Comptroller Bashir Abubakar, is the current Customs Area Controller, CAC, Apapa Command of Nigeria Customs Service, NCS. The Command under his watch generated over ₦404 billion revenue into the coffers of Federal Government in 2018, recorded ₦73.1billion from exports and ₦9.6 billion on 72 seizures. These feats earned Apapa Command the World Customs Organisation, WCO, […]
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Over 91 million Nigerians are now living in extreme poverty, according to the report of World Poverty Clock, a Vienna, Austria-based data lab. The report said at least three million Nigerians have slipped into extreme poverty between November 2018 and February 2019. According to the report, 91.16 million Nigerians were living below a dollar a […]
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The National Bureau of Statistics (NBS), said the average prices paid by consumers for kerosene and diesel increased in January 2019. The price of kerosene increased month-on-month (MoM) by 5.35 percent to ₦306.28 per litre last month from ₦290.74 in December 2018 while the price of diesel rose MoM by 1.59 percent to ₦225.09 from […]
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The federal government has approved the rules governing the conduct of the Disciplinary Tribunal of the Chartered Institute of Bankers of Nigeria (CIBN). According to a statement, the approval has further strengthened members and bank customers’ confidence in the industry. The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami consented to […]
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The Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala-Usman, has stated that the authority will continue to work with the federal government to improve facilities at the nation’s seaports in order to attract more goods and services to the country. Nigerian ports, she stated, are a major gateway into the country with over […]
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The Nigeria Customs Service (NCS) has announced that it has commenced the distribution of seized smuggled rice, vegetable oil to orphanage homes in Lagos. This was disclosed by the National Public Relation Officer of the service, Joseph Attah, in a chat with journalists in Lagos. Attah said since peace has returned to the north-eastern part […]
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The Federal Government, at the weekend, said that 17 per cent progress was achieved in the ongoing construction work at the second Niger Bridge designed to link Delta and Anambra states. This was even as the Minister of State for Power, Works and Housing, Mustapha Baba Shehuri, assured Nigerians that the government would continue to […]
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Over eight million Naira worth of substandard products have been destroyed by the Standards Organisation of Nigeria (SON) at Yankatsari Yangongon in Kano, in its ongoing efforts aimed at stopping trade in substandard goods in Nigeria. The details of the substandard and life-endangering products include, 83 bags of 25kg expired foreign rice, 257 bags of […]
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EVEREST AMAEFULE reports that in 39 months, the country spent a total of ₦5.468 trillion on servicing domestic debt and foreign debt as experts claim that the cost of debt servicing is crowding out public debt expenses Servicing of domestic and foreign debt gulped a total of ₦5.468 trillion between July 2015 and September 2018, […]
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A full-time member of the faculty at the Lagos Business School and former member of the Central Bank of Nigeria’s Monetary Policy Committee, Dr Doyin Salami, has described Nigeria as an oil-dependent country and not an oil-rich country. He said this while speaking on ‘Charting 2019: The economic outlook’, at the Business Breakfast meeting organised […]
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The Federal Inland Revenue Service is to dispose of the properties of 52 companies over tax debts valued at about ₦3.4 billion. Investigations by our correspondent in Abuja showed that already, the Legal Department of the Service had begun the process to sell the properties in a bid to effectively implement the initiative. It was […]
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Nigeria recorded significant increase in capital importation via foreign portfolio investors (FPI) in the investors’ and exporters’ forex window (I&E window) in January 2019, the FSDH Merchant Bank Limited has revealed. In fact, FPI contribution in January stood at US$1.32 billion in January, accounting for 51.34 per cent of total inflows, the highest contribution since […]
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