The Central Bank of Nigeria (CBN) has threatened strict sanctions on shipping lines that are non-compliant of the Nigerian Export Proceeds Number.
In a press statement signed by the deputy director, public relations of the council, Rakiya Zubairu, the CBN said, it had discovered that several shipping companies were found wanting in compliance with federal government directive.
Speaking during a virtual meeting with heads of foreign shipping companies in Nigeria, the governor of the CBN, Godwin Emefiele and the executive secretary of Shippers’ Council, Barrister Hassan Bello lamented non-compliance of shipping lines to directive of the Federal Government that all export goods leaving the country should have Nigerian Export Proceeds (NXP) numbers.
Emefiele 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 your system that the NXP has been registered, you turn back that cargo. 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.”
Also speaking, the executive secretary of the Nigerian Shippers’ Council, Barrister Hassan Bello said shipper’s council in partnership with the central bank carried out three sensitisation meetings in Lagos and Port Harcourt to educate shipping companies and exporters on the need to implement the directive on the NXP.
Bello stated that the NSC would work with other agencies of government to ensure full compliance so that export without the NXP is discontinued.
Responding, the 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.
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.
The governor said that a circular outlining this procedure would be sent out to shipping lines and relevant agencies, such as the Nigerian Shippers’ Council, Ministry of Finance, Nigerian Customs Services and security agencies among others.