The Fiscal Responsibility Commission (FRC) has expressed concern over the failure of the Nigeria Customs Service (NCS) to submit its audited financial statements since 2019, describing the development as a breach of the provisions of the Fiscal Responsibility Act (FRA), 2007.
The Acting Executive Chairman of the Commission, Barrister Charles Chukwuemeka Abana, stated this while receiving a delegation from the Nigeria Customs Service at the Office of the Acting Executive Chairman, Fiscal Responsibility Commission Headquarters, Abuja.
Barrister Abana emphasized the need for the Nigeria Customs Service to fully comply with the provisions of the Fiscal Responsibility Act by submitting its outstanding audited accounts and ensuring the timely remittance of its operating surplus into the Consolidated Revenue Fund (CRF) as required by law.
He urged the Service to intensify its revenue generation efforts while upholding the principles of transparency, prudence, and accountability in the management of public finances. According to him, the continued non-compliance of some government agencies with the Fiscal Responsibility Act has negatively impacted the Federal Government’s fiscal management and operations.
The Acting Executive Chairman noted that the Commission’s template for calculating operating surplus is explicit and easy to implement, adding that agencies that adhere to it make meaningful contributions to Nigeria’s economic development and fiscal sustainability.
Drawing a comparison with the Nigeria Immigration Service, Barrister Abana recalled that following FRC’s capacity-building programme on the implementation of the Fiscal Responsibility Act, the Service recorded significant improvements in compliance and financial reporting. He encouraged the Nigeria Customs Service to emulate this example.
He further assured the delegation that the Commission has a team of experienced professionals ready to provide the necessary technical support and guidance to enable the Nigeria Customs Service achieve full compliance with the Fiscal Responsibility Act, 2007. He reaffirmed the Commission’s commitment to maintaining a cordial working relationship with the Service in advancing fiscal discipline and accountability.
Responding on behalf of the delegation, the Comptroller of Accounts, Amedu O., acknowledged that communication gaps contributed to the delay in complying with the Commission’s reporting requirements. He assured the Acting Executive Chairman that the Nigeria Customs Service would take immediate steps to submit the outstanding audited accounts, comply with the provisions of the Fiscal Responsibility Act, and work closely with the Commission to reconcile its submissions with the approved operating surplus computation template.
The meeting concluded with both institutions reaffirming their commitment to strengthening collaboration in promoting transparency, accountability, and prudent financial management in Nigeria’s public sector.
