Comptroller-General of Customs, Bashir Adewale Adeniyi, has underscored the crucial role of the Nigeria Customs Service (NCS) in tackling illicit financial flows (IFFs), during the opening of the National Conference on Combating Illicit Financial Flows in Abuja.

Adeniyi noted that Customs’ daily operations involve rigorous monitoring of cross-border cash movements and negotiable instruments, enforcing mandatory declarations for transactions exceeding 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.

He emphasised that addressing IFFs requires a coordinated approach, especially ahead of Nigeria’s upcoming assessment by the Financial Action Task Force (FATF). According to him, Customs, tax authorities, the EFCC, and other relevant agencies must work collaboratively to tackle the issue.

Also speaking at the conference, Minister of State for Finance, Doris Anite, said Nigeria’s historical reliance on volatile oil revenues has underscored the urgency of ongoing fiscal reforms.

She highlighted the shift toward non-oil revenue sources, particularly taxation, as critical to national development.

“By strengthening tax systems,” she said, “we can build a more inclusive and accountable fiscal framework, reduce debt dependency, and ensure that all sectors contribute fairly to economic growth.”