Category: Business

  • Customs seize 11,650 litres of PMS, drugs, others in Kebbi

    Customs seize 11,650 litres of PMS, drugs, others in Kebbi

    As part of its continued efforts to get rid of illegal smuggling of goods across the country, the Nigerian Customs Service has again seized 11,650 litres of petroleum motor spirits popularly called PMS

     

    Speaking while briefing newsmen in Birnin Kebbi on Thursday, Comptroller of the command, Iheanacho Ernest Ojike, said the command also recovered 40 cartons of foreign Spaghetti, 50 bales of secondhand clothing, 28 cartons of Diclofenac tablets of 50mg and 10 Jerry Cans of vegetable oils with total Duty Paid Value (DPV) of fourteen million, seven hundred and ninety-two thousand, four hundred naira.

     

    He further disclosed that “the seized PMS would be auctioned to the public with the expectation of generating eight million, one hundred and seventy-eight thousand, one hundred eighty-three (N8, 178, 183) and will be paid to the coffers of the Federal Government

     

    .The team was able to generate twenty-five million, eight hundred and forty-seven thousand, six hundred and eleven naira (N25, 847, 611) in June, which is 67.6 per cent increase as compared to the previous month of May”

     

    Meanwhile, the  Comptroller of the National Coordinator Operation WHIRLWIND, Hussien Ejibunu,

    in a separate briefing in Birnin Kebbi, said a giant stride was made by operatives of

    Operation Whirlwind Zone D’ axis with the seizures of PMS products in Sokoto Area Command.

  • BRICS: New Nation To Jail People Who Use The US Dollar

    BRICS: New Nation To Jail People Who Use The US Dollar

    A new South African nation is following the BRICS de-dollarization mission, planning to jail any people in the country who use the US Dollar.

     

    As the economic alliance has continued its efforts to abandon the US Dollar, Zambia has become the latest country to ditch the greenback and plans to force its citizens to do the same by law.

    A draft document released by the Bank of Zambia on Saturday revealed that individuals caught using foreign currency for local transactions could face up to ten years in prison or substantial fines. Zambia is a smaller country in the South African region, this latest drafted rule is likely targeting the US Dollar specifically to garner attention from the BRICS bloc.

     

    Former Zambian president Thabo Mbeki also appears on board with the new initiative to abandon the US Dollar. In a recent discussion around the US Dollar, he said that China, India, many African countries, and those in Latin America had been questioning the use of the US currency as a trading currency in the world. He added if two countries who did not use the dollar as their currency got into trade agreements there was no use in using it.

     

    The proposed anti-US Dollar law in Zambia will require all local public and private transactions to be conducted in Zambian kwacha (ZMW) and ngwee. Zambia Central Bank’s Deputy Governor for Operations, Francis Chipimo, at a trade fair in Ndola, emphasizes the importance of using local currency during your travels in support of this new law. Chipimo highlights the detrimental effects of dollarization on the country’s economy. The Deputy governor adds that it hinders effective monetary and exchange rate policy management. Thus, ending reliance on the US dollar will only help the country, which is a similar sentiment in other countries across the continent.

     

    ndeed, multiple other African nations are working in similar veins to ditch the US greenback for trade. Recently, BRICS member China has had a strong influence across the continent, especially in Zambia. The Bank of China, for example, offers services in Zambia, South Africa, and Kenya’s Nairobi. That is not just a development that marks greater Chinese cooperation, but one that is indicative of a much greater economic shift.

     

  • Sanwo-Olu wants CAC to simplify registration for startups as deadline for PoS operators nears

    Sanwo-Olu wants CAC to simplify registration for startups as deadline for PoS operators nears

     

    The Governor of Lagos State, Babajide Sanwo-Olu, has appealed to the Corporate Affairs Commission (CAC) to simplify its registration process, especially for startups and small businesses that might struggle to pay registration fees.

     

    The Governor stated this on Thursday during a courtesy call on him by the Registrar-General of CAC, Mr Hussaini Magaji, at Alausa, Ikeja.

     

    This appeal comes amid the struggle by Point of Sales (PoS) operators to meet the July 7, 2024 registration deadline set by the CAC.

    Sanwo-Olu, who was represented by his Deputy, Dr Obafemi Hamzat, suggested that the CAC could adopt a model similar to the state tax card, which provided a database for the government to manage infrastructure needs without burdening businesses.

    While expressing the state government’s willingness to collaborate with the CAC to ensure seamless registration of businesses in the state, he emphasized the need for more sensitization to correct the perception that registering with the CAC was difficult.

     

     

  • EXCLUSIVE: Ogun Governor, Abiodun To Buy N2.4billion Toyota SUVs For Lawmakers, Earmarks N19billion For ‘Contingencies’ In His Office

    EXCLUSIVE: Ogun Governor, Abiodun To Buy N2.4billion Toyota SUVs For Lawmakers, Earmarks N19billion For ‘Contingencies’ In His Office

    A total of N2.4billon is expected to be spent by the Ogun State Governor, Dapo Abiodun for the purchase of 25 Toyota sports utility vehicles for members of the state House of Assembly despite the nationwide economic downturn, a copy of the state’s 2024 approved budget seen by SaharaReporters has revealed.

    Abiodun had on December 30, 2023, assented to the 2024 Appropriation Bill of N703 billion.

    Christened “Budget of Sustained Growth and Development”, the governor claimed the figure was made up of N415.66 billion capital expenditure and N287.37 billion recurrent expenditure.

    In the breakdown of the budget, N2,177,700,000.00 was approved for the procurement of “25 NO OF TOYOTA PRADO VX, AUTO, LEATHER SEAT, HIGH GRADE” under the state House of Assembly.

    Also N161,772,000.00 was earmarked for the for procurement of one Toyota LC3003.5L, twin turbo for the House speaker.

    The budget also revealed that N143,106,000.00 was meant for the purchase of one Toyota LC300GX, 4.0L under the state assembly.

    Under the “Office of the Governor”, a total amount of N18,971,887,528.84 was earmarked for provision of contingencies to address unforeseen circumstances.

    Governor Abiodun has for days been trending on X over bad roads in some communities in the state.

    A user, @HauwaAllahbura had accused him of promising to fix major roads in the state when he was soliciting votes but he had failed to fulfill his promise.

    She had written in pidgin English, “Good morning Nigerians. In 2020, when Dapo Abiodun was looking for votes, he said to us on X that he was fixing a few roads listed in his tweets. Here is the condition of some of the roads in his tweet. He fix am abi him no fix am? I will allow you to judge.”

  • Wahala: Customs Officials Beat NNPC Station Attendants in Ogun — Because of N100

    Wahala: Customs Officials Beat NNPC Station Attendants in Ogun — Because of N100

    Officials of the Nigeria Customs Service (NCS) assaulted staff members of the Nigerian National Petroleum Corporation (NNPC) filling station at the Honda Bus Stop in Ota, Ogun State, on Friday, FIJ has gathered.

    FIJ learned that the customs officers took umbrage and threatened to shoot after a staff member of the filling station asked for N100 charges for their transaction on the point-of-sale machine.

     

    An eyewitness said that the angry Nigerian customs officers beat up the NNPC’s station supervisor and injured a customer.

     

    She said that the point-of-sale merchant at the station had told the customs officers, who wanted to fill up their tank with fuel worth N30,000, that if they paid with an ATM card all at once, they would have to add N100 for bank charges.

     

    According to the eyewitness, the attendant explained that if the officers were willing to allow her to withdraw N15,000 twice, they would incur no charges, as only transactions of N20,000 and above attracted such.

     

    “As the officers were arguing with the lady, the male attendant trying to sell the fuel to the officers chimed in to explain that the filling station was not benefiting from the charges, as it belongs to Moniepoint, the filling station’s bank, but that made their hackles rise,” the eyewitness said.

     

    “They got so angry that one of them hit the male attendant with a gun. In an attempt to parry the gun, he sustained an injury to his arm. In fear, the attendant ran away.”

     

    She said the customs officers asked the PoS merchant, who was now afraid, not to leave. At that point, she said, the officers then began pointing the gun at other filling station attendants, saying, “You’re all thieves. Is that what Nigeria asked you to do?”

     

    The officers began to cock their guns and charge at everyone at the filling station, so both customers and staffers fled the premises, except a customer who had a flat tyre.

     

    They beat the customer and broke his phone. They said he was recording them, but he was only calling someone to bring some tyres to him. He had to beg them, rolling on the floor, before they let him go,” she said.

     

    “And while doing this, they kept asking for the manager of the filling station. At this time, she didn’t face them but ran to a nearby police station to report the matter. In place of the manager, they beat the supervisor, thinking he was the general manager.

    “They started saying they came here and asked the attendants to sell inside kegs but they refused and now wanted to collect money for charges. They called the attendants thieves.”

     

    She said that the filling station’s general manager returned from the Obasanjo Onipanu police station with four policemen.

     

    The team leader of the police spoke with the commander of the customs officers.

     

    “After their discussion, the police officer told her to forgive the erring officers. She immediately said the action of the customs officers was unfair because her staffers did nothing wrong,” the eyewitness said.

     

    “They then asked her why she didn’t show up when they were asking for the manager of the filling station. She told them it was impossible to confront them at the time as the manager because they were armed, which was why she reported to the police instead.

     

     

    “One of the customs officers said, ‘As you have reported, what do you now want to happen? We cocked our guns, so what do you want to do?’ While they were shouting, people took her away from their midst and back to the station. When they were ready to buy, the attendants refused to sell to them, so they just had to leave the compound.”

     

    Based on the eyewitness’ discussions with the attendants, she believed that the customs officers acted irresponsibly because, on the previous Monday and Tuesday, they refused to sell fuel to them in jerrycans.

     

    When FIJ called the Nigeria Customs Service via the phone number displayed on its Facebook page, they said they had yet to hear of this matter. They asked this reporter to go to the Ogun State Command of the Nigeria Customs Service for information.

     

  • REVEALED: In March, Presidency Paid N10m Into Private Account to Purchase ‘Consumables’ for Shettima’s Wife

    REVEALED: In March, Presidency Paid N10m Into Private Account to Purchase ‘Consumables’ for Shettima’s Wife

     

     

    Nigeria’s presidency made a N10 million advance payment to a personal account belonging to one Abbas Haruna Katsalla to purchase consumables for Nana Shettima, the wife of Vice President Kashim Shettima, FIJ has gathered.

     

    In what appears to be a violation of multiple laws, the state house headquarters facilitated the payment on March 15, 2024. They logged the transaction as catering to the needs of the “office of the wife of the VP”, a fictional office with no constitutional backing.

     

    FIJ toured the state house’s transaction records for 2024 as published on the Open Treasury Portal and duplicated on the Govspend Portal and found the odd transaction with payment number 1001161608-2 described as: “Being payment of cash advance granted for the purchase of consumables items, for the office of her excellency, wife of the VP.”

     

    Looking  into the legality of Katsalla receiving money into his personal account from the government.

     

    Chapter 7, Section 713 of Nigeria’s Financial Regulations (2009), states: “Personal money shall in no circumstances be paid into a government bank account, nor shall any public money be paid into a private account. Any officer who pays public money into a private account is deemed to have done so with fraudulent intention.”

     

    This legal provision would mean the State House has erred in its dealings with the individual, and such dealing, according to the law, is deemed fraudulent.

     

    It is not the first time a family member of an elected member of the presidency has benefited from such transactions. FIJ earlier reported how the vice president’s office paid N10 million to offset hotel accommodation cost for guests of Folashade Tinubu, the president’s daughter.

     

    Earlier in the year, President Bola Tinubu suspended Betta Edu, humanitarian affairs and poverty alleviation minister, over payments from her office to several private accounts.

     

     

  • Konga ex-CEO’s death: Househelp reveals last conversation with deceased

    Konga ex-CEO’s death: Househelp reveals last conversation with deceased

    LAGOS—The maid of the former Chief Executive Officer of Nigerian e-commerce giant, Konga, the late Nick Imudia (names withheld), has disclosed the last conversation she had with her boss before news of his death was announced last week.

    Vanguard, meanwhile, gathered that the late Imudia’s family had requested his body for burial.

     

    The maid, according to a close friend of the deceased, who spoke with Vanguard on the condition of anonymity, said late Imudia called her a day earlier and handed her a piece of paper with five telephone numbers, including that of his brother in the United States of America.

     

    According to the deceased’s friend, “She said Nick told her to keep the numbers, that she would need them at the appropriate time. Thereafter, she said he went into the bathroom and heard the shower running, indicating that he was having a bath.

     

    “She said after some time, she observed that the shower was still running and wondered what he could still be doing for so long. She knocked on the door, but there was no response and she left.

     

    Moments later, she said the private guard knocked on the door and informed her to come and see what had happened to Nick. She rushed downstairs and found him in a horrible state. Immediately, she rushed upstairs and still met the shower on. By the time she opened the door, she discovered there was nobody in there.”

     

    Meanwhile, the family, according to the deceased’s friend, had requested the release of Imudia’s body for burial.

     

     

     

  • Toyota to launch three electric vehicles in Nigeria

    Toyota to launch three electric vehicles in Nigeria

    Toyota Nigeria Limited has announced plans to roll out three electric vehicles in the country in the next three years as part of its support for the government’s green deal initiative.

     

    Managing Director of TNL, Mr. Kunle Ade-Ojo, disclosed this on Friday while speaking with journalists at the maiden edition of the Toyota Motor Show organised by the TNL.

     

    He gave the Toyota hybrid electric vehicles coming to Nigeria soon as the Toyota Cross, RAV4 and Land Cruiser Prado.

     

    Ade-Ojo said, “By the end of this year, we’ll be introducing our first hybrid electric vehicle, Toyota Cross. Next year, we’ll introduce the RAV4 hybrid. And late next year or early 2026, we would be bringing in the Land Cruiser Prado hybrid,” he stated.

     

    He also said TNL would be lending its big network of workshops to support the Federal Government’s campaign for the use of Compressed Natural Gas-powered vehicles through conversion.

    “We are almost concluding arrangements with different partners to use our network of workshops for vehicle conversion to CNG-powered,” he said.

    The TNL MD recalled that Nigeria sold about 10,000 new vehicles last year, with Toyota recording about 1,500 units.

     

    He said that about 15,000 new vehicles were projected to be sold in Nigeria this year, adding that Toyota was on course to double its last year’s performance.

     

    The exclusive motor show came with a number of activities such as a vehicle display, two new Toyota product launches, special after-sale packages, test drives, and, engaging interactions.

     

    The three-day event (June 27-29) was held in Lekki, under a setting and ambiance akin to international auto fairs in Europe and America.

  • Lagos Airport: Airlines Staff Connive With Touts, Sell One-Way Ticket At N250,000

    Lagos Airport: Airlines Staff Connive With Touts, Sell One-Way Ticket At N250,000

    LAGOS – Ticket racketeering is currently gaining traction at most Nigerian airports, especially at the Murta­la Muhammed Airport (MMA), Lagos, where a one-way ticket out of the airport has skyrocketed to N250,000.

     

    Many unsuspecting and des­perate passengers are swindled by most of the airlines staff in connivance with airport touts to intentionally hoard air tickets and sell such to highest bidding travelers at the terminal in the last moments of departing flight.

     

    Also, investigation by Daily Independent revealed that rather for these touts to allow air trav­elers pay across the counters, using the airlines Point of Sales(PoS) machines, they fraudulently produce private PoS machines to passengers to make payment.

     

    Investigation by Daily Indepen­dent indicated that this heinous act is happening regularly at the Gen­eral Aviation Terminal (GAT), and the Murtala Muhammed Airport Two (MMA2), all in Lagos.

     

    Further investigations also revealed that this dastardly act in connivance with some airlines staff is being carried out by air­port cleaners, trolley staff, airport staff and others.

     

    The number of touts and tout­ing activities have continued to be on the rise at the nation’s airports despite the efforts of the Federal Airports Authority of Nigeria (FAAN) of riding the airports of such.

     

    It is extremely difficult for air travelers to secure seats in most of the domestic airlines to major routes in the country 48 hours to scheduled flight as the seats are blocked by touts and some airline staff.

     

    Searches on the booking por­tals of some of the indigenous airlines usually indicate that most of the tickets are either ‘sold out’, or only have one or three seats available 48 hours before depar­ture, which prompted desperate travelling passengers to patronise touts at the airports.

     

    At MMA2 on Saturday, Daily Independent observed that touts within the terminal approached unsuspecting passengers for the procurement of air tickets.

    It was observed that a one-way ticket from Lagos to Abuja for passengers travelling the same day, cost between N220,000 and N250,000, depending on who ac­costed you and your bargaining power.

    It was observed that the touts working closely with some of the airlines staff would get a code for payment, using a private PoS ma­chine for a willing passenger.

     

    Also, some of the passengers who bought Aero Contractors and Arik Air tickets at the exorbitant rates for flight on Saturday, could still not travel as planned as the two airlines canceled their eve­ning flights to Abuja.

     

    Some of them were re-sched­uled for Sunday morning by the two airlines.

     

    One of the affected passengers who gave her name as Mrs. Taiwo Abdulkadir, in an interview with Daily Independent at the GAT, lamented that touting activities in collusion with some airline staff was on the increase.

     

    According to Abdulkadir, who was unable to secure ticket through the portal of one of the major airlines, had come to the airport to buy a one-way ticket to Abuja, but was introduced to one of the touts by an unnamed airline staff.

     

    She explained that the tout had offered to sell the ticket to her at N250,000, but not with the air­line’s PoS machine, but a private machine without traceable name.

     

    1. She expressed surprise how the touts were able to gain en­trance into the departure termi­nal of the airport, warning that if not quickly nipped in the bud, standards would continue to drop in the industry.
  • NLC kicks against calls for different minimum wage for states

    NLC kicks against calls for different minimum wage for states

    NLC kicks against calls for different minimum wage for states

    The Nigeria Labour Congress (NLC) has opposed the call by some politicians for decentralizing minimum wage negotiations allowing states to have different minimum wages.

    In an interview with the News Agency of Nigeria (NAN) on Sunday in Ibadan, the Secretary of NLC in Oyo State, Mr. Adebayo Aribatise, stated that decentralizing minimum wage negotiations would disadvantage workers in some states.

    Explaining the broader implications of a centralized minimum wage, Fayemi noted that only a small percentage of the population benefits directly from minimum wage negotiations.

    However, Aribatise strongly opposed decentralizing minimum wage negotiations, stating that it is not ideal for the country.

    He pointed out that some states have not yet fully implemented the old N30,000 minimum wage despite the efforts of the NLC at both the national and state levels.

    He said, “The fact remains that the law binds states to pay national minimum wage. It is expected that the federal government will continue to set the minimum wage. If not, some governors will continue to do as they like.”

    “Some governors will bastardise the agreement if we allow it and junior workers will continue to earn nothing worthwhile,”

    Backstory

    Former Ekiti State Governor, Dr. Kayode Fayemi, had earlier emphasized the need for states to conduct wage negotiations with their labour unions independently from the Federal Government.

    Fayemi explained that the position of the Nigerian Governors’ Forum, which he once chaired, was that states should be allowed to negotiate with their labour unions separately, as “fingers are not equal.”

    What you should know

    The negotiation for a new minimum wage has lingered on in the past months due to the difficulty of different stakeholders in reaching a consensus.

    While the federal government and the private sector have agreed on a new minimum wage of N62,000, organised labour led by the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) are proposing N250,000.

    According to organised labour groups, a N62,000 minimum wage is not enough for the average worker in light of the significant increase in the cost of goods and services across the nation.

    The federal government had earlier stated that it cannot sustain the proposed minimum wage by organised labour which would amount to around N19 trillion yearly.

    On the other hand, the private sector led by NECA had also complained that it cannot meet the demands of labour unions now or any time soon stating the goal of the tripartite committee is to focus on job creation.

    The negotiation for a new minimum wage has been thorny leading to strike action that nearly crippled the economy with the shutting down of the national grid.