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Nigeria Customs Service (NCS)

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 The functions of the Nigeria Customs Service include, but not limited to the following: Collection of revenue (Import /Excise Duties & other Taxes /Levies) and accounting for same; anti smuggling activities; security functions; generating statistics for planning and Budgetary purposes; monitoring Foreign Exchange utilisation, etc; engaging in Research, Planning and Enforcement of Fiscal Policies of Government; manifest processing; licensing and registration of Customs Agents; registration and designation of collecting banks; and working in collaboration with other government agencies in all approved ports and border station.

Recent Posts in Nigeria Customs Service (NCS)

PenCom releases N86.7bn to over 275,000 sacked workers

2018-09-18 11:19 AM | by Nigeria Compliancehub

The National Pension Commission said it had released N86.7 billion to sacked workers of various companies who participated in the Contributory Pension Scheme. Acting Director-General, PenCom, Mrs Aisha Dahir-Umar, who disclosed this on Monday in Lagos, said the amount was for the settlement of 275,172 disengaged… Read more

Automation of the withholding tax system

2018-09-06 1:48 PM | by Nigeria Compliancehub

Federal Inland Revenue Service (FIRS) in its bid to extend the Integrated Tax Administration System (ITAS) initiative to all of its processes, recently indicated its intention to fully automate the withholding tax (WHT) system in Nigeria. Pursuant to this initiative, FIRS has started inviting taxpayers for reconciliation of unutilized WHT… Read more

NAICOM lifts ban on new licence issuance

2018-09-05 2:05 PM | by Nigeria Compliancehub

After eight years of suspending the issuance of new operating licences to investors to start new life, non-life and composite insurance companies in Nigeria, the National Insurance Commission on Tuesday lifted the ban.

It however restricted the new licence issuance to investors interested in Tier 1 insurance… Read more

FG asks MTN to pay $2bn tax arrears

2018-09-05 12:45 PM | by Nigeria Compliancehub

The Federal Government has asked MTN Nigeria to pay taxes of $2bn (N700bn), six days after the Central Bank of Nigeria ordered it to repatriate $8.13 billion ‘illegally taken out of the country’. The telecom company said in a brief statement that the Attorney General’s office gave “notice of an… Read more

NPA wants effective implementation of Public Procurement Act

2018-08-31 3:33 PM | by Nigeria Compliancehub

The management of the Nigerian Ports Authority has supported  the formation of the Nigeria Institution of Procurement Engineers – Lagos Chapter, insisting that its establishment will enhance the understanding and effective implementation of the Nigerian Public Procurement Act 2007.

While commending the initiators of the institution, the… Read more

e-Dividend Registration To Continue – SEC

2018-01-04 11:59 AM | by Nigeria Compliancehub

The Securities and Exchange Commission (SEC) has announced that the e-dividend registration exercise would continue seamlessly in spite of the expiration of the December 31st 2017 free registration deadline.

It would be recalled that the e-dividend free registration expired on December 31, 2017.

Dr. Abdul Zubair, Acting Director General of SEC, who… Read more

SON Launches PAM to Check Substandard Products

2017-12-15 3:45 PM | by Nigeria Compliancehub

The Director-General of the Standards Organisation of Nigeria (SON), Osita Aboloma, has said that the agency’s newly introduced Product Authentication Mark (PAM) will raise the patronage of made-in-Nigeria products and boost the country’s economic diversification drive from oil to non-oil sector and check substandard products.

The PAM is a mark of… Read more

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