ALLEGED N30TN FRAUD: Senate recovers N120bn, threatens Dana, Starcomms, 11 others

Dana group, StarComms Plc, and 12 other firms involved in an alleged revenue fraud of N30 trillion have been given till Monday to appear before the Senate Joint Committee on Customs, Excise and Tariff and Marine Transport or face sanction.

The chairman of the committee, Senator Hope Uzodinma, stated this in a statement he released in Abuja on Friday. He added that Monday will be the last chance the companies will have to appear before the committee as failure will see them facing the full wrath of the law.

According to him, the Senate has so far been able to retrieve about N120 billion from some of the erring companies.
Other companies summoned along Dana include A-kehnal Integrated & Logistics Limited, Don Climax/Skyaim, Gagsel International, Africa Tiles & Ceramics and Network Oil & Gas, IBG Investment Limited.

Others are BUA International limited, Huawei Technologies, Indorama Petrochemicals, African Industries and African Wire and Allied.
According to Uzodinma, the Senate committee had following the investigation been able to the recover over N120 billion from erring companies.

Vowing to ensure a follow up on others, Uzodinma explained that the committee had concluded plans to instruct the Nigeria Customs Service (NCS) to begin issuing Demand Notice (DM) to companies found culpable in the ongoing investigation.

Read also: ADEOSUN: FG recovers N11.6bn, pays N375.8m to 20 whistleblowers

He further said that the demand notice is to ensure the companies return monies due the Federal Government, adding that companies found to have been involved in round tripping and money laundering would be charged to court without hesitation.

”The committee has only taken the first batch of the companies invited. Only 61 companies have been interrogated and over 2000 companies are still expected to appear before us,” he said.

The committee was set up by the Senate with the mandate to probe into an alleged over N30 trillion revenue leakages in the import and export value chain between 2006 and 2017.

 

 

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