Category: Business

CAC issues Six-Week ultimatum to Businesses over CAMA violations, warns of Jail Terms and Fines

Lukman Laleye Babalola

The Corporate Affairs Commission (CAC) has issued a stern warning to companies and business operators in Nigeria, mandating strict compliance with the Companies and Allied Matters Act (CAMA), 2020. The Commission cautioned that violators risk a two-year jail term and daily fines for non-compliance. In a public notice released on Tuesday, the CAC emphasized that it is a criminal offence under Section 863 of the Act to operate a business without proper registration or to use a name or acronym different from that officially registered. “All companies, Limited Liability Partnerships,…

“A New Era in African Space Development” – NASRDA DG declares at AfSA launch in Cairo

Lukman Laleye Babalola

Nigeria’s leadership in Africa’s space ecosystem was once again on display as the Director General of the National Space Research and Development Agency (NASRDA), Dr. Matthew Olumide Adepoju, played a prominent role at the official inauguration of the African Space Agency (AfSA) held in Cairo, Egypt. The event, which took place on April 20, 2025, at Egypt’s Space City, marked the formal launch of AfSA’s operational activities and attracted key players in the global space industry including delegations from CubeSpace, Diginove, MatterIntelligence, Viasat, SpaceX, Hawkeye, and Nikkei. Dr. Adepoju, who…

Nigeria Customs Generates N1.75 Trillion in Q1 2025, Records 29.96% Revenue Growth – CG Adeniyi

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) has announced a total revenue generation of ₦1.75 trillion for the first quarter of 2025, reflecting a 29.96% increase compared to the same period in 2024. This milestone was disclosed by the Comptroller-General of Customs, Bashir Adewale Adeniyi, during a press briefing at the Service’s headquarters in Abuja on Monday, April 22, 2025. The revenue performance, which exceeded the quarterly target of ₦1.645 trillion by ₦106.5 billion, was attributed to the impact of ongoing reforms introduced by the current administration under President Bola Ahmed Tinubu…

CBEX PONZI SCHEME: Victims lost money due to lack of education about scam prevention tips – Rotimi Onadipe reveals

Emporium Reporters

The Publisher of Internet Safety Magazine and CEO of Stay Safe Online Academy Ltd, Rotimi Onadipe, has revealed that lack of education about scams and how to avoid them was a major reason why many Nigerians lost their hard-earned money to CBEX, the Ponzi Scheme which crashed few days ago.   Onadipe, a renowned advocate for online safety, made this known on Saturday while speaking during the 153rd edition of his training program, aimed at educating internet users about online safety and fraud prevention.   The theme of the training…

NCS deepens collaboration with Access Bank to enhance Trade Finance Integration

Lukman Laleye Babalola

In a bid to consolidate the gains of its newly deployed Unified Customs Management System (UCMS), codenamed B’odogwu, the Nigeria Customs Service (NCS) has intensified engagement with key financial stakeholders, including Access Bank, to strengthen trade finance integration and system-wide efficiency.   At a virtual meeting held on Monday, April 14, 2025, the NCS leadership, led by Deputy Comptroller-General of Customs in charge of ICT and Modernisation, Kikelomo Adeola, engaged top officials of Access Bank on aligning operational frameworks to support seamless financial transactions and digital trade facilitation.   Other…

Founder of Diamond Bank and Former MTN Nigeria Chairman, Pascal Dozie dies at 85

Emporium Reporters

Renowned Nigerian entrepreneur and banking pioneer, Pascal Gabriel Dozie, has passed away at the age of 85. A source close to the family confirmed that the respected founder of the defunct Diamond Bank Plc and former Chairman of MTN Nigeria died from an undisclosed ailment.   Dozie, widely regarded as one of Nigeria’s most accomplished businessmen and economic thinkers, left an indelible mark on the country’s financial and telecommunications landscape. His contributions spanned decades of innovation and leadership that helped shape Nigeria’s private sector.   Born on April 9, 1939,…

Senate Backs $500 Million Chinese Investment in Solid Minerals, Pledges Legislative Support

Emporium Reporters

By James Isaac, Abuja   The Nigerian Senate has assured a visiting Chinese delegation of full legislative support as they plan to invest $500 million in Nigeria’s solid minerals sector, marking a significant step in the country’s economic diversification efforts. The Senate Committee on Solid Minerals Development, on Friday, hosted the delegation led by Mr. Chen Twan of Zong Hong Kotai Group, who disclosed that their company is set to commence mining operations in Zamfara, Kebbi, and Nasarawa States.   Senator Onawo Mohammed Ogoshi (Nasarawa South), standing in for the…

Nigeria Customs set to expand B’Odogwu Platform, promises seamless rollout in Apapa, Tincan Commands

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) is set to expand its modernisation drive with the nationwide rollout of the B’Odogwu platform, following the successful pilot implementation at the Port Terminal Multi-services Limited (PTML) Area Command.   Comptroller General of Customs (CGC) Adewale Adeniyi disclosed this during a pre-launch high-level stakeholders’ engagement at the Apapa Area Command on Monday, March 3, 2025. He reaffirmed the service’s commitment to a seamless transition, despite initial challenges encountered during the pilot phase.   “We experienced some hitches during the PTML pilot rollout, but with your…

NCS, CBN partner to drive technology-based trade reforms …As Customs set to expand B’Odogwu platform nationwide

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) has intensified its collaboration with the Central Bank of Nigeria (CBN) to implement technology-driven trade reforms aimed at enhancing trade facilitation and boosting revenue generation. The Comptroller-General of Customs, Adewale Adeniyi, disclosed this during a courtesy visit to the CBN Governor, Olayemi Cardoso, on Thursday, February 27, 2025, in Abuja. Adeniyi explained that the partnership would support the full implementation of B’Odogwu, an indigenous trade facilitation platform developed by the NCS to replace the Nigerian Integrated Customs Information System (NICIS) II. According to him, the…

Ooni hosts Kazakhstan Delegation in Abuja, backs Tinubu’s Economic Reforms

Lukman Laleye Babalola

The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, on Sunday hosted a 30-man delegation from Kazakhstan, led by the country’s Deputy Minister of Foreign Affairs, Mr. Alibek Kuantyrov, at the maiden Nigeria-Kazakhstan Business Council International Conference held at Transcorp Hilton, Abuja. The Ooni, who chairs the Nigeria-Kazakhstan Business Council, commended President Bola Tinubu for his bold economic reforms, noted that the hardship experienced by Nigerians is gradually easing. He highlighted that, for the first time in two decades, the gap between the parallel and official exchange rates has been…