Monday, August 6, 2018
Advertisement

Customs generates N239bn in Q1 — ‘exceeding target’

Customs generates N239bn in Q1 — ‘exceeding target’
June 27
07:06 2017
Advertisement

The Nigerian Customs Service (NCS) generated N239.4 billion in the first three months of this year, according to the federal ministry of finance.

The revenue performance for the first quarter exceeded the target of N193.2b set by the NCS.

The breakdown is contained in a document obtained by NAN, which shows the activities of the ministry of finance in the last two years.

According to the document, the Customs was able to exceed its target through a reform programme aimed at restructuring the agency, re-orientation of its officers, removing defects and adopting simplified procedures in its activities.

“The NCS collected N904.07bn in 2015 against a target of N944.4bn; the total collection in 2016 was N898.67b against the target amount of N973.3bn.

“Between January and March 2017, the NCS was able to generate N239.4b, thereby exceeding the target of N193.22b set for the period,” it said.

The service also said it had complied with a presidential directive to deliver all seized perishable goods to the internally displaced persons affected by the insurgency in Borno, Yobe, Adamawa and Benin camps.

It said the reforms embarked upon by the government had started yielding results as there is a strict compliance with rules governing the operations of the NCS, adding that a standard operational procedure had been developed to ensure transparency and accountability.

The service also said it had strengthened international engagements with the World Customs Organisation and the World Trade Organisation for trade facilitation and optimum revenue collection.

It added that a compliance team had been set up to ensure conformity with trade regulations adding that this would help to block all illegal routes for smuggling.

RECEIVE ALERTS FROM THECABLE

BBM CHANNEL C0038F78B
WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2018 TheCable. Permission to use quotations from this article is granted subject to appropriate credit being given to www.thecable.ng as the source.
Tags
Advertisement

Social Comments

1 Comment

  1. Dan
    Dan June 27, 19:30

    Great!
    Unlike previous remittance of 2-3 billion

    Reply to this comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement

Exchange Rates

August 06, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
Advertisement
Advertisement
Advertisement