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Governor of the Central Bank of Nigeria (CBN) says the bank has discovered that several shipping companies in Nigeria were not complying with the federal government’s directive on compulsory use of Nigerian export proceeds numbers.
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Governor of the Central Bank of Nigeria (CBN) says the bank has discovered that several shipping companies in Nigeria were not complying with the federal government’s directive on compulsory use of Nigerian export proceeds numbers.

Speaking at a virtual meeting recently, the CBN Governor said many of the exporting companies were found wanting, saying the non-compliance would attract strict sanctions.

The meeting was focused on non-compliance by shipping lines to the directive by the federal government that all export goods leaving the country should carry Nigerian Export Proceeds (NEP) numbers.

The federal government had ordered an audit of the shipping companies to ensure that the all shipping documents carry the NXP number.

Speaking on the issue, the executive secretary/CEO of Nigerian Shippers’ Council (NSC), Mr. Hassan Bello, said Shippers’ Council in partnership with the central bank has carried out 3 sensitization meetings in Lagos and Port Harcourt to educate shipping companies and exporters on the need to implement the directive on the NXP.

According to a statement that was issued by the spokeswoman of the Nigerian Shippers’ Council, Rakiya Zubairu, the CEO added that the Nigeria Customs Service would work with other agencies of government to ensure full compliance, so that export without the NXP is discontinued.

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Addressing the shipping lines, Mr. 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 line on your system that the NXP has been registered, you turn back that cargo.

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