Nigerian Customs Warns Banks of Sanctions for Revenue Collection Delays

The Nigerian Customs issued a warning to banks regarding the timely remittance of collected revenue. Banks failing to remit custom revenue within the approved timeframe will face penalties, including interest charges.

Abdullahi Maiwada, the spokesperson for Customs, highlighted the importance of adherence to service level agreements and emphasized the need for strict compliance with remittance timelines to ensure efficient revenue administration. The statement also cautioned against unauthorized account payments and outlined the consequences of non-compliance with regulations.

The Customs reaffirmed its commitment to protecting government revenue and supporting economic development.