News
Customs blames N240bn revenue shortfall on CBN forex restrictions
The Nigerian Customs Service has blamed the N240 billion shortfalls in its revenue generation for 2015 on the forex policy put in place by the apex bank in 2015.
Comptroller General of the Customs, Hammed Ali had announced that the Customs actually made N903 billion, a little below the N954 billion target set by the Federal Government. He blamed the shortfall on CBN’s forex restriction on the importation of 41 items.
“If we had added that to what we have generated it would have surpassed what we have, so that is the down side of why we were not able to meet the target in 2015.” Ali said.
He however expresses the hope that the Service will surpass its target for 2016 in view of the tools already put in place by the management, adding that, “I hope also that government will once again look at those policies and see how they can be fine-tuned.”
He said part of the efforts put in place in ensuring that that the 2016 target is realized was his familiarization tour and visit to the various Commands where he urged officers to work harder as well as help the agency correct the bad impression the public has about it.
-
Featured5 days agoInside INEC’s race to prepare for Nigeria’s 2027 elections
-
Featured5 days ago2027: APC unveils nationwide campaign timetable, Tinubu to rally in 12 states
-
Latest7 days agoUCTH faces morgue crisis as 50 unclaimed corpses await mass burial
-
Business7 days agoBREAKING: Nigeria’s Inflation Rate Drops to 14.63% in September
-
Business6 days agoPresident Tinubu and the Low Transport Fares Fiasco
-
Business5 days agoCourt dismisses ₦170m Trade Fair contract claim, says Zenith Bank was not a party
-
Business2 days agoNaira faces exchange rate gap as Dollar hits N1,380 on parallel market
-
Latest5 days agoBreaking: NNPCL raises petrol price to ₦1,405 per litre amid discount controversy