CBN Tasks Airlines, Shipping Companies Over Adherence To Export Regulations
The Central Bank of Nigeria, (CBN) Director, Trade and Exchange Department, Dr Ozoemena Nnaji has warned Airlines and Shipping Companies to adhere to laid down guidelines on export regulations.
This is contained in a warning circular Nnaji signed and made available to NAN on Wednesday.
Nnaji advised that strict compliance with those regulations had become mandatory to improve the Nigerian export sector.
“It requires that Bills of Lading or Airway Bills in respect of exports from Nigeria carry the form NXP number in respect of underlying cargoes. “Furthermore, the circular referenced: TED/FEM/FPC/GEN/O1/003 dated Oct. 28, 2019, which mandated electronic processing of NXP on the Trade Monitoring System (TRMS) has not been complied with.
Shipping and airline companies are required to access the TRMS platform, www.tradesystem.gov.ng to generate form NXP numbers for capture on the Bill of Lading for export cargoes,’’ he said.
Nnaji warned that any airline or shipping company that failed to adhere to the regulations would face severe sanctions.
“Consequently, all shipments of export cargoes from Nigeria shall be in accordance with the aforementioned procedures.
“Failure to comply will attract severe sanctions, which shall include a refund of the Foreign Exchange (Forex) value of goods illegally exported, as well as Post-No-Debits on all bank accounts nationwide,’’ he said.
