Business
Seme Customs Generates N6.3bn Revenue
The Nigerian Customs Service (NCS), Seme Command, said it recorded a total of 529 says seizures of contraband goods worth N6.3 billion in the year 2017.
The Customs Area Controller, Compt. Mohammed Aliyu Alhaji while rendering the end of year report disclosed that the Command generated the aforementioned amount in the face of daunting challenges that militated against its performance.
He stated further that the N6.3 billion generated was from one thousand seven hundred and forty two(1,742) declarations from the ASYCUDA platform while a total of 22,273 declarations were used to generate a total of ten billion, five hundred and three million, eight hundred and ninety four thousand, eighty nine naira, eighty one kobo (N10, 503,894,089.81) in the corresponding year of 2016 (meaning fewer number of declarations was used to generate a higher value as compared to the corresponding year 2016).
The Command’s helmsman re-stated that the command in the midst of economic meltdown with resultant downturn on economic activities, deployed a lot of strategies to ensure all revenue leakages were blocked and stakeholders who were ready to comply with procedures and guidelines adequately sensitised to take advantage of the legal process in adhering to the extant laws guiding the service. Some of the strategies that yielded this tremendous result includesthe sensitisation and invitation of stakeholders to come for duty payment for dutiable goods rather than smuggling it; and also the Customs Area Controller’s commendation letter awarded to the best performing officers who have excelled in discharging their statutory functions where they were deployed.
The Controller further expressed satisfaction over the level of commitment displayed by the enforcement officers, who were seen to be proactive in enforcing the Federal Government policy on banned and restricted items through the land border. He added that the non-compromised stand of his officers and men had equally increased the compliant level among deviant stakeholders to adhere to proper import procedures and guidelines.
In analysing the data for the year 2017 key performance indices, Comptroller Mohammed, A.A categorically stated that the success of Seme Area Command was recorded courtesy of the moral and administrative support from the Comptroller General of Customs (CGC) Col. Hameed Ibrahim Ali Rtd, whose zero tolerance for corruption influenced the border command to have a holistic and all-encompassing approach in the enforcement of our core mandate. He added that this was made possible because keying into ‘doing the right thing’ as the slogan of the CGC has disappointed many who always desire to circumvent the principles of adhering to ethical standard and professionalism to corrupt practices. He re-iterated that strict adherence to the policy thrust of the Comptroller General of Customs has indeed increased the compliant level among international traders which was hitherto bedeviled with infractionsand irregularities in their declaration processes.
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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