Connect with us

Business

Customs Seized 34 Different Brands of Vehicles, Rice, Others

Published

on

Nigeria Customs Services

Vehicles, Rice, Others Seized by Customs

The Nigeria Customs Service,  Federal Operations Unit, FOU,  Zone A, announced it has confiscated 34 different brands of old and new vehicles, foreign parboiled rice and other items from smugglers.

Usman Yahaya, the Acting Customs Area Controller, FOU, disclosed this in a statement released by Peter Duniya, the Public Relations Officer, FOU.

Yahaya said that the seizure was made at Ido-Eruwa road, while the items seized were 34 different brands of new and used vehicles that contained secondhand clothes, Indian hemp and foreign parboiled rice.

He said: “I welcome you to this historic press briefing which is aimed at showcasing a large scale of smuggled vehicles laden with different kinds of contraband goods. Some economic saboteurs met their waterloo when our operatives acted based on credible information, made a single seizure at Ido, Eruwa Road-Ibadan of Oyo State. The contraband includes 34 different brands of both new and used vehicles laden with banned items such as second hand clothes, foreign parboiled rice and Indian hemp.

Yahaya disclosed that the custom operatives faced challenges from smugglers who in support of the hoodlums in the process of getting the contraband to the Customs warehouse in Lagos.

Our operatives were met with stiff resistance from a combination of smugglers, hoodlums and villagers. However, with the application of high level of professionalism, the patrol teams were able to bring all the vehicles down to Lagos without any casualty.

He, therefore, warned smugglers to stop this act of sabotaging the government policies of making Nigeria self-sufficient in food production.

While we appreciate the support and the cooperation of patriotic members of the public in carrying out our mandate by providing timely and useful information, however, recalcitrant economic saboteurs should note that, they would continue to count their losses because we are better mobilised, organised and backed by the extant laws to be always ahead of them,” he concluded.

Continue Reading
Comments

Business

Google, Meta Dominate as Advertising Industry Set to Exceed Growth Expectations

Published

on

Lagos Nigeria - Investors King

The advertising industry is expected to exceed growth expectations for 2021 as more brands turn to the search engine and social media platforms to get across to their customers during this pandemic, according to two advertising industry forecasts released on Monday.

In spite of the fact that the year was marked by supply chain disturbances across the globe which delayed products from reaching shelves and a user privacy crackdown by Apple Inc that caused many to fear that mobile advertising would be disrupted, brands have gone on to advertise online.

According to Jonathan Barnard, the Director of Global Intelligence at advertising firm Zenith, in-store shopping has still been slow because of the pandemic. Zenith was one of those who published an ad expenditure forecast on Monday.

The new businesses that were formed in the thick of the pandemic needed to advertise so that they would find customers, while other companies most likely maintained the ad spending in order to stay rooted in the minds of consumers, as said by Brian Wieser, the Global President of Business Intelligence at advertising agency GroupM.

The GroupM forecast predicts that global advertising spending will grow about 22.5% in 2021 compared to the previous year, while Zenith estimated a growth of 15.6%. Both estimates were updated from the previous expectations that were held.

The reports state that by 2022, advertising spending around the world is expected to increase by about 9%.

The growth has been beneficial for Alphabet Inc (Google), Meta and Amazon.com Inc, who are major sellers of digital ads and can now account for more than half of all the advertising spending occurring outside the walls of China. This represents an increase from about 40% back in 2019, according to GroupM.

The need for marketers to reach their customers directly has resulted in the success of retailers such as Walmart, Kroger and Target to quickly grow their ad sales businesses, allowing brands to target more customers using their shopper data.

Continue Reading

Appointments

Ecobank Group Appoints Jubril Mobolaji Lawal as Regional Executive and Managing Director Designate for Ecobank Nigeria

Published

on

Jubril Mobolaji Lawal

Ecobank Group, the leading pan-African banking group, announces that Jubril Mobolaji Lawal has been appointed as Regional Executive and Managing Director designate of Ecobank Nigeria, subject to the approval of the Central Bank of Nigeria.

The appointment is made ahead of Patrick Akinwuntan’s upcoming retirement, due to him reaching retirement age in January 2022.

Mobolaji Lawal joins Ecobank having been a versatile senior banking executive and digital transformation specialist for over 28 years with Guaranty Trust Bank Plc. He has deep involvement and experience in digital and retail banking, corporate and commercial banking, credit risk management and corporate finance. His previous experience includes being Executive Director at GTBank Plc Nigeria, and Non-Executive Director roles at both GTBank Ghana Limited and Nigeria Interbank Settlement Systems Plc. Mobolaji led the team that envisioned and implemented GTBank Plc’s retail and digital banking strategy to achieve industry-wide leadership over a ten-year period and he introduced new products and solutions that have helped to deepen payments and access to digital financial services in Nigeria.

Mobolaji was selected and appointed as Managing Director designate following a keenly contested selection process, which included both internal and external candidates.

Mobolaji Lawal holds a Bachelor of Law degree from the Obafemi Awolowo University, Nigeria; B.L. from the Nigerian Law School and a Master of Business Administration from Oxford University, United Kingdom. He has also attended several executive management and banking specific developmental programmes at leading educational institutions including Harvard Business School, Stanford Graduate School of Business and Institut Européen d’Administration des Affaires (INSEAD).

Commenting on the appointment, Ade Ayeyemi, CEO, Ecobank Group said: “We welcome Mobolaji Lawal to the Ecobank Group and we stand to benefit from the extensive experience that he has acquired in various fields across banking, which will play a major role in continuing to rebuild our franchise in Nigeria. Nigeria is a key market for us, in which we have seen significant improvement over the past three years as we reposition and leverage upon our pan-African strengths in digital products and services, payments and as the go-to-bank for businesses seeking to grasp the growth opportunities being created by the AfCFTA, across all our markets on the continent. I wish Mobolaji the best and assure him of both my support and that of the entire Ecobank Group.”

Mrs. Bola Adesola, the Chairman of the Board of Ecobank Nigeria said: “We look forward to working with Mobolaji and assure him of the full support of the Board, Management and all the staff of Ecobank Nigeria. The business in Nigeria is on the path of transformation and we are confident that Mobolaji will have significant impact in advancing our positive trajectory.”

Mobolaji Lawal will assume the position of Managing Director, Ecobank Nigeria, upon receiving the approval of the Central Bank of Nigeria and after Patrick Akinwuntan retires.

Continue Reading

Business

South Africa Encourages Nigerian Businesses to Expand to the Country

Published

on

In an effort to improve trade relations between Nigeria and South Africa, the South African High Commissioner to Nigeria Thamsanqa Dennis Mseleku has implored more Nigerian businesses (especially financial institutions) to expand their businesses to South Africa.

The South African representative revealed that the South African consulate was currently working on issuing Nigerian business owners (or operators) visas valid for ten years, in order to further bolster business relationship between both countries.

This was mentioned by Mseleku yesterday on ‘The Morning Show’, a programme which is monitored closely by Arise news, on which he also noted that the bilateral agreements being signed by both countries would be fully executed in the coming years.

According to Mseleku, Nigerian businesses are operating in South Africa, with the issue being raised back in 2019 when President Buhari was present in South Africa specifically talking about Access Bank and Air Peace. Mseleku stated that Access Bank has since opened up a branch in South Africa, and Air Peace is now making flights to and from South Africa.

Mseleku then said,”So, the issue is that we must encourage more businesses that want to go to South Africa from Nigeria to do so particularly in the financial sector.”

This prospective deal between both countries is promising, because the encouragement of Nigerian businesses to come into South Africa may eventually lead to more South African businesses coming into Nigeria to operate. The moves will undoubtedly boost the economies of both countries.

It may also encourage other African countries to engage in trades and have bilateral or multilateral agreements with other African countries, boosting economies across the entire continent.

Mseleku also noted that some South African countries were pulling out of Nigeria, which he cited as one of the reasons for the visit of the South African President.

He also addressed the inaccessibility of visa to business personnel, saying that the country is agreeing and would go on implementing longer term visas for them. He then mentioned the 10 years visa which the country is considering.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending