Customs begins enforcement of penalties against banks over delayed revenue remittance
The Nigeria Customs Service (NCS) has commenced enforcement actions against designated banks found to be delaying the remittance of customs revenue, warning that defaulting institutions will now face financial penalties and possible additional sanctions.
In a statement issued on Tuesday, the Service said it had observed cases of delayed remittance by some designated banks after reconciliation of collections processed through the B’odogwu platform. According to the NCS, such delays violate remittance obligations and undermine the efficiency, transparency and integrity of government revenue administration.
The NCS explained that the enforcement follows provisions contained in the Service Level Agreement (SLA) executed between the Service and designated banks. Under the agreement, any bank that fails to remit collected customs revenue within the stipulated timeframe will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the duration of the delay.
The Service noted that affected banks will receive formal notifications detailing the delayed amounts, applicable penalties and timelines for settlement.
It further warned that persistent or repeated breaches of the SLA could attract additional regulatory and administrative sanctions in line with existing agreements and laws guiding customs revenue collection.
The Customs Service also cautioned that payment of collected revenue into unauthorised accounts, whether deliberate or due to error, would be treated as a serious violation and addressed in accordance with the SLA and relevant legal frameworks.
Advising designated banks to strengthen internal controls and ensure strict compliance with remittance timelines, the NCS reiterated its commitment to accountability, safeguarding government revenue and promoting a transparent and predictable financial system to support national economic development.
The statement was signed by the National Public Relations Officer of the Nigeria Customs Service, Abdullahi Maiwada, Deputy Comptroller of Customs, on behalf of the Comptroller-General of Customs, and dated December 17, 2025.
