Connect with us

Business

Shippers Council Moves To Stop Illegal Port Charges

Published

on

The Nigerian Shippers
Council (NSC) has urged ports service providers to stop the collection of any illegal charges not statutorily approved.
In a statement issued to newsmen on Monday, the Deputy Director, Public Relations, Nigerian Shippers Council, Mr. Ignatius Nweke said the council’s decisions as challenged by the service providers and upheld by a federal high court must be carried out with full compliance.
Nweke said importers and freight forwarders at the nation’s ports must assist the council to compile all the illegal charges being collected by the terminal operators and shipping companies.
He explained the council would bring the full weight of the law against all those who disobeyed the lawful order of the federal high court.
The council’s spokesman said the shippers council will ensure that any illegal fees or charges collected by the affected shipping companies and terminal operators would be refunded.
He said the council will continue to protect the interest of the Nigerian shippers by making the operating environment conducive for business, stressing that NSC wants to ensure that the nation’s economy is not allowed to stagnate through the actions of any group or individual.
Nweke further explained that the council was interested in ensuring that the cost of doing business at the nation’s ports was reduced for the good of the nation’s economy, stressing that a study had been carried out to ascertain what obtains in other neighbouring countries before the Shippers Council approved the policy measure on some shipping charges at the nation’s ports.
He also said that the council has directed its consumer complaints unit to visit all the nation’s port with the aim of interfacing with importers and custom brokers with a view to gathering more information on the illegal charges being collected by the ports services providers.
Meanwhile, The Tide has been reliably informed at the office of the Association of Nigerian Customs and License Agents (ANCLA) at Onne that freight forwarders and importers have applied to the federal high court seeking for stay of execution of the court’s judgement in favour of the Nigerian shippers council ports charges approval policy and therefore claimed that the council ought to have waited.

 

Philip Okparaji

Print Friendly, PDF & Email
Continue Reading

Business

NSE Begins Week On Negative Note, Loses N19.49bn

Published

on

The Nigerian stock market began the week on a negative note as banking and consumer goods stocks, among others, triggered a N19.49bn loss.
At the end of trading on the floor of the Nigerian  Exchange Limited , the NGX All-Share Index dropped by 0.09 per cent to end at 43,270.94 basis points, while the market capitalisation declined to N22.58tn.
Market activities were mixed as the total volume of shares traded decreased by 30.19 per cent while the value traded rose by 34.05 per cent.
A total of 213.13 million shares valued at N2.36bn were exchanged in 4,105 deals, compared to 305.32 million shares worth N3.58bn in 4,450 deals last Friday.
FCMB Group Plc topped the traded stocks in terms of volume, accounting for 27.43 per cent of the total volume of trades while Airtel Africa Plc emerged as the most traded stock by value, representing 28.81 per cent of the total value of trades on the exchange.
14 firms gained compared to 21 losers.
AIICO Insurance Plc was the biggest gainer for the day, topping the gainers’ chart with a price appreciation of 8.57 per cent to N0.76 per share.
It was followed by LivingTrust Mortgage Bank Plc with a rise of 7.95 per cent, ending the day at N0.95 per share.
Analysing by sectors, three of the five major indices closed lower, led by NGX Oil & Gas (-0.56 per cent), NGX Consumer Goods (-0.23 per cent) and NGX Banking (0.18 per cent).
But the insurance (0.82 per cent) and industrial goods (0.002 per cent) indices gained at the end of trading.

Print Friendly, PDF & Email
Continue Reading

Business

… Introduces TIES To Boost  Business Loan

Published

on

The Central Bank of Nigeria (CBN) has introduced the Tertiary Institutions Entrepreneurship Scheme (TIES), which provides undergraduates and graduates with a platform to access loans.
The TIES’ underlying aim is to provide access to capital for Nigerian undergraduates and graduates with innovative entrepreneurial and technological ideas from polytechnics and universities.
TIES intends to shift undergraduates and graduates away from white-collar job pursuits and towards a culture of entrepreneurship development for economic development and job creation.
In a national biennial entrepreneurship competition, the Developmental Component would be distributed in the form of awards to Nigerian polytechnics and universities.
The competition aims to increase undergraduates’ awareness and visibility of high-impact entrepreneurial/technological concepts, foster entrepreneurial talent hunts in Nigerian polytechnics and universities, and encourage commercially viable and transformative technologies.
Interested Nigerian polytechnics and universities shall apply to participate in the national biennial entrepreneurship competition on a dedicated online portal.
Outlining brief details of the project, potential impact and evidence of originality of project, CBN said it is an innovation for students entrepreneurs.

Print Friendly, PDF & Email
Continue Reading

Business

CITN Applauds FG, Tax Authorities On Fiscal Policy Decisions

Published

on

The Chartered Institute of Taxation of Nigeria (CITN) has lauded the Federal Government and tax authorities on the giant strides made on fiscal policy decisions and tax administration measures initiated this year in the area of Finance Act 2021 and the introduction of TaxPromax solution.
President of the institute, Adesina Adedayo, who gave the commendation at the institute’s yearly award ceremony at the weekend in Lagos, assured the government and tax authorities of aligning with the measures and promised to provide professional thoughts and insights on ways through which they could achieve an efficient and effective Nigerian tax system.
Adedayo emphasised the need to address the database, adding that without knowing who the tax-payers are, there is no way they can take money from unknown tax-payers.
Database is the aspect we have been emphasising on as an institute and in doing this, there are so many of pockets of data we have. All the data must be harmonised to have a simple unique tax-payers identification number,” he said.

Print Friendly, PDF & Email
Continue Reading

Trending