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UEFA champions league prize money to be cut  

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UEFA champions league prize money to be cut  

According to reports, Champions League and Europa League prize money will be cut over the next five seasons as Europe’s soccer governing body, UEFA grapples with the financial impact of the COVID-19 pandemic.

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UEFA has informed its member associations that they lost 514 million pounds following the reduction in both television and sponsorship revenues after delays in the knockout stages last season.

The two competitions were suspended in March when the pandemic wreaked havoc on the global sporting calendar and only resumed in August after the top leagues in Europe wrapped up their respective seasons.
The knockout stages were staged behind closed doors at neutral locations and each round’s tie was also reduced to a single fixture instead of the usual home-away format.

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Agriculture

Customs Pledges to Boost Nigeria’s Manufacturing Sector Through Trade Facilitation

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Author: Lucy Nyambi.

The Nigeria Customs Service has pledged to boost Nigeria’s Manufacturing Sector through Trade Facilitation.

The Comptroller General of Customs (CGC), Adewale Adeniyi, made the commitment at the 53rd Anniversary and Annual General Meeting of the Manufacturers Association of Nigeria (MAN) on Wednesday, 14 August 2024, in Lagos.

Speaking at the event, the CGC acknowledged the role of the service in transforming national economic objectives into feasible outcomes.

He said, “Customs is a key agency at the forefront of trade facilitation and regulatory compliance, we play a vital role in translating national economic objectives into tangible outcomes. We will, therefore, explore all customs swift adaptation to new directives, including tariff adjustments and Trade Facilitation measures to impact the manufacturing sector directly”.

He stated the service’s commitment to supporting the growth and competitiveness of Nigeria’s manufacturing sector while also emphasising the importance of compliance and integrity in partnerships.

He pledged to work with the manufacturing sector to combat illegal trade. “We are going to put a lot of emphasis on issues related to the enforcement of brands and standards, and we will not allow counterfeit products in our markets. This commitment shows that we understand what manufacturers need and will be here to help the industry grow”.

“However, we need you to be honest and follow the rules. Customs is ready to work hand in hand with you to make our country a manufacturing giant”, the CGC stressed.

Meanwhile, the Customs Boss played host to the Managing Director (MD) of the Nigeria Export Processing Zones Authority (NEPZA), Dr. Olufemi Ogunyemi, at the headquarters of the Federal Operations Unit (FOU) ‘A’.

The MD proposed a tripartite committee to seek out issues relating to the free trade zones while also imbibing the culture of collaboration.

“We at NEPZA see Customs playing a vital role in free trade zones, striking a balance between trade facilitation and regulatory enforcement. By leveraging technology and collaboration, customs can enhance the benefits of free trade zones to drive economic growth and global connectivity”, Ogunyemi stated.

Responding, CGC Adeniyi pledged to work with NEPZA in the interest of the special economic zones.

“We already have a committee headed by the DCG comprising a team from Customs, NEPZA and the Secretariat provided by the special economic zone association. Their mandates include issues that require interpretation of legal provisions among others”, Adeniyi stated.

He assured an open-door policy to dialogue with understanding to stimulate economic development.

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Customs Corner

Customs, Navy, Join Forces to Suppress Waterway Smuggling in Lagos

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Author: Lucy Nyambi.

The Nigeria Customs Service (NCS) and the Nigerian Navy have joined forces to suppress waterway smuggling in Lagos.

Comptroller Paul Bamisaiye, in charge of the Nigeria Customs Service, Western Marine Command, during a courtesy visit to the Flag Officer Commanding (FOC), Western Naval Command, Real Admiral Mustapha Hassan, on Tuesday, 13 August 2024, solicited the support of the Nigerian Navy in tackling smuggling within the waterways.

He said, “We are here for consolidation, there is this existing synergy between the Nigeria Customs Service and the Nigerian Navy; and the FOC has promised us so many things, and they are even ready to release their boats.”

On tackling smuggling, the Customs Area Controller said the command is unrelenting in suppressing smuggling.

“These people, as we are arresting and dealing with, are also devising new means for their activities, but we are unrelenting, we will match force with them. We are ready, and even with the promise from the FOC, we know that we are good to go,” he stated.

On his part, the FOC, Real Admiral Mustapha Hassan, acknowledged the role of Customs in the development of the blue economy of Nigeria, which, according to him, “is a great source of revenue.”

“When the Western Marine Command tops its job, the sky is the limit. So, based on the bid to collaborate and enhance operations on the waters, we have decided to devise an MOU whereby we can jointly patrol because we have most of the sea-going platforms. The smuggling mainly happens at sea, so we will collaborate and make sure we bring smuggling to an end in Lagos,” he concluded.

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Agriculture

TMP Presents Equipments to CGC Adeniyi, Strengthens Collaboration

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Author: Abra Iruoghene.

The Comptroller-General of Customs (CGC), Adewale Adeniyi, received a customised generator and a bus on behalf of the Service from the Chairman of the Trade Modernization Project (TMP), Saleh Ahmadu, on 5 July 2024, at the Project Management Office domiciled at the
Nigeria Customs Service Management Quarters in Abuja.

CGC Adeniyi expressed appreciation to TMP for the equipment presented to the Service. He said, “On behalf of all officers and men, I appreciate this gesture that TMP has done for us through the presentation of the 250KVA generator and the 13-seater 2024 Toyota Hiace bus.”

Adeniyi disclosed that the Service is aware of TMP’s efforts in providing tools and equipment needed to drive the modernisation program. He said, “We know that computers alone will not work by themselves; they will not effect the desired modernisation that we need.”

He added, “It will require human input, and the working environment of these elements is very important as well as those tools. So, we therefore appreciate these efforts you put in place to help us enhance the working environment and also improve the welfare of these officers.”

Furthermore, he applauded the Trade Modernization Project for being a worthy and dependable partner in their modernisation drive. He noted that the equipment delivered would be put to good use to bring added value to NCS operations.

Additionally, Adeniyi encouraged the officers, from the rank of Assistant Comptroller and Deputy Comptroller, undergoing special training by the TMP in preparation for the management duties of the Service, to be attentive and acquire the necessary knowledge to discharge their responsibilities and take up the task ahead of them professionally.

Mr Saleh Ahmadu, the Chairman of the Trade Modernization Project (TMP), who handed over the equipment, said the bus was for the effective movement of personnel between the headquarters and the TMP office, while the generator was for constant power supply to the management quarters of the NCS. He acknowledged the CG for his continuous support and collaboration.

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