he Apapa command of the Nigeria Customs Service, NCS, lost a staggering N7billion for the month of September as a result of the Federal Government’s new policy on foreign exchange restrictions.
Revenue figures released by the command showed that it generated a total of N23.3b revenue from Imports for both Federation and non-Federation accounts as against the N30.1billion generated in the previous month of August 2015, representing about N7billion decline.
A breakdown of the revenue statistics signed by the Customs Area Controller in charge of the command, which accounts for over 55 per cent of total revenue collection by the service, Comptroller Charles Edike show that while N12.6 billion was paid into the Federation Account covering import duty, fees and Common Eternal Tariff CET, N10.7 billion was paid into non Federation Account for government agencies.
Further details show that import duty accounted for N11.8billion, fees N32.7 million while the CET collections stood at N733 million.
For non- Federation Account, out of a total of N10.7 billion, the five per cent Value Added Tax VAT accounted for N4.6 billion while the seven per cent Port Levy accounted for N830 million even as the one per cent Comprehensive Import Supervision Scheme CISS was responsible for the collection of N1.4 billion.
