We recovered N140bn while probing customs – Senate committee

The Senate Committees on Customs, Excise and Tariff and Marine Transport said it has recovered N140 billion in its probe of the Nigerian Customs Service (NCS).

Hope Uzodinma, a Senator from Imo State, who is chairman of the committee of customs, said this on Wednesday while presenting an interim report.

He said the revenue loss was caused by wrong tariff classification, misuse of procedure codes, abuse of diplomatic cargo, falsification of import documentation and undervaluation.

“As a result of this exercise, some collection banks have made additional remittances to the Central Bank of Nigeria (CBN) to the tune of N128 billion and evidence of payment and receipt have been received by the committee,” Uzodinma said.

“From the selected 60 companies, over N12 billion payments have been made to government voluntarily by the companies based on their own internal self-audit after receiving documented evidence of their culpability from our committee.

“Distinguished colleagues, it is instructive to note that despite all payments made so far made, none of the approved collection banks or the selected companies has fully cleared the established liabilities against them.”

He said the committees will present a more comprehensive report in 8 weeks.

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