GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...

WRONG IMPRESSION THAT CUSTOMS HAVE THE LIBERTY TO USE SEIZED ITEMS AS THEY DEEM FIT.{PHOTO}.#PRESS RELEASE.

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    PRESS STATEMENT
The outbreak of the deadly Corona Virus (Covid-19) necessitated various and continuous actions by Government at different levels to prevent/stop the spread of the virus in Nigeria.
1. Rice 46,000 metric tons (158 trailers)
2. Vegetable oil (251) 36,495kegs (30 trucks)
3. Palm oil 3,428 kegs (1 truck)
4. Tomatoes paste 136,705 cartons (54 trucks)
5. Spaghetti/Noodles 2,951ctns & 1,253pkts (2trucks)
6. Wrappers (Ankara) 828 bales (ltruck)
7. Lace fabric 2,300 Rolls (1 truck)
Reacting to pains associated with the effects of the lockdown in some parts of the Country, some Nigerians have taken to the social media to call on Nigeria Customs Service to share seized rice and other edible items to members of the public. While some of these calls appear well intended, others had attempted to create the impression that Customs Officers have the liberty to use seized items as they deem fit. Some even mischievously impugned that the items may have already been shared to cronies. Nothing can be further from the truth.It is therefore necessary to explain that in line with the provision of section 167 (2) of CEMA CAP C45 LFN 2004, seized items upon condemnation and forfeiture to the Federal Government by a competent court of jurisdiction are kept in government warehouses pending Government directive on its disposal.
Accordingly, in compliance with the Presidential directive, the ComptrollerGeneral of Customs, Col, Hameed Ali (Rtd) has already approved the release of the following relief items to boost the Federal Government continuous efforts to alleviate sufferings associated with the painful but necessary ongoing lockdown in some parts of the Country. The items include:
Estimated market value of these items is, Three Billion, two Hundred and Fifty One Million, Eight Hundred and Six Thousand with Duty Paid Value of
It should be noted that only edible items certified fit for human consumption by NAFDAC will be released to the public.
As a responsible agency of Government, NCS appreciates the opportunity of contributing its quota to Federal Government's continuous efforts to provide relief for Nigerians in this difficult time. NCS remains committed to strictly adhering to all extant laws governing seized and overtime cargoes. Despite the prevailing risks, the Service will continue to discharge its functions of securing the land borders and collection of revenue that is needed during and post Covid- 19 pandemic period.While urging the officers and men to remain focused on Service delivery, the CGC reminds the operatives and all Nigerians on the need to obey all directives of Government and medical experts to stop the spread of the deadly virus.
DC, Joseph Attah
Public Relations Officer
For: Comptroller-General of Customs.
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