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CBN to sanction shipping coys carrying export goods without NXP number as directed

The Central Bank of Nigeria (CBN) has warned that shipping companies flouting the Federal Government’s directive that all export goods leaving the country should carry Nigerian Export Proceeds (NXP) numbers, would be sanctioned.

Making this known at a virtual meeting, the CBN Governor, Mr. Godwin Emefiele, stated that the Apex bank, following a directive by the Federal Government to audit shipping companies to ensure that the all shipping documents carry the NXP number, discovered that several shipping companies were none-compliant with the directive.

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 had 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 number.

The ES /CEO added that the NSC would work with other agencies of government to ensure full compliance, so that export without the NXP is discontinued.

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.

“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.”

The virtual meeting, which was attended by some representatives of shipping lines in the country, was also an opportunity for the Governor to query why the companies were not complying with the federal government’s directive and what some of their challenges regarding the NXP were.

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.

He said that they discovered that those items did not have NXP forms after they had already arrived at the port, and once cargo gets to the port and has been cleared from the Nigerian Customs Services, the pressure to ship immediately sets in, due to space constraints at the port.

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.

The Governor, said 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.

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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