Frequent FX Rate Adjustment, 48.5% Customs Duty Increasing Production Cost The recent 48.5 percent hike in customs duty by the Central Bank of Nigeria (CBN), through the upward adjustment of the exchange rate for calculating import duties, is expected to push up production costs for...

Motor Vehicle Imports, Others Record Extensive Decline As naira continues to depreciate, Nigeria’s motor vehicle imports recorded a massive 32 per cent decline in 2023 with total imports through the Nigerian ports at 132,293 units, from 194,550 recorded in 2022. Findings from the Nigerian Ports Authority...

You'll Lose your Investments in Crime - NDLEA, NCS Heads Tell Drug Barons Chairman of the National Drug Law Enforcement Agency, NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd) and the Comptroller General of the Nigeria Customs Service, Bashir Adewale Adeniyi, have commended the synergy between...

Customs Revenue Rises 21.4% to N3. 206 trn The Nigeria Customs Service (NCS) has recorded a N3.206 trillion revenue collection in 2023, representing an increase of 21.4 percent from N2.64 trillion recorded in 2022. The Comptroller-General (CG) of Customs, Mr. Adewale Adeniyi , disclosed the figure...

With China's Experience, Tinubu's Economic Reforms will Liberate Nigeria  By Oche Echeija Egwa By nature, most people would like to dodge payment of taxes if the system allows it. It’s not surprising that some easily agree with the saying that tax collectors rarely have many friends....

Families of Slain Customs Officers to Get Insurance Payments Soon - NCS Boss By Zeenat Sambo The Comptroller-General of the Nigeria Customs Service (NCS), Mr Bashir Adewale Adeniyi, has assured that the families of the offcers who were killed on duty recently will receive their insurance...