The Comptroller‑General of the Nigeria Customs Service NCS, Bashir Adewale Adeniyi has underscored the vital role played by the Service in fighting illicit financial flows (IFFs). He spoke during the opening session of the National Conference on Combating Illicit Financial Flows in Abuja.

According to him, Customs’ daily operations include close 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 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, the Economic and Financial Crimes Commission 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”.