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Using Data Analytics Will Upscale Nigeria Customs Operations – DCG Abba-Kura

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The Deputy Comptroller-General (DCG) of Nigeria Customs Service, Mohammed Abba-Kura said the organisation is leveraging on data analytics for secure and efficient trade facilitation in its operations and to ensure better global service delivery.

Abba-Kura who is in-charge of enforcement, investigations and inspections at the customs headquarters in Abuja, made this known to newsmen on Thursday at the ongoing Comptroller-General of Customs (CGC’s) Conference in Lagos.

He stated that data analytics and the new technologies were essential to the modernisation and efficient operations of the service, as it provides real-time information on planning, tracking, better revenue prediction and generation.

He stressed the relevance of the customs’ conference, which he said is an avenue for stakeholders to carryout an assessment of their performance and made necessary corrections that will lead to enhance service delivery.

The DCG also said that the customs service will continue to synergise with other organisations both within and outside the country to further boost its operations and forge partnerships.

He described the Customs Comptroller-General, Bashir Adewale Adeniyi is a good listener, straight forward, innovative, team player and very passionate about the success of the service.

Abba-Kura therefore assured Nigerians and President Bola Tinubu that the new leadership at the customs service will not disappoint them in the discharge of their duties.

The CG Conference was resuscitate by the new Customs boss after eleven years suspensions by its previous management.

In that regard, Abba-Kura expressed gratitude to the Vice President Kashim Shettima, Lagos State Governor, Babajide Sanwo-Olu, captain of industries and traditional rulers whose presence, he said boosted the morale of officers and men of the service.

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Alutanews reports that, the Customs CG, while welcoming participants at the event, said the significance of technology in global customs operations cannot be overemphasised and hence the Nigeria Customs adaptation to global requisitions.

Adeniyi expressed optimism that the Theme of this year’s conference would provide guiding standards and principles in helping the Nigerian government open new frontiers in customs operations.

The CG also noted that, “it is requisite that the Customs Service streamline and integrate its services in its bid for global service delivery and meeting up international standards.”

In his goodwill message, the Director-General of the World Customs Organisation (WCO), Dr. Kunio Mikuriya, commended the Nigerian Customs for working tirelessly to facilitate the adaptation of data analytics and e-customs operations.

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MTN Nigeria posts N1trn revenue surge

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MTN Nigeria Communications Plc generated N1.0 trillion in service revenue in the first quarter of 2025.

This marks a 40.5 per cent increase from the N752.99 billion earned in Q1 2024.

The company confirmed this in a corporate filing with the Nigerian Exchange Ltd. on Tuesday.

Profit after tax dropped by 134 per cent, falling to N133.7 billion from N392.7 billion in the same period of 2024.

Its total subscriber base grew by 8.2 per cent to 84.1 million, with 3.2 million new additions in Q1 2025.

Active data users rose by 13 per cent to 50.3 million, following the addition of 2.6 million users.

EBITDA climbed 65.9 per cent to N492.7 billion, while EBITDA margin improved by 7.2 percentage points to 46.6 per cent.

The company recorded free cash flow of N209.9 billion and earnings per share stood at N6.38.

MTN Nigeria CEO, Karl Toriola, expressed satisfaction with the Q1 2025 results, citing strong strategic execution and resilient service demand.

He said momentum from Q4 2024 had helped put the firm on track to restore profitability and achieve a positive net asset position.

He added that regulatory approval for price adjustments was essential to sustain investment and maintain service quality.

This approval enabled N202.4 billion in capital expenditure, up 159 per cent, aimed at expanding capacity and enhancing user experience.

Toriola said the 40.5 per cent growth in service revenue underscored strong demand and commercial discipline.

He noted that Q1 results do not yet reflect the full impact of price changes made late in the quarter. (NAN)

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NGX transacts 733.05m shares worth N35.29bn

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The Nigerian Exchange Ltd. (NGX) on Tuesday transacted 733.05 million shares worth N35.288 billion in 16,619 transactions.

This is in contrast with 500.59 million shares worth N12.110 billion that was traded in 17,637 deals earlier.

Meanwhile, transactions in the shares of Fidelity Bank topped the activity chart with 285.15 million shares worth N5.774 billion.

MTN Nigeria followed with 86.850 million shares valued at N20.931 billion while Access Corporation transacted 35.56 million shares worth N851.27 million.

Universal Insurance traded 29.810 million shares valued at N15.188 million and Guaranty Trust Holding Company sold 28.510 million shares worth N1.935 billion.

Meanwhile, the stock market on Tuesday witnessed a downturn as investors lost N1.116 billion with mixed performance indices.

Market capitalisation dropped by N1.116 billion or 0.70 per cent to close at N65.577 trillion, compared with N66.693 trillion posted on Monday.

Similarly, the All-Share Index (ASI) fell by 185 points or 1.17 per cent, to settle at 105,931.18 from N106,116.18 earlier recorded.

The negative trend was driven by profit taking in MTN Nigeria, Africa Prudential, PZ, First Bank Holding Company and others.

However, the market breadth closed positive with 33 gainers and 19 losers, suggesting positive sentiment.

On the gainers’ chart, Legend Internet Plc rose by 10 per cent, closing at N8.25 while ABC Transport gained by 9.94 per cent, to settle at N1.88 per share.

Cadbury Nigeria rose by 9.91 per cent, ending the session at N32.15 and Champion increased by 9.79 per cent to close at N4.71 per share.

Similarly, Eterna soared by 9.46 per cent, closing at N48.00 per share.

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On the losers’ chart, Livestock Feeds declined by 9. 71 per cent, settling at N7.22 while Multiverse Mining fell by 9.62 per cent, closing at N7.05 per share.

McNichols Plc dropped by 9.47 per cent to close at N1.72 and Omatek lost by 9.23 per cent, closing at 59k per share.

Also, MTN Nigeria shed by 6.07 per cent to finish at N240.00 per share. (NAN)

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CAC Gives Unregistered Businesses 6 Weeks to Register or Face Prosecution

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The Corporate Affairs Commission (CAC) has directed companies, limited liability partnerships, and business owners operating under unregistered business names to register within six weeks.

In a statement on Tuesday, the CAC warned that failure to register will result in enforcement action, including prosecution.

“The commission wishes to inform the general public that its a criminal offence under Section 863 of the Companies and Allied Matters Act, 2020 to carry on business in Nigeria as a Company, Limited Liability Partnership, Limited Partnership or under a Business Name without registration under the Act or by a name (or acronym) other than the name (or acronym) by which the business was registered under the Act,” the statement reads.

“The General Public should note that Section 729 of the Act requires every Company registered under the Act to state its name as registered and its registration number outside every place where it carries on business.

“In addition, the Company is required to state its registered name and registration number on all its official publications, including its letterhead, signage(s), marketing and publicity materials.

“In particular, the General Public should note the provisions of Section 862 (1) of the Act which provides that any person who, in any document required by, or for the purpose of any of the provisions of the Act (including the aforementioned official publications of a Company), makes a statement which is false in any material particular knowing it to be false, commits an offence and is liable on conviction to imprisonment for a term of two years in addition to a daily fine against the Company for every day during which the offence continues.

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“In view of the foregoing, every Company, Limited Liability Partnership, Limited Partnership and Business Name proprietor(s) is hereby required to ensure full compliance with the above requirements of the Act within six (6) weeks of this notice failing which the Commission shall take all necessary steps (including prosecution) to enforce compliance.”

In April 2024, Mahmud Bello, the commission’s registrar-general, said business owners in Nigeria can conveniently register their businesses online within 48 hours.

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