Customs Suspends Erring Firm As AEO Scheme Delivers N362.79bn Revenue Surge

The Nigeria Customs Service has recorded a revenue increase of N362.79bn, representing a 29.68 per cent rise, under its Authorised Economic Operator programme, with earnings from 51 certified entities growing from N1.222tn before certification to N1.585tn as of October 27, 2025.

The development was disclosed in a statement issued on Thursday by the Deputy Comptroller of Customs and National Public Relations Officer, Abdullahi Maiwada.

According to the statement, the programme contributed 21.77 per cent to the Service’s total N7.281tn revenue collection for 2025, while customs duties paid rose by 85.66 per cent due to improved compliance and increased legitimate trade volumes.

An internal monitoring and evaluation report indicated an average compliance rate of 85.45 per cent among participating firms, with the highest at 100 percent and lowest at 60 percent.

The assessment followed established methodologies aligned with the World Customs Organization SAFE Framework of Standards and provisions of the Nigeria Customs Service Act, 2023.

The Service also reported notable trade facilitation gains, including a reduction in cargo clearance time from 168 hours to 41 hours, translating to a 75.60 per cent time saving.

Operating costs for participating companies fell by 57.2 per cent, while demurrage charges declined by 90 per cent, a move the agency said helped limit capital flight to foreign port service providers and support foreign exchange retention.

“Overall trade efficiency improved by 77.11 per cent through digitalisation, simplified procedures, and targeted risk management,” the statement read.

The Customs Service further commended several firms including Coleman Technical Industries Limited, WACOT Rice Limited, ROMSON Oil Field Services Ltd, WACOT Limited, Chi Farms Ltd, CORMART Nigeria Ltd, PZ Cussons Nigeria Plc, Nigerian Bottling Company Limited and MTN Nigeria Communications Plc for voluntarily remitting over N1bn to the Federation Account after self-initiated transaction reviews.

According to them, this actions helped strengthen post-clearance audit mechanisms and growing voluntary compliance among traders.

However, the Service disclosed a compliance breach involving a recently certified operator accused of false declaration of consignments.

Following the discovery, “the Comptroller-General of Customs, Bashir Adewale Adeniyi, PhD, MFR, directed the immediate suspension of the company’s AEO status in accordance with the AEO Guidelines, the WCO SAFE Framework of Standards, and Section 112 of the Nigeria Customs Service Act, 2023.”

The NCS reiterated that the AEO scheme is built on trust, transparency, and continuous compliance, noting that compliant operators would continue to enjoy expedited clearance and reduced inspections, while violations would attract sanctions.

“The Service remains resolute in safeguarding national revenue, facilitating legitimate trade, and preserving the integrity and global credibility of Nigeria’s AEO framework,” the statement said.