The Comptroller‑General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, has reaffirmed the agency’s strategic role in combating illicit financial flows (IFFs), declaring that Customs has tightened cross-border surveillance and strengthened enforcement of financial declaration protocols in recent months.
Adeniyi made the remarks at the opening session of the National Conference on Combating Illicit Financial Flows, held in Abuja recently. The conference brought together key stakeholders from across financial, regulatory, and security agencies to strategize on tackling the persistent threat of IFFs in Nigeria.
“In the last six months, Customs has tightened loose ends at all our borders to ensure that declaration protocols are diligently implemented,” Adeniyi said, stressing that daily Customs operations include monitoring cross-border cash movement and negotiable instruments to enforce compliance with financial thresholds.
Cross session of attendees
He described the issue of illicit financial flows as multi-dimensional, requiring inter-agency collaboration. With Nigeria’s upcoming Financial Action Task Force (FATF) mutual evaluation on the horizon, Adeniyi called for a “whole-of-society approach,” noting that Customs, the Federal Inland Revenue Service (FIRS), EFCC, and other agencies must align efforts to ensure compliance and institutional transparency.
Also addressing the conference, Minister of State for Finance, Doris Anite, emphasized the urgency of economic reforms to strengthen non-oil revenue systems. She noted that decades of over-reliance on oil revenues had left the economy vulnerable to global shocks.
“We must shift focus from oil to a more inclusive and accountable tax-driven framework capable of funding development and reducing debt dependency,” she said.
Anite urged stakeholders to modernize tax systems, close loopholes, and ensure fair contributions from all sectors, including digital and informal economies.
As Nigeria prepares for global evaluation, the conference highlighted the need for transparency, enforcement, and institutional synergy to stem the flow of illicit finances and improve the country’s economic resilience.
For more insights on governance, economy, and regulatory reforms, visit fasnewsng.com.
By Folake Sokoya
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