Nigeria’s House of Representatives has claimed that the Nigerian customs service is losing the sum of $8.810 billion annually due to the non-implementation of a Customs modernisation project.
This was made known by Rep. Leke Abejide, Chairman, House Committee on Customs and Excise at the public hearing of the Joint Committees on Customs and Excise, Finance and Banking and Currency with the Minister of Finance, Mrs Zainab Ahmed, represented by Director, Home Finance, Stephen Okon.
The Ministry disclosed that a pending court case had delayed the implementation of the project.
The lawmaker stated that the project is expected to generate $176.2 billion during its 20 years concession period and is expected to automate the activities of the NCS, and also prevent revenue leakages.
The Finance Minister responded that there were pending court cases which had delayed the implementation of the project.
According to the minister, “The suits were three and as such the project could not continue, the pending cases were impeding the commencement of the e-Customs Project.”
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate