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Shippers’ Council Wants More Powers to Regulate Ports Industry

Basking in the euphoria of its recent affirmation by the Federal government as the preferred economic regulatory agency in the maritime sector, the Nigerian Shippers’ Council (NSC) has expressed the need for more powers for it to adequately perform the expected role. Executive Secretary of Council (NSC), Mr. Hassan Bello, …

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Lagos Traffic Gridlock: Amaechi Calls For More Use Of Waterways

Minister of Transportation, Rotimi Chibuike Amaechi, has called on Lagosians to embrace more use of the waterways transportation system, in order to stem the perennial traffic gridlock in the state. The Minister made the call Tuesday at the first Lagos Traffic Radio Lecture Series with the theme “Migrating Workforce: The …

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Skye Bank Ignores FG’s order, fires 200 staff

Despite the embargo which the federal government placed on dismissal of staff in the banking sector, Skye Bank Plc fired at least 200 staff on Monday. Citing petitions and complaints, Chris Ngige, minister of labour and employment, asked the banks to suspend retrenchment pending a stakeholders meeting on July 2. …

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Domestic Airlines May Raise Fares

Domestic airlines in the country may increase the fares payable on air ticket following the recent hike in the price of aviation fuel, popularly known as Jet-A1. According to them, a circular informing them of the increase in the price of aviation fuel from N115 per litre to N150 was …

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IATA: Airlines May Boycott Nigeria, Other Countries with Trapped Funds

The International Air Transport Association (IATA) yesterday hinted that foreign airlines may withdraw services in Nigeria and other countries where their revenues were trapped unless they urgently release the trapped money put at about $5.1 billion. Outgoing Director General and CEO of IATA, Tony Tyler has therefore called on the …

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Buhari Affirms Shippers’ Council As Ports Economic Regulator

Lingering agitations to have government upturn the position of the Nigeria Shippers’ Council (NSC), as the stakeholders’ preferred economic regulator for the nation’s seaports may have again hit the rocks. President Muhammadu Buhari, during the week may have tacitly approved the position of the agency as he directed the Council …

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Ecobank Nigeria Fires 1,040 Workers

The gale of job losses being witnessed in the country due to the current economic hardship has caught up with Ecobank Nigeria, which has sacked over 1,040 of its employees. The PUNCH reported on Tuesday that Diamond Bank Plc sacked over 200 members of its workforce, while FBN Holdings, the …

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FG To Establish National Shipping Line – Amaechi

Minister of Transportation, Mr. Rotimi Amaechi, says the Federal Government is working on  the establishment of a national shipping line to ensure the maximum exploitation of the potential of the maritime industry. The minister said this in a keynote address he delivered at the 14th Maritime Seminar for Judges organised …

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Stock Market Lost N1.732tn In One Year Under Buhari

The Nigerian stock market crashed by N1.732tn within one year of the Muhammadu Buhari-led Federal Government. The Nigerian Stock Exchange data showed that the NSE market capitalisation on May 28, 2015 was N11.658tn, while that of May 27, 2016 was N9.926tn. Market capitalisation is the total market value of the …

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CBN To Introduce Flexible Exchange Rate Policy

To stave off recession in the economy, the Central Bank of Nigeria (CBN) is to adopt a flexible exchange rate policy. This, the Monetary Policy Committee (MPC) yesterday said, is to restore the automatic adjustments properties of the exchange rate. Addressing journalists at the end of the bi-monthly MPC meeting …

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