The Senate Committee on Finance is conducting an investigation into ₦34 trillion in Import Duty Exemption Certificates (IDECs) issued from March 2020 to December 2025. Senator Sani Musa, the committee chairman, warned that government agencies failing to attend hearings face potential sanctions or reports to President Bola Tinubu. Among the groups summoned are the Nigerian Civil Aviation Authority, SMEDAN, and the Industrial Training Fund.
Bashir Adewale Adeniyi, the Comptroller-General of the Nigeria Customs Service, stated that 60 percent of the duty waivers were for military equipment, with others supporting CNG initiatives, medical supplies, and food programs. While defending these as policy tools for security and development, he noted the agency’s recent revenue gains, including exceeding its 2024 target. The Fiscal Responsibility Commission alleged that Customs has outstanding remittances and outdated audits, leading the committee to demand updated records within one week.
The Corporate Affairs Commission admitted to an outstanding operating surplus of ₦13.9 billion and is currently working to settle the balance. Meanwhile, the Senate expressed frustration over the absence of the NNPCL leadership during the hearing, rescheduling their testimony for next week. Senator Musa emphasized that all government entities must provide full transparency regarding public funds during this legislative oversight process.
