Reps Committee issues 14-day ultimatum to banks over alleged N10bn unremited Customs Duty

Reps Committee issues 14-day ultimatum to banks over alleged N10bn unremited Customs Duty

The House of Reps Committee on Customs has given two weeks ultimatum to some financial; to reconcile accounts and also remit all outstanding Customs Duties to the Federal Government.

The Chairman of the Reps Committee, Rep. Leke Abejide (ADC-Kogi) issued the ultimatum; at an investigative hearing on Wednesday, October 13, in Abuja.

1st News also learned that the investigative hearing was on alleged non-remittance of N10 billion customs duty; to the Federal Government by commercial banks.

Leke said that the banks are Polaris Bank; Providus Bank; Guaranteed Trust Bank; Eco Bank; United Bank of Africa (UBA), as well as Standard Chartered Bank.

The lawmaker said that Eco Bank is owing N4.4 billion; UBA, N3 billion; and Standard Charted Bank is owing N2.4 billion also.

The chairman said that the Reps committee wants to conclude its investigations; within the period to enable members to participate in the 2022 budget defence.

“Failure to reconcile with our consultants and pay up the outstanding before two weeks; we will use the power of the gavel,” he said.

He threatened to write the Central Bank of Nigeria (CBN) to deduct all outstanding from the source and blacklist affected banks from collecting customs duty.

He said that there are 15 other banks to be investigated and that the committee was determined to recover every single kobo back to the Federal Government.

Meanwhile, the Assets Management Corporation of Nigeria (AMCON) has stated that it received N1, 667, 582, 605.04 recovered funds; by the Economic and Financial Crimes Commission (EFCC) between 2017 and July 5, 2021.

This was contained in a letter by AMCON presented to the House of Representatives Ad-Hoc Committee on Assessment and Status of All Recovered Loots at an investigative hearing on Tuesday, October 12, in Abuja.

The letter was signed by the Managing Director, Ahmed Lawan Kuru, as well as Group Head, Enforcement, Joshua Ikioda.

The corporation said the amount represented loan repayments recovered; which were credited to its Central Bank of Nigeria (CBN) account for the settlement of bond obligations.

Also Read: Obaseki hails Zinox as Edo signs partnership with Nigeria’s tech giant

Presenting a synopsis of the payment, AMCON indicated that remittances to the corporation in 2017; amounted to N1, 178, 764, 500 for the credit of nine debtors.

For recoveries made in 2019, the agency said it received N356, 318, 105.08 on 21st September 2020 on account of seven debtors.

 

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *