The Comptroller-General of Customs (CGC), Colonel Hameed Ali (rtd) has revealed that the service recorded a drop in its revenue to the tune of N230 billion in the last quarter of 2015 because of the Central Bank of Nigeria (CBN)’s policy banning some items from accessing the dollar.
Alli said during his working visit to Lagos and other operational areas in the South-West zone.
During the visit, the C-G hosted members of the Manufacturers Association of Nigeria (MAN).
In a statement made available to newsmen, Public Relations Officer of the Nigerian Customs Service, Wale Adeniyi, said issues of mutual concerns were discussed at the meeting, where participants expressed concern over the militating impact of the forex policy of the CBN.
Alli said a joint Customs-MAN team was agreed to be set up to harmonize area of conflict in the current draft Memorandum of Understanding (MoU).
This is in recognition of growing cordial relationship between the Customs and MAN.
According to the statement, the meeting recommended continuous engagement, honest declaration, training of imported and regular advocacy with for the purpose of addressing the issue of value upliftments and queries.
Both parties at the meeting were quick to note that the suspension of Export Expansion Grant (EEG) was due to its incessant abuse by some beneficiaries who indulged in racketeering and other vices.
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.