Senate Questions Customs Over N4trn Revenue Leakage In 10 Years

By
Speaking on Sunday with newsmen in Abuja, the Chairman of the Committee on Customs, Excise and Tariff, Sen. Hope Uzodinma, said that the committee would stop at nothing in recovering the money, which was lost to lapses and various infractions.
Uzodinma further explained that preliminary investigation by the committee revealed that the over N4 trillion revenue leakage was due to abuse and non-implementation of Form M (Foreign Exchange forms).
He added that wrong classification of cargo under HS Code (Harmonised System Codes), non-screening of cargoes coming into Nigeria and lack of adequate ICT infrastructure for revenue collection, were equally responsible.
The chairman added that cancellation of pre-arrival assessment reports and abandonment of single goods declaration were equally responsible for the leakage.

Comments

Post a Comment

popular posts on this blog

10 Richest Women in the World in 2017

By
Image
Forbes' recently released list of the world's wealthiest women with Liliane Bettencourt of France claiming the No. 1 spot yet again.  According to Forbes, Bettencourt has a net worth of $39.5 billion making her the richest woman in the world. Nearly all her wealth comes from owing a third of the cosmetic company L'Oreal, which her father founded in 1907.   The French heiress is followed by Alice Walton, the only daughter of Sam Walton, the founder of Walmart. Walton, who boasts a whopping $33.8 billion, retains her No. 2 spot from 2016, though her wealth has grown by $1.5 billion this year. Jacqueline Mars, the granddaughter of the famed candy maker Frank Mars, comes in at No. 3 at $27 billion the same ranking she held last year. See the full list below.... 1. Liliane Bettencourt Net worth: $39.5 billion 2. Alice Walton Net worth: $33.8 billion 3. Jacqueline Mars Net worth: $27 billion 4. Maria Franca Fissolo Net worth: $25.2 billion 5....
Read more

Apology for long time Absence

By
Image
Am very sorry for the long time Absence in posting and also for failure of notification before hand, this was  due to some personal problems which by God's grace has been solvedwhich means am back full time, to continue giving u my readers all the quality  and firsthand updates as usual ...
Read more

Whyte: I Will Knock Out Parker

By
Image
Whyte returns to the ring against Mariusz Bach come June 3, after his narrow win against Chisora. However, Dillian only wants to fight Joseph Parker, as he wants a shot at the title. “If I fight Joseph Parker I believe I will knock him out and become the WBO champion,” Whyte told Sky Sports. “I say that from my heart and from deep in my soul. I honestly believe that. I will knock Joseph Parker out and become WBO champion. I don’t see anything there that worries me at all. Nothing. “Joseph Parker is a big fish in a small pond. He has said he wants to come to the UK and make a name for himself so I think I’m the perfect fight for him.”
Read more