Exporters Decry CBN’s Pre- export Requirements
Exporters under an umbrella body of Network of Practicing Non-oil Exporters of Nigeria on Wednesday decried the pre-export requirements imposed by the Central Bank of Nigeria, they noted that it is currently frustrating their ability to export goods to other countries.
The exporters stated that the electronic Nigeria Export Proceed Form being required by the bank from exporters had come with enormous bottlenecks.
In a statement released in Abuja, by the President of the body, Ahmed Rabiu, disclosed that the new procedure had so many layers of activities that were encumbrances which led to financial loss for its members.
READ THIS: Open Letter To All Farmers Part 4
“We acknowledge the CBN’s desire to ensure that all exports out of Nigeria are documented in order to ensure that the proceeds of such exports are repatriated.
“However, the reality on the field shows that the process is causing undue delays and consequently, encouraging corruption.” He stated.
He said the new CBN pre-export requirements expects export transactions to be initiated through eNXP processing on the trade monitoring system, that after this, the Pre-shipment Inspection Agencies (PIA), which includes: the Nigeria Customs Service and other designated government agencies would conduct their pre-export inspections.
They noted that the PIA was expected to issue a Clean Certificate of Inspection, while the Customs would issue the Single Good Declaration.
Rabiu further explained that, “For example, for the PIA to issue the CCI, the exporter is required to upload a certificate of origin as one of the supporting documents for the eNXP.
“The PIA is also required to upload the CCI to the TRMS (M) and until this is done, the Customs service will not issue the Single Good Declaration. After issuing the SGD, customs are further required to upload it into the TRMS before the goods are allowed to be gated into the port and loaded on the vessel by the shipping line.” He added.
He lamented the fact that the layers created by the new CBN procedure had made the export of goods from Nigeria cumbersome, as it had also led to the deterioration and losses for agro commodity exporters, that a recent report showed that N868bn worth of goods bound for export was stuck at the ports due to the new procedure, as they called for urgent attention to reverse the trend.
This News Post is Sponsored By AVERTECH NIG LTD
To Sponsor or Advertise through a News Post, contact Ola on 07082418202