Category: Business

Customs unveils digital One-Stop-Shop to slash cargo clearance time to 48 hours

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) has launched a digital One-Stop-Shop (OSS) platform aimed at eliminating bureaucratic bottlenecks at the nation’s seaports and reducing cargo clearance time to just 48 hours. The initiative was unveiled at a ceremony in Lagos on Friday, February 13, 2026, where the Comptroller-General of Customs, Adewale Adeniyi, described the platform as a landmark structural reform designed to modernise border operations and enhance Nigeria’s trade competitiveness. According to him, the OSS platform aligns with ongoing economic and business reforms under President Bola Ahmed Tinubu’s administration, while also…

CAC @ 35: Magaji unveils AI Reforms, Google partnership as Commission marks anniversary in Abuja

Lukman Laleye Babalola

The Corporate Affairs Commission (CAC) on Monday, 9th February 2026, marked its 35th anniversary under the theme “Upholding Public Trust Through Excellent Service Delivery”, with a high-level ceremony attended by top government functionaries, Lawmakers,captains of industry, development partners, and key stakeholders in Abuja. The event, which highlighted the Commission’s reform journey and future outlook, featured an Anniversary Lecture, the screening of an abridged documentary on the evolution of CAC, cultural performances by the NYSC National Troupe, and goodwill messages from relevant stakeholders. Delivering his address, the Registrar-General/Chief Executive Officer of…

WCO, World Bank strengthen Nigeria Customs’ post-clearance audit capacity

Lukman Laleye Babalola

The Nigeria Customs Service (NCS), in collaboration with the World Customs Organisation (WCO) and the World Bank Group (WBG), has commenced the WCO Accelerate Trade Facilitation Programme to strengthen trade facilitation, enhance compliance, and deepen customs modernisation in Nigeria. The programme, which began on Monday, 19 January 2026, is focused on reviewing agreed reform objectives and confirming strategic approaches for implementing key initiatives, particularly in the area of Post-Clearance Audit (PCA). It also provided an opportunity to assess progress made so far while identifying practical measures to improve efficiency, transparency,…

FG inaugurates committees to drive implementation of National Intellectual Property Policy

Lukman Laleye Babalola

The Federal Government has inaugurated the National Intellectual Property Policy and Strategy (NIPPS) Implementation Committees, marking a major step toward strengthening Nigeria’s intellectual property (IP) ecosystem and translating policy commitments into concrete economic outcomes. The inauguration, which took place in Abuja, signaled a transition from policy formulation to coordinated execution following the approval of the NIPPS by the Federal Executive Council. Speaking at the event, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the inauguration represents a decisive move from years of consultations and planning to focused…

Nigeria Customs commences new SOP for Courier firms operating under DDP regime

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) has commenced the implementation of a new Standard Operating Procedure (SOP) for courier companies operating under the Delivered Duty Paid (DDP) Incoterm, aimed at strengthening compliance, enhancing revenue assurance and aligning courier operations with global best practices.   Announcing the development in release, the National Public Relations Officer of the Service, Deputy Comptroller of Customs Abdullahi Maiwada,said the SOP provided a unified framework for the registration of courier companies, submission of manifests, declaration, valuation, clearance, delivery and compliance monitoring of DDP shipments nationwide. According to…

Nigeria Customs begins safe passage scheme for temporarily imported personal vehicles

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) has commenced the implementation of procedures for granting safe passage to personal vehicles temporarily imported into or transiting through Nigeria by international travellers. The initiative, anchored on the Nigeria Customs Service Act, 2023, applied to personal, non-commercial vehicles belonging to visitors entering the country for tourism, diplomatic, business, or other personal purposes. The Service said the scheme is aimed at easing cross-border movement, enhancing trade facilitation, and strengthening Nigeria’s compliance with international conventions. Customs explained that the framework derives legal backing from Sections 142, 143,…

FG dismisses fears over new Tax law, says Bank transfer narrations not under watch

Lukman Laleye Babalola

The Federal Government has dismissed public fears surrounding the newly introduced tax reforms, assured Nigerians that bank transfer narrations will not be monitored and personal accounts will not be automatically debited for tax purposes. Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, gave the clarification during an end-of-year programme on Channels Television, amid growing concerns that the reforms could lead to intrusive tracking of citizens’ bank transactions. Oyedele said the government neither intended nor possessed the capacity to monitor individual bank transfers for taxation, stressing…

FIRS adopts NIN, CAC Numbers as Official Tax Identification from 2026

Lukman Laleye Babalola

The Federal Inland Revenue Service (FIRS) has announced that Nigerians will no longer be required to obtain a separate Tax Identification Number (TIN), as the National Identification Number (NIN) has been officially adopted as the tax identification number for individuals, effective from January 2026. The clarification followed growing public concern over new tax provisions and speculation that citizens would be required to register for additional identification numbers for tax-related transactions. In a statement issued on Monday, FIRS explained that the move is part of ongoing reforms under Nigeria’s evolving tax…

NiDCOM empowers Diaspora ,Youth Entrepreneurs at Connected Diaspora X DOWA Challenge

Lukman Laleye Babalola

The Nigerians in Diaspora Commission (NiDCOM) has reaffirmed its commitment to fostering innovation, youth entrepreneurship, and diaspora engagement with the successful hosting of the second edition of the Connected Diaspora Innovation Challenge under its Home Strings Programme. The event, themed “Building, Breaking & Believing in Nigeria,” called on Nigerians in the diaspora to leverage their expertise and global exposure to contribute meaningfully to national development. Lagos Deputy Governor, Dr. Kadri Obafemi Hamzat, who served as Special Guest of Honour, emphasized that innovation, youth empowerment, and diaspora collaboration are vital tools…

Nigeria Customs seizes 20 diverted containers worth ₦769.5bn, CGC vows crackdown on economic saboteurs

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) has intercepted 20 diverted transit containers with a combined Duty Paid Value (DPV) of ₦769,533,666 along the Kano/Jigawa axis, in a major intelligence led operation to curb cargo diversion and protect government revenue. The Comptroller-General of Customs (CGC), Bashir Adewale Adeniyi, disclosed the seizures during a press briefing in Kano on Friday, December 19, 2025, describing the operation as part of sustained enforcement efforts targeting organised cargo diversion syndicates. According to Adeniyi, the containers were intercepted between the second and fourth quarters of 2025, following…