The Central Bank of Nigeria (CBN) has issued a riot act to shipping companies over their continuous flouting of the bank’s directive on export procedures in the country.
The CBN Governor, Godwin Emefiele issued the warning during a virtual meeting with the shipping lines, said strict sanctions would be applied henceforth for compliance with the export guidelines.
Emefiele stated that the apex bank would set an auto system to track the compliance of export procedures to ensure all shipping documents carry the Nigerian Export Proceeds (NXP) number.
He said “We are going to set up an auto system, where if someone wants to send cargo, copies of the NXP form will be sent directly to you. So that if you don’t have it on line on your system that the NXP has been registered, you turn back that cargo.”
He warned against collecting unregistered NXP numbers.
“You cannot accept any number and use it as a basis for shipping. We are not going to allow that. That is not acceptable. If you don’t see NXP Forms, that cargo should be turned back”.
The CBN Governor assured that a circular outlining this procedure would be sent out to shipping lines and relevant agencies like the Nigerian Shippers’ Council,. Ministry of Finance, Nigerian Customs Services and security agencies among others.
The Executive Secretary/CEO of Nigerian Shippers’ Council (NSC), Mr. Hassan Bello, said Shippers’ Council in partnership with the CBN has carried out three sensitization meetings in Lagos and Port Harcourt to educate shipping companies and exporters on the need to implement the directive on the NXP.
He added that the NSC would work with other agencies of government to ensure full compliance, so that export without the NXP is discontinued.
Addressing the challenges faced by the shippers, Managing Director, MSC Nigeria Limited, Andrew Lynch, stated that his company receives NXP forms on all major agro commodities like cashew, cocoa and sesame, but not for commodities like charcoal and timber.
According to him, they find out that these items do not have NXP forms after they have already arrived at the port and once cargo gets to the port and has gotten clearance from the Nigerian Customs Services, there is pressure, due to space constraints at the port, to ship immediately.
He added that one of their challenges also lies in their inability to verify the authenticity of an NXP Form.
The Managing Director, Grimaldi Nigeria Ltd, Ascanio Russo, stated that in addition to not being able to verify the authenticity of the NXP Form, his company is unable to access CBN’s online portal.
Shipping companies which attended the virtual meeting included Maersk Line Nigeria Limited, Ocean Network Express Nigeria Limited, MSC Nigeria Limited, Golden shipping Company and Grimaldi Nigeria Limited, among others.
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