NEWS
Improve risk Management in Trade, Okonjo-Iweala urges Nigeria Customs
The Director- General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has urged the Nigeria Customs Service (NCS) to improve on risk management in its trade operations.Okonjo-Iweala made the call in her virtual address at the Comptroller General of Customs (CGC) conference on Report says that risk management is the systematic process of identifying, assessing, and managing potential risks for secure and efficient flow of goods across borders.
Effective risk management improves security, enhances compliance with regulations, speeds up trade processing, and allows customs agencies to allocate resources more effectively by focusing on high-risk areas, reducing delays, and facilitating legitimate trade. The WTO boss said that in many developed economies, the share of consignments selected for physical inspection was lower than one per cent.“But in Nigeria, it is around 90 per cent with an additional nine per cent of consignments scanned.`Without improving risk management and reducing inspection rates accordingly, speeding up clearance in a meaningful manner will be impossible.“Better risk management will have to go hand in hand with better compliance, feedback from inspections, and less discretion in the part of the officials,“ she said.She said that the move was to ensure that customs rules and regulations were predictable and consistently applied, with effective sanctions.According to the DG, better risk management and information sharing are critical in addressing delays.“Personnel of the NCS should be encouraged to discharge their duties diligently.“The predictability of tariffs and other measures remain limited, as fiscal policies measure often adjust tariffs, and it remains subject to a multitude of factors. “ she said.She said that ambitious goals to strengthen trade were necessary, adding that it also requires ambitious reforms and building coalition of support, which is the aim of the conference.The conference, which began on Tuesday, is scheduled to end on Friday. (NAN)NEWS
Okpebholo Freezes Edo Accounts, Orders Reversal of Ministry’s Name
Gov. Monday Okpebholo of Edo has ordered immediate freezing of all the state bank accounts until further notice.Okpebholo gave the directive in a statement issued by his Chief Press Secretary, Mr Fred Itua, on Thursday in Benin.He warned that non-compliance by commercial banks as well as heads of ministries, departments and agencies (MDAs) would result in severe penalties.
“All bank accounts in all commercial banks are now frozen. Commercial banks must ensure strict adherence and prevent any withdrawal from government accounts until further notice,” the statement said. Okpebholo stated that necessary investigations and financial reconciliations would determine subsequent actions.He also ordered the reversal of the Ministry of Roads and Bridges to the old Ministry of Works with immediate effect.The governor cited what he called lack of completed bridges or significant road projects as a justification for changing the ministry of roads and bridges back to ministry of works.“It is ironic that despite its name, the ministry did not construct a single bridge, not even a pedestrian one,” he said.The governor directed immediate implementation and reflection of the new name across official documents and platforms. (NAN)NEWS
Breaking…….NNPC Ltd. Records 1.8mbpd Crude Oil Production
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) says it has achieved 1.8 million barrels per day crude production following continuous dislodgement of pipeline vandals and crude oil thieves.Mr Lawal Musa, Chief Production War Room Officer, NNPC Ltd., said this on Thursday in Abuja during a briefing on NNPC Ltd.
production.Musa, who is also the Senior Business Advisor to Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPC Ltd. , said that the achievement was based on the collaboration between the leadership of NNPC, stakeholders and security agencies. “We achieved this because of the clear mandate by President Bola Tinubu to ramp up crude oil production in the country,” Musa said. (NAN)NEWS
EFCC Admits Ex-Kogi Governor’s Alleged Co-defendants to Bail
The Economic and Financial Crimes Commission (EFCC) has admitted the co-defendants in alleged money laundering charge filed against the immediate-past Governor of Kogi, Alhaji Yahaya Bello, to administrative bail.EFCC’s counsel, Jamiu Agoro, informed Justice Maryann Anenih of an Abuja High Court on Thursday upon resumed hearing in the charge.
The former governor, alongside Umar Oricha and Abdulsalami Hudu, are being prosecuted as 1st to 3rd defendants, respectively, in a fresh 16-count charge instituted against them by the anti-graft agency. Agoro also sought for adjournment in the fresh case the EFCC instituted against the ex-governor, saying the 30-day window was still running for the summons earlier issued. running.The EFCC, however, said, it admitted Bello ‘s alleged co-defendants, Umar Oricha and Abdulsalami Hudu, to bail and prayed the court for extension of time for the Bello to appear.At the resumed hearing before Justice Maryann Anenih , Counsel for EFCC, Jamiu Agoro, said the order of the court, given on Oct 3 had not elapsed.“In that wise, we feel it will not be appropriate for us to take proceedings while that 30 days is still running.” So we have discussed and agreed to come back on the Nov 27,” he told the court.He also noted that the Nov 20 date earlier given was not convenient for the Prosecution counsel.Counsel to the 2nd Defendant, Aliyu Saiki, SAN, confirmed that his client had been granted administrative bail by the Prosecution.He said he had no objection to the application for adjournment.The 3rd Defendant’s Counsel, ZE Abass, concurred also.The prosecution Counsel also asked the court to grant an application to paste the notice of hearing on the last known address of the former governor.After listening to all counsel, the judge granted the EFCC’s application for adjournment, including the hearing notice.“I have considered the application for adjournment by the complainant and issuance of hearing notice and the submission by the 2nd and 3rd Defendants. The application is granted,” she said.Justice Anenih thereby adjourned the case until Nov 27.Report says that Justice Anenih had on Oct. 3, 2024 issued a public summon against Bello following his absence in a fresh arraignment on 16-count charges preferred against him by the EFCC.Justice Anenih issued the summon in a ruling following an ex parte application by EFCC counsel, Rotimi Oyedepo, SAN praying the court to grant leave that Bello should be served the charge via substituted means.The court ordered that the charge should be served on Bello at his known residence, No 4, Bengazi Street, Maitama, Abuja, through a public summons to be published in widely circulated national newspapers and also pasted within the premises of the court.(NAN)