The Nigeria Customs Service (NCS) has moved to clamp down on revenue leakages within the banking channel, warning that financial institutions entrusted with government revenue will now face penalties for delays that compromise accountability and public finance discipline.
The Service said it has identified lapses by some designated banks that fail to remit Customs revenue promptly after reconciliation, a practice it described as undermining confidence in revenue administration and weakening the integrity of government financial systems.
Customs stressed that the enforcement action reflects a broader effort to protect public funds, strengthen transparency, and ensure that institutions handling government funds fully discharge their responsibilities under agreed operational frameworks.
The warning was contained in a statement issued on Wednesday by the Deputy Comptroller of Customs and National Public Relations Officer, Abdullahi Maiwada, who said the delays followed reconciliations conducted through the Service’s B’odogwu electronic platform.
“The Nigeria Customs Service has noted instances of delayed remittance of Customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement said, adding that such actions breach obligations set out in the Service Level Agreement (SLA).
Customs disclosed that defaulting banks will incur penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay, noting that affected institutions would receive formal notices stating delayed sums, penalties and settlement deadlines.
“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay,” the statement said.
The Service warned that repeated violations could attract stiffer regulatory and administrative sanctions, while payments made into unauthorised accounts, whether deliberate or erroneous, would be treated as serious breaches under the agreement and applicable legal frameworks.
Customs advised designated banks to strengthen internal control systems, adhere strictly to remittance timelines, and comply fully with the SLA, reaffirming its commitment to safeguarding government revenue and promoting a transparent financial system.
“The NCS reiterates that prompt, accurate, and complete remittance of Customs revenue is a fundamental obligation of designated banks,” the statement added, stressing that accountability remains central to national economic development efforts.
