Unic Press UK: The Nigerian Senate’s Committee on Customs is alarmed at the non-remittance of surplus revenue to the Treasury, the Premium Times has reported.
During an interactive session with the Committee, the deputy Comptroller-General (DCG), Human Resources, Sanusi Umar, who represented the Comptroller-General of Nigeria Customs Service (NCS), Hameed Ali, disclosed that within the past five months, the NCS generated ₦573 billion in revenue, and this amount is in excess of 50% of its ₦957 billion targeted revenues in 2020.
On the issue of non-remittance of revenue, including surplus revenue to the treasury, Mr Umar said: “Customs is now a performance-based agency. We are not a treasury-sponsored agency, which normally makes a return to the treasury of any amount not spent. Where we have any shortfall, we don’t have anybody backing us and we cannot borrow from the bank”.
The position of the NCS on remitting revenues appear to negate the Treasury Single Account (TSA) policy of the Government, which makes it mandatory that all revenues generated by the agencies of the Federal Government be paid into a TSA maintained by the Central Bank of Nigeria.