• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • 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
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • 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
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
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 

RelatedStories

Trade , export, Nigeria

Nigeria records 663 million metric tonnes in exports to ECOWAS in H1 2025 — NEPC 

August 10, 2025
Nigeria, Benin begin implementation of economic cooperation agreement 

Nigeria, Benin begin implementation of economic cooperation agreement 

August 4, 2025

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.


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.

Related Posts

Trade , export, Nigeria
Economy

Nigeria records 663 million metric tonnes in exports to ECOWAS in H1 2025 — NEPC 

August 10, 2025
Nigeria, Benin begin implementation of economic cooperation agreement 
Economy

Nigeria, Benin begin implementation of economic cooperation agreement 

August 4, 2025
WATRA pushes for infrastructure sharing to lower cost of internet in West Africa
Sectors

West Africa could unlock billions of dollars in investments with harmonized digital market—WATRA  

July 30, 2025
Nigerian Custom service
Business News

Customs intercepts five trucks of smuggled rice, Cannabis, others at Seme border 

July 25, 2025
Yusuf Tuggar, Nigerian military
Business News

WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 

June 21, 2025
Under Tinubu, a blueprint for Nigeria’s consumer credit economy is quietly unfolding 
Business News

‘The era of pit to port must end’ – Tinubu tells West African leaders at WAES2025 

June 21, 2025
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 *

otd
Emple
Palmpay
first bank








DUNS

Recent News

  • Zenith Bank celebrates 35 years of trusted banking service, recognises pioneer customers and long-serving staff at anniversary event in Lagos
  • Muhammad Pate says N50bn disbursed to PHCs under Basic Health Care Fund in Q1 2025
  • Opeyemi Agbaje, 60-year-old appointed chairman National Pension Commission

Follow us on social media:

Recent News

Zenith Bank celebrates 35 years of trusted banking service, recognises pioneer customers and long-serving staff at anniversary event in Lagos

Zenith Bank celebrates 35 years of trusted banking service, recognises pioneer customers and long-serving staff at anniversary event in Lagos

August 17, 2025
FG debunks viral claim on free ‘revolutionary diabetes drug’ distribution 

Muhammad Pate says N50bn disbursed to PHCs under Basic Health Care Fund in Q1 2025

August 17, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 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
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • 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
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics