Delayed Customs Revenue: Banks Face New Interest Sanctions
Customs Moves to Enforce Timely Revenue Remittance THE Nigeria Customs Service (NCS) has announced the commencement of enforcement actions against Deposit Money Banks (DMBs) that delay remitting revenue collected on its behalf, introducing a stiff financial penalty to curb the practice. 3% Interest Penalty Above NIBOR Under the new directive, any bank that fails to […]
