Revenue Reform Conference: CGC Adeniyi Highlights Importance of Customs in Curbing Illicit Financial Flows

ZAINAB JUNAID

The Comptroller‑General of Customs, Bashir Adewale Adeniyi MFR, on Tuesday, 22 July 2025, highlighted the importance of Nigeria Customs Service (NCS) in curbing Illicit Financial Flows (IFFs) at the opening session of the National Conference on Combating Illicit Financial Flows in Abuja.

According to him, the Customs’ daily operations include tight monitoring of cross-border movements in cash and negotiable instruments, enforcing mandatory declarations above threshold values.

“In the last six months, Customs has tightened loose ends at all our borders to ensure that declaration protocols are diligently implemented,” he said.

The CGC noted that the forthcoming Financial Action Task Force (FATF) assessment requires a whole-of-society approach, involving Customs, tax authorities, EFCC, and other agencies working collaboratively.

Also, the minister of State for Finance, Doris Anite, told delegates that Nigeria has relied heavily on volatile oil revenue for decades, and current reforms requires urgent need to diversify the Country’s revenue base, shifting focus to non-oil, particularly tax.

“By strengthening tax systems, the participating members should create a more inclusive and accountable fiscal framework, capable of funding national development, reducing debt dependency, and ensuring all sectors contribute fairly to growth,” she added.