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Customs Eyes 50% Revenue Growth With Oracle Blockchain

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Nigeria Customs Service
  • Customs Eyes 50% Revenue Growth With Oracle Blockchain

The Nigerian Customs Service (NCS) said it is eyeing a 50 per cent revenue growth from its adoption of Oracle’s Blockchain Cloud Service.

Assistant Comptroller-General, Modernisation, Nigeria Customs Service, Aber T. Benjamin, said the organisation has used Oracle’s blockchain to build a trusted platform for the automation of Customs Excise Trade business processes and procedures.

“Using this technology, we found the entire business environment can be migrated to blockchain to automate processes and create transparency and predictability. Once the transition to blockchain is completed, NCS expects revenue growth increase of about 50 per cent. This technology helps our organisation to build global trust for Nigerian businesses through irrefutable data on goods manufactured in the country,”ACG Benjamin said.

The successful completion of this Proof of Concept (PoC) shows that, the entire business environment of Customs can be migrated to blockchain, to automate as many customs processes as possible, creating transparency and predictability.

NCS last year recorded its highest revenue collection ever of over N1 trillion as against N770 billion target set for the year.

The block chain technology, which is also being used to drive cryptocurrencies, helps businesses to achieve more secure and efficient transactions and to track goods through supply chains on a global scale.

Benjamin said the technology is helping the NCS to build global trust for Nigerian businesses through irrefutable data on goods manufactured in the country.

Executive Vice President, Oracle Cloud Platform, Amit Zavery, said blockchain has the power to fundamentally transform how every industry does business by making interactions more secure, transparent, efficient and cost-effective.

He said: “Oracle Block chain Cloud Service provides customers with a development platform to build their own networks, and to quickly integrate with Oracle PaaS and third-party applications they already use, as well as other block chain networks and Oracle PaaS services. It also enables users to provision block chain networks, join other organisations, and deploy and run smart contracts to update and query the ledger.”

He added that Oracle’s block chain platform leverages the company’s decades of experience across industries and its extensive partner ecosystem to reliably share and conduct trusted transactions with suppliers, banks, and other trade partners through block chain.

“Block chain promises to be one of the most transformative technologies of our generation. With Oracle’s platform, enterprises can enhance their business, eliminate unnecessary processes, and transact with their distributed networks more easily, transparently and securely than ever before,” he said.

diverse systems of record; greatly accelerating time to market and multiplying the returns from using the block chain platform across different application use cases”.

Group Vice President of Manufacturing and Retail Insights, IDC, Robert Parker, said: “Block chain projects are quickly moving from pilot to production as enterprises and governments begin to see the inherent value of distributed ledgers and smart contracts.

“As spending accelerates, buyers will need an enterprise class platform beyond open source that includes data security and integrity, scalability, manageability and interoperability.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Business

Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others

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Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.

 

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Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

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Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations

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FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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