The low crude oil price has started to take its toll on Nigeria’s economy, triggering a huge decline in the country’s foreign reserves and engendering a free fall of the naira, and a host of others. Already, in the April Federation Account Allocation Committee, FAAC, meeting, it was stated that the country recorded a revenue shortfall of N 86.42 billion, due to a N78.36 billion decline from oil revenue.

The immediate benefit of the Biometric Verification Number (BVN), is that, it allows banks to be sure of who they are dealing with. The second benefit is that it reduces the possibility for fraudsters using bank accounts and services for fraudulent purposes.

According to Haruna, who was represented by Mrs. Edna Eneh, Director Reform and Coordination in the Ministry, lauded the PTDF for performing the Corporate Social Responsibility initiative, especially as there is a lot that still needs to be done in growing the sector. He said, “The industry is dynamic and we have to move in line with global developments in the oil and gas industry, especially as the world has evolved into a global village.”

“Everybody should have a choice of where they want to take their cargoes to. “The government concessioned the ports, all of them (concessionaires) signed the same documents. Why do you have to force people to take their cargo to Onne so that they can charge them in dollars, and not only that, their charges are 300 times more than regular charges in other ports.”

Online vehicle marketplace, Carmudi.com has said that Nigerian used cars remain the best selling cars online, as about 2,400 Nigerian used cars are sold through the platform monthly. Carmudi’s Head of Operations for Africa, Mohammed Iyamu told Vanguard that of the 3,000 Nigerian used cars that are listed on the website monthly, 80 per cent are sold.

“After 60 days ICAO will forward the USAP CMA audit report to Nigeria. In 30 days, Nigeria will submit its comments on the audit report if any. Within another 30 days, the country will submit to ICAO its Corrective Action Plan (CAP)” he said. An elated Capt. Usman revealed that he was happy that Nigeria performed better than she did in 2008 adding that the country would not rest on her oars but will continue to ensure that our air transport operation is secure and safe.

Investors in the Nigerian capital market have been excluded from paying extra fee for biometric and signature verification in the process of keying into the automation of capital market activities. Mr. Niyi Ajao, Executive Director, Technology and Operations, Nigeria Inter –Bank Settlement System (NIBSS) disclosed to Vanguard that arrangements were reached by Central Bank of Nigeria, CBN , Securities and Exchange Commission SEC an NIBBS to ensure that investors do not incur extra charge as the market moves into full automation processes.

The Outdoor Advertising Agencies of Nigeria, OAAN, has decried proliferation of approving agencies of government in the outdoor segment of the advertising industry. Mr. Emmanuel Ajufo, Secretary of the Association who also is the secretary of the West African Outdoor Advertising Association in a chat with Vanguard bemoaned the proliferation of outdoor approving agencies.

Given the dwindling fortune of the Nigerian economy and the high youth unemployment rate, young people in the most populous black nation of the world are ever in search of empowerment opportunities to ignite their passion, connect them to people and resources to help them achieve their dreams.

The Lagos Chamber of Commerce and Industry (LCCI), has described the move by the Central Bank of Nigeria (CBN) to publish names of debtors to shame individuals and companies involved after the August 1, 2015 (yesterday) deadline, as unprofessional, calling on CBN to examine the default on case by case basis in order to avoid sweeping generalisation. The chamber also advised the apex bank to adhere to global best practice of debt recovery by giving due consideration to legal implications.