The Comptroller-General of Customs, Col. Hameed Ali (retired) disclosed this when he received the All Progressives Congress (APC) chairman, Comrade Adams Oshiomole in Abuja on Thursday.

Ali explained that since the closure of the borders, the revenue being generated by the service was increasing on daily basis, adding that there was never a time NCS generated the revenue or much money like it realised in September.

Ali said the measures taken had compelled those who used to smuggle things into the country to go to the ports and pay necessary duties.

According to him, the aim is to ensure that the closure is sustained up till January 2020.

Ali said the main objective of the border closure was to ensure that neighbouring countries complied with the ECOWAS protocols on transit.

He explained that the protocol on transit mandated customs in the neighbouring countries to escort items coming to Nigeria to the borders so the importers would not evade payment of duties.

The customs boss added that the closure of the borders had helped to reduce the incessant attacks by bandits.

He said that this measure had helped in curtailing the influx of arms and ammunition into the country.

According to him, the step taken by the joint border security operatives headed by NCS has also reduced the importation of some illicit drugs into the country.

The post Borders closure: Customs generates N115bn in September appeared first on New Mail Nigeria.

The Accountant-General, Ahmed Idris, who represented the Minister of Finance, Kemi Adeosun, told journalists in Abuja that the N415.7 billion was distributed under four sub-heads.

“The distributable revenue for the month is N272.1 billion. The sum of N6.33 billion was refunded by NNPC. There is also a proposed distribution of N20.42 billion from the excess Petroleum Profit Tax.

“Also, exchange gain of N38.5 billion is proposed for distribution. Therefore, the total revenue distributable for the current month, including VAT of N81.2 billion is N415.7 billion”, she said.

Adeosun said government generated N177.7 billion as mineral revenue, which showed a reduction of N50 billion from the N228.5 billion generated in March.

Similarly, in April, the non-mineral revenue also reduced by N6.6 billion, from the N103 billion the country generated in March.

The minister said after deducting cost of collections to the revenue generating agencies, the federal government got N124.4 billion, states N63.1 billion and local government councils N48.7 billion.

In addition, she said N22 billion was given to the oil producing states based on the 13 per cent derivation principle.

On the balance of the excess crude account, the minister said the account currently stands at 2.45 billion dollars.

Despite the increase in revenue generated for the month, the federal government drew attention to the decrease in crude oil export volume.

Adeosun said that despite government effort, crude oil production still suffered setbacks.

She said there were continued leakages arising from sabotage of oil pipelines.

Also, the Chairman, Forum of Finance Commissioners in Nigeria, Mahmoud Yunusa said states were also committed to increasing their internal revenue generation in line with the federal government’s recovery and growth plan.

He decried the low allocation, saying that it may not be enough for some states to pay their salaries.

The post FAAC: Federation revenue shrinks by N52.1 billion in April appeared first on New Mail Nigeria.

The Customs Area Controller, Temitope Ogunkua made this known while briefing journalists on the achievements recorded by the command in the past few months.

Ogunkua also disclosed that 188 assorted seizures were made with a duty paid value of N368.6 million within the period under review.

The Area Controller used the medium to announce that his leadership will continue to deal decisively with the economic saboteurs and work for the security wellbeing of the nation.

He said, “In the face of the challenging economic situation in the nation, the Nigeria Customs Service (NCS), has stepped up its operation by blocking all revenue leakages in order to collect maximum duty accurate to the Federal Government.

“This has led to the arrest of various assorted, luxury vehicles smuggled into the country through unapproved border routes.

Ogunkua maintained that despite the various campaigns against smuggling, some elements are still smuggling various assorted items into the country.

“It is disheartening to note that despite the arrest and seizure of about ten thousand bags of rice between the months of January to September 2016, the smugglers have continued their nefarious activities daring the Federal Government ban on the importation of the rice through the border areas.

He announced that the command had recently seized, one fairly used Honda Crosstour, one fairly used lexus Rx 300 and Rx 450, one fairly used Honda CRV, one fairly used Mazda 626 and one used Volkwagon bus.

Others include fairly used Mitsubishi outlander, one fairly used Toyota carina E, one fairly used Toyota prius, one fairly used Toyota Avalon, two fairly used Toyota Previa, five fairly used Toyota buses with Rice,and one fairly used Toyota picnic loaded with Rice.

He said the above items were seized at different locations within the command coverage. ‎

Follow Us

The post Customs earns N11bn in 9 months appeared first on New Mail Nigeria.