CBN to sanction shippers over export proceeds number violation

Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele has threatened to sanction shipping lines that fail to abide by the directive that all export goods leaving the country should carry Nigerian Export Proceeds (NXP) numbers.

At a virtual meeting of stakeholders in the shipping industry convened by the CBN, Emefiele complained that several shipping companies were refusing to comply with the directive.

“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 online 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.”

He explained 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.

He wondered why the companies were not complying by the Federal Government directive and some of their challenges regarding the NXP.

Head, Public Relations, Nigeria Shippers’Council, Rakiya Zubairu in a statement on Wednesday quoted the Executive Secretary/CEO of Nigerian Shippers’ Council (NSC), Mr Hassan Bello to have also told the meeting that the council has carried out three sensitization meetings in Lagos and Port Harcourt to educate shipping companies and exporters on the need to implement the NXP in partnership with the Central Bank.

He added 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.

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 at the virtual meeting included Maersk line Nigeria Limited, Ocean Network Express Nigeria Limited, MSC Nigeria Limited, Golden shipping Company and Grimaldi Nigeria Limited.

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