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CUSTOMS LEAKAGES: Senate claims it recovered N140bn from indicted banks, firms

Published

7 years ago

October 18, 2017

The Senate Joint Committee on Customs, Excise and Tarrifs; and Marine Transport on Tuesday claimed that no less than N140 billion was recovered from banks and companies during its investigation into the alleged loss of N30 trillion in Nigeria’s import and export value chain.

The Committee stated this in its interim report considered and adopted on the floor of the Senate on Wednesday.
It added that the recovered funds had been deposited with the Central Bank of Nigeria (CBN).

Following a motion entitled, “Urgent Need to Examine the Operations of the Nigeria Customs Service Revenue Drive’ on November 15, 2016,” the Senate had set up the committee mandating it to carry out thorough probe of the activities of the service in order to “identifying the leakages and irregularities as well as the causes of the declining revenue profile of the service and come up with recommendations that will reinvigorate the revenue of the Nigeria Customs Service.”

Presenting its report, Senator Samuel Anyanwu, told the lawmakers that some banks had remitted N128 billion to the CBN and that some of the 60 companies probed had also made voluntary payments of N12 billion to the Federal Government.

“As a result of this exercise, some collection banks have made additional remittances to the Central Bank of Nigeria to the tune of N128 billion and evidence of payment and receipt have been received by the committee,” he said.

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