The Lagos Chamber of Commerce and Industry LCCI has frowned at the manner in which Nigeria Customs Service NCS have gone about the auto audit which saw auto dealers shops been closed for about three weeks.
LCCI Director General, Muda Yusuf, the group regretted the intimidating manner the shops, which is a vital segment of the economy, were closed for three weeks.
He said: “There is nothing wrong with an audit exercise; what is not right is the ominous and intimidating manner the exercise was carried out. The premises of the companies were sealed for about three weeks, paralysing their entire operations. We believe that the audit exercise could still be carried out without the sealing up of the business premises of the companies for that length of time.”
He said the action of Customs could cause embarrassment to the management and shareholders of the company with negative signaling effect to investors.
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