Fresh tension may be brewing between the Nigeria Customs Service (NCS) and deposit money banks (DMBs) over delays in remitting collected government revenue, a development that could mirror the prolonged dispute between telecommunications operators and banks over unpaid USSD charges.
The NCS, yesterday, said it had commenced the enforcement of penalties against commercial banks that failed to remit customs collections within agreed timelines, citing repeated breaches of contractual obligations.
In a statement, the Service said it was concerned about recurring delays by designated banks after reconciliation of funds processed through its B’odogwu electronic platform, warning that such lapses undermine transparency and efficiency in government revenue administration.
Deputy Comptroller of Customs and National Public Relations Officer, Abdullahi Maiwada, said the action was in line with the Service Level Agreement (SLA) signed with banks appointed to collect customs revenue on behalf of the Federal Government.
According to him, any bank that fails to remit collections within the stipulated period would be required to pay penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the duration of the delay.
“Banks affected by this enforcement will receive formal notifications detailing the delayed amounts, applicable penalties and timelines for settlement,” Maiwada said.
He warned that repeated violations of the SLA could attract more severe sanctions, including regulatory and administrative measures, as provided under existing agreements and relevant laws guiding customs revenue collection.
The Service also cautioned against the payment of collected revenue into unauthorised accounts, describing such actions—whether deliberate or accidental—as serious violations that would be addressed in line with the SLA and applicable legal frameworks.
Reiterating the importance of prompt remittance, the NCS urged designated banks to strengthen internal controls and ensure strict compliance with agreed timelines.
Customs revenue remains a critical component of the Federal Government’s non-oil earnings, supporting budget implementation and development programmes. In recent years, the Service has intensified reforms aimed at automation, monitoring and reconciliation of collections, including the deployment of digital platforms to curb leakages and boost efficiency.
The latest enforcement drive aligns with broader efforts by revenue-generating agencies to enhance remittances and support the government’s revenue mobilisation agenda. The NCS is targeting N10 trillion in revenue this year, having generated about N3.6 trillion in the first half.
