Bonded Terminal After Shippers'Council Intervention

By Kenneth Jukpor Nigeria Customs Service (NCS) has reopened the Clarion bonded terminal following the intervention of Nigerian Shippers’ Council (NSC). The bonded terminal was sealed on June 11, 2020 by the Kirikiri Lighter Terminal (KLT) Customs Command for what ...

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You can’t hijack public works scheme, Lawan tells Keyamo

You can’t hijack public works scheme, Lawan tells Keyamo

Sustains suspension of project pending further briefings The face-off between the Red Chamber and the Minister of State for Labour and Productivity, Festus Keyamo, took another dimension yesterday, as Senate President Lawan declared that the upper legislative house would not ...

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FG writes off N4.2bn debt for radio, TV stations

FG writes off N4.2bn debt for radio, TV stations

The Federal Government has decided to write off 60 per cent of the N7bn owed by radio and television stations in licensing and renewal fees. The government has also slashed the existing licence fee by 30 per cent for all ...

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CBN bows to pressure, devalues naira again

Banks’ foreign assets rise 10.2% on naira adjustment

• ‘Timing coincidental, nothing to do with IMF, World Bank’ • Economists advocate currency, lifestyle audit • Moghalu, Sanusi, others disagree on exchange rate unification The country’s fiscal state faces tougher times as the Central Bank of Nigeria (CBN) bowed ...

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Magu became a law unto himself —Ex-DSS director

BEARS: Corrupt or Anti-corrupt

A former Assistant Director with the Department of State Services, Dennis Amachree, says the acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, became a law unto himself and refused to submit to constituted authority. Amachree said this ...

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ECONOMY: Buhari to Boost Local Gas Utilization as Construction of AKK Gas Pipeline Project Commences…

ECONOMY: FG Plans to Borrow N4.28 Trillion, Spend N12.66 Trillion in 2021; MPC Holds MPR at 12.50%…

CWR, Cowry Weekly Financial Market Review Outlook Friday, July 3, 2020

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NCI Fund Increased To $350M, $20M Reserved For Women

NCI Fund Increased To $350M, $20M Reserved For Women

In a bid to enhance indigenous participation across various sectors of Nigeria’s economy, the Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB) has approved the expansion of the Nigerian Content Intervention Fund from US$200 million to US$350 ...

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IPMAN threatens strike over petrol price increase

IPMAN threatens strike over petrol price increase

The Independent Petroleum Marketers Association of Nigeria, South-West, has threatened to stop lifting of petroleum products over the hike in the petrol pump price. The South-West Chairman of IPMAN, Alhaji Dele Tajudeen, described the hike in the pump price by ...

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Lagos, Rivers lead as states domestic debts hit N4.1tn

Lagos, Rivers lead as states domestic debts hit N4.1tn

The total domestic debts for the 36 states of federation and the Federal Capital Territory stood at N4.1tn as of the end of March, 2020, the Debt Management Office has disclosed. According to the DMO, Lagos led with a debt ...

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Rising COVID-19 cases, unfavourable policies drag NSE’s index by 1.99%

Rising COVID-19 cases, unfavourable policies drag NSE’s index by 1.99%

Analysts blame proposed electricity tariff hike, PMS increment The Nigerian Stock Exchange (NSE) suffered another week of losses, amid rising COVID-19 cases, and the persisting foreign exchange (forex) illiquidity in the market. Consequently, the NSE All-Share index (ASI), and market ...

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Airlines raise fares as domestic flights resume Wednesday

Airlines raise fares as domestic flights resume Wednesday

There has been a significant increase in the airfares as airlines prepare to resume operations Wednesday. The Federal Government had directed the resumption of domestic flights on July 8th after the March 30th lockdown of the airlines. Checks by our ...

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Discos get tariff guidelines for additional power distribution

Discos get tariff guidelines for additional power distribution

The Nigerian Electricity Regulatory Commission has outlined guidelines which power distributors must adhere to when purchasing additional generation capacity that will lead to higher tariffs payable by power users. According to the commission, the tariff for such additional generation capacity ...

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Physical distancing impossible on flights, says aviation minister

International flights to resume in weeks –FG

Minister of Aviation, Hadi Sirika said it is almost impossible to achieve physical distancing on flights without hurting the revenue of airlines. He said this during a webinar attended by stakeholders in the aviation sector. The webiner focused on the ...

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NIMASA, Navy harmonise training programme

NIMASA, Navy harmonise training programme

The Nigerian Maritime Administration and Safety Agency and the Nigerian Navy have announced plans to harmonise training procedures to effectively safeguard the country’s maritime space. This was revealed in Lagos when the Director-General of NIMASA, Dr Bashir Jamoh, hosted the ...

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FG appoints, redeploys NNPC top management staff

NNPC in $1.5bn oil-for-loan deal with traders

The Federal Government has carried out some changes in the top management of the Nigerian National Petroleum Corporation. It made new appointments and redeployments at the corporation and confirmed Friday’s report of The PUNCH on resignation of NNPC’s Chief Operating ...

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