In an affirmation of the expertise and competence of WACOT Rice Limited, the Lagos State Government on has signed an agreement with it to manage the Imota Rice Mill. The leading rice-producing company is a subsidiary of Tropical General Investments (TGI) Group. According to the arrangement, the 32-metric tonnes Imota Rice Mill will be handed over to WACOT Rice Limited …

Nigerian banks sacked at least 1,949 workers between the first and last quarters of last year, according to the National Bureau of Statistics (NBS). The staff strength of the banks surveyed in the NBS exercise dropped from 92,404 in the first quarter of 2021 to 90,455 by year-end. In its selected banking sector data report, reported by BizWatch Nigeria, the …

In its commitment to upskill and improve Small and Medium Scale Enterprises (SMEs), Stanbic IBTC Bank has trained 2000 SMEs in Nigeria, in partnership with the FATE Foundation. The training is in line with the financial institution’s mandate of driving business growth and building capacities to create successful enterprises in the country. Head of Enterprise Banking at Stanbic IBTC Bank, …

The Asset Management Corporation of Nigeria (AMCON) has reappointed Captain Ado Sanusi as the Managing Director of Aero Contractors. In 2020, Sanusi was reassigned by AMCON to manage the Nigerian Eagle (NG Eagle) carrier as part of the corporation’s exit strategy from Arik Air, while Captain Abdullahi Mahmood was seconded from Arik Air to manage Aero Contractors in 2021. But …

President Muhammadu Buhari has declined assent to the Customs and Excise Management Act amendment bill. This is the third time the President has refused to sign this bill sent to him by the National Assembly. In returning the bill to the federal parliament, President Buhari raised observations on 24 clauses and the schedules in the bill as passed by both …

The International Monetary Fund (IMF) has cut Nigeria’s economic growth projection for this year by 0.2 percent. The Washington-based financial institution reduced the projection from 3.4 percent it had last July to 3.2 percent. The report, which was disclosed on Tuesday in its World Economic Outlook (WEO) for October, also downgraded the economic growth projection for sub-Saharan Africa from 3.8 …

Kalabash Technology Solutions Limited (“Kalabash”), a financial technology services firm based in Lagos, Nigeria, has signed a multi-year agreement with Air Peace, West and Central Africa’s largest airline, to provide its innovative payment solution, Pay Small Small™ (PSS) to all the airline’s passengers. PSS is a flexible payment plan that allows passengers to access great travel deals and lock down …

The Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh has stated that stakeholders would continue to occupy premium position in the agency’s life, noting that it is the stakeholders who keep the Agency and maritime business afloat. During this year’s celebration of the Customer Service Week at NIMASA’s headquarters in Lagos, the DG stated his …

The Chartered Institute of Logistics and Transport, Nigeria (CILT-N) is set for its 2022 National Conference on “Sustainable Innovations in Global Logistics and Transport”. The two-day conference, which begins on Tuesday, includes the Institute’s Annual General Meeting with all events holding at Lagos Oriental Hotel. The national conference will attract industry stakeholders and experts, according to its National President, Barrister Mfon …

Nigerian Maritime Administration and Safety Agency (NIMASA) has expressed regret at the recent protest in Manila, the Philippines by over 100 cadets of the National Seafarers Development Programme (NSDP), assuring that it had the situation under control. In a statement on Saturday issued by the management, NIMASA said that its Executive Director in charge of Maritime Labour and Cabotage Services, …