N30tn Revenue Loss: Indicted Banks, Firms Return N140bn

The Senate Joint Committee on Customs, Excise and Tariffs; and Marine Transport on Wednesday said it has recovered over N140bn from banks and companies following its probe into the alleged loss of N30tn in Nigeria’s import and export value chain.

This was disclosed in an interim report by the panel, which the Senate considered and adopted on Wednesday.

The Red Chamber said the recovered funds has been deposited with the Central Bank of Nigeria.

In the report presented by its Chairman, Senator Samuel Anyanwu, the panel said some banks had remitted N128bn to the CBN, while about 60 companies investigated made voluntary payments of N12bn to the Federal Government.

It said, “As a result of this exercise, some collection banks have made additional remittances to the Central Bank of Nigeria to the tune of N128bn and evidence of payment and receipt has been received by the committee.

“From the selected 60 companies, over N12bn payments have been made to the government voluntarily by the companies based on their internal self-audit after receiving documented evidence of their culpability from our committee.

“It is instructive to note that despite all the payments so far made, none of the approved collection banks or the selected companies has fully cleared the established liabilities against them.”

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