FCT Customs Command realizes N1.28bn as revenue from Jan-June 2014

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The Federal Capital Territory (FCT) command of the Nigeria Customs Service (NCS), said it collected N1.28 billion revenue in the first half of 2014.

This is contained in the command’s “Revenue Collection Analysis” report obtained by the News Agency of Nigeria (NAN) in Abuja on Friday.

The service stated that the collection during the period was part of the N3.4 billion revenue collection target given to the service by the Federal Government.

It said that N513.82 million was collected in the first quarter and N769.99 million in the second quarter. The revenue, it, was generated from duties, Value Added Tax (VAT), fees and levies.

According to the service, out of the amount generated in the period, N743.78 million was remitted into the Federation Account, while N540.04 million was remitted to non-federation account.

It said that N724.5 million was realised from import duty, N50.75 million from port levy and N6.4 million from fees and penalties. It added that N256.66 million was realised from five per cent VAT while N12.86 million came from Common External Tariff (CET) levy during the period.

The other sources of the revenue collected during the period, it also said, were Comprehensive Import Supervision Scheme and ECOWAS Trade Liberalisation Scheme which accounted for N150 million and N82.61 million, respectively. (NAN)