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Varying Interpretations Trail New Customs Duties On Vehicles 

Varying Interpretations Trail New Customs Duties On Vehicles 

By Yusuf Odejobi  One of the notable changes in the new Finance Act signed into law by President Muhammadu Buhari is the reduction in Customs levy on vehicles and this should have taken effect from January 1st, 2021. However, almost ...

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How Customs Beat Up A Journalist On Corruption Investigation

How Customs Beat Up A Journalist On Corruption Investigation

When Isaac Asimov said that violence is the last refuge of the incompetent, he may not have had the unpalatable conduct of armed security personnel in Nigeria, but his apt saying epitomizes the folly of overzealous officers who feel comfortable ...

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NIMASA Should Improve Regulation Of Boat Operators – Sanwo-Olu 

NIMASA Should Improve Regulation Of Boat Operators - Sanwo-Olu 

Lagos State Governor, Mr Babajide Sanwo-Olu, has called for improved certification regime for boat skippers and better regulation of the operations of non-convention vessels that operate in the inland waterways of the country. Governor Sanwo-Olu made the call while receiving ...

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Ports & Cargo Terminal Targets 300,000 TEUs In 2021

Ports & Cargo Terminal Targets 300,000 TEUs In 2021

Ports & Cargo Handling Services Limited, a subsidiary of SIFAX Group and concessionaire of Terminal C, Tin Can Island Port, Apapa, has set a target of 300,000 TEUs for its 2021 business year. According to John Jenkins, Managing Director, Ports ...

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Nigeria loses N189.90bn to gas flaring in 11 months

Nigeria loses N189.90bn to gas flaring in 11 months

Nigeria lost an estimated N189.90bn from January to November 2020 as international oil companies and local players flared a total of 178.95 billion standard cubic feet of natural gas. The oil companies wasted 19.95 billion scf of gas in January; ...

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Senate confirms Kuru, Hasan as AMCON, NDIC MDs

Senate confirms Kuru, Hasan as AMCON, NDIC MDs

The Senate on Wednesday confirmed Mr Ahmed  Kuru; and Bello Hassan as managing directors of the Asset Management Corporation of Nigerian; and Nigeria Deposit Insurance Corporation, respectively. The confirmation of both nominees followed consideration of two separate reports of the ...

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DisCos classify customers for service delivery

NDPHC seals agreement on power supply to Togo

• As operator disclaims redundancy at Kainji, Jebba plants Eko Electricity Distribution Company (EKEDC) has grouped its customers into five service bands depicting the quantity and quality of supply they receive, while assuring consumers that the newly-introduced Service Reflective Tariff ...

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Again, Emirates Airlines suspends flights from Nigeria

Again, Emirates Airlines suspends flights from Nigeria

Emirates Airlines has suspended flights from Nigeria to Dubai for two weeks, until February 28 2021. It said travellers from both Abuja and Lagos would not be accepted for travel prior to the date, according to a statement issued by ...

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Government struggles for balance in fuel pricing

Government struggles for balance in fuel pricing

• Independent marketers groan as ex-depot price hits N158/litre • Stakeholders seek value, pick holes in deregulation Caught in the web of revenue depletion and attempt to keep pump price of Premium Motor Spirit (PMS) stable, the Federal Government may ...

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Reps to grill NNPC, others over N3.9bn non-remittance

Reps condemn $750m annual loss to gas flaring

The House of Representatives Committee on Public Accounts is expecting the Group Managing Director, Nigerian National Petroleum Corporation, Mr Mele Kyari, to appear before it on Thursday over an audit query issued by the Office of the Auditor General of ...

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Cut oil production cost to survive, NNPC tells operators

Cut oil production cost to survive, NNPC tells operators

The Nigerian National Petroleum Corporation has urged operators in the nation’s oil and gas industry to cut the cost of production in order to survive in the face of the global energy transition. The NNPC called on stakeholders in the ...

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Anambra gov poll will be walkover if given ticket – Uba

Anambra gov poll will be walkover if given ticket – Uba

An All Progressives Congress governorship aspirant in Anambra State, Senator Andy Uba has boasted that with the party’s ticket he would win the November 6 Governorship poll. He said this while speaking to party supporters in Awka, on Tuesday. Uba ...

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At last, Kwara Assembly swears in only PDP member

At last, Kwara Assembly swears in only PDP member

After 14 months of legal battle, Kwara State House of Assembly on Tuesday bowed to pressure by swearing in Raheem Agboola as the only Peoples Democratic Party member in the 24-member Assembly. The All Progressives Congress won all the 24 ...

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Clearing agents arrested as NDLEA intercepts N32bn cocaine at Lagos port

Clearing agents arrested as NDLEA intercepts N32bn cocaine at Lagos port

Cocaine worth N32bn has been recovered in a consignment at the Tincan Port in Lagos by operatives of the National Drug Law Enforcement Agency. It was gathered that the consignment, which arrived Nigeria from Brazil on board a vessel marked ...

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How Bayelsa lost OML 46, by Sylva

FG gas expansion to lift 100m out of poverty —Minister

The Minister of State for Petroleum Resources, Timipre Sylva, said the Federal Government revoked the licence for the Atala marginal oilfield (OML 46) because it was dormant in the hands of the Bayelsa State Government for 17 years. Sylva, a ...

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Customs intercept N788.18m smuggled rice, PMS from Seme border

Customs intercept N788.18m smuggled rice, PMS from Seme border

The Nigeria Customs Service, Seme Command made 1,294 seizures with a duty paid value of N788.19m in the year 2020, the agency said on Monday. According to a statement signed by the spokesman of the command, Hussaini Abdullahi, some of ...

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CBN sticks to unpopular option on digital currency

CBN sticks to unpopular option on digital currency

• Banks disable platforms, track accounts • Investors offload assets • ‘Stay ahead of innovation, don’t stifle it’ • Moghalu knocks CBN over ‘knee-jerk’ approach • Directive good for anti-money laundering war, says Gwadabe Exchanges and investors in cryptocurrencies have ...

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2.85 million farmers benefitted from anchor borrowers programme – CBN

2.85 million farmers benefitted from anchor borrowers programme – CBN

About 2.85 million farmers benefitted from the Anchor Borrowers Programme from the inception of the scheme to the end of 2020. According to figures obtained from the Central Bank of Nigeria on Monday, N554.63bn had been disbursed, of which N61.02bn ...

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17.03 billion litres of fuel consumed in 13 months – NNPC

Petrol subsidy may hit N11.2bn per week

The Nigerian National Petroleum Corporation said on Sunday that the total sale of petroleum products for the period November 2019 to November 2020 stood at 17.031 billion litres, with petrol accounting for 16.911 billion litres or 99.29 per cent. The ...

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Cryptocurrencies breed illegal activities, raise risks – CBN

Cryptocurrencies breed illegal activities, raise risks – CBN

The Central Bank of Nigeria has said cryptocurrencies promote illegal activities and raise risks, among other reasons. It said this on Sunday in a statement regarding various comments and reactions following its recent reminder to Deposit Money Banks to desist from transacting ...

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