Business

NAGAFF Petitions IGP Over Invasion Of Premises

Published

13 years ago

August 27, 2012

The National Association of Government Approved Freight
Forwarders {NAGAFF}has offer all to God in a thanks giving service to celebrate
God’s mercies upon them particular in
the recent invasion of its complex by armed military men.

The Association ‘s members who gathered at its National
headquarters in Apapa Lagos for the service offered prayers to God to continue
to guide the Association, the maritime industry and Nigeria.

Commenting on the recent invasion by the armed military men
led by one Deputy Comptroller of Customs {Mrs.} Jayne Shoboiki who is said to
be the wife of a Major-General and a brigade commander in the Nigerian army,
the founder of the Association, Chief {Dr} Boniface Aniebonam said the
thanksgiving service has become necessary as God did not allow anything to
happen to him or any of NAGAFF members during the unfortunate incident.

According to him on that fateful day, he was following the
Convoy of soldiers until they stopped at NAGAFF village and invaded the place,
then he drove past them.

Aniebonam said, he is grateful to God that he was not in the
office when the invasion took place as he might have been a dead man.

He condemned the act, but said he still respects the
Nigerian armed forces.

He called on all NAGAFF members and well wishers to be calm
as investigations is on going and that justice will be done.

He absolved the military and the customs from any blame,
saying that privileged persons like the Deputy Comptroller and her Major
General husband want to show power.

It would be recalled that NAGAFF wrote a petition through
its solicitor Larry Okonkwo and Co dated August 1st, 2012 to the Inspector
General of Police, the Executive Secretary National Human Right commission and the
Comptroller General of Customs Service, captioned “complaint about the invasion
of the headquarter of NAGAFF”, a copy of which was made available to The
Tide in Lagos. The petition read in
part, “however, our experience on the
afternoon of Wednesday August 1st , 2012
is nothing to write home about and makes
nonsense of your efforts at upholding the fundamental human rights of
Nigerians and especially the rule of law policy of President Goodluck
Jonathan’s administration” .

“On the said day 13 stern-looking heavily-armed soldiers,
stormed the headquarters of NAGAFF in two vehicles, white-coloured hilux
peugeot with Registration number EM165GGE and a black Lexus SUV with
Registration. number BU300RBC led by a serving customs officer, Deputy Comptroller
Jayne Shoboiki”.

Mrs. Shoboiki is married to a serving military officer Major
General J. O. Shoboiki who is said to be a brigade commander according to the
statement.

The invasion of the NAGAFF headquarters on the afternoon of
Wednesday 1st of August 2012 at about 2:15pm by the 13 uniformed soldiers whose
names could not be ascertained immediately and under the prompting of Mrs.
Jayne Shoboiki could only happen in a state of war, where a country is
attacking another with weapon and psychological warfare to intimidate the
opponent and not just a peace loving law, abiding, hapless association like
ours.

The petition further reads that, Mrs. Shoboiki who stood at
the entrance gate raving in anger, while the army of invasion kept ransacking
the village, kept shouting at the top of her voice that she would deal
mercilessly with Dr. Aniebonam and the top management of NAGAFF, claiming that
they had consistently accused her of corrupt
practices and self enrichment to the detriment of the government.

It could also be recalled that after the red eyed soldiers,
in combat mood, led by Mrs. Jayne Shoboiki who is in charge
of the Customs Intelligence Unit
{CIU} of the Nigeria Custom Service,
Tincan Island Port Lagos invaded the NAGAFF village, the Inspector-General of
Police has in a letter dated 7th August, 2012, Ref
No:CB:7000/IGP.SEC/ABJ/VOL.98/830 directed the Lagos state police commissioner
CP Umar Manko to ensure that is no breach of the peace in Lagos State.

Business

FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions

Published

1 day ago

December 5, 2025

The Tide

The Federal Inland Revenue Service has said that Nigeria’s newly enacted tax laws are designed to strengthen economic competitiveness, attract investments, and improve long-term fiscal stability.

The agency also clarified that the much-debated four per cent development levy on imported goods is not a new or additional tax burden, but a streamlined consolidation of several existing levies.

According a statement released Wednesday, one of the most misunderstood elements of the new tax framework is the four per cent development levy with the agency explaining that the levy replaces a range of fragmented charges — such as the Tertiary Education Tax, NITDA Levy, NASENI Levy and Police Trust Fund Levy — that businesses previously paid separately.

This consolidation, it said, reduces compliance costs, eliminates unpredictability and ends the era of multiple agency-driven levies. The law also exempts small businesses and non-resident companies, offering protection to firms most vulnerable to economic shocks.

Another major clarification relates to Free Trade Zones. Earlier commentary had suggested that the government was rolling back the incentives that have attracted export-oriented investors for decades. However, the reforms maintain the tax-exempt status of FTZ enterprises and introduce clearer guidelines to preserve the purpose of the zones.

“Under the new rules, FTZ companies can sell up to 25 per cent of their output into the domestic market without losing tax exemptions. A three-year transition period has also been provided to allow firms to adjust smoothly.

“Government officials say the reforms aim to curb abuses where companies used FTZ licences to evade domestic taxes while competing within the Nigerian market”, it said.

With the new measures, Nigeria aligns with global FTZ models in places like the UAE and Malaysia, where the zones function primarily as export hubs for logistics, manufacturing and technology.

The introduction of a 15 per cent minimum Effective Tax Rate for large multinational and domestic companies has also been met with public concern. But the FIRS notes that this policy aligns with a global tax agreement endorsed by over 140 countries under the OECD/G20 framework.

Without this adoption, Nigeria risked losing revenue to other countries through the “Top-Up Tax” mechanism, where the home country of a multinational collects the difference when a host country charges below 15 per cent. By localising the rule, Nigeria ensures that tax revenue from multinational operations remains within its borders.

Business

CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation

Published

1 day ago

December 5, 2025

The Tide

The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.

In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.

However, with time, the need has arisen to streamline these provisions to reflect present-day realities.

The statement said the new set of cash-related policies is designed to reduce the cost of cash management, strengthen security, and curb money laundering risks associated with the economy’s heavy reliance on physical currency.

“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.

“With the effluxion of time, the need has arisen to streamline the provisions of these policies to reflect present-day realities,”

“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.

According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.

Daily withdrawals from Automated Teller Machines (ATMs) would be capped at N100,000 per customer, subject to a maximum of N500,000 weekly stating that these transactions would count toward the cumulative weekly withdrawal limit.

The special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly has been discontinued.

The CBN also confirmed that all currency denominations may now be loaded in ATMs, while the over-the-counter encashment limit for third-party cheques remains at N100,000. Such withdrawals will also form part of the weekly withdrawal limit.

Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.

They must also create separate accounts to warehouse processing charges collected on excess withdrawals.

Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.

However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.

The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.

Business

Shippers Council Vows Commitment To Security At Nigerian Ports

Published

1 day ago

December 5, 2025

The Tide

The Nigerian Shippers Council (NSC)has restated its commitment towards ensuring security at Nigerian seaports.

Executive Secretary/Chief Executive Officer of the Council, Dr Pius Akuta, said this in Port Harcourt, while declaring open a one day workshop organized by the Nigerian Shippers Council in collaboration with the Nigerian police( Marin Division).

Theme for the workshop was ‘Facilitating Port Efficiency; The strategic Role of Maritime police “

Akuta who was represented by the Director, Regulatory Services, Nigerian Shippers Council, Mrs Margeret Ogbonnah, said the workshop was to seek areas of collaboration with security agencies at the Ports with a view to facilitating trade

Akuta said the theme of the workshop reflects the desire of the council and the Nigerian police to build capacity of police officers for better understanding and administration of their statutory roles in the Maritime environment.

He said Nigerian seaports has constantly been reputed as one of the Port with the longest cargo dwell in the world, adding,”This is so, because while it takes only six hours to clear a containerized cargo in Singapore Port, seven days in Lome Port, it takes an average of 21 days or more in Nigerian Ports” stressing that this situation which has affected the global perception index on Ease of Doing Business in Nigerian seaports must be addressed.

Akuta said NSC which is the economic regulator of the Ports has the responsibility of ensuring that efficiency is established in the Ports inorder to attract patronages.

“Pursuant to its regulatory mandate, the NSC has been collaborating with several agencies to ensure the facilitation of trade and ease of movement of cargo outside the Ports to avoid congestion”he said.

Also speaking the commissioner of police, Eastern Port Command, Port Harcourt, CP Tijani Fakai, said Maritime police has played some roles in facilitating Ports efficiency.

He listed some of the roles to include ensuring security and crime prevention at the Ports, checking of illegal fishing activities at the Ports, checking of human trafficking and drug smuggling and prevention of fire incident at the Ports.

Represented by ACP, Rufina Ukadike, the CP said police at the Ports have also helped in the decongestion and prevention of unauthorized Anchorage.

He commended the Nigerian Shippers Council for the workshop and assured of continuous collaboration.

Speaking on the dynamics of cargo handling, Deputy Controller of customs, Muhydeen Ayinla Ayoola, said the launching of electronic tracking system and dissolution of controller General Taskforce has helped to ensure efficiency at the Ports.

Ayoola who represented the custom Area Controller Port Harcourt 1 Area command, however raised concerned over rising national security threat , which according to him has affected efficiency at the Ports.

John Bibor