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Nigeria Customs Grapples With Exchange Rate Volatility Amid CBN’s Frequent Duty Rate Adjustments
Nigeria Customs Grapples With Exchange Rate Volatility Amid CBN’s Frequent Duty Rate Adjustments....KINDLY READ THE FULL STORY HERE▶
The Nigeria Customs Service (NCS) has expressed deep concerns over the adverse impact of frequent adjustments in customs import duty rates by the Central Bank of Nigeria (CBN), citing significant disruptions to transaction volumes in the first quarter of 2024…….READ ALSO
During a briefing in Abuja, the Comptroller General of the NCS, Bashir Adewale Adeniyi, highlighted the challenges faced by the Service, resulting in a notable decrease of 4.89% in transaction volumes handled during the quarter.
Adeniyi underscored the substantial fluctuations in exchange rates utilized in customs clearance, revealing that the CBN directed 28 rates within three months, 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.
The CGC emphasized the implications of these volatile rates on stakeholder activities, stressing the need for regular consultations with the CBN to mitigate the adverse effects on import operations.
Despite these challenges, Adeniyi reported an impressive revenue collection of N1.34 trillion in the first quarter of 2024, marking a significant growth of 122.35% compared to the corresponding period of the previous year.
The CGC further outlined the month-by-month revenue performance, highlighting the NCS’s substantial contribution toward achieving the Federal government’s annual revenue target of NGN 5.07 trillion for 2024.
As the NCS navigates the complexities of exchange rate volatility and duty rate adjustments, Adeniyi reaffirmed the Service’s commitment to optimizing revenue collection while ensuring operational efficiency and stakeholder satisfaction.
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Labour Party Shocker: Governance Expert Dr. Chibuzo Okereke Unveiled As 2027 Presidential Flagbearer!.
The Labour Party has officially named Dr. Chibuzo Okereke as its presidential flagbearer for the 2027 general elections. According to National Publicity Secretary Ken Asogwa, Dr. Okereke was selected through a consensus reached by party members, stakeholders, and fellow aspirants, and his candidacy was formally affirmed in Abuja on May 30, 2026.....KINDLY READ THE FULL STORY HERE▶
Dr. Okereke is widely recognized as a prominent expert in public policy, legislative governance, and institutional reform. His professional background includes:
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Leadership: He serves as President of the ERGAF-AFRICA Legislative Governance Innovation and Policy Hub, a leading research institution in the field.
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Consultancy: He acts as a legislative consultant to prominent National Assembly members and key committees.
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Academia: As a Resident Lecturer at Miva Open University in Abuja’s Department of Public Policy and Administration, he focuses on training future public sector leaders.
With a PhD in Legislative Governance Studies and a master’s degree in Public Administration and Legislative Studies—both earned with distinction—Dr. Okereke is a frequent commentator on national and global media platforms regarding governance, accountability, and national development. The Labour Party believes his dedication to democratic reform, education, and youth empowerment positions him as the transformational and accountable leader Nigeria needs to navigate its current challenges.
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Premier League Raid: Lookman On The Brink Of Atlético Madrid Exit As English Giants Circle.
Just months after his high-profile winter arrival from Atalanta, Nigeria international Ademola Lookman could be set for an early exit from Atlético Madrid. Spanish and Turkish reports, as cited by Fotospor, suggest the La Liga club may be willing to entertain offers in the region of €60 million for the 28-year-old this summer.....KINDLY READ THE FULL STORY HERE▶
Lookman joined Diego Simeone’s squad in February for approximately €35 million, signing a contract through 2030. Despite contributing goals across La Liga, the Copa del Rey, and the UEFA Champions League, he has reportedly struggled to adapt to Simeone’s rigorous tactical requirements. Consequently, the manager has reportedly sanctioned the club’s plan to listen to offers as part of a strategic squad overhaul.
This development has immediately caught the attention of several top European clubs. In the Premier League, Arsenal—where Mikel Arteta is reportedly a fan of the Nigerian’s versatility—has been linked to the forward, alongside Liverpool and Manchester United, who are both looking to bolster their attacking options.
Beyond England, interest remains high:
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Fenerbahçe is expected to revive their pursuit after narrowly missing out on him in January.
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Paris Saint-Germain has been identified as a potential suitor for the forward.
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Inter Milan and Juventus are also monitoring the situation, though Atlético’s €60 million valuation and Lookman’s reported €6 million net annual salary could prove prohibitive for Italian clubs.
Lookman’s reputation remains strong following a prolific stint at Atalanta, where he netted 55 goals—including a historic hat-trick in the Europa League final—and previous experience in English football with Charlton, Everton, Fulham, and Leicester City. As the summer transfer window nears, Lookman’s future is poised to be one of the most closely watched stories in European football.
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“Forever In My Heart”: Super Eagles Star Samuel Chukwueze Bids Heart-Wrenching Final Farewell To Late Mother In Abia.
Super Eagles winger Samuel Chukwueze laid his mother, Mrs. Serah Chinyere Chukwueze, to rest this past Friday in Umuahia, Abia State. The funeral was a deeply moving event that drew football stars, government dignitaries, and mourners from all over the South-East to pay their final respects.....KINDLY READ THE FULL STORY HERE▶
Mrs. Chukwueze passed away on January 29 following a brief illness, during a time when the 27-year-old winger was on loan with Fulham. Due to his professional responsibilities in England, he could not return home immediately. In accordance with South-East traditions, which prioritize detailed planning for a matriarch’s funeral, the family scheduled the ceremony to coincide with the end of the football season to ensure a proper and fitting tribute.
The ceremony was attended by several notable figures, including a delegation from the Nigeria Football Federation led by Ibrahim Gusau, as well as Chukwueze’s international teammates, Kelechi Iheanacho and Chidozie Awaziem. Dressed in traditional white attire, an emotional Chukwueze spent time in quiet reflection before his mother’s interment, though he appeared more composed during the subsequent reception.
With the funeral rites completed, discussions surrounding Chukwueze’s professional future are expected to resume. His loan tenure at Fulham concluded at the end of the season, during which he tallied four assists and three goals across 23 Premier League matches. While the winger reportedly prefers to remain in London, Fulham is not expected to pursue a permanent transfer, and with his parent club, AC Milan, reportedly open to offers, the Nigerian international’s next destination remains uncertain as the summer transfer window approaches.
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