Reps: Nigeria Loses N1.5 Trillion in Cargo within One Year

The House of Representatives Committee on Customs and Excise has vowed to investigate the alleged diversion of imported finished goods to Free Trade Zones (FTZs) from other ports by Customs License Clearing and Forwarding agents, in collusion with corrupt officials in the Nigeria Customs Service (NCS) and other agencies.

Rep. Leke Abejide, Chairman of the Committee, made this statement during an address at the Lekki Free Trade Zone Command of the NCS on Friday.

Abejide described the criminal activity as a major economic sabotage, emphasizing that it led to a significant loss of revenue for the country, amounting to over N1.5 trillion in just one year.

“It was so bad that in one of the Free Trade Zones that I don’t want to mention because I don’t want them to run away; we know them and we will go back five years later to collect these trillions from them. So this is where you should be looking at,” he said.

He further explained how the diversion works: “They will not pay duty because the law says that within three months after production, they must pay duty. But they will go and sell the goods first. Honourable colleagues, this has worked so fast. We need to do something about it. More than 1.5 trillion was lost in this process last year.”

The Committee Chairman assured that the investigation was already underway, though he refrained from disclosing specific details.

“We are doing it already but I don’t say it out. The system we are going to use, they will know that we, too, are experts in this. We will be able to get them, and those who thought they had beaten the system five years ago will be made to face justice,” he stated.

Abejide also revealed that the investigation would uncover other forms of diversion, saying, “We know them, and I believe in this place it’s happening too, where they will come in the form of bringing raw materials and instead bring finished goods and take them to the market.”

Speaking at the DUFIL Prima Packaging factory within the Lekki FTZ, the Committee Chairman disclosed that the House would amend the NEPZA Act to close the loopholes exploited by companies and individuals to evade government revenue.

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