Nigeria Customs Service Highlights Innovations in Border Security for National Security

Nigeria Customs Service Highlights Innovations in Border Security for National Security

By Oluwakemi Kindness The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has once again brought global attention to the transformative role of NCS in safeguarding Nigeria’s borders. Speaking at the 18th Africa Security Watch Conference in Doha, Qatar, the CGC, represented by the National Public Relations Officer, Chief Superintendent of Customs Abdullahi Maiwada, shared a comprehensive account of the Service’s achievements in balancing security enforcement with trade facilitation. […]

December 15, 2024 23 3

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Economy

FG, States, LGCs Share N1.727trn For November 2024

By Oluwakemi Kindness The Federal Government, States and the Local Government Councils has shared a total sum of N 1.727 trillion, being November 2024. The revenue was shared at the December 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held in Abuja. The N1.727 trillion revenue comprised statutory revenue of N455.354 billion, Value Added Tax (VAT) revenue of N585.700 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.046 billion […]

December 14, 2024 20 16

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Economy

CBN Reiterates Validity of Old Series of Naira Denominations

By Oluwakemi Kindness The Central Bank of Nigeria (CBN) on Friday refuted misinformation regarding the validity of the old ₦1000, ₦500, and ₦200 banknotes currently in circulation. The apex Bank said in line with the it’s previous clarifications, it is reiterating that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the ₦1000, ₦500, and ₦200 denominations of the Naira indefinitely. […]

December 13, 2024 12 2

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Economy

Nigeria Customs Strengthens Partnership with IPMAN, NMDPRA to Combat Petroleum Smuggling

By Oluwakemi Kindness In the bid to address the illegal exportation of petroleum products from Nigeria, the Nigeria Customs Service (NCS), on Tuesday hosted the Independent Petroleum Marketers Association of Nigeria (IPMAN), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and Dangote Refineries at its Abuja headquarters. Comptroller-General of Customs, Adewale Adeniyi, was represented at the meeting by the Assistant Comptroller-General of Customs in charge of Enforcement, Inspection, […]

December 3, 2024 15 3

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Economy

PenCom Lifts Restriction On LPFAs Investing In Commercial Papers

By Oluwakemi Kindness The National Pension Commission (PenCom) has lifted restriction on Licensed Pension Fund Administrators (LPFAs) investing in commercial papers where capital market operators act as Issuing and Paying Agents (IPAs). PenCom announced the decision in a Circular issued on Tuesday and signed by the management of PenCom led by Omolola Oloworaran as Director-General. PenCom had in October 2024 directed all LPFAs to suspend further investment in commercial papers […]

December 3, 2024 17 13

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Economy

Customs Boss Orders Subsidised Sale of Smuggled PMS to Yola Residents

By Oluwakemi Kindness The Comptroller-General of Customs, Adewale Adeniyi, has authorised the sale of the seized PMS to Yola residents in Adamawa State at a subsidised rate, with proceeds remitted to the Federation Account. The sales follows the recent seizure of petroleum products by operatives of Operation Whirlwind in the Adamawa-Taraba region. The total seizure includes 1,124 jerrycans (25, 40, and 60 litres), 53 drums (200 litres each), and […]

November 28, 2024 14 2

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Economy

Banks, Others Raised Over N2.7tn From Capital Market, Says SEC

By Oluwakemi Kindness The Securities and Exchange Commission on Monday, revealed that over two point seven trillion naira has been raised in the capital market by banks and other companies so far in 2024 The figure, which includes equity capital, excludes the amount raised by funds managers in the capital market. This is as the Commission revealed that out of the two point seven trillion naira, about one point seven […]

November 25, 2024 17 2

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Economy

Senate Confirms Omolola Oloworaran as DG PenCom

By Oluwakemi Kindness The Senate has confirmed the appointment of Ms Omolola Oloworaran as the Director General of the National Pension Commission (PENCOM). The confirmation on Thursday followed the consideration and adoption of the Report of the Senate Committee on Establishment and Public Service at plenary. It would be recalled that President Bola Ahmed Tinubu had earlier requested the Senate to confirm the appointment. Omolola Oloworaran was appointed Director General, […]

November 21, 2024 25 5

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Economy

NNPCL Refutes Claims of Selling Adulterated Products

By Oluwakemi Kindness The Nigerian National Petroleum Company Limited (NNPC Ltd) on Thursday insisted that it does not deal with adulterated petrol. This is as the NNPCL discredited a video clip of someone pouring a dark liquid which he claims to be Premium Motor Spirit (PMS) purportedly bought from an NNPC Retail outlet at Keffi Flyover. NNPCL Chief Corporate Communications Officer, Olufemi Soneye, who stated this in a statement, […]

November 7, 2024 16 9