The Importers Association of Nigeria (IMAN) has said that some official of Government particularly those in the seaport aid and abet illegal the exportation of wood through the ports.

The Federal Government has expressed concern over the poor implementation of its fiscal and trade policies particularly implementation of port policies with regards to cargo clearance.

National President of the Association of Nigeria Licensed Customs Agents, ANLCA, Prince Olayiwola Shittu, has said that Nigerian ports would have been the preferred ports in the sub-region but for policy inconsistency on the part of government.

Operators in the maritime industry have accused the management of the Nigerian Ports Authority, NPA, of neglecting their interest, even as they expressed confidence in the proposed move by the Federal Government to make the Nigerian Shippers Council, NSC, the commercial regulator for port operations.

United Nations Industrial Development Organisation, UNIDO, has warned that the exclusion of youths from the employment market will continue to undermine the economy of African countries.

Nigeria’s indigenous energy group, Oando, is set to complete its purchase of ConocoPhilips’ Nigerian assets.

The Nigerian Electricity Regulatory Commission, NERC, has put into operation a Multi-Year Tariff Order, MYTO, for the determination of the cost of electricity sold by distribution/retail companies for the period 1 June 2012 to 31 May 2017.

In line with its resolve of returning sanity to the equity market, the Nigerian Stock Exchange, NSE, said it fined five stockbroking firms the sum of N17 million in 2013 for contravening various rules and regulation guiding operation in the market.

The National Insurance Commission,NAICOM, said it successfully facilitated claims payment of over N2 billion in 2013.
In a statement, NAICOM said the move is in line with its continuing efforts at ensuring adequate protection of policyholders and insurance consumers over settlement of genuine insurance claims.

The Chairman of Dock Management Nigeria Ltd, Alhaji Moshood Salvador, said government could get N4.6 trillion revenue through the Customs duties and ports charges.
Salvador told the News Agency of Nigeria (NAN) in Lagos that if Federal Government could make port tariffs competitive it would achieve the revenue projections in the 2014 budget.

As at end of December 2013, only 39 insurance companies were able to get the National Insurance Commission, NAICOM’s, approval for their International Financial Reporting Standard, IFRS, compliant financial results.
Accordingly, 20 firms were unable to scale through the IFRS hurdle.

A couple of representatives of the federal flood insurance program came to College of Coastal Georgia to discuss new higher rates that will be phased in coming years.

All but two life insurers made a profit in the year to June 30, according the latest data from the Australian Prudential Regulation Authority.
Scor Global life reported a $1 million loss, while Gen Re lost $23 million.

Custodian & Allied Insurance Plc has unveiled a new group structure following a successful merger between it and Crusader (Nigeria) Plc.
In a statement, the Company disclosed that it is pleased to inform the investing public of the new structure of the resulting entity.

STANDARDS Organisation of Nigeria (SON) says it has captured 6,899 products from 927 companies under its electronic -registrations scheme.