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NewsCBN raises interest rate by 400 basis points to 22.75%
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria exits technical recession with 3.46% GDP growth
BREAKINGSEC announces new rules for digital assets
NGXASI98,575.68 1.25%
NewsGold hits record high as investors seek safe haven
DOW42,850.22 0.32%
USD/NGN₦1,550 0.45%
NewsEuro depreciates against dollar ahead of ECB meeting
BTC$87,250 3.20%
ALERTAviation fuel prices drop by 8%
NewsStock market capitalization crosses N55 trillion mark
NEWSNNPC reports 47% profit increase
WTI$68.92 1.80%
NewsBitcoin surges past $87,000 on ETF inflows
UPDATETinubu approves ₦3 trillion for power sector
NewsNaira stabilizes at N1,550/$1 in official market
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsBrent crude approaches $75 amid Middle East tensions
S&P5,776.65 0.15%
NAS18,290.25 1.05%
NewsNigeria's inflation rate drops to 24.48% in January
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsDangote Refinery begins petrol production
EUR/USD1.0845 0.12%
BREAKINGNigeria secures $2.25 billion World Bank loan
NewsNigerian banking sector assets grow by 45% year-on-year
NewsFAAC disburses N1.1 trillion to federal, states, LGs
UPDATENDDC launches ₦2.5bn infrastructure bond
GOLD$2,890.5 0.85%
BRENT$72.45 2.10%
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria exits technical recession with 3.46% GDP growth
BREAKINGSEC announces new rules for digital assets
NGXASI98,575.68 1.25%
NewsGold hits record high as investors seek safe haven
DOW42,850.22 0.32%
USD/NGN₦1,550 0.45%
NewsEuro depreciates against dollar ahead of ECB meeting
BTC$87,250 3.20%
ALERTAviation fuel prices drop by 8%
NewsStock market capitalization crosses N55 trillion mark
NEWSNNPC reports 47% profit increase
WTI$68.92 1.80%
NewsBitcoin surges past $87,000 on ETF inflows
UPDATETinubu approves ₦3 trillion for power sector
NewsNaira stabilizes at N1,550/$1 in official market
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsBrent crude approaches $75 amid Middle East tensions
S&P5,776.65 0.15%
NAS18,290.25 1.05%
NewsNigeria's inflation rate drops to 24.48% in January
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsDangote Refinery begins petrol production
EUR/USD1.0845 0.12%
BREAKINGNigeria secures $2.25 billion World Bank loan
NewsNigerian banking sector assets grow by 45% year-on-year
NewsFAAC disburses N1.1 trillion to federal, states, LGs
UPDATENDDC launches ₦2.5bn infrastructure bond
GOLD$2,890.5 0.85%
BRENT$72.45 2.10%
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria exits technical recession with 3.46% GDP growth
BREAKINGSEC announces new rules for digital assets
NGXASI98,575.68 1.25%
NewsGold hits record high as investors seek safe haven
DOW42,850.22 0.32%
NGX INDICES
NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
MARKET NEWS
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
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Financial EDGE

We Didn’t Grant Waiver To Shipping Firms – NIMASA

By adminResearch Signal
We Didn’t Grant Waiver To Shipping Firms – NIMASA
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The Nigerian Maritime Administration and Safety Agency (NIMASA) has dismissed as false, allegations that it has been granting waivers to shipping firms. It also refuted allegations of preferential treatments for foreign shipping companies in the shipment of petroleum products.

Director General of NIMASA, Dr. Bashir Jamoh, made the clarifications during an investigative hearing on the “Urgent need to ensure strict compliance with statutory regulations and provisions regarding the Nigerian diving sector” organised by the Senate Committee on Local Content.

Recall that the Ship Owners Association of Nigeria (SOAN) had petitioned the Senate, asking it to intervene in what the association described as “unfavourable treatment and injustice” towards Indigenous shipping companies, which grants undue advantage to their foreign competitors.

However, the NIMASA boss denied any waivers or preferential treatments for foreign firms, adding that the agency lacked the powers to grant waivers, while the Ministry of Transportation, which is empowered by law to grant waivers had never granted any waivers for 15 years.

“The the operation of the Cabotage Act provides that NIMASA has the responsibility under Section 5 (2) to 5 (4) to process waiver and not to grant waiver. NIMASA never grants waiver, but only processes waiver.