Economy
NUPRC Releases New Guidelines For Advanced Cargo Declaration
NUPRC Releases New Guidelines For Advanced Cargo Declaration
NUPRC releases new guidelines for advanced cargo declaration. He said exporters found to be in violation may face administrative fines and sanctions.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has released new guidelines for the advanced cargo declaration regime aimed at enhancing transparency, accountability and efficiency in Nigeria’s crude oil and petroleum exports.
A statement by the commission on Wednesday said the review was endorsed by the chief executive of the commission, Gbenga Komolafe, on June 17.
The guidelines, issued under the Nigerian Upstream Petroleum Advance Cargo Declaration Regulation 2024, are designed to establish a robust framework for declaring and tracking crude oil and petroleum product exports from Nigeria.
They monitor and account for the movement of crude oil within the country, preventing disruptions, theft and under-declaration at export terminal
They also ensure that only certified and measured products are exported, supporting accurate revenue generation for the government.
Mr Komolafe said that the regulations applied to licences and leases granted or preserved under the Petroleum Industry Act (PIA) 2021, covering crude oil and natural gas.
He said that it also covers natural gas liquids and petroleum products exported from all terminals and export points in Nigeria.
“Under the revised regime, exporters must obtain an export permit, vessel clearance and a Unique Identification Number (UIN) through the NUPRC’s online platforms before any shipment.
“The Commission will validate the identity of exporters and verify export volumes before issuing clearance notifications, which will be embedded with a UIN for tracking.
“All relevant export documents, including the Bill of Lading, Certificate of Origin and cargo manifest, must reference the UIN, ensuring traceability and compliance, ” he said.
The NUPRC boss said that the advanced cargo declaration portal was a real-time, technology-driven system that integrates seamlessly with other government export systems.
“It allows real-time tracking and reconciliation of crude oil exports, immediate upload of export documentation within 24 hours of cargo loading and enhanced data integrity and transparency across the export chain,” he said.
He said that the guidelines empowered the NUPRC to refuse vessel clearance applications that were incomplete, inadequately documented or contain false information.
According to him, based on the guidelines, exporters found to be in violation may face administrative fines and sanctions.

NUPRC Releases New Guidelines
He said that it reinforced the commission’s commitment to regulatory compliance and sector integrity.
Mr Komolafe said that the initiatives aligned with the commission’s mandate to maximise government revenues, minimise waste and ensure optimal regulatory oversight in line with the PIA.
He said that the new system was part of broader efforts to modernise Nigeria’s oil and gas sector and curb losses due to theft and under-reporting.
The new guidelines represent a significant step toward a more transparent, accountable and efficient oil export regime in Nigeria.
By leveraging technology, robust validation and strict documentation protocols, the commission is addressing long-standing challenges of opacity, losses and inefficiency in the sector.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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