FEC okays N142bn e-Customs project

The Federal Government, on Wednesday, in Abuja, approved an e-Customs modernisation project worth at least N142.24bn amid reports of an existing court order restraining it from proceeding with the project.

The Minister of State, Budget and National Planning, Clem Agba, who said he was unaware of any court order on the project, disclosed this to State House correspondents shortly after this week’s Federal Executive Council meeting, presided over by Vice President Yemi Osinbajo at the Council Chambers of the Presidential Villa, Abuja.

The concessionaire includes Bergman Securities Consultant and Suppliers Limited as the project sponsor, Africa Finance Corporation UFC as the lead financier and Huawei Technologies as the lead technical service provider.

Agba said the concessionaire had furnished the government with $9m (N4.14bn) security from the satisfactory performance of the project plus a debt facility timesheet in the sum of $300m (N138bn) to finance the first phase of the project.

He also revealed that the concessionaire will take 45 per cent of all that accrues to the comprehensive input service scheme while 55 per cent goes to the FG.

The concessionaire will also keep 25 per cent of what accrues to the Nigerian export supervision scheme, while 75 per cent will go to the FG.

On April 18, two Senior Advocates of Nigeria reportedly asked the Attorney-General of the Federation, Abubakar Malami, to obey a court order relating to a dispute on the e-Customs Modernisation project.

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