NDIC, EFCC STRENGTHENS COLLABORATION FOR ASSET RECOVERY, PROSECUTION OF BANK FAILURE OFFENCES

NDIC, EFCC STRENGTHENS  COLLABORATION FOR ASSET RECOVERY,  PROSECUTION OF BANK FAILURE OFFENCES

caption: MD, NDIC Mr. Thompson Oludare Sunday, Executive Chairman of the EFCC, Mr. Olanipekun Olukoyede,

Bisi Akingbade 

The Managing Director and Chief Executive of the NDIC, Mr. Thompson Oludare Sunday, has reaffirmed NDIC commitments to strengthened corporation with the  Economic and Financial Crimes Commission, EFCC to enhance the recovery of failed banks’ assets and debts as well as the investigation and prosecution of persons who contribute to the failure of banks.

Mr. Sunday made this known during a courtesy visit by the Management of the Corporation to the Executive Chairman of the EFCC, Mr. Olanipekun Olukoyede, at the Commission’s Headquarters in Abuja. The delegation included the Executive Director, Corporate Services, Mrs. Emily Osuji, the Executive Director, Operations, Dr. Kabir Katata, as well as other key Directors of the Corporation.

He explained that effective collaboration with the EFCC is critical to the successful liquidation of failed banks, which involves asset realisation and debt recovery, the proceeds of which are applied to the payment of uninsured deposits. He noted that addressing cases of asset stripping and concealment of assets requires close partnership with the EFCC through enhanced asset tracing, recovery and enforcement actions. He also identified areas of collaboration in the Corporation’s efforts in addressing banking fraud and financial crimes in the banking system and the prosecution of individuals who contribute towards bank failure.

He emphasised that, through the effective implementation of its four core mandates of Deposit Guarantee, Bank Supervision, Distress Resolution and Bank Liquidation, the NDIC contributes significantly to ensuring the stability of the financial system. He added that the ultimate objective of the Corporation is the protection of depositors’ funds, prompt payment of depositors in the event of bank failure and strengthening public confidence in the financial system. Noting that the NDIC and the EFCC share core values of integrity, professionalism and collaboration, he described the visit as a formal engagement towards strengthening institutional partnership, particularly in areas where EFCC’s investigative and prosecutorial capabilities are crucial to the achievement of NDIC’s mandates.

In his response, the Executive Chairman of the EFCC, Mr. Olanipekun Olukoyede, reaffirmed the Commission’s strong working relationship with the NDIC in addressing financial crimes in the banking sector. He acknowledged the longstanding cooperation between both institutions, especially in investigations and capacity building on the intricacies of banking operations.

Mr. Olukoyede informed the delegation about key departments within the Commission, including the Bank Fraud Section, which handles NDIC-related cases. He urged the Corporation to bring forward any pending cases for prompt review to ensure better traction and effective monitoring of progress.

He also highlighted the role of the EFCC’s Fraud Risk Assessment and Control Department, which focuses on proactive monitoring of compliance, promotion of sound risk management processes, and internal controls within public and private sector 

institutions. 

He described this as part of the EFCC’s broader efforts to support and safeguard the Nigerian economy.

The EFCC Chairman pledged the Commission’s continued commitment to deepening collaboration and strengthening synergy with the NDIC in combating financial crimes, enhancing asset recovery, and prosecuting those whose actions undermine the stability and integrity of Nigeria’s banking sector.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

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SIFAX Marine Targets Asset-Led Growth in 2026

SIFAX Marine Targets Asset-Led Growth in 2026

Executive Director of SIFAX Marine, Afolabi Olayinka, 

…Positions for Stronger Participation in the Oil and Gas Market

SIFAX Marine Services Limited has announced a far-reaching expansion strategy for 2026 aimed at driving asset-led growth and repositioning the company as a stronger contender in Nigeria’s offshore and oil and gas marine services market.

According to Afolabi Olayinka, Executive Director of SIFAX Marine, the plan marks a decisive shift from revenue growth driven mainly by rate increases to a more sustainable and scalable model built on vessel ownership and fleet expansion.

He said: “Our experience over the past year has made one thing very clear, sustainable and exponential growth will only come from deliberate investment in marine assets that we own and control. While rate adjustments supported revenue performance in the last financial year, the future of SIFAX Marine lies in building a strong owned fleet that gives us capacity, resilience, and long-term competitive advantage.”

To translate this vision into action, SIFAX Marine plans to acquire additional sea-going barges, creek vessels, and offshore support vessels. These assets are expected to significantly boost operational capacity, deepen market reach, and unlock higher-value contracts, particularly within the oil and gas sector.

By expanding its owned fleet, SIFAX Marine aims to retain more value within the business while offering clients greater consistency, responsiveness, and certainty in service delivery.

A central pillar of the 2026 strategy is increased participation in oil and gas projects. The company plans to acquire vessel types required for higher regulatory categorization, enabling it to access more opportunities on industry tender platforms and improve its prequalification prospects with major operators.

“Asset expansion is not just about growth, it is about readiness,” Olayinka explained. “Our focus is to ensure that SIFAX Marine is properly equipped to respond swiftly to market demand, especially in offshore support and oil and gas marine services where capacity, compliance, and reliability are critical.”

This regulatory readiness drive is expected to position the company for technically demanding and higher-margin offshore contracts that have traditionally been out of reach for operators without sufficient owned assets and compliance credentials.

Beyond vessel acquisition, SIFAX Marine is also exploring strategic partnerships and joint ventures to accelerate market entry and scale operations faster. In addition, the company is considering expansion into vessel management and other complementary services that support offshore operations, further strengthening its value proposition as a full-spectrum marine services provider.

About SIFAX Marine Services Limited

SIFAX Marine Services Limited is a leading provider of marine logistics and offshore support services in Nigeria, serving ports, terminals, and oil and gas operations across the country’s coastal and inland waterways.

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Oyo/Osun Command Seizes Contrabands worth N2.7 billion, Generates N8.3billion Revenue

Oyo/Osun Command Seizes Contrabands worth N2.7 billion, Generates N8.3billion Revenue 

Bisi Akingbade 

The Customs Area Controller, Oyo/Osun , Comptroller Wale Moses Adewole, has disclosed  a significant seizure with the sun of ₦2,701,762,558.00k made within the period under review and generated ₦8,374,471,941.10k as revenue in December 2025

He made this disclosure during his maiden  press briefing at the command 

His word: "I warmly welcome you to my first press briefing of the year 2026 as the Acting Customs Area Controller of the Oyo/Osun Area Command. 

"Within the period under review, the Oyo/Osun Area Command recorded notable operational successes in line with the Service’s mandate of revenue generation, suppression of smuggling, and protection of the national economy.

"Within one month of my assumption as the acting-controller, the Command made significant seizures with a cumulative Duty Paid Value (DPV) of Two Billion, Seven Hundred and One Million, Seven hundred and Sixty-Two Thousand, Five Hundred and Fifty-Eight Naira Only (₦2,701,762,558.00k); 

The  seized items are highlighted as follows:

Foreign Parboiled Rice

2,234 (50kg) Bags

₦385,210,215.00k, Used Tyres

1,112 Pieces, ₦256,392,990.00k, Premium Motor Spirit

562 (25Litre) Kegs ₦33,683,119.00k, 

Used Clothes 124 Bales ₦782,444,250.00k, Cannabis Sativa (Indian Hemp) 37 Wraps ₦4,256,156.00k

Codeine Syrup

15 Pieces ₦432,169.00, Tramadol

10 Packs (250MG) ₦17,286,750.00k

Used Shoes 42 Sacks ₦424,507,242.00k

Others includes Foreign Spaghetti 110 Cartons ₦8,549,888.00k, Used Compressors 150 Pieces ₦15,000,000k

Pharmaceuticals 107 Cartons ₦119,180,250.00k TOKUNBO: Toyota 1 ₦95,862,375.00k Camry 1 ₦59,590,125.00k, Hyundai Sonata

1₦95,862,375.00k, Hyundai Jeep 1₦47,931,188.00k, Chevrolet EQ, Mercedes GLE 1 ₦103,635,000.00k

MEANS OF CONVEYANCE:₦69,018,750.00k

Volvo Truck 1 ₦42,673,275.00k

Volkswagen Bus  J5 3 ₦140,246,441.00k with total amount ₦2,701,762,558.00k

He said these items were intercepted at various flashpoints across the Command’s Area of Responsibility through credible intelligence, sustained patrols, and strategic enforcement operations.

In the area of revenue generation, the command collected the total amount  of ₦8,374,471,941.10k (Eight Billion, Three Hundred and Seventy-Four Million, Four Hundred and Seventy-One Thousand, Nine Hundred and Forty-One Naira, Ten Kobo) for the month of December 2025. 

However, it is worthy of note that the Command’s surpassed the Revenue target of the year 2025; ₦86,297,581,081.00k (Eighty-Six Billion, Two Hundred and Ninety-Seven Million, Five Hundred and Eighty-One Thousand, Eighty-One Naira Only) with a Revenue Target Surplus of ₦13,135, 424, 793.29k (Thirteen Billion, One Hundred and Thirty-Five Million, Four Hundred and Twenty-Four Thousand, Seven Hundred and Ninety-Three Naira, Twenty-Nine Kobo) resulting to a 15.22% increase in the year 2025 revenue target. This reflects on improved compliance, effective monitoring, and the commitment of officers to lawful trade facilitation.

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Nigeria Customs to facilitate temporary importation of Military Equipment @ Africa’s First Defence and Security Exhibition

Nigeria Customs to facilitate temporary importation of Military Equipment @  

Africa’s First Defence and Security Exhibition

Bisi Akingbade 

Nigeria Customs Service, NCS, has reaffirmed its strong institutional support for Africa’s first-ever comprehensive Defence and Security Exhibition, scheduled to be hosted by Nigeria in 2026, in what is expected to be a landmark event positioning the country as a continental hub for defence innovation, security collaboration, and industrial advancement.

The exhibition, tagged Africa International Defence and Security Exhibition, AFRIDECS, was unveiled during a courtesy visit by the AFRIDECS Steering Committee to the Nigeria Customs Service Headquarters in Abuja on Tuesday, 21 January 2026.

The delegation was led by the Director-General of the Defence Industries Corporation of Nigeria, DICON, Major General Babatunde Alaya, who disclosed that the 2026 exhibition would convene military institutions, security agencies, government ministries, defence manufacturers and international partners from across the globe.

Major General Alaya explained that AFRIDECS is designed to showcase Nigeria’s indigenous defence manufacturing capacity and technological innovation across land, sea, air, cyber and space domains, while also providing a global platform for the exchange of cutting-edge security solutions.

“AFRIDECS is conceived to showcase indigenous capabilities and manufacturing, while leveraging the expertise and experience of international defence manufacturers. It will serve as a convergence point for defence, security and technology stakeholders to exchange ideas and innovations,” he stated.

He added that the exhibition is strategically positioned to become Africa’s premier defence and security showcase, reflecting Nigeria’s growing influence in defence industrialisation, regional security cooperation and strategic innovation.

According to him, a multi-agency Steering Committee constituted by Defence Headquarters is overseeing the planning and execution of the event.

Representing the Comptroller-General of Customs (CGC), Adawale Adeniyi, Deputy Comptroller-General of Customs (DCG), Dera Nnadi reaffirmed the Nigeria Customs Service’s readiness to play a critical facilitative and regulatory role in ensuring the success of the exhibition.

DCG Nnadi describes AFRIDECS not only as a security-driven initiative but also as a significant economic, cultural, and diplomatic opportunity for Nigeria.

“This is beyond the security implications. For us in the Nigeria Customs Service, it is an economic opportunity, a cultural gain and a platform to project the best of Nigeria to the international community. Customs will play its role in facilitating legitimate trade while ensuring strict regulatory compliance,” he said.

He assured the Steering Committee of the Service’s commitment to providing seamless Customs processes, particularly in the temporary importation of exhibition equipment, to guarantee ease of entry and exit without compromising national security standards. 

Also speaking, Deputy Comptroller-General of Customs Timi Bomodi, in charge of Enforcement, Inspection and Investigation, commended DICON for initiating what he described as a bold and strategic exhibition with far-reaching implications for national security and economic development.

DCG Bomodi noted that while the Nigeria Customs Service has extensive experience in handling international exhibitions, AFRIDECS is particularly unique due to the sensitive nature of the items involved, which will primarily consist of military hardware and defence equipment.

He explained that Customs would adopt simplified, transparent temporary importation procedures, provided that all regulatory requirements are met. He stressed the importance of advance notification, detailed documentation and the submission of End User Certificates to ensure proper control, accountability and compliance with national and international regulations.

The Africa International Defence and Security Exhibition, the first of its kind on the continent, is expected to further strengthen Nigeria’s image as a leader in defence innovation, deepen international cooperation, unlock economic opportunities, and reinforce the country’s national security architecture, with the Nigeria Customs Service positioned as a key enabler of its success.

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Post-Clearance Audit: WCO, WBG Trains Customs on WCO Accelerate Trade Facilitation Programme

Post-Clearance Audit: WCO, WBG Trains Customs on  WCO Accelerate Trade Facilitation Programme 

Bisi Akingbade 

The Nigeria Customs Service, NCS, in collaboration with the World Customs Organisation, WCO, and the World Bank Group, WBG, on Monday, 19 January 2026, commenced the WCO Accelerate Trade Facilitation Programme as part of ongoing efforts to strengthen trade facilitation, enhance compliance, and deepen customs modernisation in Nigeria.

The programme is designed to review previously agreed objectives and confirm the strategic approach for implementing key reform initiatives, particularly in the area of Post-Clearance Audit (PCA). The mission provides a platform for assessing progress made so far, while identifying practical steps for improving efficiency, transparency, and risk-based compliance management across customs operations.

Speaking at the opening session, the Deputy Comptroller-General of Customs, Kikelomo Adeola, who represented the Comptroller-General of Customs, Adewale Adeniyi, emphasised that Post-Clearance Audit remains a critical pillar of modern customs administration. She noted that an effective PCA framework supports informed risk management, strengthens voluntary compliance and facilitates legitimate trade without compromising revenue assurance.

“This mission underscores the strong partnership between the WCO and the Nigeria Customs Service. It reflects our shared commitment to strengthening PCA frameworks, enhancing officers’ technical competencies and institutionalising best practices that promote voluntary compliance while safeguarding revenue,” she remarked.

Quoting renowned author Brian Herbert, she added; "The capacity to learn is a gift, the ability to learn is a skill, but the willingness to learn is a choice. The Nigeria Customs Service has chosen to make PCA work in our country.”

Also addressing participants, James Clark, a Trade Facilitation Expert with the WCO, commended the NCS for the significant progress achieved within a short period. He observed that Nigeria’s trade facilitation reforms reflect a broader national commitment to improving the ease of doing business and aligning customs procedures with global best practices.

“The creation of the PCA Manual was an impressive piece of work. Beyond that, the steps taken to operationalise it and your commitment to building a world-class PCA programme within the NCS have been remarkable,” he said.

“It is not an easy task to achieve what you have done. There is still more work ahead, but the progress recorded so far has been truly commendable.”

In her remarks, the Deputy Comptroller-General of Customs in charge of Tariff and Trade, Caroline Niagwan, highlighted the deliberate steps taken by the Service in strengthening Post-Clearance Audit and risk management systems. According to her, these measures are aimed at enhancing compliance, improving revenue collection, facilitating legitimate trade, and safeguarding national economic interests.

Similarly, the Assistant Comptroller-General of Customs in charge of Post-Clearance Audit, Babatunde Olomu, described the week-long programme as timely and strategic. He noted that the engagement comes at a critical stage in the Service’s reform journey and will further strengthen institutional capacity in audit-driven compliance and trade facilitation.

The WCO Accelerate Trade Facilitation Programme, which runs from 19 to 23 January 2026, underscores the Nigeria Customs Service’s sustained commitment to collaboration with international partners in driving reforms that promote efficient trade, transparency, and economic growth.

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Oyetola Hosts Ambassador of Denmark, Woos Danish Investors to Nigeria’s Blue Economy Sector

Oyetola Hosts Ambassador of Denmark, Woos Danish Investors to Nigeria’s Blue Economy Sector

CAPTION
L-R: Permanent Secretary, Federal Ministry of Marine and Blue Economy, Mrs. Fatima Sugra Mahmood; Honourable Minister of Marine and Blue Economy, His Excellency Dr Adegboyega Oyetola, CON and the Ambassador of Denmark to Nigeria, Mr Jens Ole Bach Hansen, when the Danish Ambassador visited Minister Oyetola in his office in Abuja on Tuesday.

... Commends APM for strategic contribution to modernisation, Efficiency of Nigeria's Maritime infrastructure 

Bisi Akingbade 

The Honourable Minister of Marine and Blue Economy, His Excellency Dr Adegboyega Oyetola, CON, today, Tuesday 20th January 2026, hosted the Ambassador of Denmark to Nigeria, Mr Jens Ole Bach Hansen, in his office in Abuja, using the occasion to strongly court Danish investors to Nigeria’s fast-growing marine and blue economy sector.

Welcoming the Ambassador, Dr Oyetola described Denmark as a valued maritime partner and expressed Nigeria’s readiness to deepen bilateral cooperation in unlocking the enormous opportunities within the marine and blue economy. He assured Danish investors of a favourable investment climate, strong institutional support and promising returns in Nigeria’s maritime sector.

The Minister thanked the Government of Denmark for its support towards Nigeria’s election into Category C of the International Maritime Organization (IMO) Council in November 2025, noting that the achievement has further strengthened Nigeria’s standing in global maritime affairs. 

He also commended Danish investment in Nigeria’s port sector through APM Terminals, which operates in the Apapa and Onne Ports, describing it as a strategic contribution to the modernisation and efficiency of Nigeria’s maritime infrastructure.

In the press release issued by the Special Adviser to the Honourable Minister, Federal Ministry of Marine and Blue Economy, Dr. Bolaji Akinola highlighted that Dr. Oyetola briefed the Ambassador extensively on the Ministry’s ongoing reforms and initiatives aimed at harnessing Nigeria’s marine and blue economy potential. These include the development of a National Policy on Marine and Blue Economy, strengthened maritime security that has led to the elimination of piracy in Nigerian waters and a significant reduction of incidents in the Gulf of Guinea, port modernisation programmes, revitalisation of inland waterways, fisheries and aquaculture development, and conservation of marine biodiversity.

He noted that these initiatives are designed to drive sustainable economic growth, create employment, boost trade facilitation and position Nigeria as a leading maritime hub in Africa. The Minister reiterated his invitation to Danish investors to take advantage of these opportunities, assuring them of government’s commitment to protecting investments and ensuring long-term sectoral growth.

Speaking earlier, Ambassador Jens Ole Bach Hansen congratulated Nigeria on its election into Category C of the IMO Council, describing it as a recognition of Nigeria’s growing leadership in maritime affairs. He explained that membership of the IMO Council offers Nigeria a strategic platform to influence global maritime policy, contribute to international ocean governance, and participate in key decisions on maritime safety, security and environmental protection.

The Ambassador expressed confidence that Nigeria would bring its experience and regional influence to bear in advancing international maritime cooperation. 

He noted that Denmark and Nigeria share common interests in the marine and blue economy and expressed delight that APM Terminals has invested approximately USD 1.2 billion in Nigerian ports, with plans to make further investments to expand its operations.

He also highlighted Denmark’s global expertise in wind energy and green maritime technologies, stating that his country is open to sharing knowledge and experience with the Federal Ministry of Marine and Blue Economy in renewable energy and other sustainable maritime solutions. He affirmed Denmark’s readiness to explore broader collaboration with Nigeria in developing its marine and blue economy sector.

Both parties agreed to sustain engagement and work together to identify further areas of partnership, investment and technical cooperation in advancing Nigeria’s maritime and blue economy agenda.

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Comptroller Matawale Emphasises Discipline, Integrity, Professionalism @ Kebbi Area Command 1st 2026 Parade

Comptroller Matawale Emphasises Discipline, Integrity, Professionalism @ Kebbi Area Command 1st 2026 Parade 

Bisi Akingbade 

The Kebbi Area Command of the Nigeria Customs Service, NCS, has convened its first parade of the 2026 operational year, bringing together officers and men of the Command in a ceremony that combined solemn remembrance, renewed commitment to national duty and a comprehensive health screening for all personnel.

Comptroller Ibrahim MM MNIM, fdc extended New Year wishes to officers and their families, and paid tribute to fallen colleagues who lost their lives in service, offering prayers for their souls and comfort for their families.

In his address, he  expressed deep appreciation to the Comptroller General of Customs, Bashir Adewale Adeniyi MFR, PhD, Chairperson of the World Customs Organization, WCO, Council, for his visionary leadership, unwavering support, and dedication to the welfare of officers across the nation.

He noted that the CGC’s commitment to professionalism, innovation, and discipline continues to inspire the Service to new heights of excellence.

Comptroller Matawalle emphasized that the parade was more than a routine gathering, it was a moment of reflection, recommitment, and renewed dedication to the Service’s core mandate; securing Nigeria’s borders, protecting the national economy, preventing smuggling and economic sabotage and facilitating legitimate trade and revenue generation. He urged all officers to embody loyalty, vigilance, and excellence in their duties.

He charged officers to uphold the 7Cs of the Nigeria Customs Service Courtesy without loss of dignity, Clear questions, Careful examination, Clean hands in all respects, Command attention, Control situations, and Consult colleagues. These principles, he stressed, are essential guides for conduct at border posts, in the field, and within the Command.

Discipline was highlighted as the bedrock of the Service. The CAC made clear that negligence or any betrayal of trust would not be tolerated while dedication, loyalty, and excellence would be recognized and rewarded. He reminded officers that each is an ambassador of the NCS, and their conduct reflects on the Service’s reputation in both public and private life.

The Command is located  on critical international borders with Niger and Benin Republics, Kebbi Area Command plays a frontline role in combating smuggling and illegal trade.

Comptroller Matawalle expressed concern over prevailing security challenges within the border corridors and charged officers to remain vigilant, proactive, and security-conscious at all times. He emphasized the need for improved intelligence gathering, strict adherence to operational procedures, and strengthened collaboration with sister security agencies, host communities, and other stakeholders to effectively tackle insecurity.

The Command also reaffirmed its commitment to Corporate Social Responsibility, CSR, initiatives, including the construction of boreholes and the supply and installation of solar-powered street lights in border communities. These efforts aim to foster goodwill, improve living conditions, and enhance security in the region.

As part of the parade, a comprehensive health check was carried out for all officers, underscoring the Command’s commitment to the well-being of its personnel. Recognizing that _health is wealth_, the leadership prioritized this exercise to ensure that every officer is physically fit, mentally alert, and prepared to perform their duties with maximum effectiveness.

Comptroller Ibrahim noted that a healthy force is a strong force, capable of safeguarding borders, combating smuggling, and facilitating trade with vigor and precision. The initiative reinforces the Service’s dedication to maintaining a resilient, disciplined, and high-performing team.

The Kebbi Area Command reaffirmed its commitment to discipline, professionalism, and the 7Cs, standing united as a frontline force protecting Nigeria’s borders and economy. By prioritizing the health and readiness of its officers, and by engaging in meaningful community development, the Command ensures it remains prepared to fulfill the Nigeria Customs Service’s mission with excellence and honor, under the inspiring leadership of CGC Bashir Adewale Adeniyi MFR, PhD.

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