Business
FG Realises N380m From CTN In Five Months
The Cargo Tracking Note (CTN), introduced into the maritime industry by the current administration in December, has raked in 1.59 million euros (about N380 million) into the coffers of the government, within its first five months of partial operation.
Managing Director of Nigerian Ports Authority (NPA), Mallam Abdul Salam Mohammed, who disclosed this last week in Abuja, said that beside direct revenue generation into the coffers of government, CTN will also assist relevant Nigerian government agencies monitor Nigerian-bound cargo.
Mohammed said that CTN, when fully implemented, is expected to generate about 10 million Euros into the coffers of government yearly.
A maritime professional and National President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Mr. Lucky Eyis Amiwero, while speaking with reporters in Abuja, said that CTN is a global phenomenon, which should be embraced by Nigerians to enhance cargo security.
Speaking shortly after a stakeholders parley on the CTN scheme, Amiwero wondered why Nigeria has been dragging its feet over the implementation of CTN, whereas 90 per cent countries are already using the system.
CTN, explained Amiwero, represents an additional layer of security to ensure goods reach their destination in the same condition as they began their journey, it includes processes and system to determine the location of the goods and helps ensure that their location is consistent with what is authorised and expected.
“CTN has become a global trend in the realms of international trade on the dual mission of protecting national security. It improves the ability to monitor the flow of goods to and from port, creates a more efficient system that saves time and money, while improving the quality of cargo monitoring”, he stated.
The fiery freight forwarder known for his antagonistic stand against the new shipping guidelines at inception stated that he had a change of mind after his self-sponsored researches on the advantages and disadvantages of the CTN.
He stressed that the advantages of the programme far outweigh the disadvantage.
According to him, Nigeria stands the risk of terrorism attack through seaports if CTN is not implemented since cargo security provisions under the International Maritime Organisation (IMO) acknowledged the importance of the maritime sector to international trade and security.
“The cargo security programme developed after 9/11 emphasised on provision of advance information of the shipment of goods to the importing country, which is a new protocol for Tracking and Screening of Cargo both from the country of origin to destination, which was adopted globally due to security threat on the supply chain,” he said.
Cargo tracking covers the need for identification, statistic, transport cost (freight element), control, safety and increase security by providing information on the movement of the cargo throughout the international trade environment.
It also improves the ability to monitor the flow of goods to and fro, creates a more efficient system that saves time and money, while improving the quality of cargo monitoring, improve communication directly with customers and enable more exact time estimate.
Amiwero stated that it is now a global requirement for supply chain mechanism. It is new protocol in the global trend that was incorporated into international framework precipitated a change from inbound inspection and monitoring of cargo to outbound that is cargo tracking and screening, such as those under the World Customs Organisation (WCO) safe framework for container security and International Ship and Port facility code (ISPS).
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
Business
AFAN Unveils Plans To Boost Food Production In 2026
-
Sports4 days agoTinubu Lauds Super Eagles’ after AFCON bronze triumph
-
Sports4 days agoAFCON: Lookman gives Nigeria third place
-
Sports4 days agoFulham Manager Eager To Receive Iwobi, Others
-
Sports4 days ago“Mikel’s Influence Prevent Some Players Invitation To S’Eagles Camp”
-
Sports4 days agoMan of The Match award Excites Nwabali
-
Sports4 days agoRemo, Ikorodu set for NPFL hearing, Today
-
Sports4 days agoPolice Games: LOC inspects facilities in Asaba
-
Niger Delta4 days agoINC Polls: Ogoriba Pledges To Continuously Stand For N’Delta Rights … Picks Presidential Form
