RRC: Adeniyi Highlights Customs’ Role In Curbing Illicit Financial Flows

BY FUNMI ALUKO

Comptroller General of Customs, Bashir Adewale Adeniyi MFR Tuesday, July 22, 2025 emphasised the vital role of the Nigeria Customs Service (NCS) in fighting illicit financial flows (IFFs).

Adeniyi who was speaking during the opening session of the National Conference on Combating Illicit Financial Flows in Abuja said that Customs’ daily operations include tight monitoring of cross-border movements in cash and negotiable instruments, and enforcing mandatory declarations above threshold values.

In a release made available to Pinnacle Time by the Customs National Public Relations Officer, AC Abdullahi Maiwada, the customs boss listed key intervention roles by the NCS.

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

Highlighting the complexity of illicit financial flows, Adeniyi stressed 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.

Minister of State for Finance, Doris Anite, told delegates that Nigeria relied heavily on volatile oil revenue for decades. Current reforms recognise the urgent need to diversify our revenue base, shifting focus to non-oil, particularly tax.

By strengthening tax systems, she asserted that “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”.