NAGAFF CALLS ON CBN TO REVIEW POLICIES ON INTERNATIONAL TRADE

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In a bid to fast track trade facilitation in line with international standards, the national association of government approved freight for-warders, NAGAFF, has appealed to the central bank of Nigeria to revisit their policy guiding international trade. Disclosing this to vanguard maritime report, the president of the association, increase Uche, said the apex bank should review its policy on foreign exchange restrictions on some items. Uche added that some freight forwarders who deal on the restricted items still push through illegal means to get them into the country there by creating chaos in the freight forwarding sector as well as discouraging foreign investors.

He stated: “the government policy on trade needs to be fully revisited. Some of those items that were restricted by CBN which are trade goods still constitute serious impediments to trade facilitation. ’in a situation where you restrict some items and those who deal on these items are now meant to pass either through the border area or attempt at smuggling them in because some of these cargoes come as consignment, that is the more reason customs keep creating ad hoc committees, the task force, strike force and all that which is not gainful because it discourages foreign investors

NAGAFF CALLS ON CBN TO REVIEW POLICIES ON INTERNATIONAL TRADE
NAGAFF CALLS ON CBN TO REVIEW POLICIES ON INTERNATIONAL TRADE

“We have been harping on the need for capacity building among freight forwarders and the need to open up every space for businesses to thrive, but the kind of regulation we now see guiding international trade is not completely helpful.

“We want a situation whereby we revisit, to evaluate the current situation in logistics and supply chain and find out why and how some of the things that are happening that create uncertainties in the industry to be annihilated.”

The NAGAFF boss further harped on the need for some trade related bills in the National Assembly to be passed, noting that the failed National Transport Commission bill should be reintroduced using another means.

“This particular year, we want government to look at the trade bills that are at the National Assembly and fast track their passage. Some of the bill include the port sector, the review and amendment of the Cabot age Act. Also, on National Transport Commission bill, since the previous attempt on enacting it failed, we should devise another means to present,” Uche said.

Ibekwe Cynthiahttp://evergreennewsonline.com
Ibekwe Cynthia .C. is a certified senior reporter/graphic designer/Advert executive at Evergreennewsonline.

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