The Nigeria Customs Service (NCS) announced it has deactivated some authorized dealer banks that failed to meet Service-Level Agreements (SLAs) related to Customs Duty and statutory charge remittances.
This was disclosed by the Comptroller General of NCS, Adewale Adeniyi in a statement in Lagos on Thursday
He revealed that this decision follows a thorough audit and due process, aligning with the NCS’s commitment to upholding transparency and accountability.
Deactivation
The statement read that the Acting Comptroller General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi MFR, has taken decisive action in response to selected Authorized Dealer Banks failing to meet Service-Level Agreements (SLAs) related to Customs Duty and statutory charge remittances.
“This decision follows a thorough audit and due process, aligning with the NCS’s commitment to upholding transparency, accountability, and efficiency in revenue collection. The primary objective is to ensure the accurate and timely remittance of Customs duties and other essential funds for national development.
Reduced bottlenecks
They added that despite the deactivation of these banks, the Comptroller General has also implemented measures to minimize disruptions for importers and stakeholders within the trading ecosystem.
- “He assures the trading community that all pending assessments will undergo clearance processes in line with international best practices.
- “Importers who previously relied on the deactivated banks for duty payments are advised to utilize other Authorized Dealer Banks that comply with NCS regulations. Stakeholders encountering challenges with a particular bank are encouraged to use alternatives that function appropriately.
The NCS added that the deactivated banks will have the opportunity to be reactivated once they meet all regulatory requirements and settle outstanding remittances.
- “Collaborative efforts with financial regulators and stakeholders are underway to ensure the efficiency and integrity of the Customs Duty Collection system.
The Customs Chief also urged that the agency place a high priority on trade facilitation, putting stakeholders and Nigerian citizens first, even in the face of non-compliance by some Authorized Dealer Banks.
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Recall that Nairametrics reported recently that the FG is offering zero customs duty and zero value-added taxes (VAT) on the importation of compressed natural gas (CNG) conversion kits into the country.
Ajuri Ngelale, the Special Adviser to the president on Media and Publicity stated that the reason for this is to boost the inflow of CNG conversion kits into the country while local CNG kit assembly plants are set up in the country.
He said that the government recognizes the need to crash energy prices in the country after the removal of fuel subsidy which has affected the citizenry when it comes to increased food and transportation costs.
According to Ngelale, the Presidential CNG Initiative (PCNGI) which is chaired by the president’s chief of staff, Femi Gbajabiamila, will ensure that mass transit systems are direct beneficiaries of the CNG solution to remove burdens from low-income earners who use okadas, keke apps.