Business
BREAKING: Minister test runs e-gates at Airports

Minister of Interior Dr Olubunmi Tunji-Ojo on Friday test ran the electronic gates (e-gates) mounted at the nnamdi Azikiwe International Airport, Abuja, asserting the job is 99 percent done.
The e-gates, he said, would be deployed for operations by next week.
Tunji-Ojo was accompanied by the Permanent Secretary in the Ministry, Dr Aishetu Ndayako and the Comptroller-General of Immigration, Kemi Nanna Nandap among other top government officials.
He said the e-gates were being deployed to eliminate human interfaces, reduce bureaucracy and make movements of passengers in and out the country seamless.
The Minister said 29 of the e-gates would be deployed in Lagos, four in Enugu and Kano while Port-Harcourt would have five.
He disclosed that the Airport infrastructure and Command and Control Centres have been subjected to different tests with fake and expired passports rejected while genuine ones were cleared.
Tunji-Ojo said:” With this massive infrastructure, we believe that no unwanted persons or persons of interests can find their ways into Nigeria. Our security through the Airports and in the Airport domains are guaranteed.
“It is a testimony to what Mr President told us from day one on his Renewed Hope Agenda. He asked us to change the narratives and make passengers movements in and out of the country seamless.
“You can see that we have all our team here working in synergy with the authorities of the Federal Airport Authority of Nigeria, (FAAN) the Nigeria Customs Service and other stakeholders.
“I must at this point commend the Minister of Aviation, Hon Festus Keyamo (SAN) and other critical stakeholders who have made this transformation possible.”
Details Shortly…
Business
Illicit Financial Flows Draining National Resources – Adedeji
He emphasized the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.

•Chairman of FIRS, Zacch Adedeji
On July 22, 2025, the Executive Chairman of FIRS, Zacch Adedeji, delivered the welcome address at the National Conference on Illicit Financial Flows in Abuja.
He emphasizied the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.
He cited the recent tax reforms as a major step forward and highlighted the following as key points in his welcome address:
* Illicit Financial Flows through tax evasion, profit shifting and money laundering are draining national resources and threatening fiscal stability.
- The recent signing of four tax reform bills marks a critical step toward transparency, system overhaul, and stronger institutions.
- FIRS is responding with a multi-dimensional strategy: promoting voluntary compliance, embracing digital intelligence and enhancing enforcement under the Proceeds of Crime Act.
- * A need for unified, data-driven, and globally coordinated action to close fiscal gaps and protect Nigeria’s economic future.
Business
Just in: CBN Retains July Interest Rate at 27.5% , Says 8 banks meet recapitalisation target
The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon.

The Central Bank of Nigeria (CBN) has maintained the July Monetary Policy Rate (MPR) of 27.5 percent with all policy parameters.
The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon.
Mr Cardoso explained that the asymmetric corridor was retained at +500/-100 basis points around the MPR, leaving the Cash Reserve Ratio at 50 per cent for Deposit Money Banks and a general Liquidity Ratio of 30 percent.
He said that the decision to maintain the current MPR was premised on the need to continue to ensure the ongoing inflation reduction while vigorously ensuring declining prices.
The CBN boss revealed that as of July 18, the nation’s foreign reserve stood at 40.1 billion, which could provide import cover of nine and a half months.
He also disclosed that eight banks had achieved the new recapitalisation requirements.
The governor said the monetary and fiscal authorities would continue to work together to reduce the nation’s inflation rate to a single digit.
Business
NCS Replacing 4% import charges with 1% CISS import levy
Adeniyi explained that the one percent CISS levy has been in place for several years and has been instrumental in facilitating trade and generating revenue for the government.

The Nigerian Customs Service (NCS) has announced that it will be replacing the proposed 4 percent import levy with the existing 1 percent Comprehensive Import Supervision Scheme (CISS) levy.
The Comptroller -General of Customs (CGC), Adewale Adeniyi, made the revelation at an engagement held in Lagos to sensitize stakeholders in the B’Odogwu platform.
The CGC who is also the Chairperson of the World Customs Organization (WCO) explained that, though the introduction of the 4 percent FOB had been enshrined in the constitution.
He noted that the decision to reintroduce the levy was made after careful consideration and consultation with relevant stakeholders.
Adeniyi explained that the one percent CISS levy has been in place for several years and has been instrumental in facilitating trade and generating revenue for the government.
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