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Economy

AuGF Indicts NPA, Customs, 14 other MDAs over unremitted funds to consolidated accounts.

Eyewitness reporter

The Office of the Auditor-General of the Federation has indicted the Nigeria Port Authority (NPA), Nigeria Customs Service and 14 other Ministries, Departments and Agencies of Government (MDAs) over their failure to remit accrued revenue into the Federation accounts.

According to his 2019 audited report titled ‘OAuGF Annual Report on Non-Compliance/Internal Control Weakness Issues in Ministries, Departments and Agencies (MDAs) submitted to the National Assembly, the AuGf,   Mr Adolphus Aghughu , declared that the NPA, Nigeria Customs and other 24 Government agencies and parastatals committed these financial infractions in their 2019 financial transactions.
The NPA, in the report, was indicted over its failure to recover and remit N40.126 billion, $921.636 and £289,931.82 to the government’s treasury from various revenue sources in the 2019 financial fiscal year.
These were contained in 13 audit queries for the NPA signed by the Auditor-General and submitted to the National Assembly for further legislative action.

The report disclosed that an agreement signed between NPA and various terminal operators stated that, “a fixed annual payment of a sum as specified in the schedule be paid in 12 equal installments in each operating year.

 “The first installment to be paid on the first day of the month after the effective date and then, on the same date of every month thereafter.”
The report also stated that the terminal operators failed to comply with the lease agreements in terms of their obligations relating to the payment of fixed fees over the period, thereby holding back $852,093,730.77 and N1,878,560,509.57 that should have been remitted to the NPA for the period.

It stated further that estate tenants, shipping companies and service boats operating from the ports were hugely indebted to the NPA to the tune of $67.425 million and N32.266 billion outstanding as rent, shipping due and service boats.

The audit report further noted that sizeable percentages of the debts were non-performing or dormant due to a long period of non-settlement, leading to loss of revenue to the government and possible diversion of government revenue to unauthorised users.

The Audit report also queried the irregular payment for rehabilitation of Port Harcourt port road network and water distribution system to the tune of N1.847 billion, irregular payment for the restoration of power supply to Tin Can Island Port.

It frowned at the irregularity in the award of contract for the construction of delivery and commissioning of MDPE channel marking buoys in foreign currency, irregular payment for the supply for fire alarms communication and office equipment for Lagos port complex and irregular payment for the supply of fire alarms communication and office equipment for Ikorodu lighter terminal.

On Customs, the AuGF slammed the service for its failure to remit N125 billion into the Federation accounts.

But the NCS is not the only defaulting government establishment. There are about 14 others found culpable of similar allegations.

They are Anambra-Imo River Basin Development Authority (RBDA), Owerri; the Nigerian Institute for Oil Palm Research (NIFOR); Veterinary Council of Nigeria (VCN): Kwali Area Council; Lagos State University (LASU); National Orthopaedic Hospital, Enugu; three Federal Medical Centres (FMC) and Federal Neuropsychiatric Hospital.

Others are Council for Legal Studies and the National Industrial Court.

While the NCS allegedly failed to pay N125 billion Internally Generated Revenues (IGR) into the government coffers, the remaining 14 government establishments defaulted with N1.28 billion (N1,284,427,345.04).

The OAuGF also identified 12 MDAs, including the Nigerian Civil Aviation Authority (NCAA), which failed to remit value-added tax (VAT), the With-holding Tax (WHT), among others, to the treasury.

The unremitted taxes were pegged at N5.83billion (N5,828,621,715.06), and NACA reportedly has the highest unpaid sum, which is N2.98billion (N2,984,887,250.00).

“Federal College of Freshwater Fisheries Technology, New Bussa has the least amount of N1m.”

The offence is said to have breached paragraphs 234 (I) and 235 of the Financial Regulations Act respectively.

“It is mandatory for accounting officers to ensure full compliance with the dual roles of making provision for the VAT and WHT due on supply services contract and actual remittance,” Section 234 stated.

“Deduction of VAT, WHT and PAYE shall be remitted to the Federal Inland Revenue Service, at the same time, the payee who is the subject of the deduction is paid…”

Meanwhile, in a letter addressed to the Clerk of the National Assembly on September 15, 2021, Aghughu submitted two copies of the findings to the NASS for action.

With reference number AuGF/AR.2019/02, the Auditor-General said his action to the lawmakers was in line with Sections 85 (2), (4) and (5) of the constitution.

The lawmakers are, thus, expected to act on the federation’s annual report and the consolidated financial statements to prevent leakages in government spending.

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Business

National Single Window goes live in March, 2026 

– as FG launches phase 1 of the project for trade facilitation 
Funso OLOJO
The Federal Government of Nigeria has announced the commencement of Phase 1 of the National Single Window (NSW) Project, scheduled to launch on March 27, 2026.
The launch marks a decisive step toward reforming Nigeria’s trade ecosystem through technology, transparency, and smarter regulation.
The National Single Window is a centralised digital platform designed to simplify and harmonise trade procedures by enabling traders to submit trade-related information once,
through a single interface, while relevant government agencies access, process, and approve the required documentation seamlessly.
 The initiative is expected to significantly reduce delays, eliminate duplication, curb inefficiencies, and lower the cost of doing business at Nigeria’s ports and borders.
Speaking on the transformative potential of the project during the inauguration of the project on the 16th of April 2024, President Bola Ahmed Tinubu described the National Single Window as a cornerstone of Nigeria’s trade and economic reform agenda.
“The National Single Window will change the way trade is done in Nigeria. It will replace fragmentation with coordination, opacity with transparency, and delay with efficiency,” says Presidency.
The President added that the NSW aligns with the administration’s commitment to
economic diversification, non-oil export growth, and improved ease of doing business, noting that efficient trade systems are critical to national development.
Also speaking on the initiative, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described the National Single Window as a game-changer that will simplify and
democratize trade in Nigeria.
Dr. Oduwole explained that the platform will streamline trade documentation through a unified window, enabling greater transparency, improved transaction tracking, and
increased trade volumes.
 She added that experienced traders, in particular, would benefit from the efficiency gains offered by the system.
Providing insight into the implementation strategy, Mr. Tola Fakolade, Director of National Single Window Project, explained that the Federal Government has deliberately adopted a phased rollout approach, beginning with Phase 1, which will focus primarily on statutory permits and manifests.
“The National Single Window will be rolled out in phases, starting with Phase 1, which concentrates on statutory permits and cargo manifests,” Mr. Fakolade stated.
“This allows us to stabilise the system, build confidence among stakeholders, and deliver immediate value where bottlenecks are most pronounced.”
According to Mr. Fakolade, the decision to phase the launch reflects lessons learned from previous large-scale technology initiatives that adopted a “big bang” approach.
“We have learned from the flaws of past big bang technological rollouts, where attempting to do everything at once created avoidable disruptions,” he noted.
 “Phasing the National
Single Window is a deliberate and strategic choice—one that prioritises sustainability, user adoption, and continuous improvement over speed for speed’s sake.”
He further emphasized that subsequent phases will gradually expand the scope of the platform, onboard additional agencies, and deepen integration across the trade value chain, ensuring a resilient and scalable system.
“This approach ensures that the National Single Window grows with the ecosystem, guided by real data, user feedback, and operational realities,” Mr. Fakolade added.
As Phase 1 goes live, the Federal Government reaffirmed its commitment to working closely with the private sector, development partners, and trade stakeholders to ensure a smooth
transition and shared ownership of the reform.
“By simplifying trade processes and leveraging digital innovation, we are unlocking faster movement of goods, strengthening revenue assurance, and creating a more competitive
environment for Nigerian businesses to thrive locally and globally.” Mr. Fakolade added.
With the launch of the National Single Window, Nigeria takes a bold and pragmatic step towards modern trade governance—one that places efficiency, transparency, and learning at the heart of national progress.
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Economy

We haven’t stopped Customs, FIRS, NUPRC, others from deducting cost of revenue collection at source – FG

Funso OLOJO
The Federal government has debunked the widely- held insinuation that it has stopped the standard practice of revenue – generating agencies such as the Federal Inland Revenue Service (FIRS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigeria Customs Service (NCS) to deduct their cost of collection at source.
In a statement issued by the Federal Ministry of Finance and signed by Mohammed Manga, Director of  Information and Public Relations in the ministry, at no point did the Minister of Finance and the Coordinating Minister of Economy, Wale Edun, announced the discontinuation of such practice.
“We categorically state that these reports are inaccurate and misleading.
“At no point during his remarks at the Nigeria Development Update (NDU) programme hosted by the World Bank did the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announce or imply any change to the existing policy on the cost of collection deductions.
“For the avoidance of doubt, there has been no policy change regarding the deduction of costs of collection at source by revenue-generating agencies. The current framework remains in effect.
“What is underway are ongoing policy discussions in line with the directives of His Excellency, President Bola Ahmed Tinubu, to review cost of collection structure.
“These discussions are part of broader efforts to enhance transparency, efficiency, and value-for-money in public financial management.
“However, no final decision has been made on this matter.
“The Ministry assures all stakeholders and the public that revenue operations continue uninterrupted and that any future adjustments will be guided by due process, stakeholder engagement, and clear communication.
“We urge media organisations to seek clarification from official sources before publishing information that may cause unnecessary confusion.
“The Ministry appreciates the continued support of Nigerians as we work collectively to build a stronger, more transparent, and sustainable economy” the statement concluded
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Economy

Le Look Nigeria marks 40 years of ingenious local fabric branded bags on October 1st

Gloria Odion 
All is set to mark the 40 years anniversary of Le Look Nigeria Limited, makers of Le look Bags brands.
According to the founder and Chief Executive Officer(CEO), Chief Mrs. Chinwe Ezenwa, arrangements have been concluded to hold the event on October 1, 2025 at Federal Palace Hotel, Lagos.
The event with morning and award night sessions is themed: “Legacy of Resilience: Empowering Entrepreneurs for Africa’s Economic Future.”
Ezenwa added:”Le Look 40th Anniversary is a milestone that celebrates resilience, creativity, and the power of Nigerian enterprise.
“Founded in 1985, Le Look has grown from a small women-led business into a proudly Nigerian manufacturer, exporting unique, locally crafted bags to international markets.
“Over four decades, we have stayed true to our mission of:
Strengthening local manufacturing;
creating jobs and transferring skills;
opening doors for women and youth in enterprise;
supporting Nigeria’s non-oil export drive and the AfCFTA agenda.
“This anniversary is more than a celebration—it is a call to sustain entrepreneurship in Africa’s fast-changing economy,” she noted.
With expected over 300 distinguished guests, including senior government officials, private sector leaders, development partners, and entrepreneurs across generations;
the day will feature keynote address and fireside conversations with veteran entrepreneurs as well as panel sessions on business longevity.
 Other features are African Continental Free Trade Agreement(AfCFTA) readiness;
Youth and women forums on inclusive business practices
Exhibitions by government and trade agencies will be part of the activities.
Le Look Nigeria Limited has grown to a global brand with the Le Look Bags Academy built in Abuja, Enugu and Lagos.
Le Look is a manufacturer of afro-centric luxury-life style branded bags inspired by African culture and sensibility.
These handbags are crafted from African prints in celebration of the rich African heritage with international and modern fashion flair.
The company offers multiple product categories, including ready-to-wear, handbags, Apple-support products and other carry-on unique and durable accessories.
“Our partnership with designers in Africa has catalysed the resurgence of retailing locally made goods across the continent,” Ezenwa said.
According to her,  “Through our studio in Lagos, we provide on- the-job training, school tuition and health care benefits.
“Our philosophy is simple-to be the first and foremost African luxury brand with global reach”, she added.
Over the years, Le Look Bags Academy has partnered  international and government institutions to promote trade and build capacities for the continent.
The Nigerian Export Promotion Council (NEPC) last year partnered  Le Look Nigeria Limited to boost Nigeria’s non-oil exports and empower local artisans, particularly women and youth in Lagos. This collaboration,  includes the launch of an export skills acquisition center and a fashion innovation hub to equip individuals with skills in bag-making and international trade to meet growing global demand for handcrafted bags.
Also, UNDP Nigeria  is in  partnership with Le Look Bags Academy, to launch a training program designed to equip unemployed youth with limited formal education, primarily women, with practical skills in bag-making as a sustainable livelihood mechanism.
Le Look Bags Academy serves as the leading hub for mastering bag-making and digital technology skills.
The academy provides a unique, personalized approach to equipping learners with the necessary skills to succeed in the dynamic global landscape.
Le Look Nigeria Limited is the first Small and Medium Enterprise (SME) to receive the Authorized Economic Operator (AEO) certificate from the Nigeria Customs Service (NCS).
As a certified AEO, Lelook benefits from trade facilitation, reduced costs, and improved efficiency in its export and import activities, supporting Nigeria’s goal of becoming a leading trade hub.
 Le Look Nigeria is No 0001 under the AFCFTA guided trade Initiative to receive the Certificate of Origin to trade across Africa
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