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NIMASA Shuts Three Jetties Over Safety Breaches

The Nigerian Maritime Administration and Safety Agency (NIMASA), has shut three private jetties and port facilities, alleging safety breaches. Head, Corporate Communications of the apex maritime regulatory agency, Hajia Lami Tumaka, said the action was in pursuant to NIMASA’s mandate as the Designated Authority (DA) for the implementation of the ...

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Senior Female Customs Officer Abducted In Lagos

Few days away from Christmas, kidnappers again struck in Lagos with the abduction of a top ranking female customs officer, Mrs. Betty Kolo. Kolo, a Chief Superintendent of Customs, was abducted by unknown men Tuesday night at about 8pm in Festac Lagos. Although details of her abduction remain sketchy as ...

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CBN To Eliminate Forex Black Market

The Central Bank of Nigeria (CBN) is set to eliminate the foreign exchange black market in Africa’s biggest economy, the Minister of Finance, Mrs. Kemi Adeosun, said Tuesday. The naira trades, sometimes 40 per cent below the official rates, against the dollar. Commenting on the wide gap, Adeosun said the ...

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Arik Operations To Be Shut Down From Tuesday By Workers Strike

Three unions in the aviation sector, National Union of Air Transport Employees (NUATE) , Air Transport Senior Staff Services Association of Nigeria (ATSSSAN) and the National Association of Aircraft Pilots and Engineers (NAAPE have issued a notice directing all their members to commence joint strike at Arik Air, with effect ...

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Court Awards N10bn Against Mobil for Bayelsa Oil Spillage

A Federal High Court in Lagos has ordered Mobil Producing Nigeria Limited to pay N10bn to victims of a January 12, 1998 oil spillage which occurred when a 24 inches pipeline belonging to the company burst, releasing its content into the marine environment. About 40,000 barrels of Qua Iboe light ...

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FG Not Responsible For Economic Recession- Udo udoma

The federal government says it is not responsible for the current economic situation of the country. Udoma Udo Udoma, minister of budget and national planning, said this on Thursday, describing the government of President Muhammadu Buhari as a rescue team. Udoma spoke after the national economic council (NEC) meeting which ...

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Inflation Hits 18.48%, A 11 Year High

The Consumer Price Index, which measures inflation rate or hike in prices in the Nigerian economy, has hit an all-year high, which also represents an 11-year high. The rise in inflation rate was however at its slowest pace in 2016, rising by less than a quarter of a percentage point. ...

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Dollar Rises Over Planned Interest Rate Hike

The dollar surged against its peers Thursday and most Asian markets tumbled after the Federal Reserve indicated it will likely embark on a steeper path of interest rate hikes over the next year. Investors were sent scurrying on the prospect of tighter borrowing costs as the Federal Reserve positions itself ...

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FG Bans Importation Of Vehicles Through Land borders

The Federal government has announced a blanket ban on all the importation of all category of vehicles into the country through the land borders. The prohibition order covers both new and used vehicles. A statement issued by the Nigeria Customs Service (NCS) Public Relations Officer, Mr Wale Adeniyi on Monday ...

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Recession: Dangote Sacks 36 Expatriates, 12 Nigerians

The current recession rocking the Nigerian economy has hit one of the biggest employers of labour in the country outside of the government as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 members of staff. Our correspondents gathered that those sacked were made up of ...

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