By Joshua Yousouph
The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) says it generated more than N141million from the collection of Practitioner Operating Fees (POF) from registered freight forwarders between January and May, 2022.
This was contained in a report of CRFFN activities presented at the 4th Governing Council meeting recently in Lagos which was made available to our correspondent.
The report noted that N141m was generated from the Internally Generated Revenue (IGR) between January to 31 May 2022.
However, it stated that the Council has remitted part of the 25% of the amount generated to the Federal Government Consolidated revenue fund (CRF).
It also noted that the Council was technically removed from Capital budget funding as only a budget envelope of N95,961,082.00 was approved. According to the report, all concerted efforts for a higher capital budget funding proved abortive.
However, the sum of N50,070,442.93 (52.2%) has been released from the 2022 approved capital budget envelope of N95,961,082.00 alongside with the N1,866,456,310.00 unspent balance of 2021 appropriation, making a total capital fund released in year 2022 as at 31 March 2022 to be N1,916,526,752.93.
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“Part of these funds had been spent for ongoing projects in line with the Appropriation leaving a balance of N1,017,402,244.29 as at 31 May 2022 which is an Appropriation for development and construction of CRFFN Headquarters and other activities.
Referring specifically to the POF, the CRFFN noted that: “The Council’s IGR was expected to soar remarkably upon the commencement of collection of Practitioners Operating Fees (POF) which is the main IGR component in March 2021.
“Regrettably, the process was scuttled through a court injunction in April 2022. After resumption of collection, the efforts of the Council were thwarted by the practitioners who are either complying partially or not complying at all”.
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