Alleged N30trn Revenue Leakage: Senate Quizzes 60 Firms

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The Senate Joint Committee on Customs and Marine Transport investigating alleged N30 trillion revenue leakage in the import and export chain yesterday began quizzing companies involved in the processes

Addressing some of the firms invited at the committee session in Abuja, yesterday ,chairman of the committee, Sen. Hope Uzodinma, said the committee would do everything to recover the funds.

He said that over 60 companies were being investigated in connection with the sleaze, adding that concerned firms would be invited in batches to the committee’s sessions.

Firms present at the meeting were CCEC Nigeria Ltd, China Export Ltd, CFAO Group, Chi Ltd, Bhojsons Ltd, Bharat Ventures Ltd, and Boulos Group.

Others were African Wire and Allied Ltd, Admiral Overseas Nigeria Ltd, CKS International Ltd, Abyem-Diva International Ltd and Aarti Steel Nigeria Ltd.

Decrying the level of complicity in the import and export value chain in the country, the lawmaker said that the National Assembly would ensure that measures were taken to stop the corruption in the country.

“This is a continuation of the investigation that is ongoing and we have now started interfacing with the various companies that are directly involved in the infractions that we identified in the course of our investigation.

“Most of the companies have no evidence to show that our position is not correct.

“So, it is our hope that working together, whether you are from the executive arm, judiciary or the legislature, we must acknowledge the need for us to protect our national interest.

“We must grow this economy. Over the years we over-relied on oil revenue.

“The only way to rescue the economy from the present state is to expand our sources of income by strengthening the non-oil revenue earnings.

“The companies have pleaded to come back next Tuesday, and then we will invite the Nigerian Customs Service to issue necessary demand notice to all established cases.

“Then the companies will make payments into the Federation Account with the Central Bank of Nigeria (CBN),’’ he said.



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