Business

ANLCA Seeks GTB Probe Over Debt

Published

3 years ago

September 14, 2022

The umbrella body of Freight practitioners in Nigeria, Association of Nigeria Licensed Customs Agents (ANLCA), has called on the Economic and Financial Crimes Commission (EFCC) to probe the activities of Guaranty Trust Holding Company (GTCO) PLC, formally known as Guaranty Trust Bank (GTBank), over alleged billions of naira owed importers and their agents.
According to ANLCA, “the accumulation of debt arising from demurrage follows the suspension of GTCO from Customs duty collection owing to the lenders’ inability to remit collected funds to the Federal Government coffers, which called for questioning”.
Addressing newsmen in Lagos recently, the Acting National President of ANLCA, Dr. Kayode Farinto, decried the consequences of the suspension of the bank, which has affected over 400,000 consignments.
He, therefore, urged the EFCC to investigate non-remittance of funds by the bank, which he described as a criminal act.
Dr. Farinto berated GTCO for failing to address the stakeholders, despite the loss incurred by importers and agents.
He stated that the amount Nigerian importers lose as a result of storages and demurrages is running high and the problem is not yet over.
“These consignments are still trapped in the ports and agents cannot clear them. Even some who have made assessments cannot pay duty. It is running to over N40 billion now and that is very unfortunate.
“We have a situation on ground where nobody is talking to Nigerians, nobody is talking to our stakeholders, freight forwarders or Customs brokers. That is why there is a need for us to make the world know what is happening in the maritime industry.
“We have a situation in which GTBank must have erred through the issue of reconciliation. We heard that the bank has not remitted some hundreds of billions to the Federation account and they have collected this money on behalf of the Federal Government and that was what led to their suspension.
“The Committee on Customs at the House of Representatives directed Customs to suspend GTBank from the portal. The bank has been suspended and some consignments have been trapped.
“As I talk to you, clearing of over 400,000 containers throughout the federation processed by agents who open their Form M through GTBank cannot proceed further despite their Pre Arrival Assessment Report (PAAR).
“This is because they must pay the duty through the Commercial or dealer Bank where they have opened Form ‘M’ which are now trapped and there are over 40% of vehicles that needs to be cleared from the seaport which has gotten assessments but cannot go ahead.
“There are about 10% of people who have actually paid duty and as a result of the suspension, the status has not changed in the portal of Customs and they cannot move forward in of clearance of the goods.
“This is why we are calling on freight forwarders to make sure that from today the 6th of September, 2022, they should not open their Form ‘M’ or make any assessment or transaction through GTBank again.
“This has become imperative in view of the fact that nobody is even talking to us. We sent a letter to GTBank on this particular issue for them to address us and let us know what is happening but everybody is avoiding us. That is why I want to challenge the EFCC to wade in”, he stated.
Recall that the Nigeria Customs Service (NCS), penultimate week, unannounced the suspension of GTCO from collection of import duty payments on cargoes, thereby leading to importers and clearing agents incurring huge demurrages at the ports.
The National Public Relations Officer of the NCS, Deputy Comptroller Timi Bomodi, in a statement explained that the suspension was on the directive of the National Assembly.

By: Nkpemenyie Mcdominic, Lagos

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

1 day ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

1 day ago

January 12, 2026

The Tide

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.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

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.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

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

Published

4 days ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi