Senate Recovers N120b, Summons Firms Over Revenue Scam

The Senate Joint Committee on Customs, Excise and Tariff and Marine Transport, has summoned more companies after it recovered N120 billion from companies involved in revenue scam. The committee on Friday directed Dana Group and 12 other companies, to appear before it on Monday to explain their involvement in N30 trillion revenue scam.

The Nigeria Customs Service Board has approached a Federal High Court sitting in Lagos, seeking an order for the forfeiture of various illegally imported goods valued at N50,151,606. The goods said to have been intercepted between April and June 2017. They include loads of fairly used clothes, shoes, bags, bed sheets, breakable plates; 7,163 bags of foreign parboiled rice, and 147 jerry cans of vegetable oil.

Dr Kenneth Gbeddy (left) and Dr Gideon Mshelbwala (right)

An official of Ministry of Agriculture and Rural Development says the country cannot export honey because it produces less than three per cent of its current needs. Dr Gideon Mshelbwala, a Director in the Department of Veterinary and Pest Control Services of the ministry, made the statement in Abuja on Friday on the occasion of the 2017 National Honey Bee Day.

The Federal Government has inaugurated a steering committee saddled with the responsibility of laying the foundation for the reform of Nigerian Postal Service. The committee was inaugurated by the Minister of Communication, Adebayo Shittu, who urged the National Assembly to expedite action on the NIPOST Reform Bill already before the Senate when the resume from recess.

The Nigerian Port Authority (NPA) reports that twenty-four ships, laden with Premium Motor Spirit, food items, and other goods, are berthing at Apapa and Tin-Can Island ports in Lagos.  The NPA made the disclosure in its publication titled 'Shipping Position', made available to NAN on Wednesday.

CBN Monitoring International Transactions On Naira Debit Cards

The Central Bank of Nigeria has disclosed that it is closely monitoring the use of naira-denominated cards for international transactions by bank customers.

FG To Revive 5 Fertiliser Plants

The Federal Government says it will revive five fertiliser blending plants by the end of August to complement the existing 11 under the Presidential Fertiliser Initiative (PFI). President, Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN), Mr Thomas Etuh stated this in Lagos on Wednesday during a facility tour of ENL terminal and Tak Logistics warehouses at Apapa and Tin Can Ports.

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh has raised alarm over the possible scarcity of beef and Dairy products in the country. The Minister who raised the concern at a meeting with members of the Governing Councils of the three Federal Universities of Agriculture Abeokuta, Makurdi and Umudike blamed the projection on the increasing consumption of beef and dairy lamenting that the corresponding production was low.

Host Communities Producing Oil and Gas in Nigeria (HOSCON), an umbrella body of oil producing communities in Nigeria has accused government of oil producing states of allegedly mismanaging the 13% derivatives allocated by the federal government, leaving the host communities impoverished and underdeveloped.

The naira has appreciated against the dollar at the parallel market, exchanging at N363 to the dollar, today as against the N364 posted on earlier in the week. The pound sterling and the Euro closed at N477 and N428 to the naira, respectively. At the Bureau De Change (BDC) window, the naira was traded at N363 to the dollar, while the pound sterling and the Euro closed at N477 and N428, respectively.