The Nigerian Shippers' Council (NSC) has addressed recent allegations made by the Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) concerning an increase in charges at Onne Port by the West Africa Container Term… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigerian Shippers' Council responds to allegations of increased charges at Onne Port By sbinsights on April 1, 2025 The Nigerian Shippers' Council (NSC) has addressed recent allegations made by the Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) concerning an increase in charges at Onne Port by the West Africa Container Terminal (WACT). The Council has rejected these claims, describing them as misleading, and clarified that APFFLON's exclusion from relevant discussions was due to non-compliance with regulatory requirements. In an official statement, the NSC emphasized that the tariff adjustments implemented by WACT in 2021 and 2023 underwent comprehensive reviews and were approved after thorough assessments. These adjustments were aligned with industry standards and the prevailing economic conditions. The statement read, "The tariff increases by WACT were subject to rigorous evaluation by the Nigerian Shippers' Council, as part of our regulatory function as the economic overseer of the port sector. All approved adjustments were designed to ensure fairness to both service providers and port users." The Council further explained that WACT engaged in extensive consultations with registered clearing agents at Onne Port, including major freight forwarding associations such as the Association of Nigerian Licensed Customs Agents (ANLCA), the National Association of Government Approved Freight Forwarders (NAGAFF), and the Association of Registered Freight Forwarders of Nigeria (ARFFN). Read also Nigerian Shippers' Council responds to allegations of increased charges at Onne Port Nigeria introduces stringent penalties for prohibited investment schemes under new law NITDA partners Doballi to connect Nigerian tech talents with global jobs NSIA's profits soar to N1.86tn—What this means for Nigerian SMEs Minister calls for public-private collaboration to grow Nigeria's art industry  These discussions led to a mutual agreement that the tariff increase would be implemented in phases to minimize the impact on port users. "Following this agreement, WACT initiated the first phase of the tariff increase, which was accepted by the stakeholders. The final phase of the increase was scheduled after a one-month and two-week notice to ensure adequate preparation and transparency," the NSC added. Addressing the concerns raised by APFFLON, the NSC clarified that the association had failed to obtain the necessary introductory letter from the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), which is required for recognition as an official agent. As a result, APFFLON was not able to participate in the stakeholder consultations, a situation attributed to their own non-compliance with regulatory procedures, rather than intentional exclusion by WACT. The NSC reaffirmed its commitment to upholding fair practices and maintaining a competitive environment in the port sector. "We continue to support transparent operations and urge all stakeholders to engage constructively within the framework of established regulations to ensure efficient port operations," the Council concluded.

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The Nigerian government has announced harsh penalties for operators of prohibited investment schemes, including Ponzi schemes, under the newly signed Investments and Securities Act (ISA) 2025. The penalties include a minimum fine of ₦20 million, a 10-… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigeria introduces stringent penalties for prohibited investment schemes under new law By sbinsights on April 1, 2025 The Nigerian government has announced harsh penalties for operators of prohibited investment schemes, including Ponzi schemes, under the newly signed Investments and Securities Act (ISA) 2025. The penalties include a minimum fine of ₦20 million, a 10-year prison term, or both. This new law, which was recently assented to by President Bola Tinubu, aims to strengthen Nigeria's capital market regulations and enhance investor protection. The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, highlighted that the Act grants the SEC the legal authority to prosecute Ponzi scheme operators, addressing a gap in previous legislation that hindered the prosecution of offenders. Key highlights of the ISA 2025 The penalty of ₦20 million is only part of the sanctions and does not represent the full extent of the penalties for offenders. Profits or gains made through fraudulent schemes will be recovered to deter further criminal activity. Read also Nigeria introduces stringent penalties for prohibited investment schemes under new law NITDA partners Doballi to connect Nigerian tech talents with global jobs NSIA's profits soar to N1.86tn—What this means for Nigerian SMEs Minister calls for public-private collaboration to grow Nigeria's art industry  IMF flags rising sovereign debt risks in banking sector The new law seeks to align Nigeria's market operations with international best practices and ensure greater market integrity. The ISA 2025 replaces the Investments and Securities Act No. 29 of 2007, marking a significant reform in the country's financial sector. Dr. Agama emphasized that the SEC's role in protecting investors is central to the law's objectives, and the provisions under the ISA 2025 empower the SEC to act more decisively against fraudulent practices in Nigeria's financial markets.

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The National Information Technology Development Agency (NITDA) has partnered with Afrovision Technologies Limited (Doballi), a Dubai-based AI-driven recruitment platform, to boost global job placements for Nigerian tech talents.The collaboration aims to… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader NITDA partners Doballi to connect Nigerian tech talents with global jobs By sbinsights on April 1, 2025 The National Information Technology Development Agency (NITDA) has partnered with Afrovision Technologies Limited (Doballi), a Dubai-based AI-driven recruitment platform, to boost global job placements for Nigerian tech talents. The collaboration aims to bridge employment gaps for Nigerian professionals with high-demand digital skills by providing structured access to remote job opportunities worldwide. Key aspects of the partnership Under the Memorandum of Understanding (MoU): NITDA will supply a pipeline of trained and employable Nigerian tech professionals. Doballi will connect these professionals with international employers, waiving the $150 onboarding assessment fee for Nigerian applicants. Doballi will also offer certification guidance, cross-cultural training, and a specialised dashboard for tracking talent progress, employer feedback, and foreign currency transactions in Nigeria's banking system. Read also NITDA partners Doballi to connect Nigerian tech talents with global jobs NSIA's profits soar to N1.86tn—What this means for Nigerian SMEs Minister calls for public-private collaboration to grow Nigeria's art industry  IMF flags rising sovereign debt risks in banking sector Nigerians took N470bn personal loans in three months – CBN Stakeholders' reactions NITDA's Director-General, Kashifu Inuwa Abdullahi, described the partnership as a milestone for digital job sustainability, benefiting social and economic policy decision-making. Doballi's Country Director, Mrs. Nneoma Ijei, expressed optimism, stating that Africa—led by Nigeria's young and innovative workforce—is poised to shape the future of global technology. What this means for small businesses and tech professionals This initiative complements Nigeria's broader efforts to enhance tech skills and job opportunities, such as: 3 Million Technical Talent (3MTT) initiative, training three million Nigerians in digital skills by 2027. Integration of AI, blockchain, and cybersecurity into university curricula through NITDA-NUC collaboration. National Skills Framework, aligning education with industry needs to ensure graduates acquire globally relevant expertise. For Nigerian small businesses and tech professionals, this collaboration opens doors to global job markets, fostering innovation, foreign investment, and economic growth.

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