Waiver policy fraud: Senate to summon Customs, CBN gov

The Senate through its Ad- Hoc Committee on Waivers is likely to summon ministries, departments and agencies of government including the Federal Ministry of Finance, the Central Bank of Nigeria and the Nigeria Customs Service to explain what it said was a massive fraud in the waiver policy on rice and other food items granted some indigenous companies
The committee raised the alarm yesterday on the fraud, noting, that rather than use it positively for the interest and benefit of Nigeria and Nigerians, the policy was used by importers and relevant government agencies to defraud the country of billions of Naira, that otherwise would have been accruable revenues into the federation account.
Chairman of the committee, Sen Adamu Aliero (APC, Kebbi Central), in a chat with journalists after the sitting of the committee yesterday, noted that the MDAs and parastatals will give relevant information to unearth the rot waivers have caused in the system.
The Senate committee was set up in July to carry out holistic review of the policy with a view to determining revenue losses incurred by government. It said it has uncovered series of ways the policy is being used by importers and relevant government agencies to defraud the nation of billions of naira.
Aliero who was not specific on the alleged rots uncovered so far, said the whole thing would be made open at the stage of public hearing and in the final report the committee would submit to the Senate.

Read also: Senate to probe N585b import waivers

He said, “We have sent letters of invitations to MDAs like the Federal Ministry of Finance, the Central Bank of Nigeria and of course, the Nigeria Customs Service, to give us relevant information that will help us to carry out the assignment given us very effectively and in fact, unearth the rot waivers have caused in the system.
He added that the committee would be meeting again on Tuesday where final decisions would be taken on how it will go about the public hearing.
The Senate, based on a motion by Senator Rafiu Ibrahim (APC, Kwara Central) in July, where he alleged that Nigeria lost N585 billion between 2011 and 2014 to waivers on rice and other food items, set up the committee to look into the policy regime and carry out its holistic review with a view to determining government revenues lost to waivers.

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now