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Nigeria Customs moves to sanction banks unable to meet duty remittance agreement


Nigeria Customs moves to sanction banks unable to meet duty remittance agreement

The Acting Comptroller General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi MFR, has responded decisively to selected Authorized Dealer Banks who have failed to fulfill their Service-Level Agreements (SLAs) regarding Customs Duty and statutory charge remittances. This information was communicated by the National Public Relations Officer, Abdullahi Maiwada, through a press release issued today, September 7th, 2023.

The press release stated that this decision was made after a thorough audit and due process, in line with the NCS’s commitment to transparency, accountability, and efficiency in revenue collection. The primary objective is to ensure the accurate and timely remittance of Customs duties and other crucial funds for national development.

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While the deactivated banks will experience disruptions, the Comptroller General has implemented measures to minimize any negative impact on importers and stakeholders within the trading ecosystem. The statement assures the trading community that all pending assessments will undergo clearance processes, adhering to international best practices.

Importers who previously relied on the deactivated banks for duty payments are advised to utilize other Authorized Dealer Banks that comply with NCS regulations. Stakeholders facing challenges with a particular bank are encouraged to explore alternatives that function appropriately.

The deactivated banks will have the opportunity to regain activation status once they satisfy all regulatory requirements and settle outstanding remittances. The NCS is actively collaborating with financial regulators and stakeholders to ensure the efficiency and integrity of the Customs Duty Collection system.

The NCS continues to prioritize trade facilitation, placing stakeholders and Nigerian citizens at the forefront, even in the face of non-compliance by some Authorized Dealer Banks. This action exemplifies the NCS’s dedication to maintaining a fair and transparent customs revenue collection process.

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