Reported by: Puis Althea | Edited by: Oravbiere Osayomore Promise.
The Fiscal Responsibility Commission (FRC) has expressed concern over the failure of the Nigeria Customs Service (NCS) to submit its audited financial statements since 2019, warning that the continued delay violates public financial accountability requirements.
The Acting Executive Chairman of the commission, Charles Chukwuemeka Abana, raised the concern on Wednesday, July 22, 2026, when he received a delegation from the Nigeria Customs Service at the FRC headquarters in Abuja.
Abana said the failure of the Customs Service to provide its outstanding audited financial reports was contrary to the provisions of the Fiscal Responsibility Act, 2007, which requires government-owned enterprises and relevant agencies to prepare, publish, and submit audited financial statements within three months after the end of each financial year.
The FRC chairman urged the Customs Service to immediately submit its outstanding financial statements and ensure compliance with statutory reporting obligations. He also stressed the need for the agency to properly account for its finances and remit its operating surplus into the Consolidated Revenue Fund as required by law.
According to the commission, delayed submission of audited accounts by government agencies affects transparency, weakens fiscal planning, and makes it difficult for regulators to accurately assess financial performance and determine obligations owed to the government.
The FRC also encouraged the Nigeria Customs Service to improve its revenue generation process while maintaining accountability and prudent management of public resources.
Abana explained that the commission had developed a template for calculating operating surplus, which government agencies are expected to use when determining amounts due for remittance to the Consolidated Revenue Fund.
He noted that agencies that comply with financial reporting requirements contribute positively to national economic management and strengthen public confidence in government institutions.
The FRC boss referenced improvements recorded by other government agencies after engaging with the commission on financial reporting compliance, urging the Customs Service to take similar steps to resolve outstanding obligations.
Responding on behalf of the Nigeria Customs Service delegation, Comptroller of Accounts Amedu O. acknowledged that communication challenges contributed to delays in meeting the commission’s reporting requirements.
He assured the FRC that the Customs Service would take immediate steps to submit the outstanding audited accounts and work with the commission to reconcile its financial submissions with approved operating surplus calculations.
The meeting ended with both institutions reaffirming their commitment to improving transparency, accountability, and financial discipline within the public sector.
The development comes amid continued efforts by regulatory agencies to enforce compliance among government institutions, particularly regarding the timely submission of financial reports and proper management of public funds.
The Fiscal Responsibility Act places obligations on government-owned enterprises and agencies to maintain financial discipline, publish relevant reports, and ensure that government revenues are properly accounted for.
As the Customs Service begins the process of submitting its outstanding accounts, attention will remain on how quickly the agency addresses the compliance concerns raised by the Fiscal Responsibility Commission.
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