Lagos, Sept. 8, 2023: The Nigeria Customs Service (NCS) has deactivated some authorized dealer banks that failed to remit customs duty and other statutory charges.
The acting Comptroller General of NCS, Adewale Adeniyi said in a statement in Lagos on Thursday that the dealer banks failed to meet the Service-Level Agreements (SLAs) with the NCS.
According to Adeniyi, the decision was taken following thorough audit and due process, in line with the NCS’s commitment to upholding transparency, accountability and efficiency in revenue collection.
“The primary objective is to ensure accurate and timely remittance of customs duties and other essential funds for national development,” he said.
Adeniyi assured that despite the deactivation of the banks, measures had been implemented to minimise disruptions for importers and stakeholders within the trading ecosystem.
He assured the trading community that all pending assessments would undergo clearance processes in line with international best practice.
“Importers who previously relied on the deactivated banks for duty payments are advised to utilize other Authorized Dealer Banks that comply with NCS regulations.
“Stakeholders encountering challenges with a particular bank are encouraged to use alternatives that function appropriately,” he said.
Adeniyi said that the banks would only be reactivated if they meet all regulatory requirements and settle outstanding remittances.
“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 priority on trade facilitation, putting stakeholders and Nigerian citizens first, even in the face of non-compliance by some Authorized Dealer Banks.
“This action underscores the NCS’s commitment to maintaining a fair and transparent customs revenue collection process,” he said.