The Central Bank of Nigeria (CBN) has appointed three more banks for the collection of fees under the Nigerian Export Supervision Scheme (NESS).
The NESS Fee is a statutory payment to the Federal Government of Nigeria on all legitimate goods exported from Nigeria.
Payments covered by NESS include: Payment for crude oil and its derivatives and payment for non-oil goods.
The banks are Coronation Merchant Bank Limited, Paralex Bank Limited and Lotus Bank.
According to the CBN, the appointment was approved by the minister of finance, budget and national planning.
“Consequently, all authorised dealers are therefore enjoined to bring the information to the attention of the exporting customers,” a circular signed by W.J. Kanya, the director of trade and exchange department said.
It should be recalled that in 2021, the CBN appointed 19 banks for the same fee collection.
As of 2021, the fee, 0.5 percent administrative charge of the value of the export and 0.15 per cent of free on board (FOB) is collected by the Central Bank of Nigeria through designated banks.
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