The Nigerian Customs Service today intercepted a container-load of arms and ammunition at the Tin Can Island Port in Lagos. The container was found at the Ports and Cargo Terminal. Vigil360 sources at the port revealed that the Customs officials are currently counting the arms. The terminal has been cordon-off as everyone has been ordered to vacate the area.

Central Bank of NIgeria

The Central Bank of Nigeria (CBN) on Monday sustained its ongoing intervention in the foreign exchange market with the injection of fresh $205 million into various segments of the market with a view to strengthen the Naira. This notwithstanding, the naira devalued to N379 per dollar in the parallel market.

Ethiopian Airlines on Monday refuted the claims that it was collecting unauthorised charges on its route from Nigeria to South Africa. The airline issued the denial in a statement signed by its media consultant, Ikechi Uko. The Nigerian Civil Aviation Authority (NCAA) had on Sunday ordered the airline to stop the collection of the charges referred to as “refundable deportation fee’’.

Calabar Garment Factory

Prof. Ben Ayade, the Cross River State Governor, has disclosed that the Calabar Garment Factory is now producing in commercial quantity and capable of meeting local needs including for export. The governor, speaking after the rollout of the first set of clothes from the garment factory in Calabar vowed that starting from June 2017, he would not be wearing clothes that are not made from the factory.

Yemi Kale - Statistician General

The Statiscian General of Nigeria, Yemi Kale, has reaffirmed recent projections by the World Bank and IMF that the Nigerian economy may soon come out of recession.  Mr. Kale made this known today while featuring on Channels TV Business Morning hosted by Boason Omofaye. According to him, even though the GDP contracted by 0.52% in the first quarter, it was way better than the 1.73% recorded in the fourth quarter of 2016.

The Nigerian National Petroleum Corporation is at the verge of signing a whopping $6bn (N2.25 trn ) worth of deals to exchange more than 300,000 barrels of crude oil per day for imported petroleum products, a source familiar with the issue disclosed to Vigil360.

Lagos State Governor Ambode

The Lagos State Government disclosed that it has terminated a Memorandum of Understanding (MoU) it entered into into with a consortium of firms to construct the Fourth Mainland Bridge at N844 billion. The Project was to be financed by the Africa Finance Corporation, Access bank and other private investors who have already signify intention to be part of the construction, while Visible Assets Limited would be the coordinating firm.

Chatham House - the Royal Institute of International Affairs

A report has revealed that about $480 billion was stolen or carted from Nigeria’s treasury by government corrupt officials between 1960 and 2004. Chatham House, the Royal Institute of International Affairs, who presented the report in Abuja yesterday is an independent policy institute based in London.

CAC NIgeria

Staff of Corporate Affairs Commission (CAC) under the aegis of Amalgamated Union of Public Corporation and Recreation Service Employees (AUPTRE) has concluded plans to embark on indefinite strike Wednesday, over alleged refusal by management of the Commission and Ministry of Trade and Investment to implement an agreement entered into with the union four years ago.

CBN Headquarters, Nigeria

The Central Bank of Nigeria (CBN) on Wednesday published a list of items, for which importers can source foreign exchange (Forex) from the market. CBN sent the list which has 36 categories, to all authorized dealers, Nigeria Customs and the public. It is endorsed by Director, Trade and Exchange, W.D Gotring.

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