Tuesday, 9 August 2016

Tin-Can Island Customs generate N130.76bn in 7 months

The Nigeria Customs Service, Tin-Can Island command says it generated a revenue of N130.76 billion in the last seven months. According to a statement released by the command yesterday August 8th, the Customs Area Controller, Comptroller, Yusuf Bashar, made the disclosure during an interactive session with some stakeholders in his office recently.

Speaking with the stakeholders, Bashar empathized with them on increasing exchange rate which many of them say is affecting import duty. Bashar said the situation is however beyond customs control as the exchange rates which they use to charge import duty is given to them by the CBN.
"It is instructive to note that the Nigeria Customs Service by its statutory role, does not determine exchange rate but only relies on the Central Bank of Nigeria to update us with information in accordance with its establishing Act. It is, therefore, pertinent to note that the current situation is beyond the Customs’’ Bashar said.

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