…As Customs Reveals Waivers Made It Unfeasible for it to Remit More to CRF In 2023
The Senate would soon commence investigations into the granting of waivers and concessions in the country, by the former administration of President Muhammadu Buhari, according to its Senate Joint Committee, scrutinising the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper.
This is sequel to revelations by the Nigerian Customs Service (NCS) when it appeared before the Committee, that it lost N1.3 trn in 2023, due to waivers and concessions the President Buhari’s administration granted to investors.
The Customs had said it would have generated more revenue to the nation’s Consolidated Revenue Fund in 2023, if not because of the waivers and concessions arrangements.
The Comptroller General of the NCS, Bashir Adewale Adeniyi, had stated this during an interface with the committee on revenue projections for 2024 , 2025 and 2026 fiscal year.
The CG who was represented by the Deputy Comptroller General, Mba Musa, made the revelation , when the chairman of the committee , Senator Sani Musa ( APC Niger East ) , made inquiries to that effect .
But not comfortable with the arrangement, Musa, the chairman of the Joint Committee ,said the Senate would commence investigation into granting of waivers and concesioning in the country, an assertion that was supported by the members of the Committee.
The Customs had also surprised the Committee, when it said that it does not have details of the Customs $3.2bn modernisation project.
The Federal Executive Council (FEC) had in April 2023 approved the Nigeria Customs Service (NCS) modernisation project, also known as e-customs, despite a court order restraining the federal government from going on with the initiative.
The administration of ex-President Muhammadu Buhari, specifically approved the implementation of the Customs modernisation project, also known as e-customs, despite a court order against it.
The concessionaire is Bergman Securities Consultant and suppliers limited , Africa Finance Corporation UFC as lead financier while Huawei Technologies will be trained as lead technical service provider.