Customs: Fear Grip Officers Over Sack

Investigators from the Customs  Headquarters  storm Lagos to fish out officers who aid and abet agents who take delivery of their  clients’ Containers in Contravention of  government fiscal policy By Stephen Ubanna It is no longer news that Containers dully released and exited from the seaports, pallets from Airports, or truck laden goods from the border stations in the south west geo-political region fall into the waiting hands of Federal Operations Unit, FOU, Zone A,Ikeja, personnel. But what is making the news now is that heads may roll  at the…

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Maritime Leaders Fete At NIMPORT 2017

By Bayo Bernard Staunch stakeholders in the maritime sector of Nigerian economy will gather between August 22 and 24 at the Oriental Hotel Victoria Island, Lagos for the annual international conference and exhibition of the Nigerian International Maritime Ports and Terminals (NIMPORT) conference. Chairman of NIMPORT, Fortune Idu, in a press statement disclosed that the theme of this year’s conference is “Improving Connectivity,Enhancing Trade” and it is aimed at “bringing together all maritime industry leaders to network and discuss on pressing issues relating to global maritime trade,port and logistic development…

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Corruption: Buhari’s Government takes the Oscar

Former president Goodluck Jonathan seem to have been vindicated by the National Bureau of Statistics recently when they released figures indicating that Over N400 billion was paid out to public officials as bribes in Nigeria between June 2015 and May 2016. The report said that bribes taken by Judicial officers and law enforcement agents. Jonathan, in a statement during the non-elective convention of the peoples democratic Party, PDP, alleged that more corruption going on in Nigeria now than during his own administration. The statement immediately became mired in controversy, with…

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Customs: E-Auction Lucky Winners

The e -auction policy of the Nigeria Customs Service produce winners who would want the Service to continue with it for transparency  as obtained in Europe and the United States where there are many auction sites By Stephen Ubanna For years there had been pressure on the Management of the Nigeria Customs Service, NCS,to change to the e-auction policy to sell  seized and condemned vehicles by the law Court  including  overtime cargoes. The proponents of the policy consider it transparent as it  gives equal opportunities to Nigerians to bid. they…

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Powerless Regulator

By Shedrack Ifurueze For the Department of Petroleum Resources, DPR, the recent threat action by this arm of the Nigerian National Petroleum Corporation, NNPC to delist marketers of petroleum products, particularly fuel, oil and gas that engage in sharp practices is a welcome development. For the umpteenth and first time, this ‘toothless bulldog’ agency of the government read what stakeholders and analysts regard as the riot act to the marketers. DPR, the magazine’s investigation confirms that the agency had in different fora during the heat of the May 2015 fuel…

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Economy: Not Yet Uhuru

As the expectations and promises of May 29, 2015; when President Mohammadu Buhari was sworn in as President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria have significantly slowed down with most Nigerians now ghosts of themselves. No thanks to what concerned Nigerians consider as the many failed promises of the ruling All Progressive Congress, APC. By Shedrack Ifurueze An air of obvious expectations for a better Nigeria of our vision was infectious with the APC as opposition then promising Nigerians illusive better life after 16…

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Deadly Fumes

By Oji Odu Nigeria’s power sector has continued to record further losses. Electricity generation recently crashed by about1,835.6 megawatts (mw), as the increased use of electricity generators continue to record pathetic tragedies due to suffocation by fumes. After achieving 4,282.6mw on August 2, 2017, power generation dropped by 1,835.6mw to as low as 2,447mw on August 5, according to the latest data on the performance of the grid. Power generation has continued to fluctuate for several months now, as operators blame the development on gas and frequency constraints. The Transmission…

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More Troubles For Importers

By Stephen Ubanna The  Independent Corrupt Practices Commission, ICPC throws weight behind the Anti-Corruption Unit of the Nigeria Customs Service , NCS, to rid the ports of desperate importers and agents who shortchange the government As a prelude to fighting the desperate importers with their agents, the Customs anti-Corruption Unit with the backing of the ICPC has released  fliers which are pasted at strategic locations at the ports. The  Magazine sighted one of the posters at the Tin-can Island port which specifically spelt out the clearing rules. The Customs anti-Corruption…

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Who Buys 9mobile?

By Oji Odu As the newly rebranded 9mobile, Nigeria’s fourth largest telecommunications firm with over 20 million subscribers, some of who are at crossroads on remaining on the network, continue to find ways of resolving its myriad problems and put the company on a sound footing, the race to buy the company has continued to increase. This followed the December date to know the preferred buyer according to the Nigerian Communications Commission (NCC). In line with this, Chief Executive Officer (CEO) 9mobile, Boye Olusanya, has asked the telecoms regulator for…

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Electricity: SERAP Says N11 Trillion Was Squandered Under Obasanjo, Yar’Adua And Jonathan

At least N11tn meant for the provision of adequate electricity for Nigerians was squandered under ex-presidents  Olusegun Obasanjo, Umaru Musa Yar’Adua and Goodluck Jonathan, a report alleged on Wednesday. The report released by Socio-Economic Rights and Accountability Project at the Westown Hotels, Lagos on Wednesday also estimated that the “financial loss to Nigeria from corruption in the electricity sector” may further reach N20tn in the next 10 years. It said, “The total estimated financial loss to Nigeria from corruption in the electricity sector starting from the return to democracy in 1999…

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Importation: Insurers Lose N6 billion To Fake Cargo Insurance Racketeers

By  Shedrack Ifurueze Since the nation’s economy continue to be fueled by importation, industry is losing a whooping N6 billion on a yearly basis to fake cargo insurance racketeers. They operate at seaports and major centres where shipping activities are carried out, especially in Apapa and its environs in Lagos State. Findings show that about 300,000 cargoes, of the 1.1million cargoes berthing at the country’s seaports annually, parade fake insurance certificates. Though, there is no fixed premium for marine cargo insurance, as the price is determined by some factors, mainly…

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ANLCA Exposes N3.2B Fraud in CRFFN

By Bayo Bernard Registrar and chief executive officer of the Council for the Regulation of Freight Forwarders in Nigeria, Sir Mike Jukwe will be shocked over latest revelation of allege gross mismanagement of funds belonging to the Council. A group, the Association of Nigerian Licensed Customs Agents, ANLCA has alleged that the council under the watchful eyes of the council boss mismanage over N3 billion, being funds allocated to the CRFFN by the federal government in the last two years. The Association has therefore demanded a probe of the finances…

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Year of Boom Over, As Customs Smoke Out Smugglers

By Stephen Ubanna Barely one year after Nigeria experienced a boom in the export of Agricultural products to the United States and the United Kingdom, there appears to be a lull as many exporters had been forced out of the business due to pecunia interests. . This is evident going by the scanty number of Agricultural products export bound Containers that were shipped out from Tin-can Island port last month. The situation was so bad that maritime analysts fear that President Muhammadu Buhari hopes of boosting the yearly revenue of…

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FG Splashes N6B on Peugeot

By Bayo Bernard After years of almost redundancy Peugeot Automobile Nigeria Limited has got a new lifeline as Nigeria’s major automaker, after the federal government purchased 360 vehicles from the vehicle manufacturer. The development came after the Kaduna based vehicle maker was made richer to the tune of over N6billion by the Buhari administration. The firm was contracted to supply 360 Peugeot 506 to Nigeria’s House of Representatives members. The automobile company has already delivered 200 state of art vehicles to the lawmakers.  According to analysts, the automaker has benefited…

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BRT’s Fare Abracadabra

By Oji Odu About five months after the kick-off of Bus Rapid Transport (BRT) new fare regime which increased the fares to between 42-53 percent, the Lagos state-owned transport outfit has, again, effected a new transport fare regime, this time by about 25 percent. Was it because of the outcry by the public which accused the operators as being anti-people with their policies that do not have human face, or was it because of their loss of patronage by the people? Speaking on the new development, Managing Director of Primero …

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Court Orders Permanent Forfeiture of Diezani’s Mansion

The Federal High Court in Lagos has ordered that a $37.5m mansion on Banana Island, Lagos linked to a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, be permanently forfeited to the Federal Government. The court also ordered that the sums of sums of $2,740,197.96 and N84,537,840.70 realised as rents on the property should equally be forfeited to the Federal Government. The orders were made on Monday by Justice Chuka Obiozor, following a motion on notice argued before him by the Economic and Financial Crimes Commission. The anti-graft agency had…

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TSA: Suffocating Businesses

By Shedrack Ifurueze For many years, the Federal Government lost much revenue to frauds due to different accounts being operated by the government MDAs which ordinarily should have been used to effectively execute most of its developmental projects. However, disturbed by this development and the need for transparency and accountability, as well as block financial leakages where government revenue are being passed into private accounts. TSA is a public accounting system under which all government revenue receipts, income as well as payments are collected into a single account which is…

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Seizures: Agents Storm FOU

By Stephen Ubanna Worried at the rate which Federal Operation Unit, FOU, Zone A, of the Nigeria Customs Service impound Containerized cargoes and trucks released from the ports, Bonded terminals and land border stations  in Lagos and Ogun states, officials of the National Association of Government Approved Freight Forwarders, NAGAFF,  last Wednesday, August 2, were at the  Command  to rub minds with Mohammed Garba, the Comptroller to seek for a soft landing. The NAGAFF team was led to the negotiation table by Boniface Anniebonam , the founder of the negotiation…

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N400B Debt: Senate Probes Atiku’s Intels

By Bayo Bernard Integrated Logistics Services Nigeria Limited, INTELS is one of the firms to be grilled by the Senator Hope Uzodinma joint Committee on Customs and Maritime investigating infractions on revenue accruing to the federal government from the seaports. The committee had recently alleged that the Nigerian Customs Service, NSC a la Nigerian Ports Authority, NPA failed to remit over N30 trillion to the federal government. As part of the ongoing probe the committee Tuesday directed 60 companies to appear before it. Senator Uzodinma said the companies should be…

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Customs: Tightening The Noose Against Contraband Importers

By Stephen Ubanna For years, there had been rumour making the rounds that SCOA, a Bonded terminal  was a haven for contraband cargo importers. The large expanse  at Kirikiri was said to have been used by SCOA, a multinational Company, for its trading business in Nigeria. The country was however ,forced  pull out of Nigeria because of the harsh economic situation. The withdrawal of its business interest in the country created an opportunity for SDV , a multinational shipping Company which is known to shipping thousands of Containerised cargoes into…

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