Finance articles

Customs generate N262.3bn in 11 months at Tin Can Port – Official

Customs generate N262.3bn in 11 months at Tin Can Port – Official

The Tin Can Island Command of the Nigeria Customs Service ( NCS ) said it generated N262.3 billion revenue between January and November. Mr Uche Ejesieme, the Public Relations Officer for the command said this in a statement in Lagos on Friday. Ejesieme quoted Mr Yusuf Bashar, the Area Comptroller in charge of the command

Ambode presents 2018 Budget to Lagos Assembly Monday

Governor Akinwunmi Ambode of Lagos State will present the 2018 Appropriation Bill to the state House of Assembly for approval, on Monday. A statement by Ms Bose Lambo, Director, Public Affairs of the Assembly, said the presentation would commence at 11:00a.m. and urged guests to be punctual. “This is to inform the general public that

Man gets N50,000 bail for N8000 theft

A 22-year-old man, Jamiu Habeeb, who allegedly stole 10 shirts worth N8000 from a trader, Mohammed Isah, was on Friday in Lagos granted a N50,000 bail. The Senior Magistrate, Mr M.A. Etti, who gave the ruling at an Apapa Magistrates’ Court, ordered the accused to provide one surety as part of the bail conditions. Etti

CBN injects $210m into forex market

The Central Bank of Nigeria on Monday opened the foreign exchange market with the injection of another $210m to sustain liquidity. The acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, said the sum of $100m was offered to the wholesale segment, while the Small and Medium-scale Enterprises segment got an allocation of $55m. The

Court Unfreezes 16 Accounts Belonging To Patience Jonathan

The Federal High Court in Abuja has reversed its order made on May 30, to freeze 16 accounts belonging to the wife of former President Goodluck Jonathan, Patience. Justice Binta Nyako withdrew the order on Tuesday on the grounds that the Economic and Financial Crimes Commission (EFCC) which secured the freezing order, failed to conduct

Senate Passes MTEF, Increases Oil Price Benchmark

The Nigerian Senate has, Tuesday, passed the 2018-2020 Medium-Term Expenditure Framework, MTEF, increasing the oil price benchmark proposed by the Federal Government from 45 to 47 dollars per barrel. The Senate equally approved an exchange rate of 305 naira to a dollar even as it approved 2.3 million barrels of oil production per day. The

British internet banking, app crash as customers rage on Twitter

British nationwide’s internet banking and app services have crushed with frustrated customers turning to Twitter to rage at the bank. One customer complained that the service has been crashing “every week nearly all year” describing the service as “dire”. The bank replied to angry customer’s tweets saying: “Internet Banking & the Banking app are currently