…As Comptroller Ejibunu vows to make remaining 2023 tough for smugglers
In a significant operation aimed at curbing illegal activities and safeguarding the nation’s economy, the Federal Operations Unit (FOU) Zone ‘A’ of the Nigeria Customs Service has announced the seizure of a substantial cache of items. These 14,574 seizures, valued at N1,241,777,700 in duty paid value, includes 17 vehicles, foreign parboiled rice, Indian hemp, and other illicit goods.
Acting Controller of the FOU Zone A, Hussein Ejibunu, disclosed these findings during a press briefing held in Lagos on Tuesday. The operation’s primary goal is to prevent revenue loss due to various infractions such as under-valuation, under-payments, and incorrect classification. Notably, the unit successfully collected N115,456,534.94 following the issuance of demand notices to defaulters.
Ejibunu provided a detailed breakdown of the seized items, emphasizing the magnitude of their efforts. “We were able to seize a total of 7,381 units of 50kg foreign parboiled rice from smugglers, equivalent to nearly thirteen trailer loads of rice,” he revealed.
Additionally, the customs unit confiscated seventeen vehicles from smugglers attempting to evade duty payments.
The Acting Controller further noted the interception of 593 jerrycans, totaling 14,825 liters of premium motor spirit (petrol). Due to the volatile nature of this product, it was safely disposed of in accordance with established procedures.
Other seizures included 657 pieces of used tires, 167 parcels of Indian hemp (equivalent to 202 kilograms), 39 bales of second-hand clothing, 100 packs of tomato ketchup, 4 units of used motorcycles, 600 cartons of GIV soap, and 730 sacks of hide and skin concealed in a 1×40 container, totaling 5,033 pieces.
Ejibunu called on well-meaning and patriotic Nigerians to continue supporting the FOU Zone ‘A’ with credible information that can aid in the fight against economic sabotage. The Acting Controller emphasized that their commitment to tackling smuggling and illegal activities remains unwavering.
Nine suspects have been arrested in connection with these seizures, with the dedicated efforts of seizing officers were AC Adewale Egunjobi and SC Johnzmaco Akabuisi were instrumental in this operation.
Ejibunu highlighted the importance of cooperation and synergy in combating such activities, reinforcing the unit’s determination to make life difficult for smugglers during the upcoming yuletide season and beyond.
He also lauded the Intelligence Unit of the Command for their excellent work, emphasizing the importance of consuming local products to strengthen the nation’s economy.
The FOU Zone ‘A’ remains resolute in its mission to protect Nigeria’s economic interests and ensure that the law is upheld.
Category: News
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Customs FOU Zone A Make Seizure Of Imported Rice, Others Worth Over ₦1.2b, Arrest 9 Suspects In October
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Unity Bank MD Tasks Students On World Savings Day Training
The Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs Tomi Somefun has charged parents to take greater responsibility in supporting early child adoption of Banking and savings culture as the bedrock for forging sustainable wealth creation for Nigerian Child.
Mrs. Titilayo Abraham, the representative of the MD/CEO of Unity Bank Plc, Mrs. Tomi. Somefun facilitating a financial literacy training at Kabayi Secondary School, Mararaba, Nasarawa State, as part of the activities to mark 2023 World Savings Day
Somefun gave the charge while facilitating training for students of Kabayi Secondary School, Mararaba, Nasarawa State as a part of activities to mark this year’s World Savings Day.“The government and parents must make it a priority to start nurturing Nigerian Child for financial responsibility, savings culture and investment, This is the best approach to raising a generation of financially literate society with individuals who are disciplined, wealth creators to drive social and economic changes,” Somefun said.
Some Unity Bank representatives and a cross section of the participants of the World Savings Day training
Represented by the Group Head, Customer Engagement, Unity Bank Plc, Mrs. Titilayo Abraham, Mrs. Somefun also advocated for government-backed initiatives that aim to encourage parents to commit to inculcating a savings culture in their children.She trained the students on the importance of savings and how to cultivate good financial habits that will lead to a rewarding and financially secure future.
A cross section of participant of World Savings Day training at Ted Spectacular School, Barnawa Kaduna.
The training, which was aimed at imparting the skills and knowledge of savings among the students, was also held across 31 other secondary schools across Nigeria, with Unity Bank’s representatives facilitating the training aimed at encouraging students to embrace savings culture from an early age.World Savings Day is celebrated on October 31 every year and it is intended to promote the importance of savings while increasing public awareness on the importance of savings.
This year’s World Savings Day, observed on October 31st, 2023 was themed “Conquer your Tomorrow” to emphasize the role of savings in a financially secure future.
Some of the participants of World Savings Day training at Cedars Schools, Awka
In Nigeria, the Central Bank of Nigeria, Banker’s Committee and Money Deposit Banks in concert with Junior Achievement Nigeria, coordinates the activities for World Savings Day to engage the participation of Pupils and Students across primary and secondary schools nationwide. -
Navy Ship BEECROFT Thwarts Stowaway Attempt On Container Vessel NATAL
The Nigerian Navy Ship BEECROFT’s patrol team has once again demonstrated its commitment to maritime security by successfully preventing eight stowaways from embarking on an illegal voyage aboard the Container Vessel NATAL, which was en route to Abidjan.
In a display of remarkable vigilance, the patrol team boarded the vessel at Lagos Anchorage on November 3, 2023, at approximately 0840 hours, following reliable intelligence.The team, under the leadership of Commodore Kolawole Olumide Oguntuga, Commander NNS BEECROFT, took swift and precise action to apprehend the eight stowaways who had concealed themselves inside the vessel’s rudder compartment. Their intervention ensured that the individuals were not subjected to life-threatening conditions during the extended voyage or exposed to other security risks associated with unauthorized access to such facilities.
The individuals were identified as follows: “Jerry Benjamin 22 years old, Ben Tony 19 years old, Victory Ekemele 16 years old, Ike Destiny, 17 years old, all hailing from Delta state, Ebuka Solomon 25 years old, Christian Eze 26 years old both originating from Enugu state, James Vincent, 25 years old, from Edo state, David Abamiyo 27 years old from Ondo state”In accordance with established protocols, the stowaways were seamlessly handed over to the Nigeria Immigration Service (NIS) for further necessary actions.
This successful operation reflects the unwavering commitment of the Nigerian Navy in carrying out its constitutional role and underscores the dedication of the Nigerian Navy under the esteemed leadership of Vice Admiral EI Ogalla, Chief of the Naval Staff. Their focus on ensuring a secure maritime environment contributes to creating a conducive atmosphere for legitimate business operations, which, in turn, fosters the economic prosperity of the nation.
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Inspector General of Police Redeploys CP Mohammed Barde Ahead of Imo Gubernatorial Election
In anticipation of the upcoming gubernatorial election in Imo state, scheduled for November 11, 2023, the Inspector General of Police (IGP) Kayode Adeolu Egbetokun, Ph.D., NPM, has made a strategic decision to redeploy the Commissioner of Police (CP) Mohammed Barde from his current post in the state to the Force Headquarters for a special duty assignment.
This pivotal development underscores the commitment of the Nigerian Police Force to maintain the highest standards of impartiality and lawfulness throughout the electoral proceedings. It is essential to clarify that the redeployment of CP Mohammed Barde should not be construed as an indictment of his performance, but rather as a part of a broader strategy to enhance security measures, enhance transparency, and safeguard the integrity of the electoral security management.
The IGP has made it abundantly clear that his primary objective is to provide a secure environment for all participants in the electoral process, including political parties, candidates, and the general public. The police force, along with other security agencies, is committed to ensuring that all stakeholders cooperate and adhere to the law, thereby fostering a smooth and successful election while preserving the democratic principles that underpin our nation.
This move signifies the dedication of the Nigerian Police Force to promoting peace, security, and the sanctity of the rule of law. It is a proactive measure aimed at reassuring the public and political actors of the force’s commitment to delivering a free, fair, and credible electoral process in Imo state.
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Polaris Bank And Alleged Loan Losses To Ex-Directors Without Collaterals
A recent report circulated by some sections of online media, titled “Polaris Bank loses N26bn loans granted to 6 ex-directors without collaterals,” has raised several claims related to figures, interpretations, and banking practices. This article aims to provide a thorough fact-check and analysis of the claims made in the report.
Claim 1: Polaris Bank has lost N26.005 billion worth of loans granted to 6 ex-directors, mostly without collaterals.
This claim is challenged on the basis of a lack of understanding of accounting principles and an inaccurate interpretation of the bank’s financial reports. The story was based on the audited accounts and reports for the year ending December 31, 2022, which were approved on March 20, 2023. The 2021 insider credit status report listed eight directors with total outstanding loans of N25.827 billion, while the 2022 status report showed that four directors had fully repaid their loans. The 2022 report indicated a total of N31.646 billion in insider credits related to the four remaining ex-directors. This clearly contradicts the claim that the bank has lost N26.005 billion in loans.
It’s important to note that this report also mentions a significant increase in one ex-director’s loan, Jason Fadeyi, due to accrued interests and foreign exchange rate fluctuations for a foreign currency-denominated loan. The report highlights that this particular loan had a perfected collateral in the form of a debenture of the company’s assets. The loan was also syndicated with eight banks, and the collateral was managed by FBN Trustees.
Claim 2: As of December 31, 2022, total outstanding loans owed by these ex-directors of Polaris Bank amounted to N57.473 billion.
This claim is questioned for failing to consider the comparative reporting basis. The reporter arrived at the N57.473 billion figure by simply adding the total outstanding insider credits in 2021 and 2022. However, the story overlooks the fact that these are comparative tables and doesn’t account for the fact that some loans were carried forward from the previous year. Therefore, the claim of N57.473 billion in outstanding loans is not accurate.
Claim 3, 4, 5, 6, 7, 8: Claims about specific loans by ex-directors without repayment.
These claims are rebutted by the bank’s 2022 audited report, which shows that some ex-directors had indeed repaid their loans. The report also provides explanations for changes in loan amounts, such as accrued interests and foreign exchange rate fluctuations. Notably, one ex-director’s loan was syndicated and had a collateral debenture. It is also emphasized that one ex-director’s loan was fully paid in February 2023, prior to the board’s final approval of the accounts.
Claim 9: Collateralization of loans.
This claim is challenged for misleadingly suggesting that loans without collaterals are unusual or questionable. The report fails to acknowledge that both secured and unsecured loans are standard in banking practices. Unsecured loans are typically based on subjective assessments of a customer’s creditworthiness and goodwill. The story doesn’t consider that banks often offer unsecured loans based on their internal guidelines.
Claim 10: Insiders.
The report’s characterization of insider transactions in banks is contested. The story fails to recognize that both the Banks and Other Financial Institutions Act (BOFIA) and Central Bank of Nigeria (CBN) Prudential Guidelines provide provisions for insider-related transactions. Insider loans are guided by specific regulations, and banks must adhere to these regulations.
Claim 11: Classification of loans.
The story’s classification of loans as “lost” is criticized for not understanding the banking terminology related to loan classification. Loans are categorized based on specific timelines, and a loan classified as “lost” doesn’t necessarily mean it won’t be recovered. This classification is a reference to credit risk management and not an absolute statement of the loan’s recoverability.
In conclusion, the claims made in the report “Polaris Bank loses N26bn loans granted to 6 ex-directors without collaterals” are found to be erroneous and misleading. The report’s failure to accurately interpret financial reports and its lack of adherence to banking regulations raise questions about its credibility and motive.
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Nigerian Army College of Logistics And Management Inaugurates The Junior Leadership, Staff Officers Course 2/23
In a significant ceremony held on Friday, September 3, 2023, Brigadier General Wisdom Etuk, the Commandant of the Nigerian Army College of Logistics and Management (NACOLM), inaugurated the Junior Leadership and Staff Officers Course (JLSOC) 2/23.
The course consists of 171 students from various Corps and Services and marked a pivotal event for these aspiring leaders. The inauguration took place at the prestigious Tukur Yusuf Buratai Hall, located at NACOLM’s permanent site in Ojo, Lagos.Major General Hassan Tafida, Corps Commander of the Nigerian Army Electrical and Mechanical Engineers and a member of the College Board of Governors, graced the occasion as the Special Guest of Honour (SGOH) and Guest Lecturer.
He expressed his delight at being part of the event and delivered the Inaugural lecture titled: “The making of an effective leader and staff officer for the joint operating environment.”General Tafida’s lecture covered various aspects of tactical-level officers, the contributions of JLSOC to the development of tactical-level officers, and field observations related to staff-trained tactical-level officers.
In his inaugural address, Brigadier General Etuk disclosed that NACOLM was established in December 2002 with an initial mandate to train Logisticians. However, with the expansion of the courses offered at the College, including leadership and staff officers courses, the mandate was modified.NACOLM’s new goal is to produce efficient Logisticians and staff-trained officers equipped with the necessary leadership skills to effectively perform their duties in both joint and combined operations at various formations and higher levels. These officers are expected to utilize contemporary management concepts and techniques in their roles.
General Etuk emphasized that the JLSOC will run for approximately 23 weeks, highlighting that the course is comprehensive and time is of the essence.He stressed the importance of efficient time management and planning, emphasizing that time is a valuable resource not to be taken for granted.
The Commandant encouraged the students to collaborate harmoniously and engage in intellectual dialogue and interactions.
He also issued a caution about plagiarism, urging the students to maintain originality in their submissions and properly acknowledge any work they consult to avoid academic fraud.General Etuk underlined the College’s strict stance against plagiarism and its commitment to taking severe action against any violations.
General Etuk expressed his gratitude to the Chief of Army Staff (COAS), Lieutenant General Taoreed Lagbaja, for the continuous support provided to the College.
He also congratulated the students on their selection to attend the course.
The event’s highlights included the inspection of the Quarter Guard by the SGOH, the Inaugural address and lecture, a group photograph, the exchange of souvenirs, and a light refreshment at the NACOLM Officers’ Mess in Ojo.
The event saw the presence of Commandants of various Nigerian Army Schools, Commanders, Commanding Officers within Lagos state, Deputy Commandant/Director of Studies of the College, Brigadier General JIB Manjang (represented by the Acting Director of Management, Leadership, and Staff Studies, Colonel S Julius), Director of Administration at NACOLM, Brigadier General OJ Majebi, Chief Instructors, Members of the Directing Staff, Administrative Staff, and student officers, among others. The event concluded successfully without any hitches.
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GUBERNATORIAL ELECTIONS: IGP Orders Distribution Of New Vehicles, Logistics For Off-Cycle Elections In Bayelsa, Imo, And Kogi States
In anticipation of the forthcoming off-cycle Gubernatorial elections in Bayelsa, Imo, and Kogi States, scheduled for November 11, 2023, the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, Ph.D, NPM, has taken proactive measures to ensure the smooth conduct of the elections.The IGP has ordered the distribution of an additional 220 operational vehicles, which include water cannons, Armored Personnel Carriers, helmets, bulletproof vests, tear gas canisters, and other essential logistics to the three affected states. These resources are intended to bolster security arrangements for the elections.
Prior to this, the Inspector-General of Police had organized specialized training sessions for police officers who will be responsible for security management during the forthcoming elections.He also sought the approval of the Federal Government for the payment of allowances and the provision of necessary support to enhance the morale of the officers during their operations.
IGP Egbetokun has issued a stern warning to all stakeholders in Bayelsa, Imo, and Kogi States to prioritize peace, uphold the rule of law, and exhibit law-abiding behavior throughout the election process.
He emphasizes that the Police and other security agencies have been put on high alert to prevent any unruly acts that could disrupt the elections in any of the three states.
These proactive measures and warnings from the Inspector-General of Police are aimed at ensuring that the off-cycle Gubernatorial elections proceed smoothly, peacefully, and in compliance with the rule of law. -
Tiv Youth Organization Nominates Distinguished Odita Sunday For Awards, Invitation To End-Of-Year Lecture, Award Night
The Tiv Youth Organization (TYO), a prominent and long-established youth group, is set to host a significant event that celebrates the contributions of individuals who have positively impacted the Tiv Community, especially in the Federal Capital Territory (FCT) Abuja. This event, known as the TYO End-of-Year Lecture/Award Night, promises to be a memorable occasion for all attendees.
In recognition of their outstanding efforts, the TYO has nominated several distinguished individuals for prestigious awards. These nominations are a testament to the remarkable contributions these individuals have made to the growth and development of the Tiv nation and its people.
Founded in 1988, TYO is a well-respected youth organization with branches in all 36 states of Nigeria and the FCT. Its mission is to honor and celebrate the achievements of Tiv people and friends of the Tiv nation who have made significant positive contributions to the community.
The event, in addition to acknowledging excellence, will feature a thought-provoking public lecture. The lecture will delve into a matter of critical importance, not only to Benue State but to the entire nation. The theme of the lecture is “Internal Displacement; Impact on Food Security, National Security, and Unity.”
Notably, the guest speaker for this enlightening lecture will be Professor Ukertor Gabriel Moti, a distinguished academic from the University of Abuja.
Event Details
-Date: November 25, 2023-Venue: Château De La-ray & Hotel, No. 8, Bissau Street, Along Wuse Market Road, Wuse Zone 6, FCT Abuja.
-Time: 3:00 PM
It is worth mentioning that the current TYO leadership assumed office on July 8, 2023, at the National Youth Council, Arts and Culture Complex in Garki-Abuja.
Additionally, the event will feature the unveiling of the TYO Abuja International News Magazine, a new platform that promises to be a valuable resource for news and information related to the Tiv community.
The TYO extends a warm invitation to all well-wishers, supporters of the Tiv Community, and members of the public to join this momentous occasion. Your presence will enhance the significance of the event, and your support is highly valued.
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Nigeria Customs Commences Two-Day Training On Geospatial Technology For Staff
…Reaffirms Dedication to Tackling Economic Sabotage
The Nigeria Customs Service, under the leadership of Comptroller-General Bashir Adewale Adeniyi MFR, has taken a substantial step towards modernization and operational enhancement. Recently, the Comptroller-General launched a crucial two-day workshop focusing on GEOSPATIAL techniques. This initiative aims to equip officers and personnel of the service with the knowledge and skills necessary to fortify border security and invigorate Nigeria’s economic prospects.
The initiation of this training program serves as a testament to the unwavering commitment of the Nigeria Customs Service to elevate its operational efficiency. It underscores the organization’s dedication to leveraging advanced technology in facilitating legitimate trade while vigorously combating smuggling and other illicit activities that pose a threat to the nation’s economic interests.
Representing the CGC at the launch, Deputy Comptroller-General of Customs, Sa’idu Galadima, highlighted the pivotal role that GEOSPATIAL techniques will play in offering officers a practical grasp of border security. He underscored the tangible benefits this will bring to Nigeria’s economy, emphasizing the Comptroller-General’s strong support for technological advancements.
Assistant Comptroller-General of Customs, Kikelomo Adeola, who oversees ICT and Modernization, provided further insights into the significance of introducing GEOSPATIAL technology training for Customs officers.
She elaborated on how this training will revolutionize the approach to combating smuggling, rendering traditional methods, such as pursuing smugglers in the field with firearms, obsolete. The introduction of GEOSPATIAL technology will empower Customs personnel to monitor and mitigate smuggling activities directly from their offices.
Ms. Adeola emphasized that upon the completion of the workshop, the Nigeria Customs Service will possess the capability to detect and address illegal and unapproved routes exploited by smugglers along the nation’s borders. The GEOSPATIAL program will deliver real-time intelligence, ensuring the precise and timely execution of anti-smuggling operations.
“This training will significantly bolster Customs’ steadfast commitment to improving trade in Nigeria. GEOSPATIAL technology not only equips our officers with the tools to combat smuggling more effectively but also provides accurate and timely intelligence to ensure the success of anti-smuggling operations,” Ms. Adeola stated.
The introduction of GEOSPATIAL technology represents a substantial leap forward for the Nigeria Customs Service in its mission to secure the nation’s borders, promote legitimate trade, and firmly confront economic saboteurs and individuals involved in smuggling activities.
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NIMASA DG Jamoh, Prof. Gunter Pauli Confer On Blue Economy Possibilities In Nigeria
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh held a strategic meeting with Professor Gunter Pauli to explore the vast possibilities within Nigeria’s Blue Economy sector.
L-R: Professor Pauli Gunter, Director General, Nigerian Maritime Administration and Safety Agency, NIMASA Dr. Bashir Jamoh; and Mr. Gelele Olushola, during a meeting on the possibilities of Blue Economy in Nigeria that was held in Abuja.
This important gathering took place in Abuja and was organized as a follow-up to the earlier discussions between the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, and Professor Pauli. During the previous meeting, the significance of engaging experts like Gunter Pauli to support the development of the Ministry was emphasized.Dr. Jamoh underscored the value of Professor Pauli’s involvement in engaging key stakeholders within the newly established Ministry of Marine and Blue Economy.
He expressed his optimism that this collaboration would lead to the formulation of sound policies necessary for a successful launch of the Ministry, facilitating sustainable resource utilization from Nigeria’s waters.
“I had the opportunity to meet the man who pioneered the formulation of global policies related to the Blue Economy, and we have explored various avenues to harness the resources within Nigerian waters sustainably.He has shown a strong willingness to collaborate with the Ministry of Marine and Blue Economy in crafting policies that will enable Nigerians to benefit from the establishment of this Ministry,” Jamoh affirmed.
In response, Professor Gunter Pauli reiterated his commitment to supporting the Nigerian Government in developing policies that would optimize the Blue Economy sector for the benefit of Nigerians. Prof. Pauli, renowned for his expertise as an economist and entrepreneur, is the creator of Blue Economy models that have gained worldwide recognition.
He has previously collaborated with several countries to formulate policies that promote the growth and sustainability of their respective blue economies.The discussions between NIMASA DG Jamoh and Prof. Gunter Pauli symbolize a significant step toward unlocking the potential of Nigeria’s Blue Economy. Their joint efforts aim to harness the nation’s aquatic resources in an environmentally sustainable and economically beneficial manner.
L-R: Director General, Nigerian Maritime Administration and Safety Agency, NIMASA Dr. Bashir Jamoh, OFR; Professor Gunter Pauli and other stakeholders during a meeting on the possibilities of Blue Economy in Nigeria that was held in Abuja.