Minister of Finance, Dr. Ngozi-Okonjo-Iweala, on Monday faulted the proposed Nigeria Customs Service (NCS) bill, saying that it vested too much power in the Customs.

The bill aims to repeal the Customs and Excise Management Act (2004) and enact the Nigeria Customs Service Act.

Okonjo-iweala made her observations known at the public hearing on the bill organised by the Senate Committee on Finance in Abuja.

She noted that the Customs Service was an important tool for revenue collection and for facilitation of trade between countries being supervised by the Ministry of Finance.

She further observed that the bill vested too many powers in the Customs at the expense of the president and the minister, thereby making it inimical to the economic goals of the government.

“We do not consider this a good bill at the moment, in terms of the economic development of the country and we think that it would need significant amendment of some sections.

“With the present bill, the policy making and executing powers are all vested largely in the Customs and are not separate.

“We believe that the bill should separate policy making powers from the executing powers, so that they can be properly aligned.

“Many of the powers of the president that are granted in the former bill have now been rescinded and many of the powers of the minister in the former bill have also now been rescinded,” she said.

According to her, the existing law provides that the board of the NCS shall be under the control of the Minister of Finance, who has the powers to make appointment into the board.

Okonjo-Iweala said that the minister’s powers to appoint members of the board were limited to a few persons while large powers of appointing the member were vested in the Customs Service.