The Nigeria Customs Service (NCS) has revealed that Nigeria lost a whopping sum of N1.3 trillion in waivers and concessions granted by the administration of former President Muhammadu Buhari to investors.
According to the Comptroller-General of Customs, Adewale Adeniyi, who on Thursday disclosed this at a public hearing organised by the Senate Joint Committee on the 2024–2026 Medium-Term Expenditure Framework and Fiscal Strategy at the National Assembly complex in Abuja, the NCS was not aware of the details of the controversial Customs $3.2 billion modernisation project (or e-Customs) approved by Buhari in April.
The CG was represented by Deputy Comptroller General, Mba Musa.
He said: “We are not privy to details of the modernisation agreement for the Nigeria Customs modernization project.
“The NCS lost N1.3 trillion in 2023 due to waivers and concessions the President Muhammadu Buhari’s administration granted to investors.”
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Recall that the Federal Executive Council had in April, 2023, approved the Nigeria Customs Service modernisation project, which is also known as e-customs, despite a court order, barring the Federal Government from proceeding with the initiative.
Buhari’s administration specifically endorsed the implementation of the customs modernisation project for a concessionaire in flagrant disregard for the court order.
The concessionaire was awarded to Bergman Securities Consultant and Suppliers Limited as the project sponsor, Africa Finance Corporation UFC as the lead financier, and Huawei Technologies as the lead technical service provider.
Nevertheless, stakeholders faulted the project on the grounds that it is inimical to the future of the NCS and poses a potential threat to national security.
