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 […]
Poor orientation hampers MSMEDF disbursement — SMEDAN
“The microfinance banks are complaining that they already have collateral with the Central Bank, but the SMEs approaching them for the loans are coming with un-presentable collateral, so with this, it is difficult for the microfinance banks to keep giving out the loans. “We are currently on reconciling terms with the CBN to figure out other means, but another major issue is that some of the SME owners are getting poor orientation about the loans,” he said.
Eni misled shareholders over Nigeria corruption scandal — Global Witness
The most senior managers at oil giant Eni appear to have misled shareholders over the company’s actions in a corrupt oil deal at its 2014 AGM. This is very important – as they gather for the 2015 meeting, shareholders in Italy’s biggest company should expect straight answers over a deal which poses real risks to their investments. The corruption at the heart of the deal deprived the Nigerian state of over U.S. $1.1 billion, has triggered investigations by authorities in three countries, and could ultimately lead to the Eni and its partner Shell losing access to the oil block.
Alibaba in litigation over fake goods
A group of luxury goods makers in the United States has sued, CHinese e-commerce giant, Alibaba Group Holding Ltd contending that it had knowingly made it possible for counterfeiters to sell their products throughout the world. The lawsuit alleged that Alibaba had conspired to manufacture, offer for sale and traffic in counterfeit products bearing their trademarks without their permission.
Openshopen emerges e-commerce platform of the year
Computer Warehouse Group, CWG’s e-commerce platform, Openshopen.ng has been named e-commerce platform of the year at the Beacon of Information and Communication Technology awards held in Lagos recently. The website, polled the highest votes in its category following an online poll that featured over two hundred thousand entries via email and on the award’s electronic voting portal.
PayPal to trade under old symbol after split from EBay
PayPal, the payments division that’s separating from the online marketplace, EBay, will trade on the Nasdaq Stock Market as PYPL, its original ticker symbol before being acquired by the online marketplace in 2002. “I’m honoured and thrilled that PayPal is returning to its roots as an independent company,” said PayPal President, Dan Schulman, who will be the company’s Chief Executive Officer when the split is completed in the third quarter of the year.
