The House of Representatives Committee on Customs has given two weeks ultimatum to five commercial banks to reconcile accounts and remit all outstanding customs duties to the federal government.
The Chairman of the Committee, Mr Leke Abejide, issued the ultimatum at an investigative hearing on alleged non-remittance of N10 billion customs duties to the federal government by commercial banks.
Mr Abejide, threatened to write the Central Bank of Nigeria (CBN) to deduct all outstanding from source and blacklist affected banks from collecting customs duty.
Abejide said: “Some banks are in the habit of avoiding the committee. The committee wants to conclude its investigations within the period to enable members to participate in the 2022 budget defense.
We will use the power of the gavel if the banks failed to reconcile and pay up the outstanding before two weeks.”
The lawmaker added that there are 15 more banks to be investigated.
Reporting by Ibrahim Shehu; Editing by Dan Adejo