House Queries Customs Over Meagre Revenue Projection
BEVERLY HILLS, February 20, (THEWILL) - The House of Representatives Thursday picked holes in the figures presented by the Nigeria Customs Service (NCS) as its expected revenue for the 2014 fiscal year.
Chairman of the House Committee on Finance, Hon.
Abdulmumini , who made the position of the House known said the N18.
557 million projected by the service as internally generated revenue for the year 2014 was meagre and unacceptable considering the status of the agency.
Jubril noted that the projected figure was abysmal, too low and conservative.
The Comptroller General of Customs, Alhaji Abdullahi Inde Dikko, had told the committee that the NCS generated the sum of N33.
04 million in 2011, N12.
3 million in 2012 and N2.
27 million in 2013, adding that NCS has projected the sum of N18.
557 million for 2014.
Represented by the Deputy Comptroller General of Customs, in charge of finance, administration and technical services, John Atte, the CGS said only the 2013 account was audited as that of 2011 and 2012 were still in process.
Other agencies that appeared before the committee were the Corporate Affairs Commission (CAC), Federal Inland Revenue Services (FIRS), Raw Materials Research and Development Council (RMRDC) and Nigeria Customs Service (NCS).
In its submission, RMRDC revealed that it generated the sums of N9.
4 million in 2011, N17 million in 2012 and N15.
7 million in 2013, adding that the operating surpluses for 2011 and 2012 were N10.
5 million and N7.
114 million, while that of 2013 was still being waited for as a result of the audit, which is still ongoing.
Speaking during an interactive session between the House Committee of Finance and the revenue generating agencies, Bello Mahmud, CAC Registrar General, disclosed that CAC, which generated the total sum of N26.
59 billion in the years under review, could not make a single remittance into the Consolidated Revenue Fund (CRF).
Mahmud, who said CAC had no surplus during the years, explained that the commission was constrained by staff salaries and other allowances.
'Our revenue would have been more, but the Federal Government granted N2.
6 billion waivers to companies,' he added.
In his presentation, Mahmud disclosed that CAC generated the sums of N7.
2 billion in 2011, N9.
657 billion in 2012 and N9.
74 billion in 2013.
Mahmud, who hinted that CAC had made a projection of N13 billion IGR for 2014, added that the commission has projected to release the sum of N600 million into the CRF.
In his presentation, the acting executive chairman, FIRS, Kabir Mashi, submitted that the service generated the sum of N91.
25 billion during the year under review, despite having a surplus of N3.
269 billion in the same period.
SAINT MUGAGA, ABUJA