Business
Nigeria Customs to deploy drones in Seme border
The Nigeria Customs Service has said it will soon deploy drones in Seme for effective patrol in checking smuggling activities in the border area.
The NCS Zone A Coordinator, Modupe Aremu, an Assistant Comptroller General of Customs, disclosed this during a working visit to Seme Border Area Command on Monday.
According to her, border management surveillance will be done electronically through the use of drones to ensure that there will be an area overview of what is happening.
“Seme command visit is the end of my tour in Zone A and I must commend all the commands, they account for over 80 per cent revenue collection by the NCS and so they should keep up the good work.
“With the tour of all commands, I have seen that all the officers are doing well but they can still do better. And I am telling them that they should be expecting impromptu visits from the Zonal Coordinator, so they should not relax on the job.
“Also, e-customs’ N300 billion contract that is end-to-end automation that is about to kick-off is about Information and Communication Technology connectivity; when it comes on board, we are going to have electronic signature, drones patrolling the border,” she said.
She noted that the service was trying to minimize person to person contact to reduce human interaction and make the work faster and more efficient.
Aremu expressed satisfaction with the joint border post buildings that was commissioned on Oct. 23, 2018, noting that it ushered in an era of coordinated border management.
“This is one-stop-shop and from what the comptroller has shown me, it is what is practiced abroad; this is really commendable that what we see when we travel, we have it here in Nigeria,” she said.
She urged Seme Customs to keep abreast of all the Economic Community of West African States, ECOWAS, protocols in order to understand what was happening.
On enforcement activities, she urged the command to keep pushing as the nation at this point in time needed the service to properly secure its borders.
She was optimistic that the scanner at the border would start functioning to help simplify processes as much as possible.
She urged the command to ensure proper compilation of case files and prosecution of arrested suspects to show the seriousness of the service in fighting smuggling.
Earlier, Seme Customs Comptroller, Bello Jibo, noted that enforcement activities were not affected by the border closure as the command made remarkable interception of 1244 suspected smuggled goods with a duty paid value of over N856 million.
He noted that despite unfriendly economic policies imposed on goods transiting through Benin Republic, the command was able to collect about N719 million as revenue and processed export volume of 635,149.23 metric tons with free on board value of N15.5 billion.
Jibo said, “The command has a very good understanding with host community and in cementing this relationship, the command built and handed over a modern toilet facility to the Badagry West Development Area and partnered with an NGO to equip the Badagry United Football Club.
“Some projects undergoing work or completed in the command are 16 classrooms for primary school, construction of 30-man rank and file quarters and others.
“The challenges faced has to do with ICT interconnectivity at the Joint Border Patrol, signing of bilateral agreement, connection of the barracks to the national grid and inadequate junior staff.”
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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