Government’s agencies, insurers to recoup N45bn from counterfeit operators

FRSC Boss, Boboye Oyeyemi. PHOTO: nigeriannewsservice.com The Federal Government has revealed plans to work with the insurance industry to recover about N45billion lost to fake insurance operators nationwide, particularly on Third Party Motor Insurance Policy that has been a major challenge to the industry where 90 per cent of insurance papers registered at licensing offices […]

Oyo, Osun customs generates N16b revenue in 2017

Nigeria Customs Service The Customs Area Controller, Oyo/Osun area, Elisha Chikan, on Tuesday disclosed that his command generated over N16.18 billion between January and November 2017. Chikan also told journalists, at a press conference in Ibadan, Oyo State that officers under his Command made an impressive haul of 111 seizures with Duty Value Payable (DPV) […]

CBN revives N550b non-oil export facility

• Ambode charges CBN, banks on profit motives The Central Bank of Nigeria (CBN) stepped up its development intervention in the economy as it disclosed yesterday that N500 billion Export Stimulation Facility and N50 billion Direct Intervention Fund being under consideration for two years has fully taken off. The move, which is a fallout of […]

Nigeria loses 2,648.7mw to gas, line constraint

The Nigeria’s power sector lost 2,648.7 megawatts (mw) on the October 29 to line and gas constraints, according to the daily electricity generation report by the Federal Ministry of Power Works and Housing. The daily report, obtained by The Guardian on Monday, put the utilized generation capability of Geregu Nigerian National Integrated Power Project (NIPP) […]