City BusinessNews, Author at City Business News

August 2, 2015 No Responses

Fatter ships underway

EXPERTS expect more wide-beam 14,000- to 15,000-TEU (Twenty foot equivalent) ships with 21-deck rows and 53.5 metre beams. According to Alphaliner, the wider-beam ships are coming given the popularity of wide-beamed 8,500 – 10,000-TEUers. How carriers propose to fill these...

August 1, 2015 No Responses

ECOWAS Bank renews president tenure

The Board of Governors of the Economic Community of West Africa (ECOWAS) Bank for Investment and Development (EBID) which comprises Finance Ministers from the 15-Member States of ECOWAS has renewed the tenure of the President of the Bank, Mr. Bashir...

August 1, 2015 No Responses

Buhari renews appointment of MAN Rector

President Muhammadu Buhari on has renewed the appointment of Joshua Okpo as the Rector of the Maritime Academy of Nigeria (MAN) Oron for a second and final term of four years, according to a statement by the Special Adviser to...

August 1, 2015 No Responses

Customs reviews plan to shut down Intercontinental Hotel

THE National Headquarters of Nigerian Customs Service (NCS) has reviewed its earlier plans to shut down Intercontinental Hotel over alleged default in the payment of duty on imported rice. A statement sent to Citybusinessnews by Public Relation Officer, Wale A...

July 31, 2015 No Responses

NCAA gives debtor airlines two weeks ultimatum

THE management of Nigerian Civil Aviation Authority (NCAA) has threatened to publish names and amount being owed by each airline operating in the country within 14 days. NCAA explained that the airlines had refused to remit the 14if the carriers...

July 31, 2015 No Responses

SEC pledges to tackle unclaimed dividend with e-payment platform

THE Securities and Exchange Commission (SEC) has unveiled e-dividend payment platform. Director-General of SEC, Mounir Gwarzo, explained that the platform was initiated in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settleme...

July 30, 2015 No Responses

NAC faults report on auto policy

THE National Automotive Council (NAC) has described Citybusiness story titled “Govt probes auto policy” as “unfair to the automotive industry.” Reacting to the story onbehalf of NAC, Director Policy and Planing, Luqman Mamudu said Assembling of vehic...

July 30, 2015 No Responses

Tension over review of port concession agreements

TENSION has enveloped the maritime sector over plans by the Federal Government to commence review of the concession agreement it entered with private terminal operators Investigation conducted by City Businessnews revealed that all the terminal operators are...

July 30, 2015 No Responses

Banks confisticates states’ bailout funds

The Governor of Zamfara State, Abdualziz Yari, has said the $2.1 billion dividend paid into the Federation Account by the Nigeria Liquefied Natural Gas Company (NLNG), which the Federal Government used to bail out debtor- states, were seized by some banks...

July 29, 2015 No Responses

NAICOM tasks insurers on GDP

(Naicom’s Commissioner for Insurance, Fola Daniel) The National Insurance Commission (NAICOM) has challenged the nation’s insurance industry to draw action strategies to strengthen ongoing governmental Efforts at increasing insurance industry’s contribut...

July 29, 2015 No Responses

Govt. probes auto policy

THE Federal Government through the Nigeria Customs Service (NCS) has commenced a detailed investigation on implementation of Nigeria’s automotive policy. The Public Relation Officer of NCS, Wale Adeniyi who revealed the development in Lagos said relevant fir...

July 28, 2015 No Responses

Customs shut down Stallion, over N23.6billion debt

The Nigeria Customs Service (NCS) today in Lagos shut down the premises of Stallion/Popular Foods, Masco Agro, Ebony Agro and Conti Agro over alleged N23.6 Billion debt. Represented by Public Relation Officer, the Comptroller General of NCS, Dikko Inde Abdulla...

July 28, 2015 No Responses

Eastern ports relevant to national development, say NPA MD

THE Managing Director of Nigerian Ports Authority (NPA), Alhaji Sanusi Lamido Ado Bayero has reiterated that the Eastern Ports remain relevant in future maritime development in the country. He therefore implored stakeholders in the Eastern Ports to realise t...

July 28, 2015 No Responses

FBN Money Market Fund retains ‘Aa (f)’ rating

The FBN Money Market Fund managed by FBN Capital Asset Management has retained its Agusto & Co fund risk rating of ‘Aa(f)’. A statement issued by FBN Capital Limited explained that the rating are considered to have minimal low risk...