Trade War: Canada, Mexico, China Set to Retaliate Trump's Sweeping Tariffs
Emmanuel Addeh in Abuja
Canada, Mexico and China have vowed to respond to sweeping new tariffs to their exports to
the United States announced by President Donald Trump. Trump said a levy of 25 per cent on Canadian and Mexican imports as well as an additional 10 per cent
tax on Chinese goods would come into force on Tuesday. The US president said the move was in response to his concerns about illegal immigration and
drug trafficking – two of the main promises on which he was elected, BBC reported yesterday. In response, both Canada and Mexico said they were preparing
similar tariffs on US goods, while China added it would take "necessary countermeasures to defend its legitimate rights and interests".
The implementation of tariffs and the subsequent retaliation could mark the start of a new Continued on page 5
2025 Grammy Awards: Tems Wins Best African Music Performance... Page 8
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FG Alerts Nigerians, Activates Emergency Measures Following Ebola Outbreak in Uganda... Page 5
First Bank Admits Defeat in Mareva Case, Seeks Appeal Without Due Process, GHL Sees Desperation Emmanuel Addeh in Abuja
First Bank of Nigeria (FBN) has finally admitted defeat in the Mareva Case between it and
General Hydrocarbons Limited (GHL), and has begun seeking appeal in a desperate attempt to overturn the ruling by Honourable Justice Deinde Dipeolu of the
Federal High Court, Lagos. In a statement yesterday First Bank acknowledged recent media reports suggesting that some banks had begun complying with the
ruling of Justice Dipeolu’s order which lifted the Mareva order placed on GHL, its directors, and shareholders. However, it said such action
was premature, as the necessary steps for banks and stakeholders to comply with the court's decision had not yet been completed. Notwithstanding the above, First
Bank says it has appealed against the discharge of the Mareva Order and applied for an injunction and/
Continued on page 5
Court Stops Customs from Collecting Excise Duty on Non-alcoholic Carbonated Beverage Declares ministry of finance circular null and void Stops Customs from collecting transport, feeding allowance from NECA
Dike Onwuamaeze Justice Obiora Egwuatu of the Federal High Court, Abuja, has ruled that the Nigeria Customs Service (NCS) should stop the collection of excise duty on non-alcoholic carbonated sweetened beverage from members of the Nigeria Employers’ Consultative Association (NECA). The NECA members included Nigeria Bottling Company Limited (NBC) and Seven-Up Bottling Company Limited (SBC).
According to the court, the ruling barring NCS from collecting the excise duty would be in force pending when the provisions of Section 13 of the Customs, Excise Tariff, etc. (Consolidation) Act, Cap C49 LFN are complied with. Egwuatu gave the order in a judgement he delivered in Suit No: FHC/ABJ/ CS/2004/2022 on January 30, in a case between NECA, NBC and SBC, as first, second, and third plaintiffs, respectively, Continued on page 5
Oando Releases 2024 Financial Result, Grows Revenue to N4.1tn...
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SOLID MINERALS ON THEIR MINDS...
L-R: Nasarawa State Governor Engr. Abdullahi Sule; Minister of Solid Minerals, Mr. Dele Alake; and the Minister of Defence, Alhaji Mohammed Badaru Abubakar, after meeting with the Minister of Solid Minerals on developments in Nasarawa State last Friday