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NCS Has Suspends It’s Food Disposal Programme Due to Stampeding—-The Nigeria Customs Service (NCS) has suspended its food disposal initiative following a stampede that claimed seven lives on Feb. 23.

The unfortunate incident was during the distribution of 25Kg bags of rice at its Zonal Headquarters, Yaba, Lagos State

The service announced the suspension in a statement by its National Public Relations Officer, Mr Abdullahi Maiwada, on Monday.

Maiwada said that the suspension was part of the service’s resolve to ensure the safety of Nigerians and to enable it properly articulate its next line of action, in order not to defeat the vision of the initiative.

The News Agency of Nigeria (NAN) recalls that the NCS had announced on Feb. 20 that it would facilitate the direct disposal of food items forfeited to the Federal Government.

The initiative was in response to the current challenges of food security in Nigeria and the increasingly high costs of essential food items.

It also targeted an improvement in the lives of indigents.

The distribution of 25kg of rice, thus, commenced on Feb. 23 at the discounted price of N10,000 in Lagos.

The service said that the exercise would be managed to ensure that the benefits reach the most needy.

According to the service spokesperson, the bags of rice were out of stock during the pilot distribution, which led to heightened desperation among the crowd.

“Unforeseen challenges arose when we ran out of stock and announced the continuation of the exercise the following day, leading to a regrettable outcome.

“The crowd became desperate and charged through our barricades in search of rice bags inside emptied containers. In the stampede that ensued, some fatalities and injuries were regrettably recorded.

“Considering the recent unfortunate event, we regrettably announce the suspension of this exercise until we establish what transpired on Friday, 23 February 2024,” he said.

He said that an internal investigation had been initiated to understand the circumstances surrounding the unfortunate event.

The service commiserated with the families of the deceased and assured them of its unwavering support.

“NCS is working with hospital authorities to establish contact and engage directly with the victims’ families regarding their next steps,” he said.

In a similar development, the Spokesperson, in an interview with NAN, said that the process of selling the rice was in line with its regulations.

He said that the money collected from the sales was going directly into the federation account.

This was in reaction to critics who had argued that the bag of rice sold at N10,000 was supposed to be given free to the vulnerable in the society.

He said that the items had monetary value and were sold at that amount to generate revenue for the government.
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“Even though the amount of revenue collected through this scheme is inconsequential compared to what we collect as revenue, we need to recoup the value of duty that would have been collected on those items if they were imported into Nigeria,” he said.

According to him, the price of the rice was discounted to enable indigents afford it.

“But it was later given out for free because of the mammoth crowd at the distribution centre,” he said.

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CBN Affirms Alpha Morgan Bank’s Capitalisation

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CBN Affirms Alpha Morgan Bank’s Capitalisation

CBN Affirms Alpha Morgan Bank’s Capitalisation

 

The Central Bank of Nigeria (CBN) has affirmed the capitalization of Alpha Morgan Bank, marking an important milestone in the Bank’s growth journey and reinforcing its commitment to building a strong, resilient, and future-ready financial institution.

 

This affirmation reflects the Bank’s adherence to regulatory requirements and its strategic focus on strengthening its capital base to support sustainable growth, innovation and improved service delivery to customers.

 

With this milestone, Alpha Morgan Bank is well positioned to continue expanding its footprint with its 14 approved branches across different states, while deepening inclusivity and enhancing the range of banking solutions available to individuals, businesses, and institutional clients nationwide.

 

Commenting on the development, The Managing Director, Mr. Ade Buraimo expressed the readiness of the bank in ensuring compliance with regulatory requirement, good governance framework while delivering satisfying banking along the long-term vision of the bank to become the best bank to work and strong financial institution to reckon with.

 

‘Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future. The affirmation of Alpha Morgan Bank capitalisation reflects the work we have done to build a solid capital foundation that allows us to support businesses more effectively, expand financial access and continue delivering the level of service our customers expect,’’ he said.

 

Alpha Morgan Bank remains committed to maintaining strong corporate governance standards, sound risk management practices, and prudent financial management as it continues to support economic development and create long-term value for stakeholders.

 

As Alpha Morgan Bank enters the next phase of its journey, the institution will continue to scale its operation, invest in technology, expand its branch network and digital banking presence, whilst delivering reliable and satisfying banking experiences to its growing customer base.

 

About Alpha Morgan Bank

 

Alpha Morgan Bank is a Nigerian commercial bank, committed to delivering satisfying banking through innovative solutions, strong corporate governance, and customer-focused services that support economic growth and financial inclusion.

Learn more about Alpha Morgan Bank at www.alphamorganbank.com

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Last-Gasp Valverde Goal Hands Real Madrid Crucial Win

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Valverde Goal Hands Real Madrid Crucial Win

Last-Gasp Valverde Goal Hands Real Madrid Crucial Win—-Uruguayan scores in stoppage time as Madrid edge 2–1 victory to move within a point of LaLiga leaders Barcelona.

Celta arrived in excellent form with four consecutive wins in all competitions and looked determined to extend that run early on. Just five minutes in, Borja Iglesias fired a low effort from 20 yards that forced Thibaut Courtois into a sharp save.

However, Real Madrid quickly found their rhythm. Vinicius Junior came close when he broke through and hit the post, and moments later Los Blancos made their pressure count. After Aurelien Tchouameni saw a shot deflected out for a corner, Madrid cleverly worked the set-piece back to the French midfielder, who swept home his first league goal of the season in the 11th minute.

Real had won all 18 LaLiga matches in which they had opened the scoring this season, but Iglesias looked determined to end that record. He first raced onto a through ball only to be denied by Courtois once again.

The striker eventually found his reward in the 25th minute. Williot Swedberg shrugged off Trent Alexander-Arnold on the left flank before squaring the ball for Iglesias to calmly slot home the equaliser.

Chances became scarce as the first half progressed, though Swedberg tested Courtois again just before the break with a powerful side-footed strike that the Belgian goalkeeper did well to keep out.

The second half struggled to produce clear opportunities, with Ferran Jutgla’s near-post effort from a corner in the 60th minute comfortably gathered by Courtois.

Real Madrid began to show more attacking intent as the game wore on. Youngsters Thiago Pitarch and Cesar Palacios both saw their efforts blocked by Carl Starfelt, while Madrid were also left frustrated when a potential handball by Jutgla in the box was overturned after a lengthy VAR check.

Despite dominating possession late on, Los Blancos nearly paid the price for their lack of cutting edge. With three minutes remaining, Iago Aspas struck the post from inside the area, coming agonisingly close to putting Celta ahead.

But just when the hosts looked set to extend their unbeaten run to six matches, disaster struck. A poor clearance fell kindly to Valverde on the edge of the box, and the Uruguayan unleashed a 25-yard strike that took a huge deflection on its way past Ionut Radu to seal victory in the 94th minute.

The dramatic win keeps Real Madrid unbeaten in Vigo since 2014 and firmly in the LaLiga title race.

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