revenue loss

How Okonjo-Iweala’s memo led to N1.7tn revenue loss – Senate

The Senate Ad Hoc Committee on Alleged Misuse, Under-Remittance and Other Fraudulent Activities has said unremitted revenue generated by agencies between 2012 and 2016 amount to N1.7trn. The panel blamed it on a memo by a former Minister of Finance, Mrs. Ngozi Okonjo-Iweala. She allegedly issued the memo to the agencies to remit 25 per... Read More

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Agenccies, memo, N1.7trn, ngozi okonjo iweala, revenue loss, senate

March 27, 2017

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Senate investigates alleged N4trn revenue loss in customs

by Azeez Adeniyi The Senate has started investigations into an alleged revenue leakage of about N4trn in the Nigeria Customs Service (NCS) between 2006 and 2016. Chairman, Senate Committee on Customs, Excise and Tariff, Hope Uzodinma, made this known in an interview with journalists in Abuja. Uzodinma said preliminary investigation revealed that the revenue leakage... Read More

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Customs, N4trn, PROBE, revenue loss, senate