Commercial banks operating in Lagos State have commenced the implementation of approved processing charges on cash withdrawal limits on individuals and corporate organisations in line with the directive by the Central Bank of Nigeria (CBN), which fixed April 1, 2012 as the takeoff date.

Comptroller Dan Ugo is the new Customs Area Controller (CAC), Federal Operations Unit (FOU) Zone A, of Nigeria Customs Service (NCS). Before his deployment to FOU, known to be the Customs busiest anti-smuggling network covering the entire South West of Nigeria, Ugo worked as CAC of the nation’s premier Port Command of Apapa, MMIA, Onne port and served in various capacities in the service with about 30 years experience. He speaks on the unit’s 306 seizures in two months, the arrest of 51 suspects and the action plan to make FOU more active.

One of the policies and strategies employed by developing economies to grow their industrial base is import substitution. Import substitution industrialisation strategy (ISI) involves producing locally, goods that were formerly imported.

Globacom, Nigeria’s most innovative telecommunications company, has launched a new service, GLO SMS4EVER, which enables subscribers to store their text messages (SMS) for as long as they want.

Amount of money accruable to the Federal Government, FG, in terms of duty paid from the Free Trade Zone (FTZ)’s investments since inception in the country stands at N50 billion, the Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Dr. Sina Agboluaje, has said.