Nigeria Customs N62.2bn Audit Cleared
Analysis based on 15 articles · First reported Jun 16, 2026 · Last updated Jun 17, 2026
The clearance of the Nigeria — Nigeria Customs Service on the N62.2 billion under-remittance allegation could positively impact investor confidence in Nigeria's financial transparency and governance. The resolution of this long-standing audit query may signal improved accountability within government agencies, potentially leading to a more stable business environment.
The United Kingdom — Public accounts committee has cleared the Nigeria — Nigeria Customs Service of an alleged N62.2 billion under-remittance to the Federation Account, as detailed in the Auditor-General's 2019 report. Comptroller-General Bashir Adewale Adeniyi explained that the amount was a result of misclassification of statutory levies collected on behalf of other government agencies, not actual unremitted revenue. The committee, chaired by Senator Ibrahim Hassan Dankwambo, accepted this explanation and resolved to establish a joint reconciliation team to review and resolve 76 other audit observations against the Nigeria — Nigeria Customs Service from the 2019 and 2020 audit reports. The issues were noted to have originated during a period of strained relations between the National Assembly and the Nigeria — Nigeria Customs Service, making earlier administrative resolution difficult.
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