• Friday, March 01, 2024
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BusinessDay

Customs suspends dealer banks over non-remittance of import duties

Adewale Adeniyi, acting comptroller-general of Customs

The Nigeria Customs Service (NCS) has banned some commercial banks from collecting import duties from importers following their failure to remit already collected duties.

Abdullahi Maiwada, national public relations officer of the NCS told newsmen that Adewale Adeniyi, the acting comptroller general of Customs approved the suspension of the selected authorised dealer banks for failing to meet Service-Level Agreements (SLAs) relating to Customs duty and statutory charge remittances.

BusinessDay understands that the deactivation affects two commercial banks, which Customs chose to withhold their names, and that the amount involved was over N10 billion.

Maiwada said the decision followed a thorough audit and due process, aligning with the NCS’s commitment to upholding transparency, accountability, and efficiency in revenue collection.

Read also: Review lending rate, waive import duties on inputs, MAN tells FG

He said the primary objective was to ensure the accurate and timely remittance of Customs duties and other essential funds for national development.

According to him, importers who previously relied on the deactivated banks for duty payments are advised to use other authorised dealer banks that comply with NCS regulations.

He advised importers encountering challenges with a particular bank to use alternatives that function appropriately.

“The deactivated banks will have the opportunity to be reactivated once they meet all regulatory requirements and settle outstanding remittances. Collaborative efforts with financial regulators and stakeholders are underway to ensure the efficiency and integrity of the Customs duty collection system,” he said.

Read also: Customs reviews import duties on vehicles, spare parts

He further said that the comptroller-general has implemented measures to minimise disruptions for importers and stakeholders within the trading ecosystem.

He assured the trading community that all pending assessments would undergo clearance processes in line with international best practices.