Economy
Customs Intercepts Goods Worth N22.3bn in Lagos
The Nigeria Customs Service (NCS) has intercepted pangolin scales and elephant tusks worth N22.3 billion in Lagos.
The Comptroller General of Customs, Col. Hameed Ali (Rtd.), said this while addressing newsmen on Wednesday.
He said the pangolin scales (196 sacks) weighed 17,137.
44 kilograms; elephant tusks, 870.44 kilograms and pangolin claws, 4. 60 kilograms.Ali added that the seized items were evacuated at a location on eastern side of Ijeoma Street, Lekki, Lagos State, after proper examination.
He pointed out that three suspects had been arrested in connection with the seizure.
He said NCS’s extensive collaboration yielded credible intelligence that triggered swift and comprehensive actions by the Customs Intelligence Unit and Headquarters Strike Force.
According to him, the seizure is in line with Section 63 “e” and “g” of Customs and Excise Management Act (CEMA), Cap 45 LFN 2004 as amended.
He added that it fell under Export prohibition schedule VI of the extant Common External Tariff, which prohibited their exportation.
“Nigeria is a signatory to CITES convention, hence cannot be used as a transit hub. This feat is a testimony of what sincere collaboration between nations can achieve for our world, and individual nations in particular.
“Already three suspects who are non-nationals have been arrested. They are: Mr Traore Djakonba, Mr Isiak Musa and Mr Mohammed Bereta.
“The Kingpin, Mr Berete Morybinet, is on the run thinking he can evade the long arm of the law.
“Security agencies at all entry and exit points are on red alert to track and arrest him to face justice. He is, therefore, advised in his interest to surrender himself to the NCS,” he said.
The Customs boss said the suspects arrested would soon have their date in court, as NCS would leave no stone unturned to bring them to justice.
He said the Service would extend the same treatment to any person or organisation remotely connected to any illegal wildlife trade.
“While thanking our partners, especially the wildlife justice commission, let me give assurances of the Service’s determination to treat every information with utmost confidentiality and appropriate action to stem this tide of illegality.
“Deforestation and depletion of wildlife, especially the endangered species, have been a global concern with nationals’ collaboration, sharing intelligence and expertise that would stamp out indiscriminate killings of endangered species.
“In line with global best practices, NCS has been in robust collaboration with embassies of US, UK, Germany with other quarterly meetings that provide a platform for shared experiences,” he said. (NAN)
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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