Categories: BusinessOn the Go

Reps panel probes ‘massive importation fraud’ by companies

Author:
Chinedu Asadu

The house of representatives committee on customs has commenced investigations into alleged massive fraud by some companies through breach of importation procedures.

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James Faleke, chairman of the committee, disclosed this to journalists on Tuesday.

The alleged breach is said to have led to a huge loss of revenue accruing to the federation account.

Faleke said the committee has invited the companies involved to prove to present their case in a fair hearing.

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He said: “You recall the house in plenary on December 9, 2017, mandated the committee to investigate these alleged infractions of import procedures leading to monumental loss of revenue to the nation.

“The committee is determined to carry out a thorough forensic investigation in line with its mandate.

“The unpatriotic and fraudulent act of some of these companies had cost the nation a lot financially. We are talking of losses probably in trillions of naira that should have accrued to our common purse.”

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He described the committee’s mission as a “patriotic” one aimed at recovering “our collective patrimony from unpatriotic elements and corporate entities”.

The lawmaker added that the investigative hearing starts from March 7, “and all the companies invited are expected to appear on the date allotted to them unfailingly or risk sanctions.”

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