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Friday, September 22, 2023

Reps Vow To Recover Unremitted Revenue Before End Of 2021

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The House of Representatives Committee on Customs, has vowed to ensure that all unremitted revenue is recovered before the end of year 2021.
This followed an allegation of non-remittance of N10.6 billion Customs and Excise duties collected by five commercial banks.
The five Banks include: Guaranty Trust Bank (GTB), United Bank of Africa (UBA) Eco Bank, Standard Chartered Bank and Providus Bank.
Chairman of the Committee, Leke Abejide, in Abuja at the committee’s hearing explained that the Committee is in partnership with the Federal Ministry of Finance, the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) to recover the assets owed to the FG.
 While also calling on the banks to provide all necessary documents to the auditors for reconciliation and onward payment.
At the hearing, the Chairman of the Committee further explained that they (Committee) are more determined to ensure that money belonging to the Nigerian Customs Service (NCS) that have not been given to them or that is being delayed or used for business is recovered.
“We have been on this assignment for about a year now, it is because of COVID-19 that we could not do much last year, but we are determined to finish it before the end of 2021.
“The assignment is so important because the major issue confronting Nigeria today is inadequate revenue and this is as a result of leakages everywhere.
“We have not done much, we have only checked five banks and we have discovered N10.6 billion,” the Committee explained.
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