Customs Foils N8.6bn Tramadol Smuggling Attempt at Abuja Airport   The Nigeria Customs Service (NCS), Federal Capital Territory (FCT) Command, has intercepted a large consignment of tramadol valued at over N8.6 billion at the Nnamdi Azikiwe International Airport. Unveiling the seizure, Comptroller Olumide Adebisi condemned the actions...

Afreximbank Funds Boost Nigeria's Economy with $50bn - Oramah   Afreximbank has disbursed a total of $50bn in Nigeria over the past decade, making significant contributions to the country’s key sectors, including energy, manufacturing, healthcare, transport, and financial services. The President and Chairman of the Board of...

N2.4trn Recapitalisation Fund Raised by Banks Through Capital Market - SEC DG   Nigerian banks have so far raised N2.4 trillion through the capital market in the ongoing recapitalisation of the banking sector directed by the Central Bank of Nigeria (CBN). Director-General of the Securities and...

Despite Piracy Decline, Importers Pay $1.5bn War Risk Premium   Despite the reduction in piracy attacks in the Gulf of Guinea, importers paid $1.5bn as war risk insurance premiums on Nigeria-bound cargoes in the last three years. This came as operators, including shipowners and ship captains, rejected...

Currency in Circulation Declines to N5.03trn - CBN   Currency in circulation dropped for the first time in one year, according to the updated money and credit data from the Central Bank of Nigeria (CBN). The currency in circulation, representing the banknotes and coins that have been...

N1.7bn Worth of Vehicles, Others Intercepted by Customs   The Nigeria Customs Service, Federal Operations Unit Zone A, Ikeja, said it recorded 82 interceptions, including used vehicles popularly known as Tokunbo and other contrabands worth N1.7bn within the last four weeks. The Customs Area Controller in charge...