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Reps C’ttee gives Customs 2 weeks to reduce cargo clearing stages

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The House of Representatives Committee on Customs has given the Nigerian Customs Service (NCS) two weeks to reduce its 18 cargo clearing stages to four.

The committee made the resolution on Tuesday, in Abuja, after an interactive session with stakeholders.

It insisted that the Comptroller General of Customs should appear in person to explain the processes.

The Chairman of the committee, Rep. Leke Abejide (SDC-Kogi) said that the process should be limited to the offices of the Comptroller Area Commander (CAC), Deputy Comptroller Revenue (DCR), Officer in Charge of Bond and then Gate.

He said that all other stages should be removed to allow for free flow of activities in the ports, describing them as avenues for illegal transactions by corrupt officers of the service.

“Once it gets to the CAC, the CAC should minute it directly to the Deputy Comptroller Revenue, from there, it goes to Officer in Charge of Bond and then to the Gate for exit.

“We have to do something about this, let us bring down these procedures to four stages; somebody is getting revenue illegally, but if we do this, we will cut away all these illegalities and the revenue goes to government,’’ he said.

The chairman said that the committee would not work on the Custom’s 2022 budget, if provisions were not made to fix all the scanners in the ports.

He said that government had invested over $420 million dollars on the scanners and the committee would not allow such investment to go down the drain.

The Deputy Comptroller, Tariff and Trade, Mrs Talatu Isah, said that there was need to investigate the matter before taking action, saying that the procedure should not be that cumbersome.

She said that the service was working hard to ensure ease of doing business in the country and security by ensuring only approved goods got into the country.

The officer said that any dealer subjected to a cumbersome procedure to clear merchandise should report to the Comptroller Area Commander.

Earlier, the acting Managing Director, Nigerian Port Authority, Mr Mohammed Bello-Koko, said that Customs had multiple units within the same port, making the process cumbersome.

“After Customs finishes 100 percent examination, just when you think it is over, you load your container, you now find another Custom checkpoint within the same port.

“In the name of Federal Strike force or something and they leave the truck there for 30 minutes to one hour causing a lot of problems.

“And when you go out again, you find another Customs person and that is why Nigeria has lost the transit cargo market; what we now have is captive cargo, even some of the captive cargo is going somewhere else because of the cumbersome way things are done,’’ he said.

Bello-Koko said that some cargoes that should have gone to Niger and other countries through Nigeria went through other countries owing to multiple Customs and police check points between the country and Niger.

The Managing Director, Inland Container Nigeria Ltd, Mr Ismail Yussuf, also said that there were too many tables through which documents were processed, before cargoes go out of the ports.

He said that it should not be more than three, if the service scanners were activated at the port and electronic clearing system deployed.

He added that because Customs often changed procedures without prior notification of stakeholders, trying to adjust to such instant changes caused delays.

Yussuf said that the poor means of transportation out of the port was another challenge, stressing the need for road reconstruction and provision of other transport options. (NAN)

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Business & Economy

CBN Issues July 7 Deadline For PoS Operators’ Registration With CAC

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The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC).

This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday.

Speaking at the event, the CAC boss said the two-month timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria”.

“The measure aims at safeguarding the businesses of Fintech’s customers and strengthening the economy,” a statement titled ‘CAC, PoS OPERATORS AGREE TO TWO-MONTH DEADLINE TO REGISTER THEIR AGENTS AND MERCHANTS TO STRENGTHEN THE FINTECH INDUSTRY‘ issued by the CAC added.

He stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.

Magaji explained that the timeline for the registration which will expire on July 7, 2024, was not targeted at any groups or individuals but aimed at protecting businesses.

Several speakers from the Fintech industry pledged to collaborate with the commission to ensure hitch-free implementation of the directive.

Some of them, however, stressed the need for adequate and collective sensitisation, to ensure that the exercise achieved the desired results.

The Special Adviser to the President on ICT Development and Innovation, Tokoni Peter, in his remarks, pledged to ensure smooth facilitation of the process in line with the Renewed Hope Initiative of the present administration.

The representatives of Opay, Momba, Palmpay Ltd, Pay Stack, Fair Money MFB, Monie Point, and Teasy Pay present at the event, later signed up for a document to support the project.

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CBN Directs Banks To Charge 0.5% Cybersecurity Levy

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The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions.

This was contained in a circular dated May 6, 2024 by the apex bank to all commercial, merchant, non-interest and payment service banks as well as mobile money operators and payment service providers.

“Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and pursuant to the provision of Section 44 (2) (a) of the Act, ‘a levy of 0.5% (0.005) equivalent to a half percent of all electronic transactions value by the business specified in the Second Schedule of the Act’, is to be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA),” the circular partly read.

The apex bank said that the implementation of the levy would start two weeks from the date of the circular.

“The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution. The deducted amount shall be reflected in the customer’s account with the narration, ‘Cybersecurity Levy’.

“Deductions shall commence within two weeks from the date of this circular for all financial institutions and the monthly remittance of the levies collected in bulk to the NCF account domiciled at the CBN by the fifth business day of every subsequent month,” the circular added.

Exempted from the levy include loan disbursements and repayments, salary payments, intra-account transfers within the same bank or between different banks for the same customer, intra-bank transfers between customers of the same bank.

Also exempted from the levy were inter-branch transfers within a bank, cheque clearing and settlements, ⁠Letters of Credits, ⁠Banks’ recapitalisation-related funding only bulk funds movement from collection accounts, savings and deposits including transactions involving long-term investments, among others.

The apex bank recently stopped fintechs firms like Opay and Palmpay from onboarding new customers and directed banks to deduct 0.375 per cent stamp duty charge on all mortgaged-backed loans and bonds.

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Kaduna refinery will begin production in December – NNPCL Boss, Kyari

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The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL,Mele Kyari has disclosed that the refinery in Kaduna State will be ready for production by December 2024.

He disclosed this during a meeting with the Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria in Abuja.

He disclosed that operations at the Port Harcourt refinery are scheduled to begin in two weeks.

According to Kyari: “We did a mechanical completion of the (Port Harcourt) refinery, that was what we said in December. We now have crude oil already stocked in the refinery. We are doing regulatory compliance tests that must happen in every refinery before you start it, and I assure you that this Port Harcourt refinery will start in the next two weeks.

“Completing the mechanical work means that you are done with the rehabilitation work, now you have to test to see how it works. Of course, we have also completed the mechanical work on the Warri refinery.

“It is also undergoing regulatory compliance; processes that we are doing with our regulator, and this will soon be completed and it will be ready.

“The Kaduna refinery will be ready by December. We have not reached that stage in Kaduna, but we promise Kaduna will be delivered by December.”

 

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