FEATURED
UBA, Ecobank, Wema Bank In Alleged Multi-billion Naira Customs Duty Collections Default, Quizzed By Reps Panel
The House of Representatives Committee on Customs and Excise has quizzed six banks over their failure to remit Customs duty collected into the federal government’s coffer.
The six banks are UBA, Ecobank, GT Bank, Wema Bank, Providus Bank and Standard Chartered Bank.
The committee, chaired by Rep Leke Abejide at its resumed hearing on Wednesday, gave the banks two weeks to reconcile their accounts with the consultant working with it or risk removal from duty collection.
Rep Abejide threatened the committee will direct the Central Bank of Nigeria (CBN) to deduct all outstanding obligations due to the government from the accounts of the respective banks.
The chairman of the committee said its interim report showed that Ecobank had an outstanding commitment of N4.39 billion just as he said the bank was yet to provide the remittance data of defunct Oceanic Bank, which Ecobank acquired in 2011.
The committee also said that Standard Chartered Bank had an outstanding remittance of N2.44 billion while Providus Bank had an outstanding of N66.8 million to be remitted to the government.
United Bank of Africa (UBA) has an outstanding of N3.01 billion to be remitted to the government, according to the interim report.
The interim report of the committee indicated that GT bank just forwarded its account statement to the consultants, hence, no reconciliation yet.
Daily Trust reports that the committee has been holding investigative hearings into discrepancies in remittance of customs duty collected by the affected commercial banks.
(Daily Trust)
PTI Bloody Incident: Omo-Agege Accuses APC of Orchestrating Violence to Rig 2027 Polls
Makinde Receives Two Surveillance Aircraft, Partners Air Force to Bolster Oyo Security
OBOREVWORI’S IMPOSITION BACKFIRES AS APC LEADERS, MEMBERS BOO EDE DAFINONE IN DELTA CENTRAL, BY EJIRO AWHOTU
25-year-old Woman Allegedly Cuts Off Boyfriend’s Manhood After Learning He Wanted to Marry Another Woman
Sowore Drops Bid to Summon DSS Boss as AGF Challenges Subpoena in Defamation Trial
“DSS Mistook a Cat for Me” — Sunday Igboho Recounts Dramatic Escape During 2021 Raid
BREAKING: Appeal Court Voids Order Deregistering ADC, Four Other Political Parties
Atiku Condemns Kaduna Massacre, Says Nigerians Need Security, Not Promises
Oshiomhole Backs ‘Shoot Armed Criminals on Sight’, Says Insecurity Biggest Threat to Tinubu’s Re-election
Why Okowa Says Tinubu Deserves a Second Term to Solidify Nigeria’s Progress
US Warns Nigerians: Visa Expiry Date Does Not Determine How Long You Can Stay
We Have the Right to Deal With Illegal Migration— South Africa Fires Back at Nigeria
Fake Agency Saga: No Evidence Links Gbajabiamila to Alleged Fraud, Analyst Insists
Female Suspect Among Nine Phone Stealing Syndicate Nabbed in Asaba
