Maritime
Director Urges Removal Of Import Duty On Currency Notes Materials
The Managing Director of a shipping agency, Mr. Dayo Azeez,
has urged the Federal Government to end payment of import duty on raw materials
for the printing of currency notes.
Paper and a few other materials are imported for the
printing of currency notes.
Azeez made the call in Lagos on Thursday in an interview
with Journalists and advised government to abrogate the duty which he said was
currently as high as 20 per cent, saying bank notes were not commercial
products.
According to him, the raw materials are for a national
currency and should therefore attract zero per cent duty as finished import
currency.
Azeez, a former vice-President of the Association of
Nigerian licensed Customs Agents, said that the high duty had resulted in
demurrage on large consignments of currency notes’ raw materials running into
millions of Naira.
He also advocated the abrogation of the 20 per cent levy on
rice importation to make it affordable.
“The import duty on rice is 20 per cent of the Cost
Insurance Freight (CIF) value and at the same time you pay an additional 20 per
cent as levy and 5 per cent as VAT. So everything put together on rice is
almost 50 per cent of the CIF value.
“We are clamoring for removal of that 20 per cent levy
because it is of no reason, there is no just cause for the 20 per cent levy
because every household in Nigeria consumes rice.
Continue Reading
The Chartered Institute of Logistics and Transportation, CILT has sought collaboration with the Economic and Financial Crimes Commission, EFCC towards enhancing interconnectivity through a multimodal logistics and transportation system that involves the rail, road, sea, motorways and pipelines.
The request was made last week when the President and chairman of Council, CILT, Dr. Boboye Oyeyemi, led other executives on a courtesy visit to the Executive Chairman of EFCC, Ola Olukoyede at the Commission’s corporate headquarters in Jabi, Abuja.
“We can collaborate with the EFCC in terms of advocacy. When I’m talking of advocacy, I’m talking about the issue of the transport and logistics sector.
“We can have anti-corruption awareness within the transport sector. Another key issue has to do with professional ethics and training. We believe that we can collaborate with EFCC in the area of public transport as regards to integrity programmes for industry professionals and also research policies addressing logistics vulnerabilities in financial crimes,” he said.
He also identified logistics and supply chain expertise as another area of collaboration with the EFCC.
According to him, “There’s no way you can conduct an investigation without bumping into the issue of logistics and transportation. We believe that we can look into this and offer professional memberships to your members of staff at different levels.
“We believe if they are members of the institute, it will lessen the cost of your investigation.
“In our Academy, We can also offer to deliver lectures in this area to enhance professionalism. So, before your Cadets pass out from the Academy, members of the Institute can make lectures to be delivered in the areas of logistics and transport so as to enhance their professionalism.
“,At the end of the day, they will have professional certificates and also have enhanced capacity to investigate the issues of logistics and transportation.”
He blamed the delay in the clearance of goods in Nigerian seaports to logistical inadequacies.
“There’s so much serious problem in logistics in Nigeria, so many duplications. And it’s not giving Nigeria a good image. You are talking about bringing investors.
0″I don’t want to bring investors if it would take weeks to clear their goods,” he said.
By: Nkpemenyie Mcdominic, Lagos
The Nigeria Customs Service (NCS) has advanced its strategic engagement with the Royal Malaysian Customs Department (RMCD).
This followed an official visit by the Comptroller-General of Customs, Bashir Adewale Adeniyi, to the RMCD Headquarters on the sidelines of his participation at DSA Malaysia 2026.
The engagement comes against the backdrop of expanding bilateral trade, with Nigeria’s imports from Malaysia increasing from NGN 159.9 billion in 2020 to NGN 716.0 billion in 2024, and cumulative trade value reaching approximately NGN 1.82 trillion over a five-year period.
The Nigeria customs boss was received by the Director-General of the Royal Malaysian Customs Department, Dato’ Haji Amran bin Haji Ahmad, whose appointment in March 2026 reflects a strong reform-oriented leadership in enforcement and regulatory administration.
Both leaders held high-level discussions focused on institutional collaboration, customs modernisation, and coordinated border management frameworks to strengthen efficiency and regulatory integrity.
The Comptroller-General emphasised that the scale and trajectory of Nigeria–Malaysia trade relations necessitate a more structured and formalised customs-to-customs partnership.
He noted that Malaysia remains a significant trading partner to Nigeria, with key imports including crude palm oil, refined palm olein, jet fuel, food preparations, machinery, and other industrial inputs.
He further underscored the critical role of customs administrations in facilitating legitimate trade while safeguarding national economic and security interests.
Both administrations acknowledged the absence of a formal legal framework guiding bilateral customs cooperation despite longstanding trade relations.
To address this gap, both parties agreed to initiate processes toward establishing a Mutual Recognition Agreement under the framework of the World Customs Organisation (WCO), to be pursued through appropriate diplomatic channels.
This initiative is expected to provide a structured basis for cooperation, enhance mutual trust, and support reciprocal trade facilitation measures.
The engagement also provided an opportunity for the Royal Malaysian Customs Department to present its evolving border management architecture, including the establishment of the Malaysian Border Control and Protection Agency (AKPS) as an integrated frontline border control body.
In his aresponse, the Comptroller-General highlighted the Nigeria Customs Service’s Authorised Economic Operator (AEO) programme and other trade facilitation frameworks designed to ensure predictable clearance processes, reduce transaction costs, and strengthen compliance.
Both sides emphasised the importance of deeper collaboration in intelligence sharing, enforcement coordination, and technology-driven border management, particularly in addressing illicit trade and transnational trafficking.
To this end, the NCS reiterates its commitment to strengthening bilateral and multilateral partnerships as part of its broader modernisation agenda.
The Service noted the outcome from this engagement will enhance operational capacity, improve trade facilitation, and reinforce border security, while supporting Nigeria’s economic growth objectives.
As part of ongoing efforts to deepen institutional collaboration, the Comptroller-General also used the opportunity to visit the Nigerian Diplomatic Mission and Defence Office in Malaysia, commending their roles in advancing Nigeria’s interests and supporting nationals abroad.
By: Nkpemenyie Mcdominic, Lagos
The Nigeria Customs Service NCS has deployed seven operational patrol vessels to Western Marine Command to combat smuggling and other maritime crimes
The vessels, comprising two gunboats and five logistics boats, were officially handed over to the Command recently, increasing its fleet to significantly enhance patrol coverage and rapid response capacity within its area of responsibility.
Speaking during the handover ceremony, Comptroller of Western Marine Command, Patrick Ntadi, said the deployment reflects the Service’s strategic commitment to strengthening enforcement across critical maritime corridors.
“These assets are a clear demonstration of our resolve to secure Nigeria’s waterways against economic sabotage and transnational crimes.
“We are not only expanding our operational capacity but also ensuring that our officers are better equipped to respond swiftly and effectively,” he said.
Ntadi described the expanded fleet as a major boost to ongoing anti-smuggling operations, noting that it addresses previous logistical challenges and strengthens deterrence along key waterways.
“The fight against smuggling is dynamic, and we must remain proactive.
“This deployment, alongside continuous training and inter-agency collaboration, will significantly improve our enforcement outcomes and protect national revenue,” he added.
To support the effective deployment of the vessels, officers of the Command recently underwent an intensive training programme conducted by SEWA Africa Ltd, the contractor responsible for the boats.
The training focused on handling techniques, safety procedures, and operational efficiency.
Representative of SEWA Africa Ltd, Steven Okitiape, explained the training was designed to enhance both competence and safety among officers.
“This training serves as both a refresher and a capacity-building initiative, ensuring that officers can maximise the performance of these vessels while maintaining the highest safety standards,” he said.
By: CHINEDU WOSU
-
Featured1 day agoWASSCE: RSG Distributes Science Materials To Secondary Schools
-
News2 days ago
Xenophobic Attacks: Nigerian Lives More Important Than Foreign Investment – Oshiomhole
-
Rivers2 days ago
MBA Forex Trial Adjourn To June 3, Amid Bereavement … As Court Declines Cost Application
-
News2 days ago
ActionAid Demands Probe Of Govs Using Public Funds For Campaign
-
Aviation2 days ago
Passengers Stranded As Delta Airline From Atlanta Route Back Eight Hours After
-
Business2 days ago
Customs Impound N2.35bn Cocaine, 15 Trailers of Rice
-
Politics2 days ago
2027: Bayelsa Senator Gets Critical Endorsement For Second Term
-
Politics2 days agoINEC Sets Rivers South-East Senatorial By-Election For June 20