The Federal Operations Unit Zone C of the Nigeria Customs Service (NCS) has reported that it seized contrabands worth N7.6 billion between January 25 last year and April 19th this year. The outgoing Controller of the Zone, Comptroller Kayode Kolade, who gave these figures in his farewell message during a brief handover to his successor, […]
The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has disclosed that a total sum of N7,314,129,314,386.08 accrued into the Federation Account in fiscal year 2023. The figures were contained in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) titled “CBN Federation Account Component Statement”. In a […]
Tin Can Island Command of the Nigeria Customs Service (NCS) has reported revenue collections in the first quarter of this year totalling N303.9 billion, representing about N177.1 billion above the N126.9 billion it raked in the corresponding quarter of 2023. Available statistics on the Command’s revenue profile for the quarter under review based on a […]
The Nigerian Customs Service’s (NCS’) foreign exchange (FX) rate for cargo clearance and import duties collection has dropped from N1,572.5/$ to N1,448.38/$1, representing a decline of N124.12 from last week’s rate. The latest FX rate of the revenue agency is reflected on the Central Bank of Nigeria’s (CBN’s) official window. Over the past weeks, the […]
The Nigeria Customs Service (NCS) and the Joint Tax Board (JTB) have signed a Memorandum on Understanding (MoU) aimed at strengthening their collaboration in the current drive by the fiscal authorities to enhance tax administration at all tiers of government in the country. The deal was sequel to an earlier meeting held on the 16 […]
The Central Bank of Nigeria (CBN) has increased the foreign exchange (FX rate) for clearance of goods at different import points from N1593.84/$1 to N1612.28/$1, representing N18.44 increase. The latest FX rate displayed on the Nigeria Customs Service’s (NCS’) portal indicated that the latest FX rate was introduced on Monday, March 11. According to the […]
The Central Bank of Nigeria (CBN) at the weekend announced the pegging of the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. Specifically, the apex bank in a circular signed by its Director of Trade and Exchange Department, Hassan Mahmud, and posted on its website on Friday instructed […]
Nigeria’s Senate has approved the sum of N5.079 trillion as a revenue target and N706.4 billion as budget for the Nigeria Customs Service (NCS) in the 2024 fiscal year. The Red Chambers’ approval of the proposals followed the consideration of a report presentation by the Chairman of the Committee on Customs, Excise, and Tariff, Senator […]
The Central Bank of Nigeria (CBN) has raised the foreign exchange (FX) rate for the clearance of goods from N1444.56/$ to N1515.09 against the one United States dollar (USD), representing an increase of N70.53 compared to the prior rate. Before the latest adjustment of the rate, the single-window trade portal of the Nigeria Customs Service […]
….As Service Trains Officers On Harmonized System Coding The House of Representatives’ Public Accounts Committee on Tuesday queried officials of the Nigerian Customs Service (NCS) over alleged non-submission of audited financial statements for 2016, 2017, and 2018 financial years to the Auditor-General of the Federation. The Comptroller-General of Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, […]