Duty Remittance: Customs, CBN Meet Erring Banks

The Nigerian Customs Service (NCS) on Sunday, said only two banks were deactivated recently by the NCS over their failure to remit duties collected.

It also stated that the erring banks had been reported to the stipulated financial authorities, including the Central Bank of Nigeria (CBN) adding that discussions by all the parties were ongoing currently.

The National Public Relations Officer, NCS, a Chief Superintendent of Customs, Abdullahi Maiwada said that various steps were being taken to address the situation.

On Friday, it was reported that the acting Comptroller-General of Customs, Adewale Adeniyi, ordered the deactivation of some banks over their failure to remit duties collected.

When contacted on Sunday to state how many banks were deactivated and the amount that they failed to remit, the spokesperson for the service said two Deposit Money Banks were affected.

Maiwada said, “On the amount involved, deliberately we didn’t disclose it. For the defaulting banks, they are two. As for the steps being taken apart from blacklisting the banks, it should be noted that before even blacklisting them, we had a thorough engagement with them.

“We are also in discussion with the banks, and I think that last week, we arrived at a very reasonable conclusion and they are ready to oblige and do the needful. So very soon they will be back on track. The banks are two of them.”

On whether the service informed the CBN about the infractions by the banks, Maiwada said, “We are engaging with the relevant systems, including the Central Bank of Nigeria, to make sure that these things are resolved. However, it must be noted that the essence of that press release was not to bring down or tarnish the reputation of any bank.

“The essence was to sympathise with importers who were affected by the situation and the way out for traders who do not have any reason to suffer because of the inadequate or lack of competence of a particular institution.”