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All commercial banks are now integrated for Form ‘M’ openings — Customs

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By Godwin Oritse

In a move to advance Nigeria’s trade facilitation, Comptroller-General of the Nigeria Customs Service, NCS, Mr. Adewale Adeniyi, has announced the full integration of all commercial banks for Form ‘M’ openings.

This development coincides with the deployment of the indigenous “B’Odogwu” trade facilitation tool at Lagos’ Apapa and Tin Can Island ports, following a successful pilot phase at the PTML Command earlier in 2024.

The integration of commercial banks into the B’Odogwu system marks a pivotal step in modernizing Nigeria’s customs operations. This collaboration aims to streamline trade documentation processes, enhance revenue collection, and improve overall efficiency in trade-related transactions.

Adeniyi reiterated the importance of this integration, adding that the Central Bank of Nigeria (CBN) has instructed all authorized dealer banks to align with the B’Odogwu platform, thereby facilitating seamless Form ‘M’ openings for traders.

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The B’Odogwu system, developed by the NCS to replace the previous Nigerian Integrated Customs Information System (NICIS) II, is designed to modernize customs operations, improve efficiency in trade documentation, and enhance revenue collection.

The successful integration of commercial banks into this system is expected to significantly boost Nigeria’s trade processes and position the country at the forefront of global customs operations.

In a related development, the Nigeria Customs Service (NCS) has commenced expansion of the deployment of the “B’Odogwu” trade facilitation tool to Apapa and Tin Can Island ports in Lagos. Comptroller-General of NCS Mr. Adewale Adeniyi confirmed the rollout, building on the success of its initial implementation at the PTML Command earlier in 2024.

Adeniyi said that the strategic timing of the deployment was apt adding that the initiative will not only facilitate trade it would help the agency to block revenue loopholes. According to him, the timing is strategic because it aligns with the customs transformative agenda in collaboration with its stakeholders.

The Customs boss stated that the initiative is also an evolution of a new system, noting the termination of a long-standing contract with a service provider and the subsequent engagement of a new company, TMP Limited to develop a new, homegrown system.

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“The new company took into account the history of frustration we have had with NICIS, so we decided to start over to develop a new system that would address all the delays and frustration of the past. So we came up with B’Odogwu, which is homegrown,” Adeniyi said.

He clarified that “B’Odogwu” is an African, Nigerian term, with “B” standing for “Border” and “Odogwu” signifying strength and leadership.

Apapa Area Controller, Comptroller Babatunde Olomu, in his earlier remarks, affirmed the command’s readiness for the next phase of customs modernization adding that as the premier port, the Command is ready for the next level of the customs modernization agenda.

He explained that the service has carried out extensive training of officers and stakeholders, noting the positive testimonials received. “Nigeria Customs under Adeniyi is the fastest developing customs administration in Africa,” he added.

The post All commercial banks are now integrated for Form ‘M’ openings — Customs appeared first on Vanguard News.

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What we discovered in drug markets can destroy a nation – NAFDAC boss

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The National Agency for Food and Drug Administration and Control (NAFDAC) says its discoveries at the three open drug markets could destroy the lives of millions of Nigerians.

Its Director-General, Prof. Mojisola Adeyeye, disclosed this during a news conference in Lagos on Friday.

The News Agency of Nigeria (NAN) reports that NAFDAC started enforcement operations at the Idumota Open Drug Market, Ariaria Drug Market in Aba and Bridge Market in Onitsha on Feb. 10.

Adeyeye said that 100 40-feet truckloads of fake, banned, unregistered drugs and narcotics were evacuated from the markets.

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According to her, the enforcement operations at the markets, which serve as distribution hubs of over 80 per cent of medications, will rid the country of falsified and unregistered drugs.

Adeyeye said, “What we found during our enforcement operations in Idumota, Aba and Onitsha open drug markets can ruin a nation and reduce the quality of life of Nigerians.

“If a patient with diabetes or hypertension takes some of the drugs we evacuated, such a person or people can die easily with what we found.

“In Onitsha and Aba, we evacuated close to 80 40-feet truckloads of drugs from the markets and various warehouses where drugs were stored without windows.

“We discovered 12 truckloads of tramadol and four truckloads of codeine syrups that were banned for treatment some years ago in the plumbing line, fashion line and wood section in the market.

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“We have already destroyed 27 40-feet truckloads of drugs we evacuated from Idumota market.”

She said the agency would not relent in its efforts to checkmate market activities until they relocated to a coordinated wholesale centre.

Adeyeye said the enforcement operations at Idumota and Aba markets concluded on Feb. 28, while the exercise ended on March 5 in Onitsha.


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Nollywood actress Chika Ike shows off post-baby body

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Nollywood actress, Chika Ike, has shown off her post-body weeks after giving birth to her daughter.  The filmmaker announced the birth of her first child on March 6, 2025. Taking to her Instagram page on Friday, she shared photos of herself and her baby, all bundled up in from a snowy location.  Doctors appointment on a snowy day! Thanks sweethearts for all the congratulatory messages. Love you and God bless, she captioned the post.  b1 1741962902b2 1741962921b3 1741962942b4 1741963190b5 1741963213 The post Nollywood actress Chika Ike shows off post-baby body appeared first on Linda Ikeji Blog.


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Gold tops $3,000 for first time on Trump tariff threats

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Evaluating Gold ETFs vs Physical Gold Trading in Nigerias Economy

Gold surpassed $3,000 for the first time Friday as US President Donald Trump’s trade wars boost the safe-haven asset, while stock markets bounced on hopes US lawmakers will avert a government shutdown.

US shares rose in early deals after slumping in recent sessions while Asian equities ended the week on a positive note.

European stock markets were also given a lift in afternoon deals after Germany moved closed to approving a massive infrastructure and defence spending programme.

In Washington, with just hours until a deadline to push a Republican spending bill through, Senate Democratic leader Chuck Schumer dropped his threat to block it.

The package would keep government operating through September, but Democrats have come under pressure from their grassroots to defy the plan, which they say is full of harmful spending cuts.

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Stocks gained support from “a burgeoning sense that a government shutdown will be averted after Senator Schumer said he will vote for House-passed continuing resolution,” said Patrick O’Hare, analyst at Briefing.com.

O’Hare said stocks were also getting a boost from speculation China will announce more stimulus measures, and from reports that meetings between Canadian and US officials may have made some progress towards easing trade tensions.

London’s FTSE 100 index rose as the pound dropped against the dollar, after data showed the UK economy unexpectedly shrank in January.

In the eurozone, Paris and Frankfurt both rebounded after losses the previous day on US tariff threats.

Germany’s likely next chancellor Friedrich Merz said his conservatives had struck a deal with the Greens on massively boosting defence and infrastructure spending, paving the way for the plan’s approval in parliament.


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– Times of uncertainty –

Gold, a safe haven in times of uncertainty, rose as much as $3,004 an ounce before paring back gains later in the day to trade under $3,000.

The precious metal was “boosted on increased haven demand amid trade war risks and recent stock market volatility”, said Fawad Razaqzada, analyst at City Index and Forex.com.

In the latest salvo, Trump threatened to impose 200 percent tariffs on wine, champagne and other alcoholic beverages from European Union countries.

His threat came after the bloc’s planned levies on American-made whiskey and other products in retaliation to US levies on steel and aluminium.

Trump said he would not row back on the metals duties, nor plans for sweeping tariffs on countries worldwide due to kick on April 2.

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Wall Street has been hammered in recent sessions by trade tensions, with the S&P 500 slipping into a correction Thursday, having fallen more than 10 percent from its recent peak — a record high touched just last month.

In company news, shares in Gucci-owner Kering slumped more than 11 percent in Paris as the group appointed a new creative director to helm its struggling flagship brand.

Shares in BMW were in the red as the Germany automaker warned that trade tensions between the United States, Europe and China would cost the company $1 billion this year.

Major conglomerate CK Hutchison Holdings — owned by tycoon Li Ka-shing — tumbled in Hong Kong after Chinese officials in the city reposted an newspaper opinion piece attacking the firm over its sale of a controlling stake in Panama ports under pressure from Trump.

It had surged as much as 25 percent after the sale last week.

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– Key figures around 1340 GMT –

New York – Dow: Up 0.6 percent at 41,037.37 points

New York – S&P 500: UP 1.1 percent at 5584.42

New York – Nasdaq Composite: UP 1.8 percent at 17,611.92

London – FTSE 100: UP 0.5 percent at 8,583.13 points

Paris – CAC 40: UP 0.9 percent at 8,012.07

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Frankfurt – DAX: UP 1.6 percent at 22,940.17

Tokyo – Nikkei 225: UP 0.7 percent at 37,053.10 (close)

Hong Kong – Hang Seng Index: UP 2.1 percent at 23,959.98 (close)

Shanghai – Composite: UP 1.8 percent at 3,419.56 (close)

Euro/dollar: UP at $1.0893 from $1.0849 on Thursday

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Pound/dollar: DOWN at $1.2939 from $1.2948

Dollar/yen: UP at 148.57 yen from 147.75 yen

Euro/pound: UP at 85.40 pence from 83.75 pence

Brent North Sea Crude: UP 0.3 percent at $70.14 per barrel

West Texas Intermediate: UP 0.3 percent at $66.81 per barrel

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The post Gold tops $3,000 for first time on Trump tariff threats appeared first on Vanguard News.


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