Apapa Customs Grows Revenue 29.8% to N790.6bn in Nine Months

Image

By Adedapo Adesanya

The Nigeria Customs Service (NCS), Apapa Area Command, has generated N790.6 billion between January and September 2022.

This was disclosed by Comptroller Malanta Yusuf, the command’s Area Controller in Lagos, noting that this represents a 29.8 per cent increment when compared with N609 billion collected in the corresponding period of 2021

“This remarkable achievement was made possible because of our officers’ tireless commitment to ensuring that all revenue leakages are being mitigated.

“This is as well as sustaining the level of compliance by the importers/stakeholders in the clearance value chain,” he said.

On anti-smuggling, Mr Yusuf noted that anti-smuggling activities had been one of the command’s focal points, especially with the activities of some unrepentant traders who are always looking for avenues to undermine our system.

He said that the command had fortified its forensic manifest management to monitor and detect fraudulent transactions through audit trail to ensure that illicit trade is being tracked before the declarations are lodged.

“Furthermore, the enforcement unit has been reinforced through improved collaboration and sharing of credible intelligence with relevant government agencies to suppress smuggling activities to its barest minimum.

“For the period under review, the command recorded 145 seizures of various items with a duty paid value (DPV) of N12,496,672,122.

“The seized items include unregistered medicaments such as tramadol and codeine, processed/unprocessed wood, used clothing, ladies men’s footwear, foreign parboiled rice, tomato paste, vegetable oil and other sundry items that fall under import/export prohibition list,” he said.

Mr Yusuf said that these importations were in clear breach of sections 46 and 47 of the Customs and Excise Management Act, CEMA CAP C45 LFN 2004.

“Let me reemphasise that Apapa Command is continuously ready to assist in facilitating legitimate trade.

“The command will ensure that all forms of smuggling activities through a false declaration on import/export done in defiance to extant trade guidelines will be detected through its layers of control mechanism,” he said.

He said that the command had made a tremendous increase as regards export in terms of tonnage and value.

Mr Yusuf said that it recorded about N181 billion value of export and 160 million tonnes of various items of export.

He urged stakeholders to collaborate with the command, ensure that items on the import/export prohibition list are strictly adhered to, and embrace the emerging realities of customs examination through a non-intrusive inspection (NII) regime.

“The non-intrusive inspection regime is geared toward increasing cargo inspection volume, protecting national security, saving cost/clearing time, and storing reliable data and images for reference purposes.

“It helps in reducing human contact in the examination of containerised cargo,” he said.

On the installed scanners, he said that the command had resolved the issue of how many containers shipping companies would bring per day, having requested for at least 150 containers, but shipping companies agreed on 100 containers.

“For the suspect one, we promised to do a recheck of 30 containers per day, and it was accepted and subject to improvement as the system is being fine-tuned.

“Initially, we were having a downtime of about 30 minutes gap for bringing containers to the scanning area and back to the stacking area, but now we have 15 minutes downtime.

“For the backlog, we work Saturday and Sunday to clear it before next week starts,” he said.

Share
Related Stories
Image
02-October-2023

Exploring The Capabilities Of The ChatGPT Trading Bot In Today’s Market

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

Image
29-September-2023

Demand And Supply Zone Trading: A Comprehensive Overview From Experts

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

Image
29-September-2023

Erisco Product Reviewer Fights Back, Threatens 500m Suit

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

Image
29-September-2023

Delisting: Capital Hotels Opens Escrow Account to Pay Off Minority Investors

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

More Stories
Image
01-September-2016

SON Allots Code To 15 Agricultural Products

By Dipo Olowookere The Standard Organisation of Nigeria (SON) has developed codes of practice for some Nigerian non-oil commodities to shore up export of the products. This, it said, was part of its determination to promote the economic diversification agenda of the present administration. At the National Congress of the Nigerian Association of Small Scale Industrialists (NASSI) held in Abuja on Tuesday, SON’s Acting Director General, Dr Paul Angya, disclosed that since January 2016, it has “identified about 15 priority agricultural products for which it has developed standards and codes of practice to enable our farmers and dealers in commodities

Image
24-August-2017

Kwara Gives Details of August Allocation

By Modupe Gbadeyanka The administration of Governor Abdulfatah Ahmed of Kwara State has released details of its federal allocation figures for the month of August 2017. Commissioner for Finance in the state, Mr Demola Banu, in a statement issued on Tuesday evening, disclosed that the state government received N2.54 billion as allocation for month of August in contrast to N3.7 billion received last month. Mr Banu further disclosed that the sum was made up of a statutory allocation of N1.8 billion and Value Added Tax (VAT) of N762 million. The Commissioner also announced that the 16 local governments (LGs) in

Image
10-August-2018

9mobile in Fresh Trouble, Dragged to Court over N4.56b Debt

By Dipo Olowookere Just when embattled telecommunications giant, 9mobile, is battling hard to get a new investor to take over the company because of its $1.2 billion syndicated loan saga, another trouble is rearing its ugly head. The firm is currently in a legal tussle over an alleged debt of N4.56 billion in statutory contributions to the Industrial Training Fund (ITF). According to reports, the crisis-ridden company formerly known as Etisalat is accused of skimping on its statutory contributions between 2011 and 2015 which, according to the calculations of the ITF, amounts to N4.56 billion. The tech giant is however

Image
09-April-2021

Jumia, Others Float e-Commerce Sectoral Group Under LCCI

By Modupe Gbadeyanka An e-commerce sectoral group has been inaugurated under the banners of the Lagos Chamber of Commerce and Industry (LCCI) by Jumia and other e-commerce players within the Nigerian tech ecosystem. This move by the e-commerce players will support the development of private enterprises in various sectors of the Nigerian economy by exposing their products to a larger market, a statement disclosed. At the inauguration, Jumia Nigeria Chairwoman and Head of Institutional Affairs at Jumia Group, Ms Juliet Anammah, was appointed the first Chairman of the new group. Ms Anammah, who served as CEO of Jumia Nigeria between

Image
10-March-2021

Konga Opens New Store in Owerri Thursday

By Ahmed Rahma Nigeria’s foremost omnichannel e-commerce giant, Konga, is set to expand its retail footprint in Owerri, Imo state. The new facility, located at the popular Kez Plaza, Douglas Road, Owerri, will begin operations on Thursday, March 11, 2021, and to celebrate it, the company is offering shoppers a number of mouth-watering deals. The management of Konga further said the deals would end on Saturday, March 13, 2021, to enable more potential shoppers to take advantage of the special discounts and incentives put together to herald the launch of the new store. Ahead of the launch, Konga says it

Image
08-September-2021

NNPC Gets DPR Support to Strengthen Energy Sector

By Adedapo Adesanya The Department of Petroleum Resources (DPR) has pledged to support the Nigerian National Petroleum Corporation (NNPC) to deliver value to Nigerians in the energy sector. The Director/Chief Executive Officer of the DPR, Mr Sarki Auwalu, gave this assurance when a delegation of the NNPC management team led by the Group Managing Director, Mr Mele Kyari, visited his office in Abuja on Tuesday. The DPR chief said that as a regulator, it does not stand to look for faults, rather, it helps operators to deliver on business mandates to boost economic activities. “Being a regulator is trying to

Image
02-November-2017

Ambode Okays Folashade Adesoye as New Head of Service

By Dipo Olowookere The appointment of Mrs Folasade Sidikatu Adesoye as the 20th Head of Service (HoS) of Lagos State has been confirmed by Governor Akinwunmi Ambode. A statement signed on Thursday by the Chief Press Secretary to the Governor, Mr Habib Aruna, disclosed that the appointment of Mrs Adesoye takes effect on November 11, 2017. Mr Aruna said the appointment of Mrs Adesoye follows the statutory retirement of the outgoing HOS, Mrs Olabowale Ademola on November 10, 2017. The new HOS was first appointed into the Lagos State Civil Service on December 28, 1983 as an Accountant and has

Image
30-November-2016

Guinness Nigeria Begins Local Production Of Spirits

By Dipo Olowookere In a move aimed at reducing the import dependent profile of the Nigerian economy, creating more jobs and boosting the local sourcing of raw materials, leading manufacturer and Nigeria’s only total alcohol beverage company, Guinness Nigeria Plc, has commissioned a new production line that will support the local manufacturing of some of its spirits brands in Nigeria. Some of the brands to be manufactured locally include Smirnoff X1 intense chocolate vodka, Smirnoff Extra Smooth Vodka, Gordon’s Dry Gin, Moringa Citrus Blend, McDowell’s No. 1 Reserved Whisky, McDowell’s VSOP and Royal Challenge Finest Premium Whisky. The production line,

Ad
Ad
Recent Stories
Image
03-October-2023

September PMI: Nigeria’s Business Activity Improves

By Modupe Gbadeyanka Nigeria’s business activity improved in September despite cost pressures limiting demand, according to the latest Purchasing Managers’ Index (PMI) released by Stanbic IBTC Bank Plc. The lender said in the period under review, the private sector had a reading of 51.1 points compared with the 50.2 points achieved in August 2023. It was the rise in business activity in the country was influenced by the growth in order, though the rates of expansion in each were only modest. New orders increased for the sixth month running in September as some firms signalled an improvement in demand. While

Image
03-October-2023

Agostini, Two Others Win 2023 Nobel Prize in Physics for Attosecond Pulses

By Adedapo Adesanya Three scientists will share the Nobel Prize in Physics as the Royal Swedish Academy of Sciences recognised Pierre Agostini, Ferenc Krausz and Anne L’Huillier as this year’s recipients for experimental methods that generate attosecond pulses of light for the study of electron dynamics in matter. The three Nobel Laureates in Physics 2023 were recognised for their experiments, which have given humanity new tools for exploring the world of electrons inside atoms and molecules. BREAKING NEWSThe Royal Swedish Academy of Sciences has decided to award the 2023 #NobelPrize in Physics to Pierre Agostini, Ferenc Krausz and Anne L’Huillier

Image
03-October-2023

Nigeria Targets 22% ICT Contribution to GDP by 2027

By Adedapo Adesanya Nigeria plans to increase the net contribution of the telecommunications sector to the gross domestic product (GDP) by 22 per cent by the end of 2027. This is part of efforts announced by the Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, in the ministry’s 31-page Strategic Blueprint document titled Accelerating our Collective Prosperity through Technical Efficiency, seen by Business Post. In the document, the ministry noted that “As telecommunications continues to evolve in line with new technology and associated opportunities, it is critical to revamp our national approach to account for changing imperatives and

Image
03-October-2023

Union Bank, Fate Foundation Empower SMEs in Nigeria

By Modupe Gbadeyanka Small and Medium Enterprises (SMEs) in Nigeria recently had the opportunity to gain more knowledge on how to scale their operations at a training organised by the Fate Foundation Alumni Conference. The event, in its 8th edition, was bankrolled by one of the leading financial institutions in the country, Union Bank of Nigeria Plc. It was gathered that at the programme, participants, including chief executive officers of major businesses, SME and MSME owners, exhibitors, and Fate Foundation Alumni shared knowledge on crucial topical subjects essential for entrepreneurial growth and success from seasoned entrepreneurial leaders and influencers. At

Image
03-October-2023

Stock Market Witnesses N30.379 billion Transactions in Four Days

By Dipo Olowookere Transactions worth N30.379 billion were recorded at the Nigerian Exchange (NGX) Limited last week, which had four trading sessions due to the public holiday observed last Wednesday for Eid-el Maulud. Data obtained by Business Post showed that the stock market posted these trades from the sale of 3.911 billion shares in 38,536 deals. When compared with the preceding week, which had five trading days, the value of transactions weakened by 36.00 per cent, as investors bought and sold 2.933 billion shares valued at N47.449 billion in 44,654 deals. A breakdown indicated that the financial services industry led

Image
03-October-2023

Schneider Electric Shares Insights on Improving Customer Satisfaction

In recognition of Customer Service Week 2023 (October 2 – 6), Schneider Electric shares valuable insights on improving customer satisfaction. Ajibola Akindele, Country President, Schneider Electric, West Africa, shares strategies and insights on how Schneider Electric has built long-lasting customer relations over the years through customer satisfaction. How would you describe Customer Service? The heart of Schneider Electric is its customer service. It represents our guiding principles and is essential to how we conduct business every day. At Schneider Electric, we consider providing exceptional customer service to be more than just a department, but rather a part of who we

Image
03-October-2023

NDIC Begins Payment of N16.18bn to Depositors of 20 Failed Banks

By Adedapo Adesanya The Nigeria Deposit Insurance Corporation (NDIC) has disclosed playing N16.18 billion in liquidation dividends to depositors, creditors, and stakeholders of 20 banks in liquidation. According to a statement from the corporation’s Director of Communication and Public Affairs, Mr Bashir Nuhu, this follows impressive recoveries from debtors and the realisation of assets of banks in liquidation. As a result, the NDIC, which is responsible for protecting depositors and guaranteeing the settlement of insured funds when a deposit-taking financial institution can no longer repay their deposits, said it had commenced verification and payment of stakeholders covered by the declarations

Image
03-October-2023

NASD Index Rises 0.83% in Week 39

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed Week 39 mixed as the unlisted securities index rose by 0.83 per cent, while the market capitalisation depreciated by 2.63 per cent after VFD Group Plc finally delisted after three years of trading on the platform. According to data from the bourse, the NASD index went up by 6.70 points to 815.65 points from 808.95 points, while the value of the exchange shrank by N30 billion to N1.110 trillion from N1.140 trillion. In the week, Nipco Plc improved its value by 9.8 per cent to close at N95.00 per share

Image
03-October-2023

Norwegian Start-up Invests $13m in WATT Renewable

By Aduragbemi Omiyale A Norwegian start-up, Empower New Energy, has injected about $13 million into a Nigerian hybrid solar solutions provider, WATT Renewable Corporation, to reduce the country’s carbon footprint through innovative technologies. A statement from WATT said the funds would be used to improve the renewable energy portfolio, adding an impressive 8MW of installed generating capacity and 14.3MWh of storage capacity through end-to-end services and operation of towers in Nigeria. The firm stated that this is set to make a substantial impact on the availability and reliability of clean energy in the region and reduce the consumption of diesel

Image
03-October-2023

Naira Value Appreciates at P2P as Bitcoin Trades Above $27000

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Peer-2-Peer (P2P) wing of the foreign exchange market on Monday, October 2, as the official market, the Investors and Exporters (I&E) window closed for the Independence Day holiday. In the P2P segment, the Nigerian Naira appreciated against the American currency by N3 to sell at N998/$1 compared with the preceding session’s value of N1,001/$1. In the same vein, the local currency improved its value against the US Dollar on Tuesday by N1 to sell at N1001/$1 versus the previous session’s exchange rate of N1002/$1. During the Independence Day