BUSINESS
Customs Posts N1.003trn in 2021 Half-year, 2,333 Seizures with DPV of N4.42b
From Anthony Nwachukwu, Lagos
The Nigeria Customs Service (NCS) said it generated the sum of N1.004
trillion for the 2021 half-year (January to June), beating its N713.55
billion for the corresponding period of 2020 by N290.2 billion.
And following its Joint Border Patrol and intelligence sharing with
the customs administrations of Benin and Niger on cross-border crimes
and criminalities, the NCS made a total of 2,333 assorted seizures
with Duty Paid Value (DPV) of N4.
Some of these seizures included arms and ammunition, illicit drugs
and food items like rice, vegetable oil, among others that could have
had grave consequences on national security and economy, the NCS
Public Relations Officer, DC Joseph Attah, disclosed.
In a statement Thursday on the agency’s performance half-year, he
attributed the trillion-naira mark in six months to the “resolute
pursuit of what is right and willingness to adapt to changes brought
about by global health challenges occasioned by Covid-19.
Attah described the achievement as “unprecedented” in the agency,
adding that the “revenue profile continues to increase due to ongoing
reforms that exploits the potentials of technology through robust
automation of the processes and procedures.”
Others, according to him, included deployment of officers “strictly
based on the standard operating procedure; robust
stakeholder-sensitisation resulting in more informed/voluntary
compliance; and improved working relationship with the National
Assembly.”
The agency restated its firm desire “to generate more revenue than
what is set for it, given favourable environment. NCS will always be
willing and happy to break its records as it is in this case of over
N1 trillion in six months.”
Meanwhile, with a total of 58 private aircraft owners having
complied and more indicating interest to do so, the NCS said it has
extended by 14 days (July 7 to 20, 2021) the deadline for verification
of private aircraft owners.
The exercise was previously announced for June 7 to July 6, 2021.
According to Attah, infractions discovered during the exercise
included “breach of Temporary Importation agreement and
non-appropriate payment of duty and taxes.”
However, defaulters “have indicated interest to pay, with some
already commencing the process by making appropriate declarations.
“Considering the level of response and indications for more, the
Comptroller-General of Customs, Col. Hameed Ibrahim Ali (rtd), has
extended the verification period by 14 days – July 7 to 20, 2021.”
Afterwards, appropriate sanctions as contained in the Customs and
Excise Management Act (CEMA) Cap C45 LFN 2004, as amended, will be
applied.
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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