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Port Harcourt II Customs Command Surpasses 2025 Revenue Target, Records ₦731.2bn Collection

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Port Harcourt II Customs Command Surpasses 2025 Revenue Target, Records ₦731.2bn Collection

The Nigeria Customs Service, NCS, Port Harcourt II Area Command, has exceeded its 2025 revenue target, recording a total collection of ₦731.2 billion against the approved target of ₦700.01 billion.

The figure represents a 4.46 percent performance and underscores the Command’s growing contribution to national revenue and economic stability.

The revenue target for 2025 was set based on the Command’s impressive performance in 2024, which it also surpassed. The latest achievement has been attributed to effective leadership, operational discipline, and the deployment of technology-driven customs processes.

Speaking on the performance, the Area Controller, Comptroller Aliyu M. Alkali, attributed the success to the effective implementation of the Comptroller-General of Customs’ policy thrust and the adoption of the indigenously developed Unified Customs Management System, B’ODOGWU, which has enhanced cargo clearance efficiency and transparency.

Comptroller Alkali said the Command ensured strict adherence to standard operating procedures, strengthened officers’ discipline, and sustained continuous engagement with key stakeholders to improve compliance and trade facilitation.

While acknowledging the role of leadership, the Area Controller expressed appreciation to the management of the Nigeria Customs Service under the Comptroller-General of Customs, Bashir Adewale Adeniyi, MFR, for providing an enabling environment that supported the Command’s performance.

He also commended the cooperation of stakeholders, noting that synergy with port users and government agencies contributed significantly to the achievement.

The Comptroller further praised officers and men of the Command for their dedication, professionalism, and patriotism, which he said were evident in both revenue generation and enforcement outcomes.

According to him, the Command intercepted a total of 75 containers with a cumulative Duty Paid Value (DPV) of ₦47.6 billion. Of these, 30 containers were found to contain expired, illicit, and unregistered pharmaceutical products, while others contravened various provisions of the Customs and Excise laws.

He stressed that the seizures were intended to serve as a deterrent to smugglers and other violators, reaffirming the Command’s zero-tolerance stance on illegality.

Comptroller Alkali urged importers and licensed customs agents to make honest declarations, assuring them of the Command’s continued commitment to facilitating legitimate trade while enforcing regulations with the highest standards of integrity and professionalism.

FirstBank Meets ₦500bn Capital Requirement as FirstHoldCo Signals Fresh Investments in 2026

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FirstBank Meets ₦500bn Capital Requirement as FirstHoldCo Signals Fresh Investments in 2026

First HoldCo Plc has announced that its flagship commercial banking subsidiary, First Bank of Nigeria Limited has successfully met the Central Bank of Nigeria’s, CBN minimum regulatory capital requirement of ₦500 billion, well ahead of the stipulated deadline.

The Group said the milestone was achieved through a combination of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of its merchant banking subsidiary.

The successful recapitalisation places FirstBank among leading Nigerian banks that have complied with the CBN’s directive on capital strengthening.

In March 2024, the apex bank mandated commercial banks to raise their minimum capital base to ₦500 billion within a 24-month period as part of efforts to strengthen the stability, resilience, and capacity of the Nigerian banking sector.

FirstBank’s early compliance, according to FirstHoldCo, reflects strong investor confidence in the Group’s business model, long-term strategy, and growth prospects.

With an enhanced capital base, FirstBank is expected to scale up support for the real sector of the economy, deepen financial inclusion, and expand its delivery of innovative, digitally driven banking services.

The recapitalisation also strengthens the Group’s overall financial position, providing a solid platform for business expansion, earnings growth, and technological innovation.

In a related development, FirstHoldCo disclosed plans to raise additional funding in 2026, with the intention of injecting fresh capital into other subsidiaries within the Group as well as exploring new business adjacencies.

The move is aimed at further strengthening service delivery and supporting strategic growth across its operations.

Commenting on the achievement, Chairman of First HoldCo Plc, Mr. Femi Otedola, CON, expressed appreciation to shareholders for their support throughout the capitalisation process.

“From the oversubscribed Rights Issue to the seamless Private Placement, our investors have demonstrated strong confidence in our strategic direction.

Securing FirstBank’s capital base ahead of schedule is a testament to our collective commitment and positions the Group for its next phase of growth,” Otedola said, while also acknowledging the guidance of the CBN and the Securities and Exchange Commission during the exercise.

Also speaking, the Group Managing Director of First HoldCo Plc, Mr. Wale Oyedeji, described the successful capital raise as a pivotal milestone for the Group.

According to him, the strengthened capital base provides the financial capacity to drive innovation, enhance customer value, and deliver sustainable profitability.

He added that the Group is focused on accelerating performance, improving competitive returns, and creating long-term value for all stakeholders.

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SIFAX Group Unveils Innovation-Driven Growth Strategy for 2026

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SIFAX Group Unveils Innovation-Driven Growth Strategy for 2026

SIFAX Group has kicked off the 2026 business year with the unveiling of an innovation-driven growth plan targeted at strengthening operations, deepening technology adoption and expanding its footprint across West Africa.

The Chairman of the Group, Dr. Taiwo Afolabi, stated this in his New Year message to employees, partners and stakeholders, where he outlined the company’s strategic priorities for the year while reflecting on its performance in 2025.

According to Afolabi, the Group’s 2026 agenda is anchored on the theme, “Growth through Innovation,” with a strong focus on operational excellence, cross-subsidiary collaboration, sustainability and customer-centric service delivery.

He noted that SIFAX Group is deliberately positioning itself to respond proactively to industry changes and emerging opportunities across its diverse business portfolio.

He explained that key priorities for the year include advancing technological integration across logistics and maritime operations, expanding the use of cleaner and more sustainable energy solutions, and deepening the Group’s presence within the West African sub-region, particularly through its financial services businesses.

“Our mission remains to become Africa’s global conglomerate — trusted, resilient, ethical and impactful. Innovation will be the driving force behind our growth as we consolidate our operations and explore new opportunities across the region,” Afolabi said.

The SIFAX Group Chairman stated that the innovation push would also support the company’s regional expansion strategy, especially in West Africa, as it seeks to strengthen its market presence and scale its financial services offerings.

Afolabi noted that the 2026 outlook builds on significant achievements recorded in 2025, despite economic pressures, regulatory changes and global uncertainties.

He highlighted the strong performance of Skyway Aviation Handling Company (SAHCO), which recorded a 155.45 per cent profit growth in the first half of the year and secured strategic ground handling contracts with international airlines, including Ethiopian Airlines and Air Tanzania.

In the maritime sector, Ports & Cargo Handling Services Limited expanded its operations in the general cargo segment, while SIFAX Shipping Company Limited enhanced Nigeria’s export connectivity through the introduction of direct Less-than-Container Load (LCL) exports to the United Kingdom. SIFAX Shipping Inland Container Limited also continued to set benchmarks for efficient inland container terminal operations in the country.

The Group further deepened its diversification drive with the launch of SKYPAY Africa, a regional payment solution introduced through its financial subsidiary, Sky Capital. Beyond business performance, Afolabi reaffirmed the company’s commitment to social impact through the Ajoke Ayisat Afolabi Foundation, which continued to support vulnerable individuals and communities across Nigeria.

Looking ahead, the Chairman stressed that innovation at SIFAX Group would extend beyond technology to include people, culture and values. He urged employees to uphold professionalism, integrity, teamwork and accountability as the organisation pursues its long-term vision of becoming Africa’s global conglomerate.

Tegbe Highlights Benefits of Nigerian Tax Reform Acts 2025

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Tegbe Highlights Benefits of Nigerian Tax Reform Acts 2025

Chairman of the National Tax Policy Implementation Committee, NTPIC, Joseph Tegbe, has highlighted the far-reaching benefits of the Nigerian Tax Reform Acts 2025, describing the legislation as a major milestone in Nigeria’s quest for a resilient, transparent, and sustainable economy.

Tegbe said the new tax laws represent a comprehensive overhaul of Nigeria’s fiscal framework, designed to modernise tax administration, improve efficiency, and support inclusive economic growth.

According to him, the reforms are anchored on four key pillars: reconnecting the economy to the state, standardising and modernising fiscal administration, promoting predictability, and rebalancing the fiscal social contract between government and citizens.

“By broadening the tax net, simplifying rules, and improving administration, we are creating a more predictable fiscal environment that supports businesses and households,” Tegbe stated.

The NTPIC Chairman, who also serves as Director-General of the Nigeria-China Strategic Partnership (NCSP), noted that the reforms were informed by global best practices, citing countries such as South Korea, Singapore, and Rwanda, where structured tax reforms have driven economic growth and improved living standards.

“These countries have demonstrated that with the right policies, institutions, and leadership, tax reforms can transform economies and improve citizens’ welfare,” he said.

Tegbe stressed that a key focus of the 2025 Tax Acts is the protection of low-income earners and small businesses. Measures include a zero-tax threshold for individuals earning up to ₦800,000 annually and the expansion of zero-rated Value Added Tax (VAT) items in critical sectors such as healthcare, education, and agriculture.

“By removing the tax burden from small income earners and small businesses, the reforms aim to preserve livelihoods, encourage formal participation, and allow enterprises to grow organically,” he explained, adding that these sectors are vital to national development.

He also highlighted the emphasis on digitalisation and technology-driven tax administration, including the introduction of e-invoicing to enhance compliance, transparency, and efficiency, while reducing administrative bottlenecks.

Tegbe, however, noted that the success of the reforms would depend largely on effective implementation, underscoring the need for continuous stakeholder engagement to ensure broad understanding and compliance.

He said the implementation of the Tax Reform Acts is expected to stabilise Nigeria’s fiscal environment, support production, protect key economic sectors, and align tax administration with global standards.

The reforms, he added, will also improve Nigeria’s ease of doing business, attract foreign investment, and generate employment opportunities.

“We are confident that these reforms will unlock new opportunities for businesses, investors, and entrepreneurs, while contributing significantly to the growth and development of our economy,” Tegbe concluded.

Sanwo-Olu Reconstitutes LSSTF Board, Durosinmi-Etti, Ogunsan Retain Positions

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Sanwo-Olu Reconstitutes LSSTF Board, Durosinmi-Etti, Ogunsan Retain Positions

Governor of Lagos State, Mr. Babajide Sanwo-Olu, has reconstituted the Board of Trustees of the Lagos State Security Trust Fund, LSSTF, as part of efforts to further strengthen security architecture and public safety across the state.

The reconstitution reinforces the state government’s commitment to sustaining the LSSTF’s public–private partnership model, which has remained central to its operations since the Fund was established in 2007.

Under the new arrangement, Mr. Kehinde Durosinmi-Etti has been retained as Chairman of the Board. Also returning are retired Deputy Inspector-General of Police, DIG Agboola Oshodi-Glover, and the Chief of Staff to the Governor of Lagos State, Mr. Tayo Akinmade Ayinde.

New members appointed to the Board include the Group Managing Director/Chief Executive Officer of First Bank Plc, Mr. Olusegun Alebiosu; Group Managing Director of United Bank for Africa Plc, Mr. Oliver Alawuba; Executive Director of Zenith Bank Plc, Mr. Akin Ogunranti; and Managing Director of Providus Bank, Mr. Walter Akpani.

Others are the Managing Director of the Abdul Samad Rabiu Initiative, Mr. Ubon Udoh; Group Managing Director of Prime Atlantic, Mr. Ayo Otuyalo; and Chairman of Ibeju-Lekki Local Government and Chairman of Conference 57, Hon. Engr. Sesan Olowa.

Dr. Ayodele Ogunsan will continue as the Executive Secretary and Chief Executive Officer of the Lagos State Security Trust Fund, a position he assumed on October 31, 2025.

Governor Sanwo-Olu expressed appreciation to outgoing Board members who have completed their terms, commending their contributions to the Fund and wishing them success in their future endeavours.

Those who exited the Board include Mr. Segun Agbaje, Dr. Adesola Kazeem Adeduntan, Mr. Ebenezer Onyeagwu, Mr. Emeka Onwuka, Otunba Niyi Adewunmi, and Engr. Omotayo Bamgbose-Martins.

The Governor also expressed confidence that the newly appointed members would bring their wealth of experience and expertise to further strengthen collaboration between the government and the private sector in addressing security challenges.

The reconstituted Board is expected to enhance the LSSTF’s role in mobilising resources for security agencies in Lagos State through the provision of equipment, logistics and strategic interventions, while also promoting improved governance, accountability and innovation in tackling evolving security concerns in Nigeria’s commercial hub.

Alebiosu Reaffirms Commitment to Waterfront Regeneration in Kosofe

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Alebiosu Reaffirms Commitment to Waterfront Regeneration in Kosofe

Lagos State Commissioner for Waterfront Infrastructure Development, Hon. Dayo Bush Alebiosu, has reiterated the state government’s commitment to transforming waterfront communities in Kosofe Local Government Area through structured urban regeneration projects aimed at improving safety, economic value and long-term sustainability.

Alebiosu made this known during a New Year media briefing with journalists in Lagos, where he described recent developments in Oworonshoki and adjoining waterfront areas as part of a deliberate effort to restore order and unlock the economic potential of communities located along the lagoon corridor.

Recalling the security challenges that once defined Oworonshoki, the commissioner noted that the area had suffered prolonged periods of violence and unrest, making movement unsafe for residents, especially in the evenings.

According to him, the current regeneration efforts are designed to reverse that narrative and reposition the community for growth.

He explained that interventions by relevant government agencies followed laid-down procedures, including the issuance of statutory notices where required, stressing that waterfront development must align with planning and environmental standards.

Describing Kosofe as his ancestral home, Alebiosu said his interest in the area goes beyond official responsibility, adding that its waterfront location presents immense opportunities for development comparable to what exists in other parts of Lagos Island.

He emphasised that meaningful urban renewal goes beyond short-term poverty alleviation schemes, arguing that long-term value creation through infrastructure, land regularisation and economic planning offers more sustainable benefits to residents.

The commissioner also clarified that demolition activities recently carried out in Oworonshoki were under the purview of the Ministry of Physical Planning and Urban Development, not the Ministry of Waterfront Infrastructure Development. He said, however, that he had intervened in his personal capacity to support affected residents, including facilitating engagements at the Lagos State House of Assembly.

According to Alebiosu, he and some associates have also set up a foundation to assist families displaced by the exercise with relocation support, while dismissing what he described as misinformation surrounding the government’s intentions in the area.

On ongoing waterfront projects, the commissioner announced the completion of channelisation works in Agboyi–Ketu, adding that plans are underway for the formal launch of a jetty in the community.

He further disclosed that the Bariga Jetty, recently approved by the state governor, will be redeveloped into a modern fish market to enhance economic activities and livelihoods along the waterfront.

He said the regeneration programme would also cover the Ogudu and Bariga axis, as part of a broader plan to integrate waterfront infrastructure into Lagos’ urban development framework.

Alebiosu also reaffirmed the state government’s commitment to environmental protection, particularly in regulating sand dredging activities along waterways.

He stressed that while sand remains critical for development, unregulated dredging poses serious risks to the environment and future generations.

According to him, strict monitoring and enforcement remain central to the ministry’s strategy to balance development with environmental sustainability, as Lagos continues to expand its waterfront infrastructure.

Lagos Police Invite Pastor Chris Okafor Over Alleged Rape, Other Serious Offences

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LLagos Police Confirm Arrests in Double Murder Case, Declare Key Suspects Wanted

Lagos State Police Command has invited Pastor Chris Okafor, Senior Pastor of the Mountain of Liberation and Miracles Ministries, to report at the State Criminal Investigation Department, SCID, Panti, over allegations of multiple rape, other sexual offences, and conduct likely to cause a breach of public peace.

According to the police, the cleric was formally served with a police invitation letter through his legal representative and is expected to report at the SCID, Panti, by 10:00 a.m. on Monday, January 5, 2026, to answer questions relating to the allegations.

The Commissioner of Police, Lagos State Command, CP Olohundare Jimoh, has directed the Deputy Commissioner of Police in charge of the SCID to conduct a thorough and comprehensive investigation into the allegations, which the police described as involving capital offences and other serious crimes.

As part of measures to ensure a credible investigation, CP Jimoh has ordered immediate security coverage and protection for alleged victims. He also encouraged anyone who may have been affected by the alleged actions of the pastor to come forward and report at the SCID, Panti, where investigations have commenced.

The police assured that the identities of victims and witnesses would be treated with utmost confidentiality and protected in line with the law.

Individuals with credible information or evidence relevant to the case were also urged to assist the investigation without fear or intimidation, either by contacting the Police Public Relations Department at the Lagos State Command or reporting directly to the SCID.

Reiterating the Command’s stance, the Commissioner of Police assured members of the public that the investigation would be conducted professionally, transparently, and without bias, stressing that no individual is above the law.

The Lagos State Police Command further reaffirmed its commitment to maintaining law and order and ensuring that all allegations of criminal conduct are investigated according to due process, regardless of the status or position of those involved.

APC Group Raises Alarm Over Alleged Persecution of Kayode Ojo’s Supporters in Ekiti

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APC Group Raises Alarm Over Alleged Persecution of Kayode Ojo’s Supporters in Ekiti

A group within the All Progressives Congress, APC, has raised concerns over what it described as alleged sustained intimidation, arrests and harassment of supporters of Engineer Kayode Ojo, a 2026 governorship aspirant in Ekiti State.

In a statement issued on Wednesday, the group alleged that several APC members who have openly or privately expressed support for Ojo have been subjected to intimidation, arrest, harassment and detention under the administration of Governor Biodun Oyebanji.

According to the group, the development poses a threat to internal party democracy, the rule of law and public confidence in democratic institutions, noting that political pluralism within a party should not be criminalised.

Those listed as affected include APC members from different parts of the state such as Bayo Aderiye (Ado-Ekiti), Toyin Abeleje, Taiwo Fabiyi (Emure-Ekiti), Taiwo Otunlape, Bayo Itakorode (Igede-Ekiti), Obebe Oluwafemi Ayekooto (Otun-Ekiti), Olugbenga Kayejo (Ikere-Ekiti), Omoleye Olajide (Ifaki-Ekiti), as well as members of the APC ward executive in Ikoro-Ekiti, including the ward chairman, women leader and youth leader.

The statement described the arrests and alleged harassment as part of a deliberate attempt to silence dissenting political views within the ruling party.

The group particularly drew attention to the arrest and detention of Akogun Abayomi, popularly known as Lustay, who was reportedly picked up by police officers on January 1, 2026, along Old Iyin Road in Ado-Ekiti after exchanging New Year greetings with an officer he was familiar with.

It was alleged that Abayomi was arrested without explanation or warrant and subsequently detained without access to his family, lawyers or medication. The group further claimed that repeated visits to the Rapid Response Squad (RRS) office by his lawyer and family were met with denials that he was in custody, until his wife reportedly sighted his vehicle within the premises.

The group accused officers of the Rapid Response Squad of subjecting Abayomi to political intimidation, alleging that he was pressured to renounce his support for Engineer Kayode Ojo, an allegation it said he resisted.

Describing the situation as a national embarrassment, the group called on the Inspector-General of Police, Kayode Egbetokun, to intervene and caution the Ekiti State Police Command against what it described as the misuse of law enforcement for political purposes.

It also appealed to the National Judicial Council to investigate the alleged abuse of judicial processes, particularly the application of Form K, in cases involving politically targeted individuals.

The group further called on the National Security Adviser, Nuhu Ribadu, traditional rulers, civil society organisations, senior advocates of Nigeria and prominent Ekiti leaders to intervene in order to prevent what it described as a slide into repression and instability in the state.

The statement concluded with a call for the immediate release of Akogun Abayomi and other individuals allegedly detained over their political beliefs, as well as an independent investigation into the incidents.

Ogun Police Clear Ogere Section of Lagos–Ibadan Expressway, Restore Traffic Flow

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Ogun Police Dismiss Curfew Rumours, Assure Residents of Safety

Normal traffic flow has been restored on the Lagos–Ibadan Expressway at Ogere through the prompt intervention of personnel of the Ogun State Police Command.

The clearance operation followed an obstruction that disrupted vehicular movement along the busy expressway, causing delays for motorists. Police personnel from the Ogun Command were swiftly deployed to the scene, where they effectively managed traffic and ensured the removal of the obstruction.

The timely response by the Ogun Command eased congestion and restored free flow of vehicles, preventing a prolonged gridlock on the vital transport corridor.

Motorists have been advised to exercise patience, obey traffic regulations, and cooperate with security and traffic officials to ensure smooth and safe travel along the expressway.

Baale Ward Councillor Empowers 250 Women in Coker-Aguda LCDA

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Baale Ward Councillor Empowers 250 Women in Coker-Aguda LCDA

The Councillor representing Baale Ward in Coker-Aguda Local Council Development Area, LCDA, Hon. Olaiya Adekunle, has empowered 250 women in the ward with a cash grant of ₦20,000 each as part of an appreciation and grassroots empowerment initiative.

The programme, held in Baale Ward, was aimed at recognising the contributions of women to the electoral success of the All Progressives Congress, APC, during the last elections and supporting vulnerable residents engaged in small-scale businesses.

Speaking at the event, Hon. Olaiya said the initiative was designed to reward loyalty, dedication, and grassroots participation, particularly by women who mobilised support for the party during the electioneering period.

According to him, beneficiaries were selected through community structures, including Community Development Associations (CDAs), religious bodies, artisans’ groups, and ward leaders.

“Our women stood by us during the elections. They mobilised, they supported, and they remained committed. It is only right that we give back and put smiles on their faces,” he said.

The councillor noted that the empowerment programme, which targets a total of 500 residents in phases, was funded through personal resources, support from friends and family, and contributions from well-wishers.

He also expressed appreciation to the Executive Chairman of Coker-Aguda LCDA, Hon Ogidan Azeez Owolabi, for his continuous support, noting that grassroots development remains a shared responsibility.

Hon. Olaiya reaffirmed his commitment to sustaining people-oriented programmes, stressing that rewarding grassroots support is key to strengthening democratic participation and community development.

In her remarks, Director-General of the National Senior Citizens Centre and Apex APC Leader in Coker-Aguda LCDA, Medinat Akinyemi-Obe, who was represented by her deputy, Ahmeed Dada-Nla, commended the gesture, noting that women’s development translates into national development.

Also speaking, the Bashorun of Ojora and Iganmu Kingdom, Akeem Ojora, also commended the initiative, while describing it as a true demonstration of grassroots governance, urging other legislators to emulate the gesture.

Several beneficiaries at the event expressed gratitude for the gesture, describing it as timely and impactful.

Mrs. Seyi Ajibola, one of the beneficiaries, said the cash support would help her improve her family welfare and small business.

“I am very happy. I will use the money to support my household and improve my trade,” she said.

Another beneficiary, Reverend Mrs. Peace Sunday, JP, described the programme as unprecedented in the ward, praising the councillor for personally organising the empowerment.

“Since 1999, this is the first time we are seeing a councillor single-handedly empower people in this manner. This ₦20,000 will go a long way for many of us who are into business,” she said.

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