Home Economy Nigeria records N1.2bn loss to ETLS scheme — Custom

Nigeria records N1.2bn loss to ETLS scheme — Custom

by Business News Report

The Nigeria Customs Service says the Federal Government lost N1.2 billion to the ECOWAS Trade Liberalisation Scheme (ETLS) between January and May. AlhajiSadiq Sahabi, Area Comptroller of Customs, Seme Border Command, made the fact known on Tuesday at press briefing in Seme. He said that in five months, trucks of (ETLS) compliant goods with a Cost Insurance and Freight (CIF) Value of N4.2 billion were cleared by the command. “The revenue loss was as a result of the scheme concession, while 1 per cent Comprehensive Import Supervision (CISS) revenue amounts to N37.5 million,” he said.
The area comptroller said that all ETLS goods were being routed through the scanner. “Anyone with questionable data will be subjected to 100 per cent physical examination,” he said. Nigeria is a signatory to ETLS, a sub-regional economic integration policy.

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