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Confusion at ports as FG increases import tariff

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There was confusion at the Lagos ports on Wednesday as importers and clearing agents had difficulties clearing their goods following the implementation of the Economic Community of West African States’ Common External Tariff. All the 16 members of the ECOWAS, including Nigeria, had agreed to introduce a uniform import tariff, ...

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NNPC Investigates Vandalised Pipeline

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The Nigerian National Petroleum Corporation (NNPC) said it has launched full scale investigation into its vandalised Ije Ododo pipeline. LEADERSHIP learnt that suspected vandals had at about 11.15pm Monday night severed a petroleum pipeline at the Ije Ododo pipeline forcing the NNPC to shut down the facility. Responding to LEADERSHIP’s ...

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Customs Destroys N4m Worth Of Smuggled Poultry Products

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The Seme Command of the Nigeria Customs Service (NCS) yesterday buried 650 cartons of frozen chicken and turkey imports valued at N4 million smuggled into Nigeria from Cotonou, the Republic of Benin. Shortly after the destruction of the poultry products at the command’s headquarters in Seme, a border town with ...

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CBN slightly adjusts naira-dollar foreign exchange rate

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The Central Bank of Nigeria on Thursday made a slight adjustment to its naira-dollar exchange rate peg, data on its website showed. The bank adjusted the rate at which it sold the United States dollar from N197 to N196.95, Reuters reports. Prior to Thursday’s action, the rate had been oscillating ...

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NIGERIA: CBN Plans To Expose All Bank Debtors On Newspapers

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Nigeria’s Apex Bank (CBN) is planning on publishing the names of bank debtors along with those of their bank of directors in newspapers in order to reduce the rate of Non Performing loans. Speaking during the 321st Bankers Committee meeting last week in Lagos, the Director of Banking Supervision of ...

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