Connect with us

Newsroom

CBN releases N756bn to over 3m farmers to boost food security

Published

on

CBN Stops Forex Sales to Bureau De Change

The Central Bank of Nigeria (CBN), says it has released the sum of N756.51 billion to 3,734,938 smallholder farmers, cultivating 4.6 million hectares of land, to boost the Federal Government’s food security initiative.

Godwin Emefiele, the CBN Governor, made this known while presenting a communiqué from the bank’s recently held, 280th meeting of its Monetary Policy Committee.

Read Also

CBN to sell N722bn treasury bills in Q3’21(Opens in a new browser tab)

OPEC Commends Buhari, NASS on Petroleum Industrial Bill(Opens in a new browser tab)

Emefiele said that N120.24 billion of the sum was extended for the 2021 wet season to 627,051 farmers for 847,484 hectares of land, under the Anchor Borrowers’ Programme.

He said the sum of N121.57 billion was disbursed to 32,617 beneficiaries while for the Targeted Credit Facility, N318.17 billion was released to 679,422 beneficiaries, comprising 572,189 households and 107,233 Small and Medium Scale Enterprises.

The CBN Governor also revealed that the apex bank had invested close to N1trillion to boost the real sector of the economy, covering 251 real sector projects.

He said that the bank’s intervention also spanned health sector support initiatives and electricity distribution.

Customs Corner

Customs MMAC, Western Marine, FCT, FOU Zone ‘B’ Commands Exchange Staff of Office

Published

on

Author: Cynthia Idowu; Lagos.

It’s indeed an era of change for the Nigeria Customs Service as the newly elevated senior Customs Officers have been transferred to various Commands as Customs Area Controllers.

The Murtala Muhammed Airport Cargo Command on the 27th of January welcomed the former Coordinator of the Comptroller-General of Customs Strikeforce Team ‘A’, Sani Yusuf to the Command as the new CAC, while the outgoing, Sambo Dangaladima bade farewell to the Command.

Comptroller M I Yusuf receiving the Staff of Office from Comptroller Sambo Dangaladima, the outgoing Comptroller

Handing over

Ag. CAC Comptroller SD Adamu of the Western Marine, handing over baton to the new CAC Comptroller Salefu

In his remark, Sani Yusuf charged the Officers and Men to sustain their level of discipline and improve the revenue collection of the Command. He sought their maximum cooperation to achieve the set objectives in the area of revenue, export, and anti-smuggling.

“I salute the exceptional achievements of the outgoing CAC and I will always refer to him whenever the need arises,” he said.

Comptroller Suleiman Jaji Bomoi

Comptroller Suleiman Jaji Bomoi delivering a farewell speech after handing over to the new FCT CAC, Comptroller Florence N. OGAR-MODEY

Similarly, Comptroller Salefu took over the realms of affairs of Western Marine Command from the Acting Customs Area Controller, SD Adamu at the Command’s headquarters in Ibafon, Apapa. Lagos.

Salefu who has worked in various Customs formations and most recently at the Department of Strategy, Research and Policy (SR&P) at Customs Headquarters, Abuja beaconed on the Operatives of the Western Marine to see “Leadership” as a constant phenomenon, hence their cooperation to suppress smuggling on the waterways to the barest minimum.

Ag. ACG Hamisu Albashir and Comptroller MI Jalo

Ag. ACG Hamisu Albashir and Comptroller MI Jalo holding the official handing-over Note.

The Federal Capital Territory Area Command, was not an exception as Comptroller FN Ogar -Modey applauded the excellent records set by the predecessor, Comptroller Suleiman Jaji Bomoi, and expressed willingness to also, always consult him whenever the need arises, as she takes over the mantle of leadership of the FCT Area Command.

Comptroller Musa Jalo also got his name imprinted as the 22nd Comptroller of the Federal Operations Unit (FOU) “B” Kaduna.

While handing over the mantle of leadership to Jalo, the outgoing CAC now Ag. ACG Hamisu Albashir charged the Officers/Men of the Unit to be civil and polite while on patrol duties all the time.

“Do not compare leaders because every human has his inherent strength and weakness, always work together as a team and accord the new CAC, all necessary support to move the Command forward” he emphasized.

Continue Reading

Customs Corner

2022: Customs Tincan Island Command Makes N574bn Revenue, N1.8bn Seizures; Facilitates $589m Export

Published

on

Author: Cynthia Idowu; Lagos

The Tincan Island Port Command of the Nigeria Customs Service (NCS) has announced revenue collection of N574,290,210,599.38 from January to December 2022, indicating an increase of N80bn (16.33%) from the N493,682,369,264.35 collected in 2021.

In the area of export, the Command recorded a significant increase in the FOB of Exports in the period under review to the tune of $589,696,648 (N242,365,322,333.00) as against the $496,075,796 (141,985,109,159.00) recorded in the year 2021, which shows a decrease in Tonnage of Export from 1,723,986.8 in 2021 to 336,179.5 in 2022.

The Customs Area Controller, Comptroller Adekunle Oloyede made this known during a press briefing
on Friday at the Command Headquarters in Lagos.

He further disclosed that the increase in revenue was due to the modalities put in place such as the identification of areas of revenue leakages, blocking same, and leveraged on available facilities on the NICIS II Platform for enhanced Risk Management which further enhanced accelerated Customs Clearance Processes, Trade Facilitation and ensured collection of appropriate duties and taxes.

The Command made a total of 38 seizures including 763pkgs of cannabis Sativa weighing 345.1kg with a street value of N714,600,000, 2594 pieces of ammunition, and other prohibited items, with a Duty Paid Value (DPV) of N1,846,372,083.50.

A total of 60 suspects were detained during the period under review and were granted administrative bail while the Command has 8 cases pending in court.

The CAC acknowledged the prominent roles played by the Customs Intelligence Unit, Valuation Unit, Federal Operations Unit, CGC Strike Force, and Customs Police as well as interventions of Sister Regulatory Agencies like the NDLEA, NAFDAC, DSS, SON, the Nigeria Police, and others in ensuring the seizures and detentions were made.

Compt. Oloyede pointed out that the Command also ensured robust and continuous stakeholder engagements and collaboration with all sister government agencies and maritime associations, which led to timely intelligence sharing, utilization, and voluntary compliance with the government’s extant laws by the trading public.

“The Dispute Resolution Committee (DRC) which is a structure put in place by the Command for prompt resolution of Trade Disputes led to a reduction in average clearance time of such issue laden imports”.

Speaking further on the VIN valuation and automation of 846 procedure, he said: “The VIN Valuation has simplified and facilitated the Customs Clearance Process of imported vehicles by providing a uniform, fair and neutral value across the board on vehicles with identical brands, model and year of manufacture in line with the provisions of Article VII of the General Agreement on Tariffs and Trade (GATT) of 1994.

“Regardless, the Command is poised to continue building on the Automation, Simplification, Standardization, and Harmonization of all Customs Processes in line with the Revised Kyoto Convention and international best practices”.

The CAC thanked the
Comptroller General of Customs, Col. Ibrahim Hameed Ali (rtd), and his management, officers and men of the Command, stakeholders, and the media for their support.

He also appreciated sister agencies involved in the export chain with special commendation to the Nigeria Port Authority (NPA) for their seamless collaboration in facilitating the clearance process of export-related cargo at the Tincan Island Port Command.

Compt. Oloyede’s 2023 projection for the Command includes an improved revenue profile, facilitation of legitimate trade, and enhanced capacity and skills of officers and men of the Command.

Continue Reading

Customs Corner

Ag. ACG Yusuf Malanta Hands Over Apapa Command to Comptroller Auwal Mohammed

Published

on

Authorw: Lucy Ulugbe; Lagos.

Newly Promoted Acting, Assistant Comptroller General of Customs Yusuf Malanta has handed over the mantle of leadership of Apapa Command to Comptroller Auwal Mohammed.

Speaking at the handover ceremony which took place at the Command on Friday, the elated out-going Area Controller, Ag. ACG Yusuf Malanta encouraged officers at the Command to extend his successor, Comptroller Mohammed, the same level of support he received while heading the Command.

He described him as a dedicated officer who believes strongly in due process.

“We are now in the era of due process. I know Comptroller Auwal can do it better, he has a much more midas touch”

“I urge the stakeholders to continue to be compliant, the era of cutting corners should stop, go straight and you would be there earlier than you think. Trade can only be predicted when you are compliant” he added.

In response, the new Area Controller, Auwal Mohammed appreciated the outgoing CAC for inheriting a well-structured Command, while also noting that he is ready for the job and prepared to surpass the N1 Trillion revenue generated by the Command in 2022.

“I will make sure we continue to conduct 100% physical examination so that we can account for all cargoes in every container, by so doing, the revenue will be sustained, and when we make the port user-friendly, more volume of trade will come in, and more revenue will be collected and we will surpass the N1 Trillion already achieved”. He said.

As part of efforts to reward excellence, Acg. Malanta presented awards to deserving officers for excellent performance.

“The Service is rewarding those who have played a good role in ensuring that the Customs system is enhanced and compliance is strictly adhered to. However, the fact that your name isn’t called doesn’t mean that your work isn’t recognized. You should continue to blow your trumpets by yourself with exemplary conduct and professionalism”. He said.

One of the recipients of the awards was the public relations officer of the Command, Usman Abubakar.

The awards extended to excellent officers of sister agencies from the National Drug Law Enforcement Agency (NDLEA) and the National Agency for Food and Drugs Administration and Control (NAFDAC).

Continue Reading

Trending