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Customs posts ₦1.3trn1, revenue in Q1’24, says 28 CBN-approved FX duty rates disruptiv

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A total of 1.3 trillion naira worth of revenue has been generated by the Nigeria Customs Service in the first quarter of 2024.

 

Speaking during a press briefing on Wednesday, the Comptroller General of Customs, Adewale Adeniyi, explained that over 572 seizures were made with a duty-paid value of N10bn.

 

He said, “In the first quarter of 2024, the NCS demonstrated remarkable performance in revenue collection. Total revenue collected during this period amounted to NGN 1,347,675,608,972.75. The collection for the first quarter represents a substantial increase of 122.35% compared to the same period last year, where NGN 606,119,935,146.67.

 

“When compared to the Federal government’s annual revenue target of NGN 5.07 trillion for the NCS to collect in 2024, the target translates to a monthly revenue target of NGN 423 billion.”

 

Adeniyi also a total of N1.6 billion was generated through its electronic auction platform launched in the first quarter of the year.

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The Customs boss, however, said that the Service encountered major challenge in the fluctuations of the exchange rate regime which he said has disrupted its activities.

 

He said, “In the last quarter, a total of 28 rates were directed by the CBN, ranging from NGN 951.94 per USD 1 in January 2024 to a peak of NGN 1,662.35 per USD 1 in February 2024. While a singular exchange rate of NGN951.94 per USD 1 was maintained in January, February witnessed 15 different spot rates ranging from NGN 951.94 per USD 1 to NGN 1,662.35 per USD 1.

 

“March saw a total of 13 different spot rates applied, ranging from NGN 1,303.84 to NGN 1,630.16. These fluctuations resulted in an average applied exchange rate of NGN 1,314.03 per USD 1 in the clearance of Customs goods during the quarter.

 

“The repercussions of these fluctuating rates have sent concerning signals to our stakeholders, affecting and disrupting activities.”

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Adeniyi, however, expressed delight in the relative stability in the past days, adding that the Service, with the support of the Minister of Finance, Wale Edun, has initiated periodic consultations with the apex bank to mitigate the potential impact of exchange rate fluctuations on import activities.”

 

 

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Troops kill ISWAP commanders, two Arab fighters in Borno

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The gallant troops of the Nigerian Army have killed Abu Hajara, a high-profile member of the Islamic State West Africa Province (ISWAP) Shura Council, and Abul Walid, a prominent commander and close associate of Ba Shuwa, the group’s overall Wali (leader).

In astatement issued on Sunday, the acting media information officer of Operation Hadin Kai, Mohammed Goni, said that two other high-ranking Arab fighters were also killed during the engagement in Kukawa LGA of Borno state on October 31.

Goni said the attack came three days after troops killed 55 terrorists, including three key commanders.

“Combined troops of Joint Task Force deployed in Kukawa defeated massive ISWAP terrorists attack on their locations and troops utilised both ground and air assets from the air component,” the statement reads.

“Following the engagement, troops recovered scores of arms, ammunition and communication devices.

“The successful engagement further demonstrates the combat readiness, vigilance and superior firepower of Operation HADIN KAI troops in sustaining pressure on terrorist elements across the theatre.

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“The attack on troops location at Kukawa comes barely 3 days after Buni Yadi attack where as at date 55 terrorists were neutralised including key commanders such as Ali Mandara Abba Gajiri (Munzir), Habu Ikkima Nakif Yana Faruk and Commander Gogore.”

Goni described the killing of the ISWAP fighters as a “significant blow to the leadership and operational capability” of the group.

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Jailed Osun monarch drags Adeleke to court over plan to replace him

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Dethroned Oba Joseph Oloyede, Apetumodu of Ipetumodu in Osun State, who is presently serving jail time in the United States of America for offences bordering on fraud, has dragged the Osun State Governor, Ademola Adeleke, before the court, asking it to stop him from filling the stool.

Oloyede, who is the second claimant in suit no. HIF/50/2026, in his motion on notice filed before an Osun State High Court sitting in Ile-Ife, alleged that Adeleke did not formally inform him of any infraction he committed before embarking on the process to replace him.

He is seeking an order of the court stopping the governor or any of his officials from filling the stool of Apetumodu until the substantive suit was determined.

Other claimants in the matter include Prince Oyewusi Adewusi, Prince Isaac Adewuni, and Prince Abiodun Oyetoro, for themselves and on behalf of other members of the Latimogun Royal Family of the Aribile Ruling House of Ipetumodu.

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Aside from Adeleke, other defendants in the matter are the Osun State Attorney-General and Commissioner for Justice, the Commissioner for Local Government and Chieftaincy Affairs, Chief Afolabi Adedeji, the Asalu of Ipetumodu and the head of the kingmakers, Chief Adesoye Babalola, the Malefon of Ipetumodu, and the Ife North Local Government.

The motion on notice filed by Oloyede, dated September 16, 2026, partly read, “An order of interlocutory injunction restraining the defendants/respondents either by themselves or through their servants, agents or privies from taking any step to fill the stool of the Apetu (Apetumodu) of Ipetumodu or appoint any person in place of the 2nd claimant who is the occupant of the Apetu’s stool, pending the hearing and final determination of this suit.

“That in The Guardian Newspaper of May 11, 2026 (online edition), it was alleged that the 2nd claimant/applicant has, by order/instrument purportedly signed by the 1st defendant on May 7, 2026, been deposed from office as the Apetumodu of Ipetumodu without any lawful basis.

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“That there was no time the 2nd claimant/applicant was informed by the 1st-3rd defendants of any wrongdoing before the issuance of the publication contained in the said Guardian Newspaper and the purported instrument or order of deposition.”

The hearing in the matter was, however, stalled on Monday, following non-service of hearing notices on the parties in the case.

During the day’s proceedings, only the claimants’ counsel, O. Ogbewe, and counsel for the 5th defendant, Soji Oyetayo, entered appearances.

Addressing the court, Ogbewe said he had served the defendants with the processes regarding the case.

But Oyetayo, counsel for the 5th respondent, Adesoye Babalola, said hearing notice had not been served on him by the claimants.

Oyetayo subsequently urged the court to adjourn the matter for the claimants to serve all the defendants’ hearing notices.

In his ruling, Justice Dapo Adeniji adjourned the case to January 21, 2027, and ordered that fresh hearing notices be issued and served on the defendants.

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It would be recalled that Adeleke approved the deposition of Oba Oloyede as the Apetumodu of Ipetumodu, following his conviction in the US on tax fraud and money laundering charges.

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Two Oyo commissioner, special adviser resign

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Two senior officials in the Oyo State Ministry of Budget and Economic Planning have resigned their appointments from Governor Seyi Makinde’s administration.

The officials are Ayobami Ojo, the Commissioner for Budget and Economic Planning, and Simeon Oyeleke, the ministry’s Special Adviser on Budget and Economic Planning.

In separate letters dated November 2, and addressed to Mr Makinde, both officials said their resignations would take effect immediately, while thanking the governor for the opportunity to serve but did not give specific reasons for their decisions.

In his letter, Ojo referred to his appointment letter dated 22 June 2026 and formally announced his resignation as commissioner.

“With reference to your letter dated 22nd June, 2026 (SP.S.662/2/VOL.IV/192), I respectfully write to formally resign my appointment as Honourable Commissioner for Budget and Economic Planning, with effect from today, 2nd November, 2026,” he wrote.

He described his time in government as an honour and said he appreciated the opportunity to serve the state.

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Oyeleke also tendered his resignation with effect from 2 November.

In his letter, he thanked Mr Makinde for the confidence reposed in him and the opportunity to contribute to the administration’s policies and development programmes.

He also expressed appreciation for the governor’s leadership, support and encouragement during his time in office.

“I remain grateful for the opportunity to have been part of this administration and to have contributed to its laudable achievements. I also remain committed to the peace, progress and development of Oyo State,” he wrote.

The latest resignations come amid a series of exits of political appointees and other officials from the Makinde administration in recent months.

It would be recalled that Segun Ogunwuyi resigned as the governor’s chief of staff on 12 October, a position he had held since July 2021. His resignation took immediate effect, although he did not state a reason for his departure.

A few hours after Ogunwuyi’s departure, Makinde appointed Bashorun Akinwole, popularly known as Wolekanle, as his replacement.

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On the same day, Tara Adefope, the Director-General of the Oyo State Due Process Office, also resigned from her position, while in late October, Kabiru Salami, the governor’s Executive Assistant on Security Coordination, also tendered his resignation.

Other officials who have left the administration include Funmi Arulogun, a Senior Special Assistant on Diaspora Matters, who resigned in August, citing personal and political considerations.

Babatunde Oduyoye, a member of the Oyo State Advisory Council, also resigned in July, while Fatai Owoseni, a former Commissioner of Police who served as the governor’s Special Adviser on Security resigned in May.

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