The Acting Comptroller General (CG) of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, has directed the deactivation of selected Authorized Dealer Banks failing to meet Service-Level Agreements (SLAs) related to Customs Duty and statutory charge remittances.
The Service’s spokesperson, Mr. Abdullahi Maiwada disclosed this on Thursday, via a press release.
TheFact Daily gathers that the decision of the NCS to deactivate defaulting banks was taken after a thorough audit and due processes that align with the Service’s commitment to upholding transparency, accountability, and efficiency in revenue collection, the primary objective of which is to ensure the accurate and timely remittance of Customs duties and other essential funds for national development.
In addition to the deactivation of these banks, the Customs Chief has implemented measures to minimize disruptions for importers and stakeholders within the trading ecosystem, assuring the trading community that all pending assessments will undergo clearance processes in line with international best practices.
Consequently, importers who previously relied on the deactivated banks for duty payments are advised to utilize other Authorized Dealer Banks that comply with NCS regulations, and stakeholders encountering challenges with a particular bank are encouraged to use alternatives that function appropriately.
According to Maiwada, “the deactivated banks will have the opportunity to be reactivated once they meet all regulatory requirements and settle outstanding remittances”, even as collaborative efforts with financial regulators and stakeholders are underway to ensure the efficiency and integrity of the Customs Duty Collection system.
“The NCS places a high priority on trade facilitation, putting stakeholders and Nigerian citizens first, even in the face of non-compliance by some Authorized Dealer Banks”, whose “action underscores the NCS’s commitment to maintaining a fair and transparent customs revenue collection process”, the statement said.