Latest Articles
MMIA Customs Command generated N21bn revenue in 2022 – official
Lagos, Jan. 19, 2023 – The Nigeria Customs Service (NCS) in Murtala Muhammed International Airport (MMIA) generated N20.9 billion revenue in 2022. This is an increase over the N19 billion generated in 2021. Juliana Tomo, the Spokesperson for the Command, said in a statement that the revenue figure also represented an improvement of N1,849,747,265.85 when compared to that of the previous year. The statement quoted Mohammed Gidado, the Customs Area Controller (CAC), as saying that the revenue improvement was made possible due to an improved integrity of passengers in the …
CBN has waved conditions for accessing new notes – Emefiele
Lagos, Jan. 19, 2023 – Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), says the apex bank has waived some of the conditions for accessing the new bank notes by commercial banks. He said this at a sensitisation tour on the redesigned naira notes at Computer Village, Ikeja in Lagos. Emefiele was represented by CBN Director of Legal Services Department, Mr Kofo Salam-Alada, He said that, before now, commercial banks were given slots, but the CBN had bended over backwards to accommodate the banks’ demands. Emefiele said that the …
Global unemployment to rise by 5.8% in 2023 – ILO
Lagos, Jan. 19, 2022 – The International Labour Organisation (ILO) says global unemployment rate will rise by 5.8 per cent in 2023. A new report by ILO on ‘World Employment and Social Outlook: Trends 2023 (WESO Trends) published on its website, reported this. It also projected that global employment growth would be only 1.0 per cent in 2023 which will be less than half the level in 2022. ILO said that the moderate size of this projected increase would largely be due to tight labour supply in high-income countries. “This …
NDLEA seized N500b worth of drugs, properties in 2 years – Marwa
Abuja, Jan. 19, 2023 – The National Drug Law Enforcement Agency (NDLEA) seized N500 billion worth of drugs and assets from drug barons in the last two years. Its Chief Executive, Brig.-Gen. Mohamed Marwa (retd.), said this in Abuja on the second anniversary of his appointment. He was appointed into the office in January 2021. The NDLEA boss said an officer of the agency was killed last week in Sokoto State in the line of duty. He warned that unrepentant drug barons and cartels would face tougher times in 2023 …
FG to stop petrol subsidy in June – minister
Davos, Jan, 18, 2023 – Zainab Ahmed, the Minister of Finance, says the federal government may stop petrol subsidy in June. She said it would be more appropriate for the government to begin the removal of fuel subsidy in the second quarter of 2023. Ahmed said this while speaking on an interview with Arise TV at the ongoing World Economic Forum (WEF) in Davos, Switzerland. The minister said the country needed to exit the fuel subsidy regime since it had become a very significant contributory factor to revenue loss. “You …
Premier Hotel, Ibadan, to be upgraded to five-star hotel
Ibadan, Jan. 18, 2023 – The Odu’a Investment Company Limited says it has entered into a joint venture agreement with another firm to turn Premier Hotel in Ibadan to a five-star hotel. Mr Victor Ayetoro, Head, Branding and Communication in Odua Investment Company, said this in a statement on Wednesday in Ibadan. He said that the Premier Hotel would be shut down immediately “in order to have a safe environment for the commencement, execution, and timely completion of the project”. According to him, the joint venture agreement is with a …
Ondo extends maternity leave
Akure, Jan 18, 2023 – The Ondo State Government on Wednesday extended the maternity leave period for its female workers from the earlier three months to six months. The state government said the move was to build a society where children that were being raised had all things required in terms of maternal care which should be exclusive in the first six months. Pastor Kayode Ogundele, the Head of Service, said this while receiving members of the Federation of Women Lawyers, Ondo State Chapter, in his office in Akure, the …
Africa50 invests in Scanning Systems to boost regional trade
Casablanca/Abidjan, Jan. 18, 2023 – Africa50, the pan-African infrastructure investment platform and Tassec Investment Holdings Africa have announced the completion of Africa50’s equity investment in Scanning Systems. Scanning Systems is a company specialised in the design, financing, and implementation of One-Stop Joint Border Posts (JBPs) in Africa. Africa50 said in a statement on Wednesday that the investment would support Scanning Systems to develop JBPs and deliver efficient border management with modern facilities and tools, facilitate transit and increase traffic across the borders of Africa. “This is expected to significantly reduce transit …
MMIA Customs Command seizes N13.8bn worth of hard drugs
Lagos, Jan. 18, 2023 – The Murtala Muhammed Airport Command of the Nigeria Customs Service has said it intercepted hard drugs, and military and police hardware at the cargo section of the airport worth N13.8 billion. Sambo Dangaladima, the Customs Area Controller, told journalists at the command in Ikeja, Lagos, on Tuesday, that 162 cartons of banned tramadol hydrochloride 225 and 250mg, military and police hardware were intercepted at the Skyway Aviation Handling Company. He said the drugs originated from India and Pakistan and were routed through Addis-Ababa, Ethiopia. Dangaladima …
Nigerian can withstand another recession – finance minister
davos, jan. 18, 2023 – Zainab Ahmed, the Minister of Finance Budget and National Planning, says Nigeria can withstand another recession in 2023. Ahmed said this during an interview with Arise Tv at the ongoing World Economic Forum in Davos. She said that the Nigeria’s foreign reserves was enough to trade her obligations if it slipped into recession. The International Monetary Fund (IMF) is projecting that a third of the world will be in another recession in 2023. Ahmed affirmed that the country would withstand the shocks in spite of its …