The Central Bank of Nigeria (CBN) has received the backing of the Nigeria Customs Service (NCS) for its e-invoicing and e-valuation policy, which has led to protest from clearing agents and manufacturers.
Penultimate week, the House joint committees on Customs and Excise and Banking and Currencies had asked the CBN to interface with the Nigeria Customs Service to resolve grey areas on the planned implementation of electronic valuation and electronic invoicing policy for the service.
The Custom in its earlier presentation by ACG Galadima Saidu expressed concerns that the implementation of the new policy by the CBN would adversely affect the Customs Service and the country’s economy.
He maintained that the introduction of additional fees or charges and procedures through the e-valuator will affect Nigerian traders and the economy adversely.
In what appears like a complete turnaround, Galadima Saidu, told the House last Thursday said it was backing CBN because the initiative was meant to serve Nigeria well, the assistant comptroller-general of NCS disclosed, adding that , The central bank planned to use the e-invoicing and e-valuation policy to monitor the value of exports and imports trade in Nigeria.
The decision became effective on February 1, 2022, leading to clearing agents downing tools at the Lagos port, which forced a rerout of cargoes to Port Harcourt and Calabar ports.
Daily Trust gathered that the Lagos port was congested due to the strike, with about 12,000 imported vehicles trapped, as agents protested that the policy would drive cost of clearing a vehicle at the port up to N800,000, from N300,000 or N400,000.
The assistant comptroller-general further stated, “The CBN should tell us who is providing the service. Who is engaged to provide this service? If they tell us they are Nigerians and they would employ Nigerians, fine and good, no one is against it.”
Taking a neutral stand, the chairman of the committee, Leke Abejide, said all relevant stakeholders should be involved by the Godwin Emefiele-led CBN.
