Business

Between May 16th and June 12th 2018, the Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone ‘A’ Ikeja, confiscated various contraband, goods and vehicles with a duty paid value (DPV) of One Billion, Three Hundred and Forty Five Million, Five Hundred and Seventy Two Thousand, Three Hundred and Thirteen Naira,(N1,345,572,313) Also, the unit through its interventions recovered Fifty NineMillion, Five Hundred …

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For the 16th month, inflation rate continued a downward trajectory, declining from 12.48 per cent in April to 11.61 per cent in May. This is just as the US Federal Reserve Wednesday hiked its benchmark short-term interest rate a quarter percentage point and indicated that two more increases are likely this year. The Fed pushed interest rate to a range …

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Financial and economic experts have said a downward review of the Monetary Policy Rate by the Central Bank of Nigeria will no longer be necessary. Private sector operators and some stakeholders, including experts have been clamouring for a reduction in the MPR to enable the real sector to access more credit from banks. According to the experts, who spoke to …

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The Federal Government has said that while it may not be feasible to complete the ongoing rehabilitation work on the Apapa Port access road by the set deadline of June, the work will be completed by the third quarter of this year. Mr. Jude Oboh from the Presidential Enabling Business Environment Council stated this in Lagos on Wednesday at the …

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has restated its commitment to the welfare of dock workers in the maritime industry as the Agency organised a meeting of the employers and labour unions in the maritime sector under the aegis of the National Joint Industrial Council (NJIC) in Lagos. The Chairman of the NJIC who is also the Executive …

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The Managing Director, Nigerian Ports Authority, Hadiza Usman, has urged the private sector to take advantage of the enabling environment created by the President Muhammadu Buhari administration and invest in the nation’s maritime sector. She said this in Onne, River State, before she inaugurated the latest addition to Nigerian fleet, the MV Osanyamo, owned by Starzs Investment Limited. Usman stated, …

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Dangote Group, from Nigeria has emerged as the most admired African brand, of African continent origin, by consumers ahead of telecommunication giant, MTN according to the South African based Brand Leadership Movement in collaboration with the Johannesburg Stock Exchange (JSE). The Dangote brand which is also the leading brand in Nigeria came atop in the fresh ranking of 100 best …

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THE Nigerian Civil Aviation Authority (NCAA) says the December 24, for the proposed take-off of national carrier is feasible, its Director General, Capt Usman Mukhar, said yesterday. Usman said if promoters of the project are properly guided to follow through with regulatory requirements, the process of getting an Air Operators Certificate (AOC) only takes 90 days. Usman assured that with …

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The Lagos state government acquired ownership of the Lekki Concession Company (LCC) and the Lekki-Epe expressway toll gate in December 2014, TheCable can report. The LCC had in February hiked the toll payable by vehicles plying the route, a move antagonistic to one of Lagos’ stated reasons for the acquisition. In August 2013, the administration of ex-governor Babatunde Fashola had …

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The Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars to meet customers’ requests in various segments of the foreign exchange market. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor in a statement in Abuja said the bank offered 100 million dollars to authorised dealers in the wholesale segment of the market. He said that the Small and Medium …

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