Business
Customs Orders Investigation Into Murder Of Officer In Ogun
Customs Acting Controller of Federal Operations, Unit Zone A, DC Hussein Ejibunu, has directed investigation into the murder of one of the customs operatives (driver) on Saturday night at Owode area of Ogun State by suspected smugglers.
Ejibunu condemned the killing and reiterated his resolve to keep suppressing smuggling and arresting perpetrators of the criminal activity.
He said the killing would not deter FOU Zone A, under his leadership, from carrying out its statutory functions in the interest of national security and economy.
The controller added that seizures of smuggled wares and arrest of suspects would continue unless the perpetrators embrace a change of heart and do legitimate trades.
A statement issued on Sunday by the Customs Public Relations Officer, FOU Zone A, Mr. TheophilusDuniya, said the driver in the rank of Customs Assistant 1, was killed during an operation after two vehicles laden with smuggled foreign parboiled rice were seized and being taken to Lagos.
According to the statement, in the course of the movement, one of the vehicles developed mechanical problem and was being fixed when the suspected smugglers mobilised themselves in a large number with arms, charms, stones and other dangerous objects to attack the officers leading to the death of the deceased officer.
“The body of the deceased has been deposited in a mortuary while investigations have commenced”, the statement added.
By: Nkpemenyie Mcdominic, Lagos
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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