The Nigerian  Senate has threatened to move against two  major rice  importers, Stallion Group of Companies and Olam Nigeria Limited for  flouting  debit notes of Nigeria Customs and Excise Duties  and illegally accumulating debts to the tune of N44 billion.

 Making the revelations during the interaction between rice importers and  the Senate sub-Committee on Rice Importation Waiver, its Chairman, Sen. Adamu Aliero on Monday disclosed that the rice importers owed the Federal Government  the sum of N44b illegally. He quoted   records available to the Committee which revealled that Stallion Group of Companies and Olam Nigeria Limited were  the worst culprits. He urged  them to pay the outstanding balance with immediate effect or  prepare to face the consequences as the Committee intends to brief the Federal  Ministry of Justice to take necessary action to recover the money.

 "The Rice importers were owing the Federal government of Nigeria the sum of N44 billion and this is illegal, but I want to advise that your companies should go and pay these monies immediately", Aliero advised.

 He argued  that their action have flouted the debit notes of Nigeria Customs which took effect on June, 2014, noting that the Senate would liaise with the Federal Ministry of Justice to ensure legal approach to recovering these sums especially that the country was passing through economic hardship.

 "You know action in this regard flouted debit notes of Nigeria Customs and Excise Duties which you know does not happen anywhere in the world", he argued

 However the two companies has denied the indebtedness. In his reaction, the Managing Director of Stallion Group of Companies, Mr. Harpreet Singh denied his company was owing government. He said  that Stallion has paid the sum of N17 billion and that was in compliance with debit notes and that was how Nigeria Customs cleared their goods. We have paid N17 billion duties on rice imported so far under the new policy", Singh said.

 In his own reaction,  Mr. Ade Adepeko, Head of Corporate Communications of Olam Nigeria Limited said his  company has fully complied on payment of duties, while disputing that they were not owing.