N30tr: Several Firms Found Culpable in Revenue Fraud, Senate Committee Claims


By Damilola Oyedele in Abuja

The Senate Joint Committee on Customs, Excise and Tariff, and Marine Transport has claimed that it has found several companies culpable in its ongoing investigations into revenue leakages amounting to about N30 trillion in Nigerian Customs Services (NCS) and other agencies.

The committee also said its investigations have led to the recovery of more than N120 billion from some of the companies.

The Chairman of the Committee, Senator Hope Uzodinma, in a statement issued Friday, said the committee had resolved to direct the NCS to issue Demand Notice (DM) to the culpable firms, to make sure the monies were returned to the Federal Government.

Uzodinma who did not list the names of the affected firms, noted that companies found to have been involved in round tripping and money laundering, would be charged to court with immediate effect.

“The committee has also resolved that companies that fail to appear before it despite the window of opportunity to appear before it Monday next week, would be made to face the full wrath of the law,” the Chairman said.

He listed the companies to include A-Khenal Integrated & Logistics Ltd, Don Climax/Skyaim, Gagsel International, Africa Tiles and Ceramics, Dana Group, Network Oil & Gas, IBG Investment Ltd, BUA International Ltd, Huawei Technologies, Indorama Petrochemicals, StarComms Plc, African Industries and African Wire and Allied.

Uzodinma further noted that the committee has taken the first batch of 61 companies, out of over 2000.

It should be recalled that the committee, at its initial hearing, alleged that revenue worth over N30 trillion has been lost to activities of a cabal at the ports who connive with officials to carry out the infractions in daily transactions at the ports, commercial banks, shipping companies, terminal owners and operators