Business

By OUR CORRESPONDENT The Comptroller – General, Nigeria Customs Service, Colonel Hameed Ali, rtd, Wednesday, noted that bad governance, which culminated in the underdevelopment of border communities was fuelling smuggling in Nigeria. He said most of the communities lack basic infrastructure, including roads, hospitals, electricity and pipe-borne water, thus cutting the areas, where smuggling remains […]

By Eyo Nsima The Lagos Chamber of Commerce, LCCI, has reacted as the The National Bureau of Statistics, NBS, releases Nigeria’s Gross Domestic Produt, GDP, report for the second quarter of 2021. Commenting on the GDP report, the LCCI, stated: “The National Bureau of Statistics has released the national accounts for Q2 2021 showing that

The Economic and Financial Crimes Commission, EFCC, has urged the banks to investigate their customers’ sources of income. Addressing members of the Association of Chief Audit Executives of Banks in Nigeria, ACAEBIN, who visited him in Abuja, Abdulrasheed Bawa, EFCC chairman, said: “I will like to urge you to know your customers, know the kind

The Department of Petroleum Resources has faulted the claim by the Nigeria Customs Service that it was partly responsible for the continued smuggling of Premium Motor Spirit popularly called petrol, which has been subsidized by the Federal Government. The Head, Downstream Department, DPR, Bashir Sodiq, said filling stations along the land borders now get less

CBN introduces guidelines for Payments Service Holdcos By Eyo Nsima The Central Bank of Nigeria, CBN, has introduced guidelines for the regulation of Payments Service Holding Companies, PSHCs, in the nation. The guidelines, stated: “The regulation requires companies desirous of operating more than one license category, to set up a PSHC, with activities of subsidiaries