The Nigeria Customs Service (NCS) said it has noted instances of delayed remittance of Customs revenue by some Designated Banks following reconciliation of collections processed through the B’odogwu platform. Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
In a statement issued on Wednesday and signed by Dr Abdullahi Maiwada, a Deputy Comptroller of Customs, the service affirmed that the enforcement is in line with the provisions of the Service Level Agreement (SLA) executed between the Nigeria Customs Service and Designated Banks.
The Service consequently disclosed that, any Designated Bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three percent (3%) above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the duration of the delay. It added that, affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement.
“The Service further notes that persistent or repeated non-compliance with the terms of the SLA may attract additional sanctions, including regulatory and administrative measures, as provided under the Agreement and relevant laws guiding Customs revenue collection”.
“The NCS reiterates that prompt, accurate, and complete remittance of Customs revenue is a fundamental obligation of Designated Banks. Any payment of collected revenue into unauthorised accounts, whether deliberate or erroneous, will be treated as a serious violation and addressed in accordance with the SLA and applicable legal frameworks”.
The NCS however advised concerned banks to strengthen internal controls, ensure strict adherence to remittance timelines, and comply fully with the provisions of the SLA.
