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Business News

Kyari Bukar bows out as chairman of Nigerian Economic Summit Group

Mr. Kyari Abba Bukar, the executive chairman of the board of directors of the Nigerian Economic Summit Group (NESG) has quit his position

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Bukar Kyari

Mr. Kyari Abba Bukar, the Executive Chairman of the board of directors of the Nigerian Economic Summit Group (NESG) has quit his position.

A press statement made available yesterday (September 17th) revealed that the resignation is because of Mr Kyari’s aspiration to contest an elective post during the forthcoming general election in 2019. The resignation took effect immediately.

In the meantime, Mr Asue A. Ighodalo has assumed office as the Acting Chairman of Board, the statement said. He was the first vice chairman of the board.

Meanwhile, Mr Bukar had earlier stated that it was “an enormous privilege” for him to have served in his capacity as Executive Chairman.

“I am proud to have worked with remarkable colleagues who are so committed to advancing the mandate of the NESG.” -Bukar

The Board and Management of the NESG also expressed their appreciation to the ex-chairman. According to them, they remain grateful for his dedication and selfless deeds toward the advancement of the group. They wished him the very best in his future endeavours.

Mr Kyari is a graduate Ahmadu Bello University, Zaria where he obtained a degree in Physics. He joined the Nigerian Economic Summit Group (NESG) in 2009 and ultimately became the Executive Chairman in 2015.

He has also served as the MD/CEO of the Central Securities Clearing System Limited (CSCS).

About Asue A. Ighodalo

Asue A. Ighodalo is a prominent figure in the world of business, having held major positions in different companies. He is a trained lawyer and an economist. He is also the founder of Banwo & Ighodalo (a Nigerian based law firm), the Chairman of Sterling Bank Plc and Dangote Flour Mills Plc.

He is currently a Director at Fate foundation, Member of The Association of International Petroleum Negotiators, Member of International Bar Association, Member of Chartered Institute of Taxation of Nigeria, Member of Institute of Directors and Member-Advancement Board at the University of Ibadan and on the board of 7 other companies.

The Nigerian Economic Summit was birthed in 1993, it was however established and incorporated as a non-profit, non-partisan private sector organization in 1996.

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Spotlight Stories

Tip Jar, Twitter’s new giveaway feature that lets users send money to you

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

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US Elections: Twitter, Facebook suspend several news accounts

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

According to the blog post, “Tip Jar is an easy way to support the incredible voices that make up the conversation on Twitter. This is a first step in our work to create new ways for people to receive and show support on Twitter – with money.”

The new feature utilizes different payment platforms like PayPal, Venmo, Patreon, CashApp, and others.

Users can link their Twitter accounts with Tip Jar to any of these payment providers. Twitter takes no cut.

READ: Facebook is creating an audio chat product similar to Clubhouse

You’ll know an account’s Tip Jar is enabled if you see a Tip Jar icon next to the Follow button on their profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled. Select whichever payment service or platform you prefer and you’ll be taken off Twitter to the selected app where you can show your support in the amount you choose.

Twitter has released series of features this year as part of its efforts to grow Twitter’s user base to 315 million daily active users by the end of 2023.

The company also launched Twitter crop where images don’t get crop again on Twitter for Android or iOS. Standard aspect ratio images (16:9 and 4:3) will now display in full without any cropping and images will look just like they did when you shot them.

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READ: Does YouTube stand a chance against TikTok?

Lauren Alexander, a Twitter spokesperson said, “Today’s launch is a direct result of the feedback people shared with us last year that the way our algorithm cropped images wasn’t equitable, The new way of presenting images decreases the platform’s reliance on automatic, machine learning-based image cropping.”

Twitter has tested several features and more will be rolled out soon.

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Business

Customs Apapa Command generates revenue of N65.4 billion in April

This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

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Border closure: Amid N5bn daily revenue, Customs officials lament allowance slash  

The Nigerian Customs Service (NCS) Apapa Area Command has announced a revenue of N65,463,398,355.85 for the month of April—an increase of N25,585,561,139.92 compared to the same period last year.

This was disclosed by Comptroller Ibrahim Yusuf, Area Controller of Apapa command, in a press briefing on Thursday.

What Ibrahim Yusuf is saying

“This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

In line with the provision of extant laws, trade guidelines, and enforcement of government fiscal policy measures, the command was able to further strengthen its anti-smuggling operations against economic saboteurs through credible intelligence-driven operations.

READ: Customs revenue rises by N200 billion to hit N1.5 trillion in 2020

This led to the seizure of 4×40 feet containers laden with unregistered pharmaceuticals (674 cartons of tramadol tablets in 225mg and 120mg, and 805 cartons of codeine syrup in 100ml) at APMT and SIFAX 3 bonded terminal respectively.

Other items seized in the period under review include: two containers of unprocessed wood and one container of scrap copper wire,” he said.

He added that the progress the Apapa Command made in the month of April was possible due to the resilience of the officers, citing that the Command had taken steps to ensure efficient revenue collection by creating an enabling environment for legitimate businesses to thrive.

What you should know

Recall Nairametrics reported that the Nigeria Customs Service (NCS) Apapa Command stated earlier that it generated a revenue of N159.58 billion in the first quarter of 2021.

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