The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, has reaffirmed the agency’s critical role in curbing Illicit Financial Flows (IFFs) in Nigeria.
Speaking at the opening session of the National Conference on Combating Illicit Financial Flows held in Abuja on Tuesday, July 22, 2025, Adeniyi outlined Customs’ strategic contributions to the national effort.
He explained that the Service actively monitors cross-border movements of cash and negotiable instruments, strictly enforcing mandatory declarations on transactions exceeding threshold values.
“In the past six months, we have tightened loose ends across all borders to ensure strict compliance with declaration protocols,” Adeniyi said.
He further underscored the complexity of IFFs, stating that the upcoming Financial Action Task Force (FATF) evaluation of Nigeria will require a coordinated, whole-of-government approach. According to him, Customs, tax authorities, the EFCC, and other agencies must collaborate more closely to meet global standards and protect the economy.
Also addressing the conference, Minister of State for Finance, Doris Anite, noted that Nigeria’s historic overreliance on oil revenue is no longer sustainable. She emphasized the government’s ongoing reform efforts aimed at diversifying revenue sources, with a renewed focus on tax and non-oil income.
“We must build a more inclusive and accountable fiscal framework—one that can fund national development, reduce debt dependence, and ensure fair contribution from all sectors,” Anite stated.
The conference brought together key stakeholders across sectors to chart a path toward greater fiscal transparency, improved domestic resource mobilization, and effective measures against illicit financial activities.
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