RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Nigeria Customs Service Generates N230bn in 2024

Victoria Attah by Victoria Attah
May 26, 2025
in Economy
Reading Time: 2 mins read
A A
0
Nigerian Customs Deactivate Two Banks Over Failure to Remit Duties.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Nigeria Customs Service (NCS), Ports & Terminal Multiservices Limited (PTML) Command, has reported a remarkable revenue collection of N230 billion since the launch of its Unified Customs Management System, B’Odogwu, in October 2024. This milestone was announced by the Customs Area Controller, Tenny Daniyan, during a courtesy visit by the Shipping Correspondents Association of Nigeria (SCAN) on May 25, 2025.

Daniyan praised B’Odogwu as a transformative, locally developed digital platform that has revolutionized customs operations. “B’Odogwu is working, and it’s working for us. We have realized over N230 billion so far on the platform,” he stated, emphasizing its efficiency and robustness compared to the previous Nigeria Integrated Customs Information System (NICIS). He noted that the system incorporates advanced features, including artificial intelligence, to enhance classification accuracy and security, setting it apart from its predecessor.

AlsoRead

Oil Prices Surge Past $100/Barrel for First Time Since 2022 as Iran Conflict Escalates

Naira Slips to N1,398/$ on Friday, Marking Weakest Close Since Late January

Pension Assets Hit N28.03trn in January as 400,000 New Contributors Join

Despite initial challenges during the pilot phase at PTML, Daniyan reported that over 90% of these issues have been resolved, positioning the command as a model for other NCS units as the platform rolls out nationwide. The system’s success is attributed to its paperless, efficient, and secure design, which aligns with global trade standards and prepares the NCS for integration with the upcoming National Single Window initiative.

Daniyan commended Comptroller-General Adewale Adeniyi for spearheading B’Odogwu, describing it as a source of national pride that saves billions in potential capital flight previously associated with NICIS. “The NCS is not only raising revenue for Nigeria but also saving money,” he said. He urged traders and agents to ensure compliance and accurate declarations to benefit from seamless cargo clearance, with the command aiming to achieve a one-hour clearance time for compliant consignments.

The SCAN President, Moses Ebosele, lauded Daniyan’s leadership, highlighting his open-door policy and the strong relationship between the PTML Command and the media. He also praised the command’s achievements in revenue generation and stakeholder capacity building, underscoring B’Odogwu’s role in these successes.

The platform’s impact extends beyond revenue, supporting trade facilitation and modernization efforts, with PTML setting a record for the fastest cargo clearance time of two hours for compliant roll-on/roll-off consignments. As B’Odogwu’s deployment expands, the NCS is poised to further enhance Nigeria’s trade efficiency and economic growth.

Tags: Custom
Previous Post

Nigeria’s Letters of Credit Payments Climb to $267.96 Million in 2025, CBN Reports

Next Post

Tinubu’s Mining Reforms Attract $800 Million.

Related News

Angola Surpasses Nigeria, Becomes Africa’s Largest Oil Producer in August

Oil Prices Surge Past $100/Barrel for First Time Since 2022 as Iran Conflict Escalates

by Akpan Edidong
March 9, 2026
0

Crude oil prices rocketed above $100 per barrel on Sunday evening and into Monday, marking the first breach of that...

Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

Naira Slips to N1,398/$ on Friday, Marking Weakest Close Since Late January

by Stephen Akudike
March 9, 2026
0

The Nigerian naira extended its recent downward drift, closing the trading week at N1,398 per US dollar in the official...

Pension Assets Hit N28.03trn in January as 400,000 New Contributors Join

by Jide Omodele
March 9, 2026
0

Nigeria's pension industry launched 2026 on a strong footing, with total assets under management surging by N580 billion in January...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX All-Share Index Climbs 2.14% WoW to 196,968 Amid Oil Price Surge

by Stephen Akudike
March 9, 2026
0

The Nigerian Exchange (NGX) wrapped up last week on a positive note, with the benchmark All-Share Index (ASI) advancing 2.14%...

Next Post
Top Story: Tinubu Present N27.5 Trillion As 2024 Budget

Tinubu’s Mining Reforms Attract $800 Million.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Angola Surpasses Nigeria, Becomes Africa’s Largest Oil Producer in August

Oil Prices Surge Past $100/Barrel for First Time Since 2022 as Iran Conflict Escalates

March 9, 2026
Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

Naira Slips to N1,398/$ on Friday, Marking Weakest Close Since Late January

March 9, 2026

Popular Story

  • Angola Surpasses Nigeria, Becomes Africa’s Largest Oil Producer in August

    Oil Prices Surge Past $100/Barrel for First Time Since 2022 as Iran Conflict Escalates

    0 shares
    Share 0 Tweet 0
  • Pension Assets Hit N28.03trn in January as 400,000 New Contributors Join

    0 shares
    Share 0 Tweet 0
  • NGX All-Share Index Climbs 2.14% WoW to 196,968 Amid Oil Price Surge

    0 shares
    Share 0 Tweet 0
  • Naira Slips to N1,398/$ on Friday, Marking Weakest Close Since Late January

    0 shares
    Share 0 Tweet 0
  • CBN set to issue guidelines to regulate FinTechs

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>