Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Reps probe banks over non-remittance of N10.6 billion Customs and Excise duties

William Ukpe by William Ukpe
September 2, 2021
in Business News, Spotlight
Why 65 agencies have never been audited, yet still funded by FG – Reps Committee
Share on FacebookShare on TwitterShare on Linkedin

The House of Representatives Committee on Customs resumed its investigative hearing on the alleged non-remittance of N10.6 billion Customs and Excise duties collected by five commercial banks.

The five Banks includes Guaranty Trust Bank (GTB), United Bank of Africa (UBA) Eco Bank, Standard Chartered Bank and Providus Bank.

This was disclosed by the Chairman of the committee, Rep. Leke Abejide, on Wednesday in Abuja at the committee’s hearing, adding that the House Committee is committed to recovering unremitted revenue by related institutions before the end of the year.

RelatedPosts

Customs gives companies 14-day ultimatum to register for payment of excise duty

Customs reduces import duty for used and new vehicles to 20%

He added that the Committee is in partnership with the Federal Ministry of Finance, the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) to recover the assets owed to the FG and urged the banks to provide all necessary documents to the auditors for reconciliation and onward payment.

What the committee said:

It said, “We have been on this assignment for about a year now, it is because of COVID-19 that we could not do much last year, but we are determined to finish it before the end of 2021.

“The assignment is so important because the major issues confronting Nigeria today is inadequate revenue and this is as a result of leakages everywhere.

“We are going to make sure that any money belonging to the Nigerian Customs Service (NCS) that have not been given to them or that is being delayed or used for business is recovered. We are determined.

“We have not done much, we have only checked five banks and we have discovered N10.6 billion.’’ 

The bank officials at the hearing said that the amount disputed could be resolved in meetings between its auditors and the Committee to compare documents. However, reports say representatives of the United Bank of Africa were walked out of the hearing due to the unavailability of top officials from the bank

In case you missed it

Nairametrics also reported earlier that the House of Representatives Committee on Customs had given the Nigerian Customs Service (NCS) two weeks to reduce its 18 cargo clearing stages to four in order to decongest the nation’s ports.

Chairman of the Committee, Rep. Leke Abejide said that the process should be limited to the offices of the Comptroller Area Commander (CAC), Deputy Comptroller Revenue (DCR), Officer in Charge of Bond and then Gate.

Related

Tags: House of Representatives Committee on CustomsNigerian Customs Service

Leave a Reply Cancel reply

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

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Lagos partners with private sector to provide more affordable houses with various projects
    • Central African Republic starts crypto hub to boost financial inclusion
    • FG reveals why it is pushing for more Public Private Partnerships in Nigeria

    Follow us on social media:

    Recent News

    Housing in Lagos State

    Lagos partners with private sector to provide more affordable houses with various projects

    July 5, 2022
    Central African Bank pushes back on Central African Republic’s adoption of Bitcoin

    Central African Republic starts crypto hub to boost financial inclusion

    July 5, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com