NewsExpress banner Firstbank Verve banner Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

N30 trillion revenue scam: Senate to hand over erring firms to EFCC

By Azimazi Momoh Jimoh, Abuja on 04/10/2017

Gmail icon

Views: 1,091

•Joint Investigation Committee Chairman, Senator Hope Uzodinma
•Joint Investigation Committee Chairman, Senator Hope Uzodinma

The Senate Wednesday announced that it has concluded plans to hand over companies found culpable in its investigation of alleged N30 trillion revenue scam in import and export value chain to the Economic and Financial Crimes Commission(EFCC) for prosecution.

The Chairman of the Joint Committee on Customs, Excise and Tariff and Marine Transport which conducted the investigation, Senator Hope Uzodinma, made this known in an interview with journalists in Abuja on.

He said those to be handed over to the EFCC were those found to have manipulated the foreign exchange procedure and those involved in money laundering, round tripping and abuse of foreign exchange manual.

Uzodinma also stated that the committee would pass all established evidence against the companies to the commission for immediate prosecution. The companies with established cases of infractions within the import, export value chain, he said, would be referred to the Nigeria Customs Service for blacklisting.

“We have also established another department of the investigation, which is an abuse of fiscal policies from Federal Ministry of Finance.

“Most of these companies that have applied and gotten approval as manufacturers of different products, assemblers of various products but import finished goods in the name of CKD will be charged for an economic crime.”

He continued: “We are going to follow up the prosecution with all evidence available to us.As we are about concluding our investigation on the 60 selected companies being currently investigated, it is very clear that so many collectable revenues are still hanging.

According to Uzodinma, “These are monies that government would have used to ease governance and provide necessary infrastructure and amenities to the citizenry.

“So, this committee will not sit back and allow the economy to crumble.  This is just 60 selected companies. We are visiting over 1000 companies,” he said.

The lawmaker said of the 60 companies in its first phase of the investigation, the committee had been able to interact with 50 while 10 of the companies were on the run.

He vowed that the committee would ensure that those companies were fished out by the relevant security agencies.

On the funds recovered so far, Uzodinma said a significant amount of money had been returned by some companies.

He said “many of those companies have paid partially. I know that with the evidence we have against them we are confident that these companies are now aware that we caught them.

“We cannot let go of what belongs to the government.”

On the delay in concluding the ongoing investigation, the lawmaker assured that interrogating the remaining companies would be faster than the first 60.

According to him, the process of interrogating the remaining companies will be faster.

The lawmaker added that the committee took time to carry out the preliminary investigation because it needed to establish the necessary benchmark.

He stressed that “now that we have all that and the modus operandi has been established we will put it on autopilot and it will be faster.” (The Guardian)

Source News Express

Posted 04/10/2017 9:21:22 PM

 

 

CLASSIFIED ADS

 

You may also like...
Bayelsa Polls: PDP faults Sylva’s letter to INEC,...

Archbishop of Canterbury (Buhari’s ally) laments attacks on...

Gen. Kukasheka replaced as Army Spokesperson, proceeds to...

Mueller resigns, explains why he didn’t indict President...

Change Movement translates Nigerian Constitution into Igbo Language...

Wike orders arrest of Biafra agitators

2019: Atiku, Kwankwaso, Tambuwal, others jostle for NIM...

Abacha Family puts 65 posh cars up for...

RIGHTSView, By EMMANUEL ONWUBIKO: Fight cyber-crime, avoid police...

Wike given seven days ultimatum to reopen Rivers...

First class monarch kidnapped, killed in Delta

300 doctors flee Nigeria

 

Latest News BREAKING! Pandemonium in Awka as Vigilante chief shot dead •Residents scamper for safety Nnamdi Kanu’s lawyer sues police, demands N2bn compensation FG freezes Sahara Reporters' bank account Police arrest four persons for shooting herdsman in Ogun Soldiers kill robbery suspects in Aba Boko Haram fighters killed as NAF launches ‘Operation Rattle Snake’ Security: Lagos to build new control centre, install over 2,000 cameras – Sanwo-Olu One dead, many injured as trailer crushes several vehicles in Abuja Banks that denied Smart loans are queuing up to offer him money since he got in the Senate Sex worker brings python into court Senate asks FG, States, LGs to declare emergency on unemployment Kogi launches emergency transport scheme for pregnant women

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (571,262 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (456,363 views) Shameless Genevieve Nnaji exposes breasts in public (406,265 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (341,333 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (307,637 views) 10 cars more expensive than Jets (291,927 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (261,205 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (260,242 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (241,662 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (228,212 views) Lagos plane crash: Journalist releases victims’ names (203,902 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (200,308 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (111) Business & Economy (4,619) Business Verdict (89) Columnists (1,156) Complaints & Requests (97) Enterprise & Opportunities (221) Entertainment (717) Features (855) Global Business Monitor (497) ICT Monitor (73) International (4,319) Interview (219) Live Commentary (30) Love Matters (178) Maggie's Blog (514) News (55,125) Opinion (1,438) Pidgin (18) Politics (11,873) Religion (1,133) Sports (2,253) Stock Watch (41) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera