Headlines

Shipping companies jittery over higher freight costs due to carbon tax

The Global Shippers Forum (GSF), is a global business organization that represents cargo owners exporting and importing to international supply chains is jittery over a possible increase in freight cost as a result of the new carbon tax that will be discussed at this week’s meeting of the Marine Environment Protection Committee (MEPC) at the International Maritime Organisation (IMO).

It seems that it will increase freight costs for shippers beyond the already record levels.

After decades of efforts by the IMO to reach an agreement on the so-called IMO 2023, a set of energy efficiency measures for existing ships, which will take effect next year, MEPC will now consider a further proposal for the introduction of a carbon tax on bunker fuel.

Such a tax will be imposed as an incentive to switch to fuel options with lower carbon emissions and could eventually double the current price of traditional fuels.

GSF, in trying to mitigate the effects, urges regulators to ensure that the ability of shipping lines to remove older capacity from the market, which they consider uneconomical to upgrade to progressively more demanding levels of performance, is not used as a disguised means for capacity management resulting in higher freight rates.

James Hookham, GSF director said “Shippers will be forgiven for thinking that the proposal and its consideration at the IMO will inevitably result in still higher freight rates.

”That’s because the shipping industry has a very efficient mechanism for passing through higher fuel costs in the form of BAF; a surcharge to cover variations in fuel price. There are few reassurances in the existing proposals that a Carbon Tax won’t just be passed through as an added cost for shippers.”

Customs

Tinubu celebrates Adeniyi on his 59th birthday

–lists his achievements

Funso OLOJO

President Bola Ahmed Tinubu has joined millions of well wishers across the globe to celebrate Adewale Adeniyi, the Comptroller-General of Customs, Adewale Adeniyi as he turns 59 years on Sunday, January 19th, 2025.

In his birthday message made available through his Special Adviser on information and strategy, Bayo Onanuga, Tinubu lauded the innovative and inspiring leadership of Adeniyi which he noted has impacted greatly on the image and performance of the service.

While listing the achievements of the customs in terms of revenue generation, trade facilitation, automation and digitization of the service, anti- smuggling activities as well as bolstered staff morale under the dexterious guidance of Adeniyi, President Tinubu wished him divine wisdom, robust health, and continued strength as he serves the nation.

“Under his guidance, the agency has witnessed significant progress through the steady digitalisation and automation of its operations, a renewed commitment to professionalism, and an uplift in officers’ morale, enhancing high performance.

“His leadership has enabled the NCS to surpass revenue targets substantially and bolstered trade facilitation, yielding widespread positive effects on the national economy.

“President Tinubu applauds the innovative anti-smuggling strategies initiated by the Customs Chief.

“These strategies encompass equipping the youth with new skills for alternative livelihood opportunities, fostering engagements with traditional institutions, and nurturing a culture of effective communication and mutual respect.

“The President recognises the Comptroller-General’s other notable achievements, including the remarkable seizures of arms and ammunition and the revitalisation of the Comptroller-General’s Annual Conference, which aims to assess and enhance the agency’s operations.

“President Tinubu affirms that Adeniyi’s extensive experience of over 30 years in service and adaptability to change has greatly enriched the Customs Service.

“The President offers prayers for divine wisdom, robust health, and continued strength for Comptroller-General Adeniyi as he serves the nation.

Headlines

EFCC discovers Yahoo training school in Benin city

-arrests 25 students undergoing training in cybercrimes

Funso OLOJO

The operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, (EFCC) has on Thursday January 16th, 2025, uncovered a Yahoo academy in Benin city, Edo State, where young Nigerians are undergoing training in the act of internet fraud.

During the raid, the anti- graft agency arrested 25 suspected internet fraudsters in the cybercrimes training centre

The suspects’ arrest at their hideout was triggered by credible intelligence that indicated the apartment being used as a yahoo academy or training school for internet-related fraud and other fraudulent activities.

Items recovered from the suspects include six exotic cars, laptops and phones.

The suspects will be charged to court as soon as investigations are concluded.

Customs

Onyeka, Tin Can CAC, set to pursue revenue generation aggressively

— vows to surpass 1 trillion naira revenue record

Funso OLOJO

The Area Controller of the Tin Can island command of the Nigeria customs service, Comptroller Frank Onyeka, has set an ambitious goal of meeting and surpassing the one trillion naira revenue mark achieved last year by his predecessor, ACG Dera Nnadi.

It would be recalled that the command was given a revenue target of N1.4 trillion in 2024 while it realized a little about N1.226 trillion ,an unprecedented record that was never achieved in the history of the command.

Meanwhile, Comptroller Onyeka, has vowed to sustain the revenue momentum as he would aggressively pursue revenue collection.

Speaking while playing host to the Executive council of the Maritime Reporters Association of Nigeria(MARAN) which paid him a courtesy visit in his office on Friday, January 17th, 2025, the Customs chief disclosed his strategy to carry out his assignment.

According to him, he would facilitate legitimate trade, ensure 100 percent examination of all imports while he would energise his men and officers to key into his vision.

“I’ll facilitate trade, but it has to be legitimate trade. That’s what I feel I should do in the strict sense.

“You know, I’m coming from the aspect of revenue. So, it is my prayer and my hope to meet my target and surpass it.

“But principally, what I am going to fight is the ability to do this job without examination.

“I have appealed to my officers, whatever it is they have to do, let them see the containers, once we’ve examined them, everything should be on cruise control because if you examine, you’ll now know if it’s supposed to go out or not.

“I’ve involved Customs Intelligence Unit, CIU, I’ve involved Valuation Unit, I’ve spoken to all relevant Units and it’s my prayer, by the grace of God, that all of us will be on the same page to make sure that the renewed hope agenda of President Bola Ahmed Tinubu is brought to fruition” he noted.

He was full of gratitude to the Comptroller General of Customs, Bashir Adewale Adeniyi , for the confidence reposed in him and vowed never to disappoint him.

“I also appreciate the fact that our indefatigable Comptroller General Of Customs, CGC Bashir Adewale Adeniyi to whom I’m very grateful.

“He needs to be made to know that he didn’t make any mistake for him to have brought me here.

“I am very grateful to him and his management team, and I need to make him proud” he enthused.

Comptroller Onyeka also vowed to build on the foundation that has been laid by his predecessor, Assistant Comptroller General Dera Nnadi.

“In anti-smuggling, he did well. In revenue generation, he did superbly well, same goes for infrastructure development.

“His Public Relations was top-notch, which I’m going to leverage.

“He was fortunate to have what I consider a very fantastic rapport with the media because that’s his background. I intend to leverage that. I intend to do better in that aspect” he added.

Earlier, in his address, the President of MARAN, Mr Godfrey Bivbere expressed the willingness of the association to partner with the CAC and the Command to achieve the target ahead of the command.

He reiterated the firm resolution of the association to accord Comptroller Onyeka the same support accorded to his predecessor.