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Senate probes alleged N4tr revenue leakage in customs
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Senate probes alleged N4tr revenue leakage in customs

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The Senate Committee on Customs, Excise and Tariff has begun an investigation into how over N4 trillion was lost at the Nigeria Customs Service (NCS) between 2006 and 2016. It decried the inability of the Technical Committee on the Implementation of Comprehensive Import Supervision Scheme to ensure compliance with its provisions .

The panel vowed that the upper legislative chamber would stop at nothing at recovering the funds that were lost to lapses and various infractions. The customs has a yearly target to improve the nation’s revenue. But it has been dogged by allegations of corruption. An investigation may engender transparency in its operations . It may also lead to the recovery of the lost N4trillion revenue which is 57 per cent of the N7.2 trillion national budget for 2017 by the Federal Government . Such recovered funds will be deployed by the government for good governance that will ultimately improve the citizens’ wellbeing.

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