Friday, May 27, 2022
Regulation

Regulation

African Regulators Investigate Maersk and CMA CGM for Price Collusion

African Regulators Investigate Maersk and CMA CGM for Price Collusion

The Common Market for Eastern and Southern Africa (COMESA) competition watchdog has joined a growing list of authorities investigating global container lines for collusion in fixing freight rates. After a year in which global carriers reported dramatic increases in...
Customs hand over N3.9bn drones, others to Army, NAFDAC

Customs hand over N3.9bn drones, others to Army, NAFDAC

THE Nigeria Customs Service has handed over a total of N3.88bn worth of contrabands to the Nigerian Army and the National Agency for Food and Drug, Administration and Control. The contrabands, which were handed to the military in Lagos on...
FG inaugurates committee on review of trade policy

FG inaugurates committee on review of trade policy

The Federal Government has inaugurated a committee to review Nigeria’s trade policy. Members of the committee were drawn from the Federal Ministry of Industry, Trade and Investment, the Nigerian Office for Trade Negotiation and the Nigeria Customs Service (NCS). Others...
Power infrastructure: Remove Right of Way barriers, Osinbajo tells governors

Power infrastructure: Remove Right of Way barriers, Osinbajo tells governors

Vice-President Yemi Osinbajo has asked state governors to remove Right of Way barriers in order to fast-track the expansion of power infrastructure and strengthen the national grid. A statement from the Office of the Vice President quoted Osinbajo as...
West African Countries Now Understudying SPOMO Act For Admiralty Matters — NIMASA

West African Countries Now Understudying SPOMO Act For Admiralty Matters — NIMASA

The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, has revealed that following the successes recorded by Nigeria in criminalising piracy and sea crimes through the Suppression of Piracy and Other Maritime Offences (SPOMO)...
Brent rises to $115 as EU considers Russia oil ban

Brent rises to $115 as EU considers Russia oil ban

Brent crude, the global oil benchmark, appreciated in price on Monday, moving up by 7.3 per cent or $7.88 to $115/barrel at 7.54pm Nigerian time as European Union nations considered joining the United States in a Russian oil embargo. Industry...
Sensitize, Create Opportunities For Youths, NDLEA Charges Maritime Stakeholders Against Drug Abuse

DRUG BUST: NDLEA Wants Seaport Terminal Operators To Reexamine Customers

The National Drug Law Enforcement Agency (NDLEA) has advised terminal owners and operators to always re-examine their customers to prevent the proliferation of drug cartels within the seaports. The Commander, Apapa Special Area Command of NDLEA, Mr Ameh Inalegwu, Nacortic...

Negotiations with labour on fuel subsidy removal still ongoing – FG

The Federal Government is still in negotiations with the organised labour as regards the removal of subsidy on Premium Motor Spirit, popularly called petrol, it was gathered on Sunday. Officials of the Nigerian National Petroleum Company Limited and the Nigerian...

E-valuation: Reps give CBN, Customs two-week ultimatum to resolve port crisis

THE House of Representatives’ Joint Committee on Customs and Excise, Banking and Currency has given the Ministry of Finance, Budget, and National Planning; Central Bank of Nigeria; and the Nigeria Customs Service, as well as other relevant stakeholders two...

Customs Bows To Pressure, Suspends VIN Valuation For 30 Days

The management of the Nigeria Customs Service (NCS) has bowed to pressure by suspending the controversial Vehicle Identification Number (VIN) valuation policy that was recently introduced by the service for imported vehicles. The policy which led to impasse between licensed...

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CBN Mandates Banks To Give Out More Loans

A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits. The directive announced...

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