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Customs reinstates First Bank for duty collection


CGC, Dikko Abdullahi

The Nigeria Customs Service (NCS) says it has reinstated First
Bank of Nigeria Plc as one of the banks collecting Customs duty.
This is contained in a statement a statement signed by the Public
Relations Officer of the NCS, Wale Adeniyi, and made available to newsmen.
The statement quoted the Comptroller-General of Customs, Dikko
Abdullahi, as saying that the bank was reinstated following a debt recovery
 “Following a detailed debt
recovery plan, the Nigeria Customs Service has unblocked and reinstated First
Bank Plc as a Customs duty collecting bank,” the statement read in part.
It disclosed that the bank was suspended from duty collection as a
result of the failure of its customers; Messrs Onome Jack Up Service Limited
and Oritsetimeyin Jack Up Service Limited to redeem a bond to the tone of N3,
641,563,481.00 secured by the bank.
Satisfied with the
recovery plan which involved the intervention of Asset Management Corporation
of Nigeria (AMCON), the Comptroller-General of Customs, Dikko Inde Abdullahi,
CFR, directed the immediate reinstatement of First Bank Plc as Customs
duty collecting bank.
He consequently urged
Importers/Agents to resume duty payment transactions with the bank.

He assured that the
Service will continue to recognize properly entered bonds as a tool for
trade facilitation, but warned that any abuse of the process from any individual
or organization would not be tolerated.

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