Tuesday 24th October, 2017
Translate Language:::

NCS misses N937bn 2016 target, blames CBN

NCS misses N937bn 2016 target, blames CBN

The Nigeria Customs Service (NCS) generated a total of N898 billion, including Value Added Tax (VAT) in 2016, missing its set target of N937 billion by N39 billion and also dipping by N6 billion from the 2015 revenue.

Making this disclosure, the NCS spokesman, Mr. Joseph Attah, attributed the shortfall to the Federal Government’s import and forex policies, which made access to foreign exchange difficult for importers, just as the Central Bank of Nigeria (CBN) excluded some 41 import items from the foreign exchange window.

Commending the capability of the Comptroller-General, Col. Hameed Ali (rtd) in even driving the revenue to such extent, he explained that the agency was given a N937 billion revenue target for 2016.

According to him, “the strict insistence of the Comptroller-General on application of extant laws enabled the service to generate a total that is inclusive of VAT of N898 billion. If VAT is removed, duty collection only is N720 billion, our performance represents 76.90 per cent. Hopefully, we will do better in 2017.”

Meanwhile, the Seme Area Command has arrested two suspects, Morufu Salau and Saliu Adaramaja, for allegedly concealing and smuggling 550 cartons of frozen poultry products in a truck.

In a statement, the command’s Public Relations Officer, Mr. Taupyen Selchang, said the confiscated products with a Duty Paid Value (DPV) of N6, 048,680 was intercepted along Mosafejo axis “through intelligence.”

According to him, a patrol team led by the Chief Superintendent of Customs, Mr. Ozah Mathew, made the seizure on January 4, 2017when the truck was coming out of the creeks.

“The imported frozen poultry product was arrested in a blue Volvo truck with Reg. No FKJ 359 XJ,” he said. “The truck compartment used was well constructed for the purpose of concealment as it is physically seen empty on sighting the inside.”