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Category: Business

  • NDIC Pays N16.18bn Dividends To Depositors Of 20 Liquidated Banks

    Following impressive recoveries from debtors and realisation of assets of banks in liquidation, the Nigeria Deposit Insurance Corporation (NDIC) has announced declaration of N16.18 billion liquidation dividends to depositors, creditors and shareholders of 20 banks in-liquidation. 

    Liquidation dividend represents amount in excess of the insured sums paid by the NDIC to depositors of a closed bank from recoveries made from realisation of assets of failed financial institutions. It also covers amount paid to creditors and shareholders of closed bank after full payment to depositors of such defunct bank. 

    To this end, the Corporation has commenced verification and payment of stakeholders covered by the declarations within 30 days, starting from 28th September 2023. 

    A statement signed by Director, Communication & Public Affairs of the Corporation, BASHIR A. NUHU, Monday in Abuja, theongoing payment is sequel to earlier payment of various sums which cumulatively amounted to N45.45 billion as liquidation dividends in respect of the 20 banks as at July 2023.

    The closed banks covered by the exercise are Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), Premier Commercial Bank, North South Bank and Prime Merchant Bank. Others are Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank and Amicable Bank in-liquidation. 

    Relevant stakeholders have been requested to visit any of the NDIC’s offices closer to them or go to the claims page on the Corporation’s website, www.ndic.gov.ng to download, complete and submit the verification form with prescribed supporting documents to the dedicated email for the purpose: claimscomplaints@ndic.gov.ng. 

  • Safety Violation: HEDA Petitions Police, Wants Probe, Sanction Of Max Air

    Safety Violation: HEDA Petitions Police, Wants Probe, Sanction Of Max Air

    The Human and Environmental Development Agenda (HEDA Resource Centre) has petitioned the Nigeria Police Force against Max Air, citing grave concerns over the endangerment of lives due to reported safety violations.

    This move comes in the wake of Max Air’s purported presentation of altered records to the Nigerian Civil Aviation Authority (NCAA) and its alleged engagement of unauthorized engineers in aircraft servicing.

    Max Air was suspended after one of its aircraft crash-landed at Nnamdi Azikiwe International Airport in Abuja on May 7, 2023. The incident imperiled the lives of more than 143 passengers on board

    In a petition signed by HEDA’s Chairman, Olanrewaju Suraju, addressed to the Inspector General of Police, Dr. Kayode Egbetokun, the CSO detailed the findings of the NCAA audit, which was conducted between July 17, 2023, and July 20, 2023. The audit exposed a litany of safety deficiencies within Max Air’s operations, ultimately resulting in a second suspension.

    “HEDA therefore unequivocally calls for a thorough and exhaustive investigation into these allegations, as well as appropriate legal actions against the management of Max Air Ltd,” it said, in the petition.

    The comprehensive 11-page audit report and accompanying correspondences revealed a staggering 27 critical safety issues observed within the airline’s fleet under scrutiny.

    “These issues encompassed a wide range of concerns, including but not limited to: Alleged submission of altered records to the NCAA, coupled with the failure to replace life-limited components in accordance with regulations, and absence of substantial evidence to defend the airworthiness of recently installed landing gears on one of Max Air’s aircraft.

    “Other breaches are: documentation of incorrect maintenance practices, notably following a bird strike incident; the engagement of unauthorized engineers in performing maintenance tasks; neglect of mandatory duplicate inspections following pivotal tasks; ineffective management of Airworthiness Directives for the entire fleet; shortcomings in the qualifications of Non-Destructive Testing (NDT) personnel; and non-compliance with established procedures for ensuring the efficacy of the Aircraft Maintenance Program.

    “These serious findings highlight a pattern of disregard for safety regulations and standards by Max Air, putting the lives of air travelers at risk.

    HEDA strongly urged the Nigeria Police to conduct an exhaustive investigation into the contents of the NCAA audit report and to take action.

  • BUA Slashes Cement Price To N3500 Per Bag

    From Monday 2nd October, 2023, Nigerians would buy a bag of BUA Cement for N3,500 from the N5,700 that it was previously sold for. 

    A statement signed by the management of the company Sunday, the reduction in price is keeping with its promise of bringing down the price of the commodity when it completes its production line. 

    BUA Chairman Samad Rabiu, at the company’s Annual General Meeting has told journalists that Nigeria would see a reduction in the price of cement by January when its production line is complete. 

    However, the reduction in price is coming few months earlier that the BUA Cement Chairman said. 

    “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year in order to spur development in the building materials and infrastructure sectors.

    “As per the commitment made to reduce prices and following a periodic review of operations for efficiency, the management of BUA Cement Plc wishes to announce to our esteemed customers, stakeholders, and the public that effective October 2 2023, we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

    “Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC, tends to review these prices further in line with our earlier pronouncement by the first quarter of 2024.

    “All pending, undelivered orders which had been paid for at the old price will be reviewed downwards to N3500/bag in line with the new pricing fro October 2, 2023. Our licensed dealers are also enjoined to ensure that end-use benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance,” the statement read. 

  • Inadequate Infrastructure, Bane Of e-Payments in Nigeria -Fintech Experts

    Experts in Nigeria’s Fintech industry have said that the major challenges facing electronic payments in Nigeria is the inadequacy of infrastructure, including operational and telecommunications facilities, as well as reliable electricity supply.

    They opined the need for stakeholders in the financial industry to work together and extend e-payments channels across the country as well as finding solutions to the growth of fraudulent activities in the system.

    Chief Finance Officer Parthian Partners, Yinka Arewa while making presentation on the “Collaboration, Key to tackling challenges facing E-PAYMENT System in Nigeria, said many e-payment systems depend on stable power sources and robust IT infrastructure, such as laptops, mobile phones, POS terminals, and dependable internet connectivity. 

    He said during the period of cash scarcity earlier this year, banks faced unprecedented e-payment failures, prompting the urgent need for technological infrastructure upgrades. 

    He said the failure of e-payment channels on such a scale compelled customers to wait for banks’ networks to stabilize before completing their transactions while the FinTech companies, initially considered a lifeline, also encountered challenges due to increased pressure. 

    He pointed out that the recent events, such as the implementation of the cashless policy following the Naira redesign late last year/early this year, highlighted the challenges associated with the country’s transition to a cashless economy

    He said the issue of failed transactions has persistently affected numerous businesses reliant on electronic payment systems. 

    He stated that the rapid growth in financial technology has broken down geographical barriers, introduced innovative approaches, and ushered in numerous advancements, but at the same time has exposed us to unprecedented risks, including cybercrime.

    He pointed out that cybercrime poses severe societal and economic consequences, ranging from facilitating corruption, money laundering, and military espionage to terrorism, all of which undermine technological and socio-economic development. 

    Speaking further, he said Cybercrime’s impact on customers is substantial, as everyone desires the safety and security of their hard-earned money. Trust is the linchpin of finance, and no one wishes to witness their funds vanish. Security concerns stemming from electronic fraud and cyberattacks are real. The automated nature of payments without direct interaction between the payer and payee renders e-payments vulnerable and with the proliferation of digital financial activities, cyber threats are expected to rise”

    But despite all these challenges, he said In 2022, Nigeria unlocked $3.2 billion in additional economic output through the development and utilization of electronic payments, particularly real-time payment services. 

    “Electronic payments continue to attract substantial global investments and have exhibited the highest returns and growth within the sector over the past decade. 

    Indeed, Nigeria has witnessed a remarkable digital transformation, with over 100 million active mobile phone users as of 2023.

    “This statistic signals the advent of a fully digitized financial services sector. However, despite these advancements, Nigeria’s payment system predominantly relies on cash.” 

    Managing Director, Nigerian Inter Bank Settlement Systems (NIBSS), Premier Oiwoh, called for stakeholders’ partnership to extend e-payment channels across the country. 

    He said that such partnership will, in addition to wider coverage, help to checkmate abuses, dispense errors, instant resolution of errors as well as update technological resources in delivering first-class e- payment across the country. 

    Oiwoh who was represented by the Divisional Head, Enterprise Support NIBSS Bola Onigbokan, said: “Collaboration is mandatory; it is not a choice, adding that as we have gathered here doing our workshop planning how to move forward, the fraudsters are also brainstorming and strategizing on how to operate and often times, they are even ahead of us. I think that is even why we are even having this discussion today.”

    He assured Nigerians that the national payment infrastructure of NIBSS, owned by banks, were committed to ensuring seamless transactions, customer protection, and the improvement in technologies driving e-payment systems.

  • NEPC Trains Exporters On Snail Production, Packaging For Export

    NEPC Trains Exporters On Snail Production, Packaging For Export

    The Nigerian Export Promotion Council (NEPC) has trained exporters in Imo on snail farming, processing and packaging for exportation.

    The one-day training took place in Owerri on Friday.

    Speaking at the workshop, Executive Director of the NEPC, Dr Ezra Yakusak, said that the training was one of many efforts by the Council to reduce dependency on oil and gas, while simultaneously growing the nation’s economy.

    Speaking on the theme “Producing Snail for Export,“ Yakusak who was represented by the NEPC Coordinator in Imo, Mr Anthony Ajuruchi, said that snail farming had proven to have the potential to feed the nation.

    He said that with a total global estimate of about $2.1 billion, snail farming, if given necessary attention, could grow Nigeria’s Gross Domestic Product (GDP) especially with the prevailing local conditions that support the development of the practice such as suitable climate and availability of green vegetation.

    “We’re raising the capacity of entrepreneurs to equip them to join the global snail market and compete meaningfully so as to grow Nigeria’s GDP using non oil exports.

    “We are also looking forward to organising the Imo Exporters Summit and plans are already in top gear.

    “Entrepreneurs in Imo and Nigeria are making frantic efforts in the export industry and we will keep offering our support and mentorship to keep them at par with their counterparts in other parts of the world,” he said.

    Also speaking, one of the resource persons, Miss Chinonso Onwukwe, the Chief Executive Officer of Suncious Farms Limited, said that modern technology had been developed to overcome the natural wetness of snails and be able to preserve them over long periods.

    “With oven drying, snails can be preserved for some six months to one year. Snail farming is not capital intensive yet it is lucrative.

    “It can be consumed by all especially as it is a healthy food with high protein and calcium contents. Everything in a snail including the shell is nutritious and lucrative.

    “We market our products in the US, UK and other places and there is nothing to regret about snail farming. It’s not time consuming yet it’s super lucrative, I can confirm,” she said.

    According to another resource person, Mr Joseph Ozor, said that though the natural habitat of snails has been threatened by urbanisation, there are still substitute methods of snail farming which produce desired results.

    Ozor, a Biologist, urged participants at the workshop to venture into large scale snail production for commercial purposes and to take advantage of mentorship opportunities in the field.

  • UBA Anchors H2 Profitability On Customer-Centric Values

    The United Bank for Africa (UBA) Plc, has pledged its commitment to customer-centric values as it aims to build upon its successes to sustain profitability by the end of the current financial year.

    UBA’s Group Managing Director, Oliver Alawuba, who gave the assurance at the half year Investor Conference Call Presentation in Lagos, explained that the bank’s impressive performance was characterised by robust revenue generation, prudent cost management, and strategic capital allocation.

     UBA is a leading pan-African financial institution, offering banking services to more than thirty-seven million customers across 1,000 business offices and customer touch points in 20 African countries.

    Alawuba’s assurance comes on the back of exceptional performance in the first half of the 2023 financial year.

    According to him, these achievements have provided the bank with a solid foundation upon which to further enhance its position as a leading financial institution in Africa and beyond.

    In its first half results ended June 30, 2023, UBA showcased its financial resilience and strength, surpassing expectations with remarkable performance as it reported a profit before tax of N404 billion, representing a rise by 371 per cent, compared to N85.75 billion recorded in the first half of 2022. 

    With that performance, UBA became the most profitable financial institution in Nigeria.

    The result also showed that Operating Income grew by 206.6 per cent to N783.96 billion in June 2023; higher than N255.67 billion reported a year earlier, just as it delivered a 164 per cent growth in its Gross Earnings which rose to N981.78 billion as at June 2023, up from N372.36 billion recorded last year in June 2022.

    Alawuba said, “These figures reflect our ability to finance future growth and help individual customers, families, businesses and non-profit organisations to carry out their projects. At UBA, we remain focused on our Customer First philosophy and growing our share in the various markets we operate. 

    “Thanks to our scale, geographic footprint and business diversification, we have numerous opportunities to grow, which should allow us to remain our customers’ first choice and to make the most of those opportunities, our focus is on implementing plans that enhance the existing network across all the countries and businesses, and improving the profitability of our core businesses through disciplined capital allocation.”

    He further promised that notwithstanding the accomplishments in the first half of the year, the Bank is committed to rendering excellent services to its customers and staying focused on its strategy and corporate objectives.

    Just last week, the Bank announced the rolling out of a special financing initiative aimed at powering the growth of small and medium scale enterprises (SMEs) all over Africa. In partnership with the African Continental Free Trade Area (AfCFTA) secretariat, UBA is to inject up to $6 billion into eligible SMEs across Africa over the next  three years.

    “Under the initiative, SMEs specializing in agro-processing, pharmaceuticals, automotive and transport, and logistics will have access to tailored financing solutions. This move is especially beneficial for businesses that operate within these sectors which heavily rely on imports,” Alawuba said.

    UBA’s Executive Director Finance & Risk Management, Ugo Nwaghodoh, while highlighting the bank’s investment in digital banking, added that the bank continues to gain traction from its huge investments in technology.

    “Our investments in state-of-the-art technology continue to yield expected results, evident in the huge boost of our digital banking income, which grew 53,7 per cent year-on-year to N57.2 billion. These gains have enabled us to optimize net earnings amid the accelerating inflationary pressure, currency devaluation, and increased regulatory induced cost,” he explained. 

    He added that focusing on the bank’s sustained growth across its African Markets, UBA remains focused towards delivering innovative and personalised financial products and services that cater to the unique needs of its diverse customer base.

  • Suspicious Payments: Presidential Tax Committee Received N5bn From FIRS -Chairman

    Suspicious Payments: Presidential Tax Committee Received N5bn From FIRS -Chairman

    The Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele has confirmed that the committee got the sum of N5 billion from the Federal Inland Revenue Service (FIRS).

    In a statement on his official X handle, the Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele said the statement became necessary due to a report by the Cable Newspaper that the immediate past FIRS Chairman, Muhammad Nami, approved the sum of N11 billion after he left office.

    But in a statement Thursday, Nami explained that the Cable report was out to tarnish his hard-earned reputation.

    In the statement, Nami took time to explain the approvals he carried out before he left the revenue agency.

    “The N5 billion paid to the Joint Tax Board was paid to fund the activities of the Presidential Committee on Tax and Fiscal Policy Reforms two months before I left office. It was paid after we received a letter to that effect from the office of Mr. President signed by Zacch Adedeji himself. 

    “The report maliciously attempts to portray a picture that I hurriedly left the country on September 16th after these so-called “suspicious approvals” were made. Again, nothing can be further from the truth. If I traveled out of the country on the 16th of September, how then did I attend the handover ceremony with Mr. Zacch on the afternoon of Monday 18th September 2023? That handover ceremony was covered by the media, and can be cross-checked. 

    “It is disappointing to see the Cable, a revered online newspaper attempt to sensationalise events that took place in the ordinary course of work in office, making them seem as if they were done in bad faith,” Nami said.

    Oyedele said, “We are aware of a recent story regarding some funds transferred by the FIRS to the Joint Tax Board (JTB) for the Presidential Fiscal Policy and Tax Reforms Committee.  

    “The Committee’s budget includes provisions for a national “Data for Tax” project which the JTB has been championing for over 2 years. The project was presented to the National Economic Council in 2022 and was meant to be funded by the federal government and the 36 states. However, it stalled due to lack of funds. Given the importance of the project to the effective reform of our tax system, it was included in the Committee’s budget. 

    “Other expenses included in the Committee’s budget, which has the approval of the National Assembly, include setting up of offices for the Committee in Lagos and Abuja, payment of salaries for the full time staff engaged by the Committee, travels and other logistics for over 70 members representing more than 40 institutions and stakeholder groups mapped to 6 different Subcommittees, more than 30 Secretariat personnel and over 40 students across the country. In addition, the budget covers planned stakeholder engagements with various sectors and interest groups, as well as international engagements and understudy of some leading tax regimes around the world, and so on. The budget covers a period of one year being the lifespan of the Committee.

    “It should be noted that the Committee was not set up simply to produce reports and recommendations, we are also charged with the implementation of recommended and approved proposals which need to be funded. 

    “The Committee’s mandate includes ensuring prudence and accountability in the management of our national resources. It will therefore be a contradiction for the same Committee to be wasteful or reckless in its own affairs. Members of the Committee work on a volunteering basis and are only paid reasonable allowances to cover their out-of-pocket expenses as we cannot afford to pay the commercial value for their time, skills and experience. As the Chairman of the Committee, despite working full time on the assignment, I do not receive a salary.

    “All the expenses of the Committee are properly documented and available for audit. We collect receipts for fuel, stationeries, and virtually every Naira that we spend to the extent possible. Over N4 billion of the said funds transferred by the FIRS to the JTB for the Committee’s work is yet to be spent and very much intact in the JTB account.”

    He assured that the Committee will be responsible, prudent and accountable with every Naira of public funds that it will be entrusted with. 

  • NPA To Commence Full Automation, Cargo Tracking -FG

    NPA To Commence Full Automation, Cargo Tracking -FG

    The Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola has disclosed that the Nigerian Ports Authority (NPA) will soon commence the implementation of full automation and cargo tracking across the various ports in the country to promote Port efficiency and Ease of Doing Business.

    Oyetola made the disclosure recently in Abuja, when he received a renowned entrepreneur and sustainability expert, Prof. Gunter Pauli, who is on a three-day visit to Nigeria. 

    Pauli’s visit was facilitated by his partners in Nigeria, Premium Blue Economy Innovation and Investment (PBEI& I).

    The Minister stated that the Federal Government is keen on the diversification of the Nigerian economy away from the oil industry, hence, it was intentional when it created the new Ministry of Marine and Blue Economy. 

    “Again, we are going to be talking of automation of ports to make them more efficient. I would like to tell you that in another two years, it will all change. We are bringing in automation and cargo tracking as we are working on that for implementation” he said. 

    Speaking further, the Minister said that the government is interested in partnering with relevant stakeholders under the Public Private Partnership (PPP) arrangement to maximize and explore the resources of the ocean sector for rapid economic development, improve the livelihood of its people and create jobs as well as preserving the health of the ecosystem. 

    According to him, “seventy percent of the resources that are available actually comes from the ocean, and we have it in abundance here”. 

    ” I believe in the Public Private Partnership arrangement. The government will create an enabling environment for businesses to thrive and our concept in dealing with these, is purely in PPP, and I see quite a lot of opportunities there,” Oyetola said.

    In addition, the Minister noted that the Nigerian water ways have enjoyed adequate security with no single incidence of piracy for the past two years. He, therefore, called on investors to take advantage of the opportunities and partner with the newly created Ministry to drive development. “We have sufficient control of our ocean in terms of security and there has been nothing like piracy in our ocean. So, the fear of investors about the safety of their investments is out of it now,” he argued.

    Speaking earlier during the visit, Professor Gunter Pauli said his team was in Nigeria to partner with the Ministry on commercial and technological innovations and job creation around the sector. He argued that his partnership with the Ministry will attract foreign and local investments that would create a lot of opportunities for the Nigerian youths. 

    Also present at the event, was the Permanent Secretary, Federal Ministry of Transportation / Marine and Blue Economy, Dr. Magdalene Ajani, Directors and Heads of Parastatals under the Ministry and other Senior Management Staff.

  • Cardoso Pledges Conducive Atmosphere For Foreign Investments

    Cardoso Pledges Conducive Atmosphere For Foreign Investments

    Following his confirmation as the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has said that the CBN will do all within its statutory functions to address identified distortions and ensure a conducive atmosphere for different categories of investors. 

    He gave the assurance in his office on Thursday, when a group of investors paid him a courtesy visit, noting that under his leadership, the new management team at the Bank will do its best to tackle the impediments to liquidity in the foreign exchange market in Nigeria.

    While disclosing plans to formally unveil his agenda for the monetary and financial sector in the days ahead, Mr. Cardoso stressed the importance of credibility and transparency in implementing the Bank’s monetary policy.

    To achieve this, he said the Bank would focus on strengthening its data-gathering system to ensure that only verifiable data will be relied upon for evidence-based decisions. According to him, the CBN would also adhere to rules that are known, acceptable and transparent for the conduct of monetary policy.

    Speaking further on liquidity management, he said his team had a short-term goal of addressing structural issues within the financial system that gave rise to the liquidity challenge in the first instance. 

    On the relationship between the monetary and fiscal authorities, the new CBN Governor said there would continue to be consensus between both authorities to harmonise their positions on the interest rate and inflation. He, however, said the Bank would remain open to different views in its push for greater transparency.

    Meanwhile, Mr. Cardoso said the Bank would only provide strategic policy support to critical sectors of the economy while allowing experts to take charge of such critical sectors, given that the expertise lies within other relevant agencies. 

    In their remarks, the investors, led by Mrs. Ireti Samuel-Ogbu, said they were at the CBN to discuss ways of strengthening collaboration to boost foreign investment in Nigeria. The group also emphasised issues around the Bank’s independence and the need to grow the country’s foreign exchange reserve, among other issues.

  • Customs Exceeds Monthly Target, Generates N343bn In August 

    Customs Exceeds Monthly Target, Generates N343bn In August 

    The Acting Comptroller-General (CG), Nigeria Customs Service (NCS), Mr Adewale Adeniyi, has disclosed that the service exceeded the revenue target for the months of July and August.

    Adeniyi, who spoke while presenting the scorecard for his 100 days in office on Thursday in Abuja, said that the NCS generated N307 billion in July and N343 billion in August

    “One of our early achievements has been a remarkable boost in monthly revenue collection.

    “We have witnessed a substantial increase, with an average monthly collection of 202 billion in the first half of the year that concluded in June, surging to an impressive 343 billion in August.

    “This outstanding growth amounts to a remarkable 70.13 per cent increase in revenue collection.

    “I am delighted to announce that we have consistently exceeded the monthly target collection, marking a remarkable departure from previous performances,” he said.

    He said that the ongoing revenue recovery review activities hadl contributed an additional eight billion Naira during the period.

    “This underlines our commitment to revenue generation. Subject to unforeseen circumstances, our aim is to sustain and even expand this momentum until the end of the year.

    “This commitment is driven by our resolve to minimise the deviation from the target, especially in light of the substantial shortfalls recorded during the first half of the year,” Adeniyi said.

    He said that the NCS had recorded appreciable results in its ongoing battle against smuggling

    “We have successfully intercepted various contraband items, including arms, ammunition, illicit drugs, substandard pharmaceuticals and other prohibited goods that pose grave risks to our citizens.

    “These seizures accompanied by the apprehension of 62 suspects undergoing legal procedures, underscore our commitment to tackling smuggling and safeguarding our communities.

    “Notably, a significant surge in impactful seizures, especially involving arms, ammunition, and drugs, has occurred in the past two months, reinforcing our resolve to combat these illegal activities,” he said.

    He said that NCS had forged stronger alliances and fostered an environment of trust and cooperation among stakeholders in the public and private sectors., as well as international partners.

    The acting CG said that NCS was at the verge of introducing multiple cutting-edge solutions to support the enforcement strategies, starting with the signing of an Memorandum of Understanding (MoU) that seeks to put vehicle smugglers out of business for good.

    “As we reflect on the achievements of the first 100 days in office and the journey we have embarked upon, it is essential to look ahead with a clear vision for the future.

    “The next phase builds upon the foundation we have laid, and it is characterised by unwavering dedication to our policy thrust of consolidation, collaboration, and innovative solutions.

    “Looking forward, we envision a service that is not only the most efficient and service-driven government organ but also a pivotal driver of national economic growth and border security.

    “There are also challenges we face but we are working hard to overcome it and get a better result,” he said.

    According to him, the NCS plays a pivotal role in facilitating international trade and economic growth and equally serves as a bridge connecting the nation to the global marketplace.

    He expressed commitment to aligning with President Bola Tinubu’s agenda on economic growth and development.