Home Business Ports congestion looms over suspension of banks’ import duty collection
Ports congestion looms over suspension of banks’ import duty collection
There are indications that stakeholders in the customs duty and cargo clearance industry are tensed up over the impact of suspension of a first generation bank from Customs Duty collection by the Central Bank of Nigeria, CBN.
The CBN’s action was at the backdrop of a similar position of the House of Representatives Committee on Customs over failure of some banks to remit to the federation account, monies collected on behalf of the Federal Government on import and export duties.
Speaking to journalists, the acting President of the Association of Nigerian Licenced Customs Agents (ANLCA), Dr Kayode Farinto, who confirmed the development, said that currently clearing agents have been unable to clear cargoes from the port because Customs would not accept duty payment on PAAR or Form ‘M’ opened under the suspended bank.
Vanguardngr.com
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