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

Nigeria Posts N5.17 Trillion Trade Surplus in Q1 2025

Private Sector Demands Refinery Privatization After $2.4bn Repair Failure

Finance Ministry Denies Collapse of $5 Billion Oil-Backed Loan Deal

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

States and Local Governments Witness a 27.62% Increase in Revenue Amid Economic Hardship.

Nigeria Posts N5.17 Trillion Trade Surplus in Q1 2025

by Rate Captain
June 12, 2025
0

Nigeria recorded a significant trade surplus of N5.17 trillion in the first quarter of 2025 (Q1’25), marking a 52% increase...

NMDPRA inaugurates oil and gas industry service permit portal.

Private Sector Demands Refinery Privatization After $2.4bn Repair Failure

by Akpan Edidong
June 12, 2025
0

The Organised Private Sector (OPS) and oil marketers have called for the immediate privatization of Nigeria’s state-owned refineries following the...

Crude Oil Prices Soar as Global Supply Shortage Intensifies.

Finance Ministry Denies Collapse of $5 Billion Oil-Backed Loan Deal

by Akpan Edidong
June 12, 2025
0

The Federal Ministry of Finance has dismissed reports claiming the collapse of a proposed $5 billion crude oil-backed loan involving...

CBEX Promoters Seek Bail in Alleged $1 Billion Crypto Scam Case

by Victoria Attah
June 12, 2025
0

Three promoters of the collapsed Crypto Bridge Exchange (CBEX), implicated in an alleged $1 billion fraudulent cryptocurrency scheme, have requested...

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

Federal Court Denies Access Bank’s Bid to Freeze MTN Accounts Over ₦180 Billion Dispute

June 13, 2025
Dangote Sugar appoints Yabawa Lawan as Non-Executive Director.

Arnold Ekpe Appointed Chairman of Dangote Sugar Refinery

June 13, 2025

Popular Story

  • BlackRock Joins Blockchain Platform Axoni for Equity Swap Trades

    0 shares
    Share 0 Tweet 0
  • Shocking: “Undress” An AI Tool That Unveils Digital Representations of Individuals Without Clothing

    0 shares
    Share 0 Tweet 0
  • CBN Unveils Code of Corporate Governance for Microfinance Banks in Nigeria

    0 shares
    Share 0 Tweet 0
  • The Fate of Bureau De Change Companies in Nigeria Following Exchange Rate Unification.

    0 shares
    Share 0 Tweet 0
  • African Currency Outlook: Shilling and Kwacha Face Pressure, Naira Mixed Signals

    0 shares
    Share 0 Tweet 0
RateCaptain

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}
?>