Author: Saint Augustine

Fidelity Bank Plc (“Fidelity Bank” or the “Bank”) has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer”). The Combined Offer is a part of the Bank’s strategy to increase its share capital base in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (“CBN”) on 28 March, 2024. Overall, the Bank expects that the capital raised would support the Bank’s efforts to drive…

Africa Association of Professional Freight Forwarders and Logistics of Nigeria, APFFLON has vehemently criticized the Nigeria Labour Congress, NLC and Trade Union Congress, TUC for not considering small business owners and Nigerians who are not in the Federal Government employ before taking drastic actions. The NLC and TUC called off a nationwide industrial action Tuesday afternoon having sat at the negotiation table with the Federal Government for days over demand for improved Minimum wage for Nigerian Workers and request for a downward review of electricity tariff. The labour unions, on 3rd of June, embarked on an indefinite strike to drive…

…We will review and sign an improved MoU with the Nigerian Navy – NIMASA DG The Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla, yesterday paid a working visit to Nigerian Maritime Administration and Safety Agency, NIMASA in continuation of efforts to deepen the cooperation between the Nigerian Navy and the Agency to achieve sustainable security in the Nigerian maritime domain. Speaking during the visit, Vice Admiral Ogalla acknowledged efforts of the Agency in implementing both national and international regulatory instruments to improve safety and security in the maritime domain, adding that the Nigerian Navy under his leadership is…

…Intercepts 505 bags of rice worth N59 million The Western Marine Command of the Nigeria Customs Service, NCS, yesterday handed over 17 sacks containing 1,257 loaves of cannabis sativa otherwise known as Marijuana worth over N96 million to the officials of the National Drug Law Enforcement Agency, NDLEA. The Customs Area Controller of the command, Comptroller Paul Bamisaiye who performed the hand over at the Western Marine Command headquarters in Lagos, also conducted journalists round the 505 bags of 50kg parboiled rice worth N59 million intercepted by the command within the period under review. Giving details of the seizures, Comptroller…

…Customs applauds her compliance to trade regulations …Princess is a model for women in freight forwarding – Aniebonam Maritime industry stakeholders, friends and family turned out in style to celebrate the golden jubilee of Hon. Princess Chi Ezeh with loads of encomiums even as the Nigeria Customs Service, NCS outlined her penchant for compliant trade. The celebratory dinner, which held at Oriental hotel in Lagos, on Sunday was graciously moderated by one of Nollywood’s finest actors, Mr. Segun Arinze, while the participating guests included a fine blend of royalty, maritime bigwigs, Customs topshots, importers, freight forwarders, among others. Speaking at…

Chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji, in this interview reviews the praises being lavished on the agency for growing tax revenue, saying the commendation should be specially reserved for President Bola Tinubu who has set the right economic parameters in place for the agency to succeed. He also shares insights into the reforms carried out at the agency under his leadership, the new customer-focused approach to tax administration, among others. Excerpts: You are saddled with mobilising domestic revenue to oil the engine of the economy. How did you imagine it was going to be when you…

… Information sharing is key to securing nation’s maritime space – NIMASA DG Minister of State, Defence, Hon. Bello Matawalle has declared Federal Government’s commitment to integrating the operations of the Command Control Computer Communication Information System of the Nigerian Maritime Administration and Safety Agency, NIMASA and the surveillance facility of the Nigerian Navy known as the Falcon eye system for the security of the Nigerian maritime space to engender economic prosperity. Matawalle who stated this shortly after a working visit to the NIMASA C4i center in Kirikiri on weekend to inspect the operational model of the facility said that …

…Canvasses for one single document for cargo clearing As Nigeria gradually moves to meet the 2025 target set by the International Maritime Organization, IMO for nations to attain the Port Community System, the Nigeria Customs Service, NCS has called for the harmonization of laws of the various government agencies involved in cargo clearing at the nation’s seaports so as to avoid duplication of laws and processes. The Comptroller General of Customs, Mr. Bashir Adewale Adeniyi who made this call in his presentation at an event in Lagos on Thursday with the theme, “The Imperative Of PCS For Integration Of All…

In Nigeria, a young tech-savvy and upwardly mobile population is teeming, and exploring derivable benefits of digital technologies. They are propelled by rapidly expanding internet access and steady broadband penetration, currently about 43 per cent. Our digital economy is poised for significant growth, positively impacting various sectors and benefiting the nation through enhanced connectivity and digital skills. Digital transformation is happening globally at a record pace. During the Covid-19 pandemic, for example, remote work and virtual collaboration tools took centre stage; platforms such as Zoom, Microsoft Teams, and Google Meet became—and still are—essential for meetings, conferences and team collaboration. E-commerce…

The New Nigeria People’s Party, NNPP, on Thursday said that Nigeria was already bleeding before the emergence of President Bola Tinubu. Appraising Tinubu’s administration in the last one year, Founder of the party, Dr. Boniface Aniebonam said the President was aware of the crisis in the country before coming into power. Aniebonam in a statement, pointed out that it was in recognition of the challenges the nation have that made the President to come up with the Renewed Hope Agenda to tackle the challenges headlong. “The belief of members of the NNPP stand to reason that a great leader is…