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Business

Nigeria plans clampdown on shell companies

The Nigeria Financial Intelligence Unit, NFIU, has announced an upcoming crackdown on ghost businesses across the country, amidst concerns about lax regulation of companies’ financial dealings. The head of the agency, Moddibo Tukur, said during a visit to the Securities and Exchange Commission on Wednesday that the businesses that were registered without physical addresses constitute […]

Transport

NPA to incorporate CRFFN into its web portal

-Promises enabling environment for Council’s operation By Foster Obi To facilitate access to operational information, the Nigerian Ports Authority (NPA) has agreed to integrate the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) transaction Portal into the Authority’s Web Portal. The Managing Director, HadizaBala Usman who disclosed this while receiving members of the […]

Business

External debt rises by $15.3bn under Buhari

The nation’s external debt stock rose by 148 per cent in almost four years of the President Muhammadu Buhari administration, data from the Debt Management Office showed. The external debt soared to $25.61bn on March 31, 2019 from $10.32bn on June 30, 2015, according to the DMO. Eurobonds worth $10.87bn accounted for the largest chunk […]