The Nigeria Customs Service has told journalists that the agency impounded some unregistered and fake drugs brought into the country through the seaport.
The Coordinator of the unit, Deputy Comptroller, Ahmadu Shuaibu, said the unit also recovered N426.4m on cargoes that were under-declared at the port.
He said, “Sequel to conscientious documentary checks, the ICT component of the team recovered the sum of N426.4m from demand notices raised within April till Tuesday. The money recovered from demand notices could have been lost to unscrupulous importers.”
Revealing the items seized, he said there were 575 bales of second-hand clothing, 1,440 cartons of supermarket goods, 664 cartons of drugs without NAFDAC number, 530 cartons of foot wears and 1,600 bags of foreign parboiled rice.
CBN warns banks over foreign exchange malpractices
The Central Bank of Nigeria, CBN, has insisted that the FX operating license of any bank or banks that are found guilty of ongoing investigations in foreign exchange malpractices would be suspended for at least a year.
The circular signed today by the Director Trade and Exchange Department, CBN, Ozoemena Nnaji stated: “In line with the continuing close surveillance of our financial markets in general and the FX market in particular, the CBN wishes to remind all banks that it is their responsibility to not only Know their Customers (KYC requirements) but also Know their customers’ business (KYCB requirements).
“Given these responsibilities and in view of recent occurrences in the market, the CBN would like to remind banks to desist from all and any forms of FX malpractices.
“We wish to reiterate that the FX operating license of any bank or banks that are found culpable with ongoing investigations would be suspended for at least one year. Please note and ensure compliance.”
Naira hits historic low of 543 against dollar
The naira has continued to depreciate on the parallel market, selling for N543 to the dollar on Thursday.
The bureau de change operators in Abuja bought dollar at N540, then it was sold for N543.
The British Pound was also sold for £1/N740.
This comes 44 days after the Central Bank of Nigeria barred sale of Forex to all bureau de change operators across the country.
On June 27, 2021, the CBN ended the sales of Forex to BDCs saying the parallel market had become a conduit for illicit Forex flows and graft.
The CBN said it would also no longer process applications for BDC licences in the country.