The Nigerian Custom Service, NCS, Tincan Island Port, TCIP has seized eight 20 foot containers comprising 206 thousand pieces of brand new machetes; Sodium bromated and baking powder; Indian hemp; vehicles; among others. Also, the port collected N135. 4 billion revenue between January and March 2022, indicating a 20.18 percent or N22.7 billion, Year-on-Year, YoY, […]

By Prince Okafor Oil and gas companies operating in the Niger Delta spilled 1,545 barrels of crude oil, an equivalent of 246, 000 litres, in three months, from January to March 2022, according to data obtained from the National Oil Spill Detection Response Agency, NOSDRA. Although this indicates 52.6 percent less than the 3,262 barrels […]

By Nkiruka Nnorom DLM Capital Group, a development investment bank, has received the final approval of the Central Bank of Nigeria (CBN) for its acquisition of Links Microfinance Bank. The approval, according to the bank, will further solidify the Group’s much awaited digital banking entrance and launch. This development transitions DLM Capital as one of […]

By Sebastine Obasi All is not well in Nigeria’s oil industry as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) stated that oil output dropped to an average of 1.24 million barrels per day (bpd) from 1.25 million recorded in February 2022. NUPRC stated this in its latest crude oil and condensate production data for March […]

By Yinka Kolawole The myriad of challenges caused by worsening insecurity and crisis in the energy sector may subdue the Gross Domestic Product (GDP) growth projections for Nigeria in 2022, the Lagos Chamber of Commerce and Industry (LCCI) has warned. President, LCCI, Dr Michael Olawale-Cole, who gave the warning at a quarterly briefing on the […]