The Senate has given legislative backing to the Federal Government to recover over N447 billion revenues lost to illegal concessioning and waivers granted between 2011 and 2015.

The Senate while adopting the report and recommendations of the Senate Committee on Import Waivers chaired by Adamu Aliero, urged the Federal Government through its relevant agencies to immediately recover the funds.

Aliero said that part of the committee’s findings was that the Budget Office used a Presidential Approval from Late President Yar’Adua to the Finance Minister Shamsudeen Usman.

According to him, the authorization which was contained in a letter issued in 2008, gave the then Finance Minister powers to grant waivers without recourse to the President and was abused by the agencies that granted said waivers.

The committee therefore recommended that all agencies of government involved in the illegal waiver regime be sanctioned appropriately while the companies that abused such waivers, made to refund the money.

The report alleged that most of the companies who got waivers and concessions either got them without meeting legal requirements or over shot the waiver allocation granted them.

The senate also directed the immediate refund of over N66 billion by some of the benefiting companies which included Olam International, Dangote Group and Golden Penny.

According to the Chairman of the Committee Adamu Aliero, the companies either acquired import waivers without meeting the requirements or they imported much more than was allocated.

This directive of the Senate was part of the committee’s 22 recommendations, who also gave the companies ultimatum to pay back the sums due to the Federal government.

“The Senate urge the Federal Government to direct the agencies charged with the responsibility of collecting revenues to recover all outstanding revenues from companies that abused the waivers and concession before the end of the fiscal year.

“Olam International, Stallion Group/Popular Foods, Milan Group be made to pay the import duty demand in the sum of N24.3 billion served on them by Nigeria Customs Service for exceeded quota: failure means sanctions.

“The purported transfer of 100,000 metric tonnes of rice by JNI to Elephant Group is illegal therefore the import duty in the sum of N687 million should be recovered from Elephant Group.

“The Federal Government should recover the appropriate Import Duty from beneficiaries of the 2014 rice import quota because they did not meet the criteria for granting the waivers.

“Dangote Limited, N1.03 billion: Kersuk Farms, N1.92 billion: BUA Group, N3.70 billion: Elephant Group, N1.50 billion; Milan Group, N1.85 billion and Golden Penny, N284 million.

“BUA Sugar Refinery should pay the balance of five per cent import duty and 45 per cent levy for 2013 and 5 per cent import duty and 65 per cent levy for 2014 -2015 amounting to N31.744 billion.

“The Meditarion Limited should be made to pay the import duty for excess and under invoicing 2,161,440 kilo grams of St. Louis Sugar in 2014 amounting to N82 million,” the report said.

The Senate alleged that Coscharis Motors received waivers and imported 897 vehicles in 2015 while Globe Motors also imported 714 vehicles which were above the allocation granted the two companies.

The Senate also urged FG to stop granting waivers for concessionary import of vehicles for international meetings and conferences.

They directed further investigation into the concession granted some companies in the Hospitality/Hotel sector who had contravened the terms of the concession.

The said companies includes: Grand Pela Hotels Abuja, Robert Dyson and Diket Limited, AA Entertainment LTD, Lagos, Dona Mario Hotels, Lagos, Stevemec Hotels, Lagos and D’ Palm Airport Hotel all with fictitious addresses.

Victoria Crown Plaza Limited Lagos was also alleged to have fictitious address while Praise Hotel and Water Park Limited Lagos had no information with the Corporate Affairs Commission (CAC).

Other beneficiary companies with no information in CAC were Prejoy Nigeria Limited, Abia State, Mob/Nech Construction Company Limited, Port Harcourt and Le Meridien Grand Ikoyi Towers and Resort, Lagos.

“The concession to Noble World Hotels and Suites Limited and AMSSCO Limited be terminated as the companies did not utilize the concession.

“All relevant agencies should investigate the illegal process that seems to hamstrung the Nigerian Customs Service from collecting the import duty due to Ibeto Group cement importation,” it said.

Senate President Bukola Saraki in his remark charged all relevant agencies of government to ensure strict adherence to the recommendations.

He said that Nigeria could not continue to do business with companies who always sought to take advantage and defraud the Federal Government.

“Those agencies must ensure that every single money is recovered: particularly in the area of Agriculture, rice and sugar that is affecting diversification of our economy.

“This is clearly sabotage of our economy and we must ensure those monies are recovered and those involved sanction.

“Some of these companies are foreign companies and we must ensure that things that they cannot do in their countries should not be tolerated in our country.

“There is easy entry and easy exit, if they are not ready to abide by our rules I think we should show them the way out and ensure that these are not the kind of companies that do business with us.

“It is not just to pass these recommendation but after three months we must get a follow up report, if not those agencies involved must be called to tell us why these recommendations had not been met,” he said.

Senate Leader Mohammed Ali-Ndume also contributed, charging the government to swiftly swing into action to recover the money before it becomes too late.

He said that since the nation’s economy was struggling, the infusion of over N400 billion would be of great benefit to the nation. Orderpaperng