The Nigeria Customs Service (NCS) has begun enforcing penalties against designated banks that fail to promptly remit collected customs revenue, marking a tougher stance on compliance in government revenue collection.
In a statement on Wednesday, the NCS said it had observed recurring delays in remittances by some banks after reconciliations processed through the B’odogwu platform. Deputy Comptroller of Customs Abdullahi Maiwada, the National Public Relations Officer, described these delays as a serious breach.
“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration,” Maiwada stated.
Under the terms of the Service Level Agreement between the NCS and the designated banks, any bank that fails to transfer collected revenue within the agreed timeline will now face penalty interest calculated at three percent above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the entire period of delay. The NCS said affected banks would receive formal notifications specifying the outstanding amounts, the applicable penalties, and deadlines for settlement.
The service warned that repeated or persistent violations could trigger further sanctions, including regulatory and administrative measures allowed under the agreement and relevant laws.
Maiwada stressed the non-negotiable nature of timely remittances. “Prompt, accurate, and complete remittance of Customs revenue is a fundamental obligation of Designated Banks,” he said, adding that any transfer of collected funds into unauthorised accounts, whether intentional or mistaken, would be treated as a grave violation.
The NCS urged banks to bolster their internal controls and adhere strictly to the agreed timelines. “The Service remains committed to enforcing accountability, safeguarding government revenue, and promoting a transparent and predictable financial system in support of national economic development,” the statement concluded.
The announcement has drawn attention across Nigeria’s financial and trade sectors, with some observers suggesting it could strain relations between the customs authority and commercial banks. As of December 18, 2025, no public responses from the affected banks or the banking industry have been reported.
