Home
  • Home
  • National
  • Customs: Senate begins probe into alleged N4trn revenue leakage
Tin Can Lagos

Customs: Senate begins probe into alleged N4trn revenue leakage

26 March 2017 National


The Senate Committee on Customs, Excise and Tariff, has commenced investigation into alleged over N4 trillion revenue leakage in the Nigeria Customs Service between 2006 and 2016.

The Chairman of the committee, Sen. Hope Uzodinma, made this known in an interview with newsmen on Sunday in Abuja.

He said that the committee would stop at nothing in recovering the money, which was lost to lapses and various infractions.

He pointed out that preliminary investigation by the committee revealed that the over N4 trillion revenue leakage was due to abuse and non implementation of Form M (Foreign Exchange forms).

He added that wrong classification of cargo under HS Code (Harmonised System Codes), non screening of cargoes coming into Nigeria and lack of adequate ICT infrastructure for revenue collection, were equally responsible.

Uzodinma further explained that cancellation of pre-arrival assessment reports and abandonment of single goods declaration were equally responsible for the leakage.

Source: Punch


Share

Leave a Reply

%d bloggers like this: