Senate has commenced investigation over alleged N4trn revenue leakage

The Alleged N4 trillions revenue leakage in the Nigerian customs Service between 2006 and 2016 is under investigation by the Senate committee on Customs, Excise and Tariff

Senator Hope Uzodinma, the chairman of the committee, made this known in an interview with the newsmen on Sunday in Abuja

The committee would stop at nothing in recovering the money, which was lost to lapses and various infractions said Uzodinma.

He pointed out that preliminary investigation by the committee revealed that over N4 trillions revenue leakage was due to abuse and non implementation of  Form M (Foreign Exchange forms )

He added that wrong classification of cargo Under HS code (Harmonised System codes), non screening of Cargoes coming into Nigeria and lack of adequate ICT  infrastructure for revenue collection,  were equally responsible .

Uzodinma further explained that cancellation of pre-arrival assessment reports and abandonment of single Goods declaration  were equally responsible.