The Nigeria Customs Service says it will begin enforcing penalties against designated banks that delay the remittance of customs revenue, as part of efforts to strengthen transparency and protect government earnings.
In a statement on Wednesday, the NCS spokesperson, Abdullahi Maiwada, said the delays followed reconciliation of collections processed through the B’odogwu platform and described them as a breach of remittance obligations.
He said any bank that fails to remit collected customs revenue within the prescribed timeline would be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.
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Mr Maiwada added that affected banks would be formally notified of the delayed amounts, the applicable penalties, and the deadline for settlement, in line with the service level agreement between the Nigeria Customs Service and designated banks.
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