25.1 C
Monday, July 22, 2024

Customs CG provides strategies for meeting 2024 revenue target at RMFC

Must read

The Nigeria Customs Service has briefed the Revenue Mobilisation and Fiscal Commission (RMFC) on its various activities, procedures, and measures aimed at increasing revenue generation, fiscal efficiency, and blocking revenue leakages.

Comptroller-General of Customs (CGC) Bashir Adewale Adeniyi MFR made this known during a presentation on Wednesday, January 24, 2024, at the Revenue Mobilization Allocation and Fiscal Commission office in Abuja. He emphasized the need to build trust when collaborating with other government agencies to achieve objectives.

The CGC, pleading for support from the commission and other agencies, revealed that since his appointment in 2023, the service has taken significant steps in revenue recovery and addressing areas of possible revenue leakages.

He disclosed that there are agencies with legal provisions to stay at the port, and the NCS is actively collaborating with them to streamline processes, ensuring their presence doesn’t hinder trade facilitation.

However, he clarified that the goal is not to assign blame but to reduce the time and cost of conducting business in ports. “Looking at the target of 5.1 trillion naira, every naira and kobo we can collect, block, and remit is very important,” he emphasized.

“In two weeks, a time release study will be conducted in collaboration with the World Customs Organization (WCO) and other international partners to obtain a scientific study of clearing cargoes from the port.”

The CGC also announced the upcoming launch of a revenue recovery exercise initiated in 2023, which recovered over 17 billion naira within four months. He assured that the service would implement lessons learned from the beginning of 2024, particularly strengthening the Post-Clearance Audit (PCA) Unit.

Addressing challenges, Assistant Comptroller-General of Customs in charge of Tariff and Trade Caroline Niagwan outlined issues contributing to the 2023 shortfall.

In her paper presentation, Chief Superintendent of Customs (CSC) Ekanem Asuquo highlighted NCS’s core functions, the legal framework, and the need to calculate import duties accurately for proper payments.

The Chairman of the Revenue Mobilization Allocation and Fiscal Commission, Alhaji Bello Shehu, emphasized the Commission’s role in monitoring NCS activities. He sought NCS support to recover funds, improve revenue mobilization, block leakages, and advise the administration on measures to increase revenue generation for the Federation.

In collaboration with the Service, Alhaji Shehu expressed the Commission’s desire to investigate and recover unremitted funds, enhance training and manpower development, reduce non-compliant waivers, and participate in programs promoting revenue mobilization, such as retreats and workshops.

More articles


Please enter your comment!
Please enter your name here

Latest article