General
Customs Grows Revenue by 127% to N2.74trn in Six Months
By Adedapo Adesanya
The Nigeria Customs Service (NCS) has recorded a 127 per cent increase in revenue to N2.74 trillion in the first half of 2024 compared to the same period in 2023.
The service’s National Public Relations Officer, Mr Abdullahi Maiwada, disclosed this in a statement x-raying the organisation’s Mid-Year Performance.
“With a half-year revenue target of N2.54 trillion, the service has collected N2.74 trillion, surpassing the target by eight per cent and marking a 127 per cent increase over the previous year’s revenue.
“N1.395 trillion was collected for the second quarter, exceeding the quarterly target by 10 per cent and representing a 131 per cent increase over Q2 2023,” he said.
Mr Maiwada said that the key initiatives that contributed to the feat included its e-auction platform, which generated more than N1.34 billion, adding that the 90-day duty payment window for uncustomed vehicles contributed N4.37 billion to the revenue.
According to Mr Maiwada, these measures have significantly enhanced transparency, compliance, and efficiency in customs processes, underscoring the NCS’s commitment to excellence.
He said that during the period under review, the service intensified its anti-smuggling operations, recording 2,442 seizures with a Duty Paid Value (DPV) of more than N25 billion from January to June 2024.
The customs spokesman said that the figure was 203 per cent higher than the DPV of seizures in the first half of 2023.
“In the second quarter of 2024, the NCS made 1,334 seizures with a DPV of N 17,564,384,378, representing a 121 per cent increase over the first quarter of 2024.
“The top items seized include wildlife items, vehicles, arms and ammunition, foreign rice, pharmaceuticals, and narcotics, with 32 suspects in custody,” Mr Maiwada said.
He said the NCS processed 620,467 Single Goods Declarations (SGDs) in the first half of 2024, reflecting a reduction of approximately 39 per cent compared to the same period in 2023.
“In spite of this decline, the NCS has implemented several key initiatives to simplify and expedite customs processes.
“These include reinforcement of NCS automation procedures, capacity-building programs for officers, and public-private partnerships to enhance customs clearance efficiency.
“These efforts are crucial for enhancing Nigeria’s trade competitiveness and supporting economic growth,” Mr Maiwada said.
According to the spokesperson, the NCS faced several challenges in the first half of 2024, including significant fluctuations in the exchange rate.
Others were lower volume of transactions, low compliance levels among importers and exporters, and periodic downtime.
Mr Miawada said the challenges affected the consistency of revenue collection and overall operational efficiency.
He further explained that to address these challenges and enhance revenue collection, the NCS implemented several strategies.
They included real-time system auditing, post-clearance audits, and the verification of documents for the Pre-Arrival Assessment Report.
He added that other strategies deployed included ensuring compliance with import guidelines and implementing a pilot test for the Authorised Economic Operators (AEO) scheme.
The spokesperson said that the NCS recently implemented measures aimed at achieving its constitutional duties including the Advance Ruling System (ARS), inaugurating Operation Whirlwind, reshuffling strategic-level officers and robust stakeholders’ engagement.
General
Egbin Power Commissions 80 New Staff Housing Units
By Modupe Gbadeyanka
In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.
This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.
The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.
This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.
The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.
This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication
“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.
“This significant expansion of our residential estate is a tangible expression of that commitment.
“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.
Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.
General
NGX Group, CSCS, WIMBIZ to Ring Bell for Gender Equality
By Aduragbemi Omiyale
On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.
The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.
In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.
Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.
NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.
General
IWD: Dolapo Akanbi-Alade of Pathway Holdings Urges Stronger Inclusion of Women in Finance
By Adedapo Adesanya
The Executive Director/GCOO of Pathway Holdings Limited, Mrs Dolapo Akanbi-Alade, has called for increased inclusion of Nigerian women in finance as the world marks International Women’s Day 2026.
International Women’s Day 2026 is marked every March 8, and this year’s theme is Give To Gain.
In a statement shared with Business Post, Mrs Akanbi-Alade noted that while International Women’s Day highlights the need for gender equality, significant progress requires deliberate policies and systems that expand women’s access to finance and leadership opportunities.
She emphasised that many Nigerian women and women-led businesses still face limited access to finance, highlighting the urgent need for targeted inclusion initiatives.
“At Pathway Holdings, we empower women and give access to investment advisory, asset management, and lending solutions for institutions, high-net-worth individuals, and businesses. Ensuring that women and women-led enterprises can access these opportunities is critical to building a more inclusive financial system,” she added.
Mrs Akanbi-Alade said, “Women’s access to finance is not only a social responsibility but essential for national productivity and economic growth’’. She co-founded the following companies:
Pathway Asset Management Limited is registered and regulated by the Securities and Exchange Commission, Nigeria, as a Fund and Portfolio Manager. The product range includes Pathway Fixed Deposit Notes, Privately Managed Notes, Pathway Private Portfolio Management, Investment Advisory, and Mutual Funds, which will be launched soon.
Pathway Advisors Limited is registered and regulated by the Securities and Exchange Commission (SEC) as an Issuing House and financial adviser. Pathway Advisors’ services cover Mergers and Acquisitions (M&A), Capital-Raising, Financial Advisory, Rating Advisory, and Project and Structure Finance.
Fundbox Financial Services Limited is a wholly owned micro-lending company providing short-term personal and SME finance loans to salaried individuals, self-employed personnel, and small businesses. They offer services which include Cars4Cash, SME Loans, Personal Loans, and Group Employee Loans. Fundbox has successfully disbursed a wide range of loans to both corporate and individual clients, supporting their financial needs and business growth.
Pathway Holdings Limited is a notable investment holding firm focusing on private market investments, including private equity, private credit, and infrastructure. Pathway creates customised investment solutions for institutional investors and individuals, leveraging its extensive experience and local footprint.
-
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








