Reps Threaten GTCo, Standard Chartered, Ecobank, Providus Bank For Owing N10.6bn

The Home of Representatives has threatened to cease Warranty Belief Financial institution (now reorganised as GTCo), Commonplace Chartered Financial institution, Ecobank and Providus Financial institution for refusing to remit N10.6 billion collected as customs obligation to the federal authorities.

 

This was the place of the Home Committee on Customs when the banks appeared earlier than it on Wednesday. Out of 18 banks being investigated on the matter, 4 are allegedly owing the federal authorities about N10.6 billion in unremitted Customs obligation collections.

 

Chairman of the Committee, Leke Abejide, (APC, Kogi) stated, a lot of the banks have been discovered culpable of not disclosing the precise quantity they owed as excellent remittances of Customs Obligation collections working into billions of naira.

Equally, the committee berated Ecobank over their declare of N450 million unremitted funds of their paperwork submitted to the committee earlier.

 

Abejide stated the committee had after an unbiased investigation, information collections and evaluation of the financial institution’s transactions on customs assortment, have realised that the determine is N3.9bn.

 

The Government Director, GTCo, Haruna Musa stated among the figures out of the N103 million legal responsibility tagged as unremitted have really been remitted by the financial institution.

 

Nonetheless, the Ecobank Government Director, Company Banking, Adekola Adeleke claimed that the financial institution shouldn’t be owing some other fund.

 

The committee nevertheless counseled Providus Financial institution for his or her uprightness of their disclosure than the opposite banks.

The Group Head, Public Sector of the financial institution, Nasir Muhammed stated out of the N213m collected, N129m was submitted late and the remaining steadiness might be paid promptly.

“I’m utilizing this medium to warn them. Out of 18 Banks, I imply 5 out of 18 Banks, we have been capable of get N10.6bn that they’re owing authorities,” stated Abejide.

 

Chairman of the committee warned that any financial institution discovered wanting or holding on to funds collected on behalf of the Nigeria Customs Service (NCS) might be sanctioned and the excellent deducted from their accounts by the Central Financial institution of Nigeria (CBN).

“Properly, now we have given them two weeks to go and are available again. After these two weeks, we is not going to have some other possibility than to write down the CBN to deduct the cash from the supply,”Abejide warned.