Nigeria Lost N1.3trn To Waivers Granted By Buhari -Customs

The Nigeria Customs Service (NCS) has said Nigeria lost a sum of N1.3 trillion in waivers and concessions granted by the administration of former President Muhammadu Buhari to investors.
The Comptroller-General of Customs, Adewale Adeniyi, disclosed this while speaking on Wednesday at a public hearing organised by the Senate Joint Committee on the 2024–2026 Medium-Term Expenditure Framework and Fiscal Strategy at the National Assembly complex in Abuja.
Adeniyi also said that the NCS was not privy to details of the controversial Customs $3.2 billion modernisation project (also known as e-Customs) approved by the Buhari administration in April.
Represented by Deputy Comptroller General, Mba Musa, the Customs chief said, “We are not privy to details of the modernisation agreement for the Nigeria Customs modernisation project.
“The NCS lost N1.3 trillion in 2023 due to waivers and concessions the President Muhammadu Buhari administration granted to investors,” he said.
In April 2023, the Federal Executive Council approved the Nigeria Customs Service modernisation project, also known as e-customs, despite a court order restraining the Federal Government from proceeding with the initiative.
President Buhari’s administration specifically endorsed the implementation of the customs modernisation project for a concessionaire.
The concessionaire was awarded to Bergman Securities Consultant and Suppliers Limited as the project sponsor, Africa Finance Corporation UFC as the lead financier, and Huawei Technologies as the lead technical service provider.
However, stakeholders criticized the project, contending that it jeopardizes the future of the service and poses a threat to national security.