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JUST IN: Customs Increases Import Duty Rate By 43 Percent

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The Central Bank of Nigeria, CBN, has approved an increase in the import duty rate by 43 percent.

Recall that the exchange rate for duty collection is usually determined by the CBN.

Importers and stakeholders in trading woke up on Friday to find the increase in the exchange rate, which before now was set at N951.842 per $1 as of December 2024, taken up to N1356.42.

Reacting to the development, Chief Executive Officer of the Center for the Promotion of Private Enterprises, CPPE, Dr. Muda Yusuf, expressed shock at the development, saying that the increase will further worsen the already bad economic situation.

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Yusuf wondered if anybody was advising the Governor of the CBN on the implications of these actions.

He said, “I am shocked at the development, I mean with all these suffering, with all these costs, we have not recovered from the unification of the exchange rate they just did, now another increase in duty.

“This increase will definitely affect every area of our economic life, already; we recorded a drop in the volume of import last year, so you imagine what will happen with this increment.

“The sharp depreciation and the increment of import duty will no doubt affect the volume of trade because the cost of import is going to increase significantly and this will affect practically all the key components of cost.

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“That is the cost of transportation, the cost of shipment, the cost of clearing and this will slow down the velocity and the tempo of activities in the maritime sector. And that tempo has already reduced anyway and it further reduces.”

He warned against the upward review of the exchange rate for the computation of import duty, adding that it would be devastating for both the economy and the citizens.

Speaking in a similar vein, former Executive Secretary of the Nigerian Shippers Council, Mr. Hassan Bello, said that the velocity of the exchange rate is affecting every sector of the economy, adding that the country needs to export more than import.

He said, “As the Naira further depreciates against the Dollar, we will have less importation.”

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74-year-old Woman Robs Bank At Gunpoint After Losing Life Savings To Online Scammers

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A 74-year-old woman, Ann Mayers has been arrested and charged after she robbed a bank in Ohio at gunpoint.

Mayers, 74, who robbed an Ohio credit union last week, April 19, is a victim of an online scam who may have been trying to solve her financial problems, according to her relatives.

Mayers faces counts of aggravated robbery with a firearm and tampering with evidence in Friday’s robbery in Fairfield Township, north of Cincinnati.

The second charge stems from Mayers’ decision to toss her clothing out the car window while making her way home after the robbery, according to the complaint.

READ ALSO: Man Shoots Friend Dead For Taking Bite Of His Girlfriend’s Burger

If convicted, Mayers could face up to 15 years in prison.

She remained jailed Wednesday, April 24, on a $100,000 bond pending an initial court appearance, and court records don’t list an attorney for her.

Officers arrested Mayers at her Hamilton home shortly after the robbery, Fairfield police said in a Facebook post. A handgun was found in her car, which police allege she used in the robbery.

Ann Mayers allegedly told investigators with the Fairfield Township Police Department (FTPD) that she was the person who walked into the AurGroup Financial Credit Union Bank and demanded a teller turn over some of the bank’s cash while brandishing a gun, according to a copy of the complaint.

Bodycam footage taken at the time of her arrest shows that it only took Mayers a few seconds to allegedly confess, as she immediately tells the arresting officers: “I did whatever you’re here for.”

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The officers then ask Mayers to be more specific, at which time the footage shows her saying: “The robbery.”

74-year-old woman robs bank at gunpoint after losing her life savings to online scammers

According to police, Mayers walked away with $500 from her bank heist.

Authorities later learned that Mayers might have been a scam victim and are looking into the claims. Her relatives told detectives that she had been sending money to an unidentified individual, The Columbus Dispatch reported Wednesday.

“In that aspect, some may see her as a ‘victim,'” Sgt. Brandon McCroskey told the newspaper.

Unfortunately, Ann chose to victimize several other people in the bank by robbing it with a firearm as a remedy for her situation.”

READ ALSO: Suspect Arrested Over Murder Of British-Nigerian Man In London

If what her relatives say is true, McCroskey called Mayers’ situation “very sad and unfortunate.”

He said she reportedly spoke with family members about robbing banks in the days leading up to the holdup, but they didn’t take her comments seriously.

Scams against seniors have become increasingly common over the last 10 to 15 years, according to experts.

Among them are so-called grandparent scams in which callers claim to be anyone from a victim’s grandchild to a police officer and tell the victim something terrible happened and that their younger relative needs money.

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Edo Guber: ‘Which Campaign Council’, Orbih Fumes, Rejects Inclusion

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The end seems not to be in sight to the crisis rocking the Edo State chapter of the Peoples Democratic Party (PDP), as the South South Zonal National Vice Chairman of the party, Chief Dan Orbih, has disassociated himself from the recently constituted 200-man Edo PDP Governorship Campaign Council.

Chief Orbih, said that he was not consulted before his name was included in the list which was unveiled on Thursday by the Edo State Organizing Secretary of the party, Mr. Anthony Anenih ,jnr.

Governor Obaseki, former Governor Lucky Igbinedion, Senator Daisy Ehanire-Danjuma, ex-Foreign Affairs Minister, Tom Ikimi, among others are to lead the Advisory Committee of the Governorship Campaign Council while former Majority Leader of the Edo State House of Assembly, Mr. Mathew Iduoriyekemwem will lead the Management Team as Director General.

READ ALSO: Edo Guber: PDP Unveils 200-member Campaign Council

Again, the top PDP leader said that none of the party’s chieftains bothered to inform him that his name was included in the list as he was not invited to the meeting when the decision to set up the council was taken.

He fumed: “Nobody told me of any campaign council and I am not aware of it. Some people who saw my name on the list called me. I have not seen the list and I am not aware of it and not party to the composition of the council.”

The name of immediate past member of the House of Representatives, Dr. Omoregie Ogbeide-Ihama (Oredo), an ally of the South South Zonal national Vice Chairman, was conspicuously missing on the list.

READ ALSO: LG Poll: Voter Apathy As Makinde Votes In Ibadan

Chief Orbih’s headed Legacy Group has been at daggers drawn with the Governor Godwin Obaseki led group for the control of the soul of the party.

The cold war between the two feuding factions led to several litigations during the run up to the 2023 polls as the two camps jostled for the party’s tickets for the National and the States House of Assemblies.

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LG Poll: Voter Apathy As Makinde Votes In Ibadan

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Oyo State Governor, Seyi Makinde, on Saturday, urged residents of the state to come out en-masse to perform their civic responsibility in the ongoing Local Government election.

Our correspondent, who monitored the election, observed that eligible voters refused to come out to participate in the ongoing election.

The governor made this appeal while speaking with journalists shortly after casting his vote at Ward 1, Unit 11 in the Ibadan North East Local Government Area of the state.

READ ALSO: JUST IN: Oyo LG Polls: Hoodlums Attack Electoral Officials, Snatch Ballot Papers [PHOTO]

Makinde reminded them of the need to take part in choosing their leaders.

He, therefore, appealed to residents to come out to exercise their civic responsibilities.

The ongoing local government election is expected to end by 3:pm.

Details later…

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