Business
Oba Commends SEME Customs Comptroller
The Oba of Lagos, Oba Riliwanu Akiolu has endorsed the efforts by the Customs Area Comptroller of Seme Area Command to suppress the acts of smuggling which he said is inimical to national economic and security growth.
Oba Akiolu, who received Comptroller Willy Egbudin in his palace on Lagos Island, recently commended the Comptroller for coming to sustain the existing cordial tie between the command and his palace while reassuring the command of his continuous support for the noble efforts of Seme customs at all times.
The monarch also said the good works of the customs should be encouraged by all patriotic and well meaning Nigerians as all industries in Lagos and other parts of the country deserve some government protection through customs preventive efforts against smuggling.
Oba Akiolu, a retired Assistant Inspector General of Police also lauded the robust customs/ community relations between the Seme Command and the traditional institutions in Lagos. He said traditional rulers and government operatives should always see themselves as partners in progress. He also told the visiting CAC and members of his entourage to see the palace as their second home, where they are free to come any time the need arises.
Speaking earlier, Comptroller Egbudin said his visit to the palace is aimed at seeking the support of the monarch, his blessing and cooperation of the traditional institution which he described as critical stakeholders in the Nigerian project.
“We are doing a lot of enlightenment and sensitisation on the ills of smuggling and other trade malpractices like under declaration, forgery of documents, duty evasion and other unlawful activities like smuggling of dutiable goods and prohibited items like arms and ammunition.”
He also explained that the command under his watch has recently increased its anti smuggling activities during this yuletide period and would sustain the momentum.
The CAC’s round of visits to stakeholders has seen him familiarising with other monarchs like the Akran of Badagry, the Aholu of Kweme, Oba Sejiro Ogungbe Olalekan James, Oba Possi Oyekan of Owode Apa and the Onibereko of Ibereko as well as senior officers of other government services.
Among officers visited are the Comptroller of the Federal Operations Unit (FOU), Ikeja Lagos, Nuhu Isa Mahmud, who described Egbudin as a dedicated officer with the capacity to address challenging situations without betraying emotions.
The FOU Comptroller promised support for the Seme Command while reiterating that all officers of the service are united by common goals which requires synergy to achieve. He added that Egbudin’s posting to Seme goes a long way to show that he is a reliable officer capable of handling sensitive assignments in an area like Seme, the busiest border post in West Africa.
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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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