Trade facilitation: Customs unveils digital baggage import declaration
The Nigeria Customs Service, NCS has announced the deployment of a Simplified Baggage Import Declaration System at the Seme Area Command. This marks a new phase in its drive for digital innovation, trade facilitation, and improved passenger clearance processes. The initiative is designed to streamline baggage declaration, reduce clearance time, and enhance transparency for legitimate […]
CBN, operators differ on ruling exchange rate
The Central Bank of Nigeria (CBN) and economic operators have disagreed on the exchange rate that governs business decisions and economic activities in the country. This disagreement was the highlight of the first TheCable Coloquium titled, “The Naira on Trial: To devalue or not”. While participants and panelists at the event unanimously agreed that economic activities are being priced at the parallel market exchange rate, which is N325 per dollar, the CBN disagreed, saying that it is the interbank exchange rate, which is currently N198 per dollar.
Acquisition: No redundancy, we’ll build skills, capability – Letshego GMD
The Group Managing Director of Letshego Microfinance Bank, Mr. Chris Low, has assured that there would be no job losses. He said this in an interview following the official announcement of Letshego’s acquisition of FBN Microfinance Bank (FBN MfB) in Lagos, just as he hinted that the company would be investing in building skills and capability among its management team.
Forex: German investors seek guarantee on profit repatriation
German investors in the country have sought guarantees from the Central Bank of Nigeria (CBN) on availability of foreign exchange to repatriate profits out country. This was one of the highlights of a meeting between CBN Governor, Mr. Godwin Emefiele and a German Business led by Vice Minister and Member of Parliament, Mr Uwe Beckmeyer of German Federal Ministry for Economic Affairs and Energy in Abuja last week.
Nigeria to commence 24 hours trading settlement cycle
For the first time in the history of any capital market in Africa, Nigeria is set to commence 24 hours trading settlement circle, even as investors in the Nigerian Capital market are now to get dividend payment within 24 hours through the e-Dividend Payment Platform. Director General of Securities and Exchange Commission (SEC) Mounir Gwarzo made this disclosure at the e-Dividend Sensitisation Town Hall Meeting in Lagos.
Stutern, Jobberman tackle unemployment with internships
Stutern, Nigeria’s internship marketplace has entered into a strategic partnership with Jobberman to tackle the menace of unemployment in the country through internship placement. Through this partnership, Stutern has become the exclusive partner of Jobberman for internship placements in the country.
