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 » Nigeria Customs Suspends Sales of Seized Rice after Stampede

    Nigeria Customs Suspends Sales of Seized Rice after Stampede

    Marketforces AfricaBy Marketforces AfricaFebruary 27, 2024Updated:February 27, 2024 News No Comments3 Mins Read
    Nigeria Customs Suspends Sales of Seized Rice after Stampede
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Nigeria Customs Suspends Sales of Seized Rice after Stampede

    The Nigeria Customs Service (NCS) has suspended its food disposal initiative following a stampede that claimed seven lives on Feb. 23. The unfortunate incident was during the distribution of 25Kg bags of rice at its Zonal Headquarters, Yaba, Lagos State

    The service announced the suspension in a statement by its National Public Relations Officer, Mr Abdullahi Maiwada, on Monday. Maiwada said that the suspension was part of the service’s resolve to ensure the safety of Nigerians and to enable it to properly articulate its next line of action, in order not to defeat the vision of the initiative.

    Nigeria Customs had announced on Feb. 20 that it would facilitate the direct disposal of food items forfeited to the Federal Government. The initiative was in response to the current challenges of food security in Nigeria and the increasingly high costs of essential food items.

    It also targeted an improvement in the lives of indigents. The distribution of 25kg of rice, thus, commenced on Feb. 23 at the discounted price of N10,000 in Lagos. The service said that the exercise would be managed to ensure that the benefits reach the needy.

    According to the service spokesperson, the bags of rice were out of stock during the pilot distribution, which led to heightened desperation among the crowd. “Unforeseen challenges arose when we ran out of stock and announced the continuation of the exercise the following day, leading to a regrettable outcome.

    “The crowd became desperate and charged through our barricades in search of rice bags inside emptied containers. In the stampede that ensued, some fatalities and injuries were regrettably recorded.

    “Considering the recent unfortunate event, we regrettably announce the suspension of this exercise until we establish what transpired on Friday, 23 February 2024,” he said. He said that an internal investigation had been initiated to understand the circumstances surrounding the unfortunate event.

    The service commiserated with the families of the deceased and assured them of its unwavering support. NCS is working with hospital authorities to establish contact and engage directly with the victims’ families regarding their next steps,” he said.

    In a similar development, the Spokesperson, in an interview with NAN, said that the process of selling the rice was in line with its regulations. He said that the money collected from the sales was going directly into the federation account.

    This was in reaction to critics who had argued that the bag of rice sold at N10,000 was supposed to be given free to the vulnerable in the society. He said that the items had monetary value and were sold at that amount to generate revenue for the government.

    “Even though the amount of revenue collected through this scheme is inconsequential compared to what we collect as revenue, we need to recoup the value of duty that would have been collected on those items if they were imported into Nigeria,” he said. According to him, the price of the rice was discounted to enable indigents afford it.

    “But it was later given out for free because of the mammoth crowd at the distribution centre,” he said. #Nigeria Customs Suspends Sales of Seized Rice after Stampede FEC Adopts Oronsaye Report on Civil Service Reform

    Customs Investors NCS Nigeria
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    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.