Business

Banks awash with excess cash amidst poverty

Banks awash with excess cash amidst poverty

•As banking system liquidity surges 17% to N5.5trn By Elizabeth Adegbesan Amidst prevalent poverty in the country, Nigeria’s financial sector experienced a major injection of cash as the average net liquidity in the banking system surged to N5.53 trillion in May 2026. This represents a 17.16 per cent increase from the N4.72 trillion recorded previous […]
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Initiators  of new shipping line kicks against non-inclusion

Initiators of new shipping line kicks against non-inclusion

THE initiators of the newly approved national shipping line, the Maritime Professional Association (MPA) has kicked against their non-inclusion in the setting up the shipping firm threatening to take legal action against the authorities.

Kano, hubs of smuggling —NTMA

Kano, hubs of smuggling —NTMA

market is the hub of smuggling activities in the country, said the Nigerian Textile Manufacturers Association (NTMA).
“Kano market still remained the main hub of the smugglers, contraband are off loaded in the full glare of everybody in the broad day light without any inhibition”, said Mr. Jaiyeola Olanrewaji, Director General of NTMA.

Cotecna clinches Best Service Provider award

Cotecna clinches Best Service Provider award

Cote Destination Inspection Limited has emerged as the best Service Provider in the post port reforms in Nigerian Maritime industry.
The award was presented at the weekend, to Cotecna’s Deputy Managing Director, Mr. Ernest Woka, by a distinguished legislator, Hon. Emeka Ihedioha at the event chaired by former Managing Director of the Nigerian Ports Authority (NPA), Chief Adebayo Sarumi.

Market value dips further by N35bn

Market value dips further by N35bn

The downtrend in the Nigerian capital market continued, Tuesday, as the value of listed equities on the Nigerian Stock Exchange (NSE) dipped further by N34.63 billion.

NIMASA orders vessels to carry Automated Identification Systems

NIMASA orders vessels to carry Automated Identification Systems

The Nigerian Maritime Administration and Safety Agency (NIMASA) has directed all passenger ships operating on Nigerian waters to ensure that they carry a fully functional Automated Identification System (AIS) on board in an efforts to optimum safety standards on Nigerian waters.