Guaranty Trust Bank (GTB) has been suspended by the Nigeria Customs Service (NCS) from collection of duties on imported cargoes at Nigerian ports following an order from the National Assembly.
The National Public Relations Officer of Nigeria Customs Service, Deputy Comptroller Mr. Timi Bomodi while confirming the development, said the bank was on temporary suspension on orders of the National Assembly.
Reacting to the development, the President of the National Council of Managing Directors of Licensed Customs Agents, NCMDLCA, Mr. Lucky Amiwero disclosed that it is only the Central Bank of Nigeria, CBN, and the Nigerian Customs Service through the Ministry of Finance that can suspend an import duty collecting Bank.
Amiwero however agreed that the National Assembly by virtue of its oversight function can also suspend a Bank if the Bank is found to be involved in any form of corrupt or sharp practice.