Buhari Will Not Implement Budget- Presidency Source

By Bayo Bernard Barely 24 hours after President Muhammadu Buhari signed the 2018 budget, there are indications that Presidency will not implement the document endorsed on Wednesday by the president after it was passed by the National Assembly. President Buhari signed the N9.1 trillion estimates exactly 12: 05 pm on Wednesday, June 21, 2018.  The federal government had proposed an N8.1 trillion budget in document President Buhari set before the National Assembly in November 7, 2017. The signing of the budget came eight months after President Buhari laid the document…

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CRFFN Election: Fight To Finish

By Bayo Bernard Business Editor The bickering appears to have stopped for the moment. The die is now cast for election into the Governing Council of Council for the Regulation of Freight Forwarders in Nigeria, CRFFN. The Mike Jukwe led council is trying to prove critics wrong that it’s incapable of organizing a credible, fair and fair election for the body. if the council succeeds the jinx that nothing good can come under Jukwe administration would be broken, having presided over a chaotic CRFFN in the last few years. The…

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Electricity Metering: Not For DISCOs

By Oji Odu With earlier partial failure by Federal Government to meter the unmetered electricity consumers, despite billions of grant to the electricity Distribution Companies (DISCOs), there is a lot of skepticism to the success of the new N37 billion grant by government to the DISCOS to provide meters to their unmetered customers through an undisclosed private operator so as to solve the prolonged issue of crazy billing. To many electricity consumers, this new intervention is dead on arrival. This is because there is no means of compelling the DISCOs…

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FOU: An Herculean Task

By Stephen Ubanna Barely one week after Ibrahim Jibrin, the minister of  State Environment, visited Federal Operations Unit, FOU, , Zone A, Ikeja, to see things himself with the officials of Convention for International Trade on Endangered Species, CITES, officials  from Geneva, Switzerland, and a promise to see Hameed Ali, a retired Colonel, and Comptroller General, Nigeria Customs Service, NCS,  on the need to reward officers and men of the Service who risk their lives to make spectacular seizures found in  Customs warehouses at Ikeja, it galvanised the officers in…

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How Buhari lost N2.7 trillion to a U.S firm out of spite for Jonathan

By Uche Mbah A recent judgement by a United States indicted Nigeria by a $6.59 billion arbitral award, plus $2.30 billion interest accruable with time. This translated to a total of N2.7 trillion at the Central Bank of Nigeria’s rate of N306 to one U.S Dollar.  In a judgement given in a case that spanned the regime of former president Goodluck Jonathan and the Buhari administration, the case was finally concluded in a U.S. District Court in Washington D.C. recently. According to Premium Times, an online portal, the country would…

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Customs: Ministerial Applauds

By Stephen Ubanna Until last Tuesday, May 29, 2018, there were no signs that Ibrahim Usman Jibrin, the Minister of State, Environment would be visiting Apapa, Tincan Island, Federal Operations Unit, FOU, Zone A, Ikeja and Oyo/Osun Commands on a fact finding mission. It was business as usual at the Commands as officers and importers with their agents went about their normal routine duties at the seaports and the land border areas. This is evident going by the interception of  about 780 ”50” kg bags of foreign parboiled rice smuggled…

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Fidelity Bank Records N20bn Profit

By Bayo Bernard Top new generation bank, Fidelity Bank Plc has surpassed last year profit margin with over N8 billion. The management of the bank disclosed this at the recent annual general meeting held in Lagos. According to the record made available to the magazine, the bank ended the 2017 fiscal year with 83.5 percent increase in profit after tax to N20.3bn from N11.1bn in 2016. The managing Director of the bank, Nnamdi Okonkwo said the phenomenal profit margin recorded by the bank came despite high inflationary environment in the…

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Daring Waterways Smugglers?

By Stephen Ubanna The  inability of Sarki- Kebbi Mustapha , Comptroller of Western Marine Command, WMC, to effectively  mobilise his officers  to police the waterways and Creeks in the south west geo-political region  appears to have given a leeway to  the Federal Operations Unit, FOU, Zone A, Ikeja, Lagos Roving team,  to step in . Sarki-kebbi  and hiss officers may have failed in their responsibility  to adequately  police the waterways and Creeks in Lagos and other states in the  region had been attributed to lack of functional  h Crafts. A…

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Dearth Of Scanners At The Ports, Worsened By Unusual Server Break Down

By Stehen Ubanna Those who think that the  $120 million scanner equipment inherited by the Nigeria Customs Service, NCS, from Cotecna, SGS Scanning Nigeria Ltd and  Globascan Systems Nigeria Ltd, the former service provider for its operations at the eaports, airport and land border stations, in 2013,   are still  in good working condition  would be disappointed. This is because virtually all the inherited scanners had broken down , thus making mandatory for imported  goods to be physically examined at the ports and land border stations in the country. Before the…

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Customs: Investors Blame Customs For Rice Smuggling

By Bayo Bernard Elephant Group Plc, a major local rice producer in the Nigeria is worried that its huge investment in local rice production is heading for jeopardy due to the illegitimate activities of rice smugglers. Thousands bags of rice were smuggled into the country last year according to records made available to the magazine by the Nigeria Customs Service, NCS. At least seven million metric tons of rice is consumed in Nigeria yearly, more than 60 percent of that number will be smuggled into the country this year. The…

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