Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Naira Falls to N1,360 as Interbank FX Turnover Dips by 57%

    June 18, 2026

    FirstHoldco, Access, Drown NGX Index, Investors Lose N758bn

    June 17, 2026

    UK Court Acquits Diezani Alison-Madueke of Bribery Charges

    June 17, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Naira Falls to N1,360 as Interbank FX Turnover Dips by 57%
    • FirstHoldco, Access, Drown NGX Index, Investors Lose N758bn
    • UK Court Acquits Diezani Alison-Madueke of Bribery Charges
    • CBN Hikes Interest Rates on Treasury Bills to 17.34%
    • Bitcoin Slips as Bank of Japan Hikes Rates to 31-Year High
    • Nigeria Eurobonds Yield Rises 8bps on Risk-Off Sentiment
    • IMF: FG Dismisses Report on New Telecom, Fuel Taxes
    • G7 leaders to Discuss Global Economic Recovery
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Thursday, June 18
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » Customs Service Intercepts Rice, Vehicles, Cannabis, Others Worth N751bn

    Customs Service Intercepts Rice, Vehicles, Cannabis, Others Worth N751bn

    Julius AlagbeBy Julius AlagbeMarch 8, 2024 News No Comments2 Mins Read
    Customs Service Intercepts Rice, Vehicles, Cannabis, Others Worth N751bn
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Customs Service Intercepts Rice, Vehicles, Cannabis, Others Worth N751bn

    The Federal Operations Unit (Zone `A’) of the Nigeria Customs Service intercepted and seized different contraband goods valued at N751.1 billion in February.

    Controller in charge of the zone, Mr Hussein Ejibunu told newsmen in Lagos on Friday that 3,779 (50kg) bags of foreign rice equivalent to seven truckloads were seized from various states in the Southwest.

    He put the street value of the rice at N365 million.

    He said the zone was committed to fighting smuggling, adding that the commitment had contributed to a drastic reduction in rice and fuel smuggling in its area of operation.

    “As usual, rice was top on the list of our February 2024 seizures in terms of volume and value.

    “Other items seized within the month included one locally-made gun and six pieces of empty cartridges on Abeokuta Road.

    “We also intercepted 731 parcels of suspected Indian hemp weighing 482kg; one 40ft container of 286 cartons of new rubber slippers, seven units of used motorcycles; 28,000 litres of petrol and 2,420 pieces of used tyres.

    “Worthy of note is the interception of three Benin Republic-bound trucks laden with 880 bags of white beans, 584 bags of onions and 18 bags of dry pepper on Ajilete-Idiroko Road in Ogun.

    “Instead of seizing the food items, we ensured that the trucks were re-directed to Nigerian markets where they were sold to Nigerians by the owners,’’ he said.

    Ejibunu also told newsmen that personnel of the zone prevented the smuggling of 11 exotic used vehicles worth more than N200 million into the country.

    He said smugglers of the vehicles met stiff resistance against their duty evasion and defiant behaviour.

    He said the zone collected N78.16 billion as revenue into the federation account through the issuance of Demand Notices on Customs Duties that were discovered to be underpaid.

    He said that preparatory to Easter celebrations, the unit had strengthened its intelligence-led anti-smuggling operations strategies to forestall smuggling and duty evasion.

    Ejibunu charged smugglers to desist from the unlawful business detrimental to their lives and the Nigerian economy. #Customs Service Intercepts Rice, Vehicles, Cannabis, Others Worth N751bn

    Benchmark Yield on Nigerian Bonds Climbs to 18.1%

    NCS
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Julius Alagbe
    • Website
    • LinkedIn

    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

    Keep Reading

    Naira Falls to N1,360 as Interbank FX Turnover Dips by 57%

    FirstHoldco, Access, Drown NGX Index, Investors Lose N758bn

    UK Court Acquits Diezani Alison-Madueke of Bribery Charges

    CBN Hikes Interest Rates on Treasury Bills to 17.34%

    Bitcoin Slips as Bank of Japan Hikes Rates to 31-Year High

    Nigeria Eurobonds Yield Rises 8bps on Risk-Off Sentiment

    Add A Comment

    Comments are closed.

    Editors Picks

    Naira Falls to N1,360 as Interbank FX Turnover Dips by 57%

    June 18, 2026

    FirstHoldco, Access, Drown NGX Index, Investors Lose N758bn

    June 17, 2026

    UK Court Acquits Diezani Alison-Madueke of Bribery Charges

    June 17, 2026

    CBN Hikes Interest Rates on Treasury Bills to 17.34%

    June 17, 2026

    Bitcoin Slips as Bank of Japan Hikes Rates to 31-Year High

    June 17, 2026
    Latest Posts

    Naira Falls to N1,360 as Interbank FX Turnover Dips by 57%

    June 18, 2026

    FirstHoldco, Access, Drown NGX Index, Investors Lose N758bn

    June 17, 2026

    UK Court Acquits Diezani Alison-Madueke of Bribery Charges

    June 17, 2026

    CBN Hikes Interest Rates on Treasury Bills to 17.34%

    June 17, 2026

    Bitcoin Slips as Bank of Japan Hikes Rates to 31-Year High

    June 17, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.