The Subic businessmen sent the petition to Subic Bay Metropolitan Authority (SBMA) chairman Felicito Payumo who, in turn, forwarded it to Office of the President.
The petition, with attached documents, has been referred to Finance Secretary Jose Isidro Camacho, whose office supervises the Bureau of Customs, for appropriate action.
The Subic company owners scored the "red tape" at the Customs office at the freeport, which they said had unduly hiked their production costs.
Customs Commissioner Titus Villanueva had tried to remove Bibit as Customs district collector but Bibit, a former leader of the Rebolusyonaryong Alyansang Makabansa (RAM), managed to secure a temporary restraining order from one Judge Eliodoro Ubiadas.
When sought for comment, Payumo said he would work closely with whoever the Department of Finance would appoint as Bibits replacement.
The STAR tried to get Bibits side but failed.
Bibit and other RAM members like retired Gen. Edgardo Abenina were appointed to government posts when President Arroyo took power following the fall of former President Joseph Estrada.
Malacañang, however, decided to remove the 66-year-old Abenina as head of the Land Transportation Office (LTO) last month purportedly because he was way past the retirement age.
Abeninas removal, however, was believed due to an "internal rift" among leaders of former military rebel groups under the RAM.
The RAM faction, headed by retired Navy Commodore Domingo Calajate, has accused Abenina of corruption at the LTO which the latter vehemently denied, claiming that Calajates group was just after his position.
Earlier, the President said she was inclined to appoint former Philippine National Police chief Roberto Lastimoso as Abeninas successor.