Category: Economy

  • NIMASA’s REMARKABLE ACHIEVEMENTS: Nigeria’s Maritime Advancements Garner International Acclaim

    NIMASA’s REMARKABLE ACHIEVEMENTS: Nigeria’s Maritime Advancements Garner International Acclaim

    In a remarkable three-year span from 2020 to 2023, the Nigerian Maritime Administration and Safety Agency (NIMASA) has propelled the nation’s maritime sector into global prominence through the ratification of six crucial international conventions.

    Spearheaded by the visionary leadership of Dr. Bashir Yusuf Jamoh, NIMASA has not only accelerated Nigeria’s journey toward a robust blue economy but has also set a high standard for maritime potential utilization to ensure economic sustainability and growth.

    Under Jamoh’s strategic guidance, Nigeria has earned widespread recognition for its proactive efforts in the maritime domain. It’s imperative to underline that these accomplishments wouldn’t have been possible without the steadfast legal foundations provided by both domestic legislation and international conventions, to which Nigeria has committed itself. The country has conscientiously ratified six pivotal international maritime conventions, encompassing various facets such as training standards, certification protocols, pollution control, and passenger luggage carriage by sea.

    The conventions ratified include the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships 2009, International Convention on Standards of Training, Certification, and Watch-keeping for Fishing Vessel Personnel (STCW-F) 1995, Protocol Relating to Intervention on the High Seas in Cases of Oil Pollution Casualties (Intervention Protocol) 1973, Protocol on Limitation of Liability for Maritime Claims (LLMC) 1996, Protocol to the 1974 Athens Convention relating to the Carriage of Passengers and their Luggage by Sea 2002, and Protocol of 2005 to the 1988 Protocol for the Suppression of Unlawful Acts against the Safety of Fixed Platforms located on the Continental Shelf (SUA PROT 2005).

    During this transformative triennial period, NIMASA has also successfully concluded the review of 49 regulations established under the Merchant Shipping Act, 2007. These regulations are tailored to safeguard the interests of indigenous maritime professionals and investors, offering them priority in various opportunities within the sector.

    In tandem with its commitment to bridging operational gaps between maritime and other sectors, NIMASA has facilitated unprecedented interagency collaboration with federal government-owned bodies. The agency has inked Memorandums of Understanding (MoUs) with key entities such as the Nigerian Meteorological Agency (NiMet), Nigerian Institute of Transport Technology (NITT), and the National Oil Spill Detection and Response Agency (NOSDRA), signifying its dedication to holistic development.

    Furthermore, NIMASA’s drive for global maritime excellence has led to groundbreaking MoUs with 16 countries, focusing on the recognition of Certificate of Competency (CoC) and the training of seafarers. This initiative aims to foster international employment opportunities for Nigerian CoC holders while contributing to the global challenge of seafarer shortage.

    In the realm of certification, NIMASA’s innovative approach has automated the registration process for Shipping Company/Agents, ensuring greater integrity through QR code-embedded certificates, effectively eliminating the specter of counterfeit documentation.

    NIMASA’s commitment to education extends to the legal sphere as well, with the agency successfully hosting the Annual Nigerian Admiralty Law Colloquium in collaboration with the Nigeria Institute of Advanced Legal Studies (NIALS) and the National Judicial Institute (NJI) for consecutive years. This initiative aims to enhance judicial officers’ capacity to handle admiralty cases effectively.

    One of NIMASA’s most notable achievements is the instrumental role it played in the implementation of the Suppression of Piracy and Maritime Offences (SPOMO) Act, 2019. This landmark legislation has significantly bolstered security in trading routes across the Gulf of Guinea, leading to the successful prosecution of several piracy-related cases. The SPOMO Act has garnered global attention for its comprehensive legal framework and successful outcomes, inspiring maritime administrations worldwide to consider its model for tackling piracy.

    Renowned figures in the global maritime community, including Kitack Lim, Secretary of the International Maritime Organization (IMO), and Dr. Paul Adalikwu, Secretary General of the Maritime Organization of West and Central Africa (MOWCA), have applauded Nigeria’s SPOMO Act, recommending its adoption to other African nations.

    In sum, NIMASA’s dynamic leadership, steered by Dr. Jamoh and his adept team, has transformed the agency into a beacon of progress, leveraging the power of the law to augment Nigeria’s maritime industry and contribute substantially to the nation’s economic prosperity.

  • Customs Confiscate 2,940 Parcels Of Cannabis Sativa

    Customs Confiscate 2,940 Parcels Of Cannabis Sativa


    A Cannabis Sativa laden boat has been intercepted by the Customs Operatives attached to the Ogun II Area Command.

    The Acting Comptroller-General of Customs, Bashir Adewale Adeniyi confirmed the development while underscoring the severe ramifications of unlawful imports, specifically focusing on drugs, on the younger generation.

    He accentuated its role as a substantial menace to public well-being, security, societal advancement, and economic prosperity.

    At an event displaying the latest confiscations of suspected Cannabis Sativa at the Ogun II Area Command on August 7th, 2023, the Acting CGC commended the unwavering dedication of customs officers in thwarting the smuggling of cannabis sativa within Zone A.

    “We are pleased to announce the recent achievements and unwavering dedication of our officers in combating the smuggling of cannabis sativa within Zone A of the Nigeria Customs Service,” said Adeniyi.

    The seizures’ particulars encompass the halting of 14,015 packages of Cannabis Sativa by agents of FOU Zone A. The combined mass of the confiscated narcotics tallied up to 7,728 kilograms, equating to a Duty Paid Value of NGN 618,240,000.

    These items were reclaimed from a watercraft in the waterways near the areas of Ajah and Ijebu-ode. Three individuals implicated in the contraband operation were transferred to the National Drug Law Enforcement Agency (NDLEA) for extended scrutiny.

    The Acting CGC also conveyed that collaborative patrol units and border enforcement operatives from sector 2 accomplished comparable confiscations.

    “On August 3rd, 2023, at approximately 0400hrs, a joint patrol team comprising of officers from the Western Marine Command intercepted a wooden boat containing two Yamaha outboard engines (40 Horsepower) and 103 sacks of what appeared to be Cannabis Sativa.

    The substance’s overall mass measured 3,811 kilograms, and it held a Duty Paid Value equivalent to NGN 32,193,000.

    He also revealed a separate confiscation incident that took place at 0315hrs on August 7th, 2023. Valuable intelligence led to the uncovering of 2,940 packages of Cannabis Sativa.

    These parcels had been discreetly stashed amidst a shipment of pineapple fruits, concealed within an unregistered white Fiat bus on Sokoto/Ijoun Road, located in the Yewa North Local Government Area of Ogun State.

    The apprehended haul included the truck loaded with cannabis sativa, along with the detention of the two suspects associated with the situation.

    In regards to the arrests conducted in relation to these seizures, Adeniyi stated.

    “Two suspects, Mr. Akeem Olatunde – a driver, and Mr. Abdul Nurudeen Adedeji – a passenger, have been apprehended and are currently in custody pending further investigation.”

    He provided reassurance to the population that the service remains unwavering in fulfilling its legal obligations.

    “The Nigeria Customs Service remains steadfast in delivering on its statutory mandates and protecting our beloved nation from the scourge of illicit drugs.

    “We assure the public that details of our investigations will be made available to ensure transparency and accountability”, he concluded.

  • Customs Boss Assures Excise Traders And FTZ Enterprises In Ogun State Of Strong Support For Business Growth

    Customs Boss Assures Excise Traders And FTZ Enterprises In Ogun State Of Strong Support For Business Growth


    The Acting Comptroller-General of Customs, Bashir Adewale Adeniyi has conveyed his dedicated pledge to bolstering the success of stakeholders’ businesses.

    This affirmation took place during his visit to the Ogun II Area Command of the Nigeria Customs Service in Abeokuta, where he was on an introductory tour.

    Interacting with Excise Traders and Free Trade Zone Operators in Ogun State, the Acting CGC emphasized that their activities hold significant importance within the service’s agenda.

    According to him “In his words, “I have made it a deliberate policy to put your operations at the cornerstone of our activities”.

    “My understanding is that you are critical stakeholders for us, it is through your activities that we can report our own activities, and it is, therefore, in our interest that we do everything to ensure that your companies and businesses prosper”, he added.

    “It is not all the time that Customs Officers are overzealous in implementation of the law; most of the time, they keep in their mind the basic objectives behind these entities”, he noted.

    “It is the intention of the government through enterprises to boost foreign exchange for Nigeria and its economy, create jobs for Nigerians, and of course, to enhance Nigeria’s economic development, and this is why a number of concessions, a number of waivers have been granted to free zone operators.”

    The Customs Boss received congratulations from stakeholders regarding his appointment. Simultaneously, concerns about the operations of Free Trade Zones and factories under excise control were also brought up by the stakeholders.

    In reply, the Acting CGC disclosed the establishment of a Committee tasked with tackling these concerns.

    “I have set up a committee consisting of representatives of enterprises, The Nigerian Export Processing Zones Authority (NEPZA) and Oil and Gas Authority, working with representatives from my Office to look into all the areas of concern”.

    While appreciating the Ag. CGC, for his visit, the Customs Area Controller, Comptroller Ahmadu Shauibu, highlighted some of the Command’s achievements.

    “At our level, since we came in, we have brought in about 18 factories under excise control”, he said.

    The Acting Comptroller-General of Customs urged the command’s officers to grasp the significance of their operations and contributions to Nigeria’s economic progress.

    He concluded his visit by conducting a tour of the command’s facilities.

  • NIMASA Hands Over Continental Shipyard Limited (CSL) To Technical Partners

    NIMASA Hands Over Continental Shipyard Limited (CSL) To Technical Partners

    Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Bashir Jamoh, OFR flanked by the Managing Director, Melsmore, Mr. Danny Fuchs (left) and the Chief Engineer of Melsmore, Mr. Givol Yaron during the handing over of the leased site at the Continental Shipyard Limited (CSL) of the Nigerian Ports Authority to the technical partners, Melsmore. The event was held at the headquarters of the Agency in Lagos.

    The Management of the Nigerian Maritime Administration and Safety Agency, NIMASA has handed over the leased site at the Continental Shipyard Limited (CSL) of the Nigerian Ports Authority to the technical partners, Melsmore.

    The technical partners are to liaise with the Management of the Nigerian Ports Authority in finalising site management, which include risk assessment in preparation to move the Modular floating Dock to the Continental Shipyard for the commencement of full operations.

    NIMASA and the technical partners also agreed to invite manufacturers of the Floating Dock, Damen Shipyard to join in recommissioning the Dockyard, while site preparations are ongoing. This is to ensure the Floating Dock is deployed in the shortest possible time.

    L-R: Head, Maritime Safety and Seafarers Standards Department of Nigerian Maritime Administration and Safety Agency, NIMASA, Mr. Taiwo Olaniyan; Managing Director, Melsmore, Mr. Danny Fuchs; Director General, NIMASA, Dr. Bashir Jamoh, OFR; Chief Engineer of Melsmore, Mr. Givol Yaron; and Head, Public, Private Partnership Unit of NIMASA, Mr. Kabiru Diso. During the handing over of the leased site at the Continental Shipyard Limited (CSL) of the Nigerian Ports Authority to the technical partners, Melsmore, which was held at the headquarters of the Agency in Lagos.

    While addressing officials of Melsmore, the Director General of NIMASA, Dr. Bashir Jamoh, OFR, emphasised the need for them to review the action plan in the light of realities on ground with detailed deliverables, and key performance indicators with clearly stated timelines.

    “Nigerians eagerly await the deployment of the Modular Floating Dock. This is a national asset, which has potentials to boost maritime trade, create jobs, develop skills, by providing training avenues to various maritime training institutions in Nigeria, while also attracting foreign investment and preventing capital flight, thereby generating revenue. We hope to have students from the Maritime Academy of Nigeria and the Maritime University Okerenkoko amongst other maritime institutions come for practical time”, the DG said.

    In his remarks, the Managing Director, Melsmore, Mr. Danny Fuchs thanked the Management of the Agency for the opportunity to work on such important project, and gave the assurance that the company is prepared to handle the movement of the floating dock from the naval dockyard to the Continental Shipyard Limited (CSL).

    Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Bashir Jamoh, OFR flanked by the Managing Director, Melsmore, Mr. Danny Fuchs (left) and the Chief Engineer of Melsmore, Mr. Givol Yaron during the handing over of the leased site at the Continental Shipyard Limited (CSL) of the Nigerian Ports Authority to the technical partners, Melsmore. The event was held at the headquarters of the Agency in Lagos.

    It may be recalled that the Nigerian Ports Authority (NPA) recently leased designated areas at the Continental Shipyard for the operations of the Modular Floating Dock. The areas include; the dolphin jetty, waterfront of the jetty adjourning the slipway, an administrative block, a construction, welding and mechanical workshop and a civil maintenance workshop, among others.

    The project will be run on a Public Private Partnership (PPP) arrangement.

  • ASIMPIN Says No Provision For Elders’ Forum In Constitution

    ASIMPIN Says No Provision For Elders’ Forum In Constitution

    The Association of Igbo Maritime Practitioners in Nigeria (ASIMPIN) has distanced itself from a group over alleged impersonation.

    The alleged group recently branded itself as a ASIMPIN Elders’ Forum, meanwhile, the authentic Association’s constitution has no provision for Elders’ forum.

    ASIMPIN’s executives led by the Secretary-General, Prince Okey Egbuchulam; National Publicity Secretary (NPS), Dr. Obicee Okonkwo; and The Senior Special Assistant to the President-General, Mr. Emeka Nwosu; yesterday argued that the purported members of the Elders’ forum aren’t recognized members of any chapter of the association.

    Speaking at the press conference yesterday, Dr. Obicee Okonkwo said; “One must first be a member of a Chapter before you can lay claims to be a member of the whole body. You can verify from the ASIMPIN Constitution and other legitimate members of the association if there is any provision for Elders’ forum in the constitution; because there is nothing like that. So, before we begin to interrogate was these individuals said, we should note that they had no right to speak in any capacity on behalf of ASIMPIN”

    The ASIMPIN NPS also cited the Article 7, Section B of the Association’s constitution which stated that; “MODE OF ELECTION: The mode of election into any office of ASIMPIN shall be by secret ballot. The National Executive shall be by collegiate while Chapter shall be elected by all Chapter registered financially up to date members.”

    He further explained that going by the constitution, a fresh national elections will only be conducted after the chapter elections holding first, even as he added that interested contestants must be financial members.

    Dr. Obicee, however, explained that the new biometric system criticized by the alleged Elders’ forum was conceived to streamline the Association’s members to recognizable financially-committed members in Chapters.

    He recalled that in the previous and only election of the association, there was the national elections first before the chapter elections before the body had just been formed and needed to create a leadership structure.

    Also speaking, the Secretary-General of ASIMPIN, Prince Okey Egbuchulam revealed that at the recent national executives meeting the association agreed to introduce biometrics as part of efforts to know real members of the body so that non-members aren’t smuggled in during elections.

    Egbuchulam added that the ASIMPIN executives had contracted a private company to carryout the biometrics capturing for its members and the executives also distributed forms to the respective chapters to be obtained at N1000 for raw data before biometrics capturing.

    His words: “In September 2022, we had a NEC meeting at Villa Park in Lagos and we decided to do elections. However, to curb the fraudulent practice where candidates imported non-Igbos and non-members just for the sake of voting; we agreed that ASIMPIN’s Electoral Committee (ASIMPEC) will only be inaugurated after the biometrics and membership forms from the respective chapters have been completed.”

    “Subsequently, we printed forms and distributed to all the chapters; but no chapter has been able to register one member. No one has gotten back to us that any single member has registered. We need the chapters to fully register their members before we arrange for the private company to do the biometrics. The private company we contracted for this biometrics has been calling us repeatedly, but we help telling them to hold on”

    The ASIMPIN executives also dismissed claims that the biometrics capturing and manual registration of members are ploys to manipulate the electoral process, stressing that both activities will only strengthen the transparency and accountability in the association.

  • Freight Forwarders Engages NSC On Minimum Service Standard 

    Freight Forwarders Engages NSC On Minimum Service Standard 

    The Nigeria Shippers’ Council this morning organised an engagement meeting with freight forwarders where a draft minimum service standard for freight forwarding operation in Nigeria was discussed. 

    The meeting was chaired by the deputy director, standard services of the Nigeria Shippers’ Council, Mrs. H. I. Adaba and seconded by Mrs. Ibeh, the chief operations officer, standard services of the same Council.

    After the initial formal procedures, Mrs. Adaba read out the draft Minimum Standard which states that “Anyone in freight forwarding practice;

    1. Shall have a traceable office fully equipped with functional internet access 

    2. Shall be duly registered with the Corporate Affairs Commission (CAC), Nigerian Shippers’ Council (NSC) and Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) 

    3. A freight forwarder shall have a valid Custom’s license.

    – In an event a freight forwarder uses a license other than his/hers, the penalty shall be on the owner of the license in event of service failure, such penalties shall include; 

    i. Suspension from service  

    ii. Made to face the tribunal 

    iii. Blacklisted 

    4, All commercial engagement between the agent and the consignee/shipper shall be formally documented 

    5. In addition to the above, every freight forwarding contract shall have a Service Level Agreement which shall explicitly explain the extent of service to be rendered e.g. payment for delivery truck, warehousing including storage in transit, group age or consolidation, trucking to the agreed destination, payment of containers deposit/refund. 

    6. Charges shall be tied to services based on the Service Level Agreement and fully receipted. 

    7. Freight Forwarders must be conversant with the HS-Code classifications and shall offer honest and fair advice to that effect to avoid dispute during cargo clearance; failure which the agent shall bear the additional cost of cargo clearance. 

    8. A freight forwarder is liable for any loss arising from any false declaration or wrong application of the HS code 

    9. Provision for cost variation shall be evidently proven based on additional service rendered.

    10. Proforma invoices, debit notes and receipts relating to transactions shall be duly forwarded to the consignee within 7 days of completion of transaction.

    11. In addition, every transaction shall be receipted. 

    12. No agent shall hold a lien on cargo or deliver to proxy except where there is an agreement with the consignee”.

    Five different entities were invited to the meeting which included the Council for the Registration of Freight Forwarding in Nigerian (CRFFN), the Association of Nigerian Licenced Customs Agents (ANLCA), the National Association of Government Approved Freight Forwarders NAGAFF), the African Association of Professional Freight Forwarders and Logistics in Nigeria (APFFLON) and the Lagos Chamber of Commerce and Industry (LCCI) and at the end the freight forwarders were asked to react to the draft standard and a flurry of questions, objections and modifications followed.

    Ayodele Rasheed Shittu representing ANLCA stated that most of the contents of the draft guidelines are observed by freight forwarders, but that some consignees/importers do try to abuse the HS code for example using the US code 32 meant for clearing thinners with duty value of 5% to pay for paints with HS code 38 and duty value of 38%.

    A major issue that angered the freight forwarders about the draft standard is the question of why the Shippers’ Council should also be setting standard when the act that established the Council for the Regulation of Freight Forwarding has empowered them to regulate all freight forwarding activities in Nigeria, but they also asked what the NSC is doing to protect freight forwarders against foreigners who are now encroaching into their business.

    The Acting Registrar of CRFFN, Chinyere Uromta talked about the responsibilities of the CRFFN on the regulation of freight forwarding, but added that she and her Council would like to have a meeting with the NSC before the next meeting with the freight forwarders.

    The Tin Can Island chapter chairman of APFFLON, Akeem Ayobiojo talked about the challenges faced by freight forwarders and the need for the economic regulators, the NSC to be alive to their responsibilities and protect freight forwarders who are the generators of the revenues to the government.

    Emmanuel Agubanze of NAGAFF opined that the NSC may have lost its bearing in the scheme of things as there should be a proper inter-agency collaboration and so advised the NSC to liaise with the CRFFN to regulate the freight forwarders. They also noted that section 19 of the CRFFN act stated that consignment should not be released to freight forwarders unless they can prove that they are registered with the CRFFN.

    Alhaji Aliyu of the LCCI noted that the draft standard of operation contains some aspects  that may be beneficial to all and asks that the NSC protects the freight forwarders.

    The freight forwarders generally demands that the Shipping Companies and Terminal Operators be addressed over their level of high-handedness and that truckers should also be regulated as part of the freight forwarding community. The freight forwarders were also totally miffed with the item number 8 on the draft service standard.

    The freight forwarders agreed that freight forwarding is vast and that the Shippers’ Council and the Council should go and harmonise their stand, but they were also advised to go and compile their operational challenges and send same to the Shippers’ Council while copying the CRFFN before their next meeting.

  • Ogun 1 Customs Generates Over N13m, Made Seizures Worth N106m In July

    Ogun 1 Customs Generates Over N13m, Made Seizures Worth N106m In July

    The Ogun 1 Area Command of the Nigeria Customs Service under the result-oriented leadership of the Customs Area Controller (CAC), Comptroller Bamidele Makinde has generated over N13m and made seizures worth N106m in July. 

    According to a statement signed by SC Hammed Bukoye Oloyede, Public Relations Officer, this was in a feat to continued to sustain its performance on the mandate of revenue generation, trade facilitation and suppression of smuggling. 

    “In the month of July, 2023, the Command generated a sum of N13,370,229.00 as revenue, from baggage assessment and proceeds from auction sales of Premium Motor Spirit (PMS). The CAC commends the compliant travelers for their honesty and patriotism which made part of the generated revenue a reality.

    “In the area of anti-smuggling activities, the Command made a seizure of 2,113 bags of foreign parboiled rice of 50kg each, 21 units of vehicles (means of conveyance & Tokunbo), 17,950 litres of PMS and 1,416 pieces of used tyres among others. The seizures were made from different locations across Ogun State and were mainly intelligence-driven. The Duty Paid Value (DPV) of the seized items is N106,757,592.00. 

    “The CAC wishes to enlighten the general public that the Command’s activities in Ogun State conform with the Nigeria Customs Service Act 2023. Various sections and subsections of the Act empower Customs’ operatives to carry out patrol freely in the exercise of their duties in enforcing Customs & Excise Laws, making seizures/detention, and arrest of suspects in connection with smuggling activities. 

    “The Act also prescribes various punishments on trade-related matters. Examples of such are obstruction of officers, hindrance, molestation or assaults on officers while on lawful duty as well as  preventing seizure of items, or arrest of a suspect which attracts a fine of N5,000,000.00, imprisonment for 5 years or both.

    “Comptroller Makinde on behalf of the Officers and Men of Ogun 1 Command thanks the Ag Comptroller General of Customs, Bashir Adewale Adeniyi MFR dsm fnipr psc(+) and members of his entourage on the occasion of his visit to the Command on Sunday, 6th August, 2023. 

    “He described the visit as an encouragement to officers and a morale booster. He assured the CGC of sustaining and improving the performance tempo of the Command.

    “The CAC also used the avenue to commend officers and men on their immense contributions to the laudable achievements of the Command. He consequently charged them to remain resolute in the discharge of their duties, which must be done with courtesy without loss of dignity.

    “As the Command’s stakeholders’ engagement continues to be brought to bear, the Controller appreciated the practical presence of our critical stakeholders, such as Heads of sister agencies; security agencies from Igolo; Secretary General Inter-border forum and clearing agents, during the visit of the Ag CGC. He thanked them for the warm reception accorded him. 

    “The CAC applauded the traditional rulers in the Ipokia Local Government Area, community leaders, youths and other members of Idiroko and Ipokia communities for the warm reception given to the Ag CGC when he visited the Palaces of Oniko of Ikolaje and Onipokia of Ipokia to pay homage and courtesy visit. 

    “He, on a final note, appreciated the gentlemen of the press for their usual objectivity in their news reportage,” the statement read

  • ALAT By Wema Unveils Exciting Summer Internship Programme

    ALAT By Wema Unveils Exciting Summer Internship Programme

    ALAT by Wema, a trailblazing digital bank, has announced the launch of its eagerly anticipated Summer Internship Program which will not only serve as a remarkable learning opportunity for young talents but also highlights Wema Bank as an exceptional place to work.

    The initiative, according to the Divisional Head, Brands, People and Culture, Ololade Ogungbenro, is designed with a commitment to nurturing future leaders, offering hands-on experience that bridges the gap between academia and the corporate world.

    She says participants will gain invaluable insights into the dynamic banking industry while contributing to real-time projects that impact the country.

    “The summer internship program isn’t just about professional development; it’s a testament to Wema Bank’s dedication to fostering a vibrant and collaborative work environment. Participants will have the chance to interact with seasoned professionals, immerse themselves in innovative projects, and truly experience the bank’s unique culture.” Ogungbenro adds.

    The ALAT Summer Internship Program is open to undergraduates between the ages of 15 and 22. Selected participants will undergo a comprehensive orientation and mentorship, working side by side with seasoned professionals across various departments.

    Wema Bank continues to be at the forefront of digital transformation in the banking industry, and the ALAT Summer Internship Program is a reflection of its commitment to fostering a culture of innovation, learning, and growth.

  • FOU Zone ‘A’ Seizes Bulletproof Jackets, Pistol Pouches, Jack Knives, More Contraband Items

    FOU Zone ‘A’ Seizes Bulletproof Jackets, Pistol Pouches, Jack Knives, More Contraband Items

    In recognition of the responsibility bestowed on the Federal Operations Unit to suppress smuggling, block revenue leakages, facilitate legitimate trade, collect revenue and contribute to national security, the Acting Controller, Federal Operations Unit Zone A, Huassein Ejibunu has highlighted remarkable feat achieved by the operatives of the unit in the last one month.

    In a press briefing with journalists, Ejibunu revealed that during July 2023, his officers successfully intercepted smuggled items, which included 15 bulletproof jackets, 15 jack knives, and 20 pistol pouches. This operation took place at the Ijebu-Ode Checkpoint in Ogun State, where a Toyota Sienna Bus was apprehended.

    The driver of the vehicle was promptly arrested along with the seized contraband.

    The total duty paid value (DPV) of the confiscated goods was an impressive Four Hundred and Sixty-Two Million, Seven Hundred and Eight Thousand, Eight Hundred and Seventy-Five Naira (N462,708,875).

    Also, the unit managed to recover Sixty-Six Million, Four Hundred and Ninety-Three Thousand, Three Hundred and Forty-Six Naira, Forty-One Kobo (N66,493,346.41) in revenue.

    The amount was deposited into the federation account through the issuance of demand notices (DN) on Customs duties that had been found to be underpaid. These accomplishments underscore the unit’s commitment to upholding national interests and ensuring compliance with customs regulations.

    According to him “It is pertinent to know that the importation of all forms of bulletproof materials such as vests, ballistic materials and vehicles, as well as parts and accessories for all military armaments and hardware such as guns, arms and ammunition of all kinds; lethal and non-lethal requires an end-user certificate.

    “An end-user certificate is applied to, and issued by the office of the national security adviser which loses its validity after one year from the issuance date. Hence, anyone importing a controlled item must do so within the validity period of the end-user certificate.

    “Seizures recorded within the period under review are a reflection of officers’ commitment to duty, and no compromise posture in the discharge of our statutory responsibilities; aimed at protecting the national economy and preventing the importation of prohibited, and harmful goods.

    “50 seizures were made within the period under review for non-compliance with the extant Customs laws. Notable among the seizures made are:

    5,642 X 50kg bags of foreign parboiled rice (equivalent to 9 trailer loads)
    18,925 litres (757 X 25 litres jerry cans of premium motor spirit)
    20 pieces of pistol pouches
    15 pieces of bulletproof jackets
    15 pieces of jack knives
    49 cartons of children school shoes
    181(87 kg) parcels of Indian Hemp
    357 kegs X 5 litres of vegetable oil
    1 unit of Honda Motorcycle
    2 used (Tokumbo) vehicles

    “The total duty paid value (DPV) of the seized goods stood at Four Hundred and Sixty-Two Million, Seven Hundred and Eight Thousand, Eight Hundred and Seventy-Five Naira (N462,708,875). While the sum of Sixty-Six Million, Four Hundred and Ninety-Three Thousand, Three Hundred and Fourty-Six Naira, Fourty-One Kobo (N66,493,346.41) was recovered as revenue into the federation account through the issuance of demand notices (DN) on Customs duties that were discovered to be underpaid.

    “13 suspects were arrested in connection with some of the seizures, and are at different stages of investigations and prosecution.

    “I will also hand over three (3) suspects and cannabis sativa with a net weight of 7,728 kilogrammes to officials of the National Drug Law Enforcement Agency, Lagos State Command; for further investigation and prosecution.”

  • ECOBANK Attributes Resilient Balance Sheet To Diversified Business Model, Customer-Focused Approach

    ECOBANK Attributes Resilient Balance Sheet To Diversified Business Model, Customer-Focused Approach

    In response to Ecobank Group’s impressive performance in the second quarter of 2023, CEO Jeremy Awori attributed the group’s profitability to their well-executed strategic roadmap. This roadmap highlighted the advantages of their diversified business model, the strength of their balance sheet, and their unwavering commitment to providing exceptional customer service.

    During the second quarter of 2023, the group saw a remarkable 63% increase in pre-tax profits, reaching an impressive N92.52 billion.

    This substantial growth in profits also contributed to a 38% rise in half-year profit before tax, amounting to N150.31 billion compared to N108.96 billion in the same period the previous year, according to the financial statement.

    The quarter’s financials showcased substantial improvements in key areas. Interest income surged to N238.67 billion, a significant increase from N161.09 billion in the corresponding quarter of 2022.

    Also, fees and commission income experienced a solid 25% gain, reaching N71.01 billion compared to N56.73 billion recorded in the same period last year.

    Another indicator of Ecobank Group’s success was the substantial increase in customer deposits for the half-year ending on June 30, 2023.

    The deposits rose to N14.71 trillion, showcasing significant growth from N9.60 trillion recorded as of December 31, 2022.

    Jeremy Awori expressed his satisfaction with the half-year financial statement, underscoring the positive impact of their strategic approach on the company’s overall performance.

    The CEO’s optimism reflects the commitment and dedication of the entire team at Ecobank Group to delivering outstanding results and value to their customers and stakeholders.

    Our results for the first six months of 2023 demonstrate the benefits of our diversified business model, resilient balance sheet and our commitment to serving our customers.

    “We achieved these results despite continued challenging macroeconomic conditions in the second quarter, with significant weaknesses in African currencies, high consumer prices and tepid economic growth.”

    “We have made meaningful progress in formulating our strategic roadmap, which will provide the blueprint for our Growth, Transformation and Returns agenda.

    Over the last few months, as I engaged with our customers, colleague Ecobankers, and other stakeholders, my confidence in our growth opportunities has been reaffirmed.

    “In addition, we will take forward our transformation and growth agenda for our corporate, commercial and consumer banking businesses.

    “Furthermore, the prudent management of our balance sheet and capital remains a priority. We will also continue investing in our best-in-class technology, retaining and attracting talent while reinforcing the right culture”

    “Finally, I am proud of Ecobank’s contributions across the African communities in which we operate, and equally proud of the good work Ecobankers do for our customers daily,” Awori concluded.

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