Business
Illeila land border still shut despite FG reopening order
Five days after the Federal Government announced the immediate reopening of four land borders across the country, authorities of the Illeila border have failed to comply with such order as they continue to differ on when the border will be reopened.
The two major agents of government whose duties include the monitoring of the border, Customs and Immigration, cannot exactly say when the border will be reopened for use.
Our correspondent who went to the border post on Sunday confirmed that human and vehicular activities were yet resume fully at the border.
The visit was a follow up to the earlier visit of last Thursday. The visit was to confirm the level of activities both at the border and the International Cattle Market in Illeila.
A senior Custom official who spoke with our correspondent on condition of anonymity said the command iwa yet to receive a signal on when the border post should reopen.
He reaffirmed that officers of Nigerian Customs Service (NCS), Illeila Border Command were ready to comply with the directive of its parent command in Sokoto.
He said any further arrangement or time of the border reopening should be directed to the state command for proper confirmation.
The Public Relations Officer of Customs, Sokoto State Command, Balarabe, was not available for comments as of the time of filing this report.
The Nigerian Immigration Service at the Illeila border command confirmed its readiness to resume work.
One of its officils who spoke with Nigerian Tribune on Sunday confirmed that a circular had been sent to them from their state headquarters in Sokoto to reopen the border.
He said the officers and men of Nigerian Immigration had resumed their duties in compliance with the circular.
The officer who did not want his name mentioned as he was not authorised to speak with the journalists said the command had started attending to travellers with valid documents.
“Our men have started attending to people with genuine documents to move in and out of the country in accordance with the directive.
The only issue we have now is we cannot attend to people with luggage or goods as that is not part of our responsibility.
“The reason why this place looks quiet is because as a result of no vehicular movement which is not part of our duty but that of customs,” he added
But traders in the town have commended the government for listening to the cries of ordinary citizens by reopening the border.
Speaking with Nigerian Tribune, Mallam Zubairu, the chairman of cattle sellers at the Illeila International Market commended the decision of the federal executive council.
He said the reopening of the border would no doubt contribute to the economic advancement of not only the residents of the state but also that of the country.
While assuring the federal and the state government that his men would continue to cooperate with relevant security agencies in the area to avoid the breach of security.
The chairman called on Sokoto State government to come to the aid of the traders by fencing the environment where the market is located.
He said if well fenced, the security situation in the area would improve and more revenue would be generated by the state government.
-Tribune
Railway
Lagos Rail Mass Transit part of FG free train ride – NRC
Lagos Rail Mass Transit part of FG free train ride – NRC
The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.
The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).
This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.
While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.
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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.
“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.
Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.
He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.
Lagos Rail Mass Transit part of FG free train ride – NRC
Business
NNPC denies claim of Port Harcourt refinery shutdown
NNPC denies claim of Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.
The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.
Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.
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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”
He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”
NNPC denies claim of Port Harcourt refinery shutdown
Business
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.
The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.
The arrangement will be in effect from December 19, 2024, to January 30, 2025.
Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.
Transactions to occur at the prevailing NFEM rate
The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.
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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.
The circular read in part:
“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).
This window will be open between December 19, 2024 to January 30, 2025.
“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”
The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”
These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.
This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
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