Category: Business

Oshoba breaks record as Apapa Customs collects ₦20.1bn in One Day

Lukman Laleye Babalola

The Apapa Area Command of the Nigeria Customs Service has set a new record with a revenue collection of ₦20,156,077,098.56 in a single day, barely 24 hours after Comptroller Emmanuel Oshoba assumed office as the Customs Area Controller. The collection, recorded on Tuesday, September 9, 2025, through the Unified Customs Management System (B’Odogwu), is now the highest daily revenue ever achieved by any Customs command in the country. It surpasses the previous record of ₦18 billion. Confirming the achievement, Superintendent of Customs John Tunde Ayagbalo, Public Relations Officer of Apapa…

CITM urges synergy after ICAN’s ‘proliferation’ remarks, reaffirms commitment to Treasury reforms

Lukman Laleye Babalola

The Chartered Institute of Treasury Management (CITM) has cautioned against divisive rhetoric following recent comments by the President of the Institute of Chartered Accountants of Nigeria (ICAN), Mallam Haruna Nma Yahaya, on the alleged proliferation of professional bodies in the country. In a statement signed by its Registrar/Chief Executive, Adedoyin Olumide, CITM described the remarks as undermining the authority of the National Assembly, stressing that the institute was legally established through the CITM Act of 2021 to strengthen Nigeria’s financial architecture. Olumide, while acknowledging ICAN’s 60th anniversary and its contributions…

Customs Board approves $300 De Minimis Threshold, warns officers against misconduct

Lukman Laleye Babalola

The Nigeria Customs Service Board (NCSB) has approved a De Minimis Threshold Value of $300 for low-value consignments imported through express shipments or by passenger baggage. The decision was reached at the Board’s 63rd regular meeting held on Tuesday, September 2, 2025, chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.   According to a statement issued on Sunday by the National Public Relations Officer of the Service, Assistant Comptroller of Customs Abdullahi Maiwada, the new regulation takes effect from Monday, September 8,…

Nigeria’s future ‘ll be powered by Technology, not Oil — Bosun Tijani — NITDA DG: Lagos is Africa’s unicorn factory, ready for future economy — Sanwo-Olu: Lagos driving Africa’s Digital and Economic Transformation

Lukman Laleye Babalola

Nigeria is positioning itself as Africa’s hub for innovation, technology, and the future economy, as the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, declared that “technology, not oil, will power Nigeria’s future.”   Speaking at the ongoing GITEX Nigeria in Lagos, Tijani reaffirmed Lagos as Africa’s undisputed innovation capital, noting that the city attracts over 2,000 new residents daily growth that continue to fuel startups, creativity, and technology. He highlighted that Nigeria has become Africa’s largest telecom market, with ICT contributing between 16 and 20 percent of…

Tinubu, Lula strengthen Nigeria–Brazil relations with landmark agreements

Lukman Laleye Babalola

Nigeria and Brazil have taken major steps to expand their longstanding partnership, as President Bola Ahmed Tinubu and President Luiz Inácio Lula da Silva signed a series of landmark agreements covering trade, aviation, agriculture, investment, and security during Tinubu’s State Visit to Brazil. The two leaders, in a joint statement issued after their meeting in Brasília, described the visit as a milestone in Nigeria–Brazil relations, which were formally established in 1961 and have deepened significantly in recent years. Key highlights of the visit included the signing of a Bilateral Air…

Comptroller Olomu hails B’Odogwu platform as Apapa Customs nets ₦161bn in 3 Weeks

Lukman Laleye Babalola

The Apapa Command of the Nigeria Customs Service (NCS) has generated a total of ₦161.2 billion in just three weeks using the newly introduced Unified Customs Management System (UCMS), popularly known as B’Odogwu.   Customs Area Controller of the Command, Comptroller Babatunde Olomu, who disclosed this in Lagos, hailed the platform as a major step forward in revenue collection and trade facilitation.   Olomu revealed that the revenue was collected between August 1 and 22, 2025, despite initial hitches encountered during the system’s rollout. He commended importers, licensed customs agents,…

Nigeria, Japan forge closer Ties at TICAD 9, Eye strategic partnership

Lukman Laleye Babalola

Nigeria and Japan have pledged to deepen bilateral relations and expand cooperation across key sectors following a high-level meeting between Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, and his Japanese counterpart on the sidelines of the Ninth Tokyo International Conference on African Development (TICAD 9).   Ambassador Tuggar commended Japan for its leadership and hospitality in hosting TICAD 9, highlighting the cordial ties between both countries and Japan’s sustained support for Africa’s development through TICAD and the Japan International Cooperation Agency (JICA).   The talks focused on boosting…

Tin Can Island Port hits ₦16.4bn Single-Day Revenue Through Bodogwu Platform

Lukman Laleye Babalola

The Tin Can Island Port Command of the Nigeria Customs Service (NCS) has recorded a landmark revenue collection of ₦16.4 billion in a single day, made possible through the effective deployment of the Unified Customs Management System (UCMS), also known as Bodogwu.   The Command announced the achievement in a statement released on Thursday in Lagos by its Public Relations Officer, Superintendent of Customs Oscar Ivara. He quoted the Customs Area Controller, Comptroller Frank Onyeka, as describing the development as a clear demonstration of the efficiency, transparency, and responsiveness of…

NESG, FG set Agenda for 31st Nigerian Economic Summit in Abuja

Lukman Laleye Babalola

The Nigerian Economic Summit Group (NESG), in partnership with the Federal Ministry of Budget and Economic Planning, has unveiled preparations for the 31st Nigerian Economic Summit (NES#31), slated for October 6–8, 2025, at the Transcorp Hilton Hotel, Abuja. Themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030,” the summit will address key issues around reforms, economic growth, and inclusive development. Speaking at a World Press Conference in Lagos, NESG Chairman, Mr. Niyi Yusuf, stressed the urgency of deepening reforms to secure Nigeria’s future. He commended recent policy…

Kebbi Customs records first declaration on indigenous B’ODOGWU platform

Lukman Laleye Babalola

The Kebbi Area Command of the Nigeria Customs Service (NCS) has recorded a major breakthrough with the successful processing of its first declaration using B’ODOGWU, an indigenous digital platform designed to modernize Customs operations.   The milestone was achieved on Thursday, 14th August 2025, during a sensitization exercise conducted by ICT Modernisation Officers for officers and stakeholders of the Command. Speaking at the event, the Customs Area Controller, Comptroller CC Nwokorie, described the feat as historic and commended the Comptroller-General of Customs, Bashir Adewale Adeniyi, for championing the innovation. He…