The Senate Committee on Customs, Exercise and Tariff has com­menced investigation into N30 trillion fraud allegedly carried out in the import and export value chain between 2006 and 2017.
This was as the committee has summoned the Governor of the Central Bank of Nige­ria, CBN, Godwin Emefiele; Finance Minister, Mrs Kemi Adeosun and Minister of Budget and Planning, Senator Udo Udoma to appear before it in three weeks.
The Chairman of the Committee, Sen Hope Uzodinma made this disclo­sure at an investigative meet­ing with some of the com­mercial banks, alleged to be accomplices in the fraud.
The Chairman said that the Committee would do every­thing possible to ensure that the mandate given to it by the Upper Chamber to recover and block leakages would be carried out to the letter.
Recall that the Senate had in plenary mandated Senator Uzodinma’s committee to in­vestigate and identify areas of revenue leakages in the entire import and export circle.
According to Uzodinma,” The committee has started in­vestigation. “We took time to enter into the import and ex­port value chain and we have been able to identify areas of leakages and malpractices.
“This is ranging from un-utilised Form Ms, abandoned Form Ms, partially aban­doned Form Ms abandoned assessment of Customs Du­ties and foreign exchange al­location manipulation.
“We have been able to go into the database of the oper­ating system of Nigeria Cus­toms Service otherwise called ASCODA.
Continuing he said, “We identified Form M by Form M, import by import, vessel by vessel, liabilities of import­ers and commercial banks that are yet to be handled.The Authority