BusinessDay
NigeriaDecides2023

Customs generates N1.293trn revenue in six months

The Nigeria Customs Service (NCS) said it has generated over N1.293 trillion in revenue into the federation account for the first six months of the year, between January and June 2022.

The sum represents a 28.83 percent increase from the N1trillion generated same period in 2021. It also issued 116,691 Pre-Arrival Assessment Reports (PAARs) against 129,667 processed in the same period of 2021.

Timi Bomodi, national public relations of Customs, said the service also generated the sum of N156.3 billion into non-federation accounts as collections made on behalf of other government agencies.

According to him, Customs was given a revenue target of N3.019 trillion for the year 2022.

On excise duty levied on the manufacture, sale, and consumption of goods, he said, the service collected over N68 billion from manufacturers of beer, spirits, and other alcoholic beverages, cigarettes, and tobacco among other products.

Read also: Gaping Apapa potholes hurt businesses despite N2.3tn Customs revenue

Bomodi disclosed that Customs also commenced the collections from extant traders producing carbonated and sugary drinks in the month of June, which is newly added under schedule 5 of the common external tariff (CET).

He however said the Service has collected over N1 billion in the month of June from carbonated and sugary drinks.

The Customs spokesperson disclosed that Customs is expected to start collecting revenue on call and data from telecommunication and digital network services as soon as the modalities for collection are put in place.

On anti-smuggling, he said, the Service seized various goods including narcotics and other illicit drugs, foreign parboiled rice, dangerous pharmaceuticals, textiles, made-up fabrics, used clothing, and vehicles with a total duty paid value of N39.12 billion.

“The Anti-Money Laundering Unit of the Service made seizures of $339,800; 12,000 POUNDS; 3,013,500 RYD; 20,005 CFA, and 133 ATM cards. Seven persons were also arrested in violation of the Anti-Money Laundering Act and handed over to the Economic and Financial Crimes Commission (EFCC) for prosecution,” Bomodi added.

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