The House of Representatives has commenced a series of oversight sessions with key revenue-generating agencies of the federal government, examining their performance and the implementation of fiscal policies crucial to the government’s income.
On Tuesday, the Nigeria Customs Service (NCS), Corporate Affairs Commission (CAC), and Federal Airports Authority of Nigeria (FAAN) appeared before the Committee on Finance to defend their revenue collections and provide explanations for discrepancies in data and projections.
|
|
The committee, chaired by James Faleke (APC, Lagos), is reviewing the revenue performance of Ministries, Departments, and Agencies (MDAs) in a bid to enhance accountability, strengthen internal controls, and ensure proper remittance into government coffers.
Comptroller General flags pending revenue implementation
The Comptroller General of the Nigeria Customs Service (NCS), Bashir Adeniyi, informed lawmakers that certain revenue items projected in the budget had not been implemented, creating gaps between projected and actual collections.
|
|
|
|---|
He highlighted that N3 trillion expected from excise duties on selected products, collection of duties on reusable plastics (PSP), and telecom products including recharge cards, remains uncollected.
According to Mr Adeniyi, these measures were suspended shortly after their introduction in response to public complaints.
“There is still a hanging issue regarding the Finance Act,” he said. “Collection on PSP, excise on soft drinks and similar products, and telecom duties have not been done yet. If fiscal policy remains the same, we cannot project revenue from items whose collection is suspended.”
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
When asked whether the matter had been escalated to the president, Mr Adeniyi clarified, “We do not make a case to the president. If policies are hanging, it is for us to implement them.”
The CG was, thereafter, advised to formally write to the finance committee chairman, Mr Faleke, and the NCS leadership on the three pending items.
CAC defence postponed over missing data
Earlier in the day, the committee suspended the defence of the Corporate Affairs Commission (CAC) after its Registrar-General, Hussaini Magaji, failed to provide essential data on the total number of registered companies in Nigeria.
Lawmakers expressed surprise at the inability of the CAC boss to provide accurate figures from the agency’s database.
Committee member Stanley Adedeji (PDP, Oyo) described the performance as unacceptable and moved a motion to adjourn the session until comprehensive records could be presented.
“This man is not competent to handle this agency,” Mr Adedeji said. “You should not stand before us without factual records. If you cannot speak accurately, we should step you down and summon you on another day.”
The motion was unanimously adopted, and the CAC Registrar-General was directed to return next Tuesday with detailed and verifiable information on company registrations and the commission’s revenue profile.
During his presentation, Mr Magaji attempted to outline revenue from company incorporations, business name registrations, annual returns, certified true copies, compliance enforcement, and accreditation fees.
However, inconsistencies in his figures heightened concerns over data reliability.
FAAN implements a cashless system to plug revenue leakages
Also appearing before the committee, Olubunmi Kuku, managing director and CEO of the Federal Airports Authority of Nigeria (FAAN), outlined plans to enforce electronic payment systems across all airports.
Ms Kuku said the initiative is part of the federal government’s broader fiscal reform agenda to eliminate leakages, improve internally generated revenue, and enhance transparency.
“This initiative is about accountability and sustainability,” she said. “We are ensuring that every kobo due to the federal government is collected while improving operational efficiency.”
She explained that the transition to a cashless system began with sensitisation campaigns, advertisements, and stakeholder engagement starting mid-2025.
Ms Kuku acknowledged initial congestion at some airport toll gates but described it as temporary as users adapt to electronic payment options.
READ ALSO: FAAN issues travel advisory over Middle East flight disruptions
FAAN, she noted, currently offers four payment methods at airport tolls: annual e-tags for frequent users, VIP stickers, personal bank ATM cards including contactless/NFC-enabled cards, and FAAN-issued cashless cards obtainable at airports or partner banks.
She stressed that widely used domestic cards, including Verve, are compatible with the system.
Ms Kuku concluded that improving revenue capture would strengthen service delivery, support infrastructure maintenance, and accelerate airport modernisation projects nationwide.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
