5 March 2018

Nigeria: Alleged Import Fraud - House Probes Olam Group, Pancham Int'l, Chelsea Hotel Others

Abuja — Chairman, House of Representatives Committee on Customs, Hon. James Abiodun Faleke‎ has said that‎ investigation into alleged multi billion naira fraud perpetrated by some companies through massive breach of importation procedures, which led to huge loss of revenues to the Federation Account has commenced.

The chairman told journalists in Abuja that the committee had invited the affected companies to appear and clear the charges against them or face the wrath of the law.

The House had in plenary on December 9, 2017 mandated the committee to investigate alleged infractions of import procedures leading to monumental loss of revenue to the nation.

Faleke said the committee was determined to carry out a thorough forensic Investigation in line with its mandate."

He said: "The unpatriotic and fraudulent act of some of these companies had cost the nation a lot financially. We are talking of losses probably in Trillions of Naira that should have accrued to our common purse."

He said the Committee is not on a mission to witch-hunt but on an "altruistic, patriotic mission aimed at recovering our collective patrimony from unpatriotic elements and corporate entities."

The lawmaker said letters detailing the alleged infractions had been dispatched to the affected companies for appropriate responses and fair hearing.

Some of the companies in the first batch include, Seaview Emporium Ltd, Pancham International ltd, Alfatek Integrated Ventures, Verona Industries Ltd, Vital Products Ltd, Odun & Remy Trading Company.

Others are Mac Resolute Service Ltd, Viscous Global Investment Ltd, Fadobra Ventures Ltd, China Homes and Office Equipment, Links World Redemption Enterprises, SCC Nigeria Limited, J.I. Ejison International Nigeria Limited, and Tak Continental Ltd. Others are Metal African Steel Products Limited, Sunshine Guest House &Hotel Ltd, Elim Top Suite Ltd, Noktel Resort Hotel, Naks Hotels & Tower Ltd, Luxurium Leisure Service, Chelsea Hotel, and Vinimo.

"Others are Hotel Dabras, Skills Suites, Amassco Ltd, Cynergy Suites Ltd, Olam Group, News Engineering Ltd, Diamond Star Port & Terminals Ltd, Rite Aid Wire Industries Limited and Amioun Steel Limited."

Furthermore, Faleke said: "Investigative Hearing Commences from March 7, 2018 and all the companies invited are expected to appear on the date allotted to them unfailingly or risk Sanctions."

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