Warehouses
Commodities trading: SEC issues new rules on warehousing, collateral management
File Photo In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration shall submit proof of ownership or registered-lease deed or rent agreement, alongside a disclaimer from the owner of the warehouse/property providing waiver of ownership regarding commodities stored in such ...
Fire guts goods worth over N35 million in Aba
A late evening fire outbreak on Thursday gutted a three-storey building at No 74 Jubille Road, Aba, Abia, destroying goods worth more than N35 million. The fire also gutted a makeshift warehouse at the back of the three-storey building with Motorcycle spare parts and also burnt the contents of rooms on three floors at the back of the main building. Newsmen visited the scene of the incident and reports that the three-storey building, other adjoining blocks with their wares were not spared by the inferno. Mr Donatus Ezenwaka, a victim and Motorcycle Spare Parts dealer at the building told newsmen on Friday that he was called back at about 11 pm to his shop by a neighbour because the building was on fire. “I came and it was as told me and there was a crowd around here. “They said the fire beg...
Archbishop Kaigama: Why Nigerians are afraid to accept coronavirus vaccine
File Photo Catholic Archbishop of Abuja, His Grace Most Revd. Ignatius Kaigama, on Sunday, said many Nigerians are afraid to accept the COVID-19 vaccine because they believe that the health crisis was being manipulated by some people. Kaigama, who stated this in Abuja during his homily at St. Jude’s Parish Zuba, however, urged Nigerians to disregard insinuations that the vaccine was not medically safe and affordable. He said, “Even though many today will seriously question facts about COVID-19 and fear that there is manipulation by some people, we know that the disease is real. “People very dear to us have died of coronavirus disease. There is no doubt that our world is currently sick, ravaged by the COVID-19 pandemic. “The fear today is that the menace of Coronavirus will continue to be w...
Official: NDLEA seizes N1.4 billion worth of cannabis in Edo
The National Drug Law Enforcement Agency (NDLEA) in Edo State said it has uncovered suspected cannabis warehouses in Ukpuje forest in Owan West Local Government Area of the state. Buba Wakawa, the state commander of the agency, announced this at a news conference on Saturday in Benin City. Mr Wakawa said the village had four large warehouses with 233,778 kilogrammes of dried weeds suspected to be cannabis. The substance, according to him, has an estimated street value of more than N1.4 billion. Seven people believed to be running the cannabis trafficking syndicate have been apprehended, he said. “This is the largest single concentration of cannabis discovered by the command,” he added. Mr Wakawa said while the quantity seized weighed 2,249 kilogrammes, others weighing 231,529 kilogrammes w...
Moderna, McKesson, U.S. Army general begin rolling out new coronavirus vaccine
Distribution of Moderna Inc’s COVID-19 vaccine to more than 3,700 locations in the United States has begun, vastly widening the rollout started last week by Pfizer Inc, U.S Army General Gustave Perna said on Saturday. Moderna has already moved vaccines from its manufacturing plants to warehouses operated by distributor McKesson Corp where they are being packed into containers and loaded on to trucks on Saturday, Perna said during a news conference. Trucks will set out on Sunday and shipments will start reaching healthcare providers as soon as Monday, he said. The Food and Drug Administration on Friday approved an emergency use authorization for Moderna’s vaccine, the second COVID-19 vaccine to be approved. The jab developed by Pfizer and its German partner BioNTech SE was approved Dec. 11....
UNHCR sends emergency aid to Sudan, more expected
The United Nations said Friday it had flown 32 tons of emergency aid to Khartoum, Sudan to quickly assist the thousands of refugees fleeing fighting and violence in Ethiopia. The UN refugee agency, UNHCR said a second shipment is expected to arrive by plane from Dubai on Monday. More than 43,300 refugees have crossed the border to Sudan so far. The number of refugees could reach 200,000 in the next six months according to humanitarian agencies. Visiting Khartoum to oversee operations, UNHCR boss Filipo Grandi expressed his solidarity and gratitude to Sudan for opening its borders to refugees. According to a UNHCR spokesman in Geneva half of them are children. Friday’s flight brought 5,000 blankets, 4,500 solar lamps, 2,900 mosquito nets, 200 tarpaulins and 200 rolls of plastic. Monday’s fl...
Adamawa government relaxes curfew
The Adamawa government has relaxed the 24-hour curfew earlier imposed on the state. Gov. Ahmadu Fintiri, who stated this in Yola on Thursday, said that the curfew would be from 8 am. to 6 pm., beginning from Oct. 30. Newsmen recall that the 24- hour curfew was imposed on Oct. 25, following the destruction and looting of government and private warehouses in the state by some hoodlums, hiding under EndSARS protest. “We shall review the timing as situation warrants. Meanwhile, checkpoints will be mounted at all the entry and exit points in the state. “This is a measure taken to stop any attempt by the thieves to escape from the state with the looted items,” he said. The governor appealed to the people of the state to bear with the government, saying the measures were in their collective inter...
FCT minister condemns looting, assures residents of safety
The Minister of the Federal Capital Territory, Malam Muhammad Bello, has condemned the looting of warehouses at the Idu Industrial Layout, Gwagwalada, and other areas within the territory by hoodlums in search of COVID-19 palliatives. He assured the residents of maximum security. Bello gave the assurances when he led the FCT Security Task Force, comprising the FCT Commissioner of Police and heads of various security agencies to assess the level of destructions by hoodlums at Idu Industrial Layout. He also assured of FCT Administration’s commitment to work with relevant stakeholders to provide adequate security, especially at the Idu industrial zone. The minister said, “For the last few hours, we have been going around the Idu Industrial Layout of FCT together with Abuja branch Chairman, Ma...
NSCDC partners youths to protect critical infrastructure in Akwa Ibom
The Akwa Ibom Command of the Nigeria Security and Civil Defence Corps (NSCDC), says it will collaborate with youth leaders across the state to ensure adequate protection of critical government infrastructure. The State Commandant of NSCDC, Mr Samuel Fadeyi, said this while answering questions from newsmen on Tuesday in Uyo. Fadeyi said that, in view of the current #EndSARS protests in some parts of the country, the command has deployed all its personnel to critical government infrastructure in the state. He said the development is to ensure that hoodlums that have hijacked the protests do not loot, vandalise or destroy the infrastructure. Fadeyi said the command has urged the youth to see government infrastructure as belonging to them and should promptly provide information on any planned ...
CACOVID: Looted palliatives awaiting distribution
Most of the looted palliatives in warehouses across the nation were awaiting distribution to over 2 million vulnerable households, the private sector-led Coalition Against COVID (CACOVID) has explained. In a statement on Monday night, CACOVID said: “The sheer scale of this nationwide food programme and the timing of the orders and deliveries, which coincided with the lockdowns and reduced movement across the country, compelled CACOVID to roll out distribution in a staggered manner”. CACOVID maintained: “The very large size of the order, and the production cycle required to meet the demand, caused delays in delivering the food items to the States in an expeditious manner; hence the resultant delay in delivery of the food palliatives by the State Governors”. For instance, “rice had to be mil...
Nigeria seeks to halt looting amid fury over ‘food warehouses’
Nigerian security forces are struggling to contain increasing cases of looting on government-run warehouses across the country, in the latest incident of unrest following widespread, youth-led protests against police brutality. The storage facilities hold tonnes of relief materials including food meant for distribution during lockdowns previously enforced to stem the spread of the novel coronavirus. While the distribution programme had been temporarily halted across several states in the country in recent months, it emerged this week relief items were still stored in some of these facilities, as well as the private homes of politicians. The news angered many in the country with the biggest number of people living in extreme poverty globally. “The food items belong to Nigerians. Why are the...
