BUSINESS

Sun International closes shop in Nigeria over economic recession.

August 23, 2016

Sun International,a South African hotel and gaming group and operators of the Federal Palace Hotel, Lagos, has disclosed that it would exit Nigeria due to weak economic growth and clashes with regulators. The company, which has significant investment in Tourist Company of Nigeria, TCN, was in January, subjected to a probe by the Economic and […]

Read More

FG soon to push N60bn to economy to boost capital projects…. Finance Minister.

August 20, 2016

Finance Minister,Mrs Kemi Adeosun  The Federal Government on Friday said it would release additional N60bn within the next few days for the implementation of capital projects captured in the 2016 budget. The Minister of Finance, Mrs. Kemi Adeosun, stated this during an interactive session with journalists in Abuja. The minister said the N60bn would be […]

Read More

Nigeria Customs Service (NCS) collected N385.7 billion revenue between January to June 2016,”… spokesman.

August 15, 2016

The Nigeria Customs Service (NCS)has a that it generated N385.7 billion revenue from January to June this year. This awas against the N438.2 billion generated in the same period in 2015. The NCS Public Relations Officer, Mr Wale Adeniyi, disclosed this on Monday in Abuja. Giving a breakdown of the money collected, he stated that […]

Read More

Seme Customs operating at 30 per cent capacity,…Dimka.

June 14, 2016

The Seme Border Customs Command of the Nigeria Customs Service, (NCS) said it is currently operating at 30 percent capacity due to dilapidated infrastructure and unwholesome practices. Customs Area Comptroller, (CAC,) of the command, Victor Dimka made the disclosure to members of the House of Representatives Committee on Customs who visited the command. He lamented […]

Read More

NCS,Seme command makes over N3bn revenue, arrests 17 suspects in first quarter 2016.

June 3, 2016

The Nigeria Customs Service (NCS), Seme Area Command has said that it collected a total of N3, 265,335,939.89 (Three billion, two hundred and sixty-five million, three hundred and thirty-five thousand, nine hundred and thirty-nine naira, eighty-nine kobo) for the period between January and April, 2016. According to the Command’s Public Relations Officer (PRO), Mr. Selechang […]

Read More

Customs,Seme command seizes 2,131 bags of rice worth N23m

May 26, 2016

The Seme Area Command of the Nigeria Customs Service says it intercepted 2,131 bags of rice loaded in 12 trucks with a duty paid value of N23.9million. Area Controller of the command, Victor Dimka told newsmen in Seme that the seizures which were made at Ere creeks, a border town between Lagos and Ogun was […]

Read More

Coca-Cola picks 40% shares in Chi Ltd.

January 30, 2016

Coca-Cola has announced that it has bought a 40 percent stake in Nigerian juice and snack producer Chi Ltd, as part of its efforts to continue to expand in Africa to tap a young and fast-growing population. The United States drinks giant bought the stake from unlisted TGI Group, the two companies said in a […]

Read More

Fuel Scarcity looms as oil Marketers threaten to stop importation.

April 25, 2015

Indications are rife that Nigerians  especially motorists may soon face another round of hard times if government does not act fast as the Major Oil Marketers Association of Nigeria (MOMAN) has threatened to stop the importation of petroleum products over yet-to-be-paid N256 billion subsidy claim by the Federal Government. The Executive Secretary of MOMAN, Mr […]

Read More