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Home » News » How customs generated N1.2tr revenue for Nigeria in six months

How customs generated N1.2tr revenue for Nigeria in six months

Abimbola Fabunmi by Abimbola Fabunmi
6 months ago
in News
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The Nigeria Customs Service (NCS), has released the first half of the year’s operational results from January to June 2022.

The operational result shows that the NCS generated N1, 292,904,201,376 into the federation account.

The Public Relations Officer of Customs, Timi Bomodi, who disclosed at a press conference in Abuja, said the Service was given a 2022 revenue target of N3.019 trillion and that efforts were on to meet it.

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He said: “Between January and June 2022, we have been able to generate the sum of N1, 292,904,201,376.89 into the federation account as against the sum of N1,003,540,084,590.16 for the corresponding period in 2021. The amount generated surpassed our achievements of last year by N289,364,116,786.73 or 28.83%. This is even more remarkable given the fact that only 116,691 Pre-Arrival Assessment Reports (PAARs) were issued against 129,667 processed in the same period of 2021.

He said that tremendous success has been made in the area of Anti-money laundering and counter-financing of terror under the year in review.

“Seizures of $339,800 USD, British Pounds, 3,013,500 RYD, 20,005 CFA, and 133 ATM cards. Seven persons were arrested in violation of the Anti-Money Laundering Act and handed over to the Economic and Financial Crimes Commission (EFCC) for prosecution”, he explained.

He revealed that Customs, in June, commenced the collections of new tariffs from extant traders producing carbonated and sugary drinks, as newly-added under schedule 5 of the Common External Tariff (CET).

“So far, the Service has collected from carbonated and sugary drinks more than one billion Naira in June.

“Other revenues from telecommunication (call and data), and digital network services are yet to be collected. NCS is expected to start collecting revenue on these products and services as soon as the modalities for collection are put in place”, he revealed.

On anti-smuggling activities, Bomodi said various goods with a total Duty Paid Value (DPV) of N39,174,678,983.00 were seized due to regulatory and policy infringements.

“The top seven items seized are narcotics and other illicit drugs with a DPV of N8,768,311,517.00, followed by foreign parboiled rice with a DPV of N8,251,353,292.00, and illegal imports of dangerous pharmaceuticals with a DPV of N7,630,764,524.00. Other items are used clothing with a DPV of N4,051,244,924.00, petroleum products with a DPV of N3,698,181,138.00, textiles, and made-up fabrics with a DPV of N2,561,361,989.00 and motor vehicles with a DPV of N1,853,084,115.00. The DPV value of seizures in the current year exceeds that of seizures made in 2021 by a whopping N34,752,130,003.00

On recruitment, Bomodi said plans were afoot to conduct another computer-based test for candidates in areas that recorded low turnout in the hitherto held recruitment examination.

 

Tags: Federation AccountFirst half of the yearN1.2tr revenueNCS
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