- Maiwada disclosed that any bank found delaying remittances would be subjected to penalty charges
- The Customs spokesperson warned that repeated defaults could attract tougher regulatory and administrative actions
- He further cautioned that payments made into unauthorised accounts, whether intentional or accidental, would be treated as serious infractions
The Nigeria Customs Service (NCS) has begun enforcing sanctions against designated banks that fail to remit collected customs revenue within approved timelines.
Eko Hot Blog reports that the announcement was made in a statement issued on Wednesday by the Service’s National Public Relations Officer, Deputy Comptroller Abdullahi Maiwada.
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Maiwada disclosed that any bank found delaying remittances would be subjected to penalty charges calculated at three per cent above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the duration of the delay.
He explained that affected institutions would be formally notified of the outstanding sums, penalties incurred and deadlines for settlement.
According to the NCS, recent reconciliations carried out through the B’odogwu revenue platform revealed cases of delayed transfers by some designated banks, a development the Service described as a violation of existing remittance agreements.
The Customs spokesperson warned that repeated defaults could attract tougher regulatory and administrative actions, stressing that prompt and accurate revenue remittance is a core obligation under the Service Level Agreement (SLA) signed with participating banks.
He further cautioned that payments made into unauthorised accounts, whether intentional or accidental, would be treated as serious infractions and handled in line with relevant laws and contractual provisions.
Maiwada reaffirmed the agency’s commitment to protecting government revenue, strengthening accountability and promoting transparency in support of Nigeria’s economic growth.
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