Business
FG moves to strip Customs of revenue collection role
The Federal Ministry of Finance, Budget and National Planning has called for the stripping of the Nigeria Customs Service (NCS) of the responsibility of revenue collection. It said the responsibility should be transferred to the Federal Inland Revenue Service (FIRS).
Stakeholders in the sector opposed the passage of the Customs and Excise Management Amendment Bill, saying several provisions in it were draconian and against global best practices.
Speaking at a public hearing, Permanent Secretary in the Ministry, Aliyu Ahmed said there was the need to unify revenue collection so that Customs can concentrate on its responsibility of trade facilitation.
He said, “The single most important function of the Customs Service anywhere in the world is trade facilitation. But in the introduction of the Chairman, I hear him talk about revenue, collection of revenue. This is the secondary service of the Customs all over the world.
“Revenue collection by Customs is a distraction. The reason is that the main function of the Nigeria Customs Service is trade facilitation. But the trade facilitation has been pushed to the background because of the focus on revenue collection. In other climes, the best practice is moving towards unifying revenue collection.
“If we want to go that far, and achieve that best practice, our submission would be to move revenue to the Federal Inland Revenue Service so that Customs Service can really focus on trade facilitation function.”
-
News7 days ago
Yahaya Bello: American International School Of Abuja Has Transferred $760,910.84 To EFCC Out Of $845,852
-
Politics7 days ago
Kogi: I didn’t pay $720,000 as school fees – Yahaya Bello
-
Politics7 days ago
Ondo Guber: PDP ‘ll win November election — Jegede
-
News7 days ago
Why people do strange, incredible things for love – Psychologist
-
Entertainment7 days ago
Davido on earning $1.3 million after NY performance
-
News7 days ago
Abia Speaker defies court order, declines inauguration of PDP lawmaker-elect
-
Politics4 days ago
Kogi gov, Ododo used immunity to protect Yahaya Bello from EFCC arrest – Oshiomhole
-
Politics4 days ago
Former IYC Scribe Congratulates Hon. Maxwell Ebibai on Reappointment as Bayelsa Commissioner for Finance.