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Nigerian Senate

N30tn probe: Adeosun, CBN, Customs, others to appear before Senate tomorrow

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For alleged N30 trillion import duties infractions, the Senate Committee on Customs, Excise and Tariff has summoned Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, Finance Minister, Kemi Adeosun, and some involving banks.

The seating will hold on Tuesday at the Committee’s hearing conference room by 10:00AM according to details gathered by Business Hilights on Sunday.

Other critical bodies expected at the hearing include Managing Directors of all commercial banks, Federal Inland Revenue Service (FIRS), the Nigeria Customs Service and Corporate Affairs Commission (CAC).

Chairman of the Committee, Senator Hope Uzodinma, representing the good people of Orlu Senatorial Zone of Imo State in an interview with Business Hilights in Abuja stressed that that the invitation was part of ongoing investigation on the issues.

It would be recalled that the lawmaker recently delivered a tailored and robust amendment of the Customs Act which was passed by the Senate.

According to him, “The Governor of the CBN has been directed to appear with the managing directors of all commercial banks responsible for collecting Import Duties and levies on behalf of the Federal Government”.

“All managing directors are expected to be here in person as the committee will not allow representation.

“We will also invite FIRS that has the statutory responsibility of ensuring that all taxable issues are resolved as and at when due.

“We are also inviting CAC that has the identity of the operating companies in Nigeria. The Nigerian Customs Service, the Department of Trade and Exchange of the CBN are expected at the meeting.

“We will meet to discuss our findings with them and ask questions. We will then move into companies that are currently operating what we call cartel in the country.

“These companies have evaded so much taxes running into so much money that government would have used for the provision of social services and critical infrastructure.

“You will recall that the Senate mandated the committee to investigate the entire import and export value chain.

“This is with a view to identifying areas of revenue leakages and to what extent all these monies have been carted away.

Continuing, he revealed that his committee had before no, done serious preliminary investigation and we have identified areas of infractions and we have collected necessary documents from relevant agencies of government and the private sector.

While expressing confidence that the committee would recover, if not all, but a chunk of the monies it was investigating, Uzodinma disclosed that his committee would further engage relevant anti-graft agencies to prosecute culprits to act as deterrent.


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