Economy
Onne Customs Generates N301bn, Seizes 39 Containers
By Bon Peters
The Onne, Area 11 Command of the Nigeria Customs Service (NCS) said it has so far generated N301 billion, representing 90 per cent of its revenue target for 2023.
The Command’s Area Controller, Comptroller Baba Imam, disclosed this to journalists Tuesday in Onne, Rivers State, during an end-of-year Recognition/Award of Excellence presentation to officers, consignees and stakeholders.
The recognition, according to Mr Imam, was “initiated to boost the morale of officers and other stakeholders who have positively contributed to the revenue growth and achievements of the command.”
The Comptroller also stated that the event became necessary to enable the command to reflect on its successes and achievements in the past months and to identify gaps to initiate mechanisms that would enhance business in 2024.
“Our revenue target for the year is about N336 billion and as of today, we have been able to secure N301 billion, representing about 90 per cent of our target,” he said.
On anti-smuggling, Mr Imam insisted that the command had taken steps that would continue to serve as a deterrent to offenders of import laws by ensuring that there was conformity to import guidelines.
He also revealed that about 39 containers which made up the total number of seizures have been recorded within the period under review.
On trade facilitation, he added that the command was committed and resolute to facilitating trade even as he applauded the robust synergy between customs and other sister government agencies at the ports insisting that every stakeholder was allowed to thrive.
He, however, stressed the importance of training and re-training of officers and consignees, which he insisted was a major boost to the year’s achievements.
The top officer of the agency noted that, “We have brought our officers to speed to meet targets. We have also trained our officers in different aspects of the job to enable them to perform optimally.”
On the seized items, Imam emphasized that, “Notably, amongst the nature of imported items which contravened import guidelines were, second-hand clothing, used tyres, concealment of hard drugs, pistols arms and ammunition among others which negate import and export guidelines which were subsequently handed over to relevant authorities.”
Mr Imam praised the officers and men of his command for achieving the great feat in revenue generation, especially in the second quarter of 2023, where he said over N38 billion was generated.
He described this as the first of its kind, noting that such a feat would not have been possible without the support and encouragement of the Comptroller General of Customs, Comptroller Adewale Adeniyi, and his management team.
Mr Imam used the occasion which was used to honour officers and men of the command who distinguished themselves in their various departments with awards of excellence.
Also speaking at the event, the chairman of the Association of Nigerian Licensed Customs Agents (ANLCA) Onne Seaport Chapter, Mr Mike Ebeatu, commended the Comptroller for providing an enabling business environment through consistent synergy and sensitisation of consignees and other stakeholders at the ports.
In his vote of thanks, DC Administration, Mr Ojike Iheanacho Ernest, thanked all that graced the occasion, pointing out that even with the economic situation in the country, the command was still meeting the target.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
