The Nation Newspaper Nigeria Customs Service generates N1.3trn in first quarter 2024 says C-G
The Comptroller General of NCS, Adewale Adeniyi, made the disclosure while briefing newsmen on its activities in the first quarter of 2024, on Wednesday in Abuja.“The collection for the first quarter represents a substantial increase of 122.35 per cent compared to the same period last year, where N606,119,935,146.67 was collected,” he said.
The C-G said that the service, within the quarter under review, recorded 572 seizures of various items valued at N10.59 billion in Duty Paid Value and 22 suspects were arrested. “One notable initiative is the integration of geospatial technology alongside the utilisation of satellite imagery and Artificial Intelligence tools and techniques.“These efforts were initiated upon my assumption of office to combat the longstanding issue of smuggling and enhance the NCS’s enforcement capabilities for effective monitoring of our extensive 4,000 km borders.
He said that the service also recorded several systemic challenges related to non-compliance with regulations, infrastructure limitations, and significant fluctuations in exchange rates applied in the clearance of consignments.The NCS boss explained that in the first quarter 2024, Central Bank of Nigeria directed 28 rates, and such fluctuations resulted in an average applied exchange rate of NGN 1,314.03 per one dollar in the clearance of customs goods during the quarter.
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