Why did Customs not reach the revenue target for 2022? General Controller - THE HARMATTAN NEWS (2023)

Nigerian Customs Service (NCS) Controller General Hameed Ali (rtd) announced that the service missed its revenue collection target for 2022.

He made the remarks in Abuja on Thursday while answering questions from reporters at a briefing at the end of a three-day global conference hosted by the World Customs Organization (WCO).

Ali said the service set a target of three trillion one hundred billion naira (N3,100,000,000,000), but managed to reach two trillion six hundred billion (N2,600,000,000,000) with a shortfall of more than four hundred billion naira (N400). ,000,000,000). ) .

He said factors such as unforeseen government stock market events and tax policies such as exemptions and concessions had led to a shortfall in revenue collection.

The Comptroller General said: "The non-implementation of the rates for carbonated drinks and telecommunications rates, among other things, compromised the fulfillment of the service goal by 2022."

He said the service is “hopeful that 2023 will be better if all these factors are implemented.

Speaking on the theme of the conference, "Enabling Customs in Fragile and Conflict Affected Situations," Ali said he was concerned about security challenges in border areas.

He said that in addition to the efforts being made to fully equip its staff for the job, the service has not rested on its oars in building their ability to perform effectively.

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The Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, announced that accreditation numbers and results will now be broadcast simultaneously on election day.

Speaking to reporters after monitoring fake credentials at some polling stations in Abuja on Saturday, Yakubu said such a simulcast would ensure correlation of numbers.

He said that although the commission did not comment on the court's decision on the Osun governor's choice because it amounted to submission, it had learned some lessons.

"But in all situations, the commission learns, takes the experience of what happened to improve the processes for the next elections," said the INEC president.

“We learned some lessons from what happened, and one of the lessons is being able to submit accreditation data.”

He said INEC has created a new Uniform Resource Locator (URL) on its results viewing portal where the accreditation number and results can be displayed.

"We will broadcast the accreditation numbers and the results on election day," he said.

"We assure Nigerians that on Election Day, both the authoritative data and the actual votes will be transmitted simultaneously and accurately."

"We have also taken contingency precautions, as we will on Election Day, so that in the unlikely event of a malfunction, we can respond and repair the machines."

Rotimi Oyekanmi, spokeswoman for the INEC president, said this is the first time the commission has started to transmit accreditation data.

“We will upload the results sheet as before, and then we will also upload the accreditation data for each voting unit so that people can compare the number of people accredited to the number of votes cast,” he said.

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Nigerian dollar-denominated government bonds fell on Friday ahead of a review by S&P Global of their credit ratings.

The drop follows a downgrade by another ratings agency, Moody's, last week.

Reuters reported that Nigerian bonds fell as low as 2,659 cents, according to Tradeweb data, with the 2038 maturity falling further to 69,189 cents.

He said bonds have fallen for two straight days, attributed to a combination of global risk aversion and a Moody's downgrade, with the 2038 due price falling to 68.528 pence. It then rose to 73.375 cents before falling on Friday.

Last week, Moody's downgraded Nigeria's rating to Caa1 from B3, saying the government's debt and fiscal positions are likely to continue to deteriorate. In addition, nine Nigerian banks were downgraded.

Responding to Moody's action, Finance, Budget and National Planning Minister Zainab Ahmed said it came as a surprise, but said the government was already addressing the agency's concerns.

"Moody's downgrade was a surprise to us because it shows all the work we have done to stabilize the economy.

“But these are external rating agencies that don't know exactly what's going on in our home environment,” Ahmed said.

He expressed optimism that the expected S&P rating for today (Friday) will turn more positive.

(Reuters)

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President Muhammadu Buhari awarded the title of Ambassadors on the ground to 115 foreign officials for their contributions to the country's development and economy.

Geoffrey Onyeama, Secretary of State, on behalf of the President, presented the certificates of appreciation to serving officers who achieved the rank of Deputy Director on Friday.

Onyeama said Buhari recognizes and honors Foreign Service officers for their sacrifices, hard work and role in attracting foreign investment for the growth of the country's economy.

He said that with his efforts to strengthen Nigeria's foreign policy and diplomacy, Nigeria has excellent relations and peace with all countries in the world.

“It is a recognition of the work done and achieved. Some of today's honorees are in the service of foreign civil servants, others are retired.

“So, Mr. The President decided to recognize all those who have achieved a certain level of service, despite being retired, and also award them the title of ambassador on the ground.

“The sacrifice that is required of you to serve very often for relatively short periods of time in different countries of the world. And then you come back for three years and then you leave again.

“In addition, I am very grateful for the investments in the business sector that they helped bring to the country.

“The role it plays in the consular service, looking out for the interests of individual Nigerians around the world.

"And I always tell people that one aspect of our foreign policy and diplomacy that a lot of people take for granted and don't appreciate enough is the fact that we have great relations with every country on the planet," Onyeama said.

The newly appointed Ambassadors thanked Mr. Chairman for the recognition which they believe will encourage them to do more to project the good image of Nigeria.

The Lord. Kabiru Musa, current charge d'affaires of the Nigerian Embassy in Libya, said that cooperation with host countries will be deepened and cooperation with Nigeria will be facilitated, particularly in the areas of security and economic development.

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