Omodele Adigun and Uche Usim (Abuja) The Central Bank of Nigeria (CBN) has banned transfer of foreign exchange (forex) from one customer to another.  According to the apex bank, forex cash lodgements into domiciliary accounts can only be done by the account owners henceforth.   An internal memo available in the […]

  Senator Uba Sani, Chairman, Senate Committee on Banking, Insurance and other Financial Institutions       Sola Ojo, Kaduna The Senate Committee on Banking, Insurance and other Financial Institutions Chaired by Senator Uba Sani on Wednesday morning expressed concern over the campaign against the presidential assent to the recently passed […]

        Oil prices recovered on Tuesday, erasing overnight losses, as investors moved into risk assets and away from the safe-haven U.S. dollar, which tumbled to multi-year lows. Brent crude futures climbed 49 cents or 1.1 per cent to $45.77 a barrel at 0406 GMT. The U.S. West […]

          The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh has commended the Nigerian Navy for the successful enforcement of the new anti-piracy law in Nigeria. In a commendation letter to the Naval Headquarters, Dr Bashir noted the commendable achievements […]

    Crude oil prices remained steady, on Monday, as storms closed in on the Gulf of Mexico, shutting more than half the region’s oil production. Although, prices were capped by ongoing concerns about fuel demand being sapped by coronavirus lockdowns. Brent futures slipped two cents, or 0.1 per cent […]

Lament Nigeria’s inability to handle Tier 3 oil spills           Benjamin Babine, Abuja As the number of current oil spills in the Niger Delta rises above the 2000 mark, there is growing concern among some experts in the oil industry about the country’s current lack of capacity […]

  High Court convicts pirates in hijack of vessel – Navy     (Doris Esa, NAN) The Federal High Court (FHC) Port Harcourt has convicted 3 of the 9 accused persons who on March 21 hijacked an Equatorial Guinea flagged vessel, MV ELOBEY VI off Equatorial Guinea coast. Navy Director of […]

    Business owners who registered their organisations with the Corporate Affairs Commission (CAC) would no longer need to approach the Federal Inland Revenue Service (FIRS) for a tax identification number. In a statement on Monday, CAC said the processes of registering a business and getting a tax ID have been […]