The Nigeria Customs Service said Wednesday it has begun enforcing penalties against banks that delay sending collected customs revenue to the government.
The service said reconciliations of collections processed through the B’odogwu platform showed “instances of delayed remittance of Customs revenue by some Designated Banks.”
It called such delays “a breach of remittance obligations” that harm “the efficiency, transparency, and integrity of government revenue administration.”
In a statement signed by Abdullahi Maiwada, national public relations officer, the NCS said it will enforce “enforcement actions against banks found to be in default of agreed remittance timelines” under the Service Level Agreement with the banks.
Any bank that fails to remit revenue within the prescribed period will be “liable to penalty interest calculated at three percent (3%) above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the duration of the delay,” the statement said.
Affected banks will receive formal notices listing the delayed amount, the penalty and the timeline for settlement.
The NCS warned that “persistent or repeated non-compliance” may attract “additional sanctions, including regulatory and administrative measures” under the SLA and the law.
It said any payment of collected revenue into “unauthorised accounts” will be “treated as a serious violation.”
The service urged Designated Banks to “strengthen internal controls,” ensure “strict adherence to remittance timelines,” and comply with the SLA.
Maiwada said the NCS is committed to “enforcing accountability” and “safeguarding government revenue.”
The NCS promised to release more information and updates to the public soon.
