Business
Stakeholders Relaunch “NIMAREX” Africa’s Biggest Maritime Event
The Federal Government has also been advised to ensure implementation of decisions taken at NIMAREX 2024.
Stakeholders in the Nigerian Maritime industry have brought back their annual conference and exhibition, called Nigeria Maritime Expo Annual International Exhibition and Conference (NIMAREX) .
During the event held on Wednesday at the Radisson Blu Hotel in Lagos, the President , Nigeria Ship Owners Association of Nigeria and converner of Nimarex 2024 , Otunba Sola Adewunmi called for the government /private partnership , synergy and collaboration of all stakeholders to bring back NIMAREX which he described as Africa’s biggest maritime event.
“As we embark on this new chapter, it is crucial that we all recognise NIMAREX as our event — a true umbrella that brings together all maritime associations, fostering unity and cooperation across the entire industry.
This is not just an event . It is an event for every stakeholder in the maritime sector; together, we can make NIMAREX a rallying point where our shared interests are promoted, our challenges are addressed, and our future is shaped .
The Chairman, Ports Consultative Forum, Bolaji Sunmola also urge stakeholders at the meeting to ensure that 2024 Edition of NIMAREX gets the attention and commitment of all stakeholders and is inline with the key objectives of President Tinubu’s Administration on the creation of Marine and Blue Economy Ministry.
Other Participants at the inaugural meeting want NIMAREX 2024 to be a great opportunity to provide a viable structure and framework that will promote business and engineer development in the industry.
Participants at the inaugural meeting called for the set up of various committees amongst stakeholders to organise and ensure the success of the conference .
The Federal Government has also been advised to ensure implementation of decisions taken at NIMAREX 2024.
Effective implementation of decisions taken at NIMAREX stakeholders believe would ensure foreign and local networking, ensure foreign Direct investments and fast track development in the maritime sector.
The inaugural meeting of NIMAREX 2024 was attended by representatives of Ship Owners Association, National inland waterways Authority, Nigeria customs service, Nigeria Shippers council Nigeria ports consultative council, Representatives from the media, seafarers, Nigeria chamber of shipping, Nigeria Association of Master Mariners, Women in maritime of West and Central Africa, Association of Nigeria licensed customs Agents , chartered institute of logistics and Transport and other stakeholders in the maritime industry .
Business
We didn’t shutdown Tummy Tummy noodles factory – NAFDAC
In a statement released on Wednesday, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, clarified that the viral recording was not only misleading but also a recycled falsehood.
The National Agency for Food and Drug Administration and Control (NAFDAC) has issued a formal disclaimer concerning an audio recording circulating on social media.
The audio recording falsely claims the agency shut down the Tummy Tummy noodles manufacturing facility in Anambra State.
In a statement released on Wednesday, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, clarified that the viral recording was not only misleading but also a recycled falsehood.
According to her, the same audio first appeared in Oct. 2023 and was thoroughly investigated at the time.
“The claims made in the recording are entirely false.
“The Tummy Tummy noodles facility in Anambra State was not sealed,” she stated.
Business
Illicit Financial Flows Draining National Resources – Adedeji
He emphasized the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.
•Chairman of FIRS, Zacch Adedeji
On July 22, 2025, the Executive Chairman of FIRS, Zacch Adedeji, delivered the welcome address at the National Conference on Illicit Financial Flows in Abuja.
He emphasizied the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.
He cited the recent tax reforms as a major step forward and highlighted the following as key points in his welcome address:
* Illicit Financial Flows through tax evasion, profit shifting and money laundering are draining national resources and threatening fiscal stability.
- The recent signing of four tax reform bills marks a critical step toward transparency, system overhaul, and stronger institutions.
- FIRS is responding with a multi-dimensional strategy: promoting voluntary compliance, embracing digital intelligence and enhancing enforcement under the Proceeds of Crime Act.
- * A need for unified, data-driven, and globally coordinated action to close fiscal gaps and protect Nigeria’s economic future.
Business
Just in: CBN Retains July Interest Rate at 27.5% , Says 8 banks meet recapitalisation target
The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon.
The Central Bank of Nigeria (CBN) has maintained the July Monetary Policy Rate (MPR) of 27.5 percent with all policy parameters.
The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon.
Mr Cardoso explained that the asymmetric corridor was retained at +500/-100 basis points around the MPR, leaving the Cash Reserve Ratio at 50 per cent for Deposit Money Banks and a general Liquidity Ratio of 30 percent.
He said that the decision to maintain the current MPR was premised on the need to continue to ensure the ongoing inflation reduction while vigorously ensuring declining prices.
The CBN boss revealed that as of July 18, the nation’s foreign reserve stood at 40.1 billion, which could provide import cover of nine and a half months.
He also disclosed that eight banks had achieved the new recapitalisation requirements.
The governor said the monetary and fiscal authorities would continue to work together to reduce the nation’s inflation rate to a single digit.
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