By: Peace Udugba
Comptroller-General of Customs, Bashir Adewale Adeniyi, has underscored the critical role of the Nigeria Customs Service (NCS) in combating illicit financial flows (IFFs) at the opening session of the National Conference on Combating Illicit Financial Flows held in Abuja on Tuesday, July 22, 2025.
He noted that the NCS plays a central role in monitoring cross-border movements of cash and negotiable instruments, ensuring strict enforcement of 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 said.
Acknowledging the complexity of IFFs, Adeniyi emphasized that the upcoming Financial Action Task Force (FATF) assessment demands a whole-of-society response — including collaboration among Customs, tax authorities, the EFCC, and other relevant agencies.
Also speaking at the event, Minister of State for Finance, Doris Anite, highlighted Nigeria’s overdependence on volatile oil revenue. She stressed that current reforms aim to diversify the revenue base, with a renewed focus on taxation.
She urged participants to help build a more inclusive and accountable fiscal system capable of funding national development, reducing reliance on debt, and ensuring equitable contribution from all sectors of the economy.
