By Bon Peters

The Zonal Coordinator of the Nigeria Customs Service (NCS) Zone C in Port Harcourt, Rivers State, Mr Kamal Mohammed, has commissioned a reconstructed a clinic at the Area 1 Command.

The customs officer, who retired from the agency after reaching the mandatory 60 years retirement age, said he was happy “to witness and formally commission the renovated customs clinic,” adding that, “For a long time, this clinic remained in a deplorable state, struggling to meet the expectations and healthcare needs of officers, their families, and the surrounding community.”

The outgoing Customs ACG noted that the narrative has been positively rewritten which he attributed  to the passion, resilience, and unwavering commitment demonstrated under the dynamic leadership of the Customs Area 1 Controller, Comptroller Salamatu Atuluku.

Mr Mohammed reiterated that Comptroller Atuluku’s vision, foresight, and determination championed the noble cause and transformed a long-standing challenge into a worthy and enduring success.

He insisted that the profound truth underscored the essence of the event even as he noted that a healthy workforce was the backbone of any effective organisation, and the provision of quality healthcare was fundamental to sustaining productivity, morale, and excellence in service delivery, pointing out that the renovation project aligned squarely with the NCS Corporate Social Responsibility mandate which reflected collective commitment to the welfare, well-being, and productivity of the officers and stakeholders.

”As part of our commitment to further demonstrate our readiness to contribute meaningfully to the healthcare needs of the port community, we are also conducting free blood pressure and blood sugar screening tests today.

“This outreach underscores our resolve to extend care beyond infrastructure and directly impact lives through preventive health services,” Mr Mohammed said.

“Today’s occasion therefore represented more than the commissioning of a healthcare facility; it is a clear testament to purposeful leadership, teamwork, and the enduring values of service, compassion, and innovation that define the NCS,” he added.

Earlier in her welcome address, Ms Atuluku applauded the Zonal Coordinator for his steadfastness selflessness and commitment to duty even as she equally praised him for the robust relationship that existed between him and the officers and men of the command, wishing him well in his future endeavours.

She disclosed that renovated facility aligned with the agency’s policy on staff welfare, occupational health, and safety, which recognized that the health and well-being of officers and men remained fundamental to effective service delivery.

“Upon my resumption at the Port Harcourt Area I Command in September 2025, an assessment of the staff clinic revealed that the facility was in a poor state and required urgent intervention to restore it to acceptable operational standards.

“Consequently, renovation works were undertaken to improve its functionality and service delivery. These interventions included the restoration and connection of electricity, repainting of the building, replacement of window blinds, tiling of the clinic floors, repairs to critical bays, restocking of the pharmacy, and other essential improvements aimed at enhancing the working environment and the quality of healthcare services.

“The renovated staff clinic is now better positioned to provide timely and efficient healthcare services to officers and men of the command,” she said.

By Adedapo Adesanya

Tether, issuer of the world’s most popular stablecoin, USDT, wrapped up 2025 with a net profit of over $10 billion, bolstered by steady growth in its flagship token and growing exposure to US Treasuries and gold.

The fourth-quarter attestation showed Tether holding $6.3 billion in excess reserves, a buffer over its $186.5 billion in liabilities tied to issued tokens. USDT’s circulating supply grew by $50 billion over the year to over $186 billion.

The firm continued ramping up its holdings of US Treasuries, reaching $122 billion in direct exposure and $141 billion including overnight reverse repurchase agreements, positioning it among the largest holders of US government debt globally.

Tether also maintained significant allocations to gold and Bitcoin, reporting holdings of $17.4 billion and $8.4 billion, respectively.

Tether’s investment portfolio, which is separated from reserve assets, was valued at $20 billion.

“With USDT issuance at record levels, reserves exceeding liabilities by billions of dollars, Treasury exposure at historic highs, and strong risk management, Tether enters 2026 with one of the strongest balance sheets of any global company,” said the chief executive of Tether, Mr Paolo Ardoino, in a statement shared with Business Post.

“This has been made possible by the trust accrued by our strong risk management setup, unprecedented in the financial sector, and the decisions we make around asset quality, allocation, and liquidity are designed to ensure USD₮ remains reliable and usable at a global scale, even during periods of extreme demand,” he added.

The latest report comes amid rising global demand for stablecoins, with Tether’s USDT remaining the dominant digital dollar in circulation.

By Adedapo Adesanya

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over its failure to account for the alleged missing or diverted N22.3 billion, $49.7 million, £14.3 million and €5.2 million oil funds.

Disclosing this in a statement on Sunday, SERAP Deputy Director, Mr Kolawole Oluwadare, said the suit followed the damning allegations documented in the 2022 audited report by the Auditor-General of the Federation, which was published on 9 September 2025.

The suit was filed last Friday at the Federal High Court in Abuja, with the organisation seeking “an order of mandamus to direct and compel the NNPCL to account for the alleged missing or diverted N22.3 billion, $49.7 million, £14.3 million, and €5.2 million oil money.”

It also asked the court to “direct and compel the NNPCL to disclose the specific financial transactions carried out in respect of the alleged missing or diverted N22.3 billion, $49.7 million, £14.3 million and €5.2 million oil money, including details of disbursement, the contractors, and other individuals who collected the money.”

“The diverted or misappropriated oil revenues reflect a failure of NNPCL accountability more generally and are directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability,” SERAP argued, noting that, “Granting the reliefs sought would strike a blow against the impunity of those responsible for the missing or diverted oil money, and ensure that the money is returned for the sake of NNPCL’s victims—Nigerians.”

“The allegations have also undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities.

“The Auditor-General has for many years documented reports of disappearance of oil money from the NNPCL. Nigerians continue to bear the brunt of these missing oil money meant to provide essential public services for Nigerians,” it added.

SERAP is also arguing that, “Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”