Customs Enforces Penalties on Banks Over Delayed Revenue Remittance
The Nigeria Customs Service (NCS) has commenced enforcement of penalties against Designated Banks found to be delaying the remittance of Customs revenue, following reconciliation of collections processed through the B’odogwu platform. The Service said the delays amount to a breach of remittance obligations under existing agreements and pose a serious threat to the efficiency, transparency, and integrity of government revenue administration. In a press statement issued on Tuesday, the National Public Relations Officer of the Service, Deputy Comptroller of Customs Abdullahi Maiwada, PhD, mnipr, mniia, explained that the enforcement action is in line with the Service Level Agreement (SLA) executed between the Nigeria Customs Service and Designated Banks. The SLA, he noted, clearly stipulates timelines for the remittance of collected Customs revenue. According to the statement, any Designated Bank that fails to remit collected revenue within the prescribed period will be liable...