The Senate Joint Committee on Customs, Excise, Tariffs and Marine Transport has said it has been able to recover over N140 billion following its probe into Nigeria’s import and export value chain.

The committee which is requesting another eight weeks to enable it carry out further investigations into the area of leakages said in its report that some banks had remitted N128 billion to the CBN, while some of the 60 companies investigated made voluntary payments of N12 billion into federal government’s coffers.

Chairman of the committee, Samuel Anyanwu while presenting the report said, “As a result of this exercise, some collection banks have made additional remittances to the Central Bank of Nigeria to the tune of N128 billon and evidence of payment and receipt has been received by the committee.

“From the selected 60 companies, over N12 billion payment have been made to the government voluntarily by the companies based on their internal self-audit after receiving documented evidence of their culpability from our committee.

The Committee however also said, there were still a huge deficit in the payments made as none of the banks or companies had fully cleared the huge deficits established against them.

The report said “It is instructive to note that despite all the payments so far made, none of the approved collection banks or the selected companies has fully cleared the established liabilities against them”

The Senate Committee is requesting for another eight weeks to enable it carry out further investigations and has currently ensured that all the recovered sum has been deposited at the CBN