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Shipping council partners CBN on capital flight in sector

By Moses Ebosele
01 April 2015   |   5:06 am
THE Nigeria Shippers’ Council (NSC) has announced plans to strengthen foreign exchange conditions for commercial banks and their customers in the maritime sector. Under the arrangement, unveiled by the Central Bank of Nigeria (CBN) in collaboration with NSC, all transactions associated with import and export and sourcing of foreign exchange must secure the approval of NSC.
Image source Nigerianports

Image source Nigerianports

THE Nigeria Shippers’ Council (NSC) has announced plans to strengthen foreign exchange conditions for commercial banks and their customers in the maritime sector.

Under the arrangement, unveiled by the Central Bank of Nigeria (CBN) in collaboration with NSC, all transactions associated with import and export and sourcing of foreign exchange must secure the approval of NSC.

Already, plans are underway to put in place central e-payment platform as part of measures to make transactions less cumbersome and fraud proof.

The new measures compel importers, exporters and their banks to provide verification certificates of the freight component of their transactions.

Speaking when he led management staff of the NSC to the National Secretariat of the Association of Nigerian Licensed Customs Agent (ANLCA) in Lagos, the Executive Secretary and Chief Executive Officer of NSC, Hassan Bello explained that the new partnership has saved the country huge resources.

Bello pledged to ensure a sustainable port pricing system that will boost port operation and make Nigerian ports hub in West Africa.

He explained that a right pricing mechanism would promote, growth, development and growth of the nation’s port system and frequent turnaround time for terminal operators.

Emphasising need for competitive pricing, Bello said pricing is capable of guiding the port system to either efficiency or inefficiency.

He told the leadership of ANLCA that NSC is not a price-fixing organization, adding that all stakeholders need to work together in the interest of the sector and the larger economy.
Bello described freight forwarding practice as a noble profession, pointing out that its practitioners require constant training to meet up with international best practice.

According to  Bello, well-trained freight forwarders will be able to negotiate with service providers without the intervention of the NSC.

He commended the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) for giving priority to the training of freight forwarders.

Bello, who spoke on sundry issues said: “Training is key. The impact of training has begun to impact positively on the profession. “The Council will dedicate its funds to the training of freight forwarders because the more freight forwarders you train, the more they can come and negotiate the fees themselves with the service providers and we will just be watching”.

He assured that the council would always involve the associations in its negotiations with service providers.

In his submission, the President of ANLCA, Prince Olayiwola Shittu commended NSC for its commercial regulatory functions at the port.

He said the association has restrained from embarking on strike “because we know the effect of strike on the economy; we know the impact it will have on the image of the country. So, we have been trying to manage that but we will like to appeal to you to also tell those who initiate this kind of misunderstanding,” Shittu said.

Bello, who also met with the leadership of NAGAF, urged stakeholders to come together in the interest of the sector.

Meanwhile, while playing host to the Senior Special Assistant to the President on Maritime Matters, Olugbenga Leke Oyewole in Lagos recently, Bello canvassed need for consistency in policy formulation.

Bello, who was accompanied by senior management staff of NSC said: “We need consistent policies for our ports; they shouldn’t change every three years. The council is also working hard to ensure that we secure the importation of cargo from Niger Republic through Nigerian ports. The council, customs and terminal operators have held meetings with their shippers and in May, we would hold another meeting to conclude the process”.

He added: “There is a legal framework currently awaiting the President’s attention. Although our appointment as port regulator was based on certain precedents, we still need a presidential order that will provide a legal framework for us to operate. We have been operating under the Nigerian Shippers Council Act and local shipping charge regulation but we want a more comprehensive one.”

The NSC boss identified high tariff, cargo dwelt time, among others as some of the factors militating against the competitiveness of Nigerian ports in the West African sub region, adding that the government was doing everything to tackle various challenges”.

Oyewole used the opportunity to commend Bello for his dedication to duty and adequate protection for the interest of stakeholders at the port.

Bello had at an interactive session with Journalists recently reiterated plans to strengthen complaints and arbitration mechanism as part of measures to make the port environment friendly for business.
He also expressed the determination of his management team to end diversion of cargoes to neigbouring countries, make Nigerian ports more efficient and generates more revenue.

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