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Full Potentials of FTZs Unharnessed Inspite Lofty Largesse-Agents

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Alhaji Abdullahi Dikko Inde, Comptroller-General of the Nigeria Customs Service (NCS)
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Freight Forwarders alleged that from the vintage point and reports available, the full potentials of the Free Trade Zones (FTZs) in Nigeria have not been fully harnessed, especially in the areas of qualitative and efficient infrastructures, in spite various inceptives given by the government.

Speaking under the auspices of National Association of Government Approved Freight Forwarders (NAGAFF), the agents are of the view that the FTZ policies and principles need to contain provisions that would compel investors to see as an obligation to develop the centres for the interest of all parties involved.

Dr. Boniface Aniebonam, founder of the Association in a statement made available to Nigeria CommunicationsWeek identified, at the same time, that there must be incentives like electricity, good roads, access to raw materials and labour etc that would encourage and attract foreign direct investment to the Zones.

“Above all, Government at all levels should strive to guarantee peace and stability which are the two major attractions for FDI,” he said.

Aniebonam also frowned at unprofessional conducts of some Agents at the Zones admonishing them that Free Trade Zones should be regarded as a country within a country. 

He said: “It is important that practitioners should know that Free Trade Zones are regarded as a country within a country.  The essence of Free Trade Zone is to bridge the distance between the foreign manufacturers and the consuming nations.  It is also expected to generate employment for the local nationals and equally transfer technology.

“Operations at free trade zones are expected to save cost in freight charges in a country like Nigeria whose import is based on cost, insurance and freight.  Free Trade Zones are expected to accommodate semi-finished products, raw materials and machineries only.

“It is most unfortunate that information reaching NAGAFF Headquarters indicate that some freight forwarders may be acting in ignorance by involving themselves in clearing goods like rice, wine, furniture and car battery into the free zones without payment of Customs duty.  This is very wrong and should have to stop immediately.

“We want to emphasise that one of the major problems in our seaports and border station operations has to do with the non-compliant attitude of the importers and freight forwarders.  It has not been easy with the Nigeria Customs Service to contend with this unprofessional act.  Free trade zone operation in Nigeria is becoming a factor in our foreign trade and it is our belief that we should not allow what is happening at the ports and border locations to rear their ugly head in that virgin area.

“We want to state clearly that any attempt to take into Free Trade Zones finished products in contravention of Customs laws is an act of smuggling and the law is very clear in that regard.  It is equally important to note that goods manufactured in the Free Trade Zones are expected to pay

Customs duty before they could be allowed by Customs to enter Nigeria. It is either way for all finished products in the Free Trade Zone operation”.

The NAGAFF founder also enjoined all practitioners to ensure due compliance and they should not allow anybody to use them to flout the laws governing Free Trade Zone operations.

“We will not fail to mention that we have noted some sort of blackmail against the Nigeria Customs Service in ensuring best practices in the Free Trade Zones in some parts of the country and we are monitoring the situation.

“It is on record that Nigeria Customs Service may have impounded about 52,000 bags of rice, 80 x 40’ containers of wine, 90 x 40’ containers of furniture and 7 x 20’ containers of motor battery entering into the Free Trade Zones without payment of Customs duty.  It is our belief that the management of Free Trade Zones should ensure the rules of engagement to avoid putting our members in problem.

“It shall therefore be an act of sabotage to do otherwise to the contrary. At the moment only Calabar Free Trade Zone and Onne Oil and Gas Free Trade Zone are operating at 80% capacity.  Others like Kano, Banki and Lekki Export Processing Zone etc are under construction,” he added.

It is on record that the Federal Government had enabled incentives to Free Trade Zone operators which shall include but not limited to; exemption from payment of all federal, state and local taxes, levies; rates, and Customs duties on semi finished goods, raw materials and

machinery; repatriation of foreign capital investment in EPZs at any  time with capital appreciation on the investment; no import or export licence; rent free land during construction of factory space and services such as warehousing, standard pre-built factories, transportation, sanitation, canteen, etc, are available within the zones.

There are also unrestricted remittance of profits and dividend earned by investor in the zone; 100% foreign ownership of enterprises in the EPZ allowable and sale of up to 25% of production permitted in the domestic market, however, the Zones have not yielded expected results.

 


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General News

Cellulant Taps Freddie Oduro to Lead Enterprise Payments Expansion in Ghana

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Mr. Freddie Oduro, New Country Manager for Ghana.
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Cellulant, a leading Pan-African payments company enabling seamless digital transactions across Africa, has appointed Mr. Freddie Oduro as its new Country Manager for Ghana.

Cellulant Taps Freddie Oduro to Lead Enterprise Payments Expansion in Ghana

Mr. Freddie Oduro, New Country Manager for Ghana.

Freddie’s appointment is a key step in Cellulant’s broader strategy to deepen its presence in priority markets by accelerating the acquisition of in-country enterprise businesses and strengthening its position as the payments partner of choice in Africa.

Freddie brings over a decade of commercial and strategic leadership experience in the telecommunications and financial services sectors, with expertise in  sales, business operations, and market expansion.

In his new role, he will drive merchant acquisition, strengthening partnerships, oversee collections and payout operations, while ensuring strong internal controls and regulatory compliance.

He joins Cellulant from Payaza and previously served as Sales Director at Cellulant, where he helped significantly expand the company’s footprint in Ghana.

Cellulant has been powering payments in Ghana for leading brands in sectors like e-commerce, utilities, oil and gas and retail, helping them offer their customers a wide range of secure digital payment options.

“We are happy to welcome Freddie back to the Cellulant family,” says Richard Gesimba, Chief Revenue Officer at Cellulant. “Ghana remains a critical market for us, with immense potential driven by rising digital payments adoption.

“As we sharpen our focus on in-country enterprise customers, Freddie’s leadership and industry insight make him the ideal person to steer our Ghana operations.”

The appointment comes at a transformative time for the company. Following a strategic shift between late 2023 and early 2024, focused on streamlining operations, doubling down on enterprise payments, and strengthening customer intimacy, Cellulant achieved profitability in 2024 and continues to build on this momentum.

The company now processes close to 4.5 million transactions daily for businesses across Africa, reinforcing its position as a fintech leader.

“I am honoured to return to Cellulant and lead the Ghana team at such a defining moment,” says Freddie, Country Manager for Cellulant Ghana. “Ghana presents a tremendous opportunity.

“We will ramp up our efforts to sign on more local merchants, strengthen our compliance and control frameworks, and introduce innovative solutions like Tingg Edupay, our automated school fee management solution that eliminates reconciliation delays by validating payments in real time and instantly updating student accounts.

“We will build on Cellulant’s strong foundation to deliver real value, reliability, and economic impact.”

Ghana’s digital payments sector continues to grow steadily, supported by increased mobile money usage and a progressive regulatory environment. Between January and October 2025, the value of mobile money transactions hit about GH¢ 3.6 trillion, up sharply from GH¢ 2.37 trillion in the same period of 2024.

Registered mobile money accounts now exceed 79 million, demonstrating strong consumer and business confidence in digital financial services and in turn creating many opportunities for payment innovation.

This leadership appointment underscores Cellulant’s commitment to building a resilient, high-performance organisation geared towards playing a pivotal role in the next era of Africa’s digital economy.

Looking ahead to 2026, Cellulant plans to further enhance the user experience on its payment platform, Tingg, and expand its  footprint across Ghana.


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Top Nigerian Startups Secure Funding Boost @ iHatch Demo Day Awards

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Nigeria’s startup ecosystem received a fresh injection of momentum as top emerging ventures secured funding and investor attention at the iHatch National Demo Day, where Interface Africa clinched the highest prize of $15,000.

The 4th cohort of the NITDA–JICA-backed accelerator brought together founders, policymakers, and venture stakeholders in Abuja, showcasing innovations ranging from clean-energy financing and digital food marketplaces to next-gen fintech tools.

The startups went rounds of running through state-level selections and regional competition. iHatch was established in 2021 as a strategic partnership to create an enabling environment for young Nigerians to develop and scale their innovative solutions.

The iHatch National Demo Day (4th Cohort), is an initiative by NITDA and JICA which provides a clear pathway for homegrown talent to contribute significantly to economic diversification and digital transformation.

After rigorous selection processes, the top founders converged to pitch their innovations, recognised the standout performers, which are:

Interface Africa with $15,000, the firm is driving Nigeria’s clean energy transition by enabling structured and affordable solar financing.

Ahioma with $12,000, the firm enhances food accessibility with a digital marketplace connecting consumers directly to trusted vendors.

Linia Finance with $10,000, the firm is helping Nigerians take control of their finances with tools for budgeting, tracking, and smart money planning.

Chapta got a laptop reward. They delivering an offline-capable school application ensuring consistent, accessible learning for students everywhere.

Softdrop also got a laptop reward, they solve logistics challenges through a modern delivery platform designed for speed, convenience, and efficiency.

 


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Fidelity Bank to Host Virtual Masterclass on New Tax Law

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Fidelity Bank Plc, a leading financial institution, will host a free virtual training on the Nigeria Tax Act 2025 (NTA) as part of its commitment to helping small businesses prepare for the upcoming legislation.

Fidelity Bank to Host Virtual Masterclass on New Tax Law

Fidelity Bank

The masterclass is scheduled for 10:00 AM (Nigerian time) on Friday, 12 December 2025. It will provide participants with clear insights into changes in the tax framework, the impact on income and business operations, and practical steps to avoid penalties in 2026.

Attendees will also learn strategies to stay ahead in an evolving regulatory environment.

The Nigerian government enacted major tax reforms on 26 June 2025 when President Bola Ahmed Tinubu signed four tax bills into law.

These Acts will take effect on 1 January 2026 and represent a significant overhaul of the country’s tax system.

The reforms aim to modernize and harmonize Nigeria’s tax framework, improve revenue generation, broaden the tax base, and create clearer rules for individuals, businesses, and government agencies.

“Our decision to host this masterclass reflects our commitment to empowering businesses with the right information ahead of the commencement of the new tax regime.

“Information is money and a well-informed business owner is already steps ahead in the race to success.

“This is why we are bringing experts to provide accurate details and demystify the tax act,” said Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc.

Interested participants can register via https://bit.ly/2026TaxLawMasterclass .


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