To avoid a shut down of the nation’s maritime industry operations, the Managing Director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, has intervened in recent faceoff between the Maritime Workers Union of Nigeria (MWUN) and marginal field operators of the oil and gas industry over non-compliance with stevedoring regulations. The NPA boss formally […]
The Central Bank of Nigeria (CBN) has extended the timeline for the issuance of Letters of Credit from 24 hours to five working days as foreign exchange (FX) scarcity continues to constrain business activities nationwide Also, the apex bank extended the timeline for the registration of Form M and NXP from 24 hours to two […]
The Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello- Koko, has refuted the rumour about $1.8 billion allegedly missing from the Authority, describing it as ill-founded and false. According to him, the inability of the NPA to remit substantial part of the amount which is considered irrecoverable is due to faulty concession. Bello- […]
The Nigerian Ports Authority (NPA) has announced that INTELS Nigeria Limited waived $193 million interest on its debt to the company as part of the efforts aimed at resolving the stalemate on the pilotage contract with the Federal Government under the immediate past administration. The authority, in a statement titled “Setting the Record Straight in […]
As part of efforts to fast track efforts to decongest the nation’s seaports currently burdened with excess of overtime cargo, the Comptroller-General of Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, has unveiled a committee on disposal of overtime cargo. The initiative followed a meeting of the NCS with stakeholders on November 6 in Lagos convened […]
The Nigeria Customs Service (NCS) has reported the seizure of 13 trailer loads of foreign parboiled rice and 17 vehicles, among other notable items, worth N1,241,777,700 in October this year. The Service, in a statement published on its official X (formerly Twitter) account on Wednesday, quoted the Acting Comptroller of the Federal Operations Unit Zone […]
President Bola Tinubu has called for improved African countries’ commitment to the development of their nation’s maritime sector through the provision of critical infrastructure and investing in the ports towards facilitating cross-border trade in the continent. The President, who gave this charge on Monday in Lagos while declaring open the 43rd Annual Council Meeting and […]
…..Targets $2Bn Carbon Investments The Niger Delta Development Commission (NDDC) on Tuesday unveiled plans to unlock $2 billion carbon investment in the Niger Delta region using solar power as part of the management’s wider strategy to ensure power supply to communities in the region. The commission’s Managing Director, Dr. Samuel Ogbuku, who was quoted in […]
The Managing Director of the Nigerian Ports Authority (NPA), Muhammad Bello-Koko, has solicited the support of the Acting Comptroller-General of Nigerian Customs Service (NCS), Adewale Adeniyi, to decongest the Lagos ports and enhance trade facilitation in the nation’s seaports. He also canvassed the NCS’ collaboration in its current efforts to upgrade the facilities at the […]
The Nigeria Customs Service, NCS, at Tin-can Island, Lagos, has impounded two containers from India with tramadol and codeine concealment with Duty Paid Value, DPV worth over N550.3 million. The Command also disclosed that two suspected were arrested in connection with the seizure, with the importer offering over $54,330 (N50 million) to be set free […]