Senate to recover N44bn debt from Stallion, Olam

Shocked by the outcome of its investigation into the alleged abuse of rice waivers’ policy in the country, the Senate Ad hoc Committee on Rice Waivers has vowed to recover about N44 billion it said is owed government by two foreign rice importing firms.
The committee stated that, Stallion Group and Olam International are owing government the sum as import duties on rice they imported since May 2014.
Senator Adamu Aliero Chairman of the committee stated that “There is no way the government will ignore this kind of money.
“We have to ensure that this money is collected and deposited into the federation account.

Read also: FG moves against rice waiver beneficiaries

Aliero, who spoke when top representatives of the companies appeared before his committee, insisted that the country must recover the amount from the two firms.
According to him, “The companies imported rice into the country without paying waivers, off-loaded it into their warehouses only to refuse to pay required duties when asked by the Nigeria Customs Service, NCS.”
He said when NCS demanded the money from Stallion Group, the company opted to drag NCS to court.

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