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 TAJBank has announced its recent appointment as a Receiving Agent by the Nigeria Customs Service (NCS). A statement released today by the bank, the nation’s second non-interest financial institution, says TAJBank will serve as an official agent for the NCS for the collection of all forms of its revenues.

TAJBank was licensed by the Central Bank of Nigeria (CBN) on July 12th, 2019. The Bank offers an array of products and services across private banking, retail banking, business banking, development finance and the public sector.
   
With its head office in Abuja and branches in the nation’s capital and Kano, TAJBank said it has plans to expand across the country.

The NCS was established in 1891 and has the responsibilities of revenue collection, accounting for revenue collected and anti-smuggling in the country. According to information on its website, the NCS collected a total of N346.5 billion in 2019 and remitted the same into the Federation Account.

On anti-smuggling, the NCS said it effected a total seizure of 53 containers and three non-containerized cargoes in 2019. The seizures included rice, used tyres, pharmaceuticals, vegetable oil, military accoutrements and other items, with a total duty paid value of N5.8 billion.

The NCS listed 21 Nigerian banks on its website as the banks it appointed for the collection of Customs duties and taxes. It has yet to update the list with TAJBank as of June 10, 2020 (7:30pm local time).

TAJBank said it was committed to deploying cutting edge information technology to broaden the revenue collection platforms of the NCS and provide e-payment options for revenue payers, in a model it said would ease revenue collection and boost the revenue drive of the Federal Government.