• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
Nairametrics
Home Companies Company News

Audit Query: Customs CG, AGF disagree over N28billion unremitted fund

Chike Olisah by Chike Olisah
February 21, 2020
in Company News, Politics
NAHCO reacts to $8.06 million intercepted by Customs at Lagos Airport, Audit Query: Customs CG disagrees with AGF over N28bn unremitted funds. Nigerian Customs Service to distribute N3.2 billion food items
Share on FacebookShare on TwitterShare on Linkedin

There was drama at the Senate yesterday as the Accountant General of the Federation and the Comptroller General (CG) of the Nigeria Customs Service (NCS) disagreed over the N28 billion unremitted fund into the Federation Account in 2015.

The disagreement occurred when Col. Hameed Ali, Comptroller General of NCS and Ahmed Idris, the Accountant General of the Federation, who was also represented by who was represented by a Director in his office, Feyintola Olusegun, appeared before the Senate Committee on Public Accounts to address the audit query from the Auditor-General of the Federation, Anthony Ayine over the unremitted funds.

external debt servicing, debt serving, Nigeria's debt, Nigeria's debt portfolio, Audit Query: Customs CG disagrees with AGF over N28b unremitted funds 

MoreStories

Lake Point Towers hosts the 2024 / 2025 Estate Intel Nigeria Deal Makers Award 

Lake Point Towers hosts the 2024 / 2025 Estate Intel Nigeria Deal Makers Award 

February 22, 2026
Life Conversations: Show love differently this valentine’s season 

Life Conversations: Show love differently this valentine’s season 

February 22, 2026

Ayine had in the Financial Statement of the Auditor General’s office asked the Accountant General of the Federation to explain the difference in the figures remitted by Nigeria Customs Service and the figure in his own records.

The audited report showed that the Accountant General’s office remitted N157 billion against NCS statement which showed that they remitted N185 billion. The Accountant General had earlier referred the Auditor General and the Senate committee to the NCS for more explanation.

(READ MORE: Court strikes out MTN Nigeria’s suit against AGF, as FIRS, Customs take over tax…)

Ali, while appearing before the Senate Committee on Public Accounts led by Senator Matthew Urhoghide said that the query was strange and absolved his agency of any wrongdoing. Going further, he added that the mode of collections by customs is purely automated and stated that there is a problem for anybody to point at them.

However, in what appears like a new twist, the Accountant General made a U-turn with a statement that the N28 billion was for ECOWAS stabilization fund for 2015. This new explanation did not go down well with the lawmakers as it was quite different from his earlier submission to the Senate Committee. Also, there was no documentary evidence to back up this claim.

However, on the query of non-remittance of the pension fund, Ali admitted that the NCS defaulted in 2015 as the agency did not have enough funds to meet up with its obligations.

The committee Chairman expressed displeasure that for over five years, a lot of the Ministries, Departments, and Agencies refused to produce their audited accounts. He reminded the Customs boss that the Customs Act states that the agency must send in their audited accounts six months into a new financial year.

(READ MORE: NAHCO reacts to $8.06 million intercepted by Customs at Lagos Airport )

The office of the Auditor-General of the Federation is a separate and independent entity with the powers, duties, and responsibilities to conduct periodic checks on all Government statutory corporations, commissions, authorities, and agencies, including all persons and bodies established by an Act of the National Assembly. The Auditor-General is expected to within 90 days of the receipt of Accountant General’s financial statement submit his report to the National Assembly, which will be considered by the Public Accounts Committees of both chambers of the National Assembly.

It had earlier been reported in December 2019, that about 265 agencies of the Federal Government, including the National Assembly itself, violated the fiscal and audit rules, especially with poor compliance on the submission of the financial statements to the Auditor General’s office.


Add Nairametrics on Google News
Follow us for Breaking News and Market Intelligence.
Tags: Ahmed IdrisAnthony AyineECOWASFeyintola OlusegunNCSOn the MoneySenator Matthew Urhoghide
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Next Post
Baker Magunda, Guinness Nigeria Plc, Baileys, Why Guinness is a stock to pick - RenCap , Heavy sell-off in Guinness shares leads to N6.9 billion market value loss in a single day

Guinness Nigeria boss reveals factors pulling company's profit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

rabafast

nairametrics








DUNS

Follow us on social media:

  • HOME
  • ABOUT NAIRAMETRICS
  • CONTACT US
  • DISCLAIMER
  • ADs DISCLAIMER
  • COPYRIGHT INFRINGEMENT

© 2026 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
  • Login
  • Sign Up

© 2026 Nairametrics