Connect with us

News

‘Importers May Shun Our Ports’, Obi Urges FG To End Customs FX Rates Inconsistency

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

By Emmanuel Agaji

The 2023 presidential candidate of the Labour Party, Peter Obi, has urged the Federal Government to end the inconsistency in duty charges by the Nigeria Customs Service.

In a post on X (formerly Twitter) on Wednesday morning, Obi said the inconsistency in duty charges is affecting the general business atmosphere in the country.

He warned that if this situation is not corrected, importers in the country may resort to using ports of nearby countries, a situation which he noted will leave the Nigerian ports under-productive, and further deepen the economy into a worse situation as a result of loss of revenue.

Advertisement

Obi said, “I wish to urgently call on the Federal Government of Nigeria to end the inconsistency in duty charges as it is affecting the general business atmosphere in the country.

“The federal government should stop the arbitrary and ever-increasing customs duties as it is now negatively impacting businesses and the cost of items, and this portends a huge danger to the economy.

“A situation where at the point of initiating importation, Form M and other documents related to importation are based on a particular rate of exchange, for example, N1000 to $1, being the prevailing exchange rate at the time which the importer of goods was used to calculate the entire process, from the import initiation to receipt of goods in his warehouse.

“Then suddenly when the goods arrive in Nigeria, and duties are calculated at different rates, say N1400 to $1, it becomes a serious business challenge that results in business losses. Worse still, it directly fuels the inflationary spike which is the basis of increasing cost of goods and living. Such arbitrary charges will obviously lead to further closure of businesses, and attendant job losses.

Advertisement

“This is because at the time of the initiation of the business, calculations, including duties, have been made based on the prevailing exchange rate, and the prevailing market prices.

“If this situation is not corrected, our importers may resort to using ports of nearby countries, a situation that will leave our ports under-productive, and further deepen our economy into a worse situation as a result of loss of revenue,” the post partly read.

The former Anambra State Governor also advised the government to show consistency in its policies as this will help with economic forecasting and business planning.

He said that businesses are dying, and manufacturers are shutting down because of the poor and inconsistent economic policies of the government.

Advertisement

“All efforts of the government should be directed at supporting businesses, especially those in the manufacturing sector, to keep their businesses afloat and keep the economy growing, as the small business sector remains the most critical engine of economic growth.

“We cannot afford to target high customs revenues at the expense of the survival of local businesses, employment and reasonable cost of living,”

Continue Reading
Advertisement

News

Ooni debunks report over conferment of chieftaincy title on Baba Ijesha

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

The Permanent Chairman of the Southern Nigerian Traditional Rulers Council (SNTRC), Arole Oodua Olofin Adimula and the Natural Head of the Oduduwa race worldwide, the Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi, Ojaja II, has rubbished reports circulating on social media alleging that he conferred a chieftaincy title on popular Nollywood actor and comedian, James Olanrewaju, popularly known as Baba Ijesha.

In a statement on Saturday by the Director of Media and Public Affairs, Ooni’s Palace, Otunba Moses Olafare said the Ooni clarified that although he warmly received the actor and his wife at the Ile Oodua Palace on Wednesday to celebrate the birth of his son and presented him with a brand-new car and cash gifts as a demonstration of his fatherly love and royal generosity, no chieftaincy title was conferred on him.

According to him, the expression “Awada Konge Oduwa,” which Baba Ijesha later described on his social media pages as a chieftaincy title, was merely a light-comedy remark made by the Ooni during a relaxed interaction in recognition of the actor’s outstanding career as a comedian.

The remark was never intended to constitute a formal installation or conferment of a traditional title.

Advertisement

The Ooni noted that Baba Ijesha, as an indigene of Ile-Ife and a proud son of the source, is deserving of honour and could be considered for a chieftaincy title in the future.

However, no such title has been conferred on him.

“The conferment of chieftaincy titles in Ile-Ife remains a sacred traditional process governed by established customs, consultations and traditional rites, which are publicly conducted in accordance with the age-long traditions of the source. None of these customary procedures took place during the actor’s visit to the Palace, “he said.

While appreciating Baba Ijesha for acknowledging the royal kindness extended to him and his family, the Ooni urged media organisations and members of the public to disregard reports claiming that the actor has been installed as the “Awada Konge Oduwa” or conferred with any chieftaincy title.

Advertisement

The Ooni reaffirmed his commitment to celebrating and supporting deserving sons and daughters of Ile-Ife and the Oodua race at large while preserving the sanctity, dignity and integrity of the revered traditional institution of chieftaincy.

Continue Reading

News

Presidency Orders DSS, EFCC To Probe Govt Officials Linked To PFIPC Scandal

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

The Presidency has called on security and anti-graft agencies to identify, arrest and prosecute government officials who may have collaborated with Prince Matthew Adeniyi Adeyemi in the alleged operation of two fictitious federal government agencies.

Adeyemi is accused of creating the Presidential Foreign Intervention Promotion Council and the Presidential Economic Advisory Council using allegedly forged documents purportedly linked to the Presidency.

In a statement on his verified X handle, the Senior Special Assistant to President Bola Ahmed Tinubu on Media and Publicity, Temitope Ajayi, said investigators must go beyond Adeyemi and expose the internal network that allegedly enabled him to operate for an extended period.

Ajayi urged the Department of State Services (DSS), the Nigeria Police Force (NPF) and the Economic and Financial Crimes Commission (EFCC) to investigate all officials within public institutions who may have aided the alleged scheme.

Advertisement

According to Ajayi, much of the public debate has ignored the fact that government institutions detected the alleged fraud and acted on it.

He said officials of the Nigerian Investment Promotion Commission, working with officers of the Ministry of Foreign Affairs, first discovered inconsistencies in Adeyemi’s operations and reported the matter to the appropriate authorities.

“Contrary to the anything-goes narrative being promoted, it was the system itself that raised the red flag and dealt with it administratively,” Ajayi said.

He, however, acknowledged that the suspect could not have operated for long without help from insiders.

Advertisement

“What is not in doubt is that internal collaborators enabled Adeyemi to get this far. That is precisely what investigators from the DSS, the Police and the EFCC must now unravel.

“The criminal network within the affected institutions must be dismantled and everyone found to have played a role should be arrested and prosecuted,” he said.

The Presidency had earlier disowned the disowned the two organisations, insisting that they did not exist as government agencies.

It also maintained that the Chief of Staff to the President, Femi Gbajabiamila, neither authorised Adeyemi’s activities nor had any connection with them.

Advertisement

“In Nigeria, the easiest and most believable allegation anyone can throw at a public officer is corruption.

“Once that accusation is thrown into the mix, the water is polluted, the lines are blurred and everyone is kept busy arguing over distractions rather than the real issues,” he wrote.

He described Adeyemi as “an irredeemable con artist” who was using allegations against the Chief of Staff as “his last straw” to avoid criminal liability.

The Presidency insisted that the case should not be framed as evidence of complicity at the highest levels of government, but as an alleged fraud uncovered by the system itself.

Advertisement
Continue Reading

News

TCN announces planned outage at Abuja transmission substation

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

 

Transmission Company of Nigeria, TCN, Abuja Region has announced a planned preventive maintenance at the Katampe 132/33 KiloVolt (kV) Transmission Substation on Saturday from 9:00am to 4:00pm.

General Manager, Public Affairs of the TCN, Mrs Ndidi Mbah, made this announcement in a statement in Abuja on Saturday.

Mbah said the scheduled maintenance is to enable TCN’s maintenance crew carry out preventive maintenance on the 100 Mega Volt Ampere (MVA) 132/33kV Power Transformer (TR1), its auxiliaries, and associated switchgear in the substation.

Advertisement

”Consequently, Abuja Electricity Distribution Company, AEDC, will be unable to off-take bulk power for distribution to customers in parts of Mpape, Maitama, Jahi, Life Camp,

”Others are Kado Fish Market, Idu-Karmo, and their environs during the maintenance period,” she said.

According to her, the company regrets any inconvenience the planned outage may cause electricity customers in the affected areas.

She added that equipment maintenance is essential to ensure their continued optimal performance.

Advertisement
Continue Reading

Trending

Copyright © 2024 Naija Blitz News