Nigeria Customs Clamps Down On Banks Over Revenue Remittance Failures

In a statement issued on Wednesday by the National Public Relations Officer of the Service, Abdullahi Maiwada, on behalf of the Comptroller-General of Customs, the NCS expressed concern over recurring delays discovered after reconciliation of collections processed through the B’odogwu platform. The Service described the delays as a violation of existing remittance obligations, noting that such lapses undermine the efficiency, transparency, and credibility of government revenue administration.

The Customs Service disclosed that under the Service Level Agreement (SLA) signed with designated banks, any institution found to have breached the agreed remittance timelines would be subjected to penalty interest. The penalty, it said, would be calculated at three percent above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the period of the delay.

The statement further explained that affected banks would receive formal written notifications detailing the delayed amounts, applicable penalties, and timelines for settlement. It warned that repeated or persistent violations of the agreement could result in additional regulatory and administrative sanctions in line with relevant laws governing customs revenue collection.

The NCS also cautioned that the payment of collected customs revenue into unauthorised accounts, whether intentional or accidental, would be treated as a serious offence and handled in accordance with the SLA and applicable legal frameworks.

Reaffirming its commitment to accountability and revenue protection, the Service urged designated banks to strengthen internal controls, comply strictly with remittance timelines, and fully adhere to the provisions of the agreement. The NCS emphasized that prompt, accurate, and complete remittance of customs revenue remains a critical obligation, adding that these measures are essential to safeguarding government funds and supporting national economic development.