• Partners FAAN to exit Nigeria from FATF grey list

Nigeria Customs Service (NCS) has revealed that over N2 billion has been recovered from major infractions, such as under-declarations, duty evasion, and violations of customs procedures by several bonded terminals and importers.

This followed the closure of some bonded terminals as fallout from uncompromising anti-smuggling operations and numerous irregular transactions.
Speaking at the Apapa Port in Lagos at the weekend, the Comptroller-General of Customs, Bashir Adeniyi, disclosed that a recently established Post-Clearance Audit (PCA) Unit, flagged numerous irregular transactions and uncovered major infractions by several bonded terminals and importers.
He said audits revealed significant underpayments and violations of customs laws.

“Some transactions were flagged, carried out in bonded terminals, and they led to the recovery of close to N500 million. Just before I left Abuja, another N1.5 billion was recovered, and we expect an additional N1.6 billion before month end,” he disclosed.

Adeniyi announced the suspension and review of licences of bonded terminals implicated in the irregularities uncovered during recent post-clearance audits.

The customs boss declared that pharmaceutical imports would henceforth only be cleared through the Apapa Port, Onne Port, the Murtala Muhammed International Airport (MMIA), and the recently added PTML terminal.

MEANWHILE, the Federal Airports Authority of Nigeria (FAAN) and the Nigeria Customs Service (NCS) are collaborating to combat money laundering and remove Nigeria from the Financial Action Task Force (FATF) grey list.

FATF is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering. In 2001, its mandate was expanded to include terrorism financing.

FAAN Managing Director, Mrs Olubunmi Kuku, said both agencies were working closely to reduce illicit financial activities across Nigeria’s borders.
She disclosed this at the weekend during a joint tour of the cargo terminal at Murtala Muhammed International Airport (MMIA) in Lagos.

Kuku said the partnership targets currency declarations exceeding the $10,000 threshold, both for passengers arriving and departing Nigeria. She advised all travellers to declare any currency above $10,000 when entering or leaving the country.

Kuku noted that several measures had already been implemented, including enhanced security screening and improvements to passenger processing. She said efforts were ongoing to reduce multiple checkpoints and streamline passenger movement through upgraded procedures.

Kuku confirmed the NCS, through its Controller General, had committed to improving security and passenger service. She observed increased cargo activity nationwide, prompting a need for enhanced security and improved operational efficiency.