Concerns Arise Over Nigeria Customs Service’s Financial Reporting
Ndubuisi Francis of Abuja
The Fiscal Responsibility Commission (FRC) has raised alarms regarding the Nigeria Customs Service (NCS), which has failed to submit its audited financial statements since 2019. This lack of compliance is seen as a breach of the provisions outlined in the Fiscal Responsibility Act (FRA) of 2007.
During a recent meeting with a delegation from the NCS at his office in Abuja, the Commission’s Acting Executive Chairman, Charles Chukwuemeka Abana, emphasized the importance of adhering to these regulations. He pointed out that Section 23 of the Fiscal Responsibility Act 2007 mandates government-owned enterprises (GOEs) and related agencies to prepare and submit audited financial reports within three months following the close of their financial year.
Abana urged the NCS to fulfill its legal obligations by submitting all outstanding audited accounts and ensuring the timely remittance of operating surplus to the Consolidated Revenue Fund (CRF). This timely reporting is critical for maintaining transparency and accountability in public financial management.
In a statement shared by Bede Ogeri Anyanwu, Deputy Director-General of FRC Strategic Communications Directorate, Abana called for the NCS to enhance its revenue generation efforts. He stressed that adherence to principles of transparency, prudence, and accountability is essential for effective fiscal management.
Abana expressed deep concern over the ongoing violations of the FRA by certain government agencies, highlighting the detrimental effects on the federal government’s financial oversight and operational efficiency. He also noted that the FRC’s template for calculating operating surplus is straightforward and can be easily implemented, mentioning that agencies that comply with it significantly contribute to Nigeria’s economic growth and fiscal sustainability.
Drawing a parallel with the Nigerian Immigration Service (NIS), Abana cited the positive outcomes following the FRC’s capacity-building initiatives. After participating in these programs, the NIS improved its compliance and financial reporting. He encouraged the NCS to model its practices after this example to enhance accountability.
Assuring the NCS delegation of the Commission’s support, Abana confirmed that a team of experienced experts is available to provide the necessary technical assistance and guidance to ensure the NCS meets its obligations under the Fiscal Responsibility Act of 2007. He reiterated the FRC’s commitment to nurturing a cooperative relationship with the NCS to foster fiscal discipline and accountability.
Responding on behalf of the NCS, Comptroller Amedu O acknowledged that gaps in communication had contributed to delays in compliance with the FRC’s requirements. He assured the Commission’s CEO that the NCS would take immediate action to submit its outstanding audited accounts, align with FRA regulations, and collaborate closely with the Commission to reconcile its submissions according to the approved operating surplus calculation template.
Both institutions concluded the meeting by reaffirming their commitment to enhance cooperation aimed at promoting transparency, accountability, and robust financial management practices within Nigeria’s public sector.
