ISPS Code: Nimasa Begins Clampdown on Terminals, Jetties ISPS Code: Nimasa Begins  Clampdown on Terminals, Jetties

ISPS Code: Nimasa Begins Clampdown on Terminals, Jetties

Stories by George Umunnakwe   The Nigerian Maritime Adminisrtation and Safety Agency (Nimasa) has commenced massive clampdown on port and terminal facilities that fall short of the International Ships and Port facility Code popularly known as ISPS Code.   The Akpobolokemi Zaikede Patrick led agency assumed the status of Designated Authourity (DA) for its implementation [...]

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Customs Agents Name New National Secretariat After Dikko Customs Agents  Name New National  Secretariat After  Dikko

Customs Agents Name New National Secretariat After Dikko

  Stories by George Umunnakwe The Association of Nigeria Licensed Customs Agents (ANLCA) last weekend officially commissioned its national secretariat even as the association also named the new building after the Comptroller General of the Nigeria Customs Service, Alhaji Dikko Inde Abdullahi.   The new secretariat is called ‘Inde Dikko House’. Speaking at the 60th [...]

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FG To Introduce New Guidelines For Boat Operators FG To Introduce New Guidelines For Boat Operators

FG To Introduce New Guidelines For Boat Operators

  Stories by George Umunnakwe Fresh facts have emerged about  directives by the Federal Government to introduce new safety measures for boat operators in the inland water transport business in Nigeria.   Shipping Position Daily confirmed that the directive by government will commence in 2015, even as a large number of operators have also keyed [...]

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NPA to Pay N6.3bn into Govt Coffer NPA to Pay N6.3bn into Govt Coffer

NPA to Pay N6.3bn into Govt Coffer

Stories by George Umunnakwe The acting Chairman of Fiscal Responsibility Commission (FRC); Mr Victor Muruako has disclosed that  the Nigerian Ports Authority (NPA) is owing the federation N6.3 billion as operating surplus for years 2007 and 2008.   Muruako made the disclosure yesterday in Abuja at a roundtable with the management staff of the NPA [...]

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News

Reforms: FG Forwards Eight Critical Bills to National Assembly

Reforms: FG Forwards Eight Critical  Bills to National Assembly

From Ben-Bright Mkpuma, Abuja   There are strong indications that the presidency will soon send the eight critical reform bills to the National Assembly for passage into law.  These bills, according to the Bureau of Public Enterprises (BPE), will abrogate monopoly laws, liberate the sectors, separate the roles of policy formulation from regulation and the [...]

Sep 15, 2014 7:08

IT

Ericsson’s Approach to Enhance Data Utilisation Amidst Opportunities, Challenges

Ericsson’s Approach to Enhance Data  Utilisation Amidst Opportunities, Challenges

Story by Lawson Ovih   In today’s mobile workplace, the tenfold growth of mobile data traffic by 2019, increasing enterprise adoption of Network-as-a-Service models, and new device-to-device and machine-to-machine (M2M) applications, present both opportunities and challenges for mobile operators.   To ensure their consumer and business customers grow in mobile enterprise and expand into new [...]

Sep 15, 2014 9:03

Money World

Market Closes Week On Declining Trend As Sell Pressures Thickens

Market Closes Week On  Declining Trend As Sell  Pressures Thickens

BONNY AMADI   Against the backdrop of wining trades by the Industrial goods sector of the Nigerian stock Exchange (NSE), capital market performance indices for the week ended Friday September 12, 2014 closed negative.   The NSE All-Share Index and Market Capitalization depreciated during the week by 1.18 per cent to close on Friday at [...]

Sep 15, 2014 10:10

Economy

Curbing Poverty Level and Youth Unemployment

Curbing Poverty Level and  Youth Unemployment

Stories by Onyewuchi Ojinnaka   Despite the nation’s rapid growth in economy, the disparity between the rich and the poor continues to get wider and the country’s poverty level soars up rather than reducing, even with the setting up of Committee for Rural Development Strategies and Poverty Alleviation programmes. The youths continue to roam the [...]

Sep 15, 2014 11:46

Recent Articles

Nigeria, Egypt , Ethiopia Offer Best African Retail Opportunities

Nigeria, Egypt , Ethiopia Offer Best African Retail Opportunities

By Niyi Jacobs   Rand Merchant Bank has said Nigeria, Egypt and Ethiopia offer some of the best opportunities for retailers looking to invest in Africa.   The Johannesburg-based investment banking unit of FirstRand Ltd, which released a report  to clients last week,  noted that the Democratic Republic of Congo and Libya rank fourth and [...]

MPC May Increase CRR to 18%

MPC May Increase CRR to 18%

Mr. Bismarck Rewane Managing Director/Chief Executive Officer, Financial Derivatives Company Limited (FDC) has predicted that the Monetary Policy Committee (MPC) may increase the cash reserve requirement (CRR) from 15 per cent to 18 per cent.   He maintained that as the inflation rate rose in the fifth consecutive month in July thereby posing a threat [...]

‘Customers Withdraw N168bn From Other Banks’ ATM Monthly’

‘Customers Withdraw  N168bn From Other  Banks’ ATM Monthly’

The data compiled by the Committee of E-Banking Heads (CEBIH) have shown that the amount of cash bank customers withdrawn from other banks’ Automated Teller Machines(ATM) on monthly basis rose from N91bn in January 2013 to N168bn in December 2013.   The figure represented a 172 per cent increase over a period of one year. [...]

Nnewi Manufacturers Laud Diamond Bank for Industrial Development Support

Nnewi Manufacturers Laud  Diamond Bank for Industrial  Development Support

Manufacturers in Nnewi, Anambra State of south eastern Nigeria, have lauded Diamond Bank Plc for its continued support to manufacturers and for the strong commitment in promoting industrial growth and development in the country.   Popularly known as the “Japan of Africa,” Nnewi is a reputed industrial hub and boasts the presence of many indigenous [...]

LeapFrog to Support Nigeria Financial Sector

LeapFrog to Support  Nigeria Financial Sector

LeapFrog, a Global investment firm, says it is investing N16bn ($100m) in Nigeria’s growing financial services sector.   The amount will be taken from an N65bn ($400m) new fund recently raised by the company. The N65bn is expected to be invested in high growth businesses in Africa and Asia.   According to a statement by [...]

Diamond Bank Flagship Branch Debuts

Diamond Bank Flagship Branch Debuts

By Niyi Jacobs Diamond Bank Plc has opened a multi-purpose banking center at Ajose Adeogun Street, Victoria Island, Lagos for its numerous customers. BusinessWorld Intelligence notes that  the ultra-modern branch, a four-storey complex, is structured to deliver twenty-four-seven full banking services to customers, and is fitted with world-class facilities like e-centre for electronic financial transactions, [...]

NDIC Advises Ecobank on Operational Independence of Subsidiaries

NDIC Advises  Ecobank on  Operational  Independence of   Subsidiaries

By Niyi Jacobs   The Nigeria Deposit Insurance Corporation (NDIC) has enjoined Ecobank Transnational Incorporated (ETI Group) to ensure operational independence of its Nigerian entity in order to benefit fully and consolidate on the gains achieved from the on-going restructuring of the bank.   Alh.Umaru Ibrahim, Managing Director/Chief Executive, NDIC, gave the advice when Mr. [...]

EY to Target Unemployment at AAT

EY to Target Unemployment at AAT

Ernst & Young, a global research firm, has said its forthcoming 11th Annual Africa Tax (Art) Conference will focus on youth unemployment and tax related problems.   According to a statement by the business advisory firm, the theme of the conference will be around ‘Building a better working world in Africa.’   The statement read, [...]

FirstRand Seeks African Banking Expansion with $924m

FirstRand Seeks African Banking  Expansion with $924m

By Niyi Jacobs with Agency Report   FirstRand Limited is setting aside 10 billion rand ($924 million) for expansion across the continent of Africa; this is as profit increases from regions outside its home market of South Africa.   “We’ve got a provisional license in Ghana and should be up and running there in early [...]

World Bank Partners Ibadan Business School on Capacity Building

World Bank Partners  Ibadan Business School  on Capacity Building

The World Bank has partnered with Ibadan Business School to boost the public sector and respond to capacity-building to strengthen requirements of micro, small and medium enterprises in Nigeria. This was disclosed by Professor Oladapo Afolabi, Chairman of Ibadan Business School, during a press conference held at the Airport Hotel, Lagos recently.   Afolabi said: [...]

DMBs Maintain Lending Culture amidst High CRR

DMBs Maintain Lending  Culture amidst High CRR

The recent data obtained from the website of the Central Bank of Nigeria CBN, has shown that the lending in Nigeria to private sector has climbed toN17.25trn in July 2014, from N15.79 a year ago.   Despite the increase in cash reserve ratio, CRR, on private deposit to 15 per cent in March, banks lending [...]

Feared Natural Gas Rally Short-Circuited by Cool Summer

Feared Natural Gas Rally Short-Circuited by Cool Summer

Rig hands thread together drilling pipe at a hydraulic fracturing site owned by EQT Corp., atop the Marcellus shale rock formation in Washington Township, Pennsylvania.   According to Bloomberg, rig hands thread together drilling pipe at a hydraulic fracturing site owned by EQT Corp., atop the Marcellus shale rock formation in Washington Township, Pennsylvania.   [...]