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 Adenityi…
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…
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 Settlement System (NIBSS). According to…
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 vehicles is not rocket…
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 not comfortable with…
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…
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 contribution to the GDP. The Commissioner for Insurance, Fola Daniel…
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 firms should be prepared…
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 Abdullahi,…
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 their vital…
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…
AMCON threatens to publish list of loan defaulters
The Asset Management Corporation of Nigeria (AMCON) has advised loan defaulters to immediately pay up their debts or it would publish their names in line with a directive by the Central Bank of Nigeria (CBN). In a statement, AMCON warned…
PENGASSAN seeks payment of cash call areas on JV funding
THE Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to put machinery in place for the payment of cash call in the Nigerian National Petroleum Corporation (NNPC) Joint Venture (JV) operations with…
Jauro resumes as NIMASA acting DG
Mr. Haruna Baba Jauro has formally taken over from Barrister Calistus Nwabueze Obi as the Acting Director General/Chief Executive Officer of the Nigerian Maritime Administration and Safety Agency (NIMASA). The handover ceremony took place in the Agency on Monday 27th…