Reps summon minister over N32bn revenue loss

The House of Representatives Public Accounts Committee Thursday summoned the Minister of Trade and Industry, Niyi Adebayo, over alleged loss of over N32bn revenue in the Export Free Trade Zones.

The chairman of the committee, Wole Oke, issued the order following the minister’s failure to appear before the panel.

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He said Adebayo was to shed light on the claims by some companies indicted by the Office of the Auditor-General for the Federation that the ministry allegedly issued them with fake Certificates of Capital Compliance for tax waivers.

Oke said the multinational companies operating in the Free Trade Zones were said to be parading fake Capital Compliance Certificates over the years.

He said this had cost huge loss revenues expected to be collected by the Federal Inland Revenue Services.

He said the committee would report the minister to President Buhari to be aware of how some of his appointees were handling their assignments

“Consequently, an official letter on the matter should be forwarded to the Secretary to the Government of the Federation, the Chief of Staff to the President and the Attorney-General of the Federation for them to be aware of what is going on”.