 The House of Representatives Committee on Customs has recommended the suspension of EcoBank PLC from collecting all customs duties on behalf of customs until the bank remits all outstanding of 4.4 billion error it presently owes the customs. The recommendation is coming after months of deliberations between EcoBank PLC management on ways to remit the said amount to the federal government coffers. The committee was tasked with the responsibility of verifying and reconciling all revenue receipts and remittances of customs duties and excise levels for the period of January 2009 and December 31st 2019. It invited all the banks to profit ways to remit the unaccounted monies back to the consolidated revenue account of the federal government. But after months of deliberations the hammer fell on EcoBank PLC for failure to convince the committee that it is ready to remit over 4.4 million error it owes and also for its failure to submit financial report of its legacy bank that the front oceanic bank it acquired. The committee recommended the suspension of EcoBank PLC from collecting customs duties to further notice. Other the 14 banks like Zenith Bank, Polaris Bank, Fidelity Bank and others were however given one week to tidy up their books and remit money is owed of face suspension like EcoBank. As of January 2019, as of December 31st 2019, there is nothing not a single power standing against Stratus Christumbank. And it's a matter of time sir we asked for three weeks grace and I believe that we three weeks will get it out for them sir. We got an information that initial one was not in tandem with what was requested that's the format so we had to respool all over and then we sent to the auditor. In response to this shadow given to us we made submission to the consultant giving them detailed information on remittances of majorly all the item listed against the bank has been remitted. The committee adjourned to reconvene next week for its final report before submitting it to the House for further legislative action. And don't forget to hit the notification button so you get notified about fresh news updates.