Representatives Seek Explanation From Customs Regarding Lack Of Audited Financial Statements For Past Three Years

Representatives Seek Explanation From Customs Regarding Lack Of Audited Financial Statements For Past Three Years

The Nigeria Customs Service (NCS) faces scrutiny as the House of Representatives Public Accounts Committee (PAC) questions the non-submission of audited financial statements for the 2016 to 2018 financial years…..CONTINUE READING

Led by Rep. Bamidele Salam, the committee interrogates the Comptroller-General of Customs, Mr Adewale Adeniyi, on various issues raised by the Auditor General of the Federation.

Concerns include under-remittance of revenue, under-disclosure of outstanding remittance, non-maintenance of bank statements, and violation of the E-payment policy. Additionally, the query highlights the non-submission of audited financial statements for the specified years. Adeniyi explains that only the Common External Tariff was remitted into the federation account, emphasizing changes after the implementation of the Treasury Single Account (TSA).

Despite explanations, discrepancies emerge as documents reveal that audited financial statements were submitted to the Auditor General in 2021. The committee chair directs further investigation into other queries against the commission.