N30TRN REVENUE LOSS: Senate orders firms to file defence in one week

The Senate Joint Committee on Customs, Excise and Tariff, and Marine Transport investigating N30 trillion revenue loss in the import and export value chain, has given firms under probe to file in their defence in a week’s time.

The Senate committee had on Wednesday ordered some of the firms that failed to honour its earlier summon to appear before it on Thursday or face arrest.

Among the companies were Globacom, British American Tobacco Company, CCEC Nigeria, Dana Group, African Wire and Allied Ltd, and Admiral Overseas Nigeria Ltd.

Others are Aarti Steel Nigeria Ltd., Gagsel International, Fries Land Capina, Etco Nigeria Ltd, Encounter Ltd, Edic Chemicals and Allied Distributors Ltd, Don Climax Group and De United Foods.

Following the meeting with those firms on Thursday in Abuja, the Senate committee made available copies of documents which detail supposed infractions by the companies to representatives of the companies.

The document included a list of 2,554 shipments with infractions pertaining to unutilised Bill of Lading.

By the end of Thursday’s meeting, the committee had quizzed
over 30 companies and ordered them to file in their defence on or before the next meeting on Thursday next week.

In the course of the investigation, the committee had quizzed indicted commercial banks as well as government agencies.

It had also met with over 30 companies out of the over 60 it penned down for investigation for their alleged sharp practices leading to revenue loss.

Asking the quizzed companies to return next week Thursday with their defence, the chairman of the Joint Committee, Senator Hope Uzodinma, specifically said that Retail Supermarkets Nigeria Limited had to come forward with its defence to be sourced from its bankers over alleged unutilised Form M amounting to N13 billion.

Read also: Senate fumes, issues appearance ultimatum to Glo, others, over role in N30trn revenue loss

He said, “Our position is that if there is anything new, outside what we have submitted and presented to you, show us. Let us see that you paid the right duties and you will continue with your businesses. That is what we are saying.

“We will have to meet on Thursday. If there is anything you need like clarifications, you can consult with our secretariat,” he said.

The lawmaker decried that the free trade zones in Nigeria were being abused by corrupt companies, saying, “The whole idea of free trade zones, I don ’t know why it is still in operation in Nigeria . It is being abused.”

The Senate had asked the panel to investigate the alleged over N30 trillion revenue leakages in the import and export value chain between 2006 and 2017.

Ebere Ndukwu …

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