Finance
DMO to Issue N250bn Sukuk for Road Projects
The Debt Management Office says it is set to issue another sovereign Sukuk this year for an expected amount of N200bn to N250bn to finance critical road projects across the country.
It disclosed this in a statement on its website on Tuesday with the title ‘Towards financing infrastructure: Debt Management Office to issue another sovereign Sukuk.’
The DMO said it had already appointed transaction parties through the open competitive bidding process for the issuance of this fourth sovereign Sukuk.
The DMO stated that it commenced the issuance of Sukuk in September 2017 as a strategic initiative to support the development of infrastructure, promote financial inclusion and deepen the domestic securities market.
Subsequent to the debut sovereign Sukuk in 2017 in which N100bn was raised to finance the rehabilitation and construction of 25 road projects across the six geopolitical zones, the DMO stated that it issued a sukuk for N100bn in 2018 and another for N162.557bn in 2020.
It said the proceeds of these two Sukuk issuances were also deployed to 28 and 44 road projects, also in the six geopolitical zones.
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Customs Corner
Nigeria Customs Service Hosts 3-Day Workshop on Data Generation, Analytics
Author: Ruth Akata, Abang Maryrose.
The Nigeria Customs Service (NCS) has inaugurated a three-day capacity-building workshop on data generation, analytics, and storage on Monday, 13 May 2024, at the Nigeria Customs Command and Staff College (NCCSC), Gwagwalada to enhance the service’s capabilities in modern customs operations through improved data handling.
ACG Malanta Yusuf, representing the Comptroller-General of Customs (CGC), Adewale Adeniyi, emphasised the critical role of data in strategic planning and operational efficiency. He also highlighted that effective decision-making relies heavily on robust data generation and analytics. He stressed that historical data is essential for organisations like Customs, responsible for border management and trade facilitation.
“This workshop is designed to equip officers with comprehensive knowledge in various aspects of data management.” He said.
ACG Yusuf encouraged attendees to engage fully, noting that the training would enhance their ability to understand smuggling networks, identify high-risk threats, and gather intelligence. “This practical learning experience aims to empower you in your roles, contributing to the overall success of the NCS.” He emphasised.
He also highlighted the importance of innovative solutions and the integration of geospatial intelligence into current data analysis practices. He called on officers to approach the workshop enthusiastically, emphasising that the skills acquired would foster professional development and operational efficiency.
Expressing gratitude, Yusuf thanked CGC Adeniyi, the organisers, and the participants for their contributions to the session. He hoped the training would serve as a catalyst for continuous learning and improvement within the NCS.
Customs Corner
CGC Adeniyi Decorates Newly Confirmed Members of Customs Management Team
Author: Muhammad Bashir.
The Comptroller-General of Customs, Adewale Adeniyi, on Wednesday, 15 May 2024, decorated thirteen (13) members of his management team with their new ranks at the Nigeria Customs Service Headquarters in Abuja amidst calls to redouble their commitment and dedication to the success of the service.
In a press statement signed immediately after the ceremony by Chief Superintendent of Customs Abdullahi Maiwada, the spokesman of the service revealed that CGC Adewale Adeniyi decorated 5 Deputy Comptroller-Generals and 8 Assistant Comptroller-Generals following the approval of their appointments by the Nigeria Customs Service Board (NCSB) on Tuesday, 14 May 2024.
According to the statement, their appointment and approval followed the due process of the Federal Character Commission’s laws and principles of seniority. Most importantly, their appointment was in view of their exemplified dedication and commitment to the service.”
Shortly before decorating the 13 newly promoted officers, the CGC charged them to double their devotion and determination to promote the Nigeria Customs Service selflessly.
While urging them to intensify their contribution to the fight against smuggling, revenue generation and trade facilitation, the customs boss also enjoined the new heads of departments to ensure they have a shared vision on how to fulfil the mandate for each department.
He said, “I must emphasise, as usual, that this level of your placement in the service requires your utmost discipline at all times. You must conduct yourselves in a manner that sets a good example for the officers behind you.”
The decorated DCGs are Suleiman Bomai as DCG/Commander Training and Doctrine Command; Bello Jibo as DCG in charge of Enforcement Inspection & Investigation; Beatrice Nwafor as DCG in charge of Excise, Free Trade Zone & Industrial Incentives; and Caroline Niagwan as DCG Tariff & Trade.
The newly confirmed Assistant Comptroller-Generals of Customs are Baba Imam as ACG Board, Adekunle Oloyode as ACG Trade & Tariff, and Sambo Dangaladima as ACG/Zonal Coordinator Zone ‘B’. Abdulrazaq Abdulazeez as ACG/Zonal Coordinator Zone ‘D’; and Sai’du Yusuf as ACG Human Resource Development.
Others are NP Umoh as ACG Training and Doctrine Command, Charles Obih as ACG/Zonal Coordinator Zone ‘C’, and Ciroma Sulaiman as ACG Strategic Research and Policy.
Customs Corner
Ogun I Customs Intercepts Contraband Worth N380 Million in 1Month
Author: Abass Quadri.
The Nigeria Customs Service, Ogun I Area Command, has recorded a milestone with the interception of contraband worth N380 million in one month.
Addressing newsmen at his maiden briefing on Thursday, 9 May 2024, the Customs Area Controller (CAC), Comptroller James Ojo, said the achievement was recorded within 23 days of his assumption of office.
“Since I took over the leadership of the Command on 16 April 2024, we have hit the ground running and to the glory of God, it is with pleasure that we announce to you our anti-smuggling exploits and other achievements recorded.”
“So far, the seizures under review include 90 sacks & 1,309 parcels of Cannabis Sativa, 1,596 pieces of foreign used tyres, 2,922 bags of foreign parboiled rice, 32 bales of used clothes, 1,603 cartons of frozen poultry products, and 22,600 litres of Premium Motor Spirit among others”. He Stated.
The CAC further explained that the cumulative Duty Paid Value (DPV) of the seized items amounts to N380,370,911.00, adding that the intelligence-driven interception took place at different locations within Ogun State with the strategic efforts of the intelligence Network.
He urged stakeholders to remain compliant and assured of the Command’s maximum cooperation.
“Let me use this medium to encourage our compliant traders to remain steadfast and be assured of our maximum cooperation. Our doors are wide open for consultation and required support”. He stated.
The CAC warned economic saboteurs to avoid smuggling activities and embrace legitimate trade. “Anyone caught in the act will be made to face the wrath of the law”.
Comptroller Ojo appreciated the Comptroller General of Customs, Adewale Adeniyi and his management for their support, which has helped motivate gallant officers in executing their duties as well as critical stakeholders in playing their part.
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