Business
Western Marine Customs Hands Over N704.5m Worth Drugs To NDLEA
As part of her inter-agency cooperation to tackle smuggling and other maritime vices within the waterways , the Western Marine Command of the Nigeria Customs Service (NSC) on Monday in Lagos handed over 120 bags of cannabis sativa worth about N704,518,000 to operatives of the National Drug Law Enforcement Agency (NDLEA) .
The 120 bags of illicit drug, which amount to 10,551 loaves, have a duty value at N704,518,000.00.
Speaking at a brief handing over ceremony, the Customs Area Controller of the Command, Comptroller Odaudu Salefu, said the drugs handed over were confiscated in three different locations: Jegemo Island, opposite Iworo; Ajido water front; and Asipa Beach, along Seme border, on the 29th of November 2023, 2nd December 2023, and 19th January 2024 respectively.
He stated that in order to evade arrest, the smugglers escaped into the creek on sighting the patrol team.
The Customs boss commended officers and men of the command for their bravery, dedication, integrity and diligence in puncturing the activities of smugglers .
Comptroller Salefu assured that the officers and men of the Command remain steadfast in commitment to safeguard the nation’s economic interest by working closely with other relevant agencies of government.
He noted the encouragement of the Comptroller General of customs (CGC), Wale Adeniyi, who, he said, has been very supportive and focused on eradicating smuggling throughout the country.
“This support has been the force of motivation for officers and men of the command”, he stated.
He further urged Nigerians to desist from illicit cross border trade practices, adding that the service will continue to render smuggling activities useless.
According to him, the seizure is a product of the command’s wide network of intelligence, saying that the suspects of the illicit trade are still at large.
He commended the Comptroller General of Customs for upholding the spirit of the MoU between Customs and NDLEA, noting that both agencies of the government have signed an agreement to work and ensure synergy in tackling hard drug smuggling through the nation’s entry and exit points .
“Today’s event is a product of the hard work, dedication and bravery of my officers who have worked with diligence and integrity to puncture the reign of smugglers of these hard drugs.
“This seizure is also a product of our command’s wide network of intelligence with suspects of these trade still at large, but the Command will now work with NDLEA to effect the arrest of these wicked traders”, the Area Controller said.
In his remarks, the Commander of Narcotics, NDLEA, Paul Ahon, harped on the need for inter-agency cooperation and confirmed that intelligence -gathering by both agencies in recent times has paid off.
Although Ndlea’s role within the creeks is to complement customs role, Ahon said both agencies have contact exchange communication to nip smuggling activities at the creeks in the bud.
Nkpemenyie Mcdominic, Lagos
Business
NCAA Certifies Elin Group Aircraft Maintenance

Business
SMEDAN, CAC Move To Ease Business Registration, Target 250,000 MSMEs

Business
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.
-
Oil & Energy2 days ago
“PENGASSAN Orders Halt Of Gas Supply To Dangote Refinery
-
Education2 days ago
Students Eulogises PGSA Leadership Role in RSU dev
-
Niger Delta8 hours ago
Navy Dismantles Six Illegal Refining Sites In Delta
-
News2 days ago
Nigeria At 65: RSG Holds Special Church Service …Cleric Calls For Peace
-
Niger Delta2 days ago
Delta, Tantita Security Services Inaugurate Classrooms for Inmate Education
-
News8 hours ago
Nigeria At 65: With Unity, We Can Overcome Any Obstacle ~ Fubara
-
Sports2 days ago
Chelsea Fall At Stamford Bridge
-
Editorial2 days ago
Charge Before New Rivers Council Helmsmen