Business
Nigeria Customs Acquires Aircraft to Strengthen Air Operations
The Nigeria Customs Service (NCS) has announced the acquisition of a Cessna Grand Caravan EX-208B aircraft for strengthening its surveillance activities.
Comptroller-General of Customs (CGC), Mr. Bashir Adeniyi, inspected the newly acquired aircraft on Friday in Bartlesville, Washington, USA, marking a pivotal moment for NCS’ air wing operations.
In a statement, customs’ National Public Relations Officer, NCS Abdullahi Maiwada, stated that the aircraft, registered as 5N-BAA, was set to enhance the service’s air patrol and surveillance efforts.Powered by the reliable PT6 Pratt and Whitney engine, the Cessna Grand Caravan is globally recognised for its rugged versatility, short-field take-off and landing capabilities, and ability to operate on remote airstrips—making it ideally suited for border security operations in Nigeria.
Adeniyi emphasised the importance of the acquisition, stating that the aircraft is fitted with modern Garmin G1000 Avionics cockpit system, enabling operations under day, night, and low-visibility conditions.
He said, “This aircraft will be a game-changer for the Nigeria Customs Service’s air wing. Its ability to carry 10 officers, coupled with its six-hour aerial endurance, will significantly enhance our capacity for air surveillance and border patrol.
”The aircraft is expected to play a crucial role in air patrols aimed at detecting smuggling routes, deploying armed personnel, and providing swift support for ground operations.
The CGC said, “With this aircraft, we will strengthen our air border patrol capabilities, which will not only help us intercept illegal activities but also provide quick extraction support when necessary.
”He said the aircraft’s mission aligned with President Bola Tinubu’s Renewed Hope agenda.
Adeniyi said the aircraft will also serve as a strategic asset for Nigeria Customs Technical and Hangar Services Limited, offering logistical support and revenue generation for the service.
Adeniyi underscored the cost-efficiency of the aircraft, stating that its operational costs are relatively low compared to other aircraft in its class.
He said , “This is a long-term investment for the service that not only enhances our operational efficiency but also contributes to the sustainability of our air surveillance programs.
”Aircraft Operations Coordinator and Managing Director of Nigeria Customs Technical and Hangar Services, Capt. Kuhi Mbaya, hailed the acquisition as a milestone for NCS’s aviation unit.
Mbaya said, “With this aircraft, the Nigeria Customs Service is poised to revitalise its air border patrol activities, securing our borders more effectively and improving revenue generation for both the service and the nation.
”The statement added, “The acquisition of the Cessna Grand Caravan is expected to provide significant tactical advantages to the Nigeria Customs Service, tightening border security, and sending a clear signal to economic saboteurs that the service is better equipped than ever to combat smuggling activities.”
Business
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
