The Nigeria Customs Service (NCS) has expressed concern over the delay in the remittance of customs revenue by some designated banks following the reconciliation of collections processed through the B’odogwu platform, warning that enforcement action is being taken against defaulting financial institutions.
“We have identified instances of delays in the remittance of customs revenue by some scheduled banks after the adjustment of collections processed through the B’odogwu platform,” the department said in a notice to stakeholders, stressing that such delays “are a violation of remittance obligations and have a negative impact on the efficiency, transparency and integrity of government revenue management.”
The NCS explained that the decision to impose sanctions is consistent with the provisions of the Service Level Agreement (SLA) concluded with designated banks. The service said interested parties will be notified of the “initiation of enforcement action against banks found not to comply with agreed remittance deadlines.”
The department said that under the enforcement framework, scheduled banks that fail to remit collected customs revenue within the stipulated period “will be subject to a penalty amount calculated at 3% above the prevailing Nigerian Interbank Offered Rate (NIBOR) during the period of delay.” It added that affected institutions “will receive formal notification indicating the amount of the delay, any applicable penalties, and the timeline for settlement.”
Beyond financial penalties, the NCS warns that repeated violations will result in even harsher consequences. “Continued or repeated non-compliance with the terms of the SLA may result in the imposition of additional sanctions, including regulatory and administrative measures as provided in this Agreement and the relevant laws guiding customs revenue collection,” the service said.
This development has brought new attention to the B’odogwu platform. The B’odogwu platform is a digital system introduced by the NCS to modernize customs revenue collection, increase transparency and reduce human intervention in the payment process. The platform is designed to enable real-time processing and reconciliation of customs payments, ensuring that revenue collected on behalf of the federal government is quickly and accurately accounted for.
This development has brought new attention to the B’odogwu platform. The B’odogwu platform is a digital system introduced by the NCS to modernize customs revenue collection, increase transparency and reduce human intervention in the payment process. The platform is designed to enable real-time processing and reconciliation of customs payments, ensuring that revenue collected on behalf of the federal government is quickly and accurately accounted for.
How B’odogwu eliminates revenue leakage
By integrating designated banks into a unified digital framework, B’odogwu aims to eliminate leakages, strengthen oversight and increase the reliability of customs revenue management processes. However, the service emphasizes that the platform’s effectiveness is highly dependent on the compliance of participating financial institutions.
The NCS reiterated that “prompt, accurate and complete remittance of customs revenue is a fundamental obligation of scheduled banks” and warned that delays undermine the core purpose of the digital system.
The agency also warned against improper handling of customs funds, saying: “Payment of collected revenue to unauthorized accounts, whether intentionally or negligently, will be treated as a serious violation and will be dealt with in accordance with the SLA and the applicable legal framework.”
Scheduled banks are therefore advised to strengthen internal controls, strictly adhere to remittance schedules and fully comply with the provisions of the SLA, Customs said. The NCS said it remains committed to ensuring accountability, protecting government revenues, and promoting a transparent and predictable financial system to support national economic development.
The department added that this enforcement action is part of a broader effort to ensure that technology-driven reforms such as the B’odogwu platform achieve their intended effects, while strengthening discipline and accountability across the Customs revenue value chain.
