Business
Drugs Inflow: MWUN Blames NPA Of Security Breach
The Maritime Workers’ Union of Nigeria (MWUN) has blamed the incessant importation of hard drugs into the country through the ports on removal of onboard security men from the port by the Nigerian Ports Authority (NPA).
The President General of MWUN, Comrade Adewale Adeyanju disclosed this in an interview with newsmen on Monday in Lagos.
Adeyanju, who said he commended the operatives of the Nigerian Drug Law Enforcement Agency (NDLEA) for its prompt action over the discovery of cocaine and heroin on board a vessel in Apapa recently, added that MWUN would not in any way support any illegality.
But according to him, if the onboard security men were on ground, they would have identified and intercepted such illicit drugs imported into the country.
He noted that the present crop of security operatives at the terminals were strange people that do not understand the terrain of the ports.
His words, “As a result of what is going onboard gang way men, If you look at all the faces now, we cannot confirm who are the onboard-gang way men.
“ If we have onboard-gangway, most of these things would be identified by the security men onboard the vessels, but as a result of the Nigerian Ports Authority flushing out tally clerk and onboard security men, we have been telling the whole world that onboard-gangway men are the international body recognised all over the world in line with the ILO on maritime.
“They should bring back the onboard security men who will identify visitors onboard the vessels. As it is now, we don’t know the people managing security onboard the vessels, they are illegal.
“The NIMASA, NPA and terminal operators should wake up and make sure that what belongs to the onboard-gang way men should be equally be given and bring them back.
“If there are security men onboard the vessels, there would not be transportation of hard drugs and narcotics at the ports.”
Adeyanju called on officials of NDLEA to add human face in doing their jobs, saying it is unlawful to keep suspects in custody for two or three months without trials.
“He commend the efforts of the NDLEA for promptness in their actions, adding that for “some time now, the leadership of the NDLEA has taken responsibility as the head of that agency, but while you are about doing that, you need to have human face in doing your jobs.
By: Nkpemenyie Mcdominic, Lagos
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.
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