NIGERIA CUSTOMS SERVICE ACT, 2023
Section 217: Financial guarantee
1 An applicant for excise license is required to post a financial guarantee, which must be maintained throughout the license periods.
2 The amount of the financial guarantee shall be determined by regulations.
3 An excise license holder may provide the financial guarantee by posting a bank-bond, providing a deposit of funds to be held in escrow, or other form of payment guarantee, subject to conditions and procedures specified by the regulations.
Cite this section
Section 217, NIGERIA CUSTOMS SERVICE ACT, 2023 (2023).
https://repo.podus.ai/laws/nigeria-customs-service-act-2023/section/217/