Business
Customs Impounds N3.13bn Tramadol
Barely a day after the Apapa command of the Nigeria Customs Service (NCS) announced a seizure of 40 containers of tramadol worth over N7 billion, the Tin Can Island Command of the service has also intercepted another 10 containers of the banned drugs.
The Comptroller General of Customs, Hameed Ali, who briefed the press last Friday after taking journalists round the seizure, maintained that 10 pieces of 20 feet containers were predominantly imported from India.
The customs boss, who was represented at the briefing by Deputy Comptroller General of Customs (DCG) in charge of Enforcement, Intelligence and Investigations, Augustine Chidi, added that two containers of used clothings and one other of harmful bleaching ingredients were also seized.
Speaking further, Ali said the seizures were in line with the provisions of the Customs and Excise Management Act (CEMA) CAP C45 LFN 2004, Sections 46 and 161.
“The Tin Can Island Command has re-jigged its operational methodology to deal with the trend and the renewed vigour has yielded positive results particularly in dealing with issues of under payment, under valuation, value transfer, concealment, falsification of documents, among others.
“The seizures include the following; 11×40 and 2×20ft containers of tramadol, ciproflaxin capsules, diclofenac sodium tablets, soffeathe IV cannula, sildencfil cotrate tablets, bleaching soaps, bales of used clothing with a total duty paid value (DPV) of N3,134,029,290.00
“In the same vein, a container of soap suspected to contain harmful bleaching ingredients and two containers of second hand clothings were seized in line with the provisions of CEMA”, he said.
On the revenue drive of the Tin Can Island Command between January and November 2018, the Customs boss said the command generated a total of N303.5 billion between January and November as against N253 billion within the same period in 2017.
In line with the presidential directive on the ease of doing business at the ports, the Comptroller General called on relevant security agencies to continually work for the overall interest of the country, to achieve 48 hours cargo clearance timeline.
He warned that the service will apply very strict sanction on any act capable of jeopardising the efforts of the service in achieving better efficiency.
By: Nkpemenyie Mcdominic, Lagos.
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Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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