Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Oil Prices Rise over US-Iran Peace Talks Uncertainty

    August 4, 2026

    XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK

    August 4, 2026

    NEC Approves Refinancing of $3.3bn Project Gazelle

    August 4, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Oil Prices Rise over US-Iran Peace Talks Uncertainty
    • XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK
    • NEC Approves Refinancing of $3.3bn Project Gazelle
    • South African Rand Weakens as U.S. Dollar Index Rebounds
    • Wall Street, European Markets Rally on Global Inflation Relief Bets
    • Bitcoin Trades Sideways as Strategy Inc. Reduces BTC Holding
    • Ethereum Hovers at $1.85k as BitMine Hikes ETH Holdings to 4.8%
    • Banking System Surplus Liquidity Rises 70%, Interbank Rates Mixed
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Tuesday, August 4
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » Nigerian Customs Vows to End Petroleum Products Smuggling

    Nigerian Customs Vows to End Petroleum Products Smuggling

    Marketforces AfricaBy Marketforces AfricaJanuary 10, 2024Updated:January 10, 2024 News No Comments3 Mins Read
    Nigerian Customs Vows to End Petroleum Products Smuggling
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Nigerian Customs Vows to End Petroleum Products Smuggling

    The Nigerian Customs Service (NCS) has expressed commitment to end petroleum products smuggling in 2024. The Comptroller General (C-G) of NCS, Mr Adewale Adeniyi, also said that the service would block all attempts to smuggle weapons and other contraband into the country.

    Adeniyi made this known on Wednesday in Abuja, at a news conference on the NCS activities in 2023. “Our zero approach towards smuggling, especially that of petroleum products out of the country – rice, arms and ammunition – would be rigorously enforced.

    “We remain resolute on addressing border management challenges, balancing security concerns with trade facilitation,“ he said.

    Adeniyi added that the NCS had conducted a vigorous campaign against smuggling and illicit trade in 2023 which resulted in 3,806 seizures of illicit items, including artefacts, antiquities, drugs, food products, and endangered species of flora and fauna, among others.

    “Remarkably, we also achieved during this period, a total of 52 convictions, 11 of them specifically linked to illicit trade in animal wildlife.

    “This is also a record performance through diligent prosecution of our cases and the successful conviction of some of those criminals that were apprehended,“ the C-G said.

    Adeniyi said that the service would continue to sanitise trade activities and strengthen its anti-smuggling strategies, as part of efforts to achieve its 2024 revenue target of N5.7 trillion.

    He announced that the service in 2023 generated N3.2 trillion, the highest ever recorded in the history of the NCS. According to him, this represents 21.4 per cent increase in the revenue generated compared to the same period in 2022.

    He explained that their 2023 performance was remarkable given the fact that the NCS recorded a revenue shortfall of N532 billion in the first half of 2023. He however said that the service still has operational challenges in the area of inadequate infrastructure, delay in policy implementation, and social and political factors.

    Adeniyi explained that measures such as the establishment of a revenue recovery team, streamlining of enforcement operations and extensive stakeholder engagement were being taken to reverse the operational challenges.

    The C-G pledged that the service services would adopt innovative measures and deploy technology in its operations to align with global best practices. He added that they would revamp the electronic auction platform for more robust operations, prevent infiltration by hackers, and ensure transparency and efficiency.

    Adeniyi added that one of NCS’s strategies in 2024 would be to provide continuous updates on the exchange rate to guide personnel in ensuring optimal revenue generation and adapting to changes in the operating environment. #Nigerian Customs Vows to End Petroleum Products Smuggling

     Naira Lost 11% as Banks Issue New Update on FX Spending

    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

    Oil Prices Rise over US-Iran Peace Talks Uncertainty

    XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK

    NEC Approves Refinancing of $3.3bn Project Gazelle

    South African Rand Weakens as U.S. Dollar Index Rebounds

    Wall Street, European Markets Rally on Global Inflation Relief Bets

    Bitcoin Trades Sideways as Strategy Inc. Reduces BTC Holding

    Add A Comment

    Comments are closed.

    Editors Picks

    Oil Prices Rise over US-Iran Peace Talks Uncertainty

    August 4, 2026

    XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK

    August 4, 2026

    NEC Approves Refinancing of $3.3bn Project Gazelle

    August 4, 2026

    South African Rand Weakens as U.S. Dollar Index Rebounds

    August 4, 2026

    Wall Street, European Markets Rally on Global Inflation Relief Bets

    August 4, 2026
    Latest Posts

    Oil Prices Rise over US-Iran Peace Talks Uncertainty

    August 4, 2026

    XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK

    August 4, 2026

    NEC Approves Refinancing of $3.3bn Project Gazelle

    August 4, 2026

    South African Rand Weakens as U.S. Dollar Index Rebounds

    August 4, 2026

    Wall Street, European Markets Rally on Global Inflation Relief Bets

    August 4, 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.