Nigerians commend AMCON on intervention in Arik, Aero

Businessam StaffOctober 25, 2017

Airline passengers in Nigeria have commended the Asset Management Corporation of Nigeria (AMCON) on its intervention in two of Nigeria’s failing carriers, Arik Air and Aero. They specifically praised the on-time-performance (OTP) of Arik since the intervention. AMCON took over the management of the airline in February 2017 following a huge debt profile to AMCON […]

25 agencies fail to remit N1.695trn to Nigeria’s consolidated revenue fund- Senate committee

Businessam StaffOctober 24, 2017

A Senate Ad Hoc Committee has revealed that 25 agencies have shortchanged the Federal Government to the tune of N1.695 trillion by deliberately refusing to remit revenue accrued to the Consolidated Revenue Fund. The committee, according to NAN report, also disclosed that Nigerian National Petroleum Corporation (NNPC) was running on deficit of about N3.115 trillion […]

Nigeria’s NASS to meet aviation minister Wednesday over airports concession

Businessam StaffOctober 23, 2017

Sen. Hadi Sirika, Minister of State, Aviation

The Nigeria’s National Assembly Monday summoned Hadi Sirika, the country’s state minister for aviation, and other stakeholders in the industry over the concession of four major airports in the country. Olayinka Abioye, the General Secretary, National Union of Air Transport Employees (NUATE), confirmed the development to the News Agency of Nigeria (NAN) in Lagos. The […]

Nigeria Custom generates N4.89bn from eastern states area command

Businessam StaffSeptember 19, 2017

The Enugu, Anambra, and Ebonyi Area Command of the Nigerian Customs Service (NCS) has generated N4.89 billion within eight months. According to NAN’s report, the Area Comptroller, Suleiman Mohammed, made the disclosure to newsmen Monday at a stakeholders meeting in Enugu. Mohammed said that the N4.89 billion was about 45.3 percent of the projected revenue target […]

Minister inaugurates N500m data centre for stock exchange

Businessam StaffAugust 29, 2017

Ogbannaya Onu, Nigeria’s Minister of Science and Technology, Monday in Lagos inaugurated a N500 million Tier three Data Centre to support the activities of the Nigeria Stock Exchange (NSE). According to NAN’s report, he said that the centre had the potential to help the NSE compete favourably with some of ‘best exchanges’ in the world, […]

NIS now prohibits cash payments at passport offices

Businessam StaffAugust 28, 2017

Muhammad Babandede

The Nigeria Immigration Service (NIS) has banned cash payments for passport processing as part of efforts to eliminate corruption at all passport offices nationwide.‎ NIS spokesperson, Sunday James, disclosed this in an interview with the News Agency of Nigeria (NAN) Monday in Abuja, where he said that the Comptroller General of the NIS, Muhammad Babandede, […]

NPA Board approves new structure to eliminate redundancy, improves efficiency

Businessam StaffAugust 26, 2017

The Board of the Nigerian Ports Authority (NPA) says it has approved a new organisational structure and the commencement of a Business Process Re-engineering initiative to improve efficiency. In NAN’s report, Ibrahim Nasiru, the Principal Manager, Corporate and Strategic Communications Department of NPA, said in a statement on Saturday in Lagos that the management had […]

NCS Zone B records N14 billion revenue in 7 months

Businessam StaffAugust 10, 2017

Aminu Dahiru, the Assistant Comptroller-General, Nigeria Customs Service (NCS) Zone B, Kaduna, said Thursday that about N14 billion was collected as internally generated revenue, from January to July 2017. Dahiru told the News Agency of Nigeria (NAN) in Minna that the zone had taken measures to ensure that duties were paid on all goods coming […]