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CBN Policy Hurting Customs Revenue – NCS

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CBN

The Nigeria Customs Service (NCS) will consult with the Central Bank of Nigeria (CBN) over the possible review of the bank’s monetary policy on foreign exchange which has been affecting customs revenue generation

The Customs Service Public Relations Officer, Mr Wale Adeniyi, said this in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja.

“What customs is doing is to start engagement from the government agency to government agency; so we are going to be talking to CBN first to see what can be done in terms of review of policy.

“We all understand the objective of the policy but we don’t want a policy that will achieve one objective on one side and create some disruption and problem on the other.

“The objective of our consultation with CBN will be to see how we can fine-tune the policy to take care of the negative impact it is creating for our (customs) revenue without necessarily negating the objective of the policy itself.“So we will start with that and we hope we will get some positive outcome, mutually beneficial solution to the issue.

“It is only if we don’t get beneficial solution that we hope to take the matter to higher authorities,” Adeniyi said.

The Comptroller-General of Customs, retired Col. Hameed Ali, had said that the shortfall of N240 billion in customs revenue target was due to CBN monetary policy which banned 41 items on the Forex.

“If you remember CBN policy on 41 items; when we did our analysis, the policy has denied us money to the tune of N240 billion.

“So if we add that to what we have generated, it would have surpassed what we have.

“So that is the downside of why we were not able to meet the target in 2015; but hopefully with all the tools we put in place and I hope that government will once again look at those policies and see how they can be fine-tuned,” Ali said.

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#LekkiMassacre: Hoodlums Storm TVC Station In Lagos; Set Properties On Fire (Video)

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#LekkiMassacre: Hoodlums Storm TVC Station In Lagos; Set Properties On Fire (Video)
Properties in the conpound on fire

Properties in the compound on fire

Hoodlums have reportedly invaded the headquarters of popular news station, TVC, believed to be owned by National Leader of APC, Bola Tinubu.

According to reports, the staff of the news station are being trapped in the building located in Lagos.

Videos circulating online shows that properties in the compound have also been set ablaze.

The news station is currently off air and this comes hours after Nigerians accused the Lagos politician of having a hand in the #LekkiMassacre.

Information Nigeria recalls security agents had opened fire at peaceful #EndSARS protesters at Lekki Tollgate on Tuesday.

In a video circulating online, the anchors of one of the shows, ‘Your View’ were heard saying that there were hoodlums at their gate trying to break into the premises.

Read Also: #EndSARS: Nigerian Army Denies Shooting At Protesters In Lekki

Watch the video clips below:

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Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun

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Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun
Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun

#EndSARS protesters in Osun

The Governor of Osun State, Gboyega Oyetola on Saturday, escaped an attack by thugs which happened while he was addressing #EndSARS protesters in Osogbo, the state capital.

Some of the vehicles in the Governor’s convoy were also destroyed by the thugs but the Governor himself was evacuated to safety by his security team.

Also Read: #EndSARS: Hold Enugu State Govt Responsible If Anything Happens To Us – Phyno, Kcee, Zoro

As the convoy was leaving the protest venue, some of the youths continued to stone his vehicles.

While the protest was disrupted, Governor Oyetola assured the injured victims that the government would be responsible for their medical bills.

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#EndSARS: Sanwo-Olu Constitutes Panel Of Enquiry

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Sanwo-Olu Imposes 24-Hour Curfew In Lagos
#EndSARS: Sanwo-Olu Forms Panel Of Enquiry

Babajide Sanwo-Olu

In a bid to quell the #EndSARS protest which is spreading like a raging inferno across the country, Babajide Sanwo-Olu, the Governor of Lagos State has set up a panel of inquiry and restitution for victims of SARS.

This was announced in a statewide broadcast on Thursday.

The panel will be a 7-man panel which will ensure that all those with verifiable cases of SARS brutality or fatality receive compensation.

Also Read: BREAKING: EndSARS: Gov Sanwo-Olu reveals identities of policemen who harassed protesters

The Panel will be chaired by retired Justice Doris Okuwobi, while members are Ebun Adegboruwa, SAN (representing the Civil Society), Taiwo Lakanu (a retired Deputy Inspector General of Police), Patience Udoh (representing the Civil Society); Segun Awosanya aka Segalink (Human Rights Activist).

Others are Olutoyin Odusanya (Director, Citizens Mediation Center), a rep/member of the youth-led protest, and a representative of the Human Rights Commission.

There will be a help desk for the complaints and petitions to the panel.

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