The House of Representatives has begun a series of oversight meetings with important revenue-generating agencies of the federal government to evaluate their efficiency and the application of fiscal policies vital to government income.
On Tuesday, the Nigeria Customs Service (NCS), Corporate Affairs Commission (CAC), and Federal Airports Authority of Nigeria (FAAN) testified before the Committee on Finance regarding their revenue collection efforts and to clarify discrepancies in data and revenue projections.
The committee, led by James Faleke (APC, Lagos), aims to audit the revenue performance of various Ministries, Departments, and Agencies (MDAs) to improve accountability, bolster internal controls, and guarantee adequate remittance into government funds.
Concerns Over Revenue Implementation Flagged by Comptroller General
Bashir Adeniyi, the Comptroller General of the Nigeria Customs Service, informed lawmakers that several revenue items budgeted for collection had yet to be enforced, resulting in a significant gap between projected versus actual collections.
He pointed out that an expected N3 trillion from excise duties on specific products, along with duties on reusable plastics and telecom goods, remains uncollected. These initiatives were halted shortly after their inception amid public feedback.
“There are still unresolved issues connected with the Finance Act,” he remarked, clarifying that if fiscal policies are not acted upon, it complicates any revenue projections for items whose collections have been suspended. He also noted that his agency does not escalate these issues to the president; rather, it is their duty to implement the policies.
The CG was advised to formally communicate with the chairman of the finance committee, Mr. Faleke, along with NCS leadership on the outstanding items.
Corporate Affairs Commission Defense Delayed Due to Missing Data
Earlier, the committee postponed the defense session for the Corporate Affairs Commission (CAC) after its Registrar-General, Hussaini Magaji, could not provide critical data regarding the total number of registered companies in Nigeria.
Lawmakers expressed disbelief at the CAC's inability to provide precise data from their records. Committee member Stanley Adedeji (PDP, Oyo) found the oversight unacceptable and proposed that the session should be adjourned until comprehensive records could be submitted.
“This individual lacks the competence to manage this agency,” stated Mr. Adedeji. “You must present factual records before us. If you're not able to speak accurately, we should replace you and schedule another session.”
The motion to adjourn was accepted unanimously, directing the CAC Registrar- General to return the following Tuesday with detailed and verifiable information regarding company registrations and the agency’s revenue profile.
During his talk, Mr. Magaji tried to outline revenue generated from company registrations, business name registrations, annual returns, certifications, enforcement of compliance, and accreditation fees. However, inconsistent figures raised concerns about the reliability of the data provided.
FAAN's Transition to a Cashless System
The committee also welcomed Olubunmi Kuku, managing director and CEO of the Federal Airports Authority of Nigeria (FAAN), who shared plans to enforce electronic payment systems throughout all airports.
Ms. Kuku stated that this initiative is part of the federal government’s larger fiscal reform agenda designed to eliminate revenue leakages, enhance internally generated revenue, and promote transparency. "This initiative stands for accountability and sustainability,” she mentioned. “We are ensuring that all income due to the federal government is collected while boosting operational efficiency."
She detailed that the transition to a cashless system commenced with awareness campaigns, advertising initiatives, and stakeholder engagements that started in mid-2025. Ms. Kuku acknowledged early congestion at some airport toll points but deemed it temporary as users adjusted to the electronic payment systems.
FAAN currently provides four payment methods at airport tolls: annual e-tags for frequent users, VIP stickers, bank ATM cards including contactless/NFC- enabled cards, and cashless cards issued by FAAN that can be obtained at airports or partnering banks. She highlighted that commonly used domestic cards, including Verve, are supported by the system.
Ms. Kuku concluded that enhancing revenue collection would improve service delivery, help maintain infrastructure, and expedite airport modernization efforts across the country.
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