Import
Seven Indians, Nigerians docked for ‘cocaine importation’
The National Drug Law Enforcement Agency on Friday arraigned seven Indians and three Nigerians before the Lagos Division of the Federal High Court for allegedly smuggling 43.1 kilogrammes of cocaine into the country. The Indians include Shedrack Yurama; Singh Vikash; Kunnaserypallam Ashraf Inzam; Xaiver Fernando Santhanaria; Mandal Surjeet Ashok; Tandel Pratikkumar Pravinbai; and Barthwal Rohan Sunil. Their Nigerian alleged accomplices are Tobi Ojo; Kunle Animashaun and Omozusi Enorose Terry. Also arraigned before the court alongside the defendants was a limited liability company, Oilways Logistics and Energy Limited. The defendants were arraigned on a two-count charge of conspiracy and unlawful importation of cocaine. The defendants, according to the charge marked FHC/L/100c/2021, were ar...
NCS: Nigerian government to inaugurates Funtua inland dry port November
The Minister of Transportation, Mr. Chibuike Rotimi Amaechi, will in November inaugurate the ongoing Funtua Inland Dry Port project in Sokoto State. Also the French government has indicated its interest in collaborating with its Nigerian counterpart and therefore hinted that it will assist the government in form of financial assistance to the sector. The Executive Secretary/CEO Nigerian Shipper’s Council (NSC), Mr. Hassan Bello, made this known Thursday in Abuja during a meeting between the Council, Concessionaires for the Inland Dry Ports and the French Embassy. NSC ES, while highlighting the successes so far recorded by the Council stated that the federal government thought it necessary to bring shipping closer to the people by establishing ports in the hinterland. Hassan told the audien...
CBN governor vows to block maize importation
Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele on Thursday vowed to resist importation of maize as Nigerians have the capacity and capability to grow the crop locally to meet consumption demand. On that note, he has urged youths across the country to embrace agriculture, declaring the bank’s readiness to support those ready to venture into it. Emefiele made the declaration in Katsina at the unveiling of the first maize pyramid and flag-off of the 2021 maize wet season farming under the CBN-Maize Association of Nigeria (MAAN) Anchor Borrowers’ Programme. He averred that Nigerian youths could leverage their talents, along with technological tools to improve farm productivity and delivery of agricultural produce to markets. While noting that agriculture offered significant benefi...
Lagos governor: We are ready to domesticate AfCFTA agreement
Lagos State Governor, Mr Babajide Sanwo-Olu, says the state is ready to domesticate the African Continental Free Trade Area (AfCFTA) agreement. Sanwo-Olu said this on Tuesday when he received the Minister for Industry, Trade and Investment, Mr Niyi Adebayo, on a courtesy visit at the Lagos House, Ikeja. The minister led members of the National Action Committee on nationwide sensitisation on African Continental Free Trade Area (AfCFTA), which the nation entered into to deepen economic integration among African countries. He said that Lagos had observed the processes leading to the adoption of the continental trade agreement and positioned itself for market expansion across areas of collaboration. The governor said the state was ready to take advantage of the AfCFTA for growth, as a local ac...
Zimbabwe authorises Sputnik V, Sinovac vaccines for emergency use
Zimbabwe has authorised the emergency use of four Covid-19 vaccines, including Russia’s Sputnik V and China’s Sinovac, the minister of information said on Tuesday. The southern African nation last month rolled out its Covid-19 vaccination programme after receiving a donation of 200 000 doses of shots from China National Pharmaceutical Group (Sinopharm). Last week, India announced that Zimbabwe had become the first African country to authorise the use of its Covaxin vaccine. The Medicines Control Authority of Zimbabwe has authorised the use of Sinopharm and Sinovac shots from China, Russia’s Sputnik V and India’s Covaxin, the information minister Monica Mutsvangwa said in a post-Cabinet briefing. “All Covid-19 approved vaccines will be procured through the National Vaccine Procurement Fund ...
APC states reiterate commitment to six months maternity leave
State governments controlled by the All Progressives Congress, have reiterated commitment to implementing a recommendation to grant nursing mothers 180 days (6 months) leave. This was contained in a communique issued after a virtual meeting with the theme: ‘Developing Common Policy Initiatives on Maternal & Child Nutrition Promotion in APC States,’ held by Secretaries to Governments of APC controlled states on Thursday. The communique, which was signed by Alhaji Adamu Fanini and Prof Danladi Atu, the SSGs of Jigawa and Plateau States, respectively, was made available to newsmen in Abuja, on Monday. It read in part, “Because of the significant role parental support plays in the lives of children and the need to enhance the health of nursing mothers, APC States are committed to implement...
NNPC declares N13.43 billion trading surplus for November 2020
The Nigerian National Petroleum Corporation, NNPC, has declared a trading surplus of N13.43billion for November 2020, 54 per cent more than the N8.71billion recorded in October 2020. This is contained in the November 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru Obateru said the trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue in the period under review. The report indicated that in November, NNPC Group’s operating revenue as compared to October 2020, decreased slightly by 0.02 per cent or N0.09billion to stand at N423.08 billion. Similarly, expenditure for the month decreased by 1...
CBN: Naira to fall further in January
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...
