The Nigeria Customs Service has commenced enforcement of penalties against designated banks that delay the remittance of Customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.

The Service stated that It had observed instances of delayed remittance by some designated banks after the reconciliation of collections processed through its B’odogwu electronic platform, noting that such delays constitute a breach of the agreed-upon obligations.

In a statement issued on Wednesday by the Deputy Comptroller of Customs and National Public Relations Officer, Abdullahi Maiwada, the Service said the delays undermine the efficiency, transparency and integrity of government revenue administration.

According to the statement, the enforcement action is in line with the provisions of the Service Level Agreement executed between the NCS and designated banks responsible for collecting customs revenue on behalf of the Federal Government.

The statement read, “The Nigeria Customs Service has noted instances of delayed remittance of Customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform.

“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.

“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”

The NCS disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.

It added that affected banks would be formally notified of the delayed amounts, the applicable penalty and the deadline for settlement.

“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.

“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.

The Service warned that persistent or repeated violations of the SLA could attract stiffer sanctions, including regulatory and administrative measures, as provided under the agreement and relevant laws guiding customs revenue collection.

The NCS further cautioned that any payment of collected revenue into unauthorised accounts, whether deliberate or due to error, would be treated as a serious violation and addressed in line with the SLA and applicable legal frameworks.

The Service advised designated banks to strengthen their internal control mechanisms, ensure strict compliance with remittance timelines and fully adhere to the terms of the agreement.

It reaffirmed its commitment to enforcing accountability, protecting government revenue and promoting a transparent and predictable financial system to support national economic development.

“The NCS reiterates that prompt, accurate, and complete remittance of Customs revenue is a fundamental obligation of Designated Banks.

“Any payment of collected revenue into unauthorised accounts, whether deliberate or erroneous, will be treated as a serious violation and addressed in accordance with the SLA and applicable legal frameworks.

“Designated banks are therefore advised to strengthen internal controls, ensure strict adherence to remittance timelines, and comply fully with the provisions of the SLA. The Service remains committed to enforcing accountability, safeguarding government revenue, and promoting a transparent and predictable financial system in support of national economic development,” the statement concluded.

Customs revenue remains a critical component of the Federal Government’s non-oil income, funding key budgetary and development priorities. In recent years, the NCS has intensified reforms around automation, monitoring and reconciliation of collections, including the deployment of digital platforms such as B’odogwu, to reduce leakages and improve efficiency.

The latest enforcement action comes amid broader efforts by revenue-generating agencies to tighten controls, boost remittances and support the government’s drive to improve fiscal discipline and revenue mobilisation.

The NCS has a revenue target of N10tn for 2025, and has collected N3.6tn of its target in the first half of 2025. (The PUNCH)

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