Nigeria: Customs, RMAFC collaborate to recover funds, block revenue leakages

Nigeria Customs Service (NCS) updates Revenue Mobilization Allocation and Fiscal Commission (RMAFC) on efforts to recover unremitted funds and enhance revenue generation.

The Comptroller-General of Customs (CGC), Bashir Adewale Adeniyi, made a presentation at the RMAFC office in Abuja, outlining measures to recover unremitted funds and boost revenue generation.

The CGC announced the upcoming launch of a revenue recovery exercise initiated in 2023, which successfully recovered over N17 billion within four months.

He assured that the service would implement lessons learnt from the beginning of 2024, particularly strengthening the Post Clearance Audit (PCA) Unit.

The CGC, pleading for support from the commission and other agencies, revealed that since his appointment in 2023, the service has taken significant steps in revenue recovery and addressing areas of possible revenue leakages.

He emphasized the importance of building trust when collaborating with other government agencies to achieve objectives.

He disclosed that there are agencies with legal provisions to stay at the port, and the NCS is actively collaborating with them to streamline processes and ensure their presence doesn’t hinder trade facilitation.

Adeniyi clarified that the goal is not to assign blame but to reduce the time and cost of conducting business in the ports.

“Looking at the target of N5.1 trillion, every naira and kobo we can collect, block and remit is very important,” he stated.

In her paper presentation, Chief Superintendent of Customs (CSC), Ekanem Asuquo, highlighted NCS’ core functions, legal framework and the need to calculate import duties accurately for proper payments.

Chairman of RMFC, Bello Shehu, emphasized the Commission’s role in monitoring NCS activities, seeking support to recover funds, improve revenue mobilization, block leakages, and advise on measures to increase revenue generation.