Customs Begins Enforcement of Penalties Against Banks Over Delayed Remittance of Revenue
The Nigeria Customs Service (NCS) has commenced the enforcement of penalties against Designated Banks found to be in breach of agreed timelines for the remittance of Customs revenue, following observed delays in transfers after reconciliation on the B’odogwu revenue platform.
In a press statement issued on Tuesday, the Service disclosed that some banks had failed to remit collected Customs revenue promptly after processing transactions through the electronic platform, a development it said undermines the efficiency, transparency and integrity of government revenue administration.
According to the NCS, the delays constitute a clear violation of the Service Level Agreement (SLA) executed between the Service and Designated Banks, prompting the decision to activate enforcement provisions already embedded in the agreement.
The Customs Service announced that any Designated Bank that fails to remit collected revenue within the stipulated period will now be subjected to penalty interest.
The penalty, it said, will be calculated at three per cent above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the duration of the delay.
“Affected banks will receive formal notifications detailing the delayed amount, the applicable penalty and the timeline for settlement,” the statement noted.
The Service further warned that repeated or persistent non-compliance with the SLA could attract stiffer sanctions, including regulatory and administrative measures, in line with the provisions of the agreement and existing laws governing Customs revenue collection.
Reiterating the importance of strict compliance, the NCS stressed that the prompt, accurate and complete remittance of Customs revenue is a fundamental obligation of Designated Banks.
It cautioned that any payment of collected revenue into unauthorised accounts, whether deliberate or resulting from error, would be treated as a serious violation and addressed in accordance with the SLA and applicable legal frameworks.
The Service therefore advised Designated Banks to strengthen their internal control mechanisms, ensure strict adherence to remittance timelines and fully comply with all provisions of the SLA.
The NCS reaffirmed its commitment to enforcing accountability, safeguarding government revenue and promoting a transparent and predictable financial system that supports national economic development.
The statement was signed by the Deputy Comptroller of Customs and National Public Relations Officer, Abdullahi Maiwada, on behalf of the Comptroller-General of Customs, and dated 17 December 2025.
