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Published On: Sun, Apr 13th, 2014

FCT Customs Command generates N513.8m in first quarter

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The FCT Area Command of the Nigeria Customs Service (NCS) on Thursday said it collected N513.8 million revenue in the first quarter of 2014.This was contained in a document obtained by the News Agency of Nigeria (NAN) from the NCS Area Command in Abuja.

The document stated that N126.3 million was collected in January, while N169.2million was collected in February and N218.3 million in March.It stated that out of the amount generated in the period under review, N319.2 million was remitted into the Federation Account, while N194.6 million was remitted to non-federation account.

The revenues, the document stated, were generated from duties, fees and levies, which made up the amount remitted to the federation account and non-federation account.It said that N311.2 million was collected on import duties, N4.9 million from Common External Tariff (CET) levy, while N3.1 million was collected from fees and penalties.

The document said N97.4 million was realised from 5 per cent Value Added Tax (VAT), while N21.8 million from the 7 per cent port levy within the period under review.Some special levies, according to document, included Comprehensive Import Supervision Scheme and ECOWAS Trade Liberalisation Scheme, which accounted for N48.5 million and N26.9 million, respectively. (NAN)

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