N30tn Revenue Probe: 11 Companies Appear Before Senate Panel


The threat by the Senate to order the arrest of the managing directors of 33 companies for failing to appear before a Senate investigative panel seems to be yielding results as 11 of the organisation have made an appearance before it.

The Senate Joint Committee on Customs, Excise, Tariff and Marine Transport is investigating the loss of nearly N30 trillion of government revenue in the maritime sector.

The companies have been accused of complicity in the loss of the huge amount in the import and export value chain in the country.

Some of the companies appearing before the Senate committee are Dana Group, China Export, Halliburton as well as Cfao Group, FrieslandCampina and British American Tobacco.

The Chairman of the Senate Committee on Customs, Senator Hope Uzodinma, told journalists after closed-door meeting with the companies, that the managing directors of the organisations are admitting that there is recoverable government revenue in the hands of importers.

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