
Dangote Cement, Lafarge drag Industrial Index up by 2.84% to close the second week in green

FG yet to purchase Covid-19 vaccines – Minister of State for Health

Reps oppose school resumption date, ask for 3 months extension

Nigerian government spends equivalent of 83% of revenue to service debt in 2020

Crypto investors lose $530 million within a day

COVID-19 Update in Nigeria

Top 5 billionaires lost $8 billion in a day

Very few nations permitted to issue their Crypto – IMF

$128 million worth of Bitcoin exchange hands, Bitcoin drops to $36,100

FG receives N144 billion in dividends from NLNG in 2020
Business
Customs revenue rises by N200 billion to hit N1.5 trillion in 2020
The Nigeria Customs Service has disclosed it generated the sum of N1.5 trillion for the year 2020.

Published
2 weeks agoon

The Nigeria Customs Service (NCS) has announced that it generated a revenue of N1.5 trillion for the year 2020, a rise compared to N1.3 trillion in 2019.
This was disclosed in a statement by, Mr Joseph Attah, Customs Public Relations Officer, in Abuja on Wednesday.
Mr. Attah revealed that the revenue was over its target sum of N1,380,765,353,462.00 for the year, despite the COVID-19 pandemic.
READ: Nigeria’s foreign trade hits N8.4 trillion in Q3 2020, as import rises by 38%
The Customs spokesman, citing the Comptroller-General of Customs, retired Col. Hameed Ali, said the increased revenue was a result of the Service’s will to adapt in the face of challenges posed by a global pandemic.
“We also insist on strict enforcement of extant guidelines by the tariff and trade department and Automation of the Customs process, thereby eliminating vices associated with the manual process.
READ: Vitafoam shares gain 9.6%, as company reports N4.11 billion as profit in 2020
“Others are robust stakeholder sensitisation resulting in more informed and voluntary compliance as well as increased disposition of officers and men to put national interest above selves.
He also stated that the closure which has forced cargoes that could have been smuggled through the porous borders to come through the sea and airports raised revenue collection from ports.
READ: Export of our products in West African sub-region now less competitive – MAN
“Before the commencement of the border drill on 20th August 2019, revenue generation was between four billion to five billion naira, but now NCS generates between five billion to nine billion naira daily.
“Diplomatic engagements that took place during the partial land border closure yielded many positive results, including commitment to comply with the ECOWAS Protocol on Transit and operationalisation of joint border patrols at both sides of the border.
READ: Transaction volume for Direct debits jumps by 54% as more Nigerians adopt usage
“The teams are required to share intelligence and ensure prevention of transit of prohibited goods into the neighbor’s territory,” he added.
The Customs also disclosed that the introduction of the e-Customs service, including scanners and other technology at border posts would help increase trade and revenue of the agency.
What you should know: Nairametrics reported in 2020 that no less than N1.341 trillion was generated by the Nigeria Customs Service (NCS) as revenue for the year 2019, exceeding its target of N937 billion by N404 billion.
Business
Reps oppose school resumption date, ask for 3 months extension
The lower legislative chamber has flawed FG’s directive on public and private schools’ January 18, 2021 resumption date.

Published
7 hours agoon
January 17, 2021
The House of Representatives has moved against the Federal Government’s directive that schools should resume on Monday, January 18, despite the rising cases of the coronavirus disease.
The lower house, while expressing its concern, wondered why schools were closed when the infection rates were around 500 and below, but now that it hovers well above 1000 infections daily, schools are being reopened.
This disclosure is contained in a statement titled, “School Resumption: Are We Truly Prepared?” which was issued by the Chairman, House Committee on Basic Education and Services, Prof. Julius Ihonvbere, on Saturday, January 16, 2021.
Ihonvbere in his statement said that public enlightenment campaigns have more or less stopped, as merely saying that protocol would be adhered to is no guarantee with the situation even being worse in rural areas.
The house, therefore, demanded for the postponement of resumption of schools by 3 months, if some critical steps are not taken, so as to enable the local and state governments put things in place adequately.
He said that apart from Lagos and a couple of other states, governments have been unable to enforce Covid-19 protocols with people no longer wearing facemasks or use sanitisers, especially in secondary schools. There are no facilities for effective social distancing in the classrooms.
Ihonvbere said they have not heard how the schools would address the issues of introduction of morning and afternoon batches into the schools when they reopen to reduce overcrowding, special cleaning crews with sufficient sanitisers in classrooms, insisting on facemasks and sanitisers for the students and others.
What Prof. Ihonvbere is saying
The statement from the House partly reads,
- “The Committee on Basic Education and Services, House of Representatives, has received with concern the decision of the Federal Government to reopen schools on January 18, 2021.
- “We are particularly concerned that when the infection rates hovered around 500 and under, schools were closed; but now that it hovers well above 1,000 infections daily, schools are being reopened. Why are we rushing to reopen schools without adequate verifiable and sustainable arrangements to protect and secure our children?
- “Similarly, we acknowledge the argument that most young persons have not been as affected by Covid-19 and many are asymptomatic. Yet, it does not mean they have full immunity against the virus. We also know that they would be working and interacting with adult teachers, administrative workers and other persons that do not live within the institutions.
- ‘’People no longer wear facemasks or use sanitisers. Public enlightenment campaigns have more or less stopped. Merely saying they would adhere to the protocols is no guarantee. In rural areas, the situation is worse.
- “Our position is that in spite of the very comprehensive protocols established by the Federal Ministry of Education, not up to 10 per cent of our educational institutions have implemented five per cent of the protocols. In most of our primary and secondary schools nationwide, adequate furniture, water and other sanitation and hygiene facilities do not exist.
- “As a government that has committed to protecting the interests of the Nigerian people, it would be wrong to allow unprepared state governments, of which many did not take the pandemic too seriously anyway, to hoodwink or pressure it into this reopening game.
- “The Committee believes that if these and other critical steps are not taken, there should be a postponement by three months to enable the local and state governments put things in place adequately. A word, they say, is enough for the wise.’’
What you should know
- The Presidential Task Force (PTF) on Covid-19, a few days ago, insisted on the January 18 resumption date for schools until the Federal Ministry of Education advises otherwise.
- The clarification became necessary following the earlier comment by the Minister for Education, Adamu Adamu, that government may review the resumption date following the outbreak of the second wave of the coronavirus pandemic across the country.
HOUSE OF REPRESENTATIVES COMMITTEE ON BASIC EDUCATION AND SERVICES, ABUJA.
SCHOOL RESUMPTION: ARE WE TRULY PREPARED?The Committee on Basic Education and Services, House of Representatives has received with some concern the decision of the Federal Government to reopen schools pic.twitter.com/wehOd7QoXG
— Hon. Prof. Julius Ihonvbere,OON (@HonIhonvbere) January 16, 2021
Business
FG announces mandatory NIN enrolment for foreign diplomats
The Federal Government has directed foreign diplomats in the country to also partake in the mandatory NIN registration.

Published
9 hours agoon
January 17, 2021
The Federal Government on Sunday announced the mandatory National Identity Number (NIN) enrolment for foreign diplomats in the country.
While making the announcement, the government said that approval has been gotten for the establishment of enrolment centre at the Federal Ministry of Foreign Affairs by January 19, 2021.
According to a press statement which was signed by the Technical Adviser (Information Technology) to the Minister for Communications and Digital Economy, Dr Femi Adeluyi, the special centre will be managed by his ministry.
Adeluyi, in the statement, disclosed that the Communications Minister, Isa Pantami, said the centre is being set up based on the request of the Minister of Foreign Affairs, Mr Geoffrey Onyeama.
He said that the enrolment centre will provide support for members of the diplomatic corps and will be managed by the Federal Ministry of Communications and Digital Economy through the National Identity Management Commission (NIMC).
What the statement from the Ministry of Communications and Digital Economy is saying
The statement reads, ” The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, has approved the setting up of a National Identity Number (NIN) enrolment centre at the Federal Ministry of Foreign Affairs. The desk will be set up by Tuesday, 19th of January, 2021.
“This enrolment centre will provide support for members of the Diplomatic Corps and will be managed by the Federal Ministry of Communications and Digital Economy, through the National Identity Management Commission.
” The centre is being set up based on the request of the Honourable Minister of Foreign Affairs, Geoffrey Onyeama, in order to simplify the process for diplomats.
“The National Identity Number is mandatory for diplomats who will reside in Nigeria for a continuous period of two years or more. It is also mandatory for all other lawful residents in the country as stated in Section 16 of the National Identity Management Commission Act 2007.’’
The statement also says that the compliance for NIN enrolment has been low until recently despite the Law making it mandatory for Nigerians and legal residents since 2007.
What you should know
- It can be recalled that on December 15, 2020, the Federal Government had declared that after December 30, 2020, all SIMs that were not registered with valid NIN on the network of telecommunications companies would be blocked.
- However, following public outcry against the short notice, it later extended December 30, 2020, giving 3 weeks’ extension for subscribers with NIN from December 30, 2020, to January 19, 2021, and a 6-week extension for subscribers without NIN from December 30, 2020, to February 9, 2021.
- However, it yet to be seen if the deadline will be met with the large crowd that turn out every day at NIMC offices without being attended to
PRESS STATEMENT
NIN ENROLMENT FOR MEMBERS OF THE DIPLOMATIC CORPS#FMoCDE21#FMoCDEStatement#DigitalNigeria pic.twitter.com/DhKWNm3ao6
— Fed Ministry of Communications & Digital Economy (@FMoCDENigeria) January 17, 2021
Business
PayVIS: New Lagos State platform to use traffic cameras to fine traffic offenders
Lagos State’s Vehicle Inspection Service has launched a technology-based initiative to track, monitor and book traffic offenders.

Published
10 hours agoon
January 17, 2021
The Lagos State Government has launched PayVIS, a number plate detection platform that captures vehicle offenders when they violate traffic laws and then bills them.
PayVIS is an initiative of the Lagos State Vehicle Inspection Service.
According to the information contained in the website of PayVis,
- “PlateDetect is a Traffic analytics and access control application developed for Lagos State’s Vehicle Inspection Service to track, monitor, and book traffic offenders.”
- “LASG VIS’s PlateDetect ensures that all vehicle documentation (vehicle license, Insurance policy, Roadworthiness certificate, Driver’s license, Hackney permit (Commercial vehicles only), Lagos State Drivers’ Institute card (Commercial vehicles) can be verified and tickets raised for violators.”
How it works
- From an advert seen by Nairametrics, traffic cameras located beside traffic lights will capture traffic offenders without the presence of traffic officials.
- The camera takes a photo shot of the vehicle’s plate number, and runs a scan of the vehicle’s records in the state’s database.
- To detect whether you may have had a prior traffic offense, vehicle owners are to visit their website, type in their plate number and then click on search.
- Once this is done, a bill is generated for any outstanding offense.
On its Facebook page, the Vehicle Inspection Service said that it will be showing an understanding of the current economic situation to exhibit fairness and good faith by offering a 50% rebate on existing unpaid fines from January 1 to 31st January 2021.
Offenders are advised to take opportunity of the period to pay up, as 100% penalty would be payable after the deadline.
Watch the advert below:
-
Get the scoops and market intelligence that can help
you make better investment decisions right in your
mailbox.