Rising incidence of illicit trade in tobacco
There has been an explosion in global and cross border trade for some decades now. With this burst also comes the menace of illicit trade, otherwise known as the underground economy. As markets open and demand grows, people try to engage in illegitimate trade by producing, importing, exporting, purchasing or selling items without complying with…
Taming illicit trade to save economy, protect local manufacturers
Illicit trade, described as the production and distribution of consumer goods that fail to comply with governing rules, laws and regulations in the relevant industry, is a serious threat to the Nigerian economy and should no longer be allowed to thrive.
Forum urges government to tackle illicit trade
Participants at a business forum in Lagos have admonished the Federal Government to move against illicit trade to boost its revenue and protect local firms against unhealthy competition. At a roundtable to discuss factors responsible for illicit trade and the associated dangers, the stakeholders said effective steps should be taken to tackle the menace due…