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Customs release N7.61bn pension benefits for 4,237 retirees

CustomsThe Nigeria Customs Service has released N7.61bn to nine Pension Fund Administrators for the payment of retirement benefits to 4,237 former officers, with the Comptroller-General of Customs, Adewale Adeniyi, reaffirming the Service’s commitment to improving the welfare of its retired personnel.

Adeniyi disclosed this during a dialogue with retired Customs officers, where he announced that the funds had already been transferred to the Pension Fund Administrators for onward payment into the beneficiaries’ Retirement Savings Accounts.

The development was disclosed in a statement issued by the National Public Relations Officer of the Nigeria Customs Service on Friday.

According to the statement, the disbursement is part of the Service’s broader efforts to ensure that retired officers receive their entitlements promptly while strengthening engagement between the Customs leadership and pensioners.

The statement read, “The Nigeria Customs Service has released N7.61 billion to nine Pension Fund Administrators for payment to 4,237 retirees, as the Comptroller-General of Customs, Adewale Adeniyi, reaffirmed the Service’s commitment to improving the welfare of its retired personnel.”

A breakdown presented during the meeting showed that Access-ARM Pension Managers had the highest number of beneficiaries, with 1,223 retirees, followed by Premium Pension Limited with 2,268 beneficiaries. Leadway Pensions accounted for 403 retirees, Trustfund Pensions had 156, FCMB Pensions had 144, Veritas Glanvills Pensions had 28, Norrenberger Pensions had 11, while Fidelity Pension Managers accounted for four beneficiaries, bringing the total number of retirees covered under the latest payment to 4,237.

Addressing the retirees, Adeniyi stressed that the Nigeria Customs Service must remain financially strong and institutionally stable to meet its obligations to both serving officers and retired personnel.

He said the welfare of former officers who devoted decades of their lives to the Service was directly tied to the future and credibility of the institution.

According to him, “The Service must remain strong and financially capable of meeting its obligations to serving officers and retirees. The welfare of officers who have dedicated decades of their lives to the Nigeria Customs Service cannot be separated from the future of this institution. We are committed to ensuring that our retirees receive the attention and support they deserve.”

The Comptroller-General also appealed to retired officers to continue engaging constructively with the Service instead of relying on rumours or unofficial information.

He said, “I acknowledged your concerns and suggestions raised, and it is in view of this that we called for this dialogue to promote better understanding and reduce the effect of rumours and unofficial information on the relationship between the Service and its retired personnel.”

Adeniyi added that regular interaction between the management and retirees would help resolve concerns more effectively while strengthening trust and transparency.

The meeting was attended by the Deputy Comptroller-General of Customs in charge of Human Resources Development, DCG Tijjani Abe, alongside other members of the Customs Management Team.

The senior officers assured the retirees that issues raised during the dialogue would receive appropriate consideration at both the Service’s Board and Management meetings as part of efforts to improve the welfare of former personnel.

Speaking during the engagement, the retirees commended Adeniyi and the Customs management for creating a platform that allowed them to interact directly with the leadership of the Service.

They described the dialogue as timely and appealed for such engagements to be institutionalised to strengthen the relationship between serving officers and retired personnel while addressing emerging welfare issues.

The latest pension disbursement comes amid wider reforms by the Federal Government aimed at improving the welfare of pensioners across the public service.

The Federal Government is currently reviewing statutory provisions governing pensions, including Section 15(4) of the Pension Reform Act 2014, to align them with Section 173(3) of the 1999 Constitution (as amended), which guarantees the periodic review of pensions to reflect prevailing economic realities.

The reforms are expected to improve pension administration and enhance the financial security of retired public servants, including former personnel of the Nigeria Customs Service, as authorities seek to address longstanding concerns over retirees’ welfare and pension payments.

admin by — July 18, 2026 in Business 0
APC, ADC absent as guber candidates endorse Osun Peace Summit

Twelve of the 14 political parties contesting the August 15 Osun State governorship election endorsed peace and accountability commitments on Thursday.

DAILY POST reports that the All Progressives Congress, APC, and the African Democratic Congress, ADC, were absent from the signing ceremony held in Osogbo.

The Peace and Accountability Charters were signed during the Osun 2026 Democratic Governance, Peace and Electoral Integrity Summit, organised by the Osun Development Association, ODA, to encourage peaceful campaigns and responsible leadership before the governorship election.

Governor Ademola Adeleke, who is seeking a second term on the platform of the Accord, was represented at the event by the Commissioner for Industry, Bunmi Jenyo, who signed the documents on his behalf.

Representatives of the Action Alliance, African Action Congress, African Democratic Party, All Progressives Grand Alliance, Allied Peoples Movement, Action Peoples Party, Boot Party, New Nigeria Peoples Party, Peoples Redemption Party, Young Progressive Party and Zenith Labour Party also appended their signatures to the charters.

However, neither the candidates of the APC and ADC nor their representatives attended the summit or participated in the signing exercise.

Speaking at the event, Chairman of the Osun Development Association, Dr Segun Aina, whose address was delivered by Dr Tunji Olugbodi, described the two documents as significant commitments aimed at promoting peaceful elections and accountable governance.

Aina explained that the Peace Charter required political parties and candidates to reject violence, focus on issue-based campaigns, respect electoral institutions, protect voters, pursue legal channels for election disputes and maintain peace after the declaration of results.

He said, “Every party and every candidate that signs this Charter today does so publicly, before the people of Osun State.”

Aina further commended the parties that participated in the exercise, saying, “Your presence here today is itself a statement. It signals that you respect the democratic process. It signals that you understand that elections are won through ideas and not intimidation.”

The association’s chairman also appealed to the Independent National Electoral Commission, INEC, Osun Resident Electoral Commissioner, Oluwatoyin Babalola, to ensure that the election was transparent and credible, while urging security agencies to protect lives and property before, during and after the poll.

In a goodwill message delivered by Deputy Governor Kola Adewusi, Governor Adeleke reaffirmed his administration’s commitment to peaceful and credible elections across the state.

According to the governor, “Our belief is simply that no political ambition is worth the blood of any citizen and no office is more valuable than the life of a single man, woman or child.”

Representatives of the participating political parties also addressed the summit, pledging to comply with electoral laws and contribute to a peaceful and credible governorship election.

Fourteen political parties are expected to field candidates in the August 15 governorship election. Governor Adeleke is contesting for another term on the Accord platform, while Bola Oyebamiji represents the APC and Najeem Salaam is the candidate of the ADC.

The summit formed part of broader efforts by civil society organisations and election stakeholders to promote peaceful conduct, democratic accountability and electoral integrity ahead of the forthcoming Osun governorship election.

admin by — July 17, 2026 in News 0
Reason I visited Kwankwaso ally – APC Chair, Yilwatda

The All Progressives Congress, APC, National Chairman, Prof. Nentawe Yilwatda has said that his visit to Senator Rufai Hanga of the Nigeria Democratic Congress (NDC) and close ally to Rabi’u Musa Kwankwaso was aimed at promoting peace, unity and development in Kano State.
Yilwatda made this known in a statement on Thursday after paying a courtesy visit to Hanga.

According to him, the meeting focused on issues affecting the state and how political leaders can work together despite belonging to different parties.

“Our discussions were cordial and focused on the unity, peace, stability, and future of Kano State.”

The APC chairman said political differences should not stop leaders from working together for the benefit of the people.

Yilwatda also said Nigeria would make greater progress if leaders chose cooperation instead of political rivalry.

“Nigeria’s progress is best served when we build bridges of understanding, encourage constructive dialogue, and place the welfare of citizens above partisan considerations.”

This visit comes at a time when relations seem to be strained between Senator Hanga and Kwankwaso after the lawmaker made series of unapologetic comments.

Hanga was particularly bitter after losing his ticket to Dr. Nasiru Yusuf Gawuna. He also alleged Kwankwaso mulled handing over Kano gubernatorial ticket to his son, Mustapha Rabi’u Musa Kwankwaso.

admin by — July 17, 2026 in News 0
Nigerian govt renames Lagos-Calabar Coastal highway

The Nigerian government has renamed the 750-kilometre Lagos-Calabar coastal highway after President Bola Ahmed Tinubu.

The minister of works, David Umahi, disclosed this in a briefing on Thursday.

According to him, President Tinubu had envisioned this project about 27 years ago.

“By the power conferred on me as the Honourable Minister of Works, and in consultation with the Permanent Secretary, the Minister of State, the directors and the entire staff of the ministry, we have decided to name the entire Lagos-Calabar Coastal Highway after President Bola Ahmed Tinubu.

“This is a dream that Mr President had about 27 years ago,” he said.

The highway is estimated to cost N15 trillion upon completion.

The road, which is one of the Tinubu government’s legacy projects with a section near completion, has been with controversies since its commencement in March 2024.

admin by — July 17, 2026 in News 0
‘EFCC is finished, now symbol of joblessness, misplaced priorities’ – Sowore

The presidential candidate of the African Action Congress, AAC, has lashed out at the Economic and Financial Crimes Commission, EFCC.

In a post on his verified X handle on Thursday, Sowore said the anti-graft agency had become a symbol of joblessness and misplaced priorities.

He was reacting to the grilling of the two activists, Peter Akah and Precious Oruche, popularly known as ‘Mama Pee’.

Recall that the Commission invited the duo to offer clarifications over allegation of abuse of the Naira.

Reacting, Sowore said, “The EFCC  has become a symbol of joblessness and misplaced priorities.

“The real economic and financial criminals appear to be beyond its reach, while the agency increasingly devotes its energy to pursuing easier targets.

“An institution created to combat corruption should focus relentlessly on grand corruption, public asset theft, money laundering, procurement fraud, and the looting of public resources, not distractions that undermine public confidence in its mission. EFCC  is finished.”

admin by — July 17, 2026 in News 0
Akpabio, Oshiomhole clash over Fasina’s confirmation as ambassador

There was slight drama in the Senate on Thursday as Senate President Godswill Akpabio and Senator Adams Oshiomhole disagreed over the confirmation of Professor Abayomi Fasina as a non-career ambassadorial designate amid sexual harassment allegations against him.

The disagreement arose when Oshiomhole argued that endorsing a nominee facing sexual harassment allegations would send the wrong message, particularly to Nigerian women.

“Nigerian women have brought to the attention of this Senate that the professor in question has been accused by two women, not just orally, and these issues are pending before different courts. I think the general view is that nobody says he is guilty; he is presumed to be innocent until proven guilty. But, as a matter of sensitivity, for the Senate to endorse a man who faces cases like that would amount to being insensitive to the feelings of women because it’s not just one woman; there are two women making different allegations.

“So, I thought that in matters like this, it would be more prudent to wait and ask the man to clear himself before the court,” Oshiomhole said.

Recall that the disagreement occurred shortly before the confirmation of the outgoing Vice-Chancellor of the Federal University Oye-Ekiti (FUOYE), Professor Abayomi Fasina, as a non-career ambassadorial designate.

The confirmation followed the consideration of the report of the Senate Committee on Foreign Affairs, chaired by Senator Sani Bello (APC, Niger North), which was presented by Senator Simon Lalong (APC, Plateau South).

admin by — July 17, 2026 in News 0
Lagos approves 2026/2027 academic calendar for public, private schools

Lagos State Government has approved and released the harmonised academic calendar for the 2026/2027 school session for all public and private primary and secondary schools across the state.

The announcement was made on Thursday by the Commissioner for Basic and Secondary Education, Mr Jamiu Tolani Alli-Balogun, following extensive consultations with key stakeholders in the education sector coordinated by the Office of Education Quality Assurance, OEQA.

According to the commissioner, the calendar was adopted after two separate stakeholders’ meetings during which participants deliberated on and agreed to the major activities and timelines for the upcoming academic year.

The approved schedule provides details of school resumption dates, mid-term breaks, examination periods and holidays, offering a structured framework to enable schools, teachers, parents and students to plan effectively throughout the session.

Alli-Balogun noted that the harmonised calendar underscores the Lagos State Government’s commitment to promoting quality education through a coordinated and well-organised academic system.

He called on all public and private schools in the state to strictly adhere to the approved timetable to ensure uniformity and the smooth implementation of academic activities.

The commissioner also encouraged members of the public to access the complete 2026/2027 academic calendar on the official website of the Office of Education Quality Assurance, OEQA, as well as across the Lagos State Government’s official digital platforms.

admin by — July 17, 2026 in News 0
Energy Expert Says Dangote Refinery $4.43Bn Crude Import Signals Failure Of Naira-Crude Initiative

Importation of about 39.9 million barrels of crude at a combined cost of approximately $4.43 billion in May and June by Dangote refinery indicates that Nigeria’s crude-for-naira policy has failed.

Oil and gas expert and public affairs analyst, Victor Udoh, while speaking to the policy uncertainties argued that the Dangote Petroleum Refinery would not have spent nearly $5 billion importing crude oil within two months if the initiative was working as intended.

He stated these while speaking in an interview with ARISE NEWS on Thursday.

Udoh said the refinery imported about 39.9 million barrels of crude at a combined cost of approximately $4.43 billion in May and June, insisting the figures demonstrated that the policy had failed to guarantee adequate domestic crude supply for local refining.

“The crude for Naira has not worked. I’m going to speak with facts this morning. Empirical facts, Dangote Refinery saying that they imported about 21 million barrels at the cost of $2.6 billion in May alone.

There’s another one here that says they imported about 18.9 million barrels at the cost of $1.830 billion in June alone. That’s close to $5 billion they spent on bringing crude in, in the month of May and June. So it shows you, if the crude for Naira is working, they will not spend about $5 billion in two months to bring in crude.”

He said the continued importation of crude by the Dangote refinery raised serious questions about the implementation of the government’s crude-for-naira arrangement. “The big question now is, what quantity does Dangote get in Naira for crude exchange? Then the second question is, what quantity does it not get? If we get that question right, then we’ll be able to determine, are we supposed to still be available for the push and pull of the global economic reality of oil and gas?”

Udoh urged the federal government to increase crude supplies to the refinery under the policy if existing allocations were inadequate. “If the quantity you’re selling for Naira and crude is not sufficient, please kindly increase it so that we will have this product at our stations at available price.”

On concerns over Nigeria’s recent improvement in crude oil production, he dismissed suggestions that official production figures were being exaggerated. “First and foremost, I want to come to the last statement to say that there is no propaganda regarding the quantity of oil Nigeria is producing.”

Udoh explained that Nigeria’s long-standing production challenges had been caused mainly by crude theft. “The inability of Nigeria as a country to produce oil to its optimal is not the availability of the product within the region or non-availability within the wells. It has always been a product of vandalism or other criminalities that have hampered production to the point of calculation.”

According to him, improved protection of oil transportation facilities had contributed to the country’s gradual production increase. “What has happened is that a significant improvement has occurred in the process of transportation of oil from production to calculation since that has been addressed significantly, then we can look at the production possibilities.”

While acknowledging that Nigeria was approaching its OPEC production quota, Udoh emphasised that the country was still below its own budget benchmark for 2026. “We have had an arithmetical progression, not geometric, it must be noted that the budget of 2026 is pegged at 1.84. It means that we may exceed OPEC quota. We have not met our own target.”

He also expressed concern over the speed at which changes in international crude prices were reflected at filling stations. “The challenge is, how quickly will our market or our pump at the filling station respond to either drop in price or increase in price?”

Udoh stressed that regulators had a responsibility to ensure that investors did not exploit market conditions at the expense of consumers. “The regulators must be up and doing for there to be transparency in pricing, because every investor seeks to maximise profits, but the regulator helps keep the investor in check.”

He acknowledged that the Dangote refinery had significantly improved Nigeria’s energy security. “It’s a great investment. It’s responded to our problems that we could not respond to. But the regulator must be efficient and effective in making sure that the rules that govern the process of purchase.”

Udoh argued that long-standing crude swap agreements were undermining the effectiveness of the crude-for-naira policy. “Most of our crude are incumbent already in swaps. There are swaps that were signed many years ago that take the crude out.”

He noted that fuel prices had not remained completely static, pointing to variations in pump prices across retail outlets. “It is not very correct that there were not fluctuations in prices. I noticed that there was 125 Naira differentiation in some instances, and I personally bought 129 the day before yesterday, while before now I’ve bought 152. So there was differentiation. But how quickly will this differentiation reflect?”

admin by — July 17, 2026 in Business 0
TotalEnergies Forecasts Significant Q2 Profit Earnings

Oil major, TotalEnergies has predicted significant revenue earning in the second quarter as it expects ‌higher energy prices due to the Iran war.

However it expects liquefied natural gas income to drop down due to weak trading, an earnings snapshot published on Thursday showed.

TotalEnergies said hydrocarbon production was expected to reach nearly 2.4 million barrels of oil equivalent per day in the ‌second quarter.

Upstream ⁠earnings were seen rising by about $1 billion from the first quarter as production resumed in several Middle Eastern countries and increased in the United Arab Emirates.

The company now estimates the impact of the Iran war on upstream output at 210,000 barrels of oil equivalent per day, down from 360,000 boed flagged in the first quarter.

The U.S.-Israeli war on Iran which led to Iran effectively shutting the Strait of Hormuz disrupted global supplies and pushed crude oil and gas prices to multi-year highs, delivering a windfall for major energy companies.

Shell and BP flagged strong trading profits in the past week.

All TotalEnergies ⁠divisions are expected to improve except LNG, where earnings will be sharply lower because of what the company called “an underperformance in gas trading amid a broadly flat to declining European market”.

Analysts at JPMorgan called the trading statement “fundamentally fine” in an investor note, adding that UK peers fared better on LNG trading — but still said there were chances Total might hike its share buybacks to $2 billion from the previously stated $1.5 billion.

Global benchmark Brent crude prices hit multi-year highs and averaged around $97 per ⁠barrel during the April-to-June quarter, up 45% from $67 per barrel a year earlier.

Higher oil prices are expected to boost upstream earnings, although TotalEnergies said the benefit would be partly offset by accounting effects, reflecting that a significant share of increased Middle East production could ⁠not be exported because of disruption in the Strait of Hormuz.

Its integrated power division is expected to show a strong increase in cash flow following the closing in April of its deal with EPH that doubled Total’s portfolio of ⁠European gas plants.

In downstream operations, higher refining margins and strong oil trading are expected to drive a sharp increase in earnings from the first quarter, when Total already showed outsized war-related trading profits.

TotalEnergies reports second-quarter results on July 23.

admin by — July 17, 2026 in Business 0
Sterling Bank, StarTimes Accelerates Nigeria’s Clean Energy Transition Target ₦2 Billion Solar Financing

Sterling Bank and StarTimes Nigeria have launched Sterling Solar Financing Hubs inside StarTimes retail outlets. This initiative embeds on-the-spot solar financing at the point of purchase, with a joint target of reaching ₦2 billion in renewable energy financing by the end of 2026.

 

The initiative builds on an existing partnership that has already facilitated over ₦600 million in solar financing transactions over the past year. The new 2026 target represents more than a threefold expansion, aimed at enabling thousands of Nigerian households and small businesses to transition to reliable, affordable, and sustainable energy.

 

By embedding Sterling’s financing expertise directly within StarTimes’ retail network, customers can now walk into participating outlets, select their preferred solar solution, receive financial guidance from dedicated Sterling Solar Financing Advisors, and begin the financing process immediately, subject to the Bank’s credit assessment.

 

Speaking on the partnership, Darlington Nwankwo, Divisional Head, Renewable Energy and Mobility at Sterling Bank, said, “Sterling exists to enrich lives, and we believe that access to clean, reliable energy should be within everyone’s reach. Through this partnership with StarTimes, we are democratising access to solar by bringing financing directly to the point of need, enabling more families and businesses to transition to sustainable energy without the burden of prohibitive upfront costs. This is about unlocking opportunity, improving livelihoods, and powering Nigeria’s future.”

The first phase of the rollout commences this July with five Solar Financing Hubs across Lagos, located in Lekki, Ikeja, Festac, Surulere, and Victoria Island. The network will expand rapidly to 46 StarTimes outlets nationwide before the end of the third quarter of 2026, with a view to extend the model to more than 200 StarTimes locations nationwide.

Eric Xiao, Vice President of StarTimes Nigeria, added, “With the rollout of the Sterling Solar Financing Hubs, we are doing more than just selling solar products; we are building a sustainable energy ecosystem. By integrating StarTimes’ extensive service network with Sterling Bank’s professional financial services, we are significantly lowering the barrier for Nigerian households and small businesses to access clean energy. Moving forward, we will continue to deepen this partnership, ensuring that more Nigerians can enjoy reliable, affordable, and smart energy solutions, ultimately turning our vision of energy accessibility into a reality for all.”

As the partnership scales nationwide, Sterling Bank and StarTimes will continue working together to democratise access to clean energy financing, empowering more Nigerians to solarise their homes and businesses while contributing to a greener future.

 

As one of the pioneering financial institutions in Nigeria with a dedicated Renewable Energy division, Sterling Bank reflects a long-term commitment to financing solutions that drive sustainable development and improve quality of life. Through innovative partnerships such as this, Sterling continues to bridge financing gaps while accelerating the adoption of clean energy across Nigeria.

admin by — July 17, 2026 in Business 0