By Yinka Kolawole

The Lagos Chamber of Commerce and Industry (LCCI) has urged the Nigeria Revenue Service (NRS) to immediately extend the June 30, 2026 deadline for filing Company Income Tax (CIT) returns by one month.

This, according LCCI, follows what it saw as widespread technical failures on the newly deployed Rev360 tax platform that left thousands of companies unable to comply with the statutory deadline.

In a statement, yesterday, Director General of LCCI, Dr. Chinyere Almona, argued that while some businesses waited until the final day to file their returns, the prolonged disruption of the portal on the deadline day made compliance impossible for many taxpayers.

According to her, Rev360, which was launched barely two months ago, suffered prolonged downtime on June 30, triggering login failures, validation errors and unsuccessful submissions as companies raced to meet the filing deadline.

“The failure was that of the platform, not the taxpayers,” she said, stressing that deploying a new digital tax system shortly before a major compliance deadline inevitably comes with operational challenges, particularly under heavy traffic.

Almona noted that the predictable surge in last-minute filings exposed the platform’s inadequate capacity, leaving many businesses locked out of the system at a critical period.

She called on NRS to take three immediate steps to restore confidence in the tax administration process: extend the CIT filing deadline by one month; waive all penalties for companies that attempted to file on or before June 30 but were prevented by the system outage; and urgently strengthen the capacity and stability of the Rev360 platform before the next filing cycle.

The LCCI DG said a prompt announcement of the deadline extension and penalty waiver would calm growing anxiety within the business community and prevent unnecessary disputes arising from a failure beyond taxpayers’ control.

By Providence Ayanfeoluwa

The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has challenged the Minister of Power, Joseph Tegbe, to translate recent assurances on electricity sector reforms into visible improvements in power supply.

The group maintained that Nigerians can no longer afford the economic consequences of persistent electricity failures.

In a statement signed by its National President, Otunba Frank Ogunojemite, on Tuesday, APFFLON described the electricity crisis as one of the biggest impediments to Nigeria’s economic growth, industrialisation and investment drive. According to him, no nation can build a globally competitive economy while grappling with chronic power shortages.

He stated: “No nation can build a globally competitive economy while operating in darkness. Stable electricity is not a luxury—it is the foundation upon which industries grow, investors gain confidence, jobs are created and businesses flourish.

“The cost of inadequate electricity is being paid daily by manufacturers, freight forwarders, importers, exporters and ordinary Nigerians. Businesses are shutting down, investors are relocating to countries with more reliable infrastructure, and unemployment continues to rise.”

Ogunojemite lamented that businesses across the country still rely heavily on diesel and petrol generators to sustain operations, a situation that has significantly increased production costs and weakened the competitiveness of Nigerian enterprises. He noted that the cost of doing business in Nigeria remains among the highest on the African continent, largely because of inadequate electricity supply.

“The Minister has an opportunity to leave a lasting legacy. Nigerians will judge this administration not by the number of conferences held or policies announced, but by whether electricity becomes stable, affordable and accessible”.

Hands over N53bn worth of seized drugs, expired pharmaceuticals to NDLEA, NAFDAC

By Efe Onodjae

The Nigeria Customs Service (NCS) has uncovered an attempt to smuggle unregistered pharmaceutical products into Nigeria using a fake registration number of the National Agency for Food and Drug Administration and Control (NAFDAC).

The Comptroller-General of Customs, Bashir Adeniyi, disclosed this yesterday during the handover of seized narcotic drugs and expired pharmaceutical products worth N53.4 billion to the National Drug Law Enforcement Agency (NDLEA) and NAFDAC at the Apapa Area Command.

According to Adeniyi, one of the intercepted shipments contained 1,100 packages of CHACOLD Chlorpheniramine Maleate Capsules bearing a fake NAFDAC registration number and fraudulent documentation designed to give the impression that the products had been duly approved.

He explained that although the consignment initially appeared legitimate, detailed verification confirmed that the medicines were not registered with NAFDAC.

“The use of a fake registration number and supporting documentation clearly indicates a deliberate attempt to smuggle unregistered pharmaceutical products into the Nigerian market, thereby posing a serious risk to public health,” he said.

The Customs boss said the fake registration case formed part of nine major seizures recorded by the Apapa Area Command through intelligence gathering, scanning technology, physical examination and close collaboration with the NDLEA.

He disclosed that the seizures included cannabis, codeine syrup, expired pharmaceutical products and other prohibited items intercepted in containers arriving at the nation’s busiest seaport.

Among the seizures were two 40-foot containers loaded with Cannabis Sativa concealed alongside imported vehicles, automobile spare parts and household items. One container contained 3,639 parcels of cannabis weighing 1,819.5 kilograms, while another held 9,918 sachets weighing approximately 4.95 metric tonnes.

Customs also intercepted two containers carrying 3,398 cartons, equivalent to 339,800 bottles, of Codeine Syrup hidden inside consignments of insulated casserole dishes and other household products.

In addition, officers seized three containers loaded with expired pharmaceutical products, including Tramadol, Oxytocin injections, Carbamazepine tablets, Cloxicillin capsules, Vitamin B12 injections and B-Complex injections, all earmarked for regulatory action.

Another container carrying Piccan Teething Powder was also intercepted.

Adeniyi said the seizures demonstrate Customs’ commitment to protecting public health, national security and the nation’s borders through intelligence-driven enforcement operations.

“These seizures represent far more than monetary value. They represent lives protected, families preserved, communities secured and countless young Nigerians shielded from the devastating consequences of drug abuse and unsafe medicines,” he said.

The Comptroller-General announced that all narcotic drugs seized had been handed over to the NDLEA for investigation and prosecution, while expired pharmaceutical products would be transferred to NAFDAC for regulatory action and safe disposal.

He added that goods used to conceal prohibited items, including vehicles and automobile spare parts, would remain in the custody of the Nigeria Customs Service pending forfeiture, condemnation, revenue recovery and other enforcement procedures under the Nigeria Customs Service Act, 2023.