Headlines
Audit report exposes Customs, NNPC under- remittance to Federation account.

The 2019 Auditor- General’s Federation Annual Report has shown that the country may have been shortchanged to the tune of N666.15 billion due to the discrepancies observed in the financial books of the Nigerian National Petroleum Corporation (NNPC) and Nigeria Customs Service (NCS).
In compliance with the provisions of the 1999 constitution of the Federal Republic of Nigeria, on August 18, 2021, the Auditor-General for the Federation, Aghughu Adolphus, submitted to the Clerk of the National Assembly the Annual Report on the Federal Government of Nigeria Consolidated Financial Statements (CFS) for the year ended 31st December 2019.
A review of the Audit report revealed that some of the figures, particularly those of the NNPC and NCS did not tally.
On page 50 of its 2019 Annual Reports and Financial Statements, the NNPC-National Petroleum Investment Management Services (NAPIMS) reported that it transferred the sum of N1.27 trillion to the Federation Account
However, in the 2019 Audit report, the Accountant-General of the Federation (AGF) who is the Chief Accounting Officer for the receipts and payments of account of the federation, noted in his records submitted for audit that only N608.71 billion was received as a remittance by NNPC into the Federation Account for 2019.
This shows a difference of N663.90 billion, between the figure NNPC-NAPIMS reported in its audited financial statements and the amount the AGF claimed the NNPC transferred into the Federation Account as remittance for 2019.
Similar discrepancies were noted in the financial books of the Nigeria Customs Service.
As noted in the Auditor’s report, the NCS generated revenue of N841.27 billion in 2019. This exact amount was supposed to be remitted by NCS to the Federation Account.
However, only the sum of N839.02 was remitted to the Federation Account through the Nigerian Integrated Customs Information System II (NICIS II), indicating that the total money remitted fell short by N2.26 billion.
If the NCS’s N2.26 billion variance is added up with the N663.90 billion shortfall observed in the financial statements of NNPC and AGF’s record, it brings the total figure to N666.15 billion.
As the Auditor General noted in the report, these discrepancies mean a loss of revenue to the government and could lead to difficulty in funding the (2019) budget.
True to the worries expressed by the Auditor-General in the 2019 Audit report, it was actually difficult for the government to fund its 2019 budget as the government resorted to borrowing.
In December 2018, President Buhari presented to a joint session of the National Assembly a proposed budget of N8.83 trillion for the 2019 fiscal year.
In his budget presentation, the President noted that the 2019 budget had a projected deficit of N1.86 trillion which was to be financed by borrowing.
The country’s Finance Minister, Zainab Ahmed stated clearly that, “we (the government) intend to fund the 2019 budget through borrowing locally and internationally with a spread of 50:50”, indicating that the government lacked the necessary revenue to fund its budget for that year.
The 2019 budget was not the first the government-financed through borrowed funds.
However, if the N666.15 billion arising from the differences in the financial records provided by the NNPC and AGF, as well as that of the NCS had been fully remitted to the Federation Account as the Audit report showed, it could have potentially reduced the amount the government borrowed to fund the 2019 budget by 35.71%.
This could have also reduced the country’s debt burden which currently stands at N35 trillion and is projected to rise to the tune of at least N41 trillion before the end of 2022.
While the government continues to devise ways to tackle the problem of revenue shortages that have made it difficult to fund its annual budgets, economic experts advised that the Federal Government should follow the recommendations of the Auditor General by ensuring that the management of the NNPC provide reasons for the discrepancy between what it reported in its NNPC-NAPIMS audited financial statements and the figure reported by the AGF as NNPC-NAPIMS remittance into the Federation Account for 2019.
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Headlines
NANTA Exco embarks on seven-day Ghana retreat, fam trip to deepen regional tourism partnership

Gloria Odion, Reporter
The National Executive Council (NEC) of the National Association of Nigeria Travel Agencies (NANTA) has commenced a seven-day executive retreat and familiarisation (fam) trip to Ghana, hosted by Safari World, as part of efforts to strengthen regional tourism partnerships and expand cross-border travel opportunities.
The NANTA delegation was received at Safari World Homes in Accra by the Chairman of the Safari World Group, Mr. Ernest Gyekye, who expressed delight at hosting the Nigerian travel trade leaders.
He assured the delegation of a memorable experience throughout their week-long stay.
Speaking on the significance of the visit, NANTA President, Mr. Yinka Folami, described the retreat and familiarisation tour as a strategic initiative aimed at fostering stronger business relationships and promoting collaborative tourism development across Africa.
“This mission is not a leisure trip,” Folami said. “It is a deliberate step to implement and expand our association’s marketing advocacy for Nigerian brands across borders.”
He noted that Nigeria and Ghana share deep historical, cultural and commercial ties that should be leveraged to drive tourism growth on the continent.
“Nigeria and Ghana share history, culture, trade and people. The future of our tourism cannot be built in silos,” he said.
“This retreat is about moving from policy to practice—creating real products, real partnerships and real movement of travellers between Accra and Lagos.”
As part of the programme, the NANTA executives will engage in strategic business-to-business (B2B) meetings with their Ghanaian counterparts, tour key tourism destinations under the Safari World brand, and participate in cultural exchange activities designed to promote stronger bilateral tourism cooperation.
The itinerary spans Safari World’s three flagship destinations, including Safari Homes in Accra, the Aqua Safari riverfront experience, Safari Island Cruise, Safari Nautica, and Safari Recreation and Sports facilities in Ada, as well as the Safari Valley Eco Resort and Safari Eco Park in Dawu.
Operating under the brand promise, “One World, Three Destinations, Over 20 Unique Experiences,” Safari World is leveraging the visit to strengthen its footprint in the Nigerian travel market while positioning Ghana as a premier destination for leisure tourism, conferences, group travel, family holidays and premium tourism experiences.
A major highlight of the visit will be the Executive Dinner scheduled for July 21 at the Safari Valley Eco Resort, where key stakeholders from Nigeria and Ghana’s tourism industries will deliberate on strategies for deepening travel trade and advancing regional tourism development.
The familiarisation tour is expected to provide NANTA’s leadership with first-hand knowledge of Safari World’s tourism offerings, paving the way for the development of attractive travel packages and stronger business partnerships that will benefit Nigerian travellers and the wider West African tourism industry.
Customs
Ogun Customs spurns claims of Smugglers’ takeover of Idiroko–Sango Ota trading Route

Funso OLOJO, Editor
The Ogun I Area Command of the Nigeria Customs Service (NCS) has dismissed as false reports alleging that smugglers had taken over the Idiroko–Sango Ota trading route in Ogun State, describing the claims as a deliberate misrepresentation of a traffic incident.
In a statement issued by the Command’s Public Relations Officer, Superintendent of Customs (SC) Chado, the Command clarified that the traffic gridlock on the route resulted from the breakdown of an articulated commercial trailer after it fell into a badly deteriorated section of Atan Road, temporarily obstructing the free flow of traffic.
According to the Command, the vehicles caught in the ensuing congestion were legitimate commercial trucks transporting red palm oil to various local markets and had no connection whatsoever with smuggling activities.
It explained that the large number of heavy-duty trucks trapped in the gridlock may have led some members of the public to wrongly conclude that smugglers had taken over the road.
“The reports that smugglers blocked the road are inaccurate. The disruption resulted from a road accident and poor road conditions. The vehicles involved were lawful commercial vehicles transporting red palm oil for legitimate trade,” Chado stated.
The Command urged journalists, social media users and the general public to verify information before disseminating reports capable of creating unnecessary panic or undermining public confidence in security agencies.
Observers within the border trade sector noted that the allegation does not reflect the prevailing security situation within the Ogun I Area Command, where anti-smuggling operations have been intensified under the leadership of the Acting Customs Area Controller, Comptroller O.O. Afeni.
Since assuming office, Comptroller Afeni has strengthened intelligence-driven surveillance, enhanced collaboration with other security agencies and host communities, and sustained pressure on economic saboteurs operating along the Ogun border corridors.
These measures, according to stakeholders, have resulted in significant seizures of prohibited goods and reinforced the Command’s resolve to safeguard Nigeria’s economy and territorial integrity.
Maritime and border trade stakeholders also cautioned against the spread of unverified information capable of undermining the efforts of security personnel or creating a false impression of lawlessness in border communities.
They stressed that while combating smuggling remains an ongoing responsibility, responsible and accurate reporting is equally critical to ensuring that operational achievements are not overshadowed by misinformation.
The Ogun I Area Command reaffirmed its commitment to sustaining its anti-smuggling campaign while facilitating legitimate cross-border trade in line with the statutory mandate of the Nigeria Customs Service.
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