Apparently worried about the quantum of revenue that is held up on account of transactions with foreign shipping interests, there are indications that the Central Bank of Nigeria (CBN), may beam its searchlight on happenings in the Nigerian maritime industry following. It is presently getting involved in the retention of container deposit fees paid by Nigerian importers to shipping firms.
Before CBN’s intervention, a large chunk of container deposit fees are allegedly moved out of the country, a development that has impoverished the nation’s economy but the regulatory body has commenced moves to stop this capital flight of container deposit fee.
The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council, Mr. Hassan Bello who confirmed the intervention also said that the CBN had met with the Council with a view to ensuring that Nigerian importers get their refund as at when due.
Bello also said that because the CBN has noticed the way monies that are paid by Nigerians leave the country through capital flight, the apex bank is beaming its search light on that aspect of port operations.
He explained that the Council has entered into an agreement, whereby the fees are refunded four days after these containers are returned to the shipping companies.
“These shipping companies are only trying to protect their interest as a container cost as much as $3000 to manufacture and sometimes these containers are brought back damaged and sometimes these containers are not returned back”
“It is only in Nigeria that we have this issue of container deposit because we have a peculiar case and we are trying to bring about a new container regime.
He confirmed that the Council “has negotiated the refund of this fee be paid four days after return of the container and the shipping firms have agreed to it”.
Discussion about this post