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E-customs Project: Block Access To $300m Fund, NGOs Beg President Muhammadu Buhari

by Tarkaa David
2 years ago
in Business, News
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A coalition of Non-Governmental Organisations, Forum of Non-Governmental Organisations in Nigeria (FONGON), Thursday, asked President Muhammadu Buhari to stop what it termed as a hasty attempt to access the sum of $300m from the Comprehensive Import Service Scheme/Nigeria Export Supervision Scheme, (CISS/NESS) accounts in respect of E-customs project.

The Presidential Initiatives on Customs Modernisation, otherwise known as the e-customs project is a Public-Private-Partnership concession, aimed at easing the cost of doing business, boosting revenue, enhancing productivity, and stopping arbitrariness in the service.

Addressing a press conference in Abuja, the National Coordinator of FONGON, Comrade Wole Badmus, alleged that Trade Modernisation Project Ltd, the new concessionaire, was registered in April 2022, and never participated in the negotiations on E-Customs Modernisation Project which started as far back as 2015.

FONGON disclosed that Buhari had earlier approved the engagement of the consortium Bionica Technologies (West Africa) Limited; Bergmans Security Consultant and Supplies Limited; Africa Finance Corporation; and Huawei to establish a Special Purpose Vehicle (SPV) to enter a 20-year concession arrangement with Nigerian Customs Service and Infrastructure Concession Regulatory Commission (ICRC) for the E- Customs project.

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The group recalled that, the ICRC had earlier in a letter to the Chief of Staff to the President provided a succinct framework and financial plan for the project.

In a letter 22 May, 2019, the DG/CEO of the ICRC, wrote:

“The Private partners to the project will raise the required financing for the project through contributions from the Promoters Equity, Loans and Vendor Financing from all Original Equipment Manufacturers (OEMs), including Huawei. The proposed Financing Plan for the project shows that the project will be financed through $30million equity and $270m debt financing in Phase 1, while $180m will the Capital Structure for Phase 2, (years 7 to 12). The third and final phase of the project will be financed through retained earnings and excess cash flows.”

“We are alarmed that this clause is not reflected on the concession agreement signed by Trade Modernisation Project Ltd (TMPL) as document in court reveals. The HMOF and AGF simply looked the other way in order to allow TMPL access to the Comprehensive Import Service Scheme/Nigeria Export Supervision Scheme, (CISS/NESS) accounts without showing evidence of commensurate investments done as envisaged by the financial plan drawn by ICRC. It was simply replaced with a clause to access the CISS/NESS account from date of commencement”.

He asked the Economics and Financial Crimes Commission ( EFCC) to restrain illegal depletion and withdrawals from the CISS/ NESS accounts of the Nigeria Customs Service and called on the president to ensure that due process is followed in the commissioning process.

“The desperation to access the CISS/NESS accounts before the departure of the current administration is quite suspicious. At the FEC briefing of 19 April 2023 the Hon Minister of State for Finance, Clem Agba informed the nation that Trade Modernisation Project Limited is the new concessionaire and that they have already signed the term sheet for the $300m first phase but failed to tell the nation that Nigeria Customs Service has already written to the HMOF requesting Trade Modernisation Project Limited to be included on the payment platform to commence draw down on the CISS/NESS accounts in clear violation of the Presidential directive.

“The clear implication is that the so-called new concessionaire will make no investment but depend on the CISS/NESS account. We ask the EFCC to move fast and restrain illegal depletion and withdrawals from the CISS/ NESS accounts of the Nigeria Customs Service!

“Nigerians need to know that presently the dispute on the rightful concessionaire to the E-customs project is before the Federal High Court, Abuja.

In June 2022, the court restrained the Federal Government from enforcing or giving effect to the agreement on the Customs Modernisation Project otherwise known as E- Customs allegedly executed by its agents on May 30, 2022, which substituted the rightful concessionaire with another company- Trade Modernisation Project Limited- registered at the Corporate Affairs Commission in April 2022.

“We urge President Muhammadu Buhari to halt any hasty move to access the $300 million from the CISS/NESS) accounts in respect of the E-customs project. Also, the president should ensure that due process is followed on the E-customs project’’, Badmus said.

 


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